Shenzhen Zhongheng Huafa Co., Ltd. First Quarterly Report 2015(Full-Text)
Shenzhen Zhongheng Huafa Co., Ltd.
First Quarterly Report 2015
(Full-Text)
April 2015
1
Shenzhen Zhongheng Huafa Co., Ltd. First Quarterly Report 2015(Full-Text)
Section I. Important Notes
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 should guarantee the
reality, accuracy and completion of the quarterly report, there are no any fictitious statements, misleading
statements or important omissions carried in this report, and shall take legal responsibilities, individual
and/or joint.
Other directors attended the board meeting on deliberating the quarterly report except for the following
directors:
Name of absent director Position of absent director Reason for absence Attorney
Li Xiaodong Independent Director On a business trip Zhang Zhaoguo
Li Zhongqiu, person in charge of the Company, Cao Li, person in charger of accounting works and Wu
Ai’jie, person in charger of accounting organ (accounting officer) hereby confirm that the Financial
Statement of this Quarterly Report is authentic, accurate and complete.
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Shenzhen Zhongheng Huafa Co., Ltd. First Quarterly Report 2015(Full-Text)
Section II. Main financial data and changes of shareholders
I. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accounting
error correction or not
□ Yes √No
At the same period Changes of this period over same
Current period
of last year period of last year (%)
Operating income (RMB) 117,513,081.51 162,659,610.67 -27.76%
Net profit attributable to shareholders of
511,851.85 694,997.40 -26.35%
the listed company(RMB)
Net profit attributable to shareholders of
the listed company after deducting 174,494.55 600,977.11 -70.96%
non-recurring gains and losses(RMB)
Net cash flow arising from operating
-2,165,279.32 -26,273,204.65 91.76%
activities(RMB)
Basic earnings per share (RMB/Share) 0.0018 0.0025 -28.00%
Diluted earnings per share (RMB/Share) 0.0018 0.0025 -28.00%
Weighted average ROE (%) 0.18% 0.25% 0.07 percentage points declined
At the end Changes of this period-end over
At the end of last year
of the reporting period same period-end of last year (%)
Total assets (RMB) 1,142,171,857.60 1,162,740,984.93 -1.77%
Net assets attributable to shareholder of
281,863,121.59 281,351,269.74 0.18%
listed company (RMB)
Items and amount of non-recurring gains and losses
√ Applicable □ Not applicable
In RMB
Amount from year-begin to
Item Note
period-end
Other non-operating income and expenditure except for the
449,809.74
aforementioned items
Less: impact on income tax 112,452.44
Total 337,357.30 --
Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
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Shenzhen Zhongheng Huafa Co., Ltd. First Quarterly Report 2015(Full-Text)
Securities to the Public --- Extraordinary Profit/loss, explain reasons
□ Applicable √ Not applicable
In reporting period, the Company has no particular about items defined as recurring profit (gain)/loss according to the lists of
extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to
the Public --- Extraordinary Profit/loss
II. Total number of shareholders at the end of this report period and top ten shareholders
1. Total number of common shareholders at the end of this report period and top ten common shareholders
In shares
Total common shareholders
26,260
at the end of report period
Top ten common shareholders
Amount of Number of share pledged/frozen
Proportion of Amount of shares
Shareholder’s name Nature of shareholder restricted shares
shares held held State of share Amount
held
Wuhan Zhongheng Pledged 116,489,894
Domestic
New Science &
non-state-owned 41.14% 116,489,894 116,489,894
Technology Industrial Frozen 116,489,894
legal person
Group Co., Ltd.
SEG (HONG KONG) Foreign legal Pledged 0
5.58% 16,569,560 0
CO., LTD. persons Frozen 0
GOOD HOPE Pledged 0
CORNER Foreign legal persons 4.91% 13,900,000 0
Frozen 0
INVESTMENTS LTD
Domestic nature Pledged 0
BINGHUA LIU 0.31% 876,213 0
person Frozen 0
Domestic nature Pledged 0
Jiang Jiayuan 0.27% 777,930 0
person Frozen 0
Shenzhen Jiamo Assets Pledged 0
Domestic
Management Co., Ltd.
