SHENZHEN SPECIAL ECONOMIC ZONE REAL
ESTATE & PROPERTIES (GROUP) CO., LTD.
THE THIRD QUARTERLY REPORT 2011
§1. Important Notice
1.1 The Board of Directors, the Supervisory Committee and the directors, supervisors
and senior management of Shenzhen Special Economic Zone Real Estate & Properties
(Group) Co., Ltd. (hereinafter referred to as “the Company”) hereby guarantee that
this report does not contain any false information, misleading statements or material
omissions, and accept, individually and collectively, the responsibility for the
factuality, accuracy and completeness of this report.
1.2 Except the director mentioned below, all other directors attended in person the
board session for reviewing this quarterly report.
Name Position Reason for not attending the session in person Proxy
Liu Quanmin Independent director On a business trip Song Botong
1.3 The Financial Report in this quarterly report has not been audited by a CPA firm.
1.4 Mr. Zhou Jianguo, Person-in-charge of the Company, Mr. Chen Maozheng,
Person-in-charge of the accounting work, and Mr. Chen Jincai, Person-in-charge of
the accounting organ hereby confirm the factuality and completeness of the Financial
Report in this quarterly report.
§2 Company Profile
2.1 Main accounting data and financial indicators
jUnit: (RMB) Yuan
As at 30 Sept. 2011 As at 31 Dec. 2010 Increase/decrease (%)
Total assets (Yuan) 3,290,134,878.37 3,379,090,178.02 -2.63%
Owners’ equity attributable to
1,516,954,396.31 1,427,871,870.03 6.24%
shareholders of listed company (Yuan)
Share capital (share) 1,011,660,000.00 1,011,660,000.00 0.00%
Net assets per share attributable to
shareholders of listed company 1.4995 1.4114 6.24%
(Yuan/share)
Increase/decrease Increase/decrease
Jul.-Sept. 2011 Jan.-Sept. 2011
year-on-year (%) year-on-year (%)
Total operation income (Yuan) 242,120,819.58 28.29% 796,040,623.55 12.51%
Net profit attributable to shareholders of
22,396,801.90 73.00% 86,697,661.76 12.51%
listed company (RMB)
Net cash flows generated from operating
- - 84,217,559.08 133.91%
activities (Yuan)
Net cash flows per share generated from
- - 0.0832 133.91%
operating activities (Yuan/share)
Basic earnings per share (Yuan/share) 0.0221 72.66% 0.0857 12.47%
Diluted earnings per share (Yuan/share) 0.0221 72.66% 0.0857 12.47%
Weighted average return on net assets (%) 1.55% 0.59% 5.89% 0.31%
Weighted average return on net assets after
deducting extraordinary gains and losses 1.55% 0.59% 5.83% 0.94%
(%)
Items of non-recurring gains and losses
√Applicable □Inapplicable
Unit: (RMB) Yuan
Items of non-recurring gains and losses Amount Notes (If applicable)
Gains and losses from disposal of non-current assets 199,681.57
Gains and losses from changes in fair value of the held tradable
financial assets and liabilities, and investment income from disposal of -14,023.62
tradable financial assets and liabilities and available-for-sale financial
1
assets, excluding the effective hedging businesses related with the
normal operation of the Company
Other non-operating income and expenses besides the above items 793,837.55
Effect on income tax -10,073.99
Total 969,421.51 -
2.2 Total number of shareholders at period-end and shareholding of top ten
shareholders holding tradable shares
Unit: share
Total number of shareholders at the period-end 87,686
Shareholding of top ten shareholders holding tradable shares
Number of tradable shares
Full name of shareholder Type of share
held at period-end
SHENZHEN INVESTMENT HOLDINGS CO.,
642,884,262 RMB Ordinary Shares
LTD.
WANG JIA 3,327,300 RMB Ordinary Shares
QIAN GUANG YUE 1,648,000 RMB Ordinary Shares
JING JIAN JUN 1,205,100 RMB Ordinary Shares
WANG ZHONG MING 1,095,808 Domestically listed foreign shares
WU HAO YUAN 1,092,100 Domestically listed foreign shares
REN HUAN 1,003,148 RMB Ordinary Shares
GUOTAI JUNAN SECURITIES(HONGKONG)
967,050 Domestically listed foreign shares
LIMITED
XUE HAOYUAN 894,956 RMB Ordinary Shares
GUANGDONG FUYING CONSTRUCTION
786,700 RMB Ordinary Shares
CO., LTD.
