Shenzhen Nanshan Power Co., Ltd. Full-Text of First Quarterly Report 2011
Stock Code: 000037, 200037 No.: 2011-023
Short Form of Stock: Shen Nan Dian A, Shen Nan Dian B
Shenzhen Nanshan Power Co., Ltd.
The First Quarterly Report 2011
(Full-Text)
§1 Important Notice
1.1 The Board of Directors and Supervisory Committee of Shenzhen Nanshan Power Co., Ltd.
(hereinafter referred to as the Company) and its directors, supervisors and senior executives hereby
confirm that there are not any fictitious statements, misleading information and 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 Other directors attended the meeting on deliberating the Quarterly Report except for the
followed.
Name of Office title of
Name of
absent the absent Reason of absence
entrusted
directors directors
He Yingyi Director Due to business Sun Yulin
Independent
Yu Xiufeng Due to business Zhou Chengxin
Director
Independent
Xu Jing’an Due to business Zhou Chengxin
Director
Independent
Huang Sujian Due to business Wu Xiaolei
Director
1.3 The Financial Report For the 1st Quarterly Report of the Company has not been audited by
CPAs.
1.4 Chairman of the Board Mr. Yang Haixian, Director and General Manager Mr. Fu Bo, CFO Mr.
Lu Xiaoping and Director of Financial Department Mr. Huang Jian hereby confirm that the
Financial Report enclosed in the 1st Quarterly Report is true and complete.
§2 Company Profile
2.1 Main Accounting Data and Financial Indexes:
Unit: RMB
Changes of
At the end of the At the end of the last
increase/decrease
report period year
(%)
Total assets (RMB) 5,312,440,320.59 5,278,954,349.90 0.63%
Owners’ equity attributable to
shareholders of the listed company 1,656,003,054.77 1,735,842,488.46 -4.60%
(RMB)
Share capital (Share) 602,762,596.00 602,762,596.00 0.00%
Net asset per share attributable to
shareholders of listed company 2.75 2.88 -4.51%
(RMB/Share)
Changes of
The same period of
In the report period increase/decrease
last year
(%)
Total operating income (RMB) 454,988,479.87 277,528,735.50 63.94%
Net profit attributable to
shareholders of the listed company -79,839,433.69 -104,892,822.99 -23.88%
(RMB)
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Shenzhen Nanshan Power Co., Ltd. Full-Text of First Quarterly Report 2011
Net cash flow arising from operating
-11,164,998.07 76,633,143.08 -114.57%
activities (RMB)
Net cash flow arising from operating
-0.02 0.13 -115.38%
activities per share (RMB/Share)
Basic earnings per share
-0.13 -0.174 -23.53%
(RMB/Share)
Diluted earnings per share
-0.13 -0.174
(RMB/Share)
Weighted average return on equity
-3.16% -3.86% 0.70%
(%)
Weighted average return on equity
after deducting non-recurring gains -3.16% -3.87% 0.71%
and losses (%)
Items of non-recurring gains and losses
√ Applicable □ Inapplicable
Unit: RMB
Remarks (If
Items of non-recurring gains and losses Amount
applicable)
Other non-operating income and expenditure except
-33,846.41
for the aforementioned items
Total -33,846.41 -
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
47,855
at the end of report period
Particulars about the shares held by the top ten tradable shareholders with unrestricted conditions
Amount of tradable shares with
Full Name of shareholder unrestricted conditions held at Type of shares
the end of report period
SHENZHEN GUANGJU
ELECTRONIC INVESTMENT 100,769,712 RMB ordinary share
CO., LTD
HONG KONG NAM HOI Domestically listed foreign
92,123,248
(INTERNATIONAL) LIMITED share
SHENZHEN ENERGY GROUP
65,106,130 RMB ordinary share
CO., LTD.
Domestically listed foreign
Tengda Real Estate Co., Ltd. 49,426,518
share
STATE GRID SHENZHEN
ENERGY DEVELOPMENT 35,999,805 RMB ordinary share
GROUP CO., LTD.
