SHENZHEN CHIWAN PETROLEUM SUPPLY BASE CO., LTD.
THE THIRD QUARTERLY REPORT OF 2009
§1 Important Notice
1.1 The Board of Directors, the Board of Supervisors, directors, supervisors and senior management of the
Company confirm that there are no false representations, misleading statements or material omissions
contained herein, and individually and/or jointly take full responsibility for the truthfulness, accuracy and
completeness of the contents of this report.
1.2 The Company’s 2009 third quarterly financial report has not been audited.
1.3 All the directors have attended the Board Meeting.
1.4 Mr. Han Guimao, Chairman of the Board, Ms. Yu Zhongxia, Deputy Financial Controller and Mr. Zeng
Xiaoming, Manager of Finance Department, hereby ensure the truthfulness and completeness of the
financial report enclosed in this report.
§2 Corporate Information
2.1 Major Accounting Data and Financial Index
Unit: RMB
30th Sep, 2009 31st Dec, 2008
Period-on-Period
Increase/Decrease
Total Assets 2,595,562,124.65 2,269,548,271.28 14.36%
Total Shareholders’ Equity Attributed to the
Shareholders of the Parent Company
929,740,335.35 886,063,910.86 4.93%
Capital Stock 230,600,000.00 230,600,000.00 -
Net Assets per Share Attributed to the Parent
Company (Yuan/per share)
）
4.03 3.84 4.95%
July to September,
2009
Increase/Decrease
over the Same Period
January to September,
2009
Increase/Decrease
over the Same Period
Total Operating Revenue 90,506,762.78 24.24% 241,367,521.46 14.71%
Net Profit Attributed to the Shareholders of
Parent Company
29,429,782.26 44.75% 83,339,624.49 91.73%
Net Cash Flow from Operation Activities - - 181,736,947.08 3.71%
Net Cash Flow per Share from Operation
Business (Yuan/per share)
）
- - 0.79 3.95%
Basic Earnings per Share (Yuan/per share) 0.13 44.44% 0.36 89.47%
Diluted Earnings per Share (Yuan/per share) 0.13 44.44% 0.36 89.47%
ROE
（
%
）
3.17
An increase of 0.78
percentage points
8.96
An increase of 3.86
percentage points
ROE after Deducted of Non-recurring
Gain/Loss Attributed to the Parent Company
（
%
）
3.16
An increase of 0.73
percentage points
8.96
An increase of
3.72 percentage
points2
Unit: RMB
Items of Non-recurring Losses and Gains Amount from Jan to Sep,
2009
Losses and Gains on Disposal of Non-current Assets -984,206.47
Government subsidy accounted as current losses and gains, excluding those closely
related to the company's operation businesses, granted on a continuous basis
according to a preset amount or quantity standards persistent to the state policy.
1,480,804.00
The amount affected by income tax -275,955.96
Other non-operating income and expenditure, excluding above-mentioned items -187,708.79
Total 32,932.78
2.2 Total number of shareholders and top ten tradable shareholders
Unit: Share
Total No. of Shareholders 8,601
Information of Top Ten Tradable Shareholders
Names of Shareholders Shares of Shareholders Type
OFFSHORE JOINT SERVICES (BASES) CO. OF SGP.
PTE LTD
51,180,000 B
CHINA MERCHANTS SECURITIES(HK) CO., LTD 1,610,093 B
GUOTAI JUNAN SECURIES(HONGKONG)
LIMITED
1,178,505 B
SUN LIFENG 676,870 B
OU YANPING 630,800 B
WU CHI LI 555,000 B
MORGAN STANLEY&CO. INTERNATIONAL PLC 450,100 B
PAN BO 349,800 B
CHEN CHUNPENG 336,600 B
LUO WEIDONG 325,101 B
§3 Significant events
3.1 Explanations and reasons of significant changes of financial statements and financial index
I Applicable J Inapplicable
（
1
）
The ending balance of account receivable is RMB 45,447,923.12, an increase of 51.20% compared with
the beginning balance. It is caused by revenue increase and some deferred payments.
