First Quarter Report of 2023 of Shenzhen Nanshan Power Co., Ltd.
Stock code: 000037, 200037 Stock abbreviation: Shen Nan Dian A, Shen Nan Dian B Announcement No.: 2023-021
Shenzhen Nanshan Power Co., Ltd.
First Quarter Report of 2023
The Company and all members of the Board of Directors guarantee that the Quarterly Report contains no
misrepresentations, misleading statements or material omissions
Important notes:
1. The Board of Directors, the Board of Supervisors, all directors, supervisors and senior officers of the Company
guarantee that the Quarterly Report contains no misrepresentations, misleading statements or material omissions, and
take all responsibilities, individual and/or joint, for the reality, accuracy and completion of the whole contents.
2. The person in charge of the Company, the principal in charge of accounting, the CFO and the head of accounting
department (accounting supervisor) declare that they guarantee the authenticity, accuracy, and completeness of the
financial information in the quarterly report.
3. Whether the first quarter report is audited
□ Yes No
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First Quarter Report of 2023 of Shenzhen Nanshan Power Co., Ltd.
I. Main financial data
(I) Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data or not
□ Yes No
Increase or decrease in the
The same period of
Current period current reporting period
previous year
year on year (%)
Operating income (yuan) 111,067,616.64 75,090,604.86 47.91%
Net profit attributable to the
shareholders of the listed -31,147,959.30 -38,834,600.08 19.79%
company (yuan)
Net profit attributable to the
shareholders of the listed
company after deducting -41,178,992.24 -53,403,178.00 22.89%
non-recurring profit and
loss (yuan)
Net cash flows from
-36,865,225.55 -34,049,453.61 -8.27%
operating activities (yuan)
Basic earnings per share
-0.0517 -0.0644 19.72%
(yuan/share)
Diluted earnings per share
-0.0517 -0.0644 19.72%
(yuan/share)
Increase by 0.27
Weighted average ROE -2.16% -2.43%
percentage points
Increase or decrease at the
End of the reporting period End of previous year end of the current reporting
period year on year (%)
Total assets (yuan) 2,441,183,249.46 2,606,216,345.99 -6.33%
Owner's equity attributable
to the shareholders of the 1,424,692,706.04 1,455,129,894.84 -2.09%
listed company (yuan)
(II) Non-recurring profit and loss items and amounts
Applicable □ Not applicable
Unit: Yuan
Amount in the current
Item Notes
reporting period
Gains/losses from the disposal of non-current asset
(including the write-off that accrued for impairment of -5,685.97
assets)
Tax returns, deduction and exemption approved beyond
the authority or without official approval documents
Governmental subsidy calculated into current gains and
losses (while closely related with the normal business of
It mainly apportioned
the Company, the government subsidy that accord with
2,002,061.76 government subsidies
the provision of national policies and are continuously
related to assets
enjoyed in line with a certain standard quota or quantity
are excluded)
Capital occupancy expense, collected from non-financial
enterprises and recorded in current profits and losses
Income from the exceeding part between investment cost
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First Quarter Report of 2023 of Shenzhen Nanshan Power Co., Ltd.
of the Company paid for obtaining subsidiaries,
associates and joint-ventures and recognizable net
assets fair value attributable to the Company when
acquiring the investment
Profits and losses from exchange of non-monetary assets
Profits and losses from assets under trusted investment
or management
Various provision for impairment of assets withdrew due
to force majeure, such as natural disaster
Gains/losses on debt restructuring
Enterprise reorganizing expenses, such as employee
accommodation costs and integration expenses, etc.
