深圳南山热电股份有限公司 2018 年第一季度报告全文 Shenzhen Nanshan Power Co., Ltd. The First Quarterly Report 2018 2018-016 April 2018 1 深圳南山热电股份有限公司 2018 年第一季度报告全文 Section I. Important Notes Board of Directors and the Supervisory Committee of Shenzhen Nanshan Power Co., Ltd. (hereinafter referred to as the Company) and its directors, supervisors and senior executives should guarantee the reality, accuracy and completion of the quarterly report, there are no any fictitious statements, misleading statements or important omissions carried in this report, and shall take legal responsibilities, individual and/or joint. Li Xinwei, person in charge of the Company, Director GM Chen Yuhui, person in charge of accounting works and CFO Dai Xiji as well as Wang Yi (act for the financial management dept.), person in charge of accounting organ (accounting officer) hereby confirm that the Financial Report of this Quarterly Report is authentic, accurate and complete. All Directors are attended the Board Meeting for Quarterly Report deliberation. Concerning the forward-looking statements with future planning involved in the Semi-Report, they do not constitute a substantial commitment for investors. Investors are advised to exercise caution of investment risks. The report has been prepared in both Chinese and English, for any discrepancies, the Chinese version shall prevail. Please read the full report seriously. 2 深圳南山热电股份有限公司 2018 年第一季度报告全文 Paraphrase Items Refers to Contents Company, the Company, Shen Nan Dian Refers to Shenzhen Nanshan Power Co., Ltd. Shen Nan Dian Zhongshan Company Refers to Shen Nan Dian (Zhongshan) Electric Power Co., Ltd. Shen Nan Dian Dongguan Company Refers to Shen Nan Dian (Dongguan) Weimei Electric Power Co., Ltd Shen Nan Dian Engineering Company Refers to Shenzhen Shennandian Turbine Engineering Technology Co., Ltd. Shen Nan Dian Envionment Protection Refers to Shenzhen Shen Nan Dian Envionment Protection Co., Ltd. Company Server Company Refers to Shenzhen Server Petrochemical Supplying Co., Ltd New Power Company Refers to Shenzhen New Power Industrial Co., Ltd. Singapore Company Refers to Shen Nan Energy (Singapore) Co., Ltd. Nanshan Power Factory Refers to Nanshan Power Factory of Shenzhen Nanshan Power Co., Ltd. Zhongshan Nam Long Power Plant of Shen Nan Dian (Zhongshan) Zhongshan Nam Long Power Plant Refers to Electric Power Co., Ltd. Dongguan Gaobu Power Plant of Shen Nan Dian (Dongguan) Weimei Dongguan Gaobu Power Plant Refers to Electric Power Co., Ltd Syndisome Company Refers to Hong Kong Syndisome Co., Ltd. NAM HOI Refers to HONG KONG NAM HOI (INTERNATIONAL) LTD. Shen Energy Group Refers to Shenzhen Energy Co., Ltd. Guangju Industrial Refers to Shenzhen Guangju Industrial Co., Ltd. CSRC Refers to China Securities Regulatory Commission Shenzhen Securities Regulatory Commission of China Securities Securities regulatory bureau Refers to Regulation Commission SZ Stock Exchange, Exchange Refers to Shenzhen Stock Exchange Company Law Refers to Company Law of The People’s Republic of China Securities Law Refers to Securities Law of The People’s Republic of China Stock Listing Rules Refers to Rules Governing the Listing of Stocks on Shenzhen Stock Exchange Articles of association Refers to Article of Association of Shenzhen Nanshan Power Co., Ltd. 3 深圳南山热电股份有限公司 2018 年第一季度报告全文 Except the special description of the monetary unit, rest of the monetary RMB, in 10 thousand Yuan, 100 Million Yuan Refers to unit is RMB Yuan, ten thousand Yuan, the 100 Million Yuan Reporting period Refers to 1 Jan. 2018 to 31 Mar. 2018 4 深圳南山热电股份有限公司 2018 年第一季度报告全文 Section II. Basic situation of the Company I. Main accounting data and financial indexes Whether it has retroactive adjustment or re-statement on previous accounting data □ Yes √No Changes of this period over Current Period Same period of last year same period of last year Operating income (RMB) 403,525,942.67 318,755,094.24 26.59% Net profit attributable to shareholders of -10,927,762.57 -27,388,861.07 -60.10% the listed company(RMB) Net profit attributable to shareholders of the listed company after deducting -11,221,495.07 -28,843,829.49 -61.10% non-recurring gains and losses(RMB) Net cash flow arising from operating -69,260,605.97 -213,153,838.55 -67.51% activities(RMB) Basic earnings per share (RMB/Share) -0.02 -0.05 -60.00% Diluted earnings per share (RMB/Share) -0.02 -0.05 -60.00% Weighted average ROE -0.57% -1.50% -62.00% Changes of this period-end At the end of the reporting At the end of last year over same period-end of last period year Total assets (RMB) 3,172,002,817.41 2,883,804,392.70 9.99% Net assets attributable to shareholder of 1,947,690,322.82 1,958,618,085.39 -0.56% listed company (RMB) Items of non-recurring gains and losses √ Applicable □ Not applicable In RMB Amount from year-begin to Item Note period-end Gains/losses from the disposal of non-current asset (including the -786,877.44 Scrap loss of fixed assets write-off that accrued for impairment of assets) Governmental grant reckoned into current gains/losses (not including the subsidy enjoyed in quota or ration according to Apportion of government grant 1,103,639.94 national standards, which are closely relevant to enterprise’s with assets concerned business) Other non-operating income and expenditure except for the -8,000.00 aforementioned items 5 深圳南山热电股份有限公司 2018 年第一季度报告全文 Less: impact on income tax -6,111.78 Impact on minority shareholders’ equity (post-tax) 21,141.78 Total 293,732.50 -- Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss, explain reasons □ Applicable √ Not applicable In reporting period, the Company has no particular about items defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss II. Total number of shareholders at the end of this report period and top ten shareholders 1. Total common and preferred stockholders with voting rights recover and the top ten share-holding In Share Total preferred stockholders Total common shareholders at the with voting rights recover at 33,019 0 end of report period the end of report period (if applicable) Top ten share-holding Amount of Number of share Nature of Proportion of Amount of Shareholder’s name restricted shares pledged/frozen shareholder shares held shares held held State of share Amount HONG KONG NAM HOI Overseas legal 15.28% 92,123,248 (INTERNATIONAL) LTD person Shenzhen Guangju Industrial Co., State-owned 12.22% 73,666,824 Ltd. legal person SHENZHEN ENERGY (GROUP) State-owned 10.80% 65,106,130 CO., LTD. legal person Overseas legal BOCI SECURITIES LIMITED 1.44% 8,690,627 person Domestic nature Liu Fang 1.23% 7,443,373 person China Merchants Securities H.K. Co., State-owned 1.14% 6,896,669 Ltd. legal person Domestic nature Zeng Ying 1.14% 6,878,096 person Meiyi Investment Property Co., Ltd. Domestic non 0.77% 4,615,800 6 深圳南山热电股份有限公司 2018 年第一季度报告全文 state legal person Domestic nature Zhang Heping 0.76% 4,590,300 person Domestic nature Li Baoqin 0.66% 3,970,300 person Top ten shareholders with unrestricted shares held Type of shares Shareholder’s name Amount of unrestricted shares held Type Amount Domestically HONG KONG NAM HOI 92,123,248 listed foreign 92,123,248 (INTERNATIONAL) LTD shares RMB common Shenzhen Guangju Industrial Co., Ltd. 73,666,824 73,666,824 shares RMB common SHENZHEN ENERGY (GROUP) CO., LTD. 65,106,130 65,106,130 shares Domestically BOCI SECURITIES LIMITED 8,690,627 listed foreign 8,690,627 shares RMB common 4,498,473 shares Liu Fang 7,443,373 Domestically listed foreign 2,944,900 shares Domestically China Merchants Securities H.K. Co., Ltd. 6,896,669 listed foreign 6,896,669 shares Domestically Zeng Ying 6,878,096 listed foreign 6,878,096 shares RMB common Meiyi Investment Property Co., Ltd. 4,615,800 4,615,800 shares RMB common 3,350,000 shares Zhang Heping 4,590,300 Domestically listed foreign 1,240,300 shares Domestically Li Baoqin 3,970,300 937,000 listed foreign 7 深圳南山热电股份有限公司 2018 年第一季度报告全文 shares Domestically listed foreign 3,033,300 shares 1. 100% equity of HONG KONG NAM HOI (INTERNATIONAL) LIMITED was Explanation on associated relationship among held by SHENZHEN ENERGY (GROUP) CO., LTD the aforesaid shareholders 2. Among other social public shareholders, the Company did not know whether there were associated relationships or belonging to consistent actors. Explanation on top 10 shareholders involving Among the top ten shareholders, Ms. Liu Fang holds 1,904,100 shares through margin business (if applicable) credit transaction guarantee securities account Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a buy-back agreement dealing in reporting period □ Yes √ No The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company have no buy-back agreement dealing in reporting period. 