ShenZhen Tellus Holding Co., Ltd. The Third Quarterly Report For 2009 (Full Text)
1
ShenZhen Tellus Holding Co., Ltd.
The Third Quarterly Report For 2009
(Full Text)
§1. Important Notes
1.1 Board of Directors and the Supervisory Committee of ShenZhen Tellus Holding Co., Ltd.
(hereinafter referred to as the Company) and its directors, supervisors and senior executives hereby
confirm that there are no any fictitious statements, misleading statements, or important omissions
carried in this report, and shall take all responsibilities, individual and/or joint, for the reality,
accuracy and completion of the whole contents.
1.2 The Third Quarterly Financial Report of 2009 has not been audited by CPAs.
1.3 Zhang Ruili, Principal of the Company; Fu Bin, Person in Charge of Accounting Work; Ke
Wensheng, Person in Charge of Accounting Organization (Accounting Officer) hereby confirm that
the Financial Report of the Third Quarterly Report is true and complete.
§2. Company Profile
2.1 Main accounting highlights and financial indexes:
Unit: RMB
Sep. 30, 2009 Dec. 31, 2008 Increase/decrease scope
(%)
Total assets (RMB) 604,153,725.11 614,544,088.77 -1.69%
Owners’ equities attributable to the
shareholders of listed company
(RMB)
165,574,284.02 163,709,500.27 1.14%
Share capital (Share) 220,281,600.00 220,281,600.00 0.00%
Net assets per share attributable to
the shareholders of listed company
(RMB/Share)
0.752 0.743 1.21%
July-Sep. 2009
Increase/decrease
over the same
period of the last
year (%)
Jan.-Sep. 2009
Increase/decrease
over the same
period of the last
year (%)
Total operating income (RMB) 122,405,699.45 -6.81% 327,467,491.34 -35.92%
Net profit attributable to the
shareholders of listed company
(RMB)
-1,464,309.63 -186.82% 1,308,837.99 187.08%
Net cash flow arising from operating
activities (RMB) - - 10,675,795.19 -48.91%
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Net cash flow arising from operating
activities per share (RMB/Share) - - 0.048 -48.91%
Basic earnings per share
(RMB/Share) -0.007 -187.50% 0.006 185.71%
Diluted earnings per share
(RMB/Share) -0.007 -187.50% 0.006 185.71%
Return on equity (%) -0.88% -1.97% 0.79% 1.76%
Return on equity after deducting
non-recurring gains and losses (%) -1.40% -1.09% -5.62% -2.37%
Unit: RMB
Items of non-recurring gains and losses Amount from year begin to
the end of report period Remarks
Losses/gains from the disposal of non-current asset 710,083.54
Gains/losses from debts restructuring 9,665,421.74
Other non-operating income and expense except for the
aforementioned items 187,691.05
Funds occupied capital received from non-financial
enterprises reckoned into current gains/losses 56,874.98
Total 10,620,071.31 -
2.2 Total number of shareholders at the end of the report period and shares held by the top ten
shareholders with unrestricted conditions
Unit: Share
Total number of shareholders
at the end of report period 21,024
Particulars about the shares held by the top ten shareholders with unrestricted conditions
Full Name of shareholder Unrestricted shares held Type of shares
Shenzhen SDG Co., Ltd. 131,283,504 RMB common share
Zheng Weihua 639,800 Domestically listed foreign share
THE FISRT SHANGHAI SECURITIES
CO., LTD. 466,200 Domestically listed foreign share
ZHANG ZI BIN 444,839 RMB common share
YE YING 440,000 RMB common share
HE XIN 430,400 Domestically listed foreign share
Zhang Gong 328,260 RMB common share
BOCI SECURITIES LIMITED 325,357 Domestically listed foreign share
Gu Changhua 300,000 RMB common share
JIANG XIN YUAN 279,325 Domestically listed foreign share
§3. Significant events
3.1 Particulars about material changes in items of main accounting statement and financial index,
and explanations of reasons
√Applicable □Inapplicable
Items of balance
sheet Sep. 31, 2009 Dec. 31, 2008 Increase/decrease
amount
Alteration
% Explanation
Account paid in
advance
15,954,184.65 7,569,033.13 8,385,151.52 110.78% More accounts were paid in
advance for purchasing autos
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advance advance for purchasing autos
