Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report for 2011(Full Text)
Shenzhen Zhongheng Huafa Co., Ltd.
The Third Quarterly Report For 2011
(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 2011 has not been audited by CPAs.
1.3 Principal of the Company Li Zhongqiu, Person in Charge of Accounting Works Jiang Yanjun
and Person in Charge of Accounting Organ (Accounting Officer) Jiang Yanjun hereby confirm that
the Financial Report of the Third Quarterly Report is true and complete.
§2. Company Profile
2.1 Main accounting highlights and financial indexes:
In RMB Yuan
2011.9.30 2010.12.31 Increase/decrease scope (%)
Total assets (RMB) 915,403,912.85 725,894,326.42 26.11%
Owners’ equities
attributable to the
275,628,227.22 266,564,632.01 3.40%
shareholders of listed
company (RMB)
Share capital (Share) 283,161,227.00 283,161,227.00 0.00%
Net assets per share
attributable to the
0.97 0.94 3.19%
shareholders of listed
company (RMB/Share)
Increase/dec Increase/decrease over the
rease over same period of the last year
July-Sept. 2011 the same Jan.-Sept. 2011 Before After
period of retroactive retroactive
the last year adjustment adjustment
Total operating income
224,433,933.93 41.38% 685,932,871.16 30.62% 30.62%
(RMB)
Net profit attributable to
the shareholders of listed -217,129.42 69.02% 9,063,595.21 -45.64% -7.25%
company (RMB)
Net cash flow arising from
- - -4,873,139.28 - -
operating activities (RMB)
Net cash flow arising from
operating activities per - - -0.02 - -
share (RMB/Share)
Basic earnings per share
-0.0008 69.02% 0.0320 -45.64% -7.25%
(RMB/Share)
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Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report for 2011(Full Text)
Diluted earnings per share
-0.0008 69.02% 0.0320 -45.64% -7.25%
(RMB/Share)
Increase Decrease
Decrease 0.41
Weighted average return on 0.19 3.07
-0.08 3.34 percentage
equity (%) percentage percentage
points
points points
Weighted average return on Increase Decrease
Decrease 0.14
equity after deducting 0.33 0.14
0.06 3.50 percentage
non-recurring gains/losses percentage percentage
points
(%) points points
Note: Assets replacement have completed in first quarterly of 2010, profit from replacement, more
than RMB 6.9 million, was recognized as “non-operating income” for accounting treatment base on
requirement of “Accounting Standards for Business Enterprises” which collected as non-recurring
gains/losses. In auditing for 2010, CPA reckoned the abovementioned event into “Capital reserve”
for its characteristic of capital investment from the point of conservatism principle in accounting,
according to the “Explanation for Supervision of Accounting Principles that Implemented by Listed
Company” (KJBH[2009] No.60) distributed by CSRC in April of 2009. Therefore, corresponding
retroactive adjustment was conducted for financial data carried in January to September of 2010.
Items of non-recurring gains and losses
√Applicable □Inapplicable
In RMB Yuan
Remarks(If
Items of non-recurring gains and losses Amount
applicable)
Other non-operating income and expenditure beside
-433,409.14
for the aforementioned items
Total -433,409.14 -
2.2 Total number of shareholders at the end of the report period and shares held by the top
ten shareholders with unrestricted conditions
In Share
Total number of shareholders
28,624
at the end of report period
Particulars about the shares held by the top ten shareholders with unrestricted conditions
Unrestricted shares held at
Full Name of shareholder Type of shares
period-end
SEG (HONG KONG) CO., LTD. 16,569,560 Domestically listed foreign share
GOOD HOPE CORNER
13,900,000 Domestically listed foreign share
INVESTMENTS LTD
Chen Zhuzhan 1,311,538 Domestically listed foreign share
Jian Wenjun 1,239,232 RMB common share
BINGHUA LIU 876,213 Domestically listed foreign share
Li Jianfeng 781,718 Domestically listed foreign share
Chen Hongyun 740,250 RMB common share
Zhu Ming 611,348 Domestically listed foreign share
DBS VICKERS (HONG KONG)
581,150 Domestically listed foreign share
LTD A/C CLIENTS
Zheng Qiaofeng 534,000 Domestically listed foreign share
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Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report for 2011(Full Text)
§3. Significant events
3.1 Particulars about material changes in items of main accounting statement and financial
index, and explanations of reasons
√Applicable □Inapplicable
Item 2011-9-30 2010-12-31 Increase/decrease Reasons for changes
Monetary Short-term loans increase in
235,160,081.77 113,686,755.85 106.85%
fund report period
Sales income increase in report
Note
47,284,283.78 26,574,387.66 77.93% period, note receivable increase
receivable
correspondingly
More investment in project of
Construction dormitory for subsidiary –
8,346,976.14 5,641,008.31 47.97%
in process Wuhan Hengfa Technology Co.,
Ltd.