§ 3 Significant Events
3.1 Particulars about major changes of main accounting statement items and financial
indicators, as well as reasons for the changes
√Applicable □Inapplicable
A. Indicators of assets and liabilities
a. Prepayments were RMB 36.90 million, up 37.24% from RMB 26.89 million at the
year-begin, which was mainly because prepayments for construction went up.
b. Construction in process was RMB 2.99 million, up 475.32% from RMB 0.52
million at the year-begin, which was mainly due to more elevator repair and room
decoration.
c. Long-term deferred expense was RMB 0.40 million, up 100.00% from RMB 0.20
million at the year-begin, which was mainly due to more expense on decoration.
d. Short-term borrowings were RMB 20 million, up 35.14% from RMB 14.80 million
at the year-begin, which was mainly due to more short-term borrowings from banks.
e. Non-current liabilities due within one year were RMB 58.66 million, up 99.35%
from RMB 29.42 million at the year-begin, which was mainly because long-term bank
borrowings due within one year increased.
f. Payroll payable was RMB 24.33 million, down 38.16% from RMB 39.34 million at
the year-begin, which was mainly because salaries for last year were paid.
g. Taxes and fares payable were RMB -8.95 million, up 32.90% from RMB -13.33
million at the year-begin, which was mainly because the Company paid the business
income tax for last year, pre-paid the sales tax and surtax according to the
pre-collected sums from selling properties, and pre-paid the land VAT according to the
pre-requisition rate.
B. Indicators of gains and losses
a. Operating revenue was RMB 796.04 million, up 12.51% from RMB 707.56 million
for the same period of last year, which was mainly due to more earnings on selling
properties and launching construction projects.
b. Financial expense was RMB 4.67 million, down 89.71% from RMB 45.36 million
2
for the same period of last year, which was mainly due to the interest capitalization of
borrowings for real estate projects.
c. Investment income was RMB 0.09 million, down 99.60% from RMB 22.54 million
for the same period of last year, which was mainly because the Company received no
incomes from equity bonuses or from disposal of equity investments in the reporting
period.
d. Non-business income was RMB 1.18 million, up 736.22% from RMB 0.14 million
for the same period of last year, which was mainly due to the non-current asset
disposal gains and the default fines on receivables arising from property sale.
e. Total profit was RMB 113.36 million, up 23.80% from RMB 91.57 million for the
same period of last year, which was mainly due to the increased operating revenue
and the decreased time cost.
C. Indicators in the cash flow statement
a. Net cash flows from operating activities were RMB 84.22 million, up 133.91%
from RMB -248.35 million for the same period of last year, which was mainly
because the cash paid to purchase goods and labor services decreased.
b. Net cash flows from investing activities were RMB -4.21 million, down 140% from
RMB 10.52 million for the same period of last year, which was mainly because
investment retractions and investment gains decreased while the cash paid to acquire
fixed assets, intangible assets and other long-term assets went up.
c. Net cash flows from financing activities were RMB -128.57 million, down
149.19% from RMB 261.37 million for the same period of last year, which was
mainly because bank loans decreased in the reporting period.
3.2 Progress and influence of significant events, as well as the analysis on solutions
3.2.1 Non-standard audit opinion
□Applicable √Inapplicable
3.2.2 Whether the Company provided funds to the controlling shareholder or its
related parties or provided guarantees to external parties in violation of the prescribed
procedures
□Applicable √Inapplicable
3.2.3 Signing and execution of significant contracts concerning routine operations
□Applicable √Inapplicable
3.2.4 Others
√Applicable □Inapplicable
During the reporting period, the Company’s internal control improvement went well.