Other receivable 25,347,228.52 17,496,636.48 7,850,592.04 44.87% Current money was increased
Inventory 21,861,146.38 51,262,965.42 -29,401,819.04 -57.35% Autos purchased in last year were
sold out in this report period
Financial asset
available for sale 1,514,299.68 958,353.92 555,945.76 58.01% Market price of financial assets
available for sale had changed
Long-term expense
to be apportioned 2,047,475.57 1,214,041.15 833,434.42 68.65%
Commitment fee for long-term
loans and decoration fee had been
increased
Short-term loan 49,430,264.12 133,511,834.70 -84,081,570.58 -62.98% Repaid short-term loans
Account received
in advance 2,583,269.67 5,147,850.02 -2,564,580.35 -49.82% Account received in advance had
been transferred into income
Long-term loan 105,900,000.00 14,600,000.00 91,300,000.00 625.34% Newly increased long-term loans
Items of profit
statement
Jan. to Sep.,
2009
Jan. to Sep.,
2008
Increase/decrease
amount
Alteration
% Explanation
Operating income 327,467,491.34 511,033,107.00 -183,565,615.66 -35.92%
Shenzhen Biaoyuan Automobiles
Co., Ltd. was taken into
consolidation scope in last year,
while not for this report period.
Operating cost 276,940,421.99 448,853,577.87 -171,913,155.88 -38.30%
Operating cost decreased
correspondingly since operating
income fell down.
Sales expense 16,202,039.32 26,216,723.79 -10,014,684.47 -38.20%
Sales expense decreased
correspondingly since operating
income fell down.
Financial expense 6,984,027.35 10,426,844.68 -3,442,817.33 -33.02%
The amount for last year included
the amount of Biaoyuan Company;
interest expenditure was cut down
in this report period.
Investment income 3,598,196.41 9,866,133.83 -6,267,937.42 -63.53%
Income received from investing
joint-stock enterprise had been
decreased; income from equity
transfer took part in the amount
last year.
Non-operating
income 10,767,273.44 2,441,801.03 8,325,472.41 340.96%
Income received from debts
restructuring had been increased in
this report period
Non-operating
expenditure 203,593.05 686,754.21 -483,161.16 -70.35%
Donation and compensation
expenditures had occurred last
year.
3.2 Progress of significant events, their influences, and analysis and explanation of their solutions
□Applicable √Inapplicable
3.3 Implementations of commitments by the Company, shareholders and actual controller
√Applicable □Inapplicable
Commitments Content of commitments Implementation
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Commitments for Share
Merger Reform
To effectively boost the core management team and business backbones for long,
SDG would take out its shares, not exceeding 10% in total number after the Share
Merger Reform, and apply them to the boost of the management team. The shares
would be sold to the Company’s management team over 3 years, with the selling
price being the net asset value per share audited during the period nearest to the
implementation. Before the implementation of the promoting plan by share selling
each year, the management team must prepay the Company a risk responsibility
fund, i.e. 20% of the planned selling price; Should the work of the performance
examination set by the Board failed to be finished, the paid risk responsibility fund
would not be refunded and shall be owned by the Company. Detailed rules
concerning the limitations on the management team, such as the subscription
conditions and risk responsibility fund, and boost plans would be set by the Board
and submitted to relevant departments for approval. The implementation of the
shares for promoting would be conducted strictly according to relevant laws and
regulations, and the circulation conditions of these shares would be in conformity
with relevant regulations set by the Shenzhen Stock Exchange.
Under the
implementation
Commitments on share
restriction for trading
Within 36 months since the day the reform plan starts to take effect, SDG would
not list at Shenzhen Stock Exchange and sell the shares of Tellus it held (except
for the shares used to promote the management team of shares of Tellus).
