深圳中冠纺织印染股份有限公司2009 年第三季度季度报告全文
1
Shenzhen Victor Onward Textile Industrial Co., Ltd.
Quarterly Report for the Third Quarter of 2009
§1 Important Notice
1.1 The Board of Directors and the directors of the Company hereby warrant that there are no
misstatement, misleading representation or important omissions in this report and shall assume
joint and several liability for the authenticity, accuracy and completeness of the contents
hereof.
1.2 The Third quarterly financial report of the Company is not audited .
1.3 Mr. Hu Yongfeng, board chairman and General Manager of the Company, Mr.Zhang Jinliang,
Deputy General Manager of the Company, Mr. Ren Chengzheng , Manager of Financial Dept
represent and warrant the financial report in this quarterly report is true and complete.
§2 Basic Information
2.1 Highlights of Accounting Data and Financial Indicators
Unit：RMB
2009.9.30 2008.12.31 Increase /decrease（％）
Total assets（RMB） 193,563,332.00 192,923,851.00 0.33%
Owner’s equity attributable to
shareholders of the listed company
（RMB）
129,968,915.00 130,073,334.00 -0.08%
Stock capital（shares） 169,142,356.00 169,142,356.00 0.00%
Net assets per share attributable to
shareholders of the listed company
（yuan/shares）
0.77 0.77 0.00%
July-September 2009
Increase/decrease in
the report period
compared with the
same period of the
last year(%)
January-September
2009
Increase/decrease in
the report period
compared with the
same period of the
last year(%)
Total turnover(RMB) 7,689,102.00 -11.64% 20,176,605.00 -48.87%
Net profit attributable to shareholders of
the listed company（RMB） 1,004,274.00 -261,603.00
Net cash flow arising from operating
activities（RMB） - - -4,268,199.00 -130.96%
Net cash flow per share arising from
operating activities（yuan/shares） - - -0.03 -130.96%深圳中冠纺织印染股份有限公司2009 年第三季度季度报告全文
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Basic earnings per share（yuan/shares） 0.007 -123.33% -0.003 -95.00%
Diluted earnings per share（yuan/shares） 0.007 -123.33% -0.003 -95.00%
Return on net assets（%） 0.77% 4.18% -0.20% 3.21%
Return on net assets after deducting
non-recurring gains and losses（%） 0.55% 3.99% -0.44% 6.02%
Unit：RMB
Items of non-current gains and losses Year begin to end of report period Notes
Gains and losses from changes in fair value of the held tradable
financial assets and liabilities, and investment income from disposal of
tradable financial assets and liabilities and available-for-sale financial
assets, excluding the effective hedging businesses related with the
normal operation of the Company.
266,599.00
Income from
subscription for
new shares.
Other non-business income and expenses besides the above items 37,500.00
Total 304,099.00 -
2.2 Total number of shareholders in the end of the report period and shares held by the top ten
shareholders with unrestricted conditions
Unit：Shares
Total number of shareholders at the end of report
period 11,209
Share held by the top ten shareholders with unrestricted conditions
Name of the shareholder Number of Unconditional shares held at
the period-end Type of shares
Union Holding Co., Ltd. 43,141,032 RMB common shares
STYLE-SUCCESS LIMITED 24,466,029 Foreign shares placed in domestic
exchange
Shenzhen Textile (Group)Holdings Ltd 11,305,662 RMB common shares
Rich Crown Investment Co., Ltd. 6,114,556 Foreign shares placed in domestic
exchange
Union Development Group Co., Ltd. 5,821,089 RMB common shares
Shing Ying Chieh 5,087,061 Foreign shares placed in domestic
exchange
Yang Xiaohua 1,541,775 RMB common shares
Zhang Yanying 1,021,500 RMB common shares
Liu Baojiang 886,265 RMB common shares
Liu Yue 883,356 Foreign shares placed in domestic
exchange
§3 Significant Events
3.1 Particular about large-margin change of main accounting statement item and financial index and its
reason.