Domestically listed foreign
YAN TIAN GONG 3,300,000
share
Domestically listed foreign
LI WEI PING 2,102,801
share
Goldbond Securities holdings Domestically listed foreign
1,500,000
Limited share
ZHANG SU FENG 1,481,976 RMB ordinary share
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Shenzhen Nanshan Power Co., Ltd. Full-Text of First Quarterly Report 2011
WU SHU HUA 1,400,000 RMB ordinary 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) Items in profit statement
Item Change scope Main reason
Decreased
Growth of the fuel cost and increase of
Operation profit RMB 84.039
the financial cost.
million
Income tax expense 1,390.46% Income tax withdrawn increased
Net profit attributable to Increased RMB
Subsidy income occurred increased
owners of parent company 25.0534 million
(2) Items in balance sheet
Item Change scope Main reason
-100% Clear off the note receivable of
Note receivable
period-begin
-57.59% Mainly due to the sludge drying project
Construction in process
transfer to fixed assets
138.98% The amount payable to suppliers for
Account payable
commodities increased.
Account received in -34.03% Projects amount received in advance
advance e have been carried forward to income
-35.16% Remuneration paid to the employees in
wages payable
the period.
(3) Items in cash flow statement
Item Change scope Main reason
Decreased
Net cash flow arising from
RMB 87.7981 Operational items payable increased.
operating activities
million
Decreased
Net cash flow arising from
RMB 2.3251 Cash paid for investment increased.
investment activities
million
Decreased
Net cash flow arising from Lower of the net financing amount,
RMB 109.4034
financing activities growth of the financial cost
million
3.2 Analysis and explanation of significant events and their influence and solutions
3.2.1 Particular about Qualified Opinion
√Applicable □Inapplicable
In 2010, Deloitte Touche Tohmatsu issued unqualified auditor’s report with emphasized events for
the Company. For progress of the events involved in the modified opinion in the report period, please
refer to notice (No.:2011－014) dated 15 April 2011.
3.2.2 Particular about fund offered to shareholder or its related parties by the Company and
external guarantee with procedure violation
□Applicable √Inapplicable
3.2.3 Particular about the significant contract of routine operation signed and implemented
□Applicable √Inapplicable
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Shenzhen Nanshan Power Co., Ltd. Full-Text of First Quarterly Report 2011
3.2.4 Other
√Applicable □Inapplicable
In the report period, pursuit to the requirement of Notice of Relevant Work on Pilot Standardized for
Internal Control of Listed Company in Shenzhen Areas (SZJGSZi [2011] No. 31) from Shenzhen
Securities Regulatory Bureau, the Company set-up a specific institution of the regulated internal
control. Furthermore, the Company determined the professional agency involved in the construction
of internal control system and risk evaluation by invitation biding on April 12. Relevant agreement
still in process of signing.
3.3 Implementations of commitments by the Company, shareholders and actual controller
Commitments make within the report period or persisted to the period by listed company and its
director, supervisor and senior executives, shareholder with over 5 percent shares held and its actual
controller
□Applicable √Inapplicable
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
3.5.2 Registration form for receiving research, communication and interview in the report
period
No investors’ field research, telephone communication and written inquiries are received in the
report period.
3.6 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 Nanshan Power Co., Ltd.