Have been
accomplished
implementation
Commitments made in
Acquisition Report or
Reports on Change in
Interests
Naught Naught
Commitments made in
Material Assets
Reorganization
Naught Naught
Commitments made in
issuing Naught Naught
Other commitments
(including additional
commitments)
Naught Naught
3.4 Estimation of accumulative net profit from the beginning of the year to the end of next report
period to be loss probably or the warning of its material change compared with the corresponding
period of the last year and explanation of reason
□Applicable √Inapplicable
3.5 Particulars about the other significant events which needed explanations
3.5.1 Activities on receiving research, communication and interview in the report period
In the report period, there were no receiving spot research, communication and written inquiry from
the investors.
3.5.2 Equity of other listed companies held
√Applicable □Inapplicable
Stock code Short form of
the stock
Initial
investment
amount
Proportion in
equity of the
Company
Book value at
period-end
Gains and
losses in report
period
Changes on
owners’ equity
in the report
period
600036
China
Merchants
Bank
60,581.05 0.00% 1,514,299.68 555,945.76
Total 1,514,299.68 555,945.76
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3.5.3 Other significant events which needed explanations: Naught
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 Tellus Holding Co., Ltd. Sep. 30, 2009 Unit: RMB
Balance at period-end Balance at year-begin
Items Consolidation Parent Company Consolidation Parent Company
Current assets:
Monetary funds 49,878,973.69 437,721.29 39,674,670.71 585,403.42
Settlement provisions
Capital lent
Transaction finance asset
Notes receivable
Accounts receivable 13,580,262.43 12,965,748.61
Accounts paid in advance 15,954,184.65 7,569,033.13
Insurance receivable
Reinsurance receivables
Contract reserve of
reinsurance receivable
Interest receivable
Dividend receivable
Other receivables 25,347,228.52 37,740,652.49 17,496,636.48 28,129,856.31
Purchase restituted
finance asset
Inventories 21,861,146.38 51,262,965.42
Non-current asset due
within one year
Other current assets
Total current assets 126,621,795.67 38,178,373.78 128,969,054.35 28,715,259.73
Non-current assets:
Granted loans and
advances
Finance asset available
for sales 1,514,299.68 1,514,299.68 958,353.92 958,353.92
Held-to-maturity
investment 121,300.00 1,051,300.00
Long-term account
receivable
Long-term equity
investment 142,621,696.51 362,253,268.06 139,218,587.26 356,957,694.13
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Investment property 120,191,353.09 68,521,268.28 124,071,906.35 70,745,180.16
Fixed assets 182,595,266.37 21,262,140.42 190,592,017.58 21,929,555.35
Construction in progress
Engineering material
Disposal of fixed asset
Productive biological
asset
Oil and gas asset
Intangible assets 215,733.40 215,733.40 244,023.34 244,023.34
Expense on Research and
Development
Goodwill
Long-term expenses to be
apportioned 2,047,475.57 168,535.62 1,214,041.15 18,037.72
Deferred income tax asset 28,224,804.82 12,076,726.82 28,224,804.82 12,076,726.82
Other non-current asset
Total non-current asset 477,531,929.44 466,011,972.28 485,575,034.42 462,929,571.44
Total assets 604,153,725.11 504,190,346.06 614,544,088.77 491,644,831.17
Current liabilities:
Short-term loans 49,430,264.12 22,911,598.12 133,511,834.70 79,711,329.70
Loan from central bank
Absorbing deposit and
interbank deposit
Capital borrowed
Transaction financial
liabilities
Notes payable 1,194,477.04
Accounts payable 34,530,049.56 1,554.00 31,910,199.64 1,554.00
Accounts received in
advance 2,583,269.67 5,147,850.02
Selling financial asset of
repurchase
Commission charge and
commission payable
Wage payable 4,810,732.58 4,787.67 9,576,937.52 1,381,270.28