√ applicable □ not applicable
1.Analysis of the reason for big change of the items of balance sheet of the Company as of the end of the report period. Unit: RMB
Items September 30,2009 December 31, 2008 Amount of increased / Proportion increased/
Decreased Decreased(%)
Monetary capital 56,335,840 61,368,428 -5,032,588 -8.20深圳中冠纺织印染股份有限公司2009 年第三季度季度报告全文
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Trading financial assets 99,175 36,687 62,488 170.33
Interest receivable 235,638 91,087 144,551 158.70
Other receivable 4,787,216 614,673 4,172,543 678.82
Inventories 949,481 3,510,747 -2,561,266 -72.96
Long term share equity
investment 54,593,724 47,184,759 7,408,965 15.70
(1) Monetary capital decreased by RMB 5.03 million and 8.20% mainly due to expenditure on
obtaining real estate title certificate and retroactive payment of customs duties and value added tax
for historic import of grey fabric;
(2) Tradable financial assets increased by RMB 60,000 and 170.33% mainly due to change of the
quantity of lots won for IPO；
(3) Interest receivable increased by RMB 0.14 million and 158.70% mainly due to increase of
undue interest income of time deposit;
(4) Other receivables increased by RMB 4.17 million and 678.82% mainly because the procedure of
applying for real estate title certificate was not settled;
(5) Inventories decreased by RMB 2.56 million and 72.96% mainly due to sales of imported grey
fabric in stock at a discount;
(6) Long-term equity investment increased by RMB 7.41 million and 15.70% mainly because
Zhejiang Union Hangzhou Bay Ventures Co., Ltd., an affiliated company, made profit in current
period.
2.Analysis of the reason for big change of the items of profit statement as of the end of the report period.
In the period from January 2009 to September 2009,the company earned operating income of RMB 20.18 million on accumulative
basis, which decreased by RMB19.29 million and 48.87% year on year. Net profit is RMB -0.43 million. compare to the data last year
same period, which loss decreased by RMB9.39 million and 95.61%.
⑴Analysis of reason for decrease of operating income：
Affected by production suspense for rectification, sales volume of printed and dyed fabrics
decreased sharply and operating income decreased sharply year on year.
⑵The main reason for decreased of amount of loss：
Reason: Zhejiang Union Hangzhou Bay Ventures Co., Ltd., an affiliated company, made profit in
current period.
3.Analysis of the reason for big change of the items of cash flow statement of the Company in the report period.
Unit：RMB
Items This period Same period of last year amount of Proportion
increased/decreased Increased/ decreased
Net cash flows arising form
Operating activities -4,268,199 13,785,937 -18,054,136 -130.96
Net cash flows from investing activities -728,230 -2,940,098 2,211,868 -75,23
Net cash flows from financing activities 0 0 0 0
The influence of change in exchange rate
On cash and cash equivalents ¨ -36,159 -3,430,122 3,393,963 -98.95
Net increase of cash and cash equivalents 56,335,840 -60,072,569 -3,736,729 -6.22
(1) Net cash flows from operating activities decreased by RMB 1805 and 130.96% year on year
mainly due to sharp decrease of business volume;
(2) Net cash flows from investing activities decreased by RMB 2.21 million and 75.23% year on year
mainly due to year-on-year decrease of the amount of long-term equity investment in current period;
(3) There were no net cash flows from financing activities;
(4) The influence of change in exchange rate on cash and cash equivalents increased by RMB 3.39深圳中冠纺织印染股份有限公司2009 年第三季度季度报告全文
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million and 98.95% mainly due to appreciation of RMB in the same period of previous year;
(5) Net increase in cash and cash equivalents decreased by RMB 3.73 million year on year mainly
due to expenditure on obtaining real estate title certificate and retroactive payment of customs duties
and value added tax for historic import of grey fabric.
3.2 The progress of significant events and influence, as well as the analysis and explanation on resolving
proposal.
