ShenZhen Tellus Holding Co., Ltd. The 1st Quarterly Report for 2010(Full Text)
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ShenZhen Tellus Holding Co., Ltd.
The First Quarterly Report 2010
(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 First Quarterly Financial Report of 2010 has not been audited by CPAs.
1.3 Chairman of the Board of the Company Zhang Ruili, General Manager Cheng Peng, Chief
Financial Officer Fu Bin, General Manager of Planning and Financing Department Ke Wensheng
hereby confirm that the Financial Report of the First Quarterly Report is true and complete.
§2. Company Profile
2.1 Main accounting highlights and financial indexes
Unit: RMB
At the end of the
report period
At the period-end of
the last year
Changes of
increase/decrease (%)
Total assets (RMB) 602,816,995.23 611,487,117.65 -1.42%
Owners’equity attributable to shareholders of
the listed company (RMB) 169,400,142.25 170,686,600.81 -0.75%
Share capital (Share) 220,281,600.00 220,281,600.00
Net asset per share attributable to shareholders
of listed company (RMB/Share) 0.769 0.775 -0.77%
In the report period The same period of
last year
Changes of
increase/decrease (%)
Total operating income (RMB) 109,939,790.76 94,679,334.58 16.12%
Net profit attributable to shareholders of the
listed company (RMB) -1,204,071.61 -7,799,504.02 84.56%
Net cash flow arising from operating activities
(RMB) -15,324,645.40 10,644,838.47 -243.96%
Net cash flow arising from operating activities
per share (RMB/Share) -0.070 0.048 -245.83%
Basic earnings per share (RMB/Share) -0.0055 -0.0354 84.46%
Diluted earnings per share (RMB/Share) -0.0055 -0.0354 84.46%
Weighted average return on equity (%) -0.71% -4.88% 4.17%
Weighted average return on equity after
deducting non-recurring gains and losses (%) -0.81% -5.57% 4.76%
Items of non-recurring gains and losses Amount from year-begin
to the end of report period
Gains and losses from the disposal of non-current asset 159,668.23ShenZhen Tellus Holding Co., Ltd. The 1st Quarterly Report for 2010(Full Text)
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Other non-operating income and expenditure except for the aforementioned items 8,729.59
Total 168,397.82
Explanations on items of significant non-recurring gains and losses
Naught
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
15,909
Particulars about the shares held by the top ten tradable shareholders with unrestricted conditions
Full name of shareholder
Amount of tradable shares with
unrestricted conditions held at the
end of report period
Type of shares
SHENZHEN SDG CO., LTD. 145,870,560 RMB ordinary shares
ZHOU XUE QING 1,285,357 RMB ordinary shares
WU CHU 767,472 RMB ordinary shares
ZHOU JIAN FENG 487,500 RMB ordinary shares
THE FISRT SHANGHAI SECURITIES
CO., LTD. 466,200 Domestically listed foreign shares
China Southern Fund Management Co.,
Ltd.-Everbright- Tactic Assets Allocation
No.1 Assets Management Plan
462,589 RMB ordinary shares
ZHANG ZI BIN 444,839 RMB ordinary shares
HE XING 442,300 Domestically listed foreign shares
YE YING 440,000 RMB ordinary shares
FAN XIAO HAN 412,490 RMB ordinary shares
§3. Significant Events
3.1 Particulars about material changes in items of main accounting statement and financial index,
and explanations of reasons
√Applicable □InapplicableShenZhen Tellus Holding Co., Ltd. The 1st Quarterly Report for 2010(Full Text)
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Items March 31, 2010 Dec. 31, 2009 Change
scope Explanation
Account paid in advance 12,327,189.33 17,878,392.46 -31.05%
Prepaid account for purchasing
automobiles dealt the settlement
procedure
Inventories 28,866,255.09 18,373,999.23 57.10% Increase in inventory commercial
automobiles
Tax payable 7,291,347.35 9,656,230.96 -24.49% Paid taxes
Items Jan. to Mar. 2010 Jan. to Mar. 2009 Change
scope Explanation
Operation income 109,939,790.76 94,679,334.58 16.12% Increase in automobiles sales
business
Administrative expense 10,243,858.74 14,781,345.70 -30.70%
Compensation expense for
rescinding employee contract
occurred in the same period of last
year
Investment income 1,861,000.00 -947,253.00 296.46% Increase in profits of shareholding
enterprise in the report period
Non-operating income 173,645.46 1,093,836.91 -84.13% Gains from debts restructurings in
the same period of last year
Income tax 278,199.73 80,902.56 243.87% Increase in profits of subsidiaries
Net profit -727,179.74 -7,742,228.50 90.61% Increase in income and decrease in
cost expense
Net value of cash flow
arising from operating
activities
-15,324,645.40 10,644,838.47 -243.96%
Cash received from other operating
activities received in the report
period decreased over the same
period of last year
Net value of cash flow
arising from investing
activities
-405,049.15 -254,638.00 -59.07%
Purchase and constructed fixed
assets and allotted shares of China
Merchants Bank in the report period
Net value of cash flow
arising from financing
activities
1,908,135.93 -9,775,704.91 119.52% Bank loan increased in the report
period
3.2 Analysis and explanation of significant events and their influence and solutions
□Applicable √Inapplicable
3.3 Implementations of commitments by the Company, shareholders and actual controller
√Applicable □Inapplicable
Item of Commitments Promisee Content of commitments Implementation
Commitments for Share Merger
Reform
Shenzhen
SDG Co.,
Ltd.