Taxes payable 7,644,148.30 316,446.26 6,676,027.32 1,580,143.33
Interest payable
Dividend payable
Other accounts payable 115,569,348.02 219,400,677.62 130,578,197.83 203,603,126.36
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Non-current liabilities due
within 1 year
Other current liabilities
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Total current liabilities 214,567,812.25 242,635,063.67 318,595,524.07 286,277,423.67
Non-current liabilities:
Long-term loans 105,900,000.00 50,000,000.00 14,600,000.00
Bonds payable
Long-term account
payable 3,920,160.36 4,209,595.37
Special accounts payable
Projected liabilities 87,568,728.57 87,568,728.57 87,568,728.57 87,568,728.57
Deferred income tax
liabilities 2,583,414.85 179,554.57 2,583,414.85 179,554.57
Other non-current
liabilities
Total non-current liabilities 199,972,303.78 137,748,283.14 108,961,738.79 87,748,283.14
Total liabilities 414,540,116.03 380,383,346.81 427,557,262.86 374,025,706.81
Owner’s equity (or
shareholders’ equity):
Paid-in capital (or share
capital) 220,281,600.00 220,281,600.00 220,281,600.00 220,281,600.00
Capital public reserve 7,718,627.57 5,753,346.29 7,162,681.81 5,197,400.53
Less: Inventory shares
Reasonable reserve
Surplus public reserve 2,952,586.32 2,952,586.32 2,952,586.32 2,952,586.32
Provision of general risk
Retained profit -65,378,529.87 -105,180,533.36 -66,687,367.86 -110,812,462.49
Balance difference of
foreign currency translation
Total owner’s equity
attributable to parent company 165,574,284.02 123,806,999.25 163,709,500.27 117,619,124.36
Minority interests 24,039,325.06 23,277,325.64
Total owner’s equity 189,613,609.08 123,806,999.25 186,986,825.91 117,619,124.36
Total liabilities and owner’s
equity 604,153,725.11 504,190,346.06 614,544,088.77 491,644,831.17
4.2 Profit statement in the report period
Prepared by ShenZhen Tellus Holding Co., Ltd. July-Sep. 2009 Unit: RMB
This period The same period of last year
Items Consolidation Parent Company Consolidation Parent Company
I. Total operating income 122,405,699.45 3,121,023.02 131,346,742.79 3,052,621.63
Including: Operating income 122,405,699.45 3,121,023.02 131,346,742.79 3,052,621.63
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 124,460,950.31 6,740,127.68 135,797,550.72 4,535,613.32
Including: Operating cost 104,389,847.76 1,147,129.70 113,630,616.58 1,011,158.47
Interest expense
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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 962,274.40 162,293.21 920,481.30 158,736.34
Sales expenses 6,122,701.64 6,151,135.52
Administration expenses 10,495,000.83 4,075,885.37 12,181,279.34 2,430,892.05
Financial expenses 2,491,125.68 1,354,819.40 2,914,037.98 934,826.46
Losses of devaluation of
asset
Add: Changing income of
fair value(Loss is listed with
“-”)
Investment income (Loss
is listed with “-”) 378,196.41 1,540,871.41 5,886,429.23 3,105,184.35
Including: Investment
income on affiliated company
and joint venture
378,196.41 1,540,871.41 3,596,045.74 3,105,184.35
Exchange income (Loss is
listed with “-”)
III. Operating profit (Loss is
listed with “-”) -1,677,054.45 -2,078,233.25 1,435,621.30 1,622,192.66
Add: Non-operating
income 922,884.87 39,231.36 -16,020.98
Less: Non-operating
expense 89,585.94 56,879.55 152,058.59
Including: Disposal loss of
non-current asset 30,027.81 3,190.25 26,850.00
IV. Total Profit (Loss is listed
with “-”) -843,755.52 -2,135,112.80 1,322,794.07 1,606,171.68
Less: Income tax expense 253,269.24 559,980.09
V. Net profit (Net loss is listed
with “-”) -1,097,024.76 -2,135,112.80 762,813.98 1,606,171.68
Net profit attributable to
owner’s of parent company -1,464,309.63 -2,135,112.80 1,686,685.22 1,606,171.68
Minority shareholders’
gains and losses 367,284.87 -923,871.24