√ applicable □ not applicable
The overall economic benefit of domestic printing and dyeing industry has continuously deteriorated in recent year, affected by this
situation, the implementation of the plan for transfer of printing and dyeing business of the Company was somewhat delayed. The
Company will strengthen the consultation and communication with joint ventures and strive to implement the transfer plan as soon as
possible.
3.3 The fulfillment of the commitment made by the Company , shareholders and the actual controller
□applicable√ not applicable
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 □ not applicable
Forenotice of earnings Making up deficit
Year beginning to end of
next report period
Same period of the
previous year Increase or decrease (%)
Estimated amount of
accumulative net
profit(RMB’0000)
200.00 -2,595.00 Increased -------------
Basic earnings per
share(Yuan/share) 0.011 -0.15 Increased ------------
Notes to forenotice of
earnings
Mainly because Zhejiang Union Hangzhou Bay Co., Ltd., an invested company, was
expected to make profit.
3.5 Other significant events need to be explained
No
3.5.1 Reception of investigations, communications ,or interviews company held in the report period.
Reception Place Mode Object Discussion issue and offered
information
July 7,2009 Office of board secretary
of the Company Telephone Investor To learn about the Company’s operating
status
September
15,2009
Office of board secretary
of the Company Telephone Investor
To learn about whether the Company
has a reorganization plan and
Whether there is risk of
delisting.深圳中冠纺织印染股份有限公司2009 年第三季度季度报告全文
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3.6 Particulars about derivatives investment
□applicable √ not applicable
3.6.1 Particulars about the positions of derivatives investment at the end of report period.
□applicable √ not applicable
§4 Appendix
4.1 Balance sheet
Prepared by：Shenzhen Victor Onward Textile Industrial Co., Ltd. September 30, 2009 Unit：RMB
Year-end balance Year-beginning balance
Items Consolidated Parent company Consolidated Parent company
Current asset：
Monetary fund 56,335,840.00 26,253,976.00 61,368,428.00 30,750,018.00
Settlement provision
Outgoing call loan
Trading financial assets 99,175.00 23,591.00 36,687.00
Bill receivable 850,000.00
Account receivable 2,776,556.00 975,894.00 2,746,095.00 714,042.00
Prepayments 1,793,673.00 1,815,897.00
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance
contracts receivable
Interest receivable 235,638.00 91,087.00
Dividend receivable
Other account receivable 4,787,216.00 85,055,762.00 614,673.00 82,236,725.00
Repurchasing of financial
assets
Inventories 949,481.00 444,880.00 3,510,747.00 2,625,685.00
Non-current asset due in 1
year
Other current asset
Total of current assets 66,977,579.00 112,754,103.00 71,033,614.00 116,326,470.00
Non-current assets：
Loans and payment on
other’s behalf disbursed
Disposable financial asset 251,204.00 207,255.00
Expired investment in
possess
Long-term receivable深圳中冠纺织印染股份有限公司2009 年第三季度季度报告全文
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Long term share equity
investment
54,593,724.00 40,646,322.00 47,184,759.00 39,974,858.00
Property investment 46,026,349.00 6,691,499.00 48,165,784.00 6,972,363.00
Fixed assets 22,122,926.00 18,409,819.00 22,737,791.00 18,441,088.00
Construction in progress
Engineering material
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets
R & D petrol
Goodwill 3,591,550.00 3,594,648.00
Long-germ expenses to be
amortized
Differed income tax asset
Other non-current asset
Total of non-current assets 126,585,753.00 65,747,640.00 121,890,237.00 65,388,309.00
