Shenzhen Textile (Holdings) Co., Ltd.
The First Quarterly Report 2021
April 2021
Shenzhen Textile(Holdings) Co., Ltd. The First Quarterly Report 2021
1 Important Notice
The Board of Directors ,Supervisory Committee, all directors, supervisors and senior executives of the Company
hereby guarantees that there are no misstatement, misleading representation or important omissions in this report
and shall assume joint and several liability for the authenticity, accuracy and completeness of the contents hereof.
All of the directors presented the board meeting at which this Quarter Report was examined.
Mr.Zhang Jian, Person in charge of the Company, Mr. He Fei, Chief financial officer and the Ms. Zhu Jingjing , the
person in charge of the accounting department (the person in charge of the accounting )hereby confirm the
authenticity and completeness of the financial report enclosed in this Quarter Report .
This Report has been prepared in both Chinese and English , In case any discrepancy , the Chinese version shall
prevail.
Shenzhen Textile(Holdings) Co., Ltd. The First Quarterly Report 2021
II. Basic Information of the Company
（1）Main financial data and financial index
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes √No
In RMB
Changes of this period
This period Same period of last year over same period of last
year（％）
Operating income（RMB） 552,950,209.39 384,038,897.58 43.98%
Net profit attributable to the shareholders
42,776,335.85 -5,827,092.54 843.09%
of the listed company（RMB）
Net profit after deducting of non-
recurring gain/loss attributable to the
39,905,925.26 -9,495,160.00 520.28%
shareholders of listed company
（RMB）
Cash flow generated by business
-75,288,004.27 -84,585,231.55 10.99%
operation, net（RMB）
Basic earning per share(RMB/Share) 0.0842 -0.0114 838.60%
Diluted gains per share(RMB/Share) 0.0842 -0.0114 838.60%
Weighted average ROE(%) 1.53% -0.21% 1.74%
Changes of this period-
End of this period End of last period end over same period-end
of last year(%)
Gross assets（RMB） 5,094,994,895.66 4,969,547,552.23 2.52%
Net assets attributable to the
shareholders of the listed company 2,809,065,407.12 2,766,234,174.39 1.55%
（RMB）
Items and amount of non-current gains and losses
√ Applicable □ Not applicable
In RMB
Amount from year-begin to
Items Notes
period -end
Mainly to confirm other
Government subsidy recognized in current gain and
4,666,489.60 income from government
loss(excluding those closely related to the Company’s business
subsidies related to operating
Shenzhen Textile(Holdings) Co., Ltd. The First Quarterly Report 2021
and granted under the state’s policies) business.
Other non-operating income and expenditure except for the
-3,496.05
aforementioned items
Less: Amount of influence of income tax 5,700.51
Amount of influence of minority interests（After tax） 1,786,882.45
Total 2,870,410.59 --
For the Company’s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on
information disclosure for Companies Offering their Securities to the Public-Non-recurring Gains and Losses and
its non-recurring gain/loss items as illustrated in the Explanatory Announcement No.1 on information Disclosure
for Companies offering their securities to the public-non-recurring Gains and losses which have been defined as
recurring gains and losses, it is necessary to explain the reason.
□ Applicable√ Not applicable
None of Non-recurring gain /loss items recognized as recurring gain /loss/items as defined by the information
disclosure explanatory Announcement No.1- Non –recurring gain/loss in the report period.
II. Total Shareholders and Shares Held by Top Ten Shareholders at the End of the Reporting Period
1. About Total Common Shareholders, Total Preference Shareholders with the Voting Power Recovered
and the Shares Held by Top Ten Common Shareholders
In shares
Total preference shareholders with the voting
Total number of common
28,577 power recovered at the end of the reporting 0
shareholders at the period-end
period(if any)
Shares held by the top 10 shareholders
Amount of Pledging or freezing
Share
Properties of tradable shares
Shareholder name proportion Quantity Status of
shareholder with Conditional Quantity
% the shares
held
Shenzhen Investment Holdings State-owned
46.10% 234,069,436
Co., Ltd. legal person
Shenzhen Shenchao Technology State-owned
3.18% 16,129,032
Investment Co., Ltd. legal person
Domestic
Sun Huiming 0.81% 4,110,425
Nature person
Domestic
Su Weipeng 0.56% 2,823,066 Pledge 2,800,000
Nature person
Domestic
Deng Yan 0.51% 2,578,400
Nature person
Domestic
Shen Zhenxing 0.40% 2,033,000
Nature person
Shenzhen Textile(Holdings) Co., Ltd. The First Quarterly Report 2021
Domestic
Qi Jianhong 0.35% 1,793,800
Nature person
Domestic
Wang Zhongjing 0.33% 1,680,000
Nature person
Domestic
Hou Xiulan 0.33% 1,677,991
Nature person
Domestic
Li Zengmao 0.33% 1,669,797
Nature person
Shareholding of top 10 shareholders of unrestricted shares
Quantity of unrestricted shares held at the end of Share type
Name of the shareholder
the reporting period Share type Quantity
Shenzhen Investment Holdings RMB Common
234,069,436 234,069,436
Co., Ltd. shares
Shenzhen Shenchao Technology RMB Common
16,129,032 16,129,032
Investment Co., Ltd. shares
Foreign shares
Sun Huiming 4,110,425 placed in domestic 4,110,425
exchange
RMB Common
Su Weipeng 2,823,066 2,823,066
shares
RMB Common
Deng Yan 2,578,400 2,578,400
shares
RMB Common
Shen Zhenxing 2,033,000 2,033,000
shares
RMB Common
Qi Jianhong 1,793,800 1,793,800
shares
RMB Common
Wang Zhongjing 1,680,000 1,680,000
shares
RMB Common
Hou Xiulan 1,677,991 1,677,991
shares
RMB Common
Li Zengmao 1,669,797 1,669,797
shares
Shenzhen Shenchao Technology Investment Co., Ltd. is a wholly-owned subsidiary of
Shenzhen Investment Holdings Co., Ltd., According to the decision of the State-owned
Assets Supervision and Administration Commission of Shenzhen Municipal People's
Related or acting-in-concert
Government, Shenzhen Shenchao Technology Investment Co., Ltd was transferred to
parties among shareholders above
Shenzhen Major Industrial Investment Group Co., Ltd in June 2019. Shenzhen Investment
Holdings Co., Ltd and Shenzhen Shenchao Technology Investment Co., Ltd are both
controlled by the State-owned Assets Supervision and Administration Commission of the
Shenzhen Textile(Holdings) Co., Ltd. The First Quarterly Report 2021
Shenzhen Municipal People's Government. Except this, the Company did not whether there
is relationship between the top ten shareholders holding non-restricted negotiable shares
and between the top ten shareholders holding non-restricted negotiable shares and the top
10 shareholders or whether they are persons taking concerted action of Shareholders of
Listed Companies.
