Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report For 2009(Full Text)
1
Shenzhen Zhongheng Huafa Co., Ltd.
The Third Quarterly Report For 2009
(Full Text)
§1. Important Notes
1.1 Board of Directors and the Supervisory Committee of Shenzhen Zhongheng Huafa Co., Ltd.
(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 2009 has not been audited by CPAs.
1.3 Principal of the Company Li Zhongqiu, Person in Charge of Accounting Works Fu Yanhua and
Person in Charge of Accounting Organ (Accounting Officer) Sun Wei 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:
Unit: RMB
Sep. 30, 2009 Dec. 31, 2008 Increase/decrease scope
(%)
Total assets (RMB) 695,299,736.50 446,670,716.88 55.66%
Owners’ equities attributable to the
shareholders of listed company
(RMB)
257,914,436.87 247,809,266.16 4.08%
Share capital (Share) 283,161,227.00 283,161,227.00 0.00%
Net assets per share attributable to
the shareholders of listed company
(RMB/Share)
0.91084 0.87515 4.08%
July-Sep. 2009
Increase/decrease
over the same
period of the last
year (%)
Jan.-Sep. 2009
Increase/decrease
over the same
period of the last
year (%)
Total operating income (RMB) 158,352,663.78 304.89% 370,475,322.72 231.28%
Net profit attributable to the
shareholders of listed company
(RMB)
5,745,947.91 448.10% 10,105,170.71 -
Net cash flow arising from operating
activities (RMB) - - -69,945,095.04 -4,085.15%
Net cash flow arising from operating
activities per share (RMB/Share) - - -0.2470 -4,085.15%
Basic earnings per share
(RMB/Share) 0.0203 448.65% 0.0357 -
Diluted earnings per share
(RMB/Share) 0.0203 448.65% 0.0357 -
Return on equity (%) 2.23% Increased 1.79
percentage points 3.92% Increased 4.52
percentage points
Return on equity after deducting
non-recurring gains and losses (%) 2.20% Increased 2.35 3.94% Increased 5.89Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report For 2009(Full Text)
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percentage points percentage points
Unit: RMB
Items of non-recurring gains and losses Amount from year begin to
the end of report period Remarks
Other non-operating income and expenditure beside for the
aforementioned items -45,118.79 -
Total -45,118.79 -
2.2 Total number of shareholders at the end of the report period and shares held by the top ten
shareholders with unrestricted conditions
Unit: Share
Total number of shareholders
at the end of report period 26,088
Particulars about the shares held by the top ten shareholders with unrestricted conditions
Full Name of shareholder Unrestricted shares held Type of shares
SEG (HONG KONG) CO., LTD. 16,569,560 Domestically listed foreign share
GOOD HOPE CORNER INVESTMENTS
LTD 13,900,000 Domestically listed foreign share
LIU JIANG 3,181,519 RMB common share
Taiyuan Tangdu Hotel Co., Ltd. 1,635,821 RMB common share
BINGHUA LIU 876,213 Domestically listed foreign share
ZHU SHI JIE 752,988 Domestically listed foreign share
LIU LIAO YUAN 734,200 Domestically listed foreign share
ZHU MING 611,348 Domestically listed foreign share
DBS VICKERS(HONG KONG) LTD A/C
CLIENTS 591,150 Domestically listed foreign share
LUO YA 589,800 Domestically listed foreign share
§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)Merger amount of monetary capital: increased by RMB 66,516,517.28 over that of period-begin,
with growth rate of 274%. Main reasons accounting for the growth: increasing sales and the
Company cooperated with banks to develop business in Remittance, Loan and Profit.
(2)Merger amount of note receivables: increased by RMB 2,753,135.43 over that of period-begin,
with growth rate of 41%. Main reasons accounting for the growth: increasing sales.
(3)Merger amount of account receivables: increased by RMB 104,927,355.75 over that of
period-begin, with growth rate of 107%. Main reasons accounting for the growth: increasing sales.
(4)Merger amount of account paid in advance: increased by RMB 1,050,172.53 over that of
period-begin, with growth rate of 51%. Main reasons accounting for the growth: increasing sales.
(5) Merger amount of other receivables: increased by RMB 14,538,237.39 over that of period-begin,
with growth rate of 93%. Main reasons accounting for the growth: increase in property lease.
