深圳中恒华发股份有限公司 2017 年第三季度报告全文
Shenzhen Zhongheng Huafa Co., Ltd.
THE THIRD QUARTERLY REPORT FOR 2017
October 2017
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深圳中恒华发股份有限公司 2017 年第三季度报告全文
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 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.
All directors of the Company are attended the Meeting for quarterly report
deliberation.
Principal of the Company Li Zhongqiu, Person in Charge of Accounting Works
Yang Bin and Person in Charge of Accounting Organ (Accounting Officer) Wu
Aijie hereby confirm that the Financial Report of the Third Quarterly Report is
authentic, accurate and complete.
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深圳中恒华发股份有限公司 2017 年第三季度报告全文
Section II Basic information of Company
I. Main accounting data and index
Whether it has retroactive adjustment or re-statement on previous accounting data or not
□Yes √No
Current period-end Period-end of last year Increase/decrease
Total assets (RMB) 688,145,685.76 632,475,542.40 8.80%
Net assets attributable to
shareholders of listed company 320,046,958.08 319,698,568.63 0.11%
(RMB)
Increase/decrease in
Increase/decrease in
Year-begin to end of comparison with
Current period comparison with same
the Period year-begin to
period of last year
Period-end of last year
Operating revenue (RMB) 232,880,839.08 58.00% 672,360,983.25 47.15%
Net profit attributable to
shareholders of the listed company -1,798,082.55 34.94% 348,389.45 -92.27%
(RMB)
Net profit attributable to
shareholders of the listed company
-2,786,147.96 12.59% -1,308,946.67 -143.71%
after deducting non-recurring gains
and losses (RMB)
Net cash flow arising from
-- -- -15,859,781.91 77.68%
operating activities (RMB)
Basic earnings per share
-0.0064 34.69% 0.0012 -92.45%
(RMB/Share)
Diluted earnings per share
-0.0064 34.69% 0.0012 -92.45%
(RMB/Share)
Weighted average ROE 0.56% 0.31% 0.11% -1.33%
Items and amount of extraordinary profit (gains)/losses
√Applicable □Not applicable
In RMB
Amount from year-begin to
Item Note
end of the Period
Gains/losses from the disposal of non-current asset (including the
-31,321.94
write-off that accrued for impairment of assets)
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深圳中恒华发股份有限公司 2017 年第三季度报告全文
Governmental subsidy reckoned into current gains/losses (not
including the subsidy enjoyed in quota or ration according to
1,433,689.68
national standards, which are closely relevant to enterprise’s
business)
Other non-operating income and expenditure except for the
1,594,148.18
aforementioned items
Less: impact on income tax 1,339,179.80
Total 1,657,336.12 --
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
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. Statement of the total shareholders and shares-held of top ten shareholders at end of the
Period
1. Total number of common shareholders at the end of this report period and top ten common shareholders
In Share
Total preference shareholders
Total common stock shareholders in with voting rights recovered at
24,634 0
reporting period-end end of reporting period (if
applicable)
Top ten shareholders
Amount of Number of share pledged/frozen
Nature of Proportion of Amount of shares
Shareholders restricted shares
shareholder shares held held State of share Amount
held
Wuhan Pledged 116,489,894
Zhongheng New
Domestic
Science &
non-state-owned 41.14% 116,489,894 0
Technology Frozen 116,489,894
legal person
Industrial Group
Co., Ltd.
SEG (HONG Pledged 0
Overseas legal
KONG) CO., 5.85% 16,569,560 0
person Frozen 0
LTD.
GOOD HOPE Overseas legal 4.49% 12,700,000 0 Pledged 0
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深圳中恒华发股份有限公司 2017 年第三季度报告全文
CORNER person
INVESTMENTS Frozen 0
LTD
Changjiang Pledged 0
Securities
Overseas legal
Brokerage 1.89% 5,355,249 0
person Frozen 0
(Hongkong) Co.,
Ltd.
China Pledged 0
Construction
Bank – Rongtong
Internet Media Other 0.99% 2,794,139 0
Frozen 0
Flexible Hybrid
Securities
Investment Funds
Domestic nature Pledged 0
Xu Dongdong 0.60% 1,690,307 0
person Frozen 0
China Pledged 0
Construction
Bank – Rongtong
Leading Growth Other 0.54% 1,536,962 0
Frozen 0
Hybrid Securities
Investment Funds
(LOF)
Domestic nature Pledged 0
Zhou Hongbing 0.43% 1,221,800 0
person Frozen 0
Domestic nature Pledged 0
Zhong Jiachao 0.39% 1,096,300 0
person Frozen 0
LI SHERYN Overseas nature Pledged 0
0.38% 1,072,802 0
ZHAN MING person Frozen 0
Particular about top ten shareholders with un-restrict shares held
Type of shares
Shareholders Amount of un-restrict shares held
Type Amount
Wuhan Zhongheng New Science &
RMB ordinary
Technology Industrial Group Co., 116,489,894 116,489,894
shares
Ltd.