（
2
）
The ending balance of other account receivable is RMB 12,861,216.36, an increase of 213.56%
compared with the beginning balance. It is caused by prepaid payments of equipment purchase and increasing of
fund of disbursement.
（
3
）
The ending balance of constructions in process is RMB 459,418,247.77, an increase of 35.43%
compared with the beginning balance. It is caused by constructions of Tianjin and Xindu logistics parks.3
（
4
）
The ending balance of intangible assets is RMB 808,674,855.65, an increase of 95.95% compared with
the beginning balance. It is caused by the effectiveness of 25 years lease contract of Chiwan yard.
（
5
）
The ending balance of long-term loans is RMB 750,000,000 and the beginning balance is RMB 0. It is
caused by the adjustment of debt structure. Some short-term loans turn to long-term loans.
（
6
）
Investment income from 1st Jan, 2009 to the end of the report period is RMB 22,792,554.78. The
investment income over the same period of last year is RMB -1,951,103.04. It is because that Chiwan Sembawang
Engineering (CSE) turns its losses of RMB 8.15 million into gains of RMB 69.02 million.
（
7
）
From 1st Jan, 2009 to the end of the report period, non-operating income is RMB 1,578,492.44 with a
year-on-year increase of 2,086.12%.It is caused by the government subsidy to the subsidiaries.
（
8
）
From 1st Jan, 2009 to the end of the report period, non-operating expense is RMB 1,898,485.86 with a
year-on-year increase of 47.39%. It is caused by disposal cost for Shenyang project.
（
9
）
From 1st Jan, 2009 to the end of the report period, income tax is RMB 10,894,888.12 with a
year-on-year increase of 54.66%. It is caused by the increase of profit and income tax rate.
3.2 Significant events, their impact and explanation of solution.
J Applicable I Inapplicable
3.3 The fulfillment of commitment of the Company, shareholders and actual controllers.
JApplicable I Inapplicable
3.4 The warning and explanation of deficit probability by the end of next report period or considerable
change of net profit over the same period of last year.
J Applicable I Inapplicable
3.5 Other significant events
There is no supply of funds and no external guarantee against procedures to the controlling shareholders or
their affiliates.
3.5.1 Reception of investors and medias
In the report period, implementing the Guidelines of Fair Information Disclosure for Listed Companies and
Regulations of Investors Relation Management, the Company strictly observed the principles of fair information
disclosure to ensure the objectiveness, authenticity and completeness of the information and had never been
engaged in any activity of revealing, disclosing or letting out in advance any private information. The Company
had received many telephone enquiries but no investors asking on-site investigation or written enquiries.
3.6 Investment of financial derivatives
JApplicable I Inapplicable
3.6.1 Holdings of financial derivatives investment at the end of report period
JApplicable I Inapplicable4
§4 Appendix
4.1 Balance Sheet
Unit: RMB
Sep 30,2009 Jan 1 ,2009
Items
Consolidated Parent company Consolidated Parent company
Current assets:
Cash and cash equivalents 231,201,879.84 220,689,995.30 131,387,928.04 80,240,914.36
Notes receivable
Accounts receivable 45,447,923.14 35,872,322.95 30,058,340.97 18,180,431.33
Prepayments in advance 1,419,097.34 493,810.52 1,253,214.62 666,692.87
Interest receivable
Dividend receivable 37,260,777.76
Other receivable 12,861,216.36 578,428,252.15 4,101,625.86 383,229,928.01
Inventories 1,284,214.45 1,184,920.44 1,426,789.13 1,292,411.92