On 5 Sept. 2011, the Company and Deloitte Touche Tohmatsu CPA Shenzhen Office
officially signed a service contract. According to the Company’s internal control
improvement schedule, Deloitte Touche Tohmatsu CPA Shenzhen Office started the
on-site work on 20 Sept. 2011. Up to 30 Sept. 2011, the first phase of the
improvement project (working out a work plan) had been completed, and the second
phase (establishing internal control systems within the project scope) had started. Up
to today when this report is disclosed, the CPA office has finished on-site interviews
with eight of the Company’s subsidiaries targeted by the internal control improvement
project.
3.3 Fulfillment of commitments made by the Company, shareholders and the actual
controller
Commitments made by the Company, its directors, supervisors, senior executives,
shareholders with an over 5% shareholding, actual controller and other stakeholders
during the reporting period, or such commitments carried down into the reporting
period:
3
√Applicable □Inapplicable
Commitment Promisor Contents of commitment Implementation
1. The Company shall abide by the relevant laws, regulations
and rules, and fulfill the legal commitments; 2. The Company
hereby declares that: The promisor shall faithfully fulfill its
commitments and shoulder corresponding responsibilities;
Unless the transferee agrees to and is able to fulfill the
commitments, the promisor shall not transfer the held shares;
3. The Company hereby declares that: Should the promisor fail
Shenzhen
to fulfill its commitments prescribed in the relevant
Commitment made in Investment
documents, it shall compensate the other shareholders for their Fulfilled
the share reform Holdings Co.,
losses caused thereupon; 4. The shares shall not be listed or
Ltd.
transferred within 12 months from the date when the reform
plan is implemented; When the aforesaid provision reaches its
mature term, the originally non-tradable shares may be listed
for trading at securities exchanges, with the proportion of the
sold amount in the Company’s total shares not exceeding 5%
within 12 months, as well as not exceeding 10% within 24
months.
Commitment in the
acquisition report or the
Naught Naught Naught
report on equity
changes
Commitment made in
the significant asset Naught Naught Naught
reorganization
Commitment made in
Naught Naught Naught
the issuance
In the share merger reform, Shenzhen Investment Holding Co.,
Ltd. promised to implement a share incentive plan, where the
company was to sell its held shares (not exceeding 10% of
SPG’s total shares) to the SPG’s management on three years’
amortization. On 30 Sept. 2006, the State-Owned Assets
Shenzhen Supervision and Administration Commission of the State
Other commitments
Investment Council issued the Trial Measures for Implementing Equity Unable to be
(including
Holdings Co., Incentive Plans by State Holding Listed Companies fulfilled
supplementary ones)
Ltd. (Domestic) (GZFFP【2006】No. 175). The Item 9 of the Trail
Measures stipulates that the source of the subject shares for
implementing the equity incentive plan of a listed company
shall not be paid by a single state shareholder and that the state
equity shall not be gratuitously quantized either. Therefore, the
equity incentive plan was unable to be implemented.
3.4 Warnings of possible losses or major changes of the accumulative net profit
achieved during the period from year-begin to the end of the next reporting period
compared with the same period of last year, as well as explanation on reasons
□Applicable √Inapplicable
3.5 Other significant events that need to be explained
3.5.1 Investments into securities
√Applicable □Inapplicable
Unit: (RMB) Yuan
Proportion in
Gains or
Initial Shares held total
Book value losses in
Serial Short form of investment at securities
Securities variety Stock code at the
No. stock amount period-end investment at
period-end reporting
(Yuan) (share) period-end
period
(%)
Other securities investments held at period-end 0.00 - 0.00 0.00% 0.00
Gains/ losses from securities investment sold in the
- - - - 5,383.40
reporting period
Total 0.00 - 0.00 100% 5,383.40
Explanation on securities investment:
In order to standardize investment activities in the Company and avoid investment
4
risks, small lots of securities investments of the Company have been cleared up during
the reporting period.