March 31, 2011 Unit: RMB
Balance at period-end Balance at year-begin
Items
Consolidation Parent Company Consolidation Parent Company
Current assets:
Monetary funds 514,995,676.93 162,680,951.84 601,386,814.04 269,369,131.18
Settlement
provisions
Capital lent
Transaction finance
asset
Notes receivable 700,000.00
Accounts receivable 644,342,738.22 361,530,081.63 518,392,276.69 277,107,630.12
Accounts paid in
11,048,604.90 323,458.71 13,529,901.89 455,623.51
advance
Insurance receivable
Reinsurance
receivables
Contract reserve of
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Shenzhen Nanshan Power Co., Ltd. Full-Text of First Quarterly Report 2011
reinsurance receivable
Interest receivable
Dividend receivable 597,875,904.41 597,875,904.41
Other receivables 22,485,037.80 905,337,790.06 20,450,149.23 894,247,309.68
Purchase restituted
finance asset
Inventories 1,339,078,026.66 168,416,709.18 1,352,372,212.06 166,594,071.43
Non-current asset
due within one year
Other current assets 4,242,431.37 330,000,000.00 4,242,431.37 393,003,940.43
Total current assets 2,536,192,515.88 2,526,164,895.83 2,511,073,785.28 2,598,653,610.76
Non-current assets:
Granted loans and
advances
Finance asset
available for sales
Held-to-maturity
investment
Long-term account
receivable
Long-term equity
337,361,117.06 836,843,966.82 306,208,274.30 796,731,124.06
investment
Investment real
5,204,059.15 5,308,769.98
estate
Fixed assets 2,260,256,093.77 300,077,516.60 2,169,226,270.73 316,444,713.69
Construction in
83,442,773.02 63,787,182.21 196,729,476.64 56,766,007.77
progress
Engineering
material
Disposal of fixed
-87,000.00
asset
Productive
biological asset
Oil and gas asset
Intangible assets 63,490,379.29 9,047,411.56 64,236,931.51 9,318,739.90
Expense on
Research and
Development
Goodwill
Long-term expenses
213,778.50 143,294.21 273,212.64 171,594.44
to be apportioned
Deferred income tax
4,624,405.14 4,624,405.14
asset
Other non-current
21,742,198.78 21,273,223.68
asset
Total non-current asset 2,776,247,804.71 1,209,899,371.40 2,767,880,564.62 1,179,432,179.86
Total assets 5,312,440,320.59 3,736,064,267.23 5,278,954,349.90 3,778,085,790.62
Current liabilities:
Short-term loans 3,143,000,000.00 2,191,600,000.00 3,112,400,000.00 2,218,000,000.00
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Shenzhen Nanshan Power Co., Ltd. Full-Text of First Quarterly Report 2011
Loan from central
bank
Absorbing deposit
and interbank deposit
Capital borrowed
Transaction
financial liabilities
Notes payable
Accounts payable 146,051,306.98 74,960,770.23 61,115,438.61 1,749,561.08
Accounts received
25,907,465.74 14,586,000.00 39,274,341.26 14,586,000.00
in advance
Selling financial
asset of repurchase
Commission charge
and commission payable
Wage payable 29,459,278.58 14,201,728.59 45,432,950.70 26,713,770.75
Taxes payable -474,919,988.10 -421,985,708.42 -501,193,418.09 -436,158,042.22
Interest payable 61,124,461.85 3,888,162.05 59,348,039.27 3,720,714.47
Dividend payable
Other accounts
294,928,410.71 492,438,585.32 288,768,647.34 490,528,945.93
payable
Reinsurance
payables
Insurance contract
reserve
Security trading of
agency
Security sales of
agency
Non-current
liabilities due within 1 50,000,000.00 50,000,000.00
year
Other current
liabilities
Total current liabilities 3,275,550,935.76 2,369,689,537.77 3,155,145,999.09 2,319,140,950.01
Non-current liabilities:
Long-term loans 186,000,000.00 186,000,000.00
Bonds payable
Long-term account
payable
Special accounts
payable
Projected liabilities
Deferred income tax
liabilities
Other non-current
5,350,000.00 5,350,000.00
liabilities
Total non-current
191,350,000.00 191,350,000.00
liabilities
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Shenzhen Nanshan Power Co., Ltd. Full-Text of First Quarterly Report 2011
Total liabilities 3,466,900,935.76 2,369,689,537.77 3,346,495,999.09 2,319,140,950.01
Owner’s equity (or
shareholders’ equity):
Paid-in capital (or
602,762,596.00 602,762,596.00 602,762,596.00 602,762,596.00
share capital)
Capital public
363,629,927.51 288,769,132.47 363,629,927.51 288,769,132.47
reserve
Less: Inventory shares
Reasonable reserve
Surplus public
332,908,397.60 332,908,397.60 332,908,397.60 332,908,397.60
reserve
Provision of general
risk
Retained profit 356,702,133.66 141,934,603.39 436,541,567.35 234,504,714.54
Balance difference
of foreign currency
translation
Total owner’s equity
attributable to parent 1,656,003,054.77 1,366,374,729.46 1,735,842,488.46 1,458,944,840.61
company
Minority interests 189,536,330.06 196,615,862.35
Minority interests 1,845,539,384.83 1,366,374,729.46 1,932,458,350.81 1,458,944,840.61
Total owner’s equity 5,312,440,320.59 3,736,064,267.23 5,278,954,349.90 3,778,085,790.62
4.2 Profit statement
Prepared by Shenzhen Nanshan Power Co., Ltd.