non-state-owned legal 0.24% 691,723 0
– Jiamo Momentum Frozen 0
person
Stock Investment Fund
Domestic nature Pledged 0
Wang Jianguang 0.23% 651,849 0
person Frozen 0
Domestic nature Pledged 0
Li Jianfeng 0.23% 637,600 0
person Frozen 0
Domestic nature Pledged 0
Zhu Ming 0.22% 611,348 0
person Frozen 0
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Shenzhen Zhongheng Huafa Co., Ltd. First Quarterly Report 2015(Full-Text)
Domestic nature Pledged 0
Shi Feng 0.21% 600,000 0
person Frozen 0
Top ten common shareholders with unrestricted shares held
Type of shares
Shareholder’s name Amount of unrestricted shares held
Type Amount
Domestically
SEG (HONG KONG) CO., LTD. 16,569,560 listed foreign 16,569,560
shares
Domestically
GOOD HOPE CORNER INVESTMENTS LTD 13,900,000 listed foreign 13,900,000
shares
Domestically
BINGHUA LIU 876,213 listed foreign 876,213
shares
RMB common
Jiang Jiayuan 777,930 777,930
share
Shenzhen Jiamo Assets Management Co., Ltd. – RMB common
691,723 691,723
Jiamo Momentum Stock Investment Fund share
Domestically
Wang Jianguang 651,849 listed foreign 651,849
shares
Domestically
Li Jianfeng 637,600 listed foreign 637,600
shares
Domestically
Zhu Ming 611,348 listed foreign 611,348
shares
RMB common
Shi Feng 600,000 600,000
share
Domestically
Xie Deqing 541,100 listed foreign 541,100
shares
Among the top ten shareholders, Wuhan Zhongheng New Science & Technology Industrial
Group Co., Ltd. neither bears associated relationship with other shareholders, nor belongs
to the consistent actor that are prescribed in Measures for the Administration of Disclosure
Explanation on associated relationship among
of Shareholder Equity Changes of Listed Companies. The Company neither knew whether
the aforesaid shareholders
there exists associated relationship among the other tradable shareholders, nor they belong
to consistent actors that are prescribed in Measures for the Administration of Disclosure of
Shareholder Equity Changes of Listed Companies.
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Shenzhen Zhongheng Huafa Co., Ltd. First Quarterly Report 2015(Full-Text)
Among the top 10 shareholders, Jiang Jiayuan holds 428,381 shares of the Company via
guaranteed security account of the customer credit transactions under the name of GF
Explanation on top 10 common shareholders Securities Co., Ltd., representing 55.07% of the total shares possess; Shi Feng holds
involving margin business (if applicable) 600,000 shares of the Company via guaranteed security account of the customer credit
transactions under the name of China Merchants Securities Co., Ltd, representing 100% of
the total shares possess.
Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a buy-back agreement
dealing in reporting period
□ Yes √ No
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company have no buy-back
agreement dealing in reporting period.
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Shenzhen Zhongheng Huafa Co., Ltd. First Quarterly Report 2015(Full-Text)
Section III. Significant Events
I. Particulars about material changes in items of main accounting statement and financial
index and explanations of reasons
√Applicable □Not applicable
Item 2015-3-31 2015-1-1 Ratio Reasons of changes
Endorsement occurred in the
Notes receivable 67,025,422.10 100,821,063.85 -33.52%
Period
Account paid in advance for
Account paid in advance 8,973,252.38 5,669,119.87 58.28%
goods increased in the period
Utilities from lessee received
Account received in advance 2,348,311.66 727,331.06 222.87%
in advance in the Period
Wage payable 3,543,564.07 6,208 ,793.90 -42.93% Accrued annual compensation
Item Jan.-March of 2015 Jan.-March of 2014 Ratio Reasons of changes
Operation revenue in the
Business tax and surcharges 1,029,949.88 2,130,920.06 -51.67%
Period declined
Interest cost for long-term
Financial expenses 15,996,684.73 5,254,611.07 204.43%
loans increased in the Period
Obtained earnings from
Investment income 14,166,666.65 0 － financial products in the
Period
Part of the account payable