Short-term loans from
subsidiary-- Wuhan Hengfa
Short-term
231,338,635.28 66,073,930.00 250.12% Technology Co., Ltd. increased
loans
for supplemented circulating
capitals
VAT input taxes of video
Taxes payable -2,689,290.11 5,169,117.15 - business gains a dramatically
growth
Other account Equipment payable and lawsuit
23,745,364.57 17,667,880.97 34.40%
payable compensation increased
Un-settled lawsuits close in this
Projected
1,389,781.77 4,995,395.63 -72.18% period, accrued projected
liabilities
liabilities have been offset
Item Jan.-Sept. 2011 Jan.-Sept. 2010 Increase/decrease Reasons for changes
Operating Sales of video business increased
685,932,871.16 525,153,122.53 30.62%
income in report period
Cost of video business growth
Operating
622,592,144.54 469,427,601.57 32.63% due to the increase of
cost
productivity in report period
Non-operating Closed lawsuits increase more
452,685.14 47,093.91 861.24%
expenditure expenses
Cash paid for
purchasing
Expenses increased for more
commodities 581,598,684.62 409,453,833.73 42.04%
production in video business
and receiving
labor service
Net cash
flows arising Part of the account receivable
from -4,873,139.28 59,292,737.50 - owes more account age than
operating same period of last year
activities
Cash paid for More investment in foundation
purchasing facilities of plants, warehouse,
12,214,294.55 18,431,756.33 -33.73%
fixed, machinery equipment etc. than
intangible and same period of last year
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Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report for 2011(Full Text)
other
long-term
assets
Short-term loans of subsidiary--
Cash received
440,969,749.05 224,341,494.98 96.56% Wuhan Hengfa Technology Co.,
from loans
Ltd increased
Cash paid for
285,741,581.46 154,119,677.94 85.40% More short-term loans were paid
settling debts
3.2 Progress of significant events, their influences, and analysis and explanation of their
solutions
3.2.1 Qualified opinion
□Applicable √Inapplicable
3.2.2 Particular about fund offers to controlling shareholders or associated parties and
external guarantee that against the regulation.
□Applicable √Inapplicable
3.2.3 Particular about signing and implementation on significant contracts of ordinary
management.
□Applicable √Inapplicable
3.2.4 Other
√Applicable □Inapplicable
1. In this report period, according to the requirement of Notice to Working Relevant to Experimental
Spots of Normalized Internal Control of Listed Companies in Shenzhen (SZJGSZi [2011] No. 31)
issued by Shenzhen SRC as well as Working Program of Implementation of Normalized Internal
Control, regulated by the Company, the Company activity performing construction of internal
control. Till end of this period, first phase of the program was completed basically. Concerning the
major internal control procedures related with financial statements, the Company has organized and
identified its risks; find out flaws carried in internal control and formulated corresponding reforming
plan for those flaws.
2. The Company signed House Leasing Contract and complementary agreement with Shenzhen
Wanshang Friendship Department Store Co., Ltd. (hereinafter refer to as “Wanshang Friendship”) in
the year of 2001, and had agreement of step-up rent. The Company considered that from the view of
the actual aim of signing contract and transaction equality, Wanshang Friendship did not strictly
implement regulations of House Leasing Contract and did not pay enough rent. In order to protect the
interests of listed company and all shareholders, the Company files a suit to Shenzhen Futian District
People’s Court in 2009, which sued that Wanshang Friendship did not pay rent as agreement.
