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深南电B:2019年第一季度报告全文(英文版)2019-04-23  

						                         深圳南山热电股份有限公司 2019 年第一季度报告全文




Shenzhen Nanshan Power Co., Ltd.
 The First Quarterly Report 2019
              2019-021




            April 2019




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                                              深圳南山热电股份有限公司 2019 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.




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                                                                    深圳南山热电股份有限公司 2019 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.

HUAENG International                            Refers to   HUAENG Power International Inc

                                                Refers to   State-owned Assets Supervision and Administration Committee of
SASAC of Shenzhen
                                                            Shenzhen People’s Government

SZ Capital                                      Refers to   Shenzhen Capital Co., Ltd.

NAM HOI                                         Refers to   HONG KONG NAM HOI (INTERNATIONAL) LTD.

Shenzhen Energy Group                           Refers to   Shenzhen Energy Group Co., Ltd.
Articles of association                      Refers to      Article of Association of Shenzhen Nanshan Power Co., Ltd.

                                                            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. 2019 to 31 Mar. 2019




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                           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)                                      152,975,230.74                403,525,942.67                         -62.09%
Net profit attributable to shareholders of
                                                            -28,373,168.62                -10,927,762.57                         159.64%
the listed company(RMB)
Net profit attributable to shareholders of
the listed company after deducting                          -28,916,498.43                -11,221,495.07                         157.69%
non-recurring gains and losses(RMB)
Net cash flow arising from operating
                                                             -4,897,654.96                -69,260,605.97                         -92.93%
activities(RMB)

Basic earnings per share (RMB/Share)                                  -0.05                           -0.02                      150.00%
Diluted earnings per share (RMB/Share)                                -0.05                           -0.02                      150.00%

Weighted average ROE                                                 -1.47%                       -0.57%                         157.89%

                                                                                                              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)                                        3,161,675,892.68              3,307,148,289.92                           -4.40%
Net assets attributable to shareholder of
                                                          1,949,498,682.89              1,977,871,851.51                           -1.43%
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
                                                                                        -402,738.25 Income from fixed assets disposal
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
                                                                                         843,139.16
national standards, which are closely relevant to enterprise’s                                       with assets concerned
business)

Other non-operating income and expenditure except for the                                             Income from waste material
                                                                                          79,297.63
aforementioned items                                                                                  disposal



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Less: impact on income tax                                                                    8,648.95

        Impact on minority shareholders’ equity (post-tax)                                 -32,280.22

Total                                                                                       543,329.81                  --

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 with
Total common shareholders at the
                                                   32,518 voting rights recover at the end of                                             0
end of report period
                                                            report period (if applicable)

                                                           Top ten share-holding
                                                                                   Amount of
  Shareholder’s         Nature of         Proportion of    Amount of shares                             Number of share pledged/frozen
                                                                                restricted shares
        name            shareholder         shares held            held                              State of share          Amount
                                                                                       held

HONG KONG
NAM HOI                Overseas legal
                                             15.28%             92,123,248
(INTERNATION              person
AL) LTD.

Shenzhen
Guangju             State-owned legal
                                             12.22%             73,666,824
Industrial Co.,           person
Ltd.

SHENZHEN
ENERGY              State-owned legal
                                             10.80%             65,106,130
(GROUP) CO.,              person
LTD.

Gaohua-HSBC
-GOLDMAN,             Overseas legal
                                              1.62%             9,769,723
SACHS &                   person
CO.LLC

BOCI                   Overseas legal         1.50%             9,025,627


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SECURITIES             person
LIMITED

                  Domestic nature
Zeng Ying                               1.26%             7,595,000
                       person

China Merchants
                  State-owned legal
Securities H.K.                         1.24%             7,495,058
                       person
Co., Ltd.

                  Domestic nature
Liu Fang                                0.90%             5,425,488
                       person

LI SHERYN          Foreign nature
                                        0.67%             4,025,000
ZHAN MING              person

                  Domestic nature
Zhu Wen                                 0.65%             3,929,900
                       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

Shenzhen Guangju Industrial Co.,                                                              RMB common
                                                                               73,666,824                                  73,666,824
Ltd.                                                                                          shares

SHENZHEN ENERGY (GROUP)                                                                       RMB common
                                                                               65,106,130                                  65,106,130
CO., LTD.                                                                                     shares

Gaohua-HSBC-GOLDMAN,                                                                        RMB common
                                                                                  9,769,723                                 9,769,723
SACHS & CO.LLC                                                                                shares