Non-operation income 449,809.74 222,711.90 101.97% switch-back in the Period for
unpaid necessary
There was a losses of assets
Non-operation expenditure － 97,351.51 -100.00% disposal occurred in last
period
Cash received with other operation activity Intercourse funds of the units
4,770,785.70 6,971,494.02 -31.57%
concerned received in the Period declined
Cash paid for purchasing goods and receiving Account paid for goods in the
50,131,294.35 97,272,596.71 -48.46%
labor service Period declined
A supplementary payment for
Taxes paid 6,143,111.85 2,840,807.00 116.25%
previous tax in the Period
Cash paid with other operation activity Intercourse funds of the units
8,724,980.79 16,953,622.01 -48.54%
concerned paid in the Period declined
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Shenzhen Zhongheng Huafa Co., Ltd. First Quarterly Report 2015(Full-Text)
Subtotal of cash out-flow from operation Account paid for goods in the
80,776,775.43 130,084,038.31 -37.90%
activity Period declined
Account paid for goods in the
Net cash flow from operation activity -2,165,279.32 -26,273,204.65 -91.76%
Period declined
Obtained earnings from
Cash received with other investment activity
14,166,666.65 － － financial products in the
concerned
Period
Obtained earnings from
Net cash flow from investment activities 13,737,159.54 -439,487.00 3225.73% financial products in the
Period
Cash paid for liquidating dividend, profit or Interest cost for long-term
12,980,056.04 4,142,595.68 213.33%
interest payment loans increased in the Period
Interest cost for long-term
Net cash flow from financing activities -16,978,699.15 -538,702.44 -3051.78%
loans increased in the Period
Influence on cash and cash equivalent due to
37,290.33 16,686.09 -123.48% Exchange rate fluctuation
fluctuation in exchange rate
II. Analysis and explanation of significant events and their influence and solutions
√Applicable □Not applicable
With purpose of further optimize the capital structure, improve financial status of the Company and providing necessary caital
condition and liquidity for the upgrade of industry business transformation, specialization of the property operation and development
of large-scale, the Company plans to private offering A-share. Controlling shareholder - Wuhan Zhongheng New Technology
Industry Group Co., Ltd. subscribe 87.6 million shares at most in cash, fund raised no more than 599.184 million Yuan (issuance cost
included) in total, the fund are raised for debt payment and supplement current capital in order to laying a solid foundation of the
sustainable development of the Company. Relevant private placment of A-share has been deliberated and approved by third
extraordinary meeting fo 2015 of the Board, and shall submite for approval by general meeting and implemente after verify by CSRC,
found more in notice released on 20 March 2015.
III. Commitments from the Company or shareholders (with over 5% shares held) in or
occurred in the previous period but continued to reporting period
√Applicable □Not applicable
Implementati
Item of Commitments Promisee Content of commitments Date Term
on
Commitments for Share Merger Reform
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Shenzhen Zhongheng Huafa Co., Ltd. First Quarterly Report 2015(Full-Text)
Within one year after
ownership transfer for equity
Wuhan purchased: From 12 April
Zhongheng 1. Related assets of injection 2007 to 11 April
New business in-put to the 2008;
2007-03-29 Implementing
Technology Company; from 13 May
Industry Group 2. 70 percent equity of Wuhan 2014 to 12 May
Co., Ltd. Hengsheng Photoelectricity 2015
Industry Co., Ltd. held in-put
to the Company.
The enterprise and its
subsidiaries will not
participate directly or
indirectly in operation of
Wuhan
the business with competitive
Zhongheng Implement since
of Shen Huafa and its
New 12 April 2007
controlling subsidiary 2007-03-29 Implementing
Technology throughout the
concerned, and not to damage
Industry Group year
the interest of the Shen Huafa
Co., Ltd.