Jan.-Mar. 2011 Unit: RMB
Amount in this period Amount in last period
Items
Consolidation Parent Company Consolidation Parent Company
I. Total operating income 454,988,479.87 209,505,493.33 277,528,735.50 33,298,570.68
Including: Operating
454,988,479.87 277,528,735.50 33,298,570.68
income
Interest income
Insurance gained
Commission charge
and commission income
II. Total operating cost 702,178,453.15 367,542,200.83 457,407,856.92 63,090,017.83
Including: Operating cost 633,682,028.70 336,383,237.65 406,357,906.95 53,359,142.56
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
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Shenzhen Nanshan Power Co., Ltd. Full-Text of First Quarterly Report 2011
Reinsurance
expense
Operating tax and
1,031,640.79 738,487.20 1,242,606.72 804,922.86
extras
Sales expenses 208,486.26 286,000.43
Administration
24,381,992.12 11,652,589.23 22,564,681.76 1,730,318.91
expenses
Financial expenses 42,874,305.28 18,767,886.75 26,956,661.06 7,195,633.50
Losses of
devaluation of asset
Add: Changing income
of fair value(Loss is
listed with “-”)
Investment income
-16,728,157.24 -16,728,157.24
(Loss is listed with “-”)
Including:
Investment income on
-16,728,157.24 -16,728,157.24
affiliated company and
joint venture
Exchange income
(Loss is listed with “-”)
III. Operating profit
-263,918,130.52 -174,764,864.74 -179,879,121.42 -29,791,447.15
(Loss is listed with “-”)
Add: Non-operating
184,369,384.32 82,198,600.00 69,675,522.56
income
Less: Non-operating
33,846.41 3,846.41 31,650.00
expense
Including: Disposal
loss of non-current asset
IV. Total Profit (Loss is
-79,582,592.61 -92,570,111.15 -110,235,248.86 -29,791,447.15
listed with “-”)
Less: Income tax 7,336,373.37 492,222.27
V. Net profit (Net loss is
-86,918,965.98 -92,570,111.15 -110,727,471.13 -29,791,447.15
listed with “-”)
Net profit
attributable to owner’s -79,839,433.69 -92,570,111.15 -104,892,822.99 -29,791,447.15
equity of parent company
Minority
shareholders’ gains and -7,079,532.29 -5,834,648.14
losses
VI. Earnings per share
i. Basic earnings per
-0.13 -0.174
share
ii. Diluted earnings per
-0.13 -0.174
share
VII. Other consolidated
income
VIII. Total consolidated
-86,918,965.98 -92,570,111.15 -110,727,471.13 -29,791,447.15
income
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Shenzhen Nanshan Power Co., Ltd. Full-Text of First Quarterly Report 2011
Total consolidated
income attributable to
-79,839,433.69 -92,570,111.15 -104,892,822.99 -29,791,447.15
owners of parent
company
Total consolidated
income attributable to -7,079,532.29 -5,834,648.14
minority shareholders
Concerning the enterprise consolidation under common control occurred in the period; the mergered
party realized net profit before consolidation amounting to RMB00.00.
4.3 Cash flow statement
Prepared by Shenzhen Nanshan Power Co., Ltd.