VI. Earnings per share
i. Basic earnings per share -0.007 0.008
ii. Diluted earnings per share -0.007 0.008
VII. Other consolidated income -251,877.24 -251,877.24 -457,109.60 -457,109.60
VIII. Total consolidated income -1,348,902.00 -2,386,990.04 305,704.38 1,149,062.08
Total consolidated income
attributable to owners of parent
company
-1,716,186.87 -2,386,990.04 1,229,575.62 1,149,062.08
Total consolidated income
attributable to minority
367,284.87 -923,871.24
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attributable to minority
shareholders
4.3 Profit statement from year-begin to the end of report period
Prepared by ShenZhen Tellus Holding Co., Ltd. Jan.-Sep. 2009 Unit: RMB
Amount in this period Amount in last period
Items Consolidation Parent Company Consolidation Parent Company
I. Total operating income 327,467,491.34 9,268,974.87 511,033,107.00 9,366,816.60
Including: Operating income 327,467,491.34 9,268,974.87 511,033,107.00 9,366,816.60
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 338,920,615.87 17,624,646.22 525,647,971.81 15,258,763.71
Including: Operating cost 276,940,421.99 3,078,522.10 448,853,577.87 2,165,330.69
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 2,751,232.90 481,986.71 2,813,028.33 487,074.49
Sales expenses 16,202,039.32 26,216,723.79
Administration expenses 36,056,953.91 10,445,203.16 37,337,797.14 8,903,319.18
Financial expenses 6,984,027.35 3,618,934.25 10,426,844.68 3,703,039.35
Losses of devaluation of
asset -14,059.60
Add: Changing income of
fair value(Loss is listed with “-”)
Investment income (Loss is
listed with “-”) 3,598,196.41 5,731,721.41 9,866,133.83 8,558,684.35
Including: Investment
income on affiliated company
and joint venture
3,598,196.41 5,731,721.41 8,048,545.74 8,558,684.35
Exchange income (Loss is
listed with “-”)
III. Operating profit (Loss is
listed with “-”) -7,854,928.12 -2,623,949.94 -4,748,730.98 2,666,737.24
Add: Non-operating income 10,767,273.44 8,422,279.79 2,441,801.03 2,225,214.63
Less: Non-operating
expense 203,593.05 166,400.72 686,754.21 256,628.26
Including: Disposal loss of
non-current asset 40,017.81 13,180.25 91,856.41
IV. Total Profit (Loss is listed
with “-”) 2,708,752.27 5,631,929.13 -2,993,684.16 4,635,323.61
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Less: Income tax expense 637,914.86 1,038,706.24
V. Net profit (Net loss is listed
with “-”) 2,070,837.41 5,631,929.13 -4,032,390.40 4,635,323.61
Net profit attributable to
owner’s of parent company 1,308,837.99 5,631,929.13 -1,503,068.44 4,635,323.61
Minority shareholders’ gains
and losses 761,999.42 -2,529,321.96
VI. Earnings per share
i. Basic earnings per share 0.006 -0.007
ii. Diluted earnings per share 0.006 -0.007
VII. Other consolidated income 555,945.76 555,945.76 -1,734,652.12 -1,734,652.12
VIII. Total consolidated income 2,626,783.17 6,187,874.89 -5,767,042.52 2,900,671.49
Total consolidated income
attributable to owners of parent
company
1,864,783.75 6,187,874.89 -3,237,720.56 2,900,671.49
Total consolidated income
attributable to minority
shareholders
761,999.42 -2,529,321.96
4.4 Cash flow statement from year-begin to the end of report period
Prepared by ShenZhen Tellus Holding Co., Ltd. Jan.-Sep. 2009 Unit: RMB
Amount in this period Amount in last period
Items Consolidation Parent Company Consolidation Parent Company
I. Cash flows arising from
operating activities:
Cash received from selling
commodities and providing labor
services
346,075,533.45 711,621.20 686,750,100.68 755,986.80
Net increase of customer
deposit and interbank deposit
Net increase of loan from
central bank
Net increase of capital
borrowed from other financial
institution
Cash received from original
insurance contract fee
Net cash received from
reinsurance business
Net increase of insured