Explanation on shareholders
participating in the margin trading None
business(if any )
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 number of preferred shareholders and shareholding of top 10 preferred shareholders by the end of
the report period
□ Applicable √Not applicable
Shenzhen Textile(Holdings) Co., Ltd. The First Quarter Report 2021
III Significant Events
I. Major changes of main accounting statement items and financial indicators in the reporting period, as
well as reasons for the changes
√ Applicable □ Not applicable
Operaing
Ending balance
Items balance(RMB Changes ratio Reasons of changes
(RMB 10,000)
10,000)
Mainly due to the purchase of currency funds and
Monetary funds 17,856.12 27,908.72 -36.02%
investment in Line 7 projects during the reporting period
Mainly due to the increase in sales revenue of the
Notes receivable 2,498.99 1,681.37 48.63%
polarizer business during the reporting period
Financing Mainly due to the increase in sales income of the polarizer
14,345.53 10,205.13 40.57%
receivable business during the reporting period.
Mainly due to the increase in prepayment for materials
Prepayments 4,271.17 1,690.25 152.69%
during the reporting period.
Other account Mainly due to the collection of customer security deposits
3,939.58 526.50 648.26%
receivable during the reporting period.
Mainly due to the indentified input tax to be deducted and
Other current asset 4,506.99 7,748.21 -41.83%
transferred to the tax payable during the reporting period.
Advance receipts 1,413.50 354.24 299.02% Mainly due to the increase in sales receipts in advance.
Retained profit 12,968.87 8,691.24 49.22% Mainly due to gaining profit during the reporting period.
Amount at the Amount at the
Items period（RMB same period of last Changes ratio Reasons of changes
10,000) year(RMB 10,000)
Mainly due to the YOY increase in operating income from
Operating income 55,295.02 38,403.89 43.98%
polarizer business and property leasing business
Mainly due to the increase in sales staff salaries and sales
Sale expenses 1,218.69 506.05 140.82%
service fees
Mainly due to increased research and development in this
R & D Cost 1,121.02 848.62 32.10%
period.
Mainly due to the sharp decline in the yen exchange rate
Financial expenses -1,099.18 92.56 -1287.53% during the reporting period and the substantial increase in
exchange gains.
Assets impairment Mainly due to the increase in provision for inventory
-2,672.69 -1,698.96 -57.31%
loss falling prices.
Mainly due to the decrease in wealth management income
Investment income 500.84 753.26 -33.51%
during the reporting period.
Shenzhen Textile(Holdings) Co., Ltd. The First Quarter Report 2021
Mainly due to the continuous profitability of the polarizer
Operating profit 6,882.35 -1,143.84 701.69%
business during the reporting period.
Mainly due to the continuous profitability of the polarizer
Total frofit 6,882.00 -1,141.64 702.82%
business during the reporting period.
Income tax expenses 672.05 129.45 419.16% Mainly due to the increase in income tax expenses.
Mainly due to the continuous profitability of the polarizer
Net profit 6,209.95 -1,271.09 588.55%
business during the reporting period.
Net cash flow
Mainly due to the purchase of currency funds during the
generated by -10,602.71 -80.92 -13002.71%
reporting period.
investment activities
Net cash flow
Mainly due to the increase in loans for Line 7 project
generated by 7,186.57 -40.05 18044.00%
during the reporting period.
financing activities
II. The progress of significant events and influence, as well as the analysis and explanation on resolving
proposal.
√ Applicable □ Not applicable
(I)Matters concerning the Company's involving arbitration and the subsidiary’s' 2019 performance
commitment compensation
On March 9, 2020, the company received the Notice of Arbitration (No.452 -2) from Shenzhen International
Arbitration Court and the Application for Arbitration submitted by Hangzhou Jinjiang Group Co., Ltd., which is the
applicant of this arbitration while the company is the respondent. Hangzhou Jinjiang Group Co., Ltd. submitted the
following arbitration requests: 1. The ruling made the following changes to the Cooperation Agreement: (1) Delete
the original Article 3.1 of the Cooperation Agreement and the relevant unfulfilled rights and obligations will no
longer be fulfilled (2) Delete the original Article 6.4 of the Cooperation Agreement, and the relevant unfulfilled
rights and obligations will no longer be fulfilled; 2. The respondent shall bear the arbitration fee of the case and the
actual expenses of the arbitral tribunal. The applicant reserves the right to further modify the arbitration request. For
details, please refer to the Announcement of 2020-07 on the website of http://www.cninfo.com.cn.
On March 26, 2020, the company received the Notice on Extending the Time Limit Appointed by Arbitrators
(2020 SGZS No.452 -3) delivered by Shenzhen International Arbitration Court. Due to the complexity of the dispute
and the special epidemic background, the applicant needs extra time to negotiate and communicate the procedural
matters of the case with the respondent, so it applies to Shenzhen International Arbitration Court to extend the time
limit for appointing arbitrators in this case. Shenzhen International Arbitration Court believes that the applicant's
request is reasonable, and both parties are requested to notify Shenzhen International Arbitration Court in writing
of the arbitrator's appointment result before March 30, 2020. Therefore, the company shall appoint an arbitrator
before March 30, 2020 instead of within 15 days after receiving the arbitration notice on March 9, 2020, and notify
the Shenzhen International Arbitration Court of the results in writing. For details, please refer to the Announcement
of 2020-21 on the website of http://www.cninfo.com.cn
On April 17, 2020, the company received the Notice of Arbitral Tribunal Composition (2020 SGZS No.452-4)
from Shenzhen International Arbitration Court. Both parties to the arbitration informed Shenzhen International
Arbitration Court in writing of the results of arbitrator selection according to the arbitration procedure before March
Shenzhen Textile(Holdings) Co., Ltd. The First Quarter Report 2021
30, 2020, and appointed 1 arbitrator respectively and 1 chief arbitrator together. On April 16, 2020, the arbitration
tribunal was formed to hear the case.