2. Total shareholders with preferred stock held and shares held by top ten shareholders with preferred stock held □ Applicable √ Not applicable 8 深圳南山热电股份有限公司 2018 年第一季度报告全文 Section III. Significant Events I. Particulars about material changes in items of main financial data and financial index and explanations of reasons √Applicable □Not applicable 1. Monetary fund has 689.2825 million Yuan at end of the period, an increase of 57.26% over that of period beginning, mainly due to the revenue from electricity sales increased and bank loans increased; 2. Note receivable has 700,000 Yuan at end of the period, a decrease of 89.56% over that of period beginning, mainly due to the decrease of note receivables; 3. Account receivable has 201.2928 million Yuan at end of the period, an increase of 77.59% over that of period beginning, mainly due to receivable of revenue from electricity sales increased; 4. Other account receivable has 44.3135 million Yuan at end of the period, an increase of 14.29% over that of period beginning, mainly due to the intercourse funds increased; 5. Construction in progress has 61.101million Yuan at end of the period, an increase of 19.90% over that of period beginning, mainly due to the technical reform expenditure increased; 6. Other non-current assets have 22.8822 million Yuan at end of the period, a decrease of 30.51% over that of period beginning, mainly because the account paid for construction and equipment in advance declined; 7. Short-term loans have 880.85 million Yuan at end of the period, an increase of 70.76% over that of period beginning, mainly because short-term loans from the bank increased; 8. Note payable has 0.00 Yuan at end of the period, a decrease of 100% over that of period beginning, mainly because the notes are due for payment; 9. Account payable has 11.3666 million Yuan at end of the period, a decrease of 24.70% over that of period beginning, mainly because the payable for natural gas declined; 10. Taxes payable has 13.5665 million Yuan at end of the period, a decrease of 12.12% over that of period beginning, mainly because the enterprise income tax for year of 2017 are paid in the period; 11. Interest payable have 3.4694 million Yuan at end of the period, an increase of 15.38% over that of period beginning, mainly because loans from the bank increased; 12. Operation revenue has 403.5259 million Yuan in the period, an increase of 26.59% on a y-o-y basis, mainly due to the revenue from electricity sales increased; 13. Operation cost has 385.0534 million Yuan in the period, an increase of 24.27% on a y-o-y basis, mainly because the costs increased with the soaring electricity generation; 14. Tax and surcharge has 2.0314 million Yuan in the period, an increase of 25.06% on a y-o-y basis, mainly because the VAT surcharge increased; 15. Sales expenses have 459,200 Yuan in the period, a decrease of 43.67% on a y-o-y basis, mainly because the sludge disposal fee declined; 16. Financial expenses have 10.2822 million Yuan in the period, a decrease of 43.11% on a y-o-y basis, mainly because the loans from the bank declined from a year earlier; 17. Non-operation revenue has 2000 Yuan in the period, a decrease of 99.87% on a y-o-y basis, mainly because according to the accounting standards after changed, current government grants are listed in other income for presentation; 9 深圳南山热电股份有限公司 2018 年第一季度报告全文 18. Non-operation expenditure has 796,900 Yuan in the period, an increase of 7061.43% on a y-o-y basis, mainly due to the scrapping losses from fixed assets; 19. Income tax expenses have 2.2483 million Yuan in the period, an increase of 648.75% on a y-o-y basis, mainly because the enterprise income tax are accrual in the period; 20. Net cash flow from operation activities have (69,260,600) Yuan in the period, a decrease of 67.51% on a y-o-y basis in net cash out-flow, mainly because the taxes paid declined; 21. Net cash flow from investment activities have (31,985,900) Yuan in the period, an increase of 30.74% on a y-o-y basis in net cash out-flow, mainly because the technical reform expenditure increased; 22. Net cash flow from financing activities has 367.9042 million Yuan in the period, an increase of 148.53% on a y-o-y basis in net cash in-flow, mainly due to the new loans from the bank II. Analysis and explanation of significant events and their influence and solutions √Applicable □Not applicable 1. Matters related to land parcel of No.T102-0011 and No. T102-0155. Before the date of this report, the Company has closely followed the comprehensive planning of Qianhai Shekou Free Trade Zone and the work development by relevant government authorities of Shenzhen. On 5 March 2018, immediately upon its notice of the public announcement available on the official website of Shenzhen Traffic Transportation Committee named “The Public Participation in Social Stability Risk Analysis in Connection with the Rapid Improvement Project of Yueliangwan Avenue”, the Company discussed with the special legal adviser engaged by it to draw the corresponding reply as per the requirements under the announcement, and submitted the same to the construction entity “Shenzhen Traffic Utility Construction Center” and the appraisal agency engaged to undertake the social stability risk assessment “Guizhou Traffic