深圳中冠纺织印染股份有限公司 2011 年第三季度季度报告全文
Shenzhen Victor Onward Textile Industrial Co., Ltd.
Quarterly Report for the Third Quarter of 2011（Full text）
§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
2011.9.30 2010.12.31 Increase /decrease（％）
Total assets（RMB） 176,810,278.00 195,732,419.00 -9.67%
Owner’s equity attributable to
shareholders of the listed company 124,581,543.00 142,929,499.00 -12.84%
（RMB）
Stock capital（shares） 169,142,356.00 169,142,356.00 0.00%
Net assets per share attributable to
shareholders of the listed company 0.74 0.85 -12.94%
（yuan/shares）
Increase/decrease in Increase/decrease in
the report period the report period
January-September
July-September 2011 compared with the compared with the
2011
same period of the same period of the
last year(%) last year(%)
Total turnover(RMB) 2,463,266.00 9.92% 7,992,076.00 6.26%
Net profit attributable to
shareholders of the listed company -4,036,157.00 -519.13% -12,268,678.00 -292.43%
（RMB）
Net cash flow arising from operating
- - 2,243,234.00 292.60%
activities（RMB）
Net cash flow per share arising from - - 0.01 0.00%
1
深圳中冠纺织印染股份有限公司 2011 年第三季度季度报告全文
operating activities（yuan/shares）
Basic earnings per share
-0.02 -300.00% -0.07 -275.00%
（yuan/shares）
Diluted earnings per share
-0.02 -300.00% -0.07 -275.00%
（yuan/shares）
Weighted average return on equity
-3.07% -3.71% -9.31% -13.65%
（%）
Weighted average Return on net
assets after deducting non-recurring -3.08% -3.63% -9.32% -13.57%
gains and losses（%）
Items of non-current gains and losses
√applicable □not applicable
Unit：RMB
Non-recurring gain and loss items Amount Notes（If applicable）
Gains and losses of non-recurring -529.00
Except the effective hedge business related to the normal operation
business of the Company, the profit and loss in the changes of fair
values caused by the holding of tradable financial assets and tradable
14,005.00
financial liabilities as well as the investment returns in disposal of
tradable financial assets, tradable financial liabilities and saleable
financial assets
Other non-operating income and expenditure beside for the
7,358.00
above items
Total 20,834.00 -
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
12,014
period
Share held by the top ten shareholders with unrestricted conditions
Number of Unconditional shares held at
Name of the shareholder Type of shares
the period-end
Union Holding Co., Ltd. 43,141,032 RMB common shares
Foreign shares placed in domestic
STYLE-SUCCESS LIMITED 24,466,029
exchange
Shenzhen Textile (Group)Holdings Co., Ltd 9,543,394 RMB common shares
Foreign shares placed in domestic
Rich Crown Investment Co., Ltd. 6,114,556
exchange
Union Development Group Co., Ltd. 5,821,089 RMB common shares
Wang Rulian 4,358,839 RMB common shares
Liuzhou Jiali Real Estate Development Co., Ltd. 2,110,000 RMB common shares
Foreign shares placed in domestic
BOCI SECURITIES LIMITED 1,940,767
exchange
GUOTAI JUNAN SECURITIES(HONGKONG) Foreign shares placed in domestic
1,573,255
LIMITED exchange
Foreign shares placed in domestic
Shing Ying Chieh 1,550,362
exchange
2
深圳中冠纺织印染股份有限公司 2011 年第三季度季度报告全文
§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 30,2011 December 31,2010 Amount of increased / Proportion increased
Decreased Decreased
Long term share
equity investment 63,702,821 77,199,476 -13,496,655 -17.48%
Long term share equity investment decreased by RMB13.49 million and -17.48%, Mainly due to the loss to the earnings of Zhejiang
Union Hangzhou Bay Ventures Co., Ltd., an affiliated Company.
2.Analysis of the reason for big change of the items of profit statement as of the end of the report period.
n the period from January 2011 to September 2011,the company earned operating income of RMB 7.99 million on accumulative basis,
which Increased by RMB 0.47 million and 6.26% year on year. Net profit is RMB -12.32 million. compare to the data last year same
period, which loss increased by RMB 18.62 million and 292.43%.
⑴Analysis of reason for increase of operating income：
Rental income has increased.
⑵The main reason for increased of amount of loss：
Mainly due to the loss to the earnings of Zhejiang Union Hangzhou Bay Ventures Co., Ltd., an affiliated Company..
