Shenzhen Tellus Holding Co., Ltd. The Third Quarterly Report For 2010 (Full Text)
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Shenzhen Tellus Holding Co., Ltd.
The Third Quarterly Report For 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 Third Quarterly Financial Report of 2010 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
2010.9.30 2009.12.31 Increase/decrease scope
(%)
Total assets (RMB) 593,457,486.06 611,487,117.65 -2.95%
Owners’ equities attributable to the
shareholders of listed company
(RMB)
171,125,775.99 170,686,600.81 0.26%
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)
0.777 0.775 0.26%
July. – Sep. 2010
Increase/decrease
over the same
period of the last
year (%)
Jan. – Sep. 2010
Increase/decrease
over the same
period of the last
year (%)
Total operating income (RMB) 100,520,039.26 -17.88% 298,843,228.05 -8.74%
Net profit attributable to the
shareholders of listed company
(RMB)
-191,587.79 86.92% 907,092.88 -30.69%
Net cash flow arising from operating
activities (RMB)
- - -18,843,835.46 -276.51%
Net cash flow arising from operating
activities per share (RMB/Share)
- - -0.086 -276.51%
Basic earnings per share
(RMB/Share) -0.001 85.71% 0.004 -33.33%
Diluted earnings per share
(RMB/Share)
-0.001 85.71% 0.004 -33.33%
Weighted average return on equity
(%) -0.11% 0.77% 0.53% -0.26%
Weighted average return on equity
after deducting non-recurring gains
and losses (%)
-0.23% 1.17% 0.30% 5.92%Shenzhen Tellus Holding Co., Ltd. The Third Quarterly Report For 2010 (Full Text)
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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 322,756.66
Funds occupied capital received from non-financial
enterprises reckoned into current gains/losses
56,874.98
Gains/losses from debts restructuring 10,395.82
Other non-operating income and expense except for the
aforementioned items 1,235.56
Total 391,263.02 -
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
18,586
Particulars about the shares held by the top ten shareholders with unrestricted conditions
Full Name of shareholders Unrestricted shares
held
Type of shares
Shenzhen SDG Co., Ltd. 131,283,504 RMB common share
Zhou Jianfeng 497,239 RMB common share
THE FISRT SHANGHAI SECURITIES CO., LTD. 464,678 Domestically listed foreign share
Zhang Zibin 444,839 RMB common share
Ye Ying 440,000 RMB common share
Li Lvye 401,518 RMB common share
Tang Zhangmei 377,670 RMB common share
He Xin 372,980 Domestically listed foreign share
Kan Hui 353,800 RMB common share
Peng Weijuan 284,400 RMB common 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
1. Inventory: RMB 30.3072 million reached in the end of this report period. Increased RMB 11.9332 million over
that of year-begin with 64.95% up, mainly due to the growth of vehicle inventory.
2. Investment income: RMB 6.4224 million reached in this report period. Increased RMB 2.8242 million over same
period of last year with 78.49% up, mainly due to the profitability of joint-stock enterprise in this report period.
3. Non-operating income: RMB 0.3797 million reached in this report period. Decreased RMB 10.3875 million over
same period of last year with 96.47% down, mainly due to the gains obtained from debt restructuring in same
period of last year.
4. Non-operating expenditure: Reached 0.0453 million in the report period. Decreased RMB 0.1583 million over
same period of last year with 77.73% down, mainly due to the gains/losses of disposal of non-current assets and
donation expenditure occurred in same period of previous year.
5. Other consolidated income: Reached RMB-0.4679 million in this report period. Decreased RMB 1.0239 million
over same period of last year with 184.17% down, mainly due to the down of share price held.
6. Other cash received from operating activities: RMB 56.2275 million reached in this report period. Decreased
RMB 56.7268 million over same period of last year with 50.22% down, mainly due to the contact with SDG last
year.
7. Cash received from loans: RMB 20.5 million reached in this report period. Decreased RMB 103.7 million over
same period of last year with 83.49% down, mainly due to the long-term loans obtained from SPD Bank last year.
3.2 Progress of significant events, their influences, and analysis and explanation of their
solutions
3.2.1 Qualified opinion
□Applicable √InapplicableShenzhen Tellus Holding Co., Ltd. The Third Quarterly Report For 2010 (Full Text)
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3.2.2 Particular about fund offers to controlling shareholders or associated parties and
external guarantee that against the regulation.
□Applicable √Inapplicable
3.2.3 Particular about signing and implementation on significant contracts of ordinary
management.