Non-current asset due in 1 year
Other current assets
Total current assets 292,214,331.13 836,669,301.36 168,227,898.62 520,871,156.25
Non-current assets:
Long-term accounts receivable
Long-term share equity
investment
301,831,584.81 825,985,356.94 279,739,030.03 803,892,802.16
Investment Property 528,017,267.61 115,403,303.03 479,508,264.36 96,941,237.80
Fixed assets 155,707,363.93 46,677,463.61 146,384,412.87 44,629,869.67
Construction in progress 459,418,247.77 430,592.20 339,240,607.25 29,866,123.04
Construction material
Disposal of fixed assets
Intangible assets 808,674,855.65 396,889,894.35 412,695,502.70 27,390,042.79
Development expenditures
Goodwill
Long-term expenses to be
amortized
Deferred income tax assets 2,494,576.95 36,963.88 2,796,005.65 36,963.88
Other non-current assets: 47,203,896.80 440,956,549.80 381,154,260.00
Total non-current assets: 2,303,347,793.52 1,385,423,574.01 2,101,320,372.66 1,383,911,299.34
Total assets: 2,595,562,124.65 2,222,092,875.37 2,269,548,271.28 1,904,782,455.59
Current liabilities:
Short-term loans 289,184,000.00 289,184,000.00 855,000,000.00 855,000,000.00
Notes payable 29,947,807.68 29,947,807.68
Account payable 9,542,682.72 8,608,925.46 1,311,094.09 1,039,045.63
Received in advance 615,797.42 390,724.80
Employees’ wage payable 12,976,301.09 10,946,362.72 15,252,748.28 13,787,725.01
Tax payable 11,674,339.43 7,437,405.58 11,772,839.61 9,547,357.13
Interest payable 2,325,305.46 2,325,305.46 1,419,943.75 1,419,943.75
Others payables 422,077,796.79 270,449,332.34 358,055,082.99 185,091,297.21
Non-current liability due in 1
year5
Other current liabilities
Total current liabilities 778,344,030.59 618,899,139.24 1,243,202,433.52 1,065,885,368.73
Non-current liabilities:
Long-term loans 750,000,000.00 750,000,000.00
Long-term account payable
Special payable 2,000,000.00
Deferred income tax liability
Other non-current liabilities 26,719,571.64 26,150,354.25 27,577,121.24 27,577,121.24
Total non-current liabilities 778,719,571.64 776,150,354.25 27,577,121.24 27,577,121.24
Total liabilities 1,557,063,602.23 1,395,049,493.49 1,270,779,554.76 1,093,462,489.97
Shareholders’ equity
Share capital 230,600,000.00 230,600,000.00 230,600,000.00 230,600,000.00
Capital reserves 220,640,584.58 208,453,861.91 220,640,584.58 208,453,861.91
Less : Treasury Stock
Surplus reserves 184,522,601.92 184,522,601.92 180,538,930.34 180,538,930.34
undistributed profits 293,977,148.85 203,466,918.05 254,284,395.94 191,727,173.37
Difference for foreign currency
translation
Total shareholders’ equity
attributable to the parent company
929,740,335.35 827,043,381.88 886,063,910.86 811,319,965.62
Minority 108,758,187.07 112,704,805.66
Total shareholders’ equity 1,038,498,522.42 827,043,381.88 998,768,716.52 811,319,965.62
Total Liabilities and Equities 2,595,562,124.65 2,222,092,875.37 2,269,548,271.28 1,904,782,455.59
4.2 Income statement (from Jul 1 to Sep 30)
Unit: RMB
Jul 1- Sep 30,2009 Jul 1- Sep 30,2008
Items
Consolidated Parent company Consolidated Parent company
I. Total business revenue 90,506,762.78 59,114,180.92 72,847,216.20 46,353,871.83
Incl. Business revenue 90,506,762.78 59,114,180.92 72,847,216.20 46,353,871.83
Interest income
II. Total business cost 72,003,540.11 49,933,752.72 55,363,958.86 38,412,442.27
Incl. Business cost 42,043,620.15 29,018,987.97 24,613,509.90 14,384,691.02
Interest cost
Business tax and surcharge 4,348,450.63 2,581,711.26 3,591,388.44 1,939,175.61
Sales expense
Administrative expense 13,177,032.30 9,234,351.70 14,540,222.95 9,721,111.00
Financial expense 12,434,437.03 9,098,701.79 12,618,837.57 12,367,464.64
Plus: Gains from change of fair