To effectively boost the core management level
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 administration
level. The shares would be sold to the
Company’s administrative level 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 administration level must prepay the
Company a risk responsibility fund, i.e. 20% of
Under the
implementationShenZhen Tellus Holding Co., Ltd. The 1st Quarterly Report for 2010(Full Text)
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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 administration level, 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.
Commitments for share restricted
trade N/A N/A N/A
Commitments made in Acquisition
Report or Reports on Change in
Interests
N/A N/A N/A
Commitments made in Material
Assets Reorganization N/A N/A N/A
Commitments made in issuing N/A N/A N/A
Other commitments (including
additional commitments) N/A N/A N/A
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 Other significant events which need explanations
3.5.1 Particulars about securities investment
√Applicable □Inapplicable
Unit: RMB
No. Securitie
s kinds Stock code Short form of
the stock
Initial
investment
amount
(RMB)
Amount
held
(Share)
Book value at
period-end
(RMB)
Total
investment
proportion
of securities
in
period-end
(%)
Gains and
losses in report
period
(RMB)
1 Stock 600036
China
Merchants
Bank
178,454.20 115,775.00 1,884,817.00 100.00% 0.00
Other stock investment held at the end of
report period 0.00 - 0.00 0.00% 0.00
Gain/loss of the sold securities investment
in the report period - - - - 0.00
Total 178,454.20 - 1,884,817.00 100% 0.00ShenZhen Tellus Holding Co., Ltd. The 1st Quarterly Report for 2010(Full Text)
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Explanations on securities investment
In March 2010, China Merchants Bank allotted to A-stock shareholders with the proportion of bonus
1.3 shares for each 10 shares. The Company holds its 102,456 shares and obtained allotted shares of
13,319, the amount of holding shares was 115,775 in the report period.
3.5.2 Registration form for receiving research, communication and interview in the report period
In the report period, there were no receptions from the investors such as spot research, telephone
communications and written enquiries.
3.5.3 Particulars about the explanations on other significant events
□Applicable √Inapplicable
3.6 Particulars about derivatives investment
□Applicable √Inapplicable
3.6.1 Particulars about derivatives investment held at the end of report period
□Applicable √Inapplicable
§4. Appendix
4.1 Balance sheet
Prepared by ShenZhen Tellus Holding Co., Ltd. March 31, 2010 Unit: RMB
Balance at period-end Balance at year-begin
Items Consolidation Parent Company Consolidation Parent Company
Current assets:
Monetary funds 63,554,619.33 333,564.11 77,376,177.95 401,503.65
Settlement provisions
Capital lent
Transaction finance asset
Notes receivable
Accounts receivable 10,878,297.60 8,813,731.55
Accounts paid in advance 12,327,189.33 17,878,392.46
Insurance receivable
Reinsurance receivables
Contract reserve of
reinsurance receivable
Interest receivable
Dividend receivable
Other receivables 21,703,973.66 26,672,786.78 22,274,103.75 31,532,451.36
Purchase restituted finance
asset
Inventories 28,866,255.09 18,373,999.23
Non-current asset due
within one year
Other current assetsShenZhen Tellus Holding Co., Ltd. The 1st Quarterly Report for 2010(Full Text)
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Total current assets 137,330,335.01 27,006,350.89 144,716,404.94 31,933,955.01
Non-current assets:
Granted loans and
advances
Finance asset available for
sales 1,884,817.00 1,884,817.00 1,849,330.80 1,849,330.80
Held-to-maturity
investment 121,300.00 121,300.00
Long-term account
receivable
Long-term equity
investment 134,028,033.54 361,550,839.83 132,105,433.54 359,628,239.83
Investment property 117,589,894.66 67,038,660.36 118,899,698.41 67,779,964.32
Fixed assets 180,074,345.97 20,802,839.92 182,074,577.00 21,029,852.07
Construction in progress
Engineering material
Disposal of fixed asset
Productive biological asset
Oil and gas asset
Intangible assets 208,046.76 208,046.76 219,921.75 219,921.75
Expense on Research and
Development
Goodwill
Long-term expenses to be
apportioned 1,768,039.99 267,388.61 1,688,268.91 150,979.02
Deferred income tax asset 29,812,182.30 13,072,248.59 29,812,182.30 13,072,248.59