On December 1, 2020, the arbitration case was heard in the Seventh Arbitration Tribunal of the Court of
Arbitration located at the Shenzhen Stock Exchange.The arbitration tribunal made the following rulings on this case
on March 25, 2021: 1. The applicant is exempted from performing the 2019 performance compensation obligations
stipulated in Article 3.1 of the Cooperation Agreement, and is not required to pay the 244,783,800 yuan of 2019
performance difference compensation to Shengbo Optoelectronics; 2. The arbitration fee of RMB 2,682,011 for this
case and the actual expenses of the arbitrators of RMB 8,000 shall all borne by the applicant; 3. The applicant’s
other arbitration requests are not supported. This ruling is final and will become legally effective from the date it is
made. For details, please refer to the "Announcement on the Results of the Company Involving Arbitration" (No.
2021-29) disclosed on Cninfo website (http://www.cninfo.com.cn).
（II）Provision of guarantees for subsidiaries to apply for bank mortgages
In order to meet the capital requirements for the construction of the polarizer industrialization project (line 7) for
super-large TVs, the 28th meeting of the seventh board of directors of the company deliberated and approved the
"Proposal on Subsidiaries Applying for Mortgage Loans from Banks" and "About The Proposal on Providing
Guarantees for Subsidiaries' Mortgage Loans, the Proposal on Providing Guarantees for Subsidiaries' Mortgage
Loans Deliberated and Passed by the Second Extraordinary General Meeting of Shareholders in 2020, the 34th
Meeting of the Seventh Board of Directors, and the first interim meeting in 2021 The general meeting of
shareholders reviewed and approved the "Proposal on Clarifying the "Proposal on Providing Guarantees for
Subsidiary Mortgage Loans" and the scope of guarantees in the resolution", and agreed that the subsidiary SAPO
Photoelectric will use some of its self-owned properties to take the Bank of Communications Co., Ltd. Shenzhen
Branch as the lead The bank’s syndicated application for a fixed asset loan of RMB 80 million with a term of no
more than 8 years is based on the "Oversized TV Polarizer Industrialization Project (Line 7) Syndicated Loan" and
"Oversized TV" signed by SAPO Photoelectric and the lender. "The Mortgage Contract of Syndicated Loan for
Polarizer Industrialization Project (Line 7)" shall prevail; Agreed to provide a joint liability guarantee for 60% of
the total debts of the subsidiary SAPO Photoelectric under the above-mentioned project loan to the above-mentioned
syndicate. The principal amount of the secured creditor's rights is RMB 480 million, and the legal representative of
the company or its authorized representative is authorized to represent the company Handle the above guarantee
matters and sign the guarantee contract and any other documents related to this guarantee. For details, please refer
to the company's announcements No. 2020-18, 2020-19, 2020-22, 2020-52, and 2021-11 on www.cninfo.com.cn.
As of the date of the disclosure of this report, the company has signed the "Guarantee Contract for Syndicated Loans
for the Industrialization Project of Polarizers for Ultra-Large TVs (Line 7)" with Bank of Communications Co., Ltd.
Shenzhen Branch, the guarantee agent of the syndicate. For details, please refer to the "Announcement on the
Company's Progress in Providing Guarantees to Subsidiaries" (No. 2020-46) on October 24, 2020,
http://www.cninfo.com.cn.
（III）Progress in subsidiaries participating in the establishment of industrial funds
On November 16, 2017, the company's controlling subsidiary SAPO Photoelectric signed the Changxing
Junying Equity Investment Partnership (Limited Partnership) Agreement with the fund manager Huizhi
Investment Management Co., Ltd, general partner Jinxin Investment Co., Ltd and other limited partners, and co-
sponsored the establishment of an industrial fund, focusing on the optical film industry chain related projects
related to the company's main business, with a fund size of 50 million yuan. SAPO Photoelectric, as one of the
limited partners of the industrial fund, subscribed for a capital contribution of 28.5 million yuan. For details
Juchao Website:（http://www.cninfo.com.cn. (Announcement No.2017--55).
On February 10, 2018, Changxing Junying Equity Investment Partnership completed the industrial and
Shenzhen Textile(Holdings) Co., Ltd. The First Quarter Report 2021
commercial registration and completed the private equity investment fund registration on February 8, 2018. For
details Juchao Website:（http://www.cninfo.com.cn. (Announcement No.2018--05).
As of March 31, 2021, Changxing Junying had accumulated 3 investment projects with a total investment of
42 million yuan.
No Name Investment Fund contribution (RMB 10,000)
1 Shenzhen Kaichuang Shijia Technology Co., Ltd. Optical Film 1,400
2 Shenzhen Shenfuyu Electronic Technology Co., Ltd Optical Film 1,300
3 Shenzhen Hengbaoshun Technology Development Co., Ltd. Optical Film 1,500
Announcement Date of disclosure Website for disclosure
March 11,2020 http//www.cninfo.com.cn. Announcement No.2020-07
Matters concerning the
March 28,2020 http//www.cninfo.com.cn. Announcement No.2020-21
Company's involving arbitration
for its subsidiary’s 2019 November 5,2020 http//www.cninfo.com.cn. Announcement No.2020-50
performance commitment December 17,2020 http//www.cninfo.com.cn. Announcement No.2020-56
compensation
March 30,2021 http//www.cninfo.com.cn. Announcement No.2020-29
March 18,2020 http//www.cninfo.com.cn. Announcement No.2020-18
March 18,2020 http//www.cninfo.com.cn. Announcement No.2020-19
Matters concerning the
Company providing guarantee April 7,2020 http//www.cninfo.com.cn. Announcement No.2020-22
for its subsidiary’s bank October 24,2020 http//www.cninfo.com.cn. Announcement No.2020-46
mortgage loans applied.