and its controlling subsidiary
by making use of the
Commitments made in acquisition report or
potential controlling-ship of
equity change report
the Shen Huafa either
The enterprise and its
subordinate enterprise shall
avoid a related transaction as
far as possible with Shen
Huafa and its controlling
subsidiary, as for the related
dealings occurred inevitable
Wuhan or have reasonable cause, the
Zhongheng enterprise promise to follow Implement since
New the principle of fair-ness, 12 April 2007
2007-03-29 Implementing
Technology justice and open-ness, signed throughout the
Industry Group the agreement in line with the year
Co., Ltd. laws, perform legal program,
fulfill information disclosure
obligation and relevant
approval procedures
according to the relevant
laws, regulations and “Listing
Rules” of the Shenzhen Stock
Exchange, guarantee not to
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Shenzhen Zhongheng Huafa Co., Ltd. First Quarterly Report 2015(Full-Text)
damage the legal interest of
Shen Huafa and its
shareholders through related
transactions
After acquisition and assets
Wuhan restructuring, guarantee to
Zhongheng have an independent staff, Implement since
New owns independent and 12 April 2007
2007-03-29 Implementing
Technology completed assets, and throughout the
Industry Group independent in aspect of year
Co., Ltd. business, financial and
institution from Shen Huafa
Commitments in assets reorganization
Commitments in initial public offering or
refinancing
Other commitments to minority shareholders
of the Company
Completed on time or not N
1. On Jun. 5, 2008, with examination and approval from the 3rd temporary meeting of the Board
for 2008, the Company took cash RMB 27 million buying relevant assets concerning production
of injection products from Wuhan Zhongheng New Technology Industry Group Co., Ltd., and
thus the commitment had been finished.
2. In early of May, 2008, the Company officially started off the significant asset restructures 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 the large current payment between the Wuhan Zhongheng New Technology
Industry Group Co., Ltd. and Wuhan Hengsheng Photoelectricity Industry Co., Ltd. is hard to
clear off in a short period, the major assets restructuring suspend for significant barriers.
Detail reasons for un-complement and In April 2014, in light of the undesirability business condition of Wuhan Hengsheng
further plan (if applicable) Photoelectricity Industry Co., Ltd. in recent years, to avoid the losses of the listed company from
specific performance, putting long-term interest of the listed company earnestly protection first,
the controlling shareholder- Wuhan Zhongheng New Technology Industry Group Co., Ltd.
propose the solution as change the commitments, changed the capital investment commitment
from Wuhan Hengsheng Photoelectricity Industry Co., Ltd as: within one year since the date of
deliberation and approved by general meeting, the underlying shops along the street of the Phase
I “Yutian Xingfuhai” real estate project under the name of Wuhan Zhongheng New
Technology Industry Group Co., Ltd. sale to the Company in cash. The commitment changed has
been deliberated and approved by the Annual General Meeting 2013 dated 13 May 2014.
The 2nd extraordinary meeting of 2015 of the Board was held on 17 March 2015, agreed to
purchase the underlying shops along the street of the Phase I “Yutian Xingfuhai” real estate
project developed and constructed by Wuhan Xindongfang Real Estate Development Co., Ltd.
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Shenzhen Zhongheng Huafa Co., Ltd. First Quarterly Report 2015(Full-Text)
(the wholly-owned subsidiary of Wuhan Zhongheng New Technology Industry Group Co., Ltd.,
controlling shareholder of the Company) with 25 million Yuan in cash, found more in the notice
released on 19 March 2015 and 17 April 2015.
IV. Registration form for receiving research, communication and interview in the report
period
√Applicable □Not applicable
Contents discussed and materials
Date Place Method Type Reception object
supplied
Operation condition and assets
Headquarters of Telephone Individual status of the Company, progress of
Jan. –March of 2015 Individual
the Company communication investor urban renewal projects and private
placement etc.