(6)Merger amount of inventory: increased by RMB 67,986,928.16 over that of period-begin, withShenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report For 2009(Full Text)
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growth rate of 135%. Main reasons accounting for the growth: increasing sales.
(7)Amount of long-term equity investment of parent company: increased by RMB 95,217,750.00
over that of period-begin, with growth rate of 313%. Main reasons accounting for the growth:
increasing capital in subsidiaries.
(8)Merger amount of construction in process: increased by RMB 546,271.98 over that of
period-begin, with growth rate of 34%. Main reasons accounting for the growth: investment was
made in technical reform project of circuit board department.
(9)Merger amount of long-term deferred expenses: increased by RMB 1,374,999.48 over that of
period-begin. Main reasons accounting for the growth: expenses amortization of long-term loans.
(10)Merger amount of short-term loans: decreased by RMB 70,518,146.67 over that of period-begin,
with declining rate of 75%. Main reasons accounting for the decline: part short-term loans were
repaid to banks.
(11)Merger amount of note payables: increased by RMB 18,582,242.06 over that of period-begin,
with growth rate of 542%. Main reasons accounting for the growth: increasing sales.
(12)Merger amount of account payables: increased by RMB 100,869,607.58 over that of
period-begin, with growth rate of 202%. Main reasons accounting for the growth: increasing sales.
(13)Merger amount of account received in advance: decreased by RMB 1,158,722.54 over that of
period-begin, with declining rate of 59%. Main reasons accounting for the decline: part
finished-products had been delivered.
(14)Merger amount of wages payables: increased by RMB 548,885.02 over that of period-begin, with
growth rate of 60%. Main reasons accounting for the growth: increasing employees of the Company.
(15)Merger amount of tax payables: decreased by RMB 3,125,779.50 over that of period-begin. Main
reasons accounting for the decline: various taxes were paid off promptly.
(16)Merger amount of other payables: decreased by RMB 29,755,037.04 over that of period-begin,
with declining rate of 65%. Main reasons accounting for the decline: decreasing current money.
(17)Merger amount of long-term loans: increased by RMB 223,080,800.00 over that of period-begin.
Main reasons accounting for the growth: increasing long-term loans from banks.
(18)Merger amount of operating income: increased by RMB 258,644,416.27 over that of the same
period of last year, with growth rate of 231%. Main reasons accounting for the growth: increasing
sales.
(19)Merger amount of operating cost: increased by RMB 223,162,717.62 over that of the same
period of last year, with growth rate of 238%. Main reasons accounting for the growth: increasing
sales.
(20)Merger amount of business tax and extra: increased by RMB 753,243.26 over that of the same
period of last year, with growth rate of 50%. Main reasons accounting for the growth: increasing
sales.
(21)Merger amount of sales expenses: increased by RMB 1,015,931.86 over that of the same period
of last year, with growth rate of 32%. Main reasons accounting for the growth: increasing sales.
(22)Merger amount of administration expenses: increased by RMB 11,205,634.77 over that of the
same period of last year, with growth rate of 69%. Main reasons accounting for the growth: change in
consolidation scope.
(23)Merger amount of financial expenses: increased by RMB 3,770,370.38 over that of the same
period of last year, with growth rate of 74%. Main reasons accounting for the growth: increasing
loans.
(24)Merger amount of assets impairment reserve: decreased by RMB 610,911.88 over that of the
same period of last year. Main reasons accounting for the decline: capital operation turned to be
better in some degree.Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report For 2009(Full Text)
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(25)Merger amount of investment income: decreased by RMB 3,807,841.62 over that of the same
period of last year. Main reasons accounting for the decline: profit received from external investment
had been decreased.
(26)Merger amount of operating profit: increased by RMB 15,539,588.64 over that of the same
period of last year. Main reasons accounting for the growth: increasing sales brought along increasing
profit.
(27)Merger amount of non-operating income: decreased by RMB 4,125,574.68 over that of the same
period of last year, with declining rate of 95%. Main reasons accounting for the decline: decreasing
income received from lease of properties of Huafa Courtyard this year.
(28)Merger amount of non-operating expenditure: decreased by RMB 846,660.57 over that of the
same period of last year, with declining rate of 77%. Main reasons accounting for the decline: the
Company made public donation last year, while no such expenditure happened this year.
(29)Merger amount of total profit: increased by RMB 12,260,674.53 over that of the same period of
last year. Main reasons accounting for the growth: increasing sales.