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 2,243,234 571,375 1,671,859 292.60%
Net cash flows from investing activities -101,101 -112,351 11,250 -10.01%
Net cash flows from financing activities 0 3,000,000 -3,000,000 -100.00%
The influence of change in exchange rate
On cash and cash equivalents -1,265,877 -609,156 -656,721 107.81%
Net increase of cash and cash equivalents 876,256 -3,150,132 4,026,388 -127.82%
⑴At the end of the report period, net increase in cash and cash equivalents increased by RMB 1.67 million year on year, Mainly due
to the rental income has increased in the report period；
⑵In the report period, Net cash flows from investing activities increased by RMB 10,000 year on year;
⑶At the end of the report period, There were no net cash flows from financing activities in the report period and the same period of
previous year;
⑷At the end of the report period, the influence of change in exchange rate on cash and cash equivalents decreased by RMB 0.65
million year on year;, Mainly due to RMB and HKD exchange Rate fluctuations；
⑸At the end of the report period, net increase in cash and cash equivalents increased by RMB4.02 million year on year.
3.2 The progress of significant events and influence, as well as the analysis and explanation on resolving proposal.
□applicable √ not applicable
3.2.1 Non-standard Opinion
□applicable √ not applicable
3
深圳中冠纺织印染股份有限公司 2011 年第三季度季度报告全文
3.2.2 The Company provided funds to its controlling shareholder or related parties and provided guarantees in
violation of established procedures.
□applicable √ not applicable
3.2.3 Signing and performance of significant contracts for daily operation
□applicable √ not applicable
3.2.4 Other
In the report period, the key points of company internal control are keep managing regulations and policy of the company， the
internal control group has examined the development，progression and information of the internal control for the previous period. At
the mean time, the internal control group has straightened out processes of internal control with Certified Public Accountants,
Collecting and Sorting indispensable data for hiring internal certified public accountants.
□applicable √ not applicable
3.3 The fulfillment of the commitment made by the Company , shareholders and the actual controller
Commitments made by the listed company and its directors, supervisors, senior executives, the shareholders with
holding above 5% shares and its actual controller in the report period, or lasting until the report period.
□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 Losses
Year beginning to end of next Same period of the
Increase or decrease%
report period previous year
Estimated amount of
accumulative net -1,800.00 -- -1,500.00 637.00 Decline --
profit(RMB’0000)
Basic earnings per shares
-0.11 -- -0.09 0.04 Decline --
(Yuan/share)
Due to loss impact of real estate projects of Zhejiang Union Hangzhou Bay Ventures Co., Ltd. account
Notes to forenotice of earnings
ed for on equity basis ，the accumulative net profit for 2011 is estimated to be about RMB -18 million
to RMB -15 million.
3.5 Major events needs to be explained
3.5.1 Investment in securities
√applicable □not applicable
Unit：RMB
Stock Initial Amount held Book values at Percentage of Profit and loss
No Stock type Stock code
abbreviation investment (shares) the end of total during the report
4
深圳中冠纺织印染股份有限公司 2011 年第三季度季度报告全文
amount(Yuan period(RMB) investment in period(RMB)
) this stock at
the end or
period(%)
Tianli
1 Stock 300156 Environmental 28,900.00 0 0.00 0.00% 4,625.00
Engineering
Landocean
2 Stock 300157 28,403.00 0 0.00 0.00% 5,215.00
Energy
3 Stock 002537 Haoli Matal 19,932.00 0 0.00 0.00% 19.00
4 Stock 601558 Sinovel Wnd 0.00 2,000 44,000.00 46.50% -45,000.00
5 Stock 002563 Semir Garment 0.00 1,000 50,620.00 53.50% -16,380.00
Other stock investment held at the end of report term 0.00 - 0.00 0.00% 0.00
Gain/loss of disposed stock investment in the report term - - - - 2,808.00
Total 77,235.00 - 94,620.00 100% -48,713.00
Statement on securities investment：
.
3.5.2 Reception of investigations , communications , or interviews
Discussion issue and offered
Reception Place Mode Object
information
August 29,2011
Office of board
Telephone Investor
Inquiry about the Company’s
secretary of the
Company status
Office of board Inquiry about the Company's
September 22, 2011 secretary of the Telephone Investor whether the Company has any
Company
plan for reorganization.