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Shenzhen Zhongheng Huafa Co., Ltd. First Quarterly Report 2015(Full-Text)
Section IV. Financial Statement
I. Financial statement
1. Consolidate balance sheet
Prepared by Shenzhen Zhongheng Huafa Co., Ltd
2015-03-31
In RMB
Items Closing balance Opening balance
Current assets:
Monetary funds 22,471,898.10 28,819,357.68
Settlement provisions
Capital lent
Financial liability measured by fair value and with
variation reckoned into current gains/losses
Derivative financial liability
Notes receivable 67,025,422.10 100,821,063.85
Accounts receivable 136,923,064.04 112,425,468.57
Accounts paid in advance 8,973,252.38 5,669,119.87
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance receivable
Interest receivable
Dividend receivable
Other receivables 113,572,752.84 109,094,812.29
Purchase restituted finance asset
Inventories 22,120,084.49 30,880,050.55
Divided into assets held for sale
Non-current asset due within one year
Other current assets 500,000,000.00 500,000,000.00
Total current assets 871,086,473.95 887,709,872.81
Non-current assets:
Loans and payments on behalf
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Shenzhen Zhongheng Huafa Co., Ltd. First Quarterly Report 2015(Full-Text)
Finance asset available for sales
Held-to-maturity investment
Long-term account receivable
Long-term equity investment
Investment property 30,960,974.47 31,274,663.74
Fixed assets 183,234,337.27 186,438,814.34
Construction in progress 2,853,356.00 2,853,356.00
Engineering material
Disposal of fixed asset
Productive biological asset
Oil and gas asset
Intangible assets 47,456,848.10 47,866,685.21
Expense on Research and Development
Goodwill
Long-term expenses to be apportioned 327,933.22 345,658.24
Deferred income tax asset 6,251,934.59 6,251,934.59
Other non-current asset
Total non-current asset 271,085,383.65 275,031,112.12
Total assets 1,142,171,857.60 1,162,740,984.93
Current liabilities:
Short-term loans 142,241,585.81 138,114,376.32
Loan from central bank
Absorbing deposit and interbank deposit
Capital borrowed
Financial liability measured by fair value and with
variation reckoned into current gains/losses
Derivative financial liability
Notes payable 31,297,257.74 39,994,397.62
Accounts payable 53,022,389.32 65,547,836.32
Accounts received in advance 2,348,311.66 727,331.06
Selling financial asset of repurchase
Commission charge and commission payable
Wage payable 3,543,564.07 6,208,793.90
Taxes payable 18,036,985.68 18,552,046.85
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Shenzhen Zhongheng Huafa Co., Ltd. First Quarterly Report 2015(Full-Text)
Interest payable
Dividend payable
Other accounts payable 29,253,057.92 24,179,349.31
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Divided into liability held for sale
Non-current liabilities due within 1 year
Other current liabilities
Total current liabilities 279,743,152.20 293,324,131.38
Non-current liabilities:
Long-term loans 577,800,000.00 585,300,000.00
Bonds payable
Including: preferred stock
Perpetual capital securities
Long-term account payable
Long-term wages payable
Special accounts payable
Projected liabilities 2,765,583.81 2,765,583.81
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 580,565,583.81 588,065,583.81
Total liabilities 860,308,736.01 881,389,715.19
Owner’s equity:
Share capital 283,161,227.00 283,161,227.00
Other equity instrument
Including: preferred stock
Perpetual capital securities
Capital public reserve 109,496,837.33 109,496,837.33
Less: Inventory shares
Other comprehensive income
Reasonable reserve
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Shenzhen Zhongheng Huafa Co., Ltd. First Quarterly Report 2015(Full-Text)
Surplus public reserve 77,391,593.25 77,391,593.25
Provision of general risk
Retained profit -188,186,535.99 -188,698,387.84
Total owner’s equity attributable to parent company 281,863,121.59 281,351,269.74
Minority interests
Total owner’s equity 281,863,121.59 281,351,269.74
Total liabilities and owner’s equity 1,142,171,857.60 1,162,740,984.93
Legal representative: Li Zhongqiu
Person in charger of accounting works: Cao Li
Person in charge of accounting organ: Wu Ai’jie
2. Balance Sheet of Parent Company
In RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 14,319,790.01 14,802,258.59
Financial liability measured by fair value and with
variation reckoned into current gains/losses
Derivative financial liability
Notes receivable
Accounts receivable 1,857,222.07 1,857,222.07
Account paid in advance 1,005,472.83
Interest receivable
Dividends receivable
Other receivables 109,077,749.78 106,214,702.41
Inventories 14,806.50 14,806.50
Divided into assets held for sale