                                                                                              Domestically
BOCI SECURITIES LIMITED                                                           9,025,627 listed foreign                  9,025,627
                                                                                              shares

                                                                                              Domestically
Zeng Ying                                                                         7,595,000 listed foreign                  7,595,000
                                                                                              shares

                                                                                              Domestically
China Merchants Securities H.K.
                                                                                  7,495,058 listed foreign                  7,495,058
Co., Ltd.
                                                                                              shares

                                                                                              RMB common
                                                                                                                            2,364,688
                                                                                              shares
Liu Fang                                                                          5,425,488 Domestically

                                                                                              listed foreign                3,060,800
                                                                                              shares



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                                                                                                Domestically
LI SHERYN ZHAN MING                                                                 4,025,000 listed foreign           4,025,000
                                                                                                shares

                                                                                                RMB common
Zhu Wen                                                                             3,929,900                          3,929,900
                                                                                                shares

                                     1. 100% equity of HONG KONG NAM HOI (INTERNATIONAL) LIMITED was held by
Explanation on associated
                                     SHENZHEN ENERGY (GROUP) CO., LTD
relationship among the aforesaid
                                     2. Among other social public shareholders, the Company did not know whether there were
shareholders
                                     associated relationships or belonging to consistent actors.

Explanation on top 10 shareholders   1. Among the top ten shareholders, Ms. Liu Fang holds 2,346,688 shares through credit
involving margin business (if        transaction guarantee securities account; 2. Among the top ten shareholders, Mr. Zhu Wen
applicable)                          holds 3,929,900 shares through 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




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                                         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 789.0103 million Yuan at end of the period, a decrease of 14.78% over that of period beginning, mainly due to
the loans paid to the bank;
2. Note receivable and account receivable have 138.2623 million yuan at end of the period, an increase of 4.4% over that of period
beginning, mainly because note receivable increased in the period;
3. Account paid in advance has 48.3541 million Yuan at end of the period, a decrease of 9.88% over that of period beginning, mainly
because the account paid in advance for nature gas declined;
4. Other account receivable has 38.0521 million Yuan at end of the period, a decrease of 5.19% over that of period beginning, mainly
because current account declined;
5. Construction in progress has 63.2925 million Yuan at end of the period, a decrease of 23.14% over that of period beginning,
mainly because the project for technical improvement completed and transfer to fixed assets;
6.Ending balance of long-term pending expenses amounted as 451000 yuan with 100 percent up over that of year-beginning, mainly
due to the increase of decoration expenses for exhibition in the period;
7. Other non-current assets has 22.8822 million Yuan at end of the period, a decrease of 8.12% over that of period beginning, mainly
because account paid in advance for engineering and equipment declined;
8. Short-term loan has 900 million Yuan at end of the period, a decrease of 10.00% over that of period beginning, mainly because
bank loans declined;
9. Note payable and account payable has 21.7694 million Yuan at end of the period, an increase of 20.50% over that of period
beginning, mainly because account payable for nature gas increased;
10. Taxes payable has 11.8498 million Yuan at end of the period, a decrease of 25.94% over that of period beginning, mainly because
enterprise income tax for year of 2018 are paid in the period;
11. Operation revenue has 152.9752 million Yuan in the period, a decrease of 62.09% from a year earlier, mainly because sales of
electricity revenue declined for the decline of power generation;
12. Operation cost has 159.1116 million Yuan in the period, a decrease of 58.68% from a year earlier, mainly because cost of power
generation declined for the decline of power generation;
13. Tax and surcharge has 1.3876 million Yuan in the period, a decrease of 31.69% from a year earlier, mainly because the surcharge
for VAT decreased;
14. Sales expense has 1.0538 million Yuan in the period, an increase of 129.51% from a year earlier, mainly because sludge disposal
fee increased;
15. Financial expense has 4.9192 million Yuan in the period, a decrease of 52.16% from a year earlier, mainly because interest
income from the bank increased;
16. Income from assets disposal has -402,700 Yuan in the period, a decrease of 100% from a year earlier, mainly because loss from
fixed assets disposal increased;
17. Non-operation revenue has 104500 Yuan in the period, an increase of 5,124.29% from a year earlier, mainly because income from
disposal of waste materials increased;


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18. Non-operation expenditure has 25200 Yuan in the period, a decrease of 96.84% from a year earlier, mainly because loss from
fixed assets discharge declined in the year;
19. Income tax expense has 973600 Yuan in the period, a decrease of 56.70% from a year earlier, mainly because the enterprise
income tax accrual in the year declined due to the total profit decreased on a y-o-y basis.;
20. Net cash flow arising from operation activity has -4.8977 million Yuan in the period, a decrease of 92.93% from a year earlier in
net out-flow, mainly because account paid for nature gas decreased and taxes paid are declined etc.;
21. Net cash flow arising from investment activity has -14.6956 million Yuan in the period, a decrease of 54.06% from a year earlier
in net out-flow, mainly because fixed assets purchase and expenditure for technical improvement declined;
22. Net cash flow arising from financing activity has -114.9606 million Yuan in the period, a decrease of 131.25% from a year earlier
in net in-flow, mainly because net in-flow from bank loans declined .