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, 2011 Unit：RMB
Year-end balance Year-beginning balance
Items
Consolidated Parent company Consolidated Parent company
Current asset：
Monetary fund 52,662,869.00 22,085,459.00 51,786,613.00 23,577,186.00
Settlement provision
Outgoing call loan
5
深圳中冠纺织印染股份有限公司 2011 年第三季度季度报告全文
Trading financial assets 94,620.00 94,620.00 77,235.00 77,235.00
Bill receivable
Account receivable 451,650.00 586,576.00
Prepayments 8,313.00 23,225.00
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance
contracts receivable
Interest receivable 6,646.00
Dividend receivable
Other account receivable 531,282.00 73,191,877.00 175,951.00 75,638,428.00
Repurchasing of financial
assets
Inventories 411,684.00 411,684.00 429,613.00 429,612.00
Non-current asset due in 1
year
Other current asset
Total of current assets 54,160,418.00 95,783,640.00 53,085,859.00 99,722,461.00
Non-current assets：
Loans and payment on
other’s behalf disbursed
Disposable financial asset 512,799.00 874,427.00
Expired investment in
possess
Long-term receivable
Long term share equity
63,702,821.00 37,001,782.00 77,199,476.00 38,613,199.00
investment
Property investment 35,468,643.00 5,513,931.00 39,679,004.00 6,019,483.00
Fixed assets 15,911,543.00 13,004,711.00 17,492,132.00 14,313,935.00
Construction in progress
Engineering material
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 1,924,928.00 1,924,928.00 2,049,023.00 2,049,023.00
R & D petrol
Goodwill 5,129,126.00 5,352,498.00
Long-germ expenses to be
amortized
Differed income tax asset
Other non-current asset
Total of non-current assets 122,649,860.00 57,445,352.00 142,646,560.00 60,995,640.00
Total of assets 176,810,278.00 153,228,992.00 195,732,419.00 160,718,101.00
Current liabilities
6
深圳中冠纺织印染股份有限公司 2011 年第三季度季度报告全文
Short-term loans
Loan from Central Bank
Deposit received and hold
for others
Call loan received
Trade off financial
liabilities
Bill payable
Account payable 3,286,176.00 113,564.00 3,353,297.00 115,281.00
Advance account received 2,717,669.00 1,941,451.00 2,718,175.00 1,939,819.00
Selling of repurchased
financial assets
Fees and commissions
receivable
Employees’ wage payable 596,909.00 524,391.00 620,363.00 579,911.00
Tax payable 2,945,761.00 1,714,870.00 2,914,867.00 1,723,217.00
Interest payable
Dividend payable
Other account payable 29,934,572.00 635,366.00 29,974,945.00 651,133.00
Reinsurance fee payable
Insurance contract
provision
Entrusted trading of
securities
Entrusted selling of
securities
Non-current liability due in
1 year
Other current liability 2,682,368.00 1,459,387.00 2,504,404.00 1,185,618.00
Total of current liability 42,163,455.00 6,389,029.00 42,086,051.00 6,194,979.00
Non-current liabilities：
Long-term loan 1,198,487.00 1,350,126.00
Bond payable
Long-term payable 8,535,957.00 8,907,695.00
Special payable 841,633.00 841,633.00 878,286.00 878,286.00
Expected liabilities
Differed income tax liability 855,117.00 4,036,148.00 892,357.00 4,211,921.00
Other non-current
liabilities
Total of non-current
11,431,194.00 4,877,781.00 12,028,464.00 5,090,207.00
liabilities
Total of liability 53,594,649.00 11,266,810.00 54,114,515.00 11,285,186.00
Owners’ equity
Share capital 169,142,356.00 169,142,356.00 169,142,356.00 169,142,356.00
7
深圳中冠纺织印染股份有限公司 2011 年第三季度季度报告全文
Capital reserves 39,547,397.00 31,606,598.00 39,872,534.00 31,606,598.00
Less：Shares in stock
Special reserve
Surplus reserves 26,704,791.00 26,309,287.00 26,704,791.00 26,309,287.00
Common risk provision
Undistributed profit -110,933,695.00 -81,399,219.00 -98,665,017.00 -80,137,758.00
Different of foreign currency
120,694.00 -3,696,840.00 5,874,835.00 2,512,432.00
translation
Total of owner’s equity belong to
124,581,543.00 141,962,182.00 142,929,499.00 149,432,915.00
the parent company
Minor shareholders’ equity -1,365,914.00 -1,311,595.00
Total of owners’ equity 123,215,629.00 141,962,182.00 141,617,904.00 149,432,915.00
Total of liabilities and owners’
176,810,278.00 153,228,992.00 195,732,419.00 160,718,101.00
equity
4.2 Profit statement of the report period
Prepared by：Shenzhen Victor Onward Textile Industrial Co., Ltd. July-September 2011 Unit：RMB
Report period Same period of the previous year
Items
Consolidated Parent company Consolidated Parent company