Non-current assets maturing within one year
Other current assets 500,000,000.00 500,000,000.00
Total current assets 625,269,568.36 623,894,462.40
Non-current assets:
Available-for-sale financial assets
Held-to-maturity investments
Long-term receivables
Long-term equity investments 187,608,900.00 187,608,900.00
Investment property 30,960,974.47 31,274,663.74
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Shenzhen Zhongheng Huafa Co., Ltd. First Quarterly Report 2015(Full-Text)
Fixed assets 98,962,103.77 100,029,320.14
Construction in progress 2,853,356.00 2,853,356.00
Project materials
Disposal of fixed assets
Productive biological assets
Oil and natural gas assets
Intangible assets 5,205,937.98 5,278,437.84
Research and development costs
Goodwill
Long-term deferred expenses 279,166.66 291,666.67
Deferred income tax assets 7,056,901.94 7,056,901.94
Other non-current assets
Total non-current assets 332,927,340.82 334,393,246.33
Total assets 958,196,909.18 958,287,708.73
Current liabilities:
Short-term borrowings 20,000,000.00 20,000,000.00
Financial liability measured by fair value and with
variation reckoned into current gains/losses
Derivative financial liability
Notes payable
Accounts payable 9,740,367.33 10,745,840.16
Accounts received in advance 853,921.84 420,611.24
Wage payable 741,708.34 724,418.36
Taxes payable 11,131,400.25 11,286,781.44
Interest payable
Dividend payable
Other accounts payable 62,181,808.64 56,873,489.93
Divided into liability held for sale
Non-current liabilities due within 1 year
Other current liabilities
Total current liabilities 104,649,206.40 100,051,141.13
Non-current liabilities:
Long-term loans 577,800,000.00 585,300,000.00
Bonds payable
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Shenzhen Zhongheng Huafa Co., Ltd. First Quarterly Report 2015(Full-Text)
Including: preferred stock
Perpetual capital securities
Long-term account payable
Long-term wages payable
Special accounts payable
Projected liabilities 2,765,583.81 2,765,583.81
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 580,565,583.81 588,065,583.81
Total liabilities 685,214,790.21 688,116,724.94
Owners’ equity:
Share capita 283,161,227.00 283,161,227.00
Other equity instrument
Including: preferred stock
Perpetual capital securities
Capital public reserve 109,496,837.33 109,496,837.33
Less: Inventory shares
Other comprehensive income
Reasonable reserve
Surplus reserve 77,391,593.25 77,391,593.25
Retained profit -197,067,538.61 -199,878,673.79
Total owner’s equity 272,982,118.97 270,170,983.79
Total liabilities and owner’s equity 958,196,909.18 958,287,708.73
3. Consolidated Profit Statement
In RMB
Item Current Period Last Period
I. Total operating income 117,513,081.51 162,659,610.67
Including: Operating income 117,513,081.51 162,659,610.67
Interest income
Insurance gained
Commission charge and commission income
II. Total operating cost 131,536,886.19 161,989,734.18
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Shenzhen Zhongheng Huafa Co., Ltd. First Quarterly Report 2015(Full-Text)
Including: Operating cost 100,468,187.06 141,788,368.98
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 1,029,949.88 2,130,920.06
Sales expenses 2,669,100.41 2,600,832.06
Administration expenses 11,372,964.11 10,215,002.01
Financial expenses 15,996,684.73 5,254,611.07
Losses of devaluation of asset
Add: Changing income of fair value(Loss is listed with “-”)
Investment income (Loss is listed with “-”) 14,166,666.65
Including: Investment income on affiliated company and joint venture
Exchange income (Loss is listed with “-”)
III. Operating profit (Loss is listed with “-”) 142,861.97 669,876.49
Add: Non-operating income 449,809.74 222,711.90
Including: Disposal gains of non-current asset 219,398.90
Less: Non-operating expense 97,351.51
Including: Disposal loss of non-current asset 97,351.51
IV. Total Profit (Loss is listed with “-”) 592,671.71 795,236.88
Less: Income tax expense 80,819.86 100,239.48
V. Net profit (Net loss is listed with “-”) 511,851.85 694,997.40
Net profit attributable to owner’s of parent company 511,851.85 694,997.40
Minority shareholders’ gains and losses
VI. Net after-tax of other comprehensive income
Net after-tax of other comprehensive income attributable to owners of parent
company
(I) Other comprehensive income items which will not be reclassified
subsequently to profit of loss
1. Changes as a result of re-measurement of net defined benefit plan
liability or asset
2. Share of the other comprehensive income of the investee accounted
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Shenzhen Zhongheng Huafa Co., Ltd. First Quarterly Report 2015(Full-Text)