II. Analysis and explanation of significant events and their influence and solutions

√Applicable     □Not applicable

1. Free transfer of state-owned shares held by major shareholder of the Company Shenzhen Energy Group. Due
to the 75% shares held by major shareholder of the Company Shenzhen Energy Group, are plans to transfer to
SZ Capital for free by Shenzhen SASAC, according to the Notice from Shenzhen Energy Group and being
apply to Shenzhen Stock Exchange, stock of the Company will suspend since 18 Feb. 2019, and continued to
suspend since 20 Feb. 2019 and resumption since 21 Feb. 2019; on 1 March 2019, Shenzhen SASAC entered
into an Free Transfer of State-owned Shares of Shenzhen Energy Group with SZ Capital, the 75% shares of
Shenzhen Energy Group will transfer to SZ Capital for free; on 8 April 2019, the above mentioned state-owned
shares transfer has completed the registration changed in industrial and commerce bureau, and obtained the
Notice of Change (Filing) from Shenzhen Market Supervision and Administration. Before the state-owned
transferred, 65,106,130 (A-share) shares are directly held by Shenzhen Energy Group, a 10.80% in total share
capital of the Company, and 92,123,248 (B-share) shares are indirectly held with 15.28% takes, totally
157,229,378 shares of the Company are held by Shenzhen Energy Group, a 26.08% in total share capital. After
the state-owned shares transfer, SZ Capital comes to the controlling shareholder of Shenzhen Energy Group
with 75% shares held, Shenzhen Energy Group still is the first largest shareholder of the Company. The
Company did not have controlling shareholder and actual controller either.(found more in Notice of Suspension
for Major Events, Continue Suspension and Progress of Major Events, Progress of Major Events and
Resumption, A Prompt Notice on Free Transfer of Major Shareholder’s State-Owned Shares, Detail Report on
Changes in Equity and Notice on Completion of Registration of Industrial and Commercial Changes by Free
Transfer of State-owned Shares of major shareholders released on China Securities Jornal, Securities Times,
Hong Kong Commercial Daily and Juchao Website with Notice No as 2019—001, 2019—002, 2019—003,
2019—005 and 2019—016)
2. Project of ‘Shenzhen Blue” Technical Improvement: in reporting period, the Company continues to
promoted the technical improvement of “Shenzhen Blue”. and on 15 March 2019, the upgrading of low
nitrogen burner of the last one 9E gas genset in Nanshan Power Plant has been completed, after improvement,
the nitrogen oxide emission value superior to the government requirements as 15mg/m3, thus, the upgrading
and improvement work of “Shenzhen Blue” has been successfully completed. The Company will actively
follow up implementation of government subsidy.
Except for the above mentioned, the projects as Guangdong Aid to Xingjiang participated in 2013, the benefit
fund of the technical improvement, collection work for funds refundable, and relevant works of T102-0011 and
T102-0155 lands are no have progress in the reporting period.

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Implementation progress of shares buy-back
□ Applicable     √ Not applicable

Implementation progress of the reduction of repurchases shares by centralized bidding
□ Applicable √ Not applicable


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

         2019-02-22                       Field research          Individual (2)        Search the register of shareholders

         2019-03-05                       Field research          Individual (9)        Search the register of shareholders

         2019-03-19                       Field research          Individual (3)        Search the register of shareholders

         2019-03-26                       Field research          Individual (6)        Search the register of shareholders

                                                                                          Continuing operation of the Company,
       Jan.-Mar. 2019               Reply on interaction easily   Individual (5)
                                                                                          events of lands of Nanshan Power Plant



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                                                                                            and numbers of shareholders etc., reply
                                                                                            in written

                                                                                            Continuing operation of the Company,
       Jan.-Mar. 2019           Telephone communication          Individual (times)       events of lands of Nanshan Power Plant,
                                                                                            no material acquired


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.