3.5.2 Researches, interviews and visits received in the reporting period
Main discussion and materials
Time Place Way of reception Visitor
provided by the Company
Inquiring about the reason of the
Company’s stock trading closed
after reaching the upper trading
6 Jul. 2011 Company Office By phone Individual investor
limit and its operating status, with
no written materials being
provided by the Company
Inquiring about the Company’s
land reserves and the progress of
9 Aug. 2011 Company Office By phone Individual investor relevant projects, with no written
materials being provided by the
Company
Inquiring about the Company’s
opinions on macro economic
28 Sept. 2011 Company Office By phone Individual investor situation and real estate market,
with no written materials being
provided by the Company
3.6 Investments into derivatives
□Applicable √Inapplicable
3.6.1 Positions of derivatives investments held at period-end
□Applicable √Inapplicable
§ 4 Attachments
4.1 Balance sheet
Prepared by: SHENZHEN Special Economic Zone Real Estate & Properties (Group) Co., Ltd
As at 30 Sept. 2011 Unit: (RMB) Yuan
30 Sept. 2011 31 Dec. 2010
Items
Consolidation The Company Consolidation The Company
Current assets:
Monetary fund 329,499,893.71 164,984,731.07 379,720,636.21 191,108,590.15
Settlement fund
Lending to the bank and other
institutions
Transaction financial assets 97,726.25 97,726.25
Notes receivable
Accounts receivable 17,568,778.69 5,229,867.54 17,152,478.36 5,694,673.47
Prepayments 36,903,466.55 668,400.00 26,890,551.77 1,199,429.00
Premium receivable
Receivable from reinsurance
Reinsurance contract reserve
receivables
Interest receivable
Dividend receivable
Other receivables 47,108,778.83 300,363,425.24 47,534,939.51 277,483,418.47
Financial assets purchased
under agreements to resell
Inventory 2,193,803,179.28 1,498,349,666.89 2,224,938,706.49 1,413,212,628.44
Non-current assets due within 1
year
5
Other current assets
Total current assets 2,624,884,097.06 1,969,596,090.74 2,696,335,038.59 1,888,796,465.78
Non-current assets:
Loan and payment on other's
behalf disbursed
Available-for-sale financial
assets
Held-to-maturity investment
Long-term account receivables
Long-term equity investment 63,351,810.37 286,522,524.97 63,426,810.37 286,597,524.97
Investment property 513,513,282.49 449,730,797.03 530,109,494.13 464,169,328.80
Fixed assets 61,737,302.37 37,019,862.97 64,526,512.04 38,189,370.22
Construction in progress 2,991,653.28 520,000.00
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 6,135,481.70 450,766.70 6,213,266.67 212,066.67
Development expenses
Goodwill
Long-term deferred expenses 396,498.99 260,118.90 202,456.50
Deferred income tax assets 17,124,752.11 923,314.27 17,756,599.72 923,314.27
Other non-current assets
Total non-current assets 665,250,781.31 774,907,384.84 682,755,139.43 790,091,604.93
Total assets 3,290,134,878.37 2,744,503,475.58 3,379,090,178.02 2,678,888,070.71
Current liabilities:
Short-term borrowing 20,000,000.00 14,800,000.00
Borrowing from central bank
Deposits received and held for
others
Inter-bank borrowings
Transaction financial liability
Notes payable
Accounts payable 203,990,418.37 19,493,292.02 228,580,780.82 20,387,450.12
Advances from customers 323,320,086.85 11,677,939.60 395,332,270.89 15,424,301.60
Financial assets sold under
agreements to repurchase
Handling charges and
commissions receivable
Paid for and to employees 24,327,910.00 6,782,505.12 39,338,801.36 14,865,546.49
Taxes payable -8,946,995.99 2,075,435.10 -13,333,458.44 1,444,204.58
Interest payable 16,535,277.94 16,535,277.94 16,535,277.94 16,535,277.94
Dividend payable
Other payables 304,286,934.80 619,630,754.39 302,144,393.62 525,522,847.87
Accounts due to reinsurance
Insurance contract reserves
Entrusted trading of securities
Entrusted selling of securities
6
Non-current liabilities due
58,656,207.06 58,656,207.06 29,423,411.10 29,423,411.10
within 1 year
Other current liabilities