value (“-” for loss)
Investment income (“-” for loss) 12,460,107.27 12,460,107.27 5,219,953.97 5,219,953.97
Incl. Investment income from
affiliates
12,460,107.27 12,460,107.27 5,164,653.98 5,164,653.98
Exchange gains(“-” for loss)
III. Operational profit (“-” for loss 30,963,329.94 21,640,535.47 22,703,211.31 13,161,383.53
Plus: Non-operating income 1,464,894.91 11,190.00 48,521.69 37,974.62
Less: Non-operating expenditure 1,747,697.93 56,439.01 308,866.71 297,614.036
Incl. Loss from disposal of
non-current assets
1,637,817.22 53,261.42 206,821.95 195,614.03
IV. Gross profit (“-” for loss) 30,680,526.92 21,595,286.46 22,442,866.29 12,901,744.12
Less: Income tax expenses 2,975,484.74 1,827,035.83 2,111,423.63 1,382,722.22
V. Net profit (“-” for net loss) 27,705,042.18 19,768,250.63 20,331,442.66 11,519,021.90
Net profit attributable to the owners
of parent company
29,429,782.26 19,768,250.63 20,331,442.66 11,519,021.90
Minor shareholders’ equity -1,724,740.08
VI. Earnings per share:
：
(I) Basic earnings per share 0.13 0.09 0.09 0.05
(II) Diluted earnings per
share
0.13 0.09 0.09 0.05
VII. Other comprehensive income - - - -
VIII. Accumulated other
comprehensive income 27,705,042.18 19,768,250.63 20,331,442.66 11,519,021.90
(I) Accumulated other comprehensive
income to the owners of parent
company
29,429,782.26 19,768,250.63 20,331,442.66 11,519,021.90
(II) Accumulated other
comprehensive income to Minor
shareholders
-1,724,740.08
4.3 Income Statement (from Jan 1 to Sep 30)
Unit: RMB
Jan 1-Sep 30,2009 Jan 1-Sep 30,2008
Items
Consolidated Parent company Consolidated Parent company
I. Total business revenue 241,367,521.46 151,147,076.21 210,419,357.48 137,348,359.53
Incl. Business revenue 241,367,521.46 151,147,076.21 210,419,357.48 137,348,359.53
Interest income
II. Total business cost 173,552,188.80 110,307,316.04 156,740,639.83 108,859,308.57
Incl. Business cost 95,149,208.79 59,201,481.81 69,749,513.57 41,915,608.98
Interest cost
Business tax and surcharge 11,304,887.92 6,379,609.88 9,824,085.17 5,770,946.73
Sales expense
Administrative expense 36,418,564.85 24,033,848.70 43,366,235.45 28,026,210.56
Financial expense 30,679,527.24 20,692,375.65 33,800,805.64 33,146,542.30
Plus: Gains from change of fair
value (“-” for loss)
Investment income (“-” for loss) 22,792,554.78 22,792,554.78 -1,951,103.04 -1,951,103.04
Incl. Investment income from
affiliates
22,792,554.78 22,792,554.78 -2,106,403.23 -2,106,403.23
Exchange gains(“-” for loss)
III. Operational profit (“-” for loss 90,607,887.44 63,632,314.95 51,727,614.61 26,537,947.92
Plus: Non-operating income 1,578,492.44 56,889.00 72,205.29 53,688.62
Less: Non-operating expenditure 1,898,485.86 153,940.42 1,288,037.88 1,087,715.06
Incl. Loss from disposal of
non-current assets
1,643,688.63 59,132.83 462,092.86 449,934.94
IV. Gross profit (“-” for loss) 90,287,894.02 63,535,263.53 50,511,782.02 25,503,921.48
Less: Income tax expenses 10,894,888.12 8,148,647.27 7,044,288.47 4,962,904.467
V. Net profit (“-” for net loss) 79,393,005.90 55,386,616.26 43,467,493.55 20,541,017.02
Net profit attributable to the owners
of parent company
83,339,624.49 55,386,616.26 43,467,493.55 20,541,017.02
Minor shareholders’ equity -3,946,618.59
VI. Earnings per share:
：
(I) Basic earnings per share 0.36 0.24 0.19 0.09
(II) Diluted earnings per
share
0.36 0.24 0.19 0.09
VII. Other comprehensive income - - - -
VIII. Accumulated other
comprehensive income
79,393,005.90 55,386,616.26 43,467,493.55 20,541,017.02
(I) Accumulated other comprehensive
income to the owners of parent
company
83,339,624.49 55,386,616.26 43,467,493.55 20,541,017.02