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                                          Section IV. Financial Statement

I. Financial statement

1. Consolidate balance sheet

Prepared by Shenzhen Nanshan Power Co., Ltd
                                                                                                                In RMB

                     Items                            2019-3-31                             2018-12-31

Current assets:

     Monetary fund                                                789,010,297.84                         925,829,404.44

     Settlement provisions

     Capital lent

     Transactional financial assets

     Financial assets measured by fair
value and with variation reckoned into
current gains/losses

     Derivative financial assets

     Note receivable and account
                                                                  138,262,279.36                         132,430,024.97
receivable

         Including: Notes receivable                                1,500,000.00

                  Accounts receivable                             136,762,279.36                         132,430,024.97

     Account paid in advance                                       48,354,119.27                          53,655,777.12

     Insurance receivable

     Reinsurance receivables

     Contract reserve of reinsurance
receivable

     Other account receivable                                      38,052,060.78                          40,133,297.74

         Including: Interest receivable

                  Dividends receivable

     Buying back the sale of financial
assets

     Inventories                                                  118,190,324.28                         124,758,334.97

     Contractual assets

     Assets held for sale



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     Non-current assets maturing within
one year

     Other current assets                     389,472,247.51                      390,108,844.11

Total current assets                         1,521,341,329.04                   1,666,915,683.35

Non-current assets:

     Loans and payments on behalf

     Debt investment

     Available-for-sale financial assets       60,615,000.00                       60,615,000.00

     Other debt investment

     Held-to-maturity investments

     Long-term receivables

     Long-term equity investments              15,617,291.85                       16,049,044.95

     Investment in other equity instrument

     Other non-current financial assets

     Investment real estate                     2,557,268.31                        2,606,302.71

     Fixed assets                            1,427,480,166.98                   1,405,649,989.24

     Construction in progress                  63,292,505.54                       82,348,008.39

     Productive biological assets

     Oil and natural gas assets

     Right-of-use assets

      Intangible assets                        45,367,848.72                       45,987,255.24

     Research and development costs

     Goodwill

     Long-term deferred expenses                  450,976.20

     Deferred income tax assets                 2,071,324.26                        2,071,324.26

     Other non-current assets                  22,882,181.78                       24,905,681.78

Total non-current assets                     1,640,334,563.64                   1,640,232,606.57

Total assets                                 3,161,675,892.68                   3,307,148,289.92

Current liabilities

     Short-term borrowings                    900,000,000.00                    1,000,000,000.00

     Loan from central bank

     Capital borrowed

     Transactional financial liability

     Financial liability measured by fair
value and with variation reckoned into


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current gains/losses

       Derivative financial liability

       Notes payable & account payable            21,769,447.66                       18,065,898.69

       Accounts received in advance

       Selling financial asset of repurchase

       Absorbing deposit and interbank
deposits

       Agent buying and selling securities

       Acting underwriting securities

       Wage payable                               40,699,716.19                       44,912,599.66

       Taxes payable                              11,849,758.95                       16,000,039.55

       Other accounts payable                     61,532,763.02                       63,091,881.43

         Including: Interest payable               1,135,362.09                        1,608,290.72

                 Dividend payable

       Handling fees and commissions
payable

       Reinsurance payable

       Contractual liability

       Liability held for sale

       Non-current liabilities due within one
year

       Other current liabilities

Total current liabilities                       1,035,851,685.82                   1,142,070,419.33

Non-current liabilities:

       Insurance contract reserve

       Long-term loans                            21,940,000.00                       25,940,000.00

       Bonds payable

         Including: preferred stock

                 Perpetual capital securities

       Lease liability

       Long-term account payable

       Accrued liabilities                        26,726,232.38                       26,726,232.38

       Deferred income                            74,769,120.17                       75,612,259.33

       Deferred income tax liabilities

       Other non-current liabilities



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Total non-current liabilities                                          123,435,352.55                              128,278,491.71

Total liabilities                                                   1,159,287,038.37                          1,270,348,911.04

Owners’ equity:

     Share capital                                                     602,762,596.00                              602,762,596.00

     Other equity instrument

        Including: preferred stock

                  Perpetual capital securities

     Capital public reserve                                            362,770,922.10                              362,770,922.10

     Less: Inventory shares

     Other comprehensive income

     Surplus reserve                                                   332,908,397.60                              332,908,397.60

     Provision of general risk

     Retained profit                                                   651,056,767.19                              679,429,935.81

Total owner’s equity attributable to parent
                                                                    1,949,498,682.89                          1,977,871,851.51
Company

     Minority interests                                                 52,890,171.42                               58,927,527.37

Total owner’s equity                                               2,002,388,854.31                          2,036,799,378.88

Total liabilities and owner’s equity                               3,161,675,892.68                          3,307,148,289.92


Legal Representative: President Li Xinwei


Person in charge of accounting works: Director GM Chen Yuhui, CFO Dai Xiji


Person in charge of accounting institute: Deputy Manager Wang Yi (act for the financial management dept.)