savings and investment
Net increase of disposal of
transaction financial asset
Cash received from interest,
commission charge and
commission
Net increase of capital
borrowed
Net increase of returned
business capital
Write-back of tax received 63,319.04 80,730.28
Other cash received
concerning operating activities
112,954,280.92 83,619,950.67 260,344,648.36 31,400,418.87
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concerning operating activities
Subtotal of cash inflow
arising from operating activities 459,093,133.41 84,331,571.87 947,175,479.32 32,156,405.67
Cash paid for purchasing
commodities and receiving labor
service
274,070,332.49 550,308,185.33
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 41,780,059.93 5,856,323.39 50,186,006.76 5,592,355.44
Taxes paid 17,434,697.86 3,805,920.71 17,425,665.34 2,898,856.59
Other cash paid concerning
operating activities 115,132,247.94 63,994,747.72 308,358,475.71 3,394,290.21
Subtotal of cash outflow
arising from operating activities 448,417,338.22 73,656,991.82 926,278,333.14 11,885,502.24
Net cash flows arising from
operating activities 10,675,795.19 10,674,580.05 20,897,146.18 20,270,903.43
II. Cash flows arising from
investing activities:
Cash received from
recovering investment 14,320,000.00
Cash received from
investment income 437,747.48 437,747.48 884,435.81 547,184.35
Net cash received from
disposal of fixed, intangible and
other long-term assets
32,300.00 1,600.00 137,472.40
Net cash received from
disposal of subsidiaries and other
units
9,900,000.00
Other cash received
concerning investing activities 83,976.22
Subtotal of cash inflow from
investing activities 470,047.48 439,347.48 25,325,884.43 547,184.35
Cash paid for purchasing
fixed, intangible and other
long-term assets
590,657.80 70,955.00 738,635.89 50,670.00
Cash paid for investment 223,000.00 1,051,850.00
Net increase of mortgaged
loans
Net cash received from
subsidiaries and other units
Other cash paid concerning
investing activities 20,048,244.48
Subtotal of cash outflow
from investing activities 813,657.80 70,955.00 21,838,730.37 50,670.00
Net cash flows arising from
investing activities
-343,610.32 368,392.48 3,487,154.06 496,514.35
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12
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 124,200,000.00 50,000,000.00 95,999,990.00
Cash received from issuing
bonds
Other cash received
concerning financing activities 8,604,777.44 55,964,520.06
Subtotal of cash inflow from
financing activities 132,804,777.44 50,000,000.00 151,964,510.06
Cash paid for settling debts 125,572,206.30 56,800,000.00 124,043,941.75 19,680,000.00
Cash paid for dividend and
profit distributing or interest
paying
6,470,713.88 4,390,681.90 5,349,412.34 1,207,852.27
Including: Dividend and
profit of minority shareholder
paid by subsidiaries
Other cash paid concerning
financing activities 890,669.39 87,002,965.66
Subtotal of cash outflow
from financing activities 132,933,589.57 61,190,681.90 216,396,319.75 20,887,852.27
Net cash flows arising from
financing activities -128,812.13 -11,190,681.90 -64,431,809.69 -20,887,852.27
IV. Influence on cash and cash
equivalents due to fluctuation in
exchange rate
930.24 27.24 -25,425.84 -17,066.25
V. Net increase of cash and cash
equivalents 10,204,302.98 -147,682.13 -40,072,935.29 -137,500.74
Add: Balance of cash and
cash equivalents at the period
-begin
39,674,670.71 585,403.42 75,872,874.23 774,989.67
VI. Balance of cash and cash
equivalents at the period -end 49,878,973.69 437,721.29 35,799,938.94 637,488.93
4.5 Auditor’s report
Auditor’s opinions: Un-audited
Chairman of the Board: Zhang Ruili
Board of Directors of
ShenZhen Tellus Holding Co., Ltd.
October 29, 2009
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