(II) Accumulated other
comprehensive income to Minor
shareholders
-3,946,618.59
4.4 Cash Flow Statement
Unit: RMB
Jan 1-Sep 30,2009 Jan 1-Sep 30,2008
Items
Consolidated Parent company Consolidated Parent company
I. Net cash flow from business
operation
Cash received from sales of
products & providing of services
228,604,190.42 135,647,447.54 200,043,732.46 128,491,377.84
Received tax return 536,367.24
Other cash received for
business activities
60,234,900.21 116,858,565.46 65,513,585.45 38,256,842.69
Sub-total of cash inflow from
business activities
289,375,457.87 252,506,013.00 265,557,317.91 166,748,220.53
Cash paid for purchasing of
merchandise and services
29,015,452.03 20,996,621.94 23,690,118.51 17,774,800.32
Cash paid to or for staffs 30,992,150.45 21,917,485.83 26,932,264.17 18,818,558.25
Taxes paid 33,618,541.44 21,357,721.83 27,234,107.51 19,057,686.26
Other cash paid for business
activities
14,012,366.87 10,643,206.71 12,468,520.31 8,934,846.80
Sub-total of cash outflow
from business activities
107,638,510.79 74,915,036.31 90,325,010.50 64,585,891.63
Net cash flow from business
operation
181,736,947.08 177,590,976.69 175,232,307.41 102,162,328.90
II. Cash flow from investing
Cash received from
investments
700,000.00 700,000.00 30,100,000.20 30,100,000.20
Net cash received from
disposal of fixed assets, intangible
assets, and other long-term assets
10,727.82 2,227.82 49,980.00 33,000.00
Net cash received from
disposal of subsidiaries and other
operational units
Other cash received for
investment activities
2,000,000.008
Sub-total of cash inflow due
to investment activities
2,710,727.82 702,227.82 30,149,980.20 30,133,000.20
Cash paid for construction of
fixed assets, intangible assets and
other long-term assets
192,970,212.98 188,180,478.66 303,294,150.24 296,207,715.75
Cash paid for investment
Net cash paid for getting
subsidiaries and other operational
units
90,000,000.00
Other cash paid for investment
activities
Sub-total of cash outflow from
investment activities
192,970,212.98 188,180,478.66 303,294,150.24 386,207,715.75
Net cash flow from investment -190,259,485.16 -187,478,250.84 -273,144,170.04 -356,074,715.55
III. Cash flow from financing
Cash received from
investment
Incl. Cash received from
minor shareholders
Cash received from loans 1,009,184,000.00 1,051,184,000.00 695,000,000.00 808,700,000.00
Other cash received fro m
financing activities
Sub-total of cash inflow from
financing activities
1,009,184,000.00 1,051,184,000.00 695,000,000.00 808,700,000.00
Repayment for debts 825,000,000.00 825,000,000.00 388,953,212.44 388,953,212.44
Cash paid for dividend or
interests
75,862,756.79 75,862,756.79 86,794,021.48 86,794,021.48
Incl. Dividend and profit
paid by subsidiaries to minor
shareholders
Other cash paid for financing
activities
Sub-total of cash outflow
from financing activities
900,862,756.79 900,862,756.79 475,747,233.92 475,747,233.92
Net cash flow from
financing
108,321,243.21 150,321,243.21 219,252,766.08 332,952,766.08
IV. Influence of exchange rate
alternation on cash and cash
equivalents
15,246.67 15,111.88 1,240,533.74 1,241,100.35
V. Net increase of cash and cash
equivalents
99,813,951.80 140,449,080.94 122,581,437.19 80,281,479.78
Plus: Balance of cash and
cash equivalents at the beginning
of term
131,387,928.04 80,240,914.36 84,572,921.25 76,940,780.32
VI. Balance of cash and cash
equivalents at the end of term
231,201,879.84 220,689,995.30 207,154,358.44 157,222,260.10
4.5 Financial Statements
The financial statements have not been audited.
Shenzhen Chiwan Petroleum Supply Base Co., Ltd
30th Oct, 2009