(30)Merger amount of income tax: increased by RMB 700,446.79 over that of the same period of last
year. Main reasons accounting for the growth: Wuhan subsidiary made profit and income tax expense
was withdrawn.
(31)Merger amount of net profit: increased by RMB 11,560,227.74 over that of the same period of
last year. Main reasons accounting for the growth: increasing sales.
(32)Merger amount of net cash flow arising from operating activities from Jan. to Sep.: decreased by
4,085.15% over that of the same period of last year. Main reasons accounting for the decline:
increasing sales resulted in increases in account receivable and inventories.
(33) Merger amount of total assets: increased by 55.66% compared with that in period-begin. Main
reasons accounting for the growth: increasing sales resulted in increases in account receivable and
inventories.
3.2 Progress of significant events, their influences, and analysis and explanation of their solutions
√Applicable □Inapplicable
In May of 2009, the Company appealed to Shenzhen Futian People’s Court for that Shenzhen
Wanshang Friendship Department Store Co., Ltd. did not pay rent as House Leasing Contract, and
read the Notice dated May 22, 2009 for details. In order to solve the dispute preferentially through
other ways, recently the Company has applied to the Court for withdrawing the accusation, the Court
agreed to withdraw the prosecution of the Company. The matter involved has disclosed on Sep. 3,
2009.
3.3 Implementations of commitments by the Company, shareholders and actual controller
√Applicable □Inapplicable
Commitments Content of commitments Implementation
Commitments for Share Merger
Reform Naught Naught
Commitments on share restriction
for trading
Promised that the holding
non-circulating shares of the
Company won’t be traded on
the market within 36 months
since they acquired listed
trading right.
Under implementation
Commitments made in Acquisition
Report or Reports on Change in
Interests
Plan to transfer the relevant
assets concerning plastic
injection business and the
1. Wuhan Zhongheng Group didn’t finish the
assets injection within the commitment term;
2. On Jun. 5, 2008, with examination and approvalShenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report For 2009(Full Text)
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70% equities of Wuhan
Hengsheng Photoelectricity
Industry Co., Ltd. held by it
to the Company within 1 year
after equity ownership
transfer of the purchase was
accomplished.
from the 3rd temporary meeting of the Board for
2008, the Company took cash RMB 27 million to
buy relevant assets concerning production of
injection products from Wuhan Zhongheng Group,
and thus part commitment had been finished;
3. In the first 10 days of May 2008, the Company
officially started off the significant asset
restructure work of purchasing the 70% equities of
Wuhan Hengsheng Photoelectricity Industry Co.,
Ltd.; engaged financial consultant and law
consultant to carry out earnest investigation on the
restructure assets that may be involved, and
negotiated with relevant departments which were
in charge of this. However, due to that relevant
condition was not mature, there were obstacles in
material asset restructure and paused the planning
in short time.
Commitments made in Material
Assets Reorganization Naught Naught
Commitments made in issuing Naught Naught
Other commitments (including
additional commitments) Naught Naught
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
(1) The shareholders who held above 30% shares of the Company did not put forward plan on
increasing shareholdings.
(2) The Company neither provided capital for controlling shareholders or related parties, nor
disobeyed regulations and procedure to provide external guarantee.
3.5.1 Activities on receiving research, communication and interview in the report period
In the report period, the Company did not receive spot research, telephone communications or
written enquiries from the investors.