Total current liabilities 942,169,839.03 734,851,411.23 1,012,821,477.29 623,603,039.70
Non-current liabilities:
Long-term borrowings 947,411,951.79 807,411,951.79 1,056,703,120.34 856,703,120.34
Bonds payable
Long-term payables 10,600,079.45 9,779,108.83
Special payables
Estimated liabilities
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 958,012,031.24 807,411,951.79 1,066,482,229.17 856,703,120.34
Total liabilities 1,900,181,870.27 1,542,263,363.02 2,079,303,706.46 1,480,306,160.04
Owners’ equity(or shareholders’
equity):
Paid-in capital (or share capital) 1,011,660,000.00 1,011,660,000.00 1,011,660,000.00 1,011,660,000.00
Capital surplus 978,244,858.10 978,244,858.10 978,244,858.10 978,244,858.10
Less: treasury stock
Specific reserves
Surplus reserves 4,974,391.15 4,974,391.15
General risk provision
Retained earnings -490,471,347.78 -787,664,745.54 -577,169,009.54 -791,322,947.43
Foreign exchange difference 12,546,494.84 10,161,630.32
Total owners’ equity attributable
1,516,954,396.31 1,202,240,112.56 1,427,871,870.03 1,198,581,910.67
to the Company
Minority interest -127,001,388.21 -128,085,398.47
Total owners’ equity 1,389,953,008.10 1,202,240,112.56 1,299,786,471.56 1,198,581,910.67
Total liabilities and owners’
3,290,134,878.37 2,744,503,475.58 3,379,090,178.02 2,678,888,070.71
equity
4.2 Income statement for Jul.-Sept. 2011
Prepared by: SHENZHEN Special Economic Zone Real Estate & Properties (Group) Co., Ltd
Jul.-Sept. 2011 Unit: (RMB) Yuan
Jul.- Sept. 2011 Jul.- Sept. 2010
Items
Consolidation The Company Consolidation The Company
I. Total operating revenue 242,120,819.58 13,207,661.04 188,731,241.87 61,081,444.24
Including: Sales income 242,120,819.58 13,207,661.04 188,731,241.87 61,081,444.24
Interest income
Premium income
Handling charges and
commissions income
II. Total operating cost 211,653,234.88 14,094,182.62 175,354,012.11 51,362,184.33
Including: Operating cost 159,563,211.24 6,411,718.51 131,036,208.52 23,311,539.09
Interest cost
Service charges and
commission expenses
Payments on surrenders
Claim expenses-net
Provision for insurance contract
7
reserve-net
Insurance policy dividend paid
Reinsurance expense
Business taxes and surcharges 35,790,611.07 2,578,112.02 12,274,668.51 7,045,135.09
Selling expenses 2,552,854.55 99,776.46 3,260,686.82 17,828.60
Administrative expenses 14,791,327.12 6,512,902.70 15,004,833.40 5,751,782.46
Financial expenses -1,044,769.10 -1,508,327.07 13,777,614.86 15,235,899.09
Impairment loss 0.00 0.00
Add: gain/loss from changes in
-5,485.30 -5,485.30 -2,190.25 -2,190.25
fair value (“-” for loss)
Gain/loss from investment
30,596.18 5,383.40 98,280.43 98,280.43
(“-” for loss)
Including: investment
gain from associates and joint
ventures
Gain/loss from foreign
exchange difference (“-” for
loss)
III. Operation profit (“-” for
30,492,695.58 -886,623.48 13,473,319.94 9,815,350.09
loss)
Add: non-operating incomes 45,620.60 0.00 18,246.37
Less: non-operating expenses 6,508.90 2,000.00 50,644.27
Including: loss from disposal
26,700.50
of non-current assets
IV. Total profit (“-” for total
30,531,807.28 -888,623.48 13,440,922.04 9,815,350.09
loss)
Less: income tax expenses 8,085,616.39 445,284.87
V. Net profit (“-” for total loss) 22,446,190.89 -888,623.48 12,995,637.17 9,815,350.09
Attributable to owners of listed
22,396,801.90 -888,623.48 12,946,183.28 9,815,350.09
company
Minority interest 49,388.99 49,453.89
VI. Earnings per share
(1) Basic EPS 0.0221 0.0128
(2) Diluted EPS 0.0221 0.0128
VII. Other composite income 1,494,654.45 1,578,632.76 0.00
VIII. Total composite income 23,940,845.34 -888,623.48 14,574,269.93 9,815,350.09
Attributable to owners of listed
23,421,386.10 -888,623.48 14,524,816.04 9,815,350.09
company
Attributable to minority
519,459.24 49,453.89
shareholders
Where there were business combinations under the same control in the reporting
period, the combined parties achieved net profits of RMB 0.00 before the
combinations.