for using equity method which will not be reclassified subsequently to profit and
loss
(II) Other comprehensive income items which will be reclassified subsequently
to profit or loss
1. Share of the other comprehensive income of the investee accounted
for using equity method which will be reclassified subsequently to profit or loss
2. Gains or losses arising from changes in fair value of
available-for-sale financial assets
3. Gains or losses arising from reclassification of held-to-maturity
investment as available-for-sale financial assets
4. The effect hedging portion of gains or losses arising from cash flow
hedging instruments
5. Translation differences arising on translation of foreign currency
financial statements
6. Other
Net after-tax of other comprehensive income attributable to minority shareholders
VII. Total comprehensive income 511,851.85 694,997.40
Total comprehensive income attributable to owners of parent Company 511,851.85 694,997.40
Total comprehensive income attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share 0.0018 0.0025
(ii) Diluted earnings per share 0.0018 0.0025
Enterprise combine under the same control in the Period, the combined party realized net profit of 0 Yuan before combination, and
realized 0 Yuan at last period for combined party
Legal representative: Li Zhongqiu
Person in charger of accounting works: Cao Li
Person in charge of accounting organ: Wu Ai’jie
4. Profit Statement of Parent Company
In RMB
Item Current Period Last Period
I. Operating income 10,749,061.73 9,041,086.23
Less: Operating cost 1,512,747.73 422,389.30
Operating tax and extras 709,522.10 635,526.16
Sales expenses
Administration expenses 6,635,968.21 5,111,382.37
Financial expenses 13,284,567.16 2,367,743.27
Losses of devaluation of asset
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Shenzhen Zhongheng Huafa Co., Ltd. First Quarterly Report 2015(Full-Text)
Add: Changing income of fair value(Loss is listed with “-”)
Investment income (Loss is listed with “-”) 14,166,666.65
Including: Investment income on affiliated company and joint venture
II. Operating profit (Loss is listed with “-”) 2,772,923.18 504,045.13
Add: Non-operating income 38,212.00 3,313.00
Including: Disposal gains of non-current asset
Less: Non-operating expense
Including: Disposal loss of non-current asset
III. Total Profit (Loss is listed with “-”) 2,811,135.18 507,358.13
Less: Income tax expense
IV. Net profit (Net loss is listed with “-”) 2,811,135.18 507,358.13
V. Net after-tax of other comprehensive income
(I) Other comprehensive income items which will not be reclassified
subsequently to profit of loss
1. Changes as a result of re-measurement of net defined benefit
plan liability or asset
2. Share of the other comprehensive income of the investee
accounted for using equity method which will not be reclassified subsequently
to profit and loss
(II) Other comprehensive income items which will be reclassified
subsequently to profit or loss
1. Share of the other comprehensive income of the investee
accounted for using equity method which will be reclassified subsequently to
profit or loss
2. Gains or losses arising from changes in fair value of
available-for-sale financial assets
3. Gains or losses arising from reclassification of held-to-maturity
investment as available-for-sale financial assets
4. The effect hedging portion of gains or losses arising from cash
flow hedging instruments
5. Translation differences arising on translation of foreign currency
financial statements
6. Other
VI. Total comprehensive income 2,811,135.18 507,358.13
VII. Earnings per share:
(i) Basic earnings per share
(ii) Diluted earnings per share
20
Shenzhen Zhongheng Huafa Co., Ltd. First Quarterly Report 2015(Full-Text)
5. Consolidated Cash Flow Statement
In RMB
Item Current Period Last Period
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing labor services 73,840,710.41 96,839,339.64
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 amount from disposal financial assets that measured by fair value and with
variation reckoned into current gains/losses
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 4,770,785.70 6,971,494.02
Subtotal of cash inflow arising from operating activities 78,611,496.11 103,810,833.66
Cash paid for purchasing commodities and receiving labor service 50,131,294.35 97,272,596.71
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 15,777,388.48 13,017,012.59
Taxes paid 6,143,111.81 2,840,807.00
Other cash paid concerning operating activities 8,724,980.79 16,953,622.01
Subtotal of cash outflow arising from operating activities 80,776,775.43 130,084,038.31
Net cash flows arising from operating activities -2,165,279.32 -26,273,204.65