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 Zhongheng Huafa Co., Ltd. Sep. 30, 2009 Unit: RMB
Items
Balance at period-end Balance at year-beginShenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report For 2009(Full Text)
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Consolidation Parent Company Consolidation Parent Company
Current assets:
Monetary funds 90,831,171.84 49,754,401.80 24,314,654.56 23,236,402.77
Settlement provisions
Capital lent
Transaction finance asset
Notes receivable 9,520,997.44 8,535,997.44 6,767,862.01 6,767,862.01
Accounts receivable 203,324,606.75 115,580,364.96 98,397,251.00 98,372,655.00
Accounts paid in advance 3,096,449.59 728,518.35 2,046,277.06 1,966,277.06
Insurance receivable
Reinsurance receivables
Contract reserve of
reinsurance receivable
Interest receivable
Dividend receivable
Other receivables 30,114,476.42 58,515,684.62 15,576,239.03 15,883,360.82
Purchase restituted finance
asset
Inventories 118,447,182.28 73,471,134.05 50,460,254.12 50,350,104.12
Non-current asset due within
one year
Other current assets
Total current assets 455,334,884.32 306,586,101.22 197,562,537.78 196,576,661.78
Non-current assets:
Granted loans and advances
Finance asset available for
sales
Held-to-maturity investment
Long-term account
receivable
Long-term equity investment 125,683,539.00 30,465,789.00
Investment property 41,045,890.13 41,045,890.13 42,938,764.28 42,938,764.28
Fixed assets 185,406,533.92 135,693,782.20 194,494,830.65 176,935,860.29
Construction in progress 2,171,154.01 1,354,836.79 1,624,882.03 1,135,030.03
Engineering material
Disposal of fixed asset
Productive biological asset
Oil and gas asset
Intangible assets 6,169,646.13 6,169,646.13 6,253,073.63 6,253,073.63
Expense on Research and
Development
Goodwill
Long-term expenses to be
apportioned 1,374,999.48 1,374,999.48
Deferred income tax asset 3,796,628.51 4,813,975.21 3,796,628.51 4,813,975.21Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report For 2009(Full Text)
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Other non-current asset
Total non-current asset 239,964,852.18 316,136,668.94 249,108,179.10 262,542,492.44
Total assets 695,299,736.50 622,722,770.16 446,670,716.88 459,119,154.22
Current liabilities:
Short-term loans 23,481,853.33 23,481,853.33 94,000,000.00 94,000,000.00
Loan from central bank
Absorbing deposit and
interbank deposit
Capital borrowed
Transaction financial
liabilities
Notes payable 22,012,007.32 3,429,765.26 3,429,765.26
Accounts payable 150,764,727.06 39,511,528.99 49,895,119.48 49,732,770.38
Accounts received in
advance 804,229.57 26,764,229.57 1,962,952.11 1,962,952.11
Selling financial asset of
repurchase
Commission charge and
commission payable
Wage payable 1,457,176.66 616,418.84 908,291.64 844,458.29
Taxes payable -359,566.42 -96,907.70 2,766,213.08 2,678,179.46
Interest payable
Dividend payable
Other accounts payable 15,768,597.70 44,459,006.07 45,523,634.74 53,272,582.46
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Non-current liabilities due
within 1 year
Other current liabilities
Total current liabilities 213,929,025.22 134,736,129.10 198,485,976.31 205,920,707.96
Non-current liabilities:
Long-term loans 223,080,800.00 223,080,800.00
Bonds payable
Long-term account payable
Special accounts payable
Projected liabilities 175,474.41 175,474.41 175,474.41 175,474.41
Deferred income tax liabilities
Other non-current liabilities 200,000.00 200,000.00 200,000.00 200,000.00
Total non-current liabilities 223,456,274.41 223,456,274.41 375,474.41 375,474.41
Total liabilities 437,385,299.63 358,192,403.51 198,861,450.72 206,296,182.37
Owner’s equity (or shareholders’
equity):
Paid-in capital (or share 283,161,227.00 283,161,227.00 283,161,227.00 283,161,227.00Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report For 2009(Full Text)
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capital)
Capital public reserve 104,073,326.94 104,073,326.94 104,073,326.94 104,073,326.94
Less: Inventory shares
Reasonable reserve
Surplus public reserve 77,391,593.25 77,391,593.25 77,391,593.25 77,391,593.25
Provision of general risk
Retained profit -206,711,710.32 -200,095,780.54 -216,816,881.03 -211,803,175.34
Balance difference of
foreign currency translation
Total owner’s equity attributable
to parent company 257,914,436.87 264,530,366.65 247,809,266.16 252,822,971.85
Minority interests