Domestically
SEG (HONG KONG) CO., LTD. 16,569,560 listed foreign 16,569,560
shares
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深圳中恒华发股份有限公司 2017 年第三季度报告全文
Domestically
GOOD HOPE CORNER
12,700,000 listed foreign 12,700,000
INVESTMENTS LTD
shares
Domestically
Changjiang Securities Brokerage
5,355,249 listed foreign 5,355,249
(Hongkong) Co., Ltd.
shares
China Construction Bank –
RMB ordinary
Rongtong Internet Media Flexible 2,794,139 2,794,139
shares
Hybrid Securities Investment Funds
RMB ordinary
Xu Dongdong 1,690,307 1,690,307
shares
China Construction Bank –
RMB ordinary
Rongtong Leading Growth Hybrid 1,536,962 1,536,962
shares
Securities Investment Funds (LOF)
RMB ordinary
Zhou Hongbing 1,221,800 1,221,800
shares
RMB ordinary
Zhong Jiachao 1,096,300 1,096,300
shares
Domestically
LI SHERYN ZHAN MING 1,072,802 listed foreign 1,072,802
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
Explanation on associated the consistent actor that are prescribed in Measures for the Administration of Disclosure of
relationship among the top ten Shareholder Equity Changes of Listed Companies. The Company neither knew whether there
shareholders or consistent action 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.
Explanation on shareholders
Among top ten shareholders, Zhou Hongbin has 407,300 shares of the Company through
involving margin business about top
credit account, takes 50.01% of the Company’s shares; Zhong Jiachao has 201,500 shares of
ten common shareholders (if
the Company through credit account, takes 22.52% of the Company’s shares.
applicable)
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
Top ten common shareholders or top ten common shareholders with un-restrict shares not held have a buy-back agreement dealing in
reporting period
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深圳中恒华发股份有限公司 2017 年第三季度报告全文
2. Total of shareholders with preferred stock held and the top ten shareholdings
□Applicable √Not applicable
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深圳中恒华发股份有限公司 2017 年第三季度报告全文
Section III. Important events
I. Particular about major changes from items of main accounting statements and financial
indexes as well as reasons
√ Applicable □Not applicable
Item 2017-9-30 2017-1-1 Y-o-y changes Reasons
Monetary Fund 59,390,689.52 93,332,709.81 -36.37% Some of the revene from property rental are not collected
in the period
Account receivable 219,580,759.30 139,808,058.20 57.06% Account receivable increased for the selling seasons
Advance payment 6,685,124.13 13,075,721.93 -48.87% Account paid in advance for material declined in the
period
Other receivable 21,689,507.31 3,934,376.89 451.28% Some of the revene from property rental are not collected
in the period
Notes payable 8,599,035.50 16,714,584.01 -48.55% Endorsement transfer of bill increased in the period
Accounts payable 140,358,768.62 73,714,424.77 90.41% Account payable increased for the selling seasons
Account received in 761,213.86 48,846.60 1458.38% Utilities received in advance increased in the period
advance
Projected liabilities 244,208.55 2,604,411.81 -90.62% Accrual liability from Shaanxi Linghua written back
Item Jan. to Sept. 2017 Jan. to Sept. 2016 Y-o-y changes Reasons
Business income 672,360,983.25 456,933,423.45 47.15% Production order increased in the period
Business cost 611,011,951.57 397,033,133.61 53.89% Production order increased in the period
Taxes and additional 3,327,635.76 2,543,023.16 30.85% Production order increased in the period
Sales expenses 11,762,865.09 7,889,841.76 49.09% Production order increased in the period
Financial expenses 9,191,587.68 4,602,555.08 99.71% Change of exchange rate
Non operating 3,056,162.72 2,088,618.21 46.32% Accrual liability from Shaanxi Linghua written back
income
Operating profit -1,512,995.78 4,021,429.91 -137.62% Cost of H&R goes up, and equitpment renewing, the
export sales impact by exchange rate
Item Jan. to Sept. 2017 Jan. to Sept. 2016 Y-o-y changes Reasons
Cash received from 411,585,436.90 256,769,466.47 60.29% Sales increased and collection increased
selling goods or
providing services
Cash received 12,669,697.70 7,503,048.25 68.86% Intercourse funds between the companies
relating to other
operating activities
Cash paid for 330,088,093.97 230,473,778.87 43.22% sales increased and purchasing of material increased
purchasing goods
and labor service
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深圳中恒华发股份有限公司 2017 年第三季度报告全文
received
Net cash received 75,901.58 202,772.00 -62.57% There was a collection from fixed assets disposal last
from disposal of period
fixed assets,
intangible assets and
other long-term assts
Cash paid for debt 237,673,502.22 696,946,397.73 -65.90% Long-term loans are paid in advance last period
payment
Impact on cash or -858,969.48 -384,943.38 -123.14% Exchange rate fluctuation
cash equivalent from
change of foreign
exchange
II. Progress of significant events, their influences, and analysis and explanation of their
solutions
√ Applicable □Not applicable
(I) The Company signed Asset Exchange Contract with Wuhan Zhongheng Group on 29 April 2009 (details were referred to in the
announcement dated 30 April 2009), and pursuant to the contract, since part of the assets of the Company (namely two parcel of
industrial lands located at Huafa road, Gongming town, Guangming new district, Shenzhen (the property certificate No. were SFDZ
No.7226760 and SFDZ No.7226763, No. of parcels were A627-005 andA627-007, and the aggregate area was 48,200 sq.m) were the
lands listed in the first batch of plan for 2010 Shenzhen urbanization unit planning preparation plan. For promotion of such
urbanization project and joint cooperation, the Company has not completed the transfer procedures in respect of the aforesaid land.