Profits and losses of the part arising from transaction in
which price is not fair and exceeding fair value
Current net profits and losses occurred from period-begin
to combination day by subsidiaries resulting from
business combination under same control
Gains/losses arising from contingency that is not related
to the normal operation business of the Company
Gains/losses of fair value changes arising from holding of
the trading financial asset, trading financial liability and
investment earnings obtained from disposing the trading Mainly wealth management
4,871,044.52
financial asset, trading financial liability, and financial income
assets available for sale, except for the effective hedging
business related to normal operation of the Company
Return of provision of impairment of account receivable
which are treated with separate depreciation test
Profits and losses obtained from external trusted loans
Profits and losses arising from change of fair value of
investment real estate whose follow-up measurement are
conducted according to fair value pattern
Impact on current profits and losses after an one-time
adjustment according to requirements of laws and
regulations regarding to taxation and accounting
Trust fee obtained from trust operation
Mainly for line relocation
Other non-operating income and expenses other than
3,970,353.10 and power outage
those mentioned above
compensation
Other profit and loss that meet the definition of non-
recurring profit and loss
Less: impact on income tax
Impact on minority shareholders’ equity (after-tax) 806,740.47
Total 10,031,032.94
Details of other gains/losses items that meet the definition of non-recurring gains/losses
□ Applicable Not applicable
There are no other gains/losses items that meet the definition of non-recurring gains/losses in the Company.
Explain 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
□ Applicable Not applicable
There are no 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.
(III) Situation and reasons for changes in key accounting data and financial indexes
Applicable □ Not applicable
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First Quarter Report of 2023 of Shenzhen Nanshan Power Co., Ltd.
Percentage of
Item Reason for change
change
Items of the balance sheet
Mainly due to the return of bank borrowings and the
Cash and cash equivalents -52.06% purchase of structured deposits and certificates of deposit
reduced cash and cash equivalents
Mainly engineering service income quality guarantee fund
Contract assets -98.25%
recovery
Mainly due to the increase in the purchase of certificates
Other current assets 43.50%
of deposit
Mainly optimizing the debt structure, and increase in the
Long-term borrowings 134.47%
bank's long-term borrowings.
Mainly due to the payment of lease in installments under
Lease liabilities -63.79%
the lease contract.
Item of the income statement
Operating income 47.91% Mainly due to the increase in electricity income.
Mainly due to the increase in energy output and the
Operating costs 36.59% increase in fuel prices, leading the increase in natural gas
cost
Selling and distribution expenses -30.88% Mainly due to the decrease in sales activity
R&D expenses -35.17% Mainly due to the decrease in R&D projects
Mainly due to the decline in the scale of financing and the
Financial expenses -38.73%
decrease in interest expenses on bank borrowings
Mainly due to the decrease in wealth management
Investment income -57.56%
income
II. Shareholder information
(I) Table of the total number of ordinary shares stockholders and the number of preferred
shares stockholders with restored voting rights, as well as the shareholding status of the top
ten stockholders
Unit: shares
Total number of ordinary shares Total number of preferred shareholders whose
shareholders at the end of the 38,525 voting rights were restored as at the end of the 0
reporting period reporting period (if any)
Shareholding by the top 10 shareholders
Number of Pledge, marking or freezing
shares held
Name of Nature of Shareholding Number of
with restrictive Status of
shareholders shareholders ratio (%) shares held Quantity
conditions for shares
sales
HONG KONG
NAM HOI Overseas
15.28% 92,123,248.00
(INTERNATIO legal person
NAL) LTD.
Shenzhen
Guangju State-owned
12.22% 73,666,824.00
Industrial Co., legal person
Ltd.
Shenzhen
State-owned
Energy Group 10.80% 65,106,130.00
legal person
Co., Ltd.
BOCI Overseas
2.34% 14,109,038.00
SECURITIES legal person
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First Quarter Report of 2023 of Shenzhen Nanshan Power Co., Ltd.
LIMITED
Domestic
Zeng Ying natural 1.19% 7,159,600.00
persons
China
Merchants Overseas
0.90% 5,430,728.00
Securities legal person
(HK) Co., Ltd.
Meiyi
Domestic non-
Investment
state-owned 0.87% 5,223,200.00
Real Estate
legal person
Co., Ltd.