Planning Survey Design and Research Institute Co., Ltd.” prior to the prescribed deadline, to address its opinions and recommendation in respect of the material impact of the project construction over the Company and its subsidiaries. Besides, since there is no reply received by the Company in respect of its Objection Letter on the Comprehensive Planning of Qianhai Shekou Free Trade Zone submitted by the Company to the State Planning and Land Resources Committee of the Shenzhen Municipal on 10 August 2017, the Company therefore, on 13 April 2018, submitted to the State Planning and Land Resources Committee of the Shenzhen Municipal An Application of Shenzhen Nanshan Power for Change of the Comprehensive Planning of Qianhai Shekou Zone of China (Guangdong) Pilot Free Trade Zone to restate its position, in which the Company restated the potential impact on the Company that may be resulted from the Comprehensive Planning of Qianhai Shekou Zone of China (Guangdong) Pilot Free Trade Zone (“Planning”) with its opinions for change of part of the Planning that involved the Company’s land. The Company will continue to process the relevant works, closely follow the progress of the comprehensive planning of Qianhai Shekou Free Trade Zone and make its best to protect the shareholders and staff’s interests with participation and cooperation with its legal adviser. 2. Return of “technical reform beneficiary capital”. during the reporting period, the Company will continue to facilitate collection of the return of “technical reform beneficiary capital” and make proper communication and contact in relation thereto. However, no practical progress has been obtained. Save as disclosed above, there is no progress or change in transfer of No.7 and No. 9 machine sets, Guangdong and Xinjiang Assistance participated by the Company, the proposed application of register and issue of intermediate notes with aggregate amount not more than RMB500 million (RMB500 million included) from National Association of Financial Market Institutional Investors as well as the proposed non-public offering of corporate bonds with aggregate amount not more than RMB2.0 billion (RMB2.0 billion included) during the reporting period. 10 深圳南山热电股份有限公司 2018 年第一季度报告全文 III. Commitments completed in Period and those without completed till end of the Period from actual controller, shareholders, related parties, purchaser and companies □ Applicable √ Not applicable The Company has no commitments completed in Period and those without completed till end of the Period from actual controller, shareholders, related parties, purchaser and companies. IV. Predict of the business performance from January to June 2017 Warnings and reasons of the predict that the cumulative net profit from the begin of the year to the end of next report period may be loss or have great changes comparing with the same period of last year □Applicable √Not applicable V. Securities Investment □ Applicable √ Not applicable No security investment in Period. VI. Derivative investment □ Applicable √ Not applicable No derivative investment in the Period. VII. Registration form for receiving research, communication and interview in the report period √ Applicable □Not applicable Time Way Type Basic situation index of investigation Continuing operation of the Company and plan of future transformation & development; relevant 2018-3-28 Field research Individual (10) events of the lands of Nanshan Power Plant and development plans in the future and so on; no material acquired Continuing operation of the Company and plan of future transformation & development; relevant Telephone Individual (dozens of Jan.-Mar. 2018 events of the lands of Nanshan Power Plant and communication times) development plans in the future and so on; no material acquired Reply on interaction Continuing operation of the Company and plan of Jan.-Mar. 2018 Individual (23) easily future transformation & development; relevant 11 深圳南山热电股份有限公司 2018 年第一季度报告全文 events of the lands of Nanshan Power Plant and development plans in the future and so on; reply in written VIII. External security against the rules □ Applicable √ Not applicable The Company has no external security against the rules in the Period. IX. Controlling shareholders' and its related party's non-business capital occupying of the listed company □ Applicable √ Not applicable There are no controlling shareholders' and its related party's non-business capital occupying of the listed company. 