The Company convoked the first extraordinary meeting of the Board in 2015 on February 16, 2015 and the first extraordinary general
meeting of the Board in 2015 on March 4, 2015, which considered and approved the “Motion on promoting and implementing the
urban renewal project for the renewal units of Huafa area at Gongming street, Guangming new district, Shenzhen”, specified that the
Company and Wuhan Zhongheng Group shall obtain the corresponding compensatory consideration for removal from the
respectively owned project plots and the respectively contributed and constructed above-ground buildings before the land
development, it is estimated that the compensatory consideration obtained by the Company accounts for 50.5% of the total
consideration and Wuhan Zhongheng Group accounts for 49.5% by calculation.
The sixth extraordinary meeting of the board of directors in 2015 and the third extraordinary general meeting held on September 11,
2015 have considered and adopted the “Proposal on the project promotion and implementation of urban renewal and the progress of
related transactions of ‘the updated units at Huafa Area, Gong Ming Street, Guangming New District, Shenzhen’”, the company has
signed the “Agreement on the cooperation of urban renewal project of the updated units at Huafa Area, Gong Ming Street,
Guangming New District, Shenzhen”, “Contract for the cooperative venture of reconstruction project for Huafa Industrial Park, Gong
Ming Street, Guangming New District” and “Agreement on housing acquisition and removal compensation and resettlement” with
Wuhan Zhongheng New Technology Industry Group Co., Ltd. (hereinafter referred to as “Wuhan Zhongheng Group”), Shenzhen
Vanke Real Estate Co., Ltd. (hereinafter referred to as “Shenzhen Vanke”), and Shenzhen Vanke Guangming Real Estate
Development Co., Ltd. (hereinafter referred to as “Vanke Guangming”).
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深圳中恒华发股份有限公司 2017 年第三季度报告全文
On 12 September 2016, the Company received a “Notice of Arbitration No.: SHEN DP20160334” from SCIA, Shenzhen Vanke
applied for arbitration in respect of “Agreement on the cooperation of urban renewal project of the updated units at Huafa Area,
Gong Ming Street, Guangming New District, Shenzhen” against the Company and Wuhan Zhongheng Group. The arbitral court
holds hearings on 12 November 2016 and 13 May 2017. Shenzhen International Court of Arbitration (South China International
Economic and Trade Arbitration Commission) has made a rule in August 2017, progress of the case found more in the Notices
released on Juchao website (www.cninfo.com.cn) dated 14 Sept. 2016, 1 Nov. 2016, 16 Nov. 2016, on 18 Feb. 2017, 24 March 2017,
25 April 2017, 1 July 2017 and on 18 August 2017 respectively.
(II) On 31 December 2015, the 88,750,047 shares held by Wuhan Zhongheng Group, are pledge to China Merchants Securities
Assets Co., Ltd. with due date of 31 December 2016. Wuhan Zhongheng Group deferred the repurchase business day to 31
December 2017. And on 1 Feb. 2016, Wuhan Zhongheng Group pledge the 27,349,953 shares held to China Merchants Securities
Assets Co., Ltd. with due date of 31 December 2016. and also deferring the repurchase business, same as the pledge release. Ended
as the period-end, the pledge did not remove. Found more in notice released on Juchao website (www.cninfo.com.cn) dated 5 July
2017
(III) Our controlling shareholder Wuhan Zhongheng Group holds 116,489,894 shares of the Company, accounting for 41.14% of total
share capital. As for involving the arbitration case of “Agreement on the cooperation of urban renewal project of the updated units at
Huafa Area, Gong Ming Street, Guangming New District, Shenzhen”, the above shares were judicially sealed on 27 September 2016
for creditor’s application for property preservation. Assets frozen from 27 September 2016 to 26 September 2018. Details are set out
in the announcement published at Juchao information website (www.cninfo.com.cn) on 27 October 2017.