However, the Court rebuts the claim from the Company. Subsequently, the Company appealed to
Shenzhen Intermediate People's Court regarding this judgment. And Shenzhen Intermediate People's
Court made the second instance trial in 2010. In 2011, a judgment of “appeal rejection, sustain
original judgment; litigation fee of the case should be paid the Company” was rule by the Court. The
Company shows no commands concerning the above judgment, and sustains appeal rights to Higher
People’s Court. The amount arising from lawsuits is not keep for calculation for conservatism
principle concerns from financial department. Furthermore, the lawsuit fees were listed as expenses
in previously years, therefore, the results from the Court shows no influence on profit of this period
and profit in post-period.
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Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report for 2011(Full Text)
3.3 Implementations of commitments by the Company, shareholders and 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 □Inapplicable
Content of
Commitments Promiser Implementation
commitments
Promised that the The commitment has been
holding fulfilled on 18 May 2010. Till the
Zhongheng non-circulating end of this report period,
New shares of the 116,489,894 shares of the
Commitments for Share Technology Company won’t be Company held are in the condition
Merger Reform Industry traded on the of pledged, Wuhan Zhongheng
Group market within 36 Group apply no release procedure
Company months since they to Shenzhen Stock Exchange for
acquired listed the abovementioned restricted
trading right. shares yet.
1. On 5 June 2008, with
examination and approval from
the 3rd temporary meeting of the
Board for 2008, the Company took
cash RMB 27 million to buy
After equity
relevant assets concerning
ownership
production of injection products
transferring, plans
from Wuhan Zhongheng Group,
to followed the
and thus fulfilled the commitment;
items as bellowed
2. In the first 10 days of May
Wuhan within one year:
2008, the Company officially
Zhongheng 1. Transfer
started off the significant asset
Commitments made in New relevant assets of
restructure work of purchasing the
Acquisition Report or Reports Technology plastic injection
70% equities of Wuhan
on Change in Interests Industry into the Company;
Hengsheng Photoelectricity
Group 2. Transfer 70%
Industry Co., Ltd.; engaged
Company equity of Wuhan
financial consultant and law
Hengsheng
consultant to carry out earnest
Photoelectricity
investigation on the restructure
Industry Co., Ltd.
assets that may be involved, and
held into the
negotiated with relevant
Company.
departments which were in charge
of this. However, due to that
relevant condition was not mature,
there were obstacles in material
asset restructure.
Commitments made in Material
N/A N/A N/A
Assets Reorganization
Commitments made in issuing N/A N/A N/A
Other commitments (including
N/A N/A N/A
additional commitments)
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Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report for 2011(Full Text)
3.4 Estimation of accumulative net profit from the beginning of the year to the end of next
report period to be loss probably or the warning of its material change compared with the
corresponding period of the last year and explanation of reason
□Applicable √Inapplicable
3.5 Particulars about the other significant events which needed explanations
3.5.1 Particulars about securities investment
□Applicable √Inapplicable
3.5.2 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. Sept. 30, 2011 In RMB Yuan
Balance at period-end Balance at year-begin
Items
Consolidation Parent Company Consolidation Parent Company
Current assets:
Monetary funds 235,160,081.77 26,462,564.87 113,686,755.85 29,345,694.04
Settlement
provisions
Capital lent
Transaction finance
asset
Notes receivable 47,284,283.78 2,460,341.39 26,574,387.66 2,777,176.74
Accounts receivable 225,546,355.05 62,785,256.92 181,675,191.14 74,524,052.26
Accounts paid in
1,858,531.25 702,915.76 1,505,815.10
advance
Insurance receivable
Reinsurance
receivables
Contract reserve of
reinsurance receivable
Interest receivable
Dividend receivable
Other receivables 17,833,282.10 51,663,326.39 17,233,030.06 50,283,251.74
Purchase restituted
finance asset
Inventories 70,982,157.94 2,118,210.90 74,479,853.17 2,771,554.67