Total owner’s equity 257,914,436.87 264,530,366.65 247,809,266.16 252,822,971.85
Total liabilities and owner’s
equity 695,299,736.50 622,722,770.16 446,670,716.88 459,119,154.22
4.2 Profit statement in the report period
Prepared by Shenzhen Zhongheng Huafa Co., Ltd. July-Sep. 2009 Unit: RMB
This period The same period of last year
Items Consolidation Parent Company Consolidation Parent Company
I. Total operating income 158,352,663.78 39,274,598.61 39,109,706.43 38,659,730.43
Including: Operating income 158,352,663.78 39,274,598.61 39,109,706.43 38,659,730.43
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 151,990,714.72 35,820,879.81 41,095,412.23 40,647,036.23
Including: Operating cost 136,531,537.49 29,714,024.33 32,266,051.65 31,973,051.60
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 436,911.09 325,855.42 500,022.52 476,623.76
Sales expenses 1,170,440.68 7,335.04 970,279.87 970,279.87
Administration expenses 10,527,902.71 2,691,752.56 5,105,834.70 5,106,094.70
Financial expenses 3,323,922.75 3,081,912.46 2,121,652.06 2,120,986.30
Losses of devaluation of
asset 131,571.43
Add: Changing income of
fair value(Loss is listed with “-”)Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report For 2009(Full Text)
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Investment income (Loss is
listed with “-”) 1,617,621.91 1,617,621.91
Including: Investment
income on affiliated company
and joint venture
Exchange income (Loss is
listed with “-”)
III. Operating profit (Loss is
listed with “-”) 6,361,949.06 3,453,718.80 -368,083.89 -369,683.89
Add: Non-operating income 90,337.00 90,337.00 1,633,351.23 1,633,351.23
Less: Non-operating
expense 5,891.36 5,871.00 216,931.09 215,331.09
Including: Disposal loss of
non-current asset
IV. Total Profit (Loss is listed
with “-”) 6,446,394.70 3,538,184.80 1,048,336.25 1,048,336.25
Less: Income tax expense 700,446.79
V. Net profit (Net loss is listed
with “-”) 5,745,947.91 3,538,184.80 1,048,336.25 1,048,336.25
Net profit attributable to
owner’s of parent company 5,745,947.91 3,538,184.80 1,048,336.25 1,048,336.25
Minority shareholders’ gains
and losses
VI. Earnings per share
i. Basic earnings per share 0.0203 0.0125 0.0037 0.0037
ii. Diluted earnings per share 0.0203 0.0125 0.0037 0.0037
VII. Other consolidated income
VIII. Total consolidated income 5,745,947.91 3,538,184.80 1,048,336.25 1,048,336.25
Total consolidated income
attributable to owners of parent
company
5,745,947.91 3,538,184.80 1,048,336.25 1,048,336.25
Total consolidated income
attributable to minority
shareholders
4.3 Profit statement from year-begin to the end of report period
Prepared by Shenzhen Zhongheng Huafa Co., Ltd. Jan.-Sep. 2009 Unit: RMB
Amount in this period Amount in last period
Items Consolidation Parent Company Consolidation Parent Company
I. Total operating income 370,475,322.72 180,862,015.63 111,830,906.45 110,368,334.45
Including: Operating income 370,475,322.72 180,862,015.63 111,830,906.45 110,368,334.45
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 359,624,586.43 172,623,565.28 120,327,600.42 118,866,976.32
Including: Operating cost 316,949,913.23 148,085,386.28 93,787,195.61 92,894,393.09
Interest expense
Commission charge andShenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report For 2009(Full Text)
10
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 2,267,627.23 1,975,936.12 1,514,383.97 1,438,330.23
Sales expenses 4,197,476.22 1,804,306.49 3,181,544.36 3,181,544.36
Administration expenses 27,349,030.56 12,667,272.60 16,143,395.79 15,783,959.58
Financial expenses 8,860,539.19 8,090,663.79 5,090,168.81 5,089,408.61
Losses of devaluation of
asset 610,911.88 479,340.45
Add: Changing income of
fair value
Investment income 3,807,841.62 3,807,841.62
Including: Investment
income on affiliated company
and joint venture
Exchange income
III. Operating profit 10,850,736.29 8,238,450.35 -4,688,852.35 -4,690,800.25
Add: Non-operating
income 211,226.30 3,725,269.18 4,336,800.98 4,336,800.98
Less: Non-operating
expense 256,345.09 256,324.73 1,103,005.66 1,101,057.76
Including: Disposal loss
of non-current asset
IV. Total Profit 10,805,617.50 11,707,394.80 -1,455,057.03 -1,455,057.03
Less: Income tax expense 700,446.79
V. Net profit 10,105,170.71 11,707,394.80 -1,455,057.03 -1,455,057.03
Net profit attributable to
owner’s of parent company 10,105,170.71 11,707,394.80 -1,455,057.03 -1,455,057.03
Minority shareholders’