(IV) The Company received the notice about registering and investigating from China Securities Regulatory Commission on January
18, 2016, who decided to register and investigate the company on suspicion of illegal information disclosure. On September 18, 2016,
the Company received the “Prior Notice of Administrative Penalty” ( [2016] No.6) from Shenzhen Regulatory Bureau of China
Securities Regulatory Commission. On December 22, 2016, the Company received the “Written Decision of Administrative Penalty”
([2016] No. 7) from Shenzhen Regulatory Bureau of China Securities Regulatory Commission. See details on the “Notice on
Receiving Written Decision of Administrative Penalty from CSRC” the company published at www.cninfo.com.cn on December 23,
2016. On January 5, 2017, the Company received the “Notice on Giving Public Censure and Punishment to Shenzhen Zhongheng
Huafa Co., Ltd. and the Relevant Parties” from the Shenzhen Stock Exchange, see details on the notice published at
www.cninfo.com.cn on January 6, 2017.
(V) On March 21, 2014, Huafa Property and Shenzhen Jifang Investment Co., Ltd. (hereinafter referred to as "Jifang Investment")
signed the "Shenzhen Housing Leasing Contract" and the "Supplemental Agreement on Leasing Contract", which were canceled on
February 5, 2016. As Jifang Investment occupied the site, and defaulted rent, management fee and water and electricity bills in the
long term, in order to safeguard the legitimate rights and interests, Huafa Property submitted a request for arbitration to Shenzhen
Arbitration Commission on March 8, 2016, and received the (2016) SZCZ No. 346 ruling paper from Shenzhen Arbitration
Commission in November 2016 which ruled Huafa Property won the lawsuit. See details on the notice published at
www.cninfo.com.cn by the Company on November 8, 2016.
(VI) Mr. Li Yongping, the director and vice-president of the company, has applied for resigning the director, vice-president and the
committee member of the special committee under the board of directors of the company due to the mandatory retirement age (60
years old), recommended by the company’s second largest shareholder, SEG (Hong Kong) Co., Ltd., the company’s first
extraordinary general meeting of shareholders in 2017 considered and approved Mr. Zhang Guangliu to be the director of the
company, and elected Mr. Zhang Guangliu as the vice-president of the company’s 9th Board of Directors by the 3rd extraordinary
meeting of the board of directors of the company in 2017, see details on the relevant announcement the company issued at
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深圳中恒华发股份有限公司 2017 年第三季度报告全文
www.cninfo.com.cn on July 19, 2017.
(VII) The company’s planning for major assets restructuring
The company was planning for major asset reorganization which involved the sale of the stock right of the wholly-owned subsidiary -
Wuhan Hengfa Technology Co., Ltd. and the small land and plant located at Wuhan plant under the name of the Company, due to the
uncertainties in relevant matters, the company's stock was suspended since the opening on May 31, 2017 in order to maintain the
investor interests and avoid significant impact on the company’s share price. On June 22, 2017, the 4th meeting of the 9th session of the
Board of Directors of the Company considered and approved the Proposal on the Consideration of Preplanning on Sale of Major Assets
and the Summary and other proposals related to this transaction. On July 3, 2017, the company received the “Reorganization Inquiry
Letter” (Non-permitted Reorganization Inquiry Letter No. [2017] 13, hereinafter referred to as “Inquiry Letter”) issued by the
Shenzhen Stock Exchange, requiring the company to submit the written document before July 6, 2017. The company immediately
organized relevant parties and intermediaries to implement and reply the questions involved in the Inquiry Letter term by term. In
view of the enviornment changes in current market, in the principle of prudence and after repeated demonstration, the Company, in
face of the many un-defined issues, will further advance the major assets restructuring. After listen to all sides, and communicate with
relevant parties carefully, after survey argument, the Company, decided to terminate this major assets restructuring works by
guarantee interest of the whole shareholders of listed company. Stock of the Company resumed since 25 August 2017. Found more in
relevant announcement released on Juchao Website (www.cninfo.com.cn) dated 25 August 2017.
(VIII) Changes in the ownership structure of controlling shareholders
Li Zhongqiu, the original shareholder of the controlling shareholder - Wuhan Zhongheng Group, transferred part of shares he held in
Wuhan Zhongheng Group to Li Li, and Wuhan Henghui Investment and Consulting Co., Ltd. transferred all shares it held in Wuhan
Zhongheng Group to Li Li, after the transfer, Li Zhongqiu held 51% equity stake of Wuhan Zhongheng Group, and Li Li held 49%
equity stake of Wuhan Zhongheng Group, in the above natural person shareholders, Li Zhongqiu and Li Li have parent-child
relationship and belong to concerted action person. See details on the relevant announcement the company issued at
www.cninfo.com.cn on June 6, 2017.