12 深圳南山热电股份有限公司 2018 年第一季度报告全文 Section IV. Financial Statement I. Financial statement 1. Consolidate balance sheet Prepared by Shenzhen Nanshan Power Co., Ltd 2018-04-20 In RMB Items Closing Balance Opening Balance Current assets: Monetary funds 689,282,524.02 438,316,169.81 Settlement provisions Capital lent Financial assets measured by fair value and with variation reckoned into current gains/losses Derivative financial liability Notes receivable 700,000.00 6,702,500.00 Accounts receivable 201,292,751.19 113,349,775.76 Accounts paid in advance 107,589,222.55 119,069,891.55 Insurance receivable Reinsurance receivables Contract reserve of reinsurance receivable Interest receivable Dividend receivable Other receivables 44,313,537.27 38,771,888.74 Purchase restituted finance asset Inventories 77,898,359.11 77,834,903.89 Assets held for sale Non-current asset due within one year Other current assets 431,277,282.19 452,184,523.24 Total current assets 1,552,353,676.33 1,246,229,652.99 Non-current assets: 13 深圳南山热电股份有限公司 2018 年第一季度报告全文 Loans and payments on behalf Finance asset available for sales 60,615,000.00 60,615,000.00 Held-to-maturity investment Long-term account receivable Long-term equity investment 17,722,430.67 18,254,673.40 Investment property 2,753,405.91 2,802,440.31 Fixed assets 1,403,802,884.88 1,420,620,565.05 Construction in progress 61,100,968.84 50,958,741.92 Engineering material Disposal of fixed asset 1,314.60 Productive biological asset Oil and gas asset Intangible assets 47,848,917.75 48,470,500.60 Expense on Research and Development Goodwill Long-term expenses to be apportioned Deferred income tax asset 2,922,036.65 2,922,036.65 Other non-current asset 22,882,181.78 32,930,781.78 Total non-current asset 1,619,649,141.08 1,637,574,739.71 Total assets 3,172,002,817.41 2,883,804,392.70 Current liabilities: Short-term loans 880,850,000.00 515,850,000.00 Loan from central bank Absorbing deposit and interbank deposit Capital borrowed Financial liability measured by fair value and with variation reckoned into current gains/losses Derivative financial liability Notes payable 51,439,580.56 Accounts payable 11,366,571.95 15,094,912.60 Accounts received in advance Selling financial asset of repurchase Commission charge and 14 深圳南山热电股份有限公司 2018 年第一季度报告全文 commission payable Wage payable 44,630,077.46 48,337,588.25 Taxes payable 13,566,510.52 15,437,758.76 Interest payable 3,469,425.60 3,006,993.33 Dividend payable Other accounts payable 85,007,045.59 83,214,183.57 Reinsurance payables Insurance contract reserve Security trading of agency Security sales of agency Liability held for sale Non-current liabilities due within 1 30,400,000.00 32,400,000.00 year Other current liabilities Total current liabilities 1,069,289,631.12 764,781,017.07 Non-current liabilities: Long-term loans 25,940,000.00 25,940,000.00 Bonds payable Including: preferred stock Perpetual capital securities Long-term account payable Long-term wages payable Special accounts payable Projected liabilities 26,788,590.38 26,788,590.38 Deferred income 40,944,591.18 41,948,231.12 Deferred income tax liabilities Other non-current liabilities Total non-current liabilities 93,673,181.56 94,676,821.50 Total liabilities 1,162,962,812.68 859,457,838.57 Owner’s equity: Share capital 602,762,596.00 602,762,596.00 Other equity instrument Including: preferred stock Perpetual capital securities 15 深圳南山热电股份有限公司 2018 年第一季度报告全文 Capital public reserve 362,770,922.10 362,770,922.10 Less: Inventory shares Other comprehensive income Reasonable reserve Surplus public reserve 332,908,397.60 332,908,397.60 Provision of general risk Retained profit 649,248,407.12 660,176,169.69 Total owner’s equity attributable to 1,947,690,322.82 1,958,618,085.39 parent company Minority interests 61,349,681.91 65,728,468.74 Total owner’s equity 2,009,040,004.73 2,024,346,554.13 Total liabilities and owner’s equity 3,172,002,817.41 2,883,804,392.70 Legal Representative: President Li Xinwei Person in charge of accounting works: Director GM Chen Yuhui, CFO Dai Xiji Person in charge of accounting institute: Financial Manager Wang Yi (act for the financial management dept.) 2. Balance Sheet of Parent Company In RMB Item Closing balance Opening balance Current assets: Monetary funds 412,280,400.11 159,883,551.05 Financial assets measured by fair value and with variation reckoned into current gains/losses Derivative financial liability Notes receivable Accounts receivable 85,189,018.61 17,599,743.80 Account paid in advance 51,722,793.98 72,042,056.16 Interest receivable Dividends receivable Other receivables 929,099,175.15 913,646,990.47 Inventories 67,642,620.56 68,187,593.73 Assets held for sale Non-current assets maturing within 16 深圳南山热电股份有限公司 2018 年第一季度报告全文 one year Other current assets 389,251,386.96 406,616,846.60 Total current assets 1,935,185,395.37 