Haitong
International
Securities Overseas
0.65% 3,908,357.00
Company legal person
Limited-
Account Client
Domestic
Huang Yilong natural 0.64% 3,866,500.00
persons
Domestic
Li Baoqin natural 0.51% 3,048,150.00
persons
Shareholdings of the top 10 shareholders without sales restriction
Number of shares held without restrictive Type of shares
Name of shareholders
conditions for sales Type of shares Quantity
Foreign shares
HONG KONG NAM HOI
92,123,248.00 listed 92,123,248.00
(INTERNATIONAL) LTD.
domestically
Shenzhen Guangju Industrial RMB ordinary
73,666,824.00 73,666,824.00
Co., Ltd. shares
Shenzhen Energy Group Co., RMB ordinary
65,106,130.00 65,106,130.00
Ltd. shares
Foreign shares
BOCI SECURITIES LIMITED 14,109,038.00 listed 14,109,038.00
domestically
Foreign shares
Zeng Ying 7,159,600.00 listed 7,159,600.00
domestically
Foreign shares
China Merchants Securities
5,430,728.00 listed 5,430,728.00
(HK) Co., Ltd.
domestically
Meiyi Investment Real Estate RMB ordinary
5,223,200.00 5,223,200.00
Co., Ltd. shares
Haitong International Securities Foreign shares
Company Limited-Account 3,908,357.00 listed 3,908,357.00
Client domestically
RMB ordinary
Huang Yilong 3,866,500.00 3,866,500.00
shares
Foreign shares
Li Baoqin 3,048,150.00 listed 3,048,150.00
domestically
Explanation of the association of the 1. Shenzhen Energy Group Co., Ltd. holds 100% equity interest in HONG
above shareholders or concerted KONG NAM HOI (INTERNATIONAL) LTD.
actions 2. The company does not know whether the above-mentioned other public
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First Quarter Report of 2023 of Shenzhen Nanshan Power Co., Ltd.
shareholders have any association or are persons acting in concert.
Notes on the participation of the top
10 shareholders in margin trading (if N/A
any)
(II) Total preferred shareholders of the Company and shareholding statement of the top 10
preferred shareholders
□ Applicable Not applicable
III. Other important matters
□ Applicable Not applicable
IV. Quarterly financial statements
(I) Financial statements
1. Consolidated balance sheet
Prepared by: Shenzhen Nanshan Power Co., Ltd.
Unit: Yuan
Item Ending balance Beginning balance
Current assets:
Cash and cash equivalents 323,839,061.47 675,496,266.40
Deposit reservation for balance
Lending funds
Financial assets held for trading 550,013,571.10 440,013,571.10
Derivative financial assets
Notes receivable
Accounts receivable 143,001,250.65 135,833,492.64
Receivables financing
Advances to suppliers 42,043,226.11 45,448,287.86
Premiums receivable
Reinsurance accounts receivable
Reinsurance contract reserves
receivable
Other receivables 16,908,506.32 18,314,003.84
Including: interest receivable
Dividends receivable
Financial assets purchased under
resale agreements
Inventories 85,393,556.75 85,279,298.35
Contract assets 3,793.55 217,009.58
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First Quarter Report of 2023 of Shenzhen Nanshan Power Co., Ltd.