November 25,2020 http//www.cninfo.com.cn. Announcement No.2020-52
February 3,2021 http//www.cninfo.com.cn. Announcement No.2021-11
Progress in the implementation of share repurchase
□ Applicable √ Not applicable
Progress in the implementation of the reduction of the repurchased shares by means of centralized bidding
□ Applicable √ Not applicable
III. Commitments finished in implementation by the Company, shareholders, actual controller, acquirer,
directors, supervisors, senior executives or other related parties in the reporting period and commitments
unfinished in implementation at the end of the reporting period
√Applicable □Not applicable
Time
of Perio
Commit maki d of
Fulfill
Commitment ment Type Contents ng comm
ment
maker com itmen
mitm t
ent
Commitment on Shenzh Share As Shenzhen Investment Holdings Co., Ltd., the Augu Sustai Under
Shenzhen Textile(Holdings) Co., Ltd. The First Quarter Report 2021
share reform en reduction controlling shareholder of the company, committed st 4, ned Fulfill
Investm commitme when the restricted-for-sale shares from the shares 2006 and ment
ent nt restructuring were listed for circulation in the market: i. effect
Holding if they plan to sell the shares through the securities ive
s Co., exchange system in the future, and the decrease of the
Ltd. shares they hold reaches 5% within 6 months after the
first decrease, they will disclose an announcement
indicating the sale through the company within two
trading days before the first decrease; ii. They shall
strictly observe the “Guidelines on Transfer of
Restricted-for-sale Original Shares of Listed
Companies” and the provisions of the relevant business
principles of Shenzhen Stock Exchange.
Commitment in
the acquisition
report or the
report on equity
changes
Commitment
made upon the
assets
replacement
Shenzhen Investment Holdings Co., Ltd. signed a
“Letter of Commitment and Statement on Horizontal
Competition Avoidance” when the company issued non-
public stocks in 2009. Pursuant to the Letter of
Commitment and Statement, Shenzhen Investment
Holdings Co., Ltd. and its wholly owned subsidiary,
subsidiaries under control or any other companies that
Commitm
Shenzh have actual control of it shall not be involved in the
ents on
en business the same as or similar to those Shenzhen Sustai
horizontal
Commitments Investm Textile currently or will run in the future, or any Octob ned Under
competitio
made upon ent businesses or activities that may constitute direct or er 9, and Fulfill
n, related
issuance Holding indirect competition with Shenzhen Textile; if the 2009 effect ment
transaction
s Co., operations of Shenzhen Investment Holdings Co., Ltd. ive
and capital
Ltd. and its wholly owned subsidiaries, subsidiaries under
occupation
control or other companies that have actual control of it
compete with Shenzhen Textile in the same industry or
contradict the interest of the issuer in the future,
Shenzhen Investment Holdings Co., Ltd. shall urge such
companies to sell the equity, assets or business to
Shenzhen Textile or a third party; when the horizontal
competition may occur due to the business expansion
Shenzhen Textile(Holdings) Co., Ltd. The First Quarter Report 2021
concurrently necessary for Shenzhen Investment
Holdings Co., Ltd. and its wholly owned subsidiaries,
subsidiaries under control or other companies that have
actual control of it and Shenzhen Textile, Shenzhen
Textile shall have priority.
The commitments during the period non-public issuance
in 2012: 1. Shenzhen Investment Holdings, as the
controlling shareholder of Shenzhen Textile, currently
hasn't the production and business activities of inter-
industry competition with Shenzhen Textile or its share-
holding subsidiary. 2. Shenzhen Investment Holdings
and its share-holding subsidiaries or other enterprises
owned the actual control rights can't be directly and
indirectly on behalf of any person, company or unit to
engage in the same or similar business in any districts in
Commitm
Shenzh the future by the form of share-holding, equity
ents on
en participation, joint venture, cooperation, partnership, Sustai
horizontal
Investm contract, lease, etc., and ensure not to use the July ned Under
competitio
ent controlling shareholder's status to damage the legitimate 14, and Fulfill
n, related
Holding rights and interests of Shenzhen Textile and other 2012 effect ment
transaction
s Co., shareholders, or to gain the additional benefits. 3. If ive
and capital
Ltd. there will be the situation of inter-industry competition
occupation
with Shenzhen Textile for Shenzhen Investment
Holdings and its share-holding subsidiaries or other
enterprises owned the actual control rights in the future,
Shenzhen Investment Holdings will promote the related
enterprises to avoid the inter-industry competition
through the transfer of equity, assets, business and other
ways. 4. Above commitments will be continuously
effective and irrevocable during Shenzhen Investment
Holdings as the controlling shareholder of Shenzhen
Textile or indirectly controlling Shenzhen Textile.
1.The company undertakes not to provide loans, loan
Shenzh guarantees, and any other forms of financial assistance
en to the incentive objects for obtaining the restricted Nove
Other April
Equity incentive Textile( stocks in the incentive plan; 2. The company undertakes mber Fulfill
commitme 7,202
commitment Holding that there is no circumstance that the stock incentive 27,20 ment
nt 1
s) Co., shall be prohibited as stipulated in the provisions of 17
Ltd. Article 7 of the “Measures for the Management of Stock
Incentives of Listed Companies”.
Other
commitments
made to
Shenzhen Textile(Holdings) Co., Ltd. The First Quarter Report 2021
minority
shareholders
Executed timely
Yes
or not?
If the
commitments
failed to
complete the
execution when
expired, should
specifically Not applicable
explain the
reasons of
unfulfillment
and the net stage
of the working
plan
IV. Financial asset investment
1. Investment in securities
□ Applicable √ Not applicable
No securities investment in period.
2.Investment in derivatives
□ Applicable √Not applicable
There is no derivative investment during the report period.
V. Progress of investment projects with raised funds
√ Applicable □ Not applicable
The progress of investment and construction of the polarized film industrialization project for ultra-large-size
TVs (Line 7)
As of March 31, 2021, The line 7 project has completed the overall commissioning and entered the chemical trial
production, and it’s expected to enter the mass production stage in July this year.