2. Balance Sheet of Parent Company

                                                                                                                          In RMB

                      Items                                2019-3-31                                  2018-12-31

Current assets:

     Monetary fund                                                     655,283,552.62                              766,041,463.01

     Transactional financial assets

     Financial assets measured by fair
value and with variation reckoned into
current gains/losses

     Derivative financial assets

     Note receivable and account                                        25,933,876.70                               50,415,180.20



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                                                深圳南山热电股份有限公司 2019 年第一季度报告全文


receivable

       Including: Notes receivable

                Accounts receivable            25,933,876.70                       50,415,180.20

     Account paid in advance                   44,595,439.09                       33,326,061.81

     Other account receivable                1,147,841,633.04                   1,048,357,217.53

       Including: Interest receivable

                Dividends receivable

     Inventories                              106,374,215.06                      111,279,675.08

     Contractual assets

     Assets held for sale

     Non-current assets maturing within
one year

     Other current assets                     365,808,635.75                      362,678,678.87

Total current assets                         2,345,837,352.26                   2,372,098,276.50

Non-current assets:

     Debt investment

     Available-for-sale financial assets       60,615,000.00                       60,615,000.00

     Other debt investment

     Held-to-maturity investments

     Long-term receivables

     Long-term equity investments             303,341,165.00                      303,341,165.00

     Investment in other equity instrument

     Other non-current financial assets

     Investment real estate

     Fixed assets                             306,724,823.78                      284,572,482.22

     Construction in progress                   5,858,709.40                       16,490,240.75

     Productive biological assets

     Oil and natural gas assets

     Right-of-use assets

      Intangible assets                         1,217,186.40                        1,518,096.75

     Research and development costs

     Goodwill

     Long-term deferred expenses

     Deferred income tax assets

     Other non-current assets


                                                                                              17
                                                   深圳南山热电股份有限公司 2019 年第一季度报告全文


Total non-current assets                         677,756,884.58                      666,536,984.72

Total assets                                    3,023,594,236.84                   3,038,635,261.22

Current liabilities

       Short-term borrowings                     860,000,000.00                      860,000,000.00

       Transactional financial liability

       Financial liability measured by fair
value and with variation reckoned into
current gains/losses

       Derivative financial liability

       Notes payable & account payable              8,326,114.90                       5,349,562.56

       Accounts received in advance

       Contractual liability

       Wage payable                               25,986,264.30                       26,953,632.92

       Taxes payable                               6,292,362.72                       11,962,377.72

       Other accounts payable                    158,979,178.36                      157,816,358.94

         Including: Interest payable               1,135,362.09

                 Dividend payable

       Liability held for sale

       Non-current liabilities due within one
year

       Other current liabilities

Total current liabilities                       1,059,583,920.28                   1,062,081,932.14

Non-current liabilities:

       Long-term loans

       Bonds payable

         Including: preferred stock

                 Perpetual capital securities

       Lease liability

       Long-term account payable

       Accrued liabilities

       Deferred income                            40,969,318.97                       41,337,945.14

       Deferred income tax liabilities

       Other non-current liabilities

Total non-current liabilities                     40,969,318.97                       41,337,945.14

Total liabilities                               1,100,553,239.25                   1,103,419,877.28


                                                                                                 18
                                                          深圳南山热电股份有限公司 2019 年第一季度报告全文


Owners’ equity:

     Share capital                                      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

     Surplus reserve                                    332,908,397.60                      332,908,397.60

     Retained profit                                    697,406,964.29                      709,581,350.64

Total owner’s equity                                 1,923,040,997.59                     1,935,215,383.94

Total liabilities and owner’s equity                 3,023,594,236.84                     3,038,635,261.22


3. Consolidated Profit Statement

                                                                                                      In RMB

                        Items                   Current Period                     Last Period

I. Total operating income                                  152,975,230.74                   403,525,942.67

     Including: Operating income                           152,975,230.74                   403,525,942.67