Assets held for sale
Non-current assets due within one
year
Other current assets 270,127,878.58 188,248,840.44
Total current assets 1,431,330,844.53 1,588,850,770.21
Non-current assets:
Loans and advances to customers
Creditors' investments
Other creditors' investments
Long-term receivables
Long-term equity investments 83,637,860.92 83,496,098.24
Other investments in equity
300,615,000.00 300,615,000.00
instruments
Other non-current financial assets
Investment properties 1,791,149.80 1,833,344.20
Fixed assets 585,304,276.33 591,290,204.31
Construction in progress 5,075,611.78 4,861,062.16
Productive biological assets
Oil and gas assets
Right-of-use assets 6,347,450.03 7,707,617.90
Intangible assets 19,626,892.11 19,799,355.12
Development expenses
Goodwill
Long-term deferred expenses 1,094,796.40 1,219,129.18
Deferred income tax assets 1,172,366.49 1,172,366.49
Other non-current assets 5,187,001.07 5,371,398.18
Total non-current assets 1,009,852,404.93 1,017,365,575.78
Total assets 2,441,183,249.46 2,606,216,345.99
Current liabilities:
Short-term borrowings 721,303,333.86 879,957,857.44
Borrowings from central bank
Borrowing funds
Transactional financial liabilities
Derivative financial liabilities
Notes payable 137,298,902.17 137,298,902.17
Accounts payable 4,361,871.56 5,227,836.22
Advances from customers
Contract liabilities
Financial assets sold under
repurchase agreements
Deposits from customers and
interbank
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First Quarter Report of 2023 of Shenzhen Nanshan Power Co., Ltd.
Receivings from vicariously traded
securities
Receivings from vicariously sold
securities
Employee compensation payable 26,330,484.20 29,296,815.07
Taxes payable 4,135,389.16 5,107,666.73
Other payables 19,866,018.27 22,997,466.80
Including: interests payable
Dividends payable
Handling charges and
commissions payable
Reinsurance accounts payable
Liabilities held for sale
Non-current liabilities due within
6,087,165.66 6,014,119.95
one year
Other current liabilities 21,600.00 21,600.00
Total current liabilities 919,404,764.88 1,085,922,264.38
Non-current liabilities:
Reserves for insurance contracts
Long-term borrowings 65,698,977.57 28,019,758.68
Bonds payable
Including: preferred shares
Perpetual bond
Lease liabilities 819,111.01 2,262,160.03
Long-term payables
Long-term employee
compensation payable
Estimated liabilities 15,000,000.00 15,000,000.00
Deferred income 80,554,725.80 82,145,596.60
Deferred income tax liabilities
Other non-current liabilities 47,511.72 47,511.72
Total non-current liabilities 162,120,326.10 127,475,027.03
Total liabilities 1,081,525,090.98 1,213,397,291.41
Owner's equity:
Share capital 602,762,596.00 602,762,596.00
Other equity instruments
Including: preferred shares
Perpetual bond
Capital reserves 362,770,922.10 362,770,922.10
Less: treasury stock
Other comprehensive income -2,500,000.00 -2,500,000.00
Special reserves 710,770.50
Surplus reserves 332,908,397.60 332,908,397.60
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First Quarter Report of 2023 of Shenzhen Nanshan Power Co., Ltd.
General risk reserves
Undistributed profit 128,040,019.84 159,187,979.14
Total equity attributable to the owners
1,424,692,706.04 1,455,129,894.84
of the parent company
Minority equity -65,034,547.56 -62,310,840.26
Total owner's equity 1,359,658,158.48 1,392,819,054.58
Total liabilities and owner's equity 2,441,183,249.46 2,606,216,345.99
Legal representative: Kong Guoliang Principal in charge of accounting: Chen Yuhui CFO: Zhang Xiaoyin Head of
accounting department: Lin Xiaojia
2. Consolidated income statement
Unit: Yuan
Item Amount incurred in current period Amount incurred in current period
I. Total operating income 111,067,616.64 75,090,604.86
Including: operating income 111,067,616.64 75,090,604.86
Interest income
Premiums earned
Income from handling
charges and commissions
II. Total operating costs 155,909,683.28 132,092,392.82
Including: operating costs 126,842,855.91 92,865,406.58
Interest expense
Handling charges and
commissions expenses
Surrender value
Net amount of
compensation payout
Net amount of reserves for
reinsurance contract
Policy dividends
分保费用 Reinsurance costs
Taxes and surcharges 637,958.75 749,728.35
Selling and distribution
62,973.97 91,107.81
expenses
G&A expenses 17,524,144.58 21,201,558.67
R&D expenses 5,693,516.08 8,782,597.51
Financial expenses 5,148,233.99 8,401,993.90
Including: interest
7,293,315.78 10,038,591.90
expense
Interest income 2,373,844.43 1,663,629.52
Plus: other incomes 2,002,061.76 1,961,007.25
Investment income (loss
5,012,807.20 11,810,186.35
indicated by “-”)
Including: investment 141,762.68 -814,037.41
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First Quarter Report of 2023 of Shenzhen Nanshan Power Co., Ltd.