On March 16, 2021, The funds raised in the special account for raised funds for the Line 7 project have been used
up as required, and the Company has cancelled the special account for the raised funds. For details, please refer to
No. 2021-30 Announcement of the Company disclosed on www.cninfo.com.cn.
As of March 31, 2021, the cumulative investment contract value of the Line 7 project was 1,832.21 million
yuan, and the actual payment was 1,563.69 million yuan (using the raised funds of 409.95 million yuan, and using
its own funds and government funds of 1,153.74 million yuan).
VI. Prediction of the performances from January to June 2021
Shenzhen Textile(Holdings) Co., Ltd. The First Quarter Report 2021
Estimation on accumulative net profit from the beginning of the year to the end of next report period to be loss
probably or the warning of its material change compared with the corresponding period of the last year and
explanation on reason
□ Applicable √ Not applicable
VII. Major contracts for daily operations
□ Applicable √ Not applicable
VIII. Entrusted Financial Management
√ Applicable □ Not applicable
In RMB10,000
Type Capital resources Amount for entrust Undue balance Overdue amount
Bank financing
Self funds 20,000 6,000 0
product
Other Self funds 64,370 63,370 0
Total 84,370 69,370 0
The detailed information of entrusted wealth-management with significant amount or low safety, poor liquidity or
high risk with no promise of principal
√ Applicable □Not applicable
In RMB 10,000
Nam Type Pr Amou Capi Start Expi Fun Met Refe Exp Act The Am Wh Wh Su
e of of od nt tal Date ry ds hod renc ecte ual actu ount ethe ethe mm
Trus Trust uct Sour Date Allo of e d prof al of r r ary
tee ee Ty ce cati Rew Ann Inco it reco prov pass ther of
Org Orga pe on ard uali me and very isio ed e is eve
aniz nizat Dete zed (if loss of n the any nts
atio ion( rmin Rate any) duri prof for stat entr and
n (or or atio of ng it imp utor uste relat
Trus Trust n Retu the and airm y d ed
tee ee) rn repo loss ent proc fina sear
Nam rting duri (if edur ncia ch
e) peri ng any) e l inde
od the plan x (if
repo in any)
rting the
peri futu
od re
Sout Re
hern M dem
Sept Publ
Asss on Mar pt Une Not
Fund emb ic
et eta Self ch ion 2.65 x appl
Com 30,500 er fund Yes
Man ry fund 31,2 onT % pire icab
pany 7,20 prod
age fu 021 day d le
20 ucts
men nd ,arri
t val
Shenzhen Textile(Holdings) Co., Ltd. The First Quarter Report 2021
Co., onT
Ltd. +1
day
Total 30,500 -- -- -- -- -- -- 0 0 -- -- -- --
Entrusted financing appears to be unable to recover the principal or there may be other circumstances that may
result in impairment
□ Applicable √ Not applicable
IX. External guarantee get out of line
□ Applicable √Not applicable
The Company has no external guarantee get out of the line in the Period
X. Controlling shareholder and its related parties occupying non-business capital of the listed company
□ Applicable √Not applicable
There are no controlling shareholder and its related parties occupying non-business capital of the listed company
in Period
XI. The registration form of acceptance of investigation, communication and interview in the report period
for future reference
√ Applicable □Not applicable
Index of Basic
Types of
Reception Place of Way of Visitors Main contents discussed and Information on the
visitors
time reception reception received information provided Investigation and
received
Survey
The main content: the price
increase situation of polarizer
For details, please
and its impact on the
refer to the "
Meeting Company; whether the
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Shenzhen Textile(Holdings) Co., Ltd. The First Quarter Report 2021
IV. Financial Statement
I. Financial statement
1. Consolidated balance sheet
Prepared by: Shenzhen Textile (Holdings) Co., Ltd.
In RMB
Items March 31,2021 December 31,2020
Current asset：
Monetary fund 178,561,232.96 279,087,236.95
Settlement provision
Outgoing call loan
Transactional financial assets 701,587,769.31 684,617,260.06
Derivative financial assets
Notes receivable 24,989,946.54 16,813,657.28
Account receivable 526,890,268.46 547,310,217.90
Financing receivable 143,455,339.81 102,051,314.08
Prepayments 42,711,657.22 16,902,516.39
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts
receivable
Other account receivable 39,395,823.40 5,265,002.71
Including：Interest receivable 126,767.12
Dividend receivable
Repurchasing of financial assets
Inventories 559,847,248.70 480,847,581.44
Contract assets
Assets held for sales
Non-current asset due within 1 year
Other current asset 45,069,899.42 77,482,083.47
Total of current assets 2,262,509,185.82 2,210,376,870.28
Non-current assets：
Loans and payment on other’s behalf
disbursed
Creditors' right investment
Shenzhen Textile(Holdings) Co., Ltd. The First Quarter Report 2021
Other creditors' right investment
Long-term receivable
Long term share equity investment 147,682,320.04 147,929,137.23
Long-term equity instrument
190,759,230.40 190,607,427.54
investment
Other non-current financial assets 28,500,000.00 30,650,943.40
Property investment 109,986,869.34 110,572,471.92
Fixed assets 771,991,911.11 790,183,905.38
Construction in progress 1,415,846,593.04 1,301,750,141.12
Production physical assets
Oil & gas assets
Use right assets
Intangible assets 36,083,698.36 36,048,978.91
Development expenses
Goodwill
Long-germ expenses to be amortized 3,081,110.54 2,876,561.53
Deferred income tax asset 5,495,384.27 5,243,425.26
Other non-current asset 123,058,592.74 143,307,689.66
Total of non-current assets 2,832,485,709.84 2,759,170,681.95
Total of assets 5,094,994,895.66 4,969,547,552.23
Current liabilities
Short-term loans
Loan from Central Bank
Borrowing funds
Transactional financial liabilities
Derivative financial liabilities
Notes payable
Account payable 320,085,101.23 329,468,601.90
Advance receipts 14,134,966.74 3,542,394.33
Contract liabilities 279,631.27
Selling of repurchased financial
assets
Deposit taking and interbank deposit
Entrusted trading of securities
Entrusted selling of securities
Shenzhen Textile(Holdings) Co., Ltd. The First Quarter Report 2021
Employees’ wage payable 44,738,439.43 55,642,549.53
Tax payable 16,542,656.25 12,198,522.02
Other account payable 145,631,692.84 156,118,440.42
Including：Interest payable
Dividend payable
Fees and commissions payable
Reinsurance fee payable
Liabilities held for sales
Non-current liability due within 1
year
Other current liability
Total of current liability 541,132,856.49 557,250,139.47