1,637,976,781.81 Non-current assets: Available-for-sale financial assets 60,615,000.00 60,615,000.00 Held-to-maturity investments Long-term receivables Long-term equity investments 691,982,849.76 691,982,849.76 Investment property Fixed assets 229,721,706.99 220,519,962.58 Construction in progress 871,309.00 755,227.83 Project materials Disposal of fixed assets Productive biological assets Oil and natural gas assets Intangible assets 2,423,343.21 2,726,256.15 Research and development costs Goodwill Long-term deferred expenses Deferred income tax assets Other non-current assets 1,516,600.00 Total non-current assets 985,614,208.96 978,115,896.32 Total assets 2,920,799,604.33 2,616,092,678.13 Current liabilities: Short-term borrowings 380,000,000.00 50,000,000.00 Financial liability measured by fair value and with variation reckoned into current gains/losses Derivative financial liability Notes payable 38,863,779.64 Accounts payable 928,675.40 1,467,087.08 Accounts received in advance Wage payable 22,562,449.27 23,669,295.53 Taxes payable 3,527,634.17 5,703,576.67 Interest payable 552,027.08 175,740.00 17 深圳南山热电股份有限公司 2018 年第一季度报告全文 Dividend payable Other accounts payable 189,700,860.35 176,793,775.07 Liability held for sale Non-current liabilities due within 1 year Other current liabilities Total current liabilities 597,271,646.27 296,673,253.99 Non-current liabilities: Long-term loans Bonds payable Including: preferred stock Perpetual capital securities Long-term account payable Long-term wages payable Special accounts payable Projected liabilities Deferred income 23,003,332.62 23,665,762.95 Deferred income tax liabilities Other non-current liabilities Total non-current liabilities 23,003,332.62 23,665,762.95 Total liabilities 620,274,978.89 320,339,016.94 Owners’ equity: Share capita 602,762,596.00 602,762,596.00 Other equity instrument Including: preferred stock Perpetual capital securities Capital public reserve 289,963,039.70 289,963,039.70 Less: Inventory shares Other comprehensive income Reasonable reserve Surplus reserve 332,908,397.60 332,908,397.60 Retained profit 1,074,890,592.14 1,070,119,627.89 Total owner’s equity 2,300,524,625.44 2,295,753,661.19 18 深圳南山热电股份有限公司 2018 年第一季度报告全文 Total liabilities and owner’s equity 2,920,799,604.33 2,616,092,678.13 3. Consolidated Profit Statement In RMB Item Current Period Last Period I. Total operating income 403,525,942.67 318,755,094.24 Including: Operating income 403,525,942.67 318,755,094.24 Interest income Insurance gained Commission charge and commission income II. Total operating cost 416,971,883.63 353,161,278.27 Including: Operating cost 385,053,424.45 309,853,787.59 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 2,031,387.85 1,624,279.24 Sales expenses 459,156.87 815,174.84 Administration expenses 19,145,685.78 22,795,473.90 Financial expenses 10,282,228.68 18,072,562.70 Losses of devaluation of asset Add: Changing income of fair value(Loss is listed with “-”) Investment income (Loss is listed -532,242.73 -497,728.95 with “-”) Including: Investment income on affiliated company and joint venture Exchange income (Loss is listed with “-”) 19 深圳南山热电股份有限公司 2018 年第一季度报告全文 Assets disposal income (Loss is listed with “-”) Other income 1,714,804.83 III. Operating profit (Loss is listed with -12,263,378.86 -34,903,912.98 “-”) Add: Non-operating income 2,000.00 1,585,394.76 Less: Non-operating expense 796,877.44 11,127.35 Including: loss from non-current 786,877.44 1,127.35 assets damaged or scrap IV. Total Profit (Loss is listed with “-”) -13,058,256.30 -33,329,645.57 Less: Income tax expense 2,248,293.10 300,272.98 V. Net profit (Net loss is listed with “-”) -15,306,549.40 -33,629,918.55 (I) Continuous operation net profit (Net loss is listed with “-”) (II) Discontinued operation net profit (Net loss is listed with “-”) Net profit attributable to owner’s of -10,927,762.57 -27,388,861.07 parent company Minority shareholders’ gains and -4,378,786.83 -6,241,057.48 losses VI. Net after-tax of other comprehensive income Net after-tax of other comprehensive income attributable to owners of parent company (I) Other comprehensive income items which will not be reclassified subsequently to profit of loss 1. Changes as a result of re-measurement of net defined benefit plan liability or asset 2. Share of the other comprehensive income of the investee accounted for using equity method which will not be reclassified subsequently to profit and loss (II) Other comprehensive income items which will be reclassified subsequently to profit or loss 20 深圳南山热电股份有限公司 2018 年第一季度报告全文 1. Share of the other comprehensive income of the investee accounted for using equity method