income to associates and joint
ventures
Recognized gain of
financial assets calculated based on
amortized cost at end of period
Exchange gain (loss indicated
by "-")
Net exposure hedging gain
(loss indicated by "-")
Gains from changes in fair
value (loss indicated by "-")
Loss from credit impairment
(loss indicated by “-”)
Asset impairment loss (loss
indicated by “-”)
Profit from disposal of assets
(loss indicated by "－")
III. Operating profit (loss indicated by
-37,827,197.68 -43,230,594.36
“-”)
Plus: non-operating income 3,975,125.39
Less: non-operating expenses 10,458.26 12,553.21
IV. Total profit (loss indicated by “-”) -33,862,530.55 -43,243,147.57
Less: income tax expenses 9,136.05
V. Net profit (net loss indicated by “-”) -33,871,666.60 -43,243,147.57
(I) Classified as per business
continuity
1. Net profit from continuing
-33,871,666.60 -43,243,147.57
operation (net loss indicated by “-”)
2. Net profit from discontinuing
operations (net loss indicated by “-”)
(II) Classified as per attribution of
ownership
1. Net profit attributable to the
-31,147,959.30 -38,834,600.08
owners of the parent company
2. Profit and loss of minority
-2,723,707.30 -4,408,547.49
shareholders
VI. After-tax net of other
comprehensive incomes
After-tax net of other
comprehensive incomes attributable
to owners of the parent company
(I) Other comprehensive
incomes which cannot be reclassified
into the profit and loss in future
1. Change due to re-
measurement of defined benefit
plans
2. Other comprehensive
incomes which cannot be reclassified
into the profit and loss under the
Equity Method
3. Changes in fair value
caused by other equity instrument
investments
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First Quarter Report of 2023 of Shenzhen Nanshan Power Co., Ltd.
4. Change in fair value of
enterprise credit risk
5. Miscellaneous
(II) Other comprehensive
incomes which will be reclassified
into the profit and loss in future
1. Other comprehensive
incomes that can be reclassified into
the profit and loss under the Equity
Method
2. Changes in fair value of
other debt investments
3. Amount included in other
comprehensive income after
reclassification of financial assets
4. Credit impairment reserve
of other debt investments
5. Cash flow hedge reserve
6. Translation differences in
foreign currency financial statements
7. Miscellaneous
After-tax net of other
comprehensive incomes attributable
to minority shareholders
VII. Total comprehensive income -33,871,666.60 -43,243,147.57
Total consolidated income
-31,147,959.30 -38,834,600.08
attributable to the parent company
Total consolidated income
-2,723,707.30 -4,408,547.49
attributable to minority shareholder
VIII. Earnings per share:
(I) Basic earnings per share -0.0517 -0.0644
(II) Diluted earnings per share -0.0517 -0.0644
In case of the business combination under the same control during the current period, the net profit realized by the
combined party before the combination was 0.00 yuan, and the net profit realized by the combined party in the
previous period was 0.00 yuan.
Legal representative: Kong Guoliang Principal in charge of accounting: Chen Yuhui CFO: Zhang Xiaoyin Head of
accounting department: Lin Xiaojia
3. Consolidated statement of cash flows
Unit: Yuan
Item Amount incurred in current period Amount incurred in current period
I. Cash flows from operating
activities:
Net increase in deposits from
customers and due from banks and 118,687,636.19 77,508,218.24
other financial institutions
Net increase in customer bank
deposits and placement from banks
and other financial institutions
Net increase in borrowings from
the central bank
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First Quarter Report of 2023 of Shenzhen Nanshan Power Co., Ltd.