III. Commitments that the company, shareholders, actual controller, offeror, directors,
supervisors, senior management or other related parties have fulfilled during the reporting
period and have not yet fulfilled by the end of reporting period
□ Applicable √ Not applicable
There are no commitments that the company, shareholders, actual controller, offeror, directors, supervisors, senior management or
other related parties have fulfilled during the reporting period and have not yet fulfilled by the end of reporting period.
IV. Estimation of operation performance for year of 2017
Estimation on 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 on reason
□ Applicable √ Not applicable
V. Particular about security investment
□ Applicable √ Not applicable
The Company had no security investment in Period.
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深圳中恒华发股份有限公司 2017 年第三季度报告全文
VI. Particulars about derivatives investment
□ Applicable √ Not applicable
The Company had no derivatives investment in Period.
VII. Registration form of receiving research, communication and interview in the report
period
√ Applicable □Not applicable
Date Method Type of investors Basic situation index of investigation
Knowing operation condition and assets
1 July to 30 September of
Telephone communication Individual status of the Company, as well as
2017
progress of urban renewal etc.
VII. Guarantee outside against the regulation
□Applicable √Not applicable
The Company has no external security against the rules in the Period.
IX. Non-operational fund occupation from controlling shareholders and its related party
□ Applicable √ Not applicable
There are no controlling shareholders' and its related party's non-business capital occupying of the listed company.
X. Fulfill the precise social responsibility for poverty alleviation
1. Summary of targeted poverty alleviation
2. Targeted poverty alleviation for 3Q
3. Follow-up targeted poverty alleviation scheme
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深圳中恒华发股份有限公司 2017 年第三季度报告全文
Section IV. Financial Statement
I. Financial statement
1. Consolidate balance sheet
Prepared by SHENZHEN ZHONGHENG HUAFA CO., LTD
2017-09-30
In RMB
Item Balance at period-end Balance at period-begin
Current assets:
Monetary funds 59,390,689.52 93,332,709.81
Settlement provisions
Capital lent
Financial assets measured by fair
value and with variation reckoned into
current gains/losses
Derivative financial assets
Notes receivable 52,255,339.52 52,663,100.89
Accounts receivable 219,580,759.30 139,808,058.20
Accounts paid in advance 6,685,124.13 13,075,721.93
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Interest receivable
Dividend receivable
Other receivables 21,689,507.31 3,934,376.89
Purchase restituted finance asset
Inventories 54,065,927.05 46,902,384.80
Divided into assets held for sale
Non-current asset due within one year 12,191.49
Other current assets
Total current assets 413,667,346.83 349,728,544.01
Non-current assets:
Loans and payments on behalf
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深圳中恒华发股份有限公司 2017 年第三季度报告全文
Finance asset available for sales
Held-to-maturity investment
Long-term account receivable
Long-term equity investment
Investment property 52,843,534.89 54,145,225.02
Fixed assets 77,771,557.55 81,544,707.02
Construction in progress 654,356.00 654,356.00
Engineering material
Disposal of fixed asset 92,857,471.69 92,857,471.69
Productive biological asset
Oil and gas asset
Intangible assets 43,757,374.73 44,878,095.77
Expense on Research and
Development
Goodwill
Long-term expenses to be apportioned 154,166.56 191,666.59
Deferred income tax asset 6,439,877.51 8,475,476.30
Other non-current asset
Total non-current asset 274,478,338.93 282,746,998.39
Total assets 688,145,685.76 632,475,542.40
Current liabilities:
Short-term loans 178,828,825.20 181,210,467.81
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 8,599,035.50 16,714,584.01
Accounts payable 140,358,768.62 73,714,424.77
Accounts received in advance 761,213.86 48,846.60
Selling financial asset of repurchase
Commission charge and commission
payable
Wage payable 4,446,460.86 4,542,531.22
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深圳中恒华发股份有限公司 2017 年第三季度报告全文
Taxes payable 12,420,394.70 16,768,030.70
Interest payable 105,764.16 123,641.69
Dividend payable
Other accounts payable 22,334,056.23 17,050,035.16
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 367,854,519.13 310,172,561.96
Non-current liabilities:
Long-term loans
Bonds payable
Including: preferred stock
Perpetual capital securities
Long-term account payable
Long-term wages payable
Special accounts payable
Projected liabilities 244,208.55 2,604,411.81
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 244,208.55 2,604,411.81
Total liabilities 368,098,727.68 312,776,973.77
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 146,587,271.50 146,587,271.50