4.3 Income statement for Jan.-Sept. 2011
Prepared by: SHENZHEN Special Economic Zone Real Estate & Properties (Group) Co., Ltd
Jan.-Sept. 2011 Unit: (RMB) Yuan
Jan.- Sept. 2011 Jan.- Sept. 2010
Items
Consolidation The Company Consolidation The Company
I. Total operating revenue 796,040,623.55 69,381,098.13 707,557,933.94 217,122,116.69
8
Including: Sales income 796,040,623.55 69,381,098.13 707,557,933.94 217,122,116.69
Interest income
Premium income
Handling charges and
commissions income
II. Total operating cost 683,782,534.04 66,673,679.52 638,488,579.52 210,014,948.60
Including: Operating cost 541,262,724.67 31,881,465.03 469,522,178.86 95,799,802.08
Interest cost
Service charges and
commission expenses
Payments on surrenders
Claim expenses-net
Provision for insurance contract
reserve-net
Insurance policy dividend paid
Reinsurance expense
Business taxes and surcharges 85,109,084.35 11,878,802.00 67,886,702.53 42,835,653.97
Selling expenses 6,776,433.17 299,784.94 8,453,754.26 670,339.21
Administrative expenses 45,968,506.87 19,972,067.63 47,266,606.44 22,856,606.52
Financial expenses 4,665,784.98 2,641,559.92 45,359,337.43 47,852,546.82
Impairment loss
Add: gain/loss from changes in
19,993.75 19,993.75 -26,976.00 -26,976.00
fair value (“-” for loss)
Gain/loss from investment
91,195.41 -34,017.37 22,538,341.32 9,851,732.00
(“-” for loss)
Including: investment gain
12,586,609.32
from associates and joint ventures
Gain/loss from foreign
exchange difference (“-” for
loss)
III. Operating profit (“-” for
112,369,278.67 2,693,394.99 91,580,719.74 16,931,924.09
loss)
Add: non-operating incomes 1,183,641.61 995,716.90 141,546.09 90,862.40
Less: non-operating expenses 190,122.49 30,910.00 151,512.00
Including: loss from disposal
38,244.79 41,110.00
of non-current assets
IV. Total profit (“-” for total
113,362,797.79 3,658,201.89 91,570,753.83 17,022,786.49
loss)
Less: income tax expenses 26,634,173.30 14,434,115.38
V. Net profit (“-” for total loss) 86,728,624.49 3,658,201.89 77,136,638.45 17,022,786.49
Attributable to owners of parent
86,697,661.76 3,658,201.89 77,056,073.56 17,022,786.49
company
Minority interest 30,962.73 80,564.89
VI. Earnings per share
(1) Basic EPS 0.0857 0.0762
(2) Diluted EPS 0.0857 0.0762
VII. Other composite income 3,437,912.05 1,601,273.22
VIII. Total composite income 90,166,536.54 3,658,201.89 78,737,911.67 17,022,786.49
Attributable to owners of parent
89,082,526.28 3,658,201.89 78,657,346.78 17,022,786.49
company
9
Attributable to minority
1,084,010.26 80,564.89
shareholders
Where there were business combinations under the same control from the year-begin
to the period-end, the combined parties achieved net profits of RMB 0.00 before the
combinations.