Other non-current asset
Total non-current asset 465,486,660.22 464,824,841.07 466,770,712.71 463,730,536.38
Total assets 602,816,995.23 491,831,191.96 611,487,117.65 495,664,491.39
Current liabilities:
Short-term loans 47,711,348.86 22,907,571.86 52,418,922.86 22,907,571.86
Loan from central bank
Absorbing deposit and
interbank deposit
Capital borrowed
Transaction financial
liabilities
Notes payable
Accounts payable 35,754,506.09 1,554.00 32,734,686.58 1,554.00
Accounts received in
advance 1,285,417.63 1,561,591.32
Selling financial asset of
repurchase
Commission charge and
commission payable
Wage payable 7,810,679.68 2,616,439.78 9,128,110.35 2,658,235.89
Taxes payable 7,291,347.35 289,663.74 9,656,230.96 278,658.81
Interest payableShenZhen Tellus Holding Co., Ltd. The 1st Quarterly Report for 2010(Full Text)
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Dividend payable
Other accounts payable 106,969,048.65 201,664,106.51 113,143,361.92 209,034,610.53
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Non-current liabilities due
within 1 year 8,160,000.00 8,160,000.00
Other current liabilities
Total current liabilities 214,982,348.26 227,479,335.89 226,802,903.99 234,880,631.09
Non-current liabilities:
Long-term loans 99,660,000.00 54,000,000.00 95,700,000.00 49,000,000.00
Bonds payable
Long-term account
payable 3,920,160.36 3,920,160.36
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 2,415,939.89 393,524.95 2,415,939.89 393,524.95
Other non-current
liabilities
Total non-current liabilities 193,564,828.82 141,962,253.52 189,604,828.82 136,962,253.52
Total liabilities 408,547,177.08 369,441,589.41 416,407,732.81 371,842,884.61
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 7,757,301.36 5,792,020.08 7,839,688.31 5,874,407.03
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 -61,591,345.43 -106,636,603.85 -60,387,273.82 -105,286,986.57
Balance difference of
foreign currency translation
Total owner’s equity
attributable to parent company 169,400,142.25 122,389,602.55 170,686,600.81 123,821,606.78
Minority interests 24,869,675.90 24,392,784.03
Total owner’s equity 194,269,818.15 122,389,602.55 195,079,384.84 123,821,606.78
Total liabilities and owner’s
equity 602,816,995.23 491,831,191.96 611,487,117.65 495,664,491.39
4.2 Profit statement
Prepared by ShenZhen Tellus Holding Co., Ltd. Jan.-Mar. 2010 Unit: RMB
Amount in this period Amount in last period
Items Consolidation Parent Company Consolidation Parent CompanyShenZhen Tellus Holding Co., Ltd. The 1st Quarterly Report for 2010(Full Text)
8
I. Total operating income 109,939,790.76 3,002,805.46 94,679,334.58 3,039,363.19
Including: Operating income 109,939,790.76 3,002,805.46 94,679,334.58 3,039,363.19
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 112,418,168.59 6,213,422.74 102,476,984.43 5,301,921.97
Including: Operating cost 92,909,659.20 972,581.20 79,515,375.80 956,854.20
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 876,949.46 156,145.89 865,690.58 158,046.89
Sales expenses 5,944,185.25 4,903,947.49
Administration expenses 10,243,858.74 3,931,721.30 14,781,345.70 3,049,575.38
Financial expenses 2,443,515.94 1,152,974.35 2,410,624.86 1,137,445.50
Losses of devaluation of
asset
Add: Changing income of
fair value(Loss is listed with
“-”)
Investment income (Loss
is listed with “-”) 1,861,000.00 1,861,000.00 -947,253.00 -947,253.00
Including: Investment
income on affiliated company
and joint venture
Exchange income (Loss is
listed with “-”)
III. Operating profit (Loss is
listed with “-”) -617,377.83 -1,349,617.28 -8,744,902.85 -3,209,811.78
Add: Non-operating
income 173,645.46 1,093,836.91
Less: Non-operating
expense 5,247.64 10,260.00 9,990.00
Including: Disposal loss of
non-current asset
IV. Total Profit (Loss is listed
with “-”) -448,980.01 -1,349,617.28 -7,661,325.94 -3,219,801.78
Less: Income tax 278,199.73 80,902.56
V. Net profit (Net loss is listed
with “-”) -727,179.74 -1,349,617.28 -7,742,228.50 -3,219,801.78
Net profit attributable to
owner’s equity of parent
company
-1,204,071.61 -1,349,617.28 -7,799,504.02 -3,219,801.78ShenZhen Tellus Holding Co., Ltd. The 1st Quarterly Report for 2010(Full Text)
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Minority shareholders’
gains and losses 476,891.87 57,275.52
VI. Earnings per share
i. Basic earnings per share -0.0055 -0.0354