I. Total operating income 2,463,266.00 375,543.00 2,240,956.00 389,295.00
Including：Operating income 2,463,266.00 375,543.00 2,240,956.00 389,295.00
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 2,759,981.00 661,084.00 2,571,862.00 456,440.00
including：operating cost 1,216,540.00 118,588.00 828,142.00 120,033.00
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 150,448.00
Administration expenses 1,712,590.00 1,103,048.00 1,819,441.00 1,001,525.00
Financial expenses -881,765.00 -1,273,168.00 -226,169.00 -665,118.00
Losses of devaluation of assets 712,616.00 712,616.00
Add：changing income of fair
-14,116.00 -14,116.00 13,640.00
value
Investment income -3,750,137.00 -136.00 1,248,941.00 45,965.00
Including：Investment income on
8
深圳中冠纺织印染股份有限公司 2011 年第三季度季度报告全文
affiliated company and joint
venture
Exchange income
III.Operating profit -4,060,968.00 -299,793.00 931,675.00 -21,180.00
Add：non-operating income -81.00 190.00 190.00
less：non-operating expense -14.00 -6.00 791.00 -1.00
Including：disposal loss of
non-current assets
IV. Total profit -4,061,035.00 -299,787.00 931,074.00 -20,989.00
Less：expense of income tax
V. Net profit -4,061,035.00 -299,787.00 931,074.00 -20,989.00
Net profit attributable to
-4,036,157.00 -299,787.00 962,978.00 -20,989.00
owner’s equity of parent company
Minority shareholders’ gains
-24,878.00 -31,904.00
and losses
VI. Earnings per share
（i）basic earnings per share -0.02 0.01
（ii）Diluted earnings per share -0.02 0.01
VII. Other composite income -2,727,468.00 -2,834,412.00 -1,320,527.00 -1,443,228.00
VIII. Total composite income -6,788,503.00 -3,134,199.00 -389,453.00 -1,464,217.00
Total comprehensive income
attributable to owners of parent -6,788,503.00 -3,134,199.00 -389,453.00 -1,464,217.00
Company
Total comprehensive income
attributable to minority
shareholders
The merging party realized net profit of RMB 0.00 before consolidation under same control in this period.
4.3 Profit statement from Year-begin to period-end
Prepared by：Shenzhen Victor Onward Textile Industrial Co., Ltd. January-September 2011 Unit：RMB
Report period Same period of the previous year
Items
Consolidated Parent company Consolidated Parent company
I. Total operating income 7,992,076.00 1,100,856.00 7,521,544.00 916,884.00
Including：Operating income 7,992,076.00 1,100,856.00 7,521,544.00 916,884.00
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 9,773,796.00 2,313,081.00 9,249,256.00 1,491,258.00
including：operating cost 3,547,980.00 358,137.00 3,188,566.00 -172,062.00
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
9
深圳中冠纺织印染股份有限公司 2011 年第三季度季度报告全文
Reinsurance expense
Operating tax and extras
Sales expenses 527,740.00
Administration expenses 6,028,863.00 3,805,251.00 6,116,880.00 3,707,223.00
Financial expenses -515,663.00 -2,562,923.00 -583,930.00 -2,043,903.00
Losses of devaluation of assets 712,616.00 712,616.00
Add：changing income of fair
-62,718.00 -62,718.00 -4,046.00
value
Investment income -10,484,864.00 14,005.00 8,028,643.00 152,808.00
Including：Investment income on
affiliated company and joint
venture
Exchange income
III.Operating profit -12,329,302.00 -1,260,938.00 6,296,885.00 -421,566.00
Add：non-operating income 8,332.00 190.00 190.00
less：non-operating expense 1,503.00 523.00 1,050.00 198.00
Including：disposal loss of
non-current assets
IV. Total profit -12,322,473.00 -1,261,461.00 6,296,025.00 -421,574.00
Less：expense of income tax
V. Net profit -12,322,473.00 -1,261,461.00 6,296,025.00 -421,574.00
Net profit attributable to
-12,268,678.00 -1,261,461.00 6,375,682.00 -421,574.00
owner’s equity of parent company
Minority shareholders’ gains
-53,795.00 -79,657.00
and losses
VI. Earnings per share
（i）basic earnings per share -0.07 0.04
（ii）Diluted earnings per share -0.07 0.04
VII. Other composite income -6,115,769.00 -6,209,272.00 -3,356,229.00 -2,899,475.00
VIII. Total composite income -18,438,242.00 -7,470,733.00 2,939,796.00 -3,321,049.00
Total comprehensive income
attributable to owners of parent -18,438,242.00 -7,470,733.00 2,927,399.00 -3,321,049.00
Company
Total comprehensive income
attributable to minority 12,397.00
shareholders
The merging party realized net profit of RMB 0.00 before consolidation under same control that occurred from year-begin to end of
this period.