4.4 Cash flow statement for Jan.-Sept. 2011
Prepared by: SHENZHEN Special Economic Zone Real Estate & Properties (Group) Co., Ltd
Jan.-Sept. 2011 Unit: (RMB) Yuan
Jan.- Sept. 2011 Jan.-Sept. 2010
Items
Consolidation The Company Consolidation The Company
I. Cash flow from operating
activities
Cash received from sales of
800,275,647.46 78,831,144.03 880,715,940.54 195,182,777.95
goods and rendering of services
Net increase in deposit from
customers and due from other
institutions
Net increase in borrowings
received from central bank
Net increase in loans from
other financial units
Cash received from premium of
original insurance contract
Net cash received from
reinsurance
Net increase in deposit from
customers and investments
Net increase in disposal of
transaction financial assets
Cash received from interests,
handling charges and
commissions
Net increase in inter-bank
borrowed funds
Net increase in cash received
under repurchasing
Refunds on tax
Other cash received from
54,674,542.89 123,249,787.25 106,513,588.23 373,609,186.81
operating activities
Sub-total of cash inflow from
854,950,190.35 202,080,931.28 987,229,528.77 568,791,964.76
operating activities
Cash paid for purchase of
488,929,051.18 65,684,509.66 986,625,409.46 603,774,638.23
goods and acceptation of service
Net increase in loans and
advances
Net increase of deposits in
central bank, banks and other
financial institutions
Cash paid for premium of
original insurance contract
Cash paid for interest, handling
charges and commissions
Cash paid for policy dividends
10
Cash paid to and for employees 90,372,640.81 28,498,782.65 67,214,608.81 24,530,630.50
Cash paid for various taxes and
89,254,865.36 17,367,581.97 78,459,202.03 37,386,809.63
fares
Other cash paid relating to
102,176,073.92 54,723,251.39 103,282,905.99 196,988,879.82
operating activities
Sub-total of cash outflows from
770,732,631.27 166,274,125.67 1,235,582,126.29 862,680,958.18
operating activities
Net cash flows from operating
84,217,559.08 35,806,805.61 -248,352,597.52 -293,888,993.42
activities
II. Cash flow from investing
activities
Cash received from investment
2,553,452.35 2,553,452.35
retractions
Cash received from investment
175,000.00 75,000.00 10,151,732.00 10,051,732.00
income
Net cash received from disposal
of fixed assets, intangible assets 46,960.00 41,110.00
and other long-term assets
Net cash received from disposal
of subsidiaries and other operating
units
Other cash received relating to
investing activities
Sub-total of cash inflows of
221,960.00 75,000.00 12,746,294.35 12,605,184.35
investing activities
Cash paid for acquiring fixed
assets, intangible assets and other 4,427,565.95 766,849.77 2,071,731.60 773,674.60
long-term assets
Cash paid for acquiring
159,240.00 159,240.00
investments
Net increase of pledge loans
Net cash paid for acquisition of
subsidiaries and other operating
units
Other cash paid to relating
investing activities
Sub-total of cash outflows of
4,427,565.95 766,849.77 2,230,971.60 932,914.60
investing activities
Net cash flow from
-4,205,605.95 -691,849.77 10,515,322.75 11,672,269.75
investing activities
III. Cash flows of financing
activities
Cash received from absorbing
investments
Including: Cash received from
minority shareholders of
subsidiaries
Cash received from borrowings 20,000,000.00 664,800,000.00 650,000,000.00
Cash received from bonds
issuing
Other cash received relating to
financing activities
Sub-total of cash inflows of
20,000,000.00 664,800,000.00 650,000,000.00
financing activities
Cash paid for settling debts 95,320,066.50 20,520,066.50 363,333,530.69 340,133,530.69
Cash paid for distribution of 51,246,252.40 38,717,621.21 40,092,880.32 27,498,914.32
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dividends or profits or
reimbursing interest
Including: dividends or profits
paid to minority shareholders by
subsidiaries
Other cash paid relating to
2,000,511.20 2,000,511.20
financing activities
Sub-total of cash outflows of
148,566,830.10 61,238,198.91 403,426,411.01 367,632,445.01
financing activities
Net cash outflows from
-128,566,830.10 -61,238,198.91 261,373,588.99 282,367,554.99
financing activities
IV. Effect of foreign exchange
rate changes on cash and cash -1,665,865.53 -616.01 -350,430.82 -145,143.34
equivalents
V. Net increase of cash and cash
-50,220,742.50 -26,123,859.08 23,185,883.40 5,687.98
equivalents
Add: cash and cash equivalents
379,720,636.21 191,108,590.15 386,102,533.51 73,508,120.37
at the beginning of this period
VI. Cash and cash equivalents at
329,499,893.71 164,984,731.07 409,288,416.91 73,513,808.35
period-end
4.5 Auditor’s report
Audit opinion: Unaudited
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