gains and losses
VI. Earnings per share
i. Basic earnings per share 0.0357 0.0413 -0.0051 -0.0051
ii. Diluted earnings per share 0.0357 0.0413 -0.0051 -0.0051
VII. Other consolidated
income
VIII. Total consolidated
income 10,105,170.71 11,707,394.80 -1,455,057.03 -1,455,057.03
Total consolidated income
attributable to owners of parent
company
10,105,170.71 11,707,394.80 -1,455,057.03 -1,455,057.03
Total consolidated income
attributable to minority
shareholdersShenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report For 2009(Full Text)
11
4.4 Cash flow statement from year-begin to the end of report period
Prepared by Shenzhen Zhongheng Huafa Co., Ltd. Jan.-Sep. 2009 Unit: RMB
Amount in this period Amount in last period
Items Consolidation Parent Company Consolidation Parent Company
I. Cash flows arising from
operating activities:
Cash received from selling
commodities and providing labor
services
240,684,728.69 162,455,583.13 123,377,412.21 121,923,842.71
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 received
Other cash received
concerning operating activities 28,718,421.30 73,643,930.98 9,023,997.32 9,023,997.32
Subtotal of cash inflow
arising from operating activities 269,403,149.99 236,099,514.11 132,401,409.53 130,947,840.03
Cash paid for purchasing
commodities and receiving labor
service
187,443,134.65 157,068,868.96 98,294,776.04 98,294,776.04
Net increase of customer
loans and advances
Net increase of deposits in
central bank and interbank
Cash paid for original
insurance contract compensation
Cash paid for interest,
commission charge and
commission
Cash paid for bonus of
guarantee slip
Cash paid to/for staff and
workers 20,193,360.18 9,519,901.42 18,734,536.57 18,162,705.01Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report For 2009(Full Text)
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Taxes paid 3,809,295.17 3,446,958.35 5,424,480.78 5,317,987.07
Other cash paid concerning
operating activities 127,902,455.03 122,761,703.87 11,618,883.45 9,823,067.41
Subtotal of cash outflow
arising from operating activities 339,348,245.03 292,797,432.60 134,072,676.84 131,598,535.53
Net cash flows arising from
operating activities -69,945,095.04 -56,697,918.49 -1,671,267.31 -650,695.50
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
135,000.00 135,000.00
Net cash received from
disposal of subsidiaries and other
units
Other cash received
concerning investing activities
Subtotal of cash inflow from
investing activities 135,000.00 135,000.00
Cash paid for purchasing
fixed, intangible and other
long-term assets
4,916,736.06 424,752.86 1,046,336.22 1,046,336.22
Cash paid for investment 60,636,991.79
Net increase of mortgaged
loans
Net cash received from
subsidiaries and other units
Other cash paid concerning
investing activities 2,899,313.79 7,500,000.00 7,500,000.00
Subtotal of cash outflow from
investing activities 7,816,049.85 61,061,744.65 8,546,336.22 8,546,336.22
Net cash flows arising from
investing activities -7,816,049.85 -61,061,744.65 -8,411,336.22 -8,411,336.22
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 253,481,853.33 253,481,853.33 104,405,800.00 104,405,800.00
Cash received from issuing
bonds
Other cash received
concerning financing activities
Subtotal of cash inflow from
financing activities 253,481,853.33 253,481,853.33 104,405,800.00 104,405,800.00
Cash paid for settling debts 100,919,200.00 100,919,200.00 60,400,000.00 60,400,000.00
Cash paid for dividend and 8,215,802.25 8,215,802.25 4,206,538.34 4,206,538.34Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report For 2009(Full Text)
13
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 109,135,002.25 109,135,002.25 64,606,538.34 64,606,538.34
Net cash flows arising from
financing activities 144,346,851.08 144,346,851.08 39,799,261.66 39,799,261.66
IV. Influence on cash and cash
equivalents due to fluctuation in
exchange rate
-69,188.91 -69,188.91 -636,140.74 -636,140.74
V. Net increase of cash and cash
equivalents 66,516,517.28 26,517,999.03 29,080,517.39 30,101,089.20
Add: Balance of cash and
cash equivalents at the period
-begin
24,314,654.56 23,236,402.77 18,308,223.25 17,175,103.18
VI. Balance of cash and cash
equivalents at the period -end 90,831,171.84 49,754,401.80 47,388,740.64 47,276,192.38
4.5 Auditor’s report
Auditor’s opinions: Un-audited
Board of the Directors of
Shenzhen Zhongheng Huafa Co., Ltd.
October 29, 2009
