Stock code: 200053 Short form: Chiwan Base -B Serial number: 2010-17
SHENZHEN CHIWAN PETROLEUM SUPPLY BASE CO., LTD.
FIRST QUARTERLY REPORT OF 2010
PARTⅠ Important Notice
1.1 The directors, supervisors and senior management guarantee that there are no omissions,
misstatement, or misleading information in this annual report. They are responsible,
individually and jointly, for the authenticity, accuracy and integrity of the information herein.
1.2 The first quarterly financial report has not been audited.
1.3 Mr. Han Guimao, Chairman of the Board, and Mdm. Yu Zhongxia, Deputy Financial
Controller, guarantee the authenticity and integrity of the financial result of this quarterly
report.
PARTⅡ Profile of the Company
2.1 Main accounting data and financial indicators
Unit: RMB
March 31, 2010 December 31, 2009 Percentage of change（％）
Total assets 2,568,888,132.74 2,612,490,947.33 -1.67%
Total shareholders’ equity
attributed to shareholders of the
Company
997,189,466.02 964,579,642.28 3.38%
Shares capital 230,600,000.00 230,600,000.00 0.00%
Net assets per share attributed to
shareholders of the Company
4.32 4.18 3.35%
First quarter of 2010 First quarter of 2009 Percentage of change （％）
Total revenue 96,044,916.33 74,557,821.99 28.82
Net profit attributed to
shareholders of the Company
32,609,823.74 25,576,260.03 27.50
Net cash flow from operating
activities
31,989,769.85 30,803,457.40 3.85
Net cash flow from operating
activities per share
0.14 0.13 7.692
Basic EPS 0.14 0.11 27.27
Diluted EPS 0.14 0.11 27.27
Weighted average ROE 3.32% 2.85% 0.47
Weighted average ROE after
deducting non-recurring gains &
losses
3.33% 2.84% 0.47
Items of the non-recurring gains & losses
The amount from the
beginning to the end of report
period
Disposal of non-current assets -21,843.18
Government subsidies calculated into the profit, excluding
those government subsidies closely related to the Company’s
operation and conformed the government policies.
72,000.00
Other non-operating revenue and expenditure excluding the
above-mentioned items 39,245.00
Other items of gains & losses which conform to the
definition of non-recurring gains & losses -47,800.00
Influence on income tax -14,251.10
Gains and losses on minority shareholders’ equity 18,950.00
Total 46,300.72
Explanation for important items of non-recurring gains & losses
None.
2.2 Total number of shareholders and the top ten tradable shareholders at the end of the period
Unit: Share
Total number of shareholders 8,473
The top ten tradable shareholders
Name of shareholders Share Type
OFFSHORE JOINT SERVICES (BASES) CO. OF SGP.
PTE LTD 51,180,000 B
CHINA MECHANTS SECURITIES (HONGKONG) LTD 1,657,793 B
GUOTAI JUNAN SECURITIES(HONGKONG)
LIMITED 1,190,696 B
SUN LIFENG 684,870 B
WU CHI LI 606,800 B
MORGAN STANLEY & CO. INTERNATIONAL PLC 450,100 B
PAN BO 368,400 B
LI SHIJIE 315,700 B
CHEN WEN 282,800 B3
LI YIJUN 275,110 B
PART Ⅲ Significant Events
3.1 Reasons for the big range change of main accounting data and financial indicators.
√ Applicable □ Inapplicable
(1) Due to the increase of revenue and the influence of clients’ payment cycle, the balance of
accounts receivable at the end of report period is RMB 73,188,091.06, with an increase of 46%
compared with the beginning of report period.
(2) Due to the transforming of construction cost of Longquan Baowan( RMB 13.23
million)to the items of construction in process, the balance of prepayment at the end of report
period is RMB1,264,387.02, with a decrease of 91% compared with the beginning of report
period.
(3) Due to the refund of land payment of Shenyang Baowan with the amount of RMB 13
million, the balance of other receivables at the end of report period is RMB 13,305,838.53, with a
decrease of 45% compared with the beginning of report period.