Total of assets 193,563,332.00 178,501,743.00 192,923,851.00 181,714,779.00
Current liabilities
Short-term loans
Loan from Central Bank
Deposit received and hold
for others
Call loan received
Trade off financial
liabilities
Bill payable
Account payable 6,603,622.00 4,044,628.00 6,175,741.00 1,867,796.00
Advance account received 4,619,456.00 1,700,000.00 5,281,103.00 2,464,838.00
Selling of repurchased
financial assets
Fees and commissions
receivable
Employees’ wage payable 608,074.00 522,789.00 599,884.00 560,676.00
Tax payable 4,607,393.00 3,537,824.00 4,551,693.00 3,864,340.00
Interest payable
Dividend payable
Other account payable 30,323,836.00 485,549.00 30,064,983.00 720,894.00
Reinsurance fee payable
Insurance contract
provision
Entrusted trading of
securities
Entrusted selling of深圳中冠纺织印染股份有限公司2009 年第三季度季度报告全文
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securities
Non-current liability due in
1 year
Other current liability 3,307,689.00 1,138,386.00 2,460,041.00 1,137,304.00
Total of current liability 50,070,070.00 11,429,176.00 49,133,445.00 10,615,848.00
Non-current liabilities：
Long-term loan 1,581,184.00 1,674,164.00
Bond payable
Long-term payable 9,224,264.00 9,232,220.00
Special payable 909,499.00 909,499.00 910,284.00 910,284.00
Expected liabilities
Differed income tax liability 1,015,074.00 3,516,323.00 1,015,950.00 3,519,356.00
Other non-current
liabilities
Total of non-current
liabilities
12,730,021.00 4,425,822.00 12,832,618.00 4,429,640.00
Total of liability 62,800,091.00 15,854,998.00 61,966,063.00 15,045,488.00
Owners’ equity
Share capital 169,142,356.00 169,142,356.00 169,142,356.00 169,142,356.00
Capital reserves 39,238,778.00 31,606,598.00 39,194,631.00 31,606,598.00
Less：Shares in stock
Special reserve
Surplus reserves 26,309,287.00 26,309,287.00 26,309,287.00 26,309,287.00
Common risk provision
Undistributed profit -116,072,120.00 -72,502,999.00 -115,810,517.00 -68,418,602.00
Different of foreign currency
translation 11,350,614.00 8,091,503.00 11,237,577.00 8,029,652.00
Total of owner’s equity belong to
the parent company 129,968,915.00 162,646,745.00 130,073,334.00 166,669,291.00
Minor shareholders’ equity 794,326.00 884,454.00
Total of owners’ equity 130,763,241.00 162,646,745.00 130,957,788.00 166,669,291.00
Total of liabilities and owners’
equity 193,563,332.00 178,501,743.00 192,923,851.00 181,714,779.00
4.2 Profit statement of the report period
Prepared by：Shenzhen Victor Onward Textile Industrial Co., Ltd. July-September 2009 Unit：RMB
Report period Same period of the previous year
Items Consolidated Parent company Consolidated Parent company
I. Total operating income 7,689,102.00 4,324,818.00 8,701,751.00 4,966,555.00
Including：Operating income 7,689,102.00 4,324,818.00 8,701,751.00 4,966,555.00
Interest income
Insurance gained
Commission charge and
commission income深圳中冠纺织印染股份有限公司2009 年第三季度季度报告全文
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II. Total operating cost 11,463,834.00 7,178,926.00 9,802,481.00 4,600,897.00
including：operating cost 8,624,640.00 6,280,972.00 5,665,614.00 4,187,025.00
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 extras
Sales expenses 527,547.00 740,573.00
Administration expenses 1,992,855.00 1,013,690.00 4,411,446.00 2,051,390.00
Financial expenses 318,792.00 -115,736.00 116,098.00 -506,268.00
Losses of devaluation of assets -1,131,250.00 -1,131,250.00
Add：changing income of fair
value -3,887.00 -49,413.00 -8,818.00
Investment income 4,686,384.00 266,599.00 -4,182,508.00 88,853.00
Including：Investment income on
affiliated company and joint
venture
Exchange income
III.Operating profit 907,765.00 -2,587,509.00 -5,332,651.00 445,693.00