Less: Inventory shares
Other comprehensive income
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深圳中恒华发股份有限公司 2017 年第三季度报告全文
Reasonable reserve
Surplus public reserve 77,391,593.25 77,391,593.25
Provision of general risk
Retained profit -187,093,133.67 -187,441,523.12
Total owner’s equity attributable to parent
320,046,958.08 319,698,568.63
company
Minority interests
Total owner’s equity 320,046,958.08 319,698,568.63
Total liabilities and owner’s equity 688,145,685.76 632,475,542.40
Legal representative: Li Zhongqiu
Person in charge of accounting works: Yang Bin
Person in charge of accounting institution: Wu Aijie
2. Balance Sheet of Parent Company
In RMB
Item Balance at period-end Balance at period-begin
Current assets:
Monetary funds 5,233,554.06 10,375,152.87
Financial assets measured by fair value
and with variation reckoned into current
gains/losses
Derivative financial assets
Notes receivable
Accounts receivable
Account paid in advance 2,500,000.00
Interest receivable
Dividends receivable
Other receivables 119,362,455.59 114,067,051.57
Inventories 14,806.50 14,806.50
Divided into assets held for sale
Non-current assets maturing within one
year
Other current assets
Total current assets 124,610,816.15 126,957,010.94
Non-current assets:
Available-for-sale financial assets
Held-to-maturity investments
16
深圳中恒华发股份有限公司 2017 年第三季度报告全文
Long-term receivables
Long-term equity investments 186,608,900.00 186,608,900.00
Investment property 27,885,615.43 28,796,525.38
Fixed assets 4,407,355.52 6,491,983.71
Construction in progress 654,356.00 654,356.00
Project materials
Disposal of fixed assets 92,857,471.69 92,857,471.69
Productive biological assets
Oil and natural gas assets
Intangible assets 4,879,837.11 4,988,546.40
Research and development costs
Goodwill
Long-term deferred expenses 154,166.56 191,666.59
Deferred income tax assets 7,181,944.53 9,217,543.32
Other non-current assets
Total non-current assets 324,629,646.84 329,806,993.09
Total assets 449,240,462.99 456,764,004.03
Current liabilities:
Short-term borrowings 120,000,000.00 120,000,000.00
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 710,478.00 44,162.00
Wage payable 902,367.94 857,735.20
Taxes payable 7,672,058.34 10,094,737.11
Interest payable
Dividend payable
Other accounts payable 11,177,162.12 13,383,939.40
Divided into liability held for sale
Non-current liabilities due within 1
year
Other current liabilities
17
深圳中恒华发股份有限公司 2017 年第三季度报告全文
Total current liabilities 150,202,433.73 155,126,413.87
Non-current liabilities:
Long-term loans
Bonds payable
Including: preferred stock
Perpetual capital securities
Long-term account payable
Long-term wages payable
Special accounts payable
Projected liabilities 244,208.55 2,604,411.81
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 244,208.55 2,604,411.81
Total liabilities 150,446,642.28 157,730,825.68
Owners’ equity:
Share capita 283,161,227.00 283,161,227.00
Other equity instrument
Including: preferred stock
Perpetual capital securities
Capital public reserve 146,587,271.50 146,587,271.50
Less: Inventory shares
Other comprehensive income
Reasonable reserve
Surplus reserve 77,391,593.25 77,391,593.25
Retained profit -208,346,271.04 -208,106,913.40
Total owner’s equity 298,793,820.71 299,033,178.35
Total liabilities and owner’s equity 449,240,462.99 456,764,004.03
3. Consolidated Profit Statement (the period)
In RMB
Item Current Period Last Period
I. Total operating income 232,880,839.08 147,394,897.89
Including: Operating income 232,880,839.08 147,394,897.89
18
深圳中恒华发股份有限公司 2017 年第三季度报告全文
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 236,371,692.83 151,575,227.83
Including: Operating cost 212,098,026.49 132,744,735.37
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 1,009,748.31 386,654.00
Sales expenses 4,399,813.23 2,606,106.05
Administration expenses 14,587,407.58 13,547,556.46
Financial expenses 4,276,697.22 2,290,175.95
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 “-”)
Other income
III. Operating profit (Loss is listed
-3,490,853.75 -4,180,329.94
with “-”)
Add: Non-operating income 2,128,879.23 569,981.70
Including: Disposal gains of
2,000.00 10.94
non-current asset
Less: Non-operating expense 24,724.25 4,645.46
19
深圳中恒华发股份有限公司 2017 年第三季度报告全文
Including: Disposal loss of
2,641.30
non-current asset
IV. Total Profit (Loss is listed with
-1,386,698.77 -3,614,993.70
“-”)
Less: Income tax expense 411,383.78 -851,406.04
V. Net profit (Net loss is listed with “-”) -1,798,082.55 -2,763,587.66
Net profit attributable to owner’s of
-1,798,082.55 -2,763,587.66
parent company
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 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
20
深圳中恒华发股份有限公司 2017 年第三季度报告全文
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 -1,798,082.55 -2,763,587.66
Total comprehensive income
attributable to owners of parent -1,798,082.55 -2,763,587.66
Company