which will be reclassified subsequently to profit or loss 2. Gains or losses arising from changes in fair value of available-for-sale financial assets 3. Gains or losses arising from reclassification of held-to-maturity investment as available-for-sale financial assets 4. The effect hedging portion of gains or losses arising from cash flow hedging instruments 5. Translation differences arising on translation of foreign currency financial statements 6. Other Net after-tax of other comprehensive income attributable to minority shareholders VII. Total comprehensive income -15,306,549.40 -33,629,918.55 Total comprehensive income -10,927,762.57 -27,388,861.07 attributable to owners of parent Company Total comprehensive income -4,378,786.83 -6,241,057.48 attributable to minority shareholders VIII. Earnings per share: (i) Basic earnings per share -0.02 -0.05 (ii) Diluted earnings per share -0.02 -0.05 Enterprise combine under the same control in the Period, the combined party realized net profit of 0 Yuan before combination, and realized 0 Yuan at last period for combined party Legal Representative: President Li Xinwei Person in charge of accounting works: Director GM Chen Yuhui, CFO Dai Xiji Person in charge of accounting institute: Financial Manager Wang Yi (act for the financial management dept.) 4. Profit Statement of Parent Company In RMB 21 深圳南山热电股份有限公司 2018 年第一季度报告全文 Item Current Period Last Period I. Operating income 165,304,888.90 129,531,789.50 Less: Operating cost 155,632,212.68 139,882,897.99 Operating tax and extras 178,168.35 318,215.05 Sales expenses Administration expenses 9,385,988.12 12,669,948.85 Financial expenses -6,277,213.03 -3,162,126.45 Losses of devaluation of asset Add: Changing income of fair value(Loss is listed with “-”) Investment income (Loss is listed with “-”) Including: Investment income on affiliated company and joint venture Assets disposal income (Loss is listed with “-”) Other income 762,430.33 II. Operating profit (Loss is listed 7,148,163.11 -20,177,145.94 with “-”) Add: Non-operating income 858,110.33 Less: Non-operating expense 786,877.44 Including: loss from non-current 786,877.44 assets damaged or scrap III. Total Profit (Loss is listed with 6,361,285.67 -19,319,035.61 “-”) Less: Income tax expense 1,590,321.42 IV. Net profit (Net loss is listed with 4,770,964.25 -19,319,035.61 “-”) (I) Continuous operation net profit (Net loss is listed with “-”) (II) Discontinued operation net profit (Net loss is listed with “-”) V. Net after-tax of other comprehensive income (I) Other comprehensive income items which will not be reclassified subsequently to profit of loss 22 深圳南山热电股份有限公司 2018 年第一季度报告全文 1. Changes as a result of re-measurement of net defined benefit plan liability or asset 2. Share of the other comprehensive income of the investee accounted for using equity method which will not be reclassified subsequently to profit and loss (II) Other comprehensive income items which will be reclassified subsequently to profit or loss 1. Share of the other comprehensive income of the investee accounted for using equity method which will be reclassified subsequently to profit or loss 2. Gains or losses arising from changes in fair value of available-for-sale financial assets 3. Gains or losses arising from reclassification of held-to-maturity investment as available-for-sale financial assets 4. The effect hedging portion of gains or losses arising from cash flow hedging instruments 5. Translation differences arising on translation of foreign currency financial statements 6. Other VI. Total comprehensive income 4,770,964.25 -19,319,035.61 VII. Earnings per share: (i) Basic earnings per share (ii) Diluted earnings per share 5. Consolidated Cash Flow Statement In RMB Item Current Period Last Period I. Cash flows arising from operating activities: 23 深圳南山热电股份有限公司 2018 年第一季度报告全文 Cash received from selling commodities and providing labor 389,122,193.60 335,696,983.79 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 amount from disposal financial assets that measured by fair value and with variation reckoned into current gains/losses Cash received from interest, commission charge and commission Net increase of capital borrowed Net increase of returned business capital Write-back of tax received 620,709.11 788,829.24 Other cash received concerning 2,172,748.21 8,927,278.01 operating activities Subtotal of cash inflow arising from 391,915,650.92 345,413,091.04 operating activities Cash paid for purchasing commodities and receiving labor 394,654,009.46 345,329,535.67 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 24 深圳南山热电股份有限公司 2018 年第一季度报告全文 charge and commission Cash paid for