Add：non-operating income 21,884.00 21,532.00 118.00
less：non-operating expense 3,137.00 34,794.00 -20.00
Including：disposal loss of
non-current assets -20.00
IV. Total profit 926,512.00 -2,565,977.00 -5,367,327.00 445,713.00
Less：expense of income tax
V. Net profit 926,512.00 -2,565,977.00 -5,367,327.00 445,713.00
Net profit attributable to
owner’s equity of parent company 1,004,274.00 -5,226,090.00
Minority shareholders’ gains
and losses -77,762.00 -141,237.00
VI. Earnings per share
（i）basic earnings per share 0.007 -0.03
（ii）Diluted earnings per share 0.007 -0.03
VII. Other composite income
VIII. Total composite income 926,512.00 -2,565,977.00 -5,367,327.00 445,713.00
Including: Attributable to owners
of parent Company 1,004,274.00 -2,565,977.00 -5,226,090.00 445,713.00
Attributable to minority
shareholders -77,762.00 -141,237.00
4.3 Profit statement from Year-begin to period-end
Prepared by：Shenzhen Victor Onward Textile Industrial Co., Ltd. January-September 2009 Unit：RMB深圳中冠纺织印染股份有限公司2009 年第三季度季度报告全文
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Report period Same period of the previous year
Items Consolidated Parent company Consolidated Parent company
I. Total operating income 20,176,605.00 9,089,273.00 39,462,608.00 18,552,868.00
Including：Operating income 20,176,605.00 9,089,273.00 39,462,608.00 18,552,868.00
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 27,700,013.00 13,486,060.00 39,134,513.00 13,947,166.00
including：operating cost 20,238,958.00 10,391,552.00 35,595,169.00 21,501,756.00
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 extras
Sales expenses 1,675,268.00 2,133,113.00
Administration expenses 5,053,897.00 3,875,293.00 9,913,775.00 4,200,457.00
Financial expenses 731,890.00 -780,785.00 -1,088,178.00 -4,335,681.00
Losses of devaluation of assets -7,419,366.00 -7,419,366.00
Add：changing income of fair
value 38,946.00 -102,489.00
Investment income 7,015,371.00 266,599.00 -9,977,133.00 412,859.00
Including：Investment income on
affiliated company and joint
venture
Exchange income
III.Operating profit -469,091.00 -4,130,188.00 -9,751,527.00 5,018,561.00
Add：non-operating income 48,482.00 45,791.00 118.00
less：non-operating expense 10,982.00 68,789.00 13,696.00
Including：disposal loss of
non-current assets
IV. Total profit -431,591.00 -4,084,397.00 -9,820,198.00 5,004,865.00
Less：expense of income tax
V. Net profit -431,591.00 -4,084,397.00 -9,820,198.00 5,004,865.00
Net profit attributable to
owner’s equity of parent company -261,603.00 -9,522,710.00
Minority shareholders’ gains
and losses -169,988.00 -297,488.00
VI. Earnings per share
（i）basic earnings per share -0.003 -0.06
（ii）Diluted earnings per share -0.003 -0.06
VII. Other composite income深圳中冠纺织印染股份有限公司2009 年第三季度季度报告全文
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VIII. Total composite income -431,591.00 -4,084,397.00 -9,820,198.00 5,004,865.00
Including: Attributable to owners
of parent Company -261,603.00 -4,084,397.00 -9,522,710.00 5,004,865.00
Attributable to minority
shareholders -169,988.00 -297,488.00
4.4 Cash flow statement from Year-begin to period-end
Prepared by：Shenzhen Victor Onward Textile Industrial Co., Ltd. January-September 2009 Unit：RMB
Report period Same period of the previous year
Items Consolidated Parent company Consolidated Parent company
I. Cash flows from operating
activities
Cash received from sales of
goods or rending of services 22,036,000.00 11,013,978.00 46,190,680.00 19,390,254.00
Net increase of customer
deposits and capital kept for
brother company
Net increase of loans
from central bank
Net increase of inter-bank
loans from other financial