□Applicable √Inapplicable
3.2.4 Other
□Applicable √Inapplicable
3.3 Implementations of commitments by the Company, shareholders and actual controller
√Applicable □Inapplicable
Commitments Promiser Content of commitments Implementation
Commitments for Share
Merger Reform
SDG
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 made in
Acquisition Report or
Reports on Change in
Interests
Naught Naught Naught
Commitments made in
Material Assets
Reorganization
Naught Naught Naught
Commitments made in
issuing
Naught Naught Naught
Other commitments
(including additional
commitments)
Naught Naught NaughtShenzhen Tellus Holding Co., Ltd. The Third Quarterly Report For 2010 (Full Text)
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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 Particular about security investment
□Applicable √Inapplicable
3.5.2 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.
3.6 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. 30 September 2010 Unit: RMB
Balance at Items period-end Balance at year-begin
Consolidation Parent Company Consolidation Parent Company
Current assets:
Monetary funds 59,227,551.94 308,347.08 77,376,177.95 401,503.65
Settlement provisions
Capital lent
Transaction finance asset
Notes receivable
Accounts receivable 8,665,277.26 8,813,731.55
Accounts paid in advance 13,602,737.26 17,878,392.46
Insurance receivable
Reinsurance receivables
Contract reserve of
reinsurance receivable
Interest receivable
Dividend receivable
Other account receivable 20,155,598.25 24,558,874.08 22,274,103.75 31,532,451.36
Purchase restituted
finance asset
Inventories 30,307,191.30 18,373,999.23
Non-current asset due
within one year
Other current assets
Total current assets 131,958,356.01 24,867,221.16 144,716,404.94 31,933,955.01
Non-current assets:
Granted loans and advances
Finance asset available for 1,499,286.25 1,499,286.25 1,849,330.80 1,849,330.80Shenzhen Tellus Holding Co., Ltd. The Third Quarterly Report For 2010 (Full Text)
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sales
Held-to-maturity
investment 121,300.00 121,300.00
Long-term account
receivable
Long-term equity
investment 138,676,412.76 364,109,339.83 132,105,433.54 359,628,239.83
Investment real estate 114,970,287.16 65,556,052.44 118,899,698.41 67,779,964.32
Fixed assets 174,807,369.72 20,487,634.54 182,074,577.00 21,029,852.07
Construction in progress
Engineering material
Disposal of fixed asset
Productive biological asset
Oil and gas asset
Intangible assets 184,296.78 184,296.78 219,921.75 219,921.75
Expense on Research and
Development
Goodwill
Long-term expenses to be
apportioned
1,427,995.08 205,212.52 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 461,499,130.05 465,114,070.95 466,770,712.71 463,730,536.38
Total assets 593,457,486.06 489,981,292.11 611,487,117.65 495,664,491.39
Current liabilities:
Short-term loans 48,843,540.08 16,885,830.08 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 33,375,874.15 1,554.00 32,734,686.58 1,554.00
Accounts received in
advance
1,292,770.64 1,561,591.32
Selling financial asset of
repurchase
Commission charge and
commission payable
Wage payable 6,569,175.57 464,882.19 9,128,110.35 2,658,235.89
Taxes payable 5,636,197.17 530,324.02 9,656,230.96 278,658.81
Interest payable
Dividend payable
Other accounts payable 104,215,682.10 212,183,833.06 113,143,361.92 209,034,610.53
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Non-current liabilities due
within one year 8,520,000.00 8,160,000.00
Other current liabilities
Total current liabilities 208,453,239.71 230,066,423.35 226,802,903.99 234,880,631.09
Non-current liabilities:
Long-term loans 94,980,000.00 51,760,000.00 95,700,000.00 49,000,000.00Shenzhen Tellus Holding Co., Ltd. The Third Quarterly Report For 2010 (Full Text)
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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 188,884,828.82 139,722,253.52 189,604,828.82 136,962,253.52
Total liabilities 397,338,068.53 369,788,676.87 416,407,732.81 371,842,884.61
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 7,371,770.61 5,406,489.33 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 -59,480,180.94 -108,448,060.41 -60,387,273.82 -105,286,986.57
Balance difference of
foreign currency translation
Total owner’s equity
attributable to parent
company
171,125,775.99 120,192,615.24 170,686,600.81 123,821,606.78
Minority interests 24,993,641.54 24,392,784.03
Total owner’s equity 196,119,417.53 120,192,615.24 195,079,384.84 123,821,606.78
Total liabilities and owner’s