Non-current liabilities：
Reserve fund for insurance contracts
Long-term loan 419,151,042.06 343,100,174.35
Bond payable
Including：preferred stock
Sustainable debt
Lease liability
Long-term payable
Long-term remuneration payable to
staff
Expected liabilities
Deferred income 113,889,213.41 110,740,322.21
Deferred income tax liability 59,352,120.55 59,141,666.58
Other non-current liabilities
Total non-current liabilities 592,392,376.02 512,982,163.14
Total of liability 1,133,525,232.51 1,070,232,302.61
Owners’ equity
Share capital 507,758,329.00 507,772,279.00
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 1,967,448,375.03 1,967,514,358.53
Less：Shares in stock 7,525,438.20 7,525,438.20
Shenzhen Textile(Holdings) Co., Ltd. The First Quarter Report 2021
Other comprehensive income 116,740,762.80 116,605,932.42
Special reserve
Surplus reserves 94,954,652.14 94,954,652.14
Common risk provision
Retained profit 129,688,726.35 86,912,390.50
Total of owner’s equity belong to the
2,809,065,407.12 2,766,234,174.39
parent company
Minority shareholders’ equity 1,152,404,256.03 1,133,081,075.23
Total of owners’ equity 3,961,469,663.15 3,899,315,249.62
Total of liabilities and owners’ equity 5,094,994,895.66 4,969,547,552.23
Legal Representative: Zhang Jian Person in charge of accounting：He Fei Accounting Dept Leader: Zhu Jingjing
2.Parent Company Balance Sheet
In RMB
Items March 31,2021 December 31,2020
Current asset：
Monetary fund 11,130,010.32 113,560,327.21
Transactional financial assets 641,587,769.31 514,277,000.82
Derivative financial assets
Notes receivable
Account receivable 4,543,779.36 1,461,400.20
Financing receivable
Prepayments 841,464.00 18,706.17
Other account receivable 9,595,906.86 7,450,934.40
Including：Interest receivable
Dividend receivable
Inventories 14,026.00 8,808.00
Contract assets
Assets held for sales
Non-current asset due within 1 year
Other current asset
Total of current assets 667,712,955.85 636,777,176.80
Non-current assets：
Creditor's right investment
Shenzhen Textile(Holdings) Co., Ltd. The First Quarter Report 2021
Other Creditor's right investment
Long-term receivable
Long term share equity investment 2,103,730,526.13 2,103,977,343.32
Other equity instruments investment 177,294,236.31 177,142,433.45
Other non-current financial assets
Property investment 101,279,965.07 101,644,481.93
Fixed assets 21,472,797.13 21,876,099.34
Construction in progress
Production physical assets
Oil & gas assets
Use right assets
Intangible assets 456,342.22 492,923.62
Development expenses
Goodwill
Long-germ expenses to be amortized
Deferred income tax asset 5,352,394.19 5,097,360.00
Other non-current asset 95,760,086.27 96,871,196.43
Total of non-current assets 2,505,346,347.32 2,507,101,838.09
Total of assets 3,173,059,303.17 3,143,879,014.89
Current liabilities
Short-term loans
Transactional financial liabilities
Derivative financial liabilities
Notes payable
Account payable 411,743.57 411,743.57
Advance receipts 2,875,936.58 2,875,936.58
Contract Liabilities
Employees’ wage payable 13,044,316.74 14,824,723.81
Tax payable 13,188,991.53 11,497,591.21
Other account payable 113,013,158.96 95,023,378.12
Including：Interest payable
Dividend payable
Liabilities held for sales
Non-current liability due within 1
Shenzhen Textile(Holdings) Co., Ltd. The First Quarter Report 2021
year
Other current liability
Total of current liability 142,534,147.38 124,633,373.29
Non-current liabilities：
Long-term loan
Bond payable
Including：preferred stock
Sustainable debt
Lease liability
Long-term payable
Long-term remuneration payable to
staff
Expected liabilities
Deferred income 475,000.00 500,000.00
Deferred income tax liability 56,360,872.03 56,150,418.06
Other non-current liabilities
Total non-current liabilities 56,835,872.03 56,650,418.06
Total of liability 199,370,019.41 181,283,791.35
Owners’ equity
Share capital 507,758,329.00 507,772,279.00
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 1,583,241,526.36 1,583,307,509.86
Less：Shares in stock 7,525,438.20 7,525,438.20
Other comprehensive income 107,767,017.23 107,632,186.85
Special reserve
Surplus reserves 94,954,652.14 94,954,652.14
Retained profit 687,493,197.23 676,454,033.89
Total of owners’ equity 2,973,689,283.76 2,962,595,223.54
Total of liabilities and owners’ equity 3,173,059,303.17 3,143,879,014.89
3.Consolidated Income statement
In RMB
Shenzhen Textile(Holdings) Co., Ltd. The First Quarter Report 2021
Items Amount in this period Amount in last period
I. Income from the key business 552,950,209.39 384,038,897.58
Including：Business income 552,950,209.39 384,038,897.58
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 467,514,146.26 391,112,460.37
Including：Business cost 427,817,363.33 355,291,353.02
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Net amount of withdrawal of insurance contract reserve
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 2,169,731.19 804,115.37
Sales expense 12,186,927.12 5,060,450.36
Administrative expense 25,121,747.46 20,544,772.51
R & D costs 11,210,174.64 8,486,184.19
Financial expenses -10,991,797.48 925,584.92
Including：Interest expense 10,865.75
Interest income 478,995.90 883,728.42
Add：Other income 4,666,489.60 6,035,059.44
Investment gain（“-”for loss） 5,008,410.87 7,532,610.58
Including: investment gains from affiliates -267,795.43 -14,324.29
Termination of recognition of gains on financial assets at
amortized cost
Gains from currency exchange
Net exposure hedging income
Changing income of fair value 402,037.73
Loss of credit impairment 37,491.52 -942,949.53
Impairment losses on assets -26,726,948.99 -16,989,559.50
Income on disposal of assets
III. Operating profit（“-”for loss） 68,823,543.86 -11,438,401.80
Shenzhen Textile(Holdings) Co., Ltd. The First Quarter Report 2021
Add ：Non-operating income 3,907.91 22,036.60
Less: Non-operating expense 7,403.96
IV. Total profit(“-”for loss) 68,820,047.81 -11,416,365.20
Less：Income tax expenses 6,720,531.16 1,294,513.72
V. Net profit 62,099,516.65 -12,710,878.92
(I) Classification by business continuity
1.Net continuing operating profit 62,099,516.65 -12,710,878.92
2.Termination of operating net profit
(II) Classification by ownership
Net profit attributable to the owners of parent company 42,776,335.85 -5,827,092.54
Minority shareholders’ equity 19,323,180.80 -6,883,786.38
VI. Net after-tax of other comprehensive income 134,830.38 1,132,699.19
Net of profit of other comprehensive income attributable to o 134,830.38 1,132,699.19
wners of the parent company.