              Interest income

              Insurance gained

              Handling fees and commissions
income

II. Total operating cost                                   187,113,939.80                   416,971,883.63

     Including: Operating cost                             159,111,562.68                   385,053,424.45

              Interest expense

              Handling fees and commissions
expenses

              Cash surrender value

              Net amount of expense of
compensation

              Net amount of withdrawal of
insurance contract reserve

              Bonus expense of guarantee slip

              Reinsurance expense

              Taxes and surcharge                            1,387,607.12                        2,031,387.85


                                                                                                           19
                                                            深圳南山热电股份有限公司 2019 年第一季度报告全文


                Sales expenses                                1,053,802.16                       459,156.87

                Administration expenses                      20,641,767.60                     19,145,685.78

                R&D expenses

                Financial expenses                            4,919,200.24                     10,282,228.68

                     Including: interest expenses            12,647,043.44                     11,002,416.40

                            Interest income                  -7,889,780.98                       -963,023.73

                Losses of devaluation of asset

                Loss of credit impairment

      Add: other income                                       1,456,931.10                      1,714,804.83

              Investment income (Loss is listed with
                                                               -431,753.10                       -532,242.73
“-”)

              Including: Investment income on
affiliated Company and joint venture

              Exchange income (Loss is listed with
“-”)

              Net exposure hedging income (Loss is
listed with “-”)

              Changing income of fair value(Loss is
listed with “-”)

              Income on disposal of assets (Loss is
                                                               -402,738.25
listed with “-”)

III. Operating profit       (Loss is listed with “-”)     -33,516,269.31                    -12,263,378.86

      Add: Non-operating income                                104,485.70                           2,000.00

      Less: Non-operating expense                                25,188.07                       796,877.44

IV. Total Profit       (Loss is listed with “-”)          -33,436,971.68                    -13,058,256.30

      Less: Income tax                                         973,552.89                       2,248,293.10

V. Net profit (Net loss is listed with “-”)               -34,410,524.57                    -15,306,549.40

   (i) Classify by business continuity

      1.continuous operating net profit (net loss
listed with ‘-”)

      2.termination of net profit        (net loss listed
with ‘-”)

   (ii) Classify by ownership

      1.Net profit attributable to owner’s of parent
                                                            -28,373,168.62                    -10,927,762.57
company

      2.Minority shareholders’ gains and losses             -6,037,355.95                     -4,378,786.83



                                                                                                          20
                                                      深圳南山热电股份有限公司 2019 年第一季度报告全文


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 of the defined benefit
plans that re-measured

              2.Other comprehensive income
under equity method that cannot be transfer to
gain/loss

              3.Change of fair value of investment
in other equity instrument

              4.Fair value change of enterprise's
credit risk

              5. Other

      (II) Other comprehensive income items
which will be reclassified subsequently to profit
or loss

              1.Other comprehensive income
under equity method that can transfer to gain/loss

              2.Change of fair value of other debt
investment

              3.gain/loss of fair value changes for
available-for-sale financial assets

              4.Amount of financial assets
re-classify to other comprehensive income

              5.Gain/loss of held-to-maturity
investments that re-classify to available-for-sale
financial asset

              6.Credit impairment provision for
other debt investment

              7.Cash flow hedging reserve

              8.Translation differences arising on
translation of foreign currency financial
statements

              9.Other

  Net after-tax of other comprehensive income
attributable to minority shareholders


                                                                                                   21
                                                                            深圳南山热电股份有限公司 2019 年第一季度报告全文


VII. Total comprehensive income                                              -34,410,524.57                         -15,306,549.40

       Total comprehensive income attributable
                                                                             -28,373,168.62                         -10,927,762.57
to owners of parent Company

     Total comprehensive income attributable to
                                                                              -6,037,355.95                          -4,378,786.83
minority shareholders

VIII. Earnings per share:

      (i) Basic earnings per share                                                    -0.05                                  -0.02

     (ii) Diluted earnings per share                                                  -0.05                                  -0.02

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: Deputy Manager Wang Yi (act for the financial management dept.)