Total comprehensive income
attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share -0.0064 -0.0098
(ii) Diluted earnings per share -0.0064 -0.0098
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 charge of accounting works: Yang Bin
Person in charge of accounting institution: Wu Aijie
4. Profit Statement of Parent Company (the period)
In RMB
Item Current Period Last Period
I. Operating income 9,405,098.50 4,129,711.91
Less: Operating cost 2,147,630.38 1,190,205.13
Operating tax and extras 706,427.28 280,928.53
Sales expenses
Administration expenses 6,986,976.11 7,102,730.11
Financial expenses -2,384,380.36 2,189,275.72
Losses of devaluation of asset
Add: Changing income of fair
value(Loss is listed with “-”)
Investment income (Loss is
listed with “-”)
21
深圳中恒华发股份有限公司 2017 年第三季度报告全文
Including: Investment income
on affiliated company and joint venture
Other income
II. Operating profit (Loss is listed
1,948,445.09 -6,633,427.58
with “-”)
Add: Non-operating income 1,358,376.15 315,130.00
Including: Disposal gains of
non-current asset
Less: Non-operating expense -18,873.12
Including: Disposal loss of
non-current asset
III. Total Profit (Loss is listed with
3,325,694.36 -6,318,297.58
“-”)
Less: Income tax expense 1,515,349.97 -1,579,574.39
IV. Net profit (Net loss is listed with
1,810,344.39 -4,738,723.19
“-”)
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
22
深圳中恒华发股份有限公司 2017 年第三季度报告全文
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 1,810,344.39 -4,738,723.19
VII. Earnings per share:
(i) Basic earnings per share 0.0064 -0.0167
(ii) Diluted earnings per share 0.0064 -0.0167
5. Consolidated Profit Statement (form the year-begin to the period-end)
In RMB
Item Current Period Last Period
I. Total operating income 672,360,983.25 456,933,423.45
Including: Operating income 672,360,983.25 456,933,423.45
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 673,873,979.03 452,911,993.54
Including: Operating cost 611,011,951.57 397,033,133.61
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
23
深圳中恒华发股份有限公司 2017 年第三季度报告全文
tax and extras 3,327,635.76 2,543,023.16
Sales expenses 11,762,865.09 7,889,841.76
Administration expenses 38,673,364.32 40,843,439.93
Financial expenses 9,191,587.68 4,602,555.08
Losses of devaluation of asset -93,425.39
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 “-”)
Other income
III. Operating profit (Loss is listed
-1,512,995.78 4,021,429.91
with “-”)
Add: Non-operating income 3,056,162.72 2,088,618.21
Including: Disposal gains of
3,549.73 116,007.01
non-current asset
Less: Non-operating expense 59,646.80 67,871.14
Including: Disposal loss of
34,871.67 18,924.00
non-current asset
IV. Total Profit (Loss is listed with
1,483,520.14 6,042,176.98
“-”)
Less: Income tax expense 1,135,130.69 1,532,808.42
V. Net profit (Net loss is listed with “-”) 348,389.45 4,509,368.56
Net profit attributable to owner’s of
348,389.45 4,509,368.56
parent company
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
24
深圳中恒华发股份有限公司 2017 年第三季度报告全文
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
Net after-tax of other comprehensive
income attributable to minority
shareholders
VII. Total comprehensive income 348,389.45 4,509,368.56
Total comprehensive income
attributable to owners of parent 348,389.45 4,509,368.56
Company
Total comprehensive income
attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share 0.0012 0.0159
25
深圳中恒华发股份有限公司 2017 年第三季度报告全文
(ii) Diluted earnings per share 0.0012 0.0159
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
6. Profit Statement of Parent Company (form the year-begin to the period-end)
In RMB
Item Current Period Last Period
I. Operating income 30,455,412.15 25,180,025.56
Less: Operating cost 4,325,514.67 3,368,089.42
Operating tax and extras 1,804,380.12 1,378,881.37
Sales expenses
Administration expenses 22,420,306.96 22,536,060.96
Financial expenses 2,836,883.54 7,410,539.62
Losses of devaluation of asset -93,425.39
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
Other income
II. Operating profit (Loss is listed
-838,247.75 -9,513,545.81
with “-”)
Add: Non-operating income 1,399,915.15 356,669.00
Including: Disposal gains of
3,278.00
non-current asset
Less: Non-operating expense 50.88 18,924.00
Including: Disposal loss of
18,924.00
non-current asset
III. Total Profit (Loss is listed with
561,616.52 -9,175,800.81
“-”)
Less: Income tax expense 800,974.16 -2,293,950.20
IV. Net profit (Net loss is listed with
-239,357.64 -6,881,850.61
“-”)
V. Net after-tax of other comprehensive
income
26
深圳中恒华发股份有限公司 2017 年第三季度报告全文
(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 -239,357.64 -6,881,850.61
VII. Earnings per share:
(i) Basic earnings per share -0.0008 -0.0243
(ii) Diluted earnings per share -0.0008 -0.0243
7. Consolidated Cash Flow Statement (form the year-begin to the period-end)
In RMB
27
深圳中恒华发股份有限公司 2017 年第三季度报告全文
Item Current Period Last Period