（I）Other comprehensive income items that will not be
reclassified into gains/losses in the subsequent accounting 113,852.14 579,610.93
period
1.Re-
measurement of defined benefit plans of changes in net debt o
r net assets
2.Other comprehensive income under the equity method inves
tee can not be reclassified into profit or loss.
3. Changes in the fair value of investments in other equity
113,852.14 579,610.93
instruments
4. Changes in the fair value of the company’s credit risks
5.Other
（II）
Other comprehensive income that will be reclassified into pro 20,978.24 553,088.26
fit or loss.
1.Other comprehensive income under the equity method inves
tee can be reclassified into profit or loss.
2. Changes in the fair value of investments in other debt
obligations
3. Other comprehensive income arising from the
reclassification of financial assets
Shenzhen Textile(Holdings) Co., Ltd. The First Quarter Report 2021
4. Allowance for credit impairments in investments in other
debt obligations
5. Reserve for cash flow hedges
6. Translation differences in currency financial statements 20,978.24 553,088.26
7.Other
Net of profit of other comprehensive income attributable to M
inority shareholders’ equity
VII. Total comprehensive income 62,234,347.03 -11,578,179.73
Total comprehensive income attributable to the owner of the
42,911,166.23 -4,694,393.35
parent company
Total comprehensive income attributable minority
19,323,180.80 -6,883,786.38
shareholders
VIII. Earnings per share
（I）Basic earnings per share 0.0842 -0.0114
(II)Diluted earnings per share 0.0842 -0.0114
If there are entities merged under common control, their net profit realized before the merger were totaled to
RMB***. While it was RMB*** previous period.
Legal Representative: Zhang Jian Person in charge of accounting：He Fei Accounting Dept Leader: Zhu Jingjing
4. Income statement of the Parent Company
In RMB
Items Amount in this period Amount in last period
I. Revenue 19,109,039.55 7,630,491.99
Including：Business cost 2,345,100.78 1,874,736.02
Business tax and surcharge 721,825.57 115,428.89
Sales expense
Administrative expense 7,204,979.29 6,808,320.81
R & D costs
Financial expenses -88,114.53 -96,722.15
Including：Interest expenses 3,000.00
Interest income 104,096.33 113,404.51
Add: Other income 25,000.00 30,075.52
Investment gain（“-”for loss） 4,408,808.67 6,150,841.34
Including: investment gains from affiliates -267,795.43 -14,324.29
Shenzhen Textile(Holdings) Co., Ltd. The First Quarter Report 2021
Termination of recognition of gains on financial assets at
amortized cost
Net exposure hedging income
Changing income of fair value 402,037.73
Credit impairment loss -275,123.77 14,037.69
Impairment losses on assets
Income on disposal of assets
II. Operating profit（“-”for loss） 13,485,971.07 5,123,682.97
Add ：Non-operating income
Less：Non -operating expenses
III. Total profit(“-”for loss) 13,485,971.07 5,123,682.97
Less：Income tax expenses 2,446,807.73 1,277,867.39
IV. Net profit 11,039,163.34 3,845,815.58
1.Net continuing operating profit 11,039,163.34 3,845,815.58
2.Termination of operating net profit
V. Net after-tax of other comprehensive income 134,830.38 1,132,699.19
（I）Other comprehensive income items that will not be
reclassified into gains/losses in the subsequent accounting 113,852.14 579,610.93
period
1.Re-
measurement of defined benefit plans of changes in net debt
or net assets
2.Other comprehensive income under the equity method inv
estee can not be reclassified into profit or loss.
3. Changes in the fair value of investments in other equity
113,852.14 579,610.93
instruments
4. Changes in the fair value of the company’s credit risks
5.Other
（II）
Other comprehensive income that will be reclassified into pr 20,978.24 553,088.26
ofit or loss.
1.Other comprehensive income under the equity method inv
estee can be reclassified into profit or loss.