4. Profit Statement of Parent Company

                                                                                                                            In RMB

                  Items                                 Current Period                                Last Period

I. Operating income                                                      51,953,247.12                              165,304,888.90

     Less: Operating cost                                                59,371,196.61                              155,632,212.68

           Taxes and surcharge                                              548,340.11                                 178,168.35

           Sales expenses

           Administration expenses                                       11,917,938.97                                9,385,988.12

           R&D expenses

           Financial expenses                                             -7,572,589.42                              -6,277,213.03

                Including: interest
                                                                         11,511,308.35                                4,256,330.00
expenses

                        Interest income                                  -19,015,116.03                             -10,401,896.66

           Losses of devaluation of asset

           Loss of credit impairment

     Add: other income                                                      368,626.17                                 762,430.33

           Investment income (Loss is
listed with “-”)

           Including: Investment income
on affiliated Company and joint venture


                                                                                                                                    22
                                                    深圳南山热电股份有限公司 2019 年第一季度报告全文


              Net exposure hedging income
(Loss is listed with “-”)

              Changing income of fair
value(Loss is listed with “-”)

              Income on disposal of assets
                                                   -231,373.37
(Loss is listed with “-”)

II. Operating profit        (Loss is listed
                                                 -12,174,386.35                         7,148,163.11
with “-”)

         Add: Non-operating income

         Less: Non-operating expense                                                     786,877.44

III. Total Profit      (Loss is listed with
                                                 -12,174,386.35                         6,361,285.67
“-”)

         Less: Income tax                                                               1,590,321.42

IV. Net profit (Net loss is listed with
                                                 -12,174,386.35                         4,770,964.25
“-”)

         (i)continuous operating net profit
         (net loss listed with ‘-”)

         (ii) termination of net profit   (net
loss 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

                 1.Changes of the defined
benefit plans that re-measured

                 2.Other comprehensive
income under equity method that cannot
be transfer to gain/loss

                 3.Change of fair value of
investment in other equity instrument

                 4.Fair value change of
enterprise's credit risk

                 5. Other

          (II) Other comprehensive income
items which will be reclassified
subsequently to profit or loss

                 1.Other comprehensive
income under equity method that can

                                                                                                  23
                                                                  深圳南山热电股份有限公司 2019 年第一季度报告全文


transfer to gain/loss

               2.Change of fair value of
other debt investment

               3.gain/loss of fair value
changes for available-for-sale financial
assets

               4.Amount of financial
assets re-classify to other
comprehensive income

               5.Gain/loss of
held-to-maturity investments that
re-classify to available-for-sale financial
asset

               6.Credit impairment
provision for other debt investment

               7.Cash flow hedging
reserve

               8.Translation differences
arising on translation of foreign
currency financial statements

               9.Other

VI. Total comprehensive income                                 -12,174,386.35                            4,770,964.25

VII. Earnings per share:

         (i) Basic earnings per share

        (ii) Diluted earnings per share


5. Consolidated Cash Flow Statement

                                                                                                              In RMB

                    Items                     Current Period                             Last Period

I. Cash flows arising from operating
activities:

        Cash received from selling
commodities and providing labor                            186,351,276.89                              389,122,193.60
services

        Net increase of customer deposit
and interbank deposit

         Net increase of loan from central
bank


                                                                                                                   24
                                               深圳南山热电股份有限公司 2019 年第一季度报告全文


     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

     Net cash received by agents in
sale and purchase of securities

     Write-back of tax received                                                      620,709.11

     Other cash received concerning
                                            22,895,402.99                          2,172,748.21
operating activities

Subtotal of cash inflow arising from
                                           209,246,679.88                        391,915,650.92
operating activities

     Cash paid for purchasing
commodities and receiving labor            154,761,126.02                        394,654,009.46
service

     Net increase of customer loans
and advances

     Net increase of deposits in central
bank and interbank

     Cash paid for original insurance
contract compensation

     Net increase of financial assets
held for transaction purposes

     Net increase of capital lent

     Cash paid for interest, commission
charge and commission




                                                                                             25
                                                深圳南山热电股份有限公司 2019 年第一季度报告全文


         Cash paid for bonus of guarantee
slip

       Cash paid to/for staff and workers    38,267,116.27                         34,455,664.92

       Taxes paid                             9,429,950.97                         22,451,695.31

       Other cash paid concerning
                                             11,686,141.58                          9,614,887.20
operating activities

Subtotal of cash outflow arising from
                                            214,144,334.84                        461,176,256.89
operating activities

Net cash flows arising from operating
                                             -4,897,654.96                        -69,260,605.97
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         1,989,560.00                           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
                                              1,989,560.00                           262,500.00
activities

       Cash paid for purchasing fixed,
                                             16,685,177.41                         32,248,431.89
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
                                             16,685,177.41                         32,248,431.89
activities

Net cash flows arising from investing
                                            -14,695,617.41                        -31,985,931.89
activities