Net increase in loans from other
financial institutions
Cash received from premium of
original insurance contract
Net cash received from
reinsurance business
Net increase in deposits and
investments from policyholders
Cash received from interest,
handling charges and commissions
Net increase in loans from banks
and other financial institutions
Net increase in capital from
repurchase business
Net cash received from vicariously
traded securities
Refunds of taxes and surcharges 258,379.09
Cash received from other
7,112,925.06 7,544,718.92
operating activities
Sub-total of cash inflows from
125,800,561.25 85,311,316.25
operating activities
Cash paid for goods purchased
114,751,562.51 70,023,157.06
and services received
Net increase in loans and
advances to customers
Net increase in deposits in central
bank and other banks and financial
institutions
Cash paid for original insurance
contract claims
Net increase in loans to banks and
other financial institutions
Cash paid for interest, handling
charges and commissions
Cash paid for policy dividends
Cash paid to and on behalf of
30,874,421.30 33,460,965.27
employees
Cash paid for taxes and
8,332,669.15 5,414,686.30
surcharges
Cash paid for other operating
8,707,133.84 10,461,961.23
activities
Sub-total of cash outflows from
162,665,786.80 119,360,769.86
operating activities
Net cash flows from operating
-36,865,225.55 -34,049,453.61
activities
II. Cash flows from investing
activities:
Cash received from disposal of
investments
Cash received from returns on
4,871,044.52 7,002,305.94
investments
Net cash received from disposal of
fixed assets, intangible assets and 553,380.00
other long-term assets
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First Quarter Report of 2023 of Shenzhen Nanshan Power Co., Ltd.
Net cash received from disposal of
subsidiaries and other business units
Cash received from other investing
activities
Sub-total of cash inflows from
5,424,424.52 7,002,305.94
investing activities
Cash paid to acquire and construct
fixed assets intangible assets and 2,390,879.00 1,252,945.73
other long-term assets
Cash paid for investments 110,000,000.00 352,639,408.31
Net increase in pledged loans
Net cash paid to acquire
subsidiaries and other business units
Cash paid for other investing
80,000,000.00
activities
Sub-total of cash outflows from
192,390,879.00 353,892,354.04
investing activities
Net cash flows from investing
-186,966,454.48 -346,890,048.10
activities
III. Cash flows from financing
activities:
Cash received from investors
Including: cash received by
subsidiaries from investments by
minority shareholders
Cash received from borrowings 51,185,377.44 369,336,296.23
Cash received from other financing
activities
Sub-total of cash inflows from
51,185,377.44 369,336,296.23
financing activities
Cash paid for debt repayments 175,373,796.22 201,492,740.80
Cash paid for distribution of
dividends and profits or payment of 3,520,921.89 2,897,630.69
interests
Including: dividends and profits
paid to minority shareholders by
subsidiaries
Cash paid for other financing
activities
Sub-total of cash outflows from
178,894,718.11 204,390,371.49
financing activities
Net cash flows from financing
-127,709,340.67 164,945,924.74
activities
IV. Effect of fluctuation in exchange
-116,184.23 -25,751.17
rate on cash and cash equivalents
V. Net increase in cash and cash
-351,657,204.93 -216,019,328.14
equivalents
Plus: beginning balance of cash
675,496,266.40 689,604,633.59
and cash equivalents
VI. Ending balance of cash and cash
323,839,061.47 473,585,305.45
equivalents
Legal representative: Kong Guoliang Principal in charge of accounting: Chen Yuhui CFO: Zhang Xiaoyin Head of
accounting department: Lin Xiaojia
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First Quarter Report of 2023 of Shenzhen Nanshan Power Co., Ltd.
(II) Auditor's report
Whether the first quarter report is audited
□ Yes No
The first quarter report has not been audited.
Board of Directors of Shenzhen Nanshan Power Co., Ltd.
April 26, 2023
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