II. Cash flows arising from investing activities:
Cash received from recovering investment
Cash received from investment income 14,166,666.65
Net cash received from disposal of fixed, intangible and other long-term assets
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Shenzhen Zhongheng Huafa Co., Ltd. First Quarterly Report 2015(Full-Text)
Net cash received from disposal of subsidiaries and other units
Other cash received concerning investing activities
Subtotal of cash inflow from investing activities 14,166,666.65
Cash paid for purchasing fixed, intangible and other long-term assets 429,507.11 439,487.00
Cash paid for investment
Net increase of mortgaged loans
Net cash received from subsidiaries and other units obtained
Other cash paid concerning investing activities
Subtotal of cash outflow from investing activities 429,507.11 439,487.00
Net cash flows arising from investing activities 13,737,159.54 -439,487.00
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 71,722,818.99 95,347,021.18
Cash received from issuing bonds
Other cash received concerning financing activities
Subtotal of cash inflow from financing activities 71,722,818.99 95,347,021.18
Cash paid for settling debts 75,721,462.10 91,743,127.94
Cash paid for dividend and profit distributing or interest paying 12,980,056.04 4,142,595.68
Including: Dividend and profit of minority shareholder paid by subsidiaries
Other cash paid concerning financing activities
Subtotal of cash outflow from financing activities 88,701,518.14 95,885,723.62
Net cash flows arising from financing activities -16,978,699.15 -538,702.44
IV. Influence on cash and cash equivalents due to fluctuation in exchange rate 37,290.33 16,686.09
V. Net increase of cash and cash equivalents -5,369,528.60 -27,234,708.00
Add: Balance of cash and cash equivalents at the period -begin 22,392,147.12 50,704,319.86
VI. Balance of cash and cash equivalents at the period -end 17,022,618.52 23,469,611.86
6. Cash Flow Statement of Parent Company
In RMB
Item Current Period Last Period
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing labor services 8,961,743.03 8,070,034.70
Write-back of tax received 0.00
22
Shenzhen Zhongheng Huafa Co., Ltd. First Quarterly Report 2015(Full-Text)
Other cash received concerning operating activities 5,671,807.46 10,070,502.54
Subtotal of cash inflow arising from operating activities 14,633,550.49 18,140,537.24
Cash paid for purchasing commodities and receiving labor service
Cash paid to/for staff and workers 1,645,849.64 1,512,825.33
Taxes paid 1,372,890.91 1,224,110.28
Other cash paid concerning operating activities 6,452,958.23 5,968,157.59
Subtotal of cash outflow arising from operating activities 9,471,698.78 8,705,093.20
Net cash flows arising from operating activities 5,161,851.71 9,435,444.04
II. Cash flows arising from investing activities:
Cash received from recovering investment
Cash received from investment income 14,166,666.65
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 14,166,666.65
Cash paid for purchasing fixed, intangible and other long-term assets
Cash paid for investment
Net cash received from subsidiaries and other units
Other cash paid concerning investing activities
Subtotal of cash outflow from investing activities
Net cash flows arising from investing activities 14,166,666.65
III. Cash flows arising from financing activities
Cash received from absorbing investment
Cash received from loans 4,400,000.00
Cash received from issuing bonds
Other cash received concerning financing activities
Subtotal of cash inflow from financing activities 4,400,000.00
Cash paid for settling debts 7,500,000.00 14,877,000.00
Cash paid for dividend and profit distributing or interest paying 12,315,530.37 3,280,090.98
Other cash paid concerning financing activities
Subtotal of cash outflow from financing activities 19,815,530.37 18,157,090.98
Net cash flows arising from financing activities -19,815,530.37 -13,757,090.98
IV. Influence on cash and cash equivalents due to fluctuation in exchange rate 4,543.43 -3,307.22
V. Net increase of cash and cash equivalents -482,468.58 -4,324,954.16
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Shenzhen Zhongheng Huafa Co., Ltd. First Quarterly Report 2015(Full-Text)
Add: Balance of cash and cash equivalents at the period -begin 14,802,258.59 18,575,925.94
VI. Balance of cash and cash equivalents at the period -end 14,319,790.01 14,250,971.78
II. Audit report
Whether the first quarterly report had been audited or not
□ Yes √ No
The first quarterly report of the Company had not been audited.
Board of Directors of
Shenzhen Zhongheng Huafa Co., Ltd.
28 April 2015
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