Non-current asset
due within one year
Other current assets -33,557.08
Total current assets 598,631,134.81 146,192,616.23 415,155,032.98 159,701,729.45
Non-current assets:
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Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report for 2011(Full Text)
Granted entrusted
loans and advances
Finance asset
available for sales
Held-to-maturity
investment
Long-term account
receivable
Long-term equity
184,708,900.00 184,708,900.00
investment
Investment property 36,350,483.60 36,350,483.60 37,979,444.15 37,979,444.15
Fixed assets 210,803,034.06 114,987,802.05 204,623,451.74 118,466,024.39
Construction in
8,346,976.14 1,623,356.00 5,641,008.31 1,273,356.00
progress
Engineering
material
Disposal of fixed
1,163.41
asset
Productive
biological asset
Oil and gas asset
Intangible assets 52,672,536.04 5,858,220.67 53,426,885.35 5,858,220.67
Expense on
Research and
Development
Goodwill
Long-term expenses
1,723,305.90 1,723,305.90 2,193,225.00 2,193,225.00
to be apportioned
Deferred income tax
6,875,278.89 7,431,752.66 6,875,278.89 7,431,752.66
asset
Other non-current
asset
Total non-current asset 316,772,778.04 352,683,820.88 310,739,293.44 357,910,922.87
Total assets 915,403,912.85 498,876,437.11 725,894,326.42 517,612,652.32
Current liabilities:
Short-term loans 231,338,635.28 66,073,930.00
Loan from central
bank
Absorbing deposit
and interbank deposit
Capital borrowed
Transaction
financial liabilities
Notes payable 32,226,247.66 31,992,283.10
Accounts payable 153,270,943.27 9,823,380.27 125,758,949.05 21,908,611.35
Accounts received
756,749.43 755,158.23 32,473.00 2,373.00
in advance
Selling financial
asset of repurchase
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Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report for 2011(Full Text)
Commission charge
and commission payable
Wage payable 4,151,403.14 554,617.39 3,265,665.51 565,169.69
Taxes payable -2,689,290.11 11,126,439.70 5,169,117.15 10,729,506.76
Interest payable
Dividend payable
Other accounts
23,745,364.57 14,240,010.85 17,667,880.97 14,027,951.25
payable
Reinsurance
payables
Insurance contract
reserve
Security trading of
agency
Security sales of
agency
Non-current
liabilities due within 1
year
Other current
4,886,450.62 3,330,445.17
liabilities
Total current liabilities 447,686,503.86 39,830,051.61 249,960,298.78 47,233,612.05
Non-current liabilities:
Long-term loans 190,699,400.00 190,699,400.00 204,374,000.00 204,374,000.00
Bonds payable
Long-term account
payable
Special accounts
payable
Projected liabilities 1,389,781.77 1,389,781.77 4,995,395.63 4,995,395.63
Deferred income tax
liabilities
Other non-current
liabilities
Total non-current
192,089,181.77 192,089,181.77 209,369,395.63 209,369,395.63
liabilities
Total liabilities 639,775,685.63 231,919,233.38 459,329,694.41 256,603,007.68
Owner’s equity (or
shareholders’ equity):
Paid-in capital (or
283,161,227.00 283,161,227.00 283,161,227.00 283,161,227.00
share capital)
Capital public
109,496,837.33 109,496,837.33 109,496,837.33 109,496,837.33
reserve
Less: Inventory
shares
Reasonable reserve
Surplus public
77,391,593.25 77,391,593.25 77,391,593.25 77,391,593.25
reserve
Provision of general
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Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report for 2011(Full Text)
risk
Retained profit -194,421,430.36 -203,092,453.85 -203,485,025.57 -209,040,012.94
Balance difference
of foreign currency
translation
Total owner’s equity
attributable to parent 275,628,227.22 266,957,203.73 266,564,632.01 261,009,644.64
company
Minority interests
Total owner’s equity 275,628,227.22 266,957,203.73 266,564,632.01 261,009,644.64
Total liabilities and
915,403,912.85 498,876,437.11 725,894,326.42 517,612,652.32
owner’s equity
4.2 Profit statement in the report period
Prepared by Shenzhen Zhongheng Huafa Co., Ltd. July-Sept. 2011 In RMB Yuan
Amount of this period Amount of last period
Items Parent Parent
Consolidation Consolidation
company company
I. Total operating income 224,433,933.93 12,113,738.79 158,747,714.69 21,687,861.70
Including: Operating income 224,433,933.93 12,113,738.79 158,747,714.69 21,687,861.70
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 223,964,363.63 9,372,336.00 158,537,189.00 21,467,979.74
Including: Operating cost 205,700,203.98 803,659.98 143,179,705.58 12,537,700.57