bonus of guarantee slip Cash paid to/for staff and workers 34,455,664.92 31,892,059.46 Taxes paid 22,451,695.31 172,293,260.97 Other cash paid concerning 9,614,887.20 9,052,073.49 operating activities Subtotal of cash outflow arising from 461,176,256.89 558,566,929.59 operating activities Net cash flows arising from operating -69,260,605.97 -213,153,838.55 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 262,500.00 assets Net cash received from disposal of subsidiaries and other units Other cash received concerning investing activities Subtotal of cash inflow from investing 262,500.00 activities Cash paid for purchasing fixed, 32,248,431.89 24,466,180.89 intangible and other long-term assets Cash paid for investment Net increase of mortgaged loans Net cash received from subsidiaries and other units obtained Other cash paid concerning investing activities Subtotal of cash outflow from investing 32,248,431.89 24,466,180.89 activities Net cash flows arising from investing -31,985,931.89 -24,466,180.89 activities 25 深圳南山热电股份有限公司 2018 年第一季度报告全文 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 530,000,000.00 101,780,000.00 Cash received from issuing bonds Other cash received concerning 15,460,000.00 financing activities Subtotal of cash inflow from financing 545,460,000.00 101,780,000.00 activities Cash paid for settling debts 167,000,000.00 838,680,000.00 Cash paid for dividend and profit 10,555,809.13 21,262,275.18 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 177,555,809.13 859,942,275.18 financing activities Net cash flows arising from financing 367,904,190.87 -758,162,275.18 activities IV. Influence on cash and cash equivalents due to fluctuation in -231,298.80 -29,080.94 exchange rate V. Net increase of cash and cash 266,426,354.21 -995,811,375.56 equivalents Add: Balance of cash and cash 411,613,377.07 1,389,482,327.86 equivalents at the period -begin VI. Balance of cash and cash 678,039,731.28 393,670,952.30 equivalents at the period -end 6. Cash Flow Statement of Parent Company In RMB Item Current Period Last Period 26 深圳南山热电股份有限公司 2018 年第一季度报告全文 I. Cash flows arising from operating activities: Cash received from selling commodities and providing labor 165,849,848.40 137,934,652.20 services Write-back of tax received Other cash received concerning 892,094.12 79,010,430.35 operating activities Subtotal of cash inflow arising from 166,741,942.52 216,945,082.55 operating activities Cash paid for purchasing commodities and receiving labor 164,618,568.76 231,703,840.65 service Cash paid to/for staff and workers 19,415,113.07 19,566,413.11 Taxes paid 6,308,794.09 162,249,279.59 Other cash paid concerning 22,699,771.73 33,403,433.62 operating activities Subtotal of cash outflow arising from 213,042,247.65 446,922,966.97 operating activities Net cash flows arising from operating -46,300,305.13 -229,977,884.42 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 262,500.00 assets Net cash received from disposal of subsidiaries and other units Other cash received concerning investing activities Subtotal of cash inflow from investing 262,500.00 activities Cash paid for purchasing fixed, 28,368,843.96 35,792.00 intangible and other long-term assets 27 深圳南山热电股份有限公司 2018 年第一季度报告全文 Cash paid for investment Net cash received from subsidiaries and other units Other cash paid concerning investing activities Subtotal of cash outflow from investing 28,368,843.96 35,792.00 activities Net cash flows arising from investing -28,106,343.96 -35,792.00 activities III. Cash flows arising from financing activities Cash received from absorbing investment Cash received from loans 360,000,000.00 Cash received from issuing bonds Other cash received concerning 11,660,000.00 financing activities Subtotal of cash inflow from financing 371,660,000.00 activities Cash paid for settling debts 30,000,000.00 680,500,000.00 Cash paid for dividend and profit 3,194,917.92 11,108,786.09 distributing or interest paying Other cash paid concerning financing activities Subtotal of cash outflow from 33,194,917.92 691,608,786.09 financing activities Net cash flows arising from financing 338,465,082.08 -691,608,786.09 activities IV. Influence on cash and cash equivalents due to fluctuation in -1,583.93 -198.86 exchange rate V. Net increase of cash and cash 264,056,849.06 -921,622,661.37 equivalents Add: Balance of cash and cash 148,223,551.05 1,119,323,850.36 equivalents at the period -begin VI. Balance of cash and cash 412,280,400.11 197,701,188.99 equivalents at the period -end 28 深圳南山热电股份有限公司 2018 年第一季度报告全文 II. Audit report Whether the 1st quarterly report has been audited or not □Yes √ No 1Q report of the Company is unaudited. 29