equity
593,457,486.06 489,981,292.11 611,487,117.65 495,664,491.39
4.2 Profit Statement (this report period)
Prepared by: Shenzhen Tellus Holding Co., Ltd. July - September of 2010 Unit: RMB
Amount Items in this period Amount in last period
Consolidation Parent Company Consolidation Parent Company
I. Total operating income 100,520,039.26 3,226,531.44 122,405,699.45 3,121,023.02
Including: Operating income 100,520,039.26 3,226,531.44 122,405,699.45 3,121,023.02
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 102,427,112.42 5,952,713.71 124,460,950.31 6,740,127.68
Including: Operating cost 84,250,158.42 975,033.20 104,389,847.76 1,147,129.70
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 expenseShenzhen Tellus Holding Co., Ltd. The Third Quarterly Report For 2010 (Full Text)
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Operating tax and extras 989,028.24 2,690,057.43 962,274.40 162,293.21
Sales expenses 4,879,116.85 6,122,701.64
Administration
expenses 10,299,013.79 3,785,010.27 10,495,000.83 4,075,885.37
Financial expenses 2,009,795.12 1,024,890.29 2,491,125.68 1,354,819.40
Losses of devaluation
of asset
Add: Changing income of
fair value(Loss is listed with
“-”)
Investment income (Loss
is listed with “-”)
1,543,809.24 749,155.02 378,196.41 1,540,871.41
Including: Investment
income on affiliated
company and joint venture
1,543,809.24 749,155.02 378,196.41 1,540,871.41
Exchange income (Loss is
listed with “-”)
III. Operating profit (Loss
is listed with “-”)
-363,263.92 -1,977,027.25 -1,677,054.45 -2,078,233.25
Add: Non-operating
income
193,773.07 922,884.87
Less: Non-operating
expense 24,179.00 89,585.94 56,879.55
Including: Disposal loss of
non-current asset
30,027.81 3,190.25
IV. Total Profit (Loss is
listed with “-”) -193,669.85 -1,977,027.25 -843,755.52 -2,135,112.80
Less: Income tax expense 9,342.64 253,269.24
V. Net profit (Net loss is
listed with “-”) -203,012.49 -1,977,027.25 -1,097,024.76 -2,135,112.80
Net profit attributable to
owner’s of parent company
-191,587.79 -1,977,027.25 -1,464,309.63 -2,135,112.80
Minority shareholders’
gains and losses -11,424.70 367,284.87
VI. Earnings per share:
i. Basic earnings per share -0.001 -0.007
ii. Diluted earnings per share -0.001 -0.007
VII. Other consolidated
income
-6,946.50 -6,946.50 -251,877.24 -251,877.24
VIII. Total consolidated
income -209,958.99 -1,983,973.75 -1,348,902.00 -2,386,990.04
Total consolidated income
attributable to owners of
parent company
-198,534.29 -1,983,973.75 -1,716,186.87 -2,386,990.04
Total consolidated income
attributable to minority
shareholders
-11,424.70 367,284.87
4.3 Profit Statement (From Year-begin to the end of this report period)
Prepared by: Shenzhen Tellus Holding Co., Ltd. January - September of 2010 Unit: RMB
Amount Items in this period Amount in last period
Consolidation Parent Company Consolidation Parent Company
I. Total operating income 298,843,228.05 9,574,361.58 327,467,491.34 9,268,974.87
Including: Operating income 298,843,228.05 9,574,361.58 327,467,491.34 9,268,974.87Shenzhen Tellus Holding Co., Ltd. The Third Quarterly Report For 2010 (Full Text)
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Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 303,630,806.88 17,486,995.65 338,920,615.87 17,624,646.22
Including: Operating cost 248,509,832.18 3,020,144.60 276,940,421.99 3,078,522.10
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 2,860,729.34 3,020,144.60 2,751,232.90 481,986.71
Sales expenses 15,438,262.85 16,202,039.32
Administration
expenses 30,370,565.53 10,724,741.61 36,056,953.91 10,445,203.16
Financial expenses 6,451,416.98 3,244,242.63 6,984,027.35 3,618,934.25
Losses of devaluation of
asset -14,059.60
Add: Changing income
of fair value(Loss is listed
with “-”)
Investment income
(Loss is listed with “-”)
6,422,439.45 4,761,560.23 3,598,196.41 5,731,721.41
Including: Investment
income on affiliated
company and joint venture
6,422,439.45 4,761,560.23 3,598,196.41 5,731,721.41
Exchange income (Loss
is listed with “-”)
III. Operating profit (Loss
is listed with “-”)
1,634,860.62 -3,151,073.84 -7,854,928.12 -2,623,949.94
Add: Non-operating
income
379,730.71 10,767,273.44 8,422,279.79
Less: Non-operating
expense 45,342.67 10,000.00 203,593.05 166,400.72
Including: Disposal loss
of non-current asset
3,053.74 40,017.81 13,180.25
IV. Total Profit (Loss is
listed with “-”) 1,969,248.66 -3,161,073.84 2,708,752.27 5,631,929.13
Less: Income tax
expense
461,298.27 637,914.86
V. Net profit (Net loss is
listed with “-”)