ii. Diluted earnings per share -0.0055 -0.0354
VII. Other consolidated income -82,386.95 -82,386.95 297,121.24 297,121.24
VIII. Total consolidated income -809,566.69 -1,432,004.23 -7,445,107.26 -2,922,680.54
Total consolidated income
attributable to owners of parent
company
-1,286,458.56 -1,432,004.23 -7,502,382.78 -2,922,680.54
Total consolidated income
attributable to minority
shareholders
476,891.87 57,275.52
4.3 Cash flow statement
Prepared by ShenZhen Tellus Holding Co., Ltd. Jan.-Mar. 2010 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
115,824,661.36 248,596.98 102,385,184.18 262,540.40
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 24,014.06
Other cash received
concerning operating activities 19,390,026.66 6,202,196.79 37,702,015.23 18,311,204.46
Subtotal of cash inflow
arising from operating activities 135,214,688.02 6,450,793.77 140,111,213.47 18,573,744.86
Cash paid for purchasing
commodities and receiving 104,964,430.03 73,352,172.34ShenZhen Tellus Holding Co., Ltd. The 1st Quarterly Report for 2010(Full Text)
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labor service
Net increase of customer
loans and advances
Net increase of deposits in
central bank and interbank
Cash paid for original
insurance contract
compensation
Cash paid for interest,
commission charge and
commission
Cash paid for bonus of
guarantee slip
Cash paid to/for staff and
workers 13,984,416.79 3,032,018.45 18,361,195.22 2,400,121.27
Taxes paid 4,838,458.84 529,004.08 4,197,862.87 465,583.41
Other cash paid
concerning operating activities 26,752,027.76 7,124,510.63 33,555,144.57 797,389.77
Subtotal of cash outflow
arising from operating activities 150,539,333.42 10,685,533.16 129,466,375.00 3,663,094.45
Net cash flows arising
from operating activities -15,324,645.40 -4,234,739.39 10,644,838.47 14,910,650.41
II. Cash flows arising from
investing activities:
Cash received from
recovering investment
Cash received from
investment income
Net cash received from
disposal of fixed, intangible and
other long-term assets
15,500.00 2,360.00 360.00
Net cash received from
disposal of subsidiaries and
other units
Other cash received
concerning investing activities
Subtotal of cash inflow
from investing activities 15,500.00 2,360.00 360.00
Cash paid for purchasing
fixed, intangible and other
long-term assets
302,676.00 18,097.00 208,998.00
Cash paid for investment 117,873.15 117,873.15 48,000.00
Net increase of mortgaged
loans
Net cash received from
subsidiaries and other units
Other cash paid
concerning investing activities
Subtotal of cash outflow
from investing activities 420,549.15 135,970.15 256,998.00
Net cash flows arising
from investing activities -405,049.15 -135,970.15 -254,638.00 360.00
III. Cash flows arising from
financing activities
Cash received fromShenZhen Tellus Holding Co., Ltd. The 1st Quarterly Report for 2010(Full Text)
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absorbing investment
Including: Cash received
from absorbing minority
shareholders’ investment by
subsidiaries
Cash received from loans 6,000,000.00 6,000,000.00 17,200,000.00
Cash received from issuing
bonds
Other cash received
concerning financing activities 41,755.68 52,456.52
Subtotal of cash inflow
from financing activities 6,041,755.68 6,000,000.00 17,252,456.52
Cash paid for settling debts 2,540,000.00 1,000,000.00 25,772,206.30 14,600,000.00
Cash paid for dividend and
profit distributing or interest
paying
1,593,619.75 697,230.00 1,065,495.13 268,690.40
Including: Dividend and
profit of minority shareholder
paid by subsidiaries
Other cash paid
concerning financing activities 190,460.00
Subtotal of cash outflow
from financing activities 4,133,619.75 1,697,230.00 27,028,161.43 14,868,690.40
Net cash flows arising
from financing activities 1,908,135.93 4,302,770.00 -9,775,704.91 -14,868,690.40
IV. Influence on cash and cash
equivalents due to fluctuation in
exchange rate
946.28 43.28
V. Net increase of cash and cash
equivalents -13,821,558.62 -67,939.54 615,441.84 42,363.29
Add: Balance of cash and
cash equivalents at the period
-begin
72,376,177.95 401,503.65 39,674,670.71 585,403.42
VI. Balance of cash and cash
equivalents at the period -end 58,554,619.33 333,564.11 40,290,112.55 627,766.71
4.4 Auditor’report
Auditor’s opinions: Un-audited
Chairman of the Board: Zhang Ruili
Board of Directors of
ShenZhen Tellus Holding Co., Ltd.
April 28, 2010