III. Cash flows arising from financing



                                                                                              26
                                                               深圳南山热电股份有限公司 2019 年第一季度报告全文


activities

     Cash received from absorbing
investment

      Including: Cash received from
absorbing minority shareholders’
investment by subsidiaries

     Cash received from loans                           230,000,000.00                              530,000,000.00

     Cash received from issuing bonds

     Other cash received concerning
                                                             2,133,338.86                            15,460,000.00
financing activities

Subtotal of cash inflow from financing
                                                        232,133,338.86                              545,460,000.00
activities

     Cash paid for settling debts                       334,000,000.00                              167,000,000.00

     Cash paid for dividend and profit
                                                            13,093,959.02                            10,555,809.13
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
                                                        347,093,959.02                              177,555,809.13
financing activities

Net cash flows arising from financing
                                                       -114,960,620.16                              367,904,190.87
activities

IV. Influence on cash and cash
equivalents due to fluctuation in                             -131,875.21                              -231,298.80
exchange rate

V. Net increase of cash and cash
                                                       -134,685,767.74                              266,426,354.21
equivalents

     Add: Balance of cash and cash
                                                        914,956,611.70                              411,613,377.07
equivalents at the period -begin

VI. Balance of cash and cash
                                                        780,270,843.96                              678,039,731.28
equivalents at the period -end


6. Cash Flow Statement of Parent Company

                                                                                                           In RMB

                 Items                     Current Period                             Last Period

I. Cash flows arising from operating


                                                                                                                27
                                              深圳南山热电股份有限公司 2019 年第一季度报告全文


activities:

     Cash received from selling
commodities and providing labor            80,902,171.49                        165,849,848.40
services

     Write-back of tax received

     Other cash received concerning
                                           38,366,707.44                           892,094.12
operating activities

Subtotal of cash inflow arising from
                                          119,268,878.93                        166,741,942.52
operating activities

     Cash paid for purchasing
commodities and receiving labor            72,960,767.27                        164,618,568.76
service

     Cash paid to/for staff and workers    22,272,693.24                         19,415,113.07

     Taxes paid                             6,293,432.39                          6,308,794.09

     Other cash paid concerning
                                          107,367,157.23                         22,699,771.73
operating activities

Subtotal of cash outflow arising from
                                          208,894,050.13                        213,042,247.65
operating activities

Net cash flows arising from operating
                                          -89,625,171.20                        -46,300,305.13
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       1,794,800.00                           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
                                            1,794,800.00                           262,500.00
activities

     Cash paid for purchasing fixed,
                                           11,886,483.79                         28,368,843.96
intangible and other long-term assets

     Cash paid for investment



                                                                                            28
                                               深圳南山热电股份有限公司 2019 年第一季度报告全文


     Net cash received from
subsidiaries and other units obtained

     Other cash paid concerning
investing activities

Subtotal of cash outflow from investing
                                           11,886,483.79                          28,368,843.96
activities

Net cash flows arising from investing
                                           -10,091,683.79                        -28,106,343.96
activities

III. Cash flows arising from financing
activities

     Cash received from absorbing
investment

     Cash received from loans             230,000,000.00                         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
                                          230,000,000.00                         371,660,000.00
activities

     Cash paid for settling debts         230,000,000.00                          30,000,000.00

     Cash paid for dividend and profit
                                           11,040,179.19                           3,194,917.92
distributing or interest paying

     Other cash paid concerning
financing activities

Subtotal of cash outflow from
                                          241,040,179.19                          33,194,917.92
financing activities

Net cash flows arising from financing
                                           -11,040,179.19                        338,465,082.08
activities

IV. Influence on cash and cash
equivalents due to fluctuation in                -876.21                              -1,583.93
exchange rate

V. Net increase of cash and cash
                                          -110,757,910.39                        264,056,849.06
equivalents

     Add: Balance of cash and cash
                                          766,041,463.01                         148,223,551.05
equivalents at the period -begin

VI. Balance of cash and cash
                                          655,283,552.62                         412,280,400.11
equivalents at the period -end




                                                                                             29
                                                           深圳南山热电股份有限公司 2019 年第一季度报告全文


II. Explanation on financial statement adjustment

1. Financial statement adjustment at the beginning of the first year when implementation of new financial
instrument rules, new revenue rules and new leasing rules

□Applicable   √Not applicable


2. Retrospective adjustment of the comparative data for initial implementation of new financial instrument
rules and new leasing rules

□Applicable   √Not applicable


III. Audit report

Whether the 1st quarterly report has been audited or not
□Yes √ No
1Q report of the Company is unaudited.




                                                                                                        30