bodies
Cash received against
original insurance contract
Net cash received from
reinsurance business
Net increase of client
deposit and investment
Net increase of trade
financial asset disposal
269,561.00 269,561.00 413,322.00 413,322.00
Cash received as interest,
processing fee and
commission
Net increase of inter-bank
fund received
Net increase of repurchasing
business
Tax returned 1,631,073.00 705,985.00 6,553,468.00 366,473.00
Other cash received from
business operation
3,759,390.00 1,637,053.00 1,868,922.00 2,684,901.00
Sub-total of cash inflow 27,696,024.00 13,626,577.00 55,026,392.00 22,854,950.00
Cash paid for purchasing
of merchandise and services 14,598,112.00 8,391,793.00 27,659,199.00 9,223,462.00
Net increase of client
trade and advance
Net increase of savings n
central bank and brother
company深圳中冠纺织印染股份有限公司2009 年第三季度季度报告全文
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Cash paid for original
contract claim
Cash paid for interest,
processing fee and
commission
Cash paid for policy
dividend
Cash paid to staffs or paid
for staffs
2,639,951.00 1,419,427.00 3,016,112.00 1,511,257.00
Taxes paid 6,415,072.00 5,663,505.00 2,026,040.00 1,013,616.00
Other cash paid for business
activities
8,311,088.00 2,017,456.00 8,539,104.00 7,369,626.00
Sub-total of cash outflow
from business activities
31,964,223.00 17,492,181.00 41,240,455.00 19,117,961.00
Cash flow generated by
business operation, net
-4,268,199.00 -3,865,604.00 13,785,937.00 3,736,989.00
II. Cash flow generated by
investing
Cash received from
investment retrieving
Cash received as investment
gains
1,776.00 5,031.00
Net cash retrieved from
disposal of fixed assets,
intangible assets, and other
long-term assets
61,532.00 52,368.00
Net cash received from
disposal of subsidiaries or
other operational units
Other investment-related
cash received
Sub-total of cash inflow due
to investment activities
63,308.00 52,368.00 5,031.00
Cash paid for construction
of fixed assets, intangible
assets and other long-term
assets
91,538.00 125,129.00
Cash paid as investment 700,000.00 700,000.00 2,820,000.00 2,820,000.00
Net increase of loan
against pledge
Net cash received from
subsidiaries and other
operational units
Other cash paid for
investment activities
Sub-total of cash outflow
due to investment activities
791,538.00 700,000.00 2,945,129.00 2,820,000.00
Net cash flow generated by
investment
-728,230.00 -647,632.00 -2,940,098.00 -2,820,000.00深圳中冠纺织印染股份有限公司2009 年第三季度季度报告全文
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III. Cash flow generated by
financing
Cash received as investment
Incl: Cash received as
investment from minor
shareholders
Cash received as loans
Cash received from bond
placing
Other financing –related
ash received
Sub-total of cash inflow
from financing activities
Cash to repay debts
Cash paid as dividend,
profit, or interests
Incl: Dividend and profit
paid by subsidiaries to minor
shareholders
Other cash paid for
financing activities
Sub-total of cash outflow
due to financing activities
Net cash flow generated by
financing
IV.Influence of exchange rate
alternation on cash and cash
equivalents
-36,159.00 17,194.00 -3,430,122.00 139,989.00
V.Net increase of cash and
cash equivalents
-5,032,588.00 -4,496,042.00 7,415,717.00 1,056,978.00
Add: balance of cash and
cash equivalents at the
beginning of term
61,368,428.00 30,750,018.00 52,656,852.00 31,467,687.00
VI. Balance of cash and cash
equivalents at the end of term 56,335,840.00 26,253,976.00 60,072,569.00 32,524,665.00
4.5 Auditor’ report
Auditor’s opinions: Not audited
The Board of Directors of Shenzhen Victor Onward Textile Industrial Co., Ltd.
October 29, 2009