1,507,950.39 -3,161,073.84 2,070,837.41 5,631,929.13
Net profit attributable to
owner’s of parent company 907,092.88 -3,161,073.84 1,308,837.99 5,631,929.13
Minority shareholders’
gains and losses
600,857.51 761,999.42
VI. Earnings per share:
i. Basic earnings per share 0.004 0.006
ii. Diluted earnings per share 0.004 0.006Shenzhen Tellus Holding Co., Ltd. The Third Quarterly Report For 2010 (Full Text)
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VII. Other consolidated
income
-467,917.70 -467,917.70 555,945.76 555,945.76
VIII. Total consolidated
income
1,040,032.69 -3,628,991.54 2,626,783.17 6,187,874.89
Total consolidated income
attributable to owners of
parent company
439,175.18 -3,628,991.54 1,864,783.75 6,187,874.89
Total consolidated income
attributable to minority
shareholders
600,857.51 761,999.42
4.4 Cash Flow Statement (From Year-begin to the end of this report period)
Prepared by: Shenzhen Tellus Holding Co., Ltd. January - September of 2010 Unit: RMB
Amount Items in this period Amount in last period
Consolidation Parent Company Consolidation Parent Company
I. Cash flows arising from
operating activities:
Cash received from
selling commodities and
providing labor services
314,731,727.98 1,072,419.50 346,075,533.45 711,621.20
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
Other cash received
concerning operating
activities
56,227,513.58 15,948,241.17 112,954,280.92 83,619,950.67
Subtotal of cash inflow
arising from operating
activities
370,959,241.56 17,020,660.67 459,093,133.41 84,331,571.87
Cash paid for
purchasing commodities and
receiving labor service
276,748,621.50 274,070,332.49Shenzhen Tellus Holding Co., Ltd. The Third Quarterly Report For 2010 (Full Text)
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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
36,537,553.59 6,713,755.20 41,780,059.93 5,856,323.39
Taxes paid 14,241,492.18 1,728,016.54 17,434,697.86 3,805,920.71
Other cash paid
concerning operating
activities
62,275,409.75 9,563,658.35 115,132,247.94 63,994,747.72
Subtotal of cash outflow
arising from operating
activities
389,803,077.02 18,005,430.09 448,417,338.22 73,656,991.82
Net cash flows arising
from operating activities
-18,843,835.46 -984,769.42 10,675,795.19 10,674,580.05
II. Cash flows arising from
investing activities:
Cash received from
recovering investment
Cash received from
investment income 462,060.23 462,060.23 437,747.48 437,747.48
Net cash received from
disposal of fixed, intangible
and other long-term assets
50,649.00 32,300.00 1,600.00
Net cash received from
disposal of subsidiaries and
other units
Other cash received
concerning investing
activities
Subtotal of cash inflow
from investing activities
512,709.23 462,060.23 470,047.48 439,347.48
Cash paid for
purchasing fixed, intangible
and other long-term assets
382,715.00 45,205.00 590,657.80 70,955.00
Cash paid for
investment 546,873.15 117,873.15 223,000.00
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
929,588.15 163,078.15 813,657.80 70,955.00
Net cash flows arising from -416,878.92 298,982.08 -343,610.32 368,392.48Shenzhen Tellus Holding Co., Ltd. The Third Quarterly Report For 2010 (Full Text)
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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
20,500,000.00 6,000,000.00 124,200,000.00 50,000,000.00
Cash received from
issuing bonds
Other cash received
concerning financing
activities
207,573.28 8,604,777.44
Subtotal of cash inflow
from financing activities
20,707,573.28 6,000,000.00 132,804,777.44 50,000,000.00
Cash paid for settling
debts
14,663,318.00 3,240,000.00 125,572,206.30 56,800,000.00
Cash paid for dividend
and profit distributing or
interest paying
4,929,556.31 2,166,007.04 6,470,713.88 4,390,681.90
Including: Dividend and
profit of minority
shareholder paid by
subsidiaries
Other cash paid
concerning financing
activities
890,669.39
Subtotal of cash outflow
from financing activities
19,592,874.31 5,406,007.04 132,933,589.57 61,190,681.90
Net cash flows arising
from financing activities
1,114,698.97 593,992.96 -128,812.13 -11,190,681.90
IV. Influence on cash and
cash equivalents due to
fluctuation in exchange rate
-2,610.60 -1,362.19 930.24 27.24
V. Net increase of cash and
cash equivalents
-18,148,626.01 -93,156.57 10,204,302.98 -147,682.13
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 54,227,551.94 308,347.08 49,878,973.69 437,721.29
4.5 Auditing Report
Auditing Opinion: Un-audited
Chairman of the Board: Zhang Ruili
Board of Directors of
ShenZhen Tellus Holding Co., Ltd.
October 21, 2010