(4) Due to the disposal of material on hand, the inventories at the end of report period is
RMB 274,342.40, with a decrease of 77% compared with the beginning of report period.
(5) Due to the pay-off of bank notes, the notes payable is RMB 0, decreased by 100%
compared with the balance at the beginning of report period.
(6) Due to the withholding of income tax in the first quarter and the increase of income tax
ratio in Shenzhen, tax payable at the end of report period is RMB 19,443,842.16, with an increase
of 39% compared with the balance at the beginning of report period.
(7) Tianjin Baowan and Xindu Baowan were not in operation in the same period of last year.
They are in operation this period, which results in the increase of cost. Therefore, business cost in
the report period is RMB 34,385,401.47, with an increase of 35% over the same period.
(8) Due to the increase of loans and interest rate, financial expense in the report period is
RMB 11,957,854.87, with an increase of 38% over the same period.
(9) Due to the better performance of Shenzhen Chiwan Sembawang Engineering Co., Ltd.,
investment income in the report period is RMB 5,716,950.85, with an increase of 63% over the
same period.
(10) Due to the increase of profit and income tax ratio, income tax expenses in the report
period are RMB 6,539,535.93, with an increase of 60% over the same period.
(11) Newly operational subsidiaries and non-operational subsidiaries do not make profit.
Minor shareholders’ equity is RMB -2,128,806.07, with an increase of 114% over the same period.
(12) Due to the changes of warehouse rental deposit, other cash received from business
activities is RMB 739,179.29, with a decrease of 72% over the same period.4
(13) Due to the increase of cost caused by business increase, cash paid for purchasing of
merchandise and services in the report period is RMB 11,479,321.32, with an increase of 51%
over the same period.
(14) Due to the changes of construction prepayment, other cash paid for business activities is
RMB 9,089,959.84, with an increase of 91% over the same period.
(15) Due to the dividends from Shenzhen Chiwan Offshore Petroleum Equipment Repair &
Manufacture Co., Ltd in the last year’s same period, the cash of investment income in the report
period is RMB 0, decreased by 100% over the same period.
(16) Due to the refund of land payment of Shenyang Baowan, other cash received for
investment activities is RMB 13,000,000.00, with an increase of 550% over the same period.
(17) Due to the decrease of project construction and asset purchasing, cash paid for
construction of fixed assets, intangible assets and other long-term assets in the report period is
RMB 73,691,868.22, with a decrease of 41% over the same period.
(18) Due to the decrease of financing, cash received from loans is RMB 19,184,000.00, with
a decrease of 73% over the same period.
3.2 Significant event and its impact
□ Applicable √ Inapplicable
3.3 Fulfillment of commitment by the Company, shareholders and actual controllers
□ Applicable √ Inapplicable
3.4 Prediction and explanation on important changes of profit of next reporting period
□ Applicable √ Inapplicable
3.5 Other significant events
3.5.1 Stock investment
□ Applicable √ Inapplicable
3.5.2 Reception for the investors
According to relative regulations of listed company information disclosures guide issued by
Shenzhen Stock Exchange and working system in management of investor relationship of the
Company, the Company carried out the principles of fairness, justice and publicity when
receiving interview and investigation and developing activities, guaranteed all investors
enjoying right to learn the truth, other lawful rights and interests, introduced practical
situation of the Company and prevented the Company from leaking information and related
insider dealing. The Company has ensured the communication ways successfully for the
investors and received many enquires by telephone. But there are no investors asking for
visiting on the spot or submitting written questionnaires.
3.5.3 Other significant events
□Applicable √ Inapplicable
(1) There was no share additional purchase plan submitted by the shareholders with more than5
30% shares.
(2) In the report period, the Company did not offer funds to the controlling shareholder or its
related parties or provide external guarantees in violation of the prescribed procedure.
3.6 Investment of financial derivatives
□ Applicable √ Inapplicable
3.6.1 Holding position of investment of financial derivatives at the end of report period.
□ Applicable √ Inapplicable
Board of Directors of
Shenzhen Chiwan Petroleum Supply Base Co., Ltd.
Date: April 30, 2010