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 836,376.45 767,043.09 753,519.95 661,847.04
Sales expenses 1,680,283.12 54,060.00 2,916,820.24 420,177.68
Administration expenses 10,560,826.38 4,487,929.39 8,005,590.33 5,177,947.96
Financial expenses 5,186,673.70 3,259,643.54 3,681,552.90 2,670,306.49
Losses of devaluation of asset
Add: Changing income of fair
value(Loss is listed with “-”)
Investment income (Loss is listed
with “-”)
Including: Investment income on
affiliated company and joint venture
Exchange income (Loss is listed
with “-”)
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Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report for 2011(Full Text)
III. Operating profit (Loss is listed
469,570.30 2,741,402.79 210,525.69 219,881.96
with “-”)
Add: Non-operating income 2,550.00 1,190.00 15,959.60 15,016.00
Less: Non-operating expense 391,024.74 391,023.02 20,049.19 2,500.00
Including: Disposal loss of
non-current asset
IV. Total Profit (Loss is listed with “-”) 81,095.56 2,351,569.77 206,436.10 232,397.96
Less: Income tax expense 298,224.98 907,258.10 0.00
V. Net profit (Net loss is listed with “-”) -217,129.42 2,351,569.77 -700,822.00 232,397.96
Net profit attributable to owner’s of
-217,129.42 2,351,569.77 -700,822.00 232,397.96
parent company
Minority shareholders’ gains and
losses
VI. Earnings per share
i. Basic earnings per share -0.0008 0.0083 -0.0025 0.0008
ii. Diluted earnings per share -0.0008 0.0083 -0.0025 0.0008
VII. Other consolidated income
VIII. Total consolidated income -217,129.42 2,351,569.77 -700,822.00 232,397.96
Total consolidated income attributable to
-217,129.42 2,351,569.77 -700,822.00 232,397.96
owners of parent company
Total consolidated income
attributable to minority shareholders
The merging party realized net profit of RMB 00.00 before consolidation under same control in this
period.
4.3 Profit statement from year-begin to the end of report period
Prepared by Shenzhen Zhongheng Huafa Co., Ltd. Jan.-Sept. 2011 In RMB Yuan
Amount in this period Amount in last period
Items Parent Parent
Consolidation Consolidation
Company Company
I. Total operating income 685,932,871.16 33,159,698.12 525,153,122.53 46,576,413.27
Including: Operating income 685,932,871.16 33,159,698.12 525,153,122.53 46,576,413.27
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 674,351,677.65 26,778,271.61 514,940,965.17 46,799,063.35
Including: Operating cost 622,592,144.54 2,470,763.68 469,427,601.57 20,033,515.38
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 2,573,912.90 2,305,215.20 2,247,153.31 1,915,036.01
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Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report for 2011(Full Text)
Sales expenses 5,009,162.64 228,682.90 4,086,594.21 661,084.77
Administration expenses 30,187,870.36 13,986,094.11 24,036,348.73 14,974,146.45
Financial expenses 13,988,587.21 7,787,515.72 11,362,835.29 9,215,280.74
Losses of devaluation of asset 3,780,432.06
Add: Changing income of fair
value(Loss is listed with “-”)
Investment income (Loss is listed
with “-”)
Including: Investment income on
affiliated company and joint venture
Exchange income (Loss is listed
with “-”)
III. Operating profit (Loss is listed
11,581,193.51 6,381,426.51 10,212,157.36 -222,650.08
with “-”)
Add: Non-operating income 19,276.00 17,916.00 333,796.72 263,871.00
Less: Non-operating expense 452,685.14 451,783.42 47,093.91 491.28
Including: Disposal loss of
non-current asset
IV. Total Profit (Loss is listed with
11,147,784.37 5,947,559.09 10,498,860.17 40,729.64
“-”)
Less: Income tax expense 2,084,189.16 726,512.28
V. Net profit (Net loss is listed with “-”) 9,063,595.21 5,947,559.09 9,772,347.89 40,729.64
Net profit attributable to owner’s of
9,063,595.21 5,947,559.09 9,772,347.89 40,729.64
parent company
Minority shareholders’ gains and
losses
VI. Earnings per share
i. Basic earnings per share 0.0320 0.0210 0.0345 0.0001
ii. Diluted earnings per share 0.0320 0.0210 0.0345 0.0001
VII. Other consolidated income
VIII. Total consolidated income 9,063,595.21 5,947,559.09 9,772,347.89 40,729.64
Total consolidated income attributable
9,063,595.21 5,947,559.09 9,772,347.89 40,729.64
to owners of parent company
Total consolidated income attributable
to minority shareholders
The merging party realized net profit of RMB 00.00 before consolidation under same control that
occurred from year-begin to end of this period.