4.4 Cash flow statement from Year-begin to period-end
Prepared by：Shenzhen Victor Onward Textile Industrial Co., Ltd. January-September 2011 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
8,340,213.00 1,327,674.00 8,673,135.00 3,006,903.00
goods or rending of services
Net increase of customer
deposits and capital kept for
10
深圳中冠纺织印染股份有限公司 2011 年第三季度季度报告全文
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
387,311.00 387,311.00
financial asset disposal
Cash received as interest,
processing fee and
commission
Net increase of inter-bank
fund received
Net increase of repurchasing
business
Tax returned 186,324.00 105,246.00
Other cash received from
650,651.00 1,068,588.00 1,367,117.00 873,610.00
business operation
Sub-total of cash inflow 8,990,864.00 2,396,262.00 10,613,887.00 4,373,070.00
Cash paid for purchasing
735,503.00 735,503.00 2,478,077.00 1,478,077.00
of merchandise and services
Net increase of client
trade and advance
Net increase of savings n
central bank and brother
company
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
2,310,675.00 1,385,647.00 2,382,223.00 1,388,134.00
for staffs
Taxes paid 1,378,168.00 617,434.00 1,473,844.00 640,531.00
Other cash paid for business
2,323,284.00 1,146,480.00 3,708,368.00 1,506,483.00
activities
Sub-total of cash outflow
6,747,630.00 3,885,064.00 10,042,512.00 5,013,225.00
from business activities
Cash flow generated by
2,243,234.00 -1,488,802.00 571,375.00 -640,155.00
business operation, net
11
深圳中冠纺织印染股份有限公司 2011 年第三季度季度报告全文
II. Cash flow generated by
investing
Cash received from
investment retrieving
Cash received as investment
3,348.00
gains
Net cash retrieved from
disposal of fixed assets,
10,000.00 10,000.00 9,739.00 9,739.00
intangible assets, and other
long-term assets
Net cash received from
disposal of subsidiaries or
other operational units
Other investment-related
cash received
Sub-total of cash inflow due
10,000.00 10,000.00 13,087.00 9,739.00
to investment activities
Cash paid for construction
of fixed assets, intangible
111,101.00 125,438.00
assets and other long-term
assets
Cash paid as investment
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
111,101.00 125,438.00
due to investment activities
Net cash flow generated by
-101,101.00 10,000.00 -112,351.00 9,739.00
investment
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 3,000,000.00
Cash paid as dividend,
profit, or interests
12
深圳中冠纺织印染股份有限公司 2011 年第三季度季度报告全文
Incl: Dividend and profit
paid by subsidiaries to minor
shareholders
Other cash paid for
financing activities
Sub-total of cash outflow
3,000,000.00
due to financing activities
Net cash flow generated by
-3,000,000.00
financing
IV.Influence of exchange rate
alternation on cash and cash -1,265,877.00 -12,925.00 -609,156.00 -64,416.00
equivalents
V.Net increase of cash and
876,256.00 -1,491,727.00 -3,150,132.00 -694,832.00
cash equivalents
Add: balance of cash and
cash equivalents at the 51,786,613.00 23,577,186.00 56,105,626.00 24,960,502.00
beginning of term
VI. Balance of cash and cash
52,662,869.00 22,085,459.00 52,955,494.00 24,265,670.00
equivalents at the end of term
4.5 Auditor’s report
Auditor’s opinions: Not audited
The Board of Directors of Shenzhen Victor Onward Textile Industrial Co., Ltd.
October 28, 2011
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