2. Changes in the fair value of investments in other debt
obligations
3. Other comprehensive income arising from the
reclassification of financial assets
Shenzhen Textile(Holdings) Co., Ltd. The First Quarter Report 2021
4. Allowance for credit impairments in investments in other
debt obligations
5. Reserve for cash flow hedges
6. Translation differences in currency financial statements 20,978.24 553,088.26
7.Other
VI. Total comprehensive income 11,173,993.72 4,978,514.77
VII. Earnings per share
（I）Basic earnings per share
(II)Diluted earnings per share
5. Consolidated Cash flow statement
In RMB
Items Amount in this period Amount in last period
I. Cash flows from operating activities
Cash received from sales of goods or rending of services 497,878,724.28 347,314,377.78
Net increase of customer deposits and capital kept for brother
company
Net increase of loans from central bank
Net increase of inter-bank loans from other financial bodies
Cash received against original insurance contract
Net cash received from reinsurance business
Net increase of client deposit and investment
Cash received from interest, commission charge and
commission
Net increase of inter-bank fund received
Net increase of repurchasing business
Net cash received by agent in securities trading
Tax returned 6,520,333.41 954,647.40
Other cash received from business operation 50,348,087.80 26,368,130.45
Sub-total of cash inflow 554,747,145.49 374,637,155.63
Cash paid for purchasing of merchandise and services 464,527,899.35 363,412,160.97
Net increase of client trade and advance
Net increase of savings in central bank and brother company
Cash paid for original contract claim
Net increase for Outgoing call loan
Shenzhen Textile(Holdings) Co., Ltd. The First Quarter Report 2021
Cash paid for interest, processing fee and commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 72,133,529.61 43,641,458.66
Taxes paid 10,012,400.49 15,943,315.82
Other cash paid for business activities 83,361,320.31 36,225,451.73
Sub-total of cash outflow from business activities 630,035,149.76 459,222,387.18
Net cash generated from used in operating activities -75,288,004.27 -84,585,231.55
II. Cash flow generated by investing
Cash received from investment retrieving 20,230,035.72
Cash received as investment gains 5,129,520.27 3,857,765.99
Net cash retrieved from disposal of fixed assets, intangible assets,
and other long-term assets
Net cash received from disposal of subsidiaries or other
operational units
Other investment-related cash received 470,457,427.76 1,048,864,849.13
Sub-total of cash inflow due to investment activities 495,816,983.75 1,052,722,615.12
Cash paid for construction of fixed assets, intangible assets and
89,469,056.52 48,531,829.41
other long-term assets
Cash paid as investment
Net increase of loan against pledge
Net cash received from subsidiaries and other operational units
Other cash paid for investment activities 512,374,977.65 1,005,000,000.00
Sub-total of cash outflow due to investment activities 601,844,034.17 1,053,531,829.41
Net cash flow generated by investment -106,027,050.42 -809,214.29
III.Cash flow generated by financing
Cash received as investment
Including: Cash received as investment from minor shareholders
Cash received as loans 75,966,000.00
Other financing –related cash received
Sub-total of cash inflow from financing activities 75,966,000.00
Cash to repay debts
Cash paid as dividend, profit, or interests 4,020,397.33
Including: Dividend and profit paid by subsidiaries to minor
shareholders
Other cash paid for financing activities 79,933.50 400,527.00
Shenzhen Textile(Holdings) Co., Ltd. The First Quarter Report 2021
Sub-total of cash outflow due to financing activities 4,100,330.83 400,527.00
Net cash flow generated by financing 71,865,669.17 -400,527.00
IV. Influence of exchange rate alternation on cash and cash
548,403.88 936,690.11
equivalents
V.Net increase of cash and cash equivalents -108,900,981.64 -84,858,282.73
Add: balance of cash and cash equivalents at the beginning of
278,337,236.95 268,646,588.18
term
VI ..Balance of cash and cash equivalents at the end of term 169,436,255.31 183,788,305.45
6. Cash Flow Statement of the Parent Company
In RMB
Items Amount in this period Amount in last period
I.Cash flows from operating activities
Cash received from sales of goods or rending of services 14,575,065.59 7,557,501.57
Tax returned
Other cash received from business operation 22,792,292.96 961,505.57
Sub-total of cash inflow 37,367,358.55 8,519,007.14
Cash paid for purchasing of merchandise and services 1,827,595.36 2,273,944.05
Cash paid to staffs or paid for staffs 9,645,113.21 8,852,461.42
Taxes paid 2,883,536.39 13,721,179.11
Other cash paid for business activities 3,174,491.88 184,890.89
Sub-total of cash outflow from business activities 17,530,736.84 25,032,475.47
Net cash generated from /used in operating activities 19,836,621.71 -16,513,468.33
II. Cash flow generated by investing
Cash received from investment retrieving
Cash received as investment gains 2,729,945.20 3,857,765.99
Net cash retrieved from disposal of fixed assets, intangible assets,
and other long-term assets
Net cash received from disposal of subsidiaries or other operational
units
Other investment-related cash received 260,000,000.00 636,934,487.06
Sub-total of cash inflow due to investment activities 262,729,945.20 640,792,253.05
Cash paid for construction of fixed assets, intangible assets and other
916,950.30 545,266.38
long-term assets
Cash paid as investment
Shenzhen Textile(Holdings) Co., Ltd. The First Quarter Report 2021
Net cash received from subsidiaries and other operational units
Other cash paid for investment activities 384,000,000.00 630,000,000.00
Sub-total of cash outflow due to investment activities 384,916,950.30 630,545,266.38
Net cash flow generated by investment -122,187,005.10 10,246,986.67
III. Cash flow generated by financing
Cash received as investment
Cash received as loans
Other financing –related ash received
Sub-total of cash inflow from financing activities
Cash to repay debts
Cash paid as dividend, profit, or interests
Other cash paid for financing activities 79,933.50 400,527.00
Sub-total of cash outflow due to financing activities 79,933.50 400,527.00
Net cash flow generated by financing -79,933.50 -400,527.00
IV. Influence of exchange rate alternation on cash and cash
equivalents
V.Net increase of cash and cash equivalents -102,430,316.89 -6,667,008.66
Add: balance of cash and cash equivalents at the beginning of term 113,560,327.21 27,979,338.37
VI ..Balance of cash and cash equivalents at the end of term 11,130,010.32 21,312,329.71
II Adjustments to the Financial Statements
1. Adjustment of the relevant items of the financial statements at the current year beginning according to the
new standards for financial instruments, the new standards for revenues and the new standards for lease
implemented commencing from year 2021
□ Applicable √Not applicable
2. Note to the retroactive adjustment of the previous comparative data according to the new standards for
financial instruments and the new standards for lease implemented commencing from year 2021
□ Applicable √ Not applicable
III. Auditors 'Report
Is the First Quarter Report be audited?
□ Yes √No
The First Quarter report is not audited.
Shenzhen Textile(Holdings) Co., Ltd. The First Quarter Report 2021
The Board of Directors of Shenzhen Textile (Holdings) Co., Ltd.
April 28,2021