4.4 Cash flow statement from year-begin to the end of report period
Prepared by Shenzhen Zhongheng Huafa Co., Ltd. Jan.-Sept. 2011 In RMB Yuan
Amount in this period Amount in last period
Items Parent Parent
Consolidation Consolidation
Company Company
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 618,063,541.66 35,210,603.90 531,354,059.36 144,643,297.44
services
Net increase of customer deposit
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Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report for 2011(Full Text)
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
28,608,736.64 15,542,418.66 15,136,323.01 37,055,731.04
operating activities
Subtotal of cash inflow arising
646,672,278.30 50,753,022.56 546,490,382.37 181,699,028.48
from operating activities
Cash paid for purchasing
581,598,684.62 1,406,345.91 409,453,833.73 30,740,645.84
commodities and receiving labor service
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 28,261,058.71 3,579,985.84 23,574,554.27 4,380,469.92
Taxes paid 7,289,264.99 4,080,418.49 7,096,118.11 3,618,741.22
Other cash paid concerning
34,396,409.26 20,712,069.07 47,073,138.76 30,089,943.48
operating activities
Subtotal of cash outflow arising
651,545,417.58 29,778,819.31 487,197,644.87 68,829,800.46
from operating activities
Net cash flows arising from
-4,873,139.28 20,974,203.25 59,292,737.50 112,869,228.02
operating activities
II. Cash flows arising from investing
activities:
Cash received from recovering
investment
Cash received from investment
income
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Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report for 2011(Full Text)
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,
12,214,294.55 576,960.00 18,431,756.33 5,172,538.02
intangible and other long-term assets
Cash paid for investment 14,300,000.00 58,300,000.00
Net increase of mortgaged loans
Net cash received from subsidiaries
and other units
Other cash paid concerning
investing activities
Subtotal of cash outflow from
12,214,294.55 576,960.00 32,731,756.33 63,472,538.02
investing activities
Net cash flows arising from
-12,214,294.55 -576,960.00 -32,731,756.33 -63,472,538.02
investing 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 440,969,749.05 224,341,494.98
Cash received from issuing bonds
Other cash received concerning
financing activities
Subtotal of cash inflow from
440,969,749.05 224,341,494.98
financing activities
Cash paid for settling debts 285,741,581.46 13,674,600.00 154,119,677.94 22,087,325.95
Cash paid for dividend and profit
13,833,207.74 9,605,772.42 11,267,613.52 9,698,460.50
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
299,574,789.20 23,280,372.42 165,387,291.46 31,785,786.45
financing activities
Net cash flows arising from
141,394,959.85 -23,280,372.42 58,954,203.52 -31,785,786.45
financing activities
IV. Influence on cash and cash
equivalents due to fluctuation in -2,834,200.10
exchange rate
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Shenzhen Zhongheng Huafa Co., Ltd. The Third Quarterly Report for 2011(Full Text)
V. Net increase of cash and cash
121,473,325.92 -2,883,129.17 85,515,184.69 17,610,903.55
equivalents
Add: Balance of cash and cash
113,686,755.85 29,345,694.04 27,153,099.93 26,068,936.24
equivalents at the period -begin
VI. Balance of cash and cash
235,160,081.77 26,462,564.87 112,668,284.62 43,679,839.79
equivalents at the period -end
4.5 Auditor’s report
Auditor’s opinions: Un-audited
Board of Directors of
Shenzhen Zhongheng Huafa Co., Ltd.
October 29, 2011
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