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 411,585,436.90 256,769,466.47
services
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
12,669,697.70 7,503,048.25
operating activities
Subtotal of cash inflow arising from
424,255,134.60 264,272,514.72
operating activities
Cash paid for purchasing
commodities and receiving labor 330,088,093.97 230,473,778.87
service
Net increase of customer loans and
advances
Net increase of deposits in central
bank and interbank
28
深圳中恒华发股份有限公司 2017 年第三季度报告全文
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 55,158,956.96 46,933,579.88
Taxes paid 13,659,531.39 18,097,957.58
Other cash paid concerning
41,208,334.19 39,836,581.63
operating activities
Subtotal of cash outflow arising from
440,114,916.51 335,341,897.96
operating activities
Net cash flows arising from operating
-15,859,781.91 -71,069,383.24
activities
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 75,901.58 202,772.00
assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
investing activities
Subtotal of cash inflow from investing
75,901.58 202,772.00
activities
Cash paid for purchasing fixed,
5,334,290.23 4,739,000.50
intangible and other long-term assets
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 5,334,290.23 4,739,000.50
29
深圳中恒华发股份有限公司 2017 年第三季度报告全文
activities
Net cash flows arising from investing
-5,258,388.65 -4,536,228.50
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 236,663,522.53 183,246,761.70
Cash received from issuing bonds
Other cash received concerning
financing activities
Subtotal of cash inflow from financing
236,663,522.53 183,246,761.70
activities
Cash paid for settling debts 237,673,502.22 696,946,397.73
Cash paid for dividend and profit
7,522,719.08 7,028,536.77
distributing or interest paying
Including: Dividend and profit of
minority shareholder paid by
subsidiaries
Other cash paid concerning
2,185,000.00
financing activities
Subtotal of cash outflow from financing
245,196,221.30 706,159,934.50
activities
Net cash flows arising from financing
-8,532,698.77 -522,913,172.80
activities
IV. Influence on cash and cash
equivalents due to fluctuation in -858,969.48 -384,943.38
exchange rate
V. Net increase of cash and cash
-30,509,838.81 -598,903,727.92
equivalents
Add: Balance of cash and cash
104,015,312.97 632,846,956.16
equivalents at the period -begin
VI. Balance of cash and cash
73,505,474.16 33,943,228.24
equivalents at the period -end
30
深圳中恒华发股份有限公司 2017 年第三季度报告全文
8. Cash Flow Statement of Parent Company (form the year-begin to the period-end)
In RMB
Item Current Period Last Period
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 15,918,953.06 17,894,121.27
services
Write-back of tax received
Other cash received concerning
42,613,349.94 54,707,013.66
operating activities
Subtotal of cash inflow arising from
58,532,303.00 72,601,134.93
operating activities
Cash paid for purchasing
commodities and receiving labor
service
Cash paid to/for staff and workers 3,604,869.82 3,852,201.06
Taxes paid 3,658,227.60 11,130,687.76
Other cash paid concerning
49,583,197.56 96,793,074.16
operating activities
Subtotal of cash outflow arising from
56,846,294.98 111,775,962.98
operating activities
Net cash flows arising from operating
1,686,008.02 -39,174,828.05
activities
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 576.00
assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
investing activities
Subtotal of cash inflow from investing 576.00
31
深圳中恒华发股份有限公司 2017 年第三季度报告全文
activities
Cash paid for purchasing fixed,
1,377,592.31 2,770,892.00
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
1,377,592.31 2,770,892.00
activities
Net cash flows arising from investing
-1,377,592.31 -2,770,316.00
activities
III. Cash flows arising from financing
activities
Cash received from absorbing
investment
Cash received from loans 115,000,000.00 115,000,000.00
Cash received from issuing bonds
Other cash received concerning
financing activities
Subtotal of cash inflow from financing
115,000,000.00 115,000,000.00
activities
Cash paid for settling debts 115,000,000.00 569,400,000.00
Cash paid for dividend and profit
5,450,633.34 5,492,585.19
distributing or interest paying
Other cash paid concerning
1,960,000.00
financing activities
Subtotal of cash outflow from financing
120,450,633.34 576,852,585.19
activities
Net cash flows arising from financing
-5,450,633.34 -461,852,585.19
activities
IV. Influence on cash and cash
equivalents due to fluctuation in 618.82 90.95
exchange rate
V. Net increase of cash and cash
-5,141,598.81 -503,797,638.29
equivalents
Add: Balance of cash and cash
10,375,152.87 524,937,734.32
equivalents at the period -begin
32
深圳中恒华发股份有限公司 2017 年第三季度报告全文
VI. Balance of cash and cash
5,233,554.06 21,140,096.03
equivalents at the period -end
II. Audit report
Whether the 3rd quarterly report has been audited or not
□Yes √ No
The 3rd quarterly report of the Company has not been audited.
33