Jan.-Mar. 2011 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 574,247,943.86 304,663,477.00 450,814,094.97 198,831,965.70
providing labor services
Net increase of
customer deposit and
interbank deposit
Net increase of loan
from central bank
Net increase of
capital borrowed from
other financial institution
Cash received from
original insurance
contract fee
Net cash received
from reinsurance
business
Net increase of
insured savings and
investment
Net increase of
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
8,057,298.00
received
Other cash received 8,223,931.53 195,327,306.37 26,901,522.98 123,365,702.42
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Shenzhen Nanshan Power Co., Ltd. Full-Text of First Quarterly Report 2011
concerning operating
activities
Subtotal of cash
inflow arising from 582,471,875.39 499,990,783.37 485,772,915.95 322,197,668.12
operating activities
Cash paid for
purchasing commodities
518,447,655.41 268,815,611.15 305,010,207.79 97,468,204.39
and receiving 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
35,301,493.20 21,862,044.10 26,693,167.46 12,978,130.88
staff and workers
Taxes paid 9,017,438.38 4,955,860.61 19,554,487.25 2,868,882.44
Other cash paid
concerning operating 30,870,286.47 189,612,325.59 57,881,910.37 92,881,261.14
activities
Subtotal of cash
outflow arising from 593,636,873.46 485,245,841.45 409,139,772.87 206,196,478.85
operating activities
Net cash flows
arising from operating -11,164,998.07 14,744,941.92 76,633,143.08 116,001,189.27
activities
II. Cash flows arising
from investing activities:
Cash received from
recovering investment
Cash received from
investment income
Net cash received
from disposal of fixed,
intangible and other
long-term assets
Net cash received
from disposal of
subsidiaries and other
units
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Shenzhen Nanshan Power Co., Ltd. Full-Text of First Quarterly Report 2011
Other cash received
concerning investing
activities
Subtotal of cash
inflow from investing
activities
Cash paid for
purchasing fixed,
9,417,997.99 6,519,918.93 17,658,898.44 13,519,535.81
intangible and other
long-term assets
Cash paid for
47,881,000.00 56,841,000.00 37,315,000.00 37,315,000.00
investment
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 57,298,997.99 63,360,918.93 54,973,898.44 50,834,535.81
activities
Net cash flows
arising from investing -57,298,997.99 -63,360,918.93 -54,973,898.44 -50,834,535.81
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
1,675,600,000.00 878,600,000.00 1,037,000,000.00 585,000,000.00
loans
Cash received from
issuing bonds
Other cash received
concerning financing
activities
Subtotal of cash
inflow from financing 1,675,600,000.00 878,600,000.00 1,037,000,000.00 585,000,000.00
activities
Cash paid for
1,645,000,000.00 905,000,000.00 909,120,000.00 509,000,000.00
settling debts
Cash paid for
48,525,552.51 31,672,098.44 36,402,196.32 19,232,287.87
dividend and profit
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Shenzhen Nanshan Power Co., Ltd. Full-Text of First Quarterly Report 2011
distributing or interest
paying
Including: Dividend
and profit of minority
shareholder paid by
subsidiaries
Other cash paid
concerning financing
activities
Subtotal of cash
outflow from financing 1,693,525,552.51 936,672,098.44 945,522,196.32 528,232,287.87
activities
Net cash flows
arising from financing -17,925,552.51 -58,072,098.44 91,477,803.68 56,767,712.13
activities
IV. Influence on cash and
cash equivalents due to
-1,588.54 -103.89
fluctuation in exchange
rate
V. Net increase of cash
-86,391,137.11 -106,688,179.34 113,137,048.32 121,934,365.59
and cash equivalents
Add: Balance of
cash and cash equivalents 591,386,814.04 269,369,131.18 356,362,100.63 35,564,935.05
at the period -begin
VI. Balance of cash and
cash equivalents at the 504,995,676.93 162,680,951.84 469,499,148.95 157,499,300.64
period -end
4.4 Auditor’s report
Auditor’s opinions: Un-audited
§5 Other submitted data
5.1 Statement of the non-operational capital occupation and payment by largest shareholder
and its affiliated
□Applicable √Inapplicable
5.2 Particular about external guarantee with regulation violation
□Applicable √Inapplicable
12
