The Third Quarterly Report 2020
Chongqing Jianshe Vehicle System Co., Ltd.
The Third Quarterly Report 2020
2020-078
October 2020
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The Third Quarterly Report 2020
1 Important notes
The Board of Directors，the Supervisory Committee, the directors, the supervisors, and executives of the
Company guarantee that there are no significant omissions, fictitious or misleading statements carried in the
Quarterly Report and we will accept individual and joint responsibilities for the truthfulness, accuracy and
completeness of the Quarterly Report.
All of the directors presented the board meeting at which this Quarterly Report was examined.
Mr. Lv Hongxian, The Company Leader, Mr. Tan Mingxian , Chief financial officer and the Ms.Niu Yanli, 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 the report.
II. Basic Information of the Company
I.Main accounting data and financial Index
Indicate by tick mark whether the Company needs to retroactively restate any of its accounting data.
□ Yes √ No
As at the end of the reporting Changed （%）over end of
As at the end of last year
period prev. year
Gross assets（Yuan） 1,230,073,040.56 1,190,147,356.58 3.35%
Net assets attributable to the
shareholders of the listed company 177,949,550.42 172,172,730.61 3.36%
（Yuan）
Increase/decrease over Between beginning of
Changed （%）over
Reporting period the same period of last the year to the end of
end of prev. year
year（%） the report period
Operating income（Yuan） 202,858,501.83 15.11% 537,448,763.68 -9.65%
Net profit attributable to the
shareholders of the listed company 40,472,240.13 -267.13% 5,776,819.81 -109.45%
（Yuan）
Net profit after deducting of
non-recurring gain/loss attributable
-2,059,817.75 -91.59% -36,200,374.63 -39.98%
to the shareholders of listed
company（Yuan）
Cash flow generated by business
47,434,377.12 -32.23% 120,556,271.10 -36.26%
operation, net（Yuan）
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The Third Quarterly Report 2020
Basic earning per
0.3390 -267.08% 0.0484 -109.46%
share(Yuan/Share)
Diluted gains per
0.3390 -267.08% 0.0484 -109.46%
share(Yuan/Share)
Weighted average income/asset
23.12% 32.34% 3.30% 26.55%
ratio（%）
Items and amount of non-current gains and losses
√ Applicable □ Not applicable
In RMB
Amount (Year-beginning to
Items Notes
the end of the report period.)
Gain equal to the amount by which investment costs for the
Company to obtain subsidiaries, associates and joint ventures are
42,516,031.33
lower than the Company’s enjoyable fair value of identifiable net
assets of investees when making investments
Other non-business income and expenditures other than the above -538,836.89
Total 41,977,194.44 --
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.
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The Third Quarterly Report 2020
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
Total number of common with the voting power
7,484 0
shareholders at the period-end recovered at the end of the
reporting period(if any)
Shares held by the top 10 shareholders
Amount of Pledging or freezing
Properties of Share tradable shares
Shareholder name Quantity Status of the
shareholder proportion % with Conditional Quantity
shares
held
China Military
State-owned legal
Equipment Group 71.13% 84,906,250 84,906,250
person
Co., Ltd.
Domestic natural
Gu Zuocheng 1.86% 2,218,750 2,218,750
person
Anhui Hengsheng
Domestic
Investment
non-state-owned 1.47% 1,750,000 1,750,000
Development
legal person
Co., Ltd.
Domestic natural
Liu Dan 0.77% 918,251
person
Domestic natural
Xu Yuanhui 0.65% 777,889
person
Domestic natural
Chen Xinqiang 0.51% 612,400
person
Domestic natural
Xue Xiaoping 0.43% 517,175
person
Domestic natural
Zhang Meilan 0.43% 513,560
person
Domestic natural
Feng Yonghui 0.42% 500,000 500,000
person
CORE
PACIFIC-YAMA
ICHI Overseas Legal
0.37% 445,650
INTERNATION person
AL (H.K.)
LIMITED
Shares held by the Top 10 Shareholders of Non-restricted shares
Share type
Shareholders’ Names Number of the non-restricted shares held
Share type Quantity
Foreign shares
Liu Dan 918,251 placed in 918,251
domestic
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The Third Quarterly Report 2020
exchange
Foreign shares
placed in
Xu Yuanhui 777,889 777,889
domestic
exchange
Foreign shares
placed in
Chen Xinqiang 612,400 612,400
domestic
exchange
Foreign shares
placed in
Xue Xiaoping 517,175 517,175
domestic
exchange
Foreign shares
placed in
Zhang Meilan 513,560 513,560
domestic
exchange
Foreign shares
CORE PACIFIC-YAMAICHI
placed in
INTERNATIONAL (H.K.) 445,650 445,650
domestic
LIMITED
exchange
Foreign shares
placed in
Li Jianping 430,000 430,000
domestic
exchange
Foreign shares
placed in
Chen Houping 423,561 423,561
domestic
exchange
Foreign shares
placed in
Yu Lingfeng 390,000 390,000
domestic
exchange
Foreign shares
placed in
Liu Guosheng 345,575 345,575
domestic
exchange
There isn’t any associated relationship between the sponsoring shareholder and the other
Explanation on associated
shareholders among the top-10 list. None of them are regarded as ‘Acting in concert’ in
relationship among the aforesaid
accordance with ‘The rules of information disclosure on change of shareholding.’ Foreign
shareholders
shareholders are unknown for their condition of ‘Associated relationship’ and ‘Acting in
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The Third Quarterly Report 2020
concert’.
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
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The Third Quarterly Report 2020
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
The net profit attributable to shareholders of the Listed Company from the beginning of the year to the end of
the reporting period was 5,776,800 yuan，which turned losses into profits compared to the same period last year.
The main reason was that on June 5, 2020, the Company and Japan Yamaha Motor Co., Ltd (hereinafter referred t
o as YAMAHA), Japan Aisan Industry Co., Ltd (hereinafter referred to as AISAN), Japan TK Vaporizer Co., Ltd (
Hereinafter referred to as TK) signed the "Equity Transfer Contract" to purchase the 20%, 25%, and 5% of Pingsh
an Taikai equity respectively held by YAMAHA, AISAN, and TK at a price of USD 3. The equity transfer for the
acquisition project was completed on September 8, 2020(Please refer to the relevant Announcement No.:
2020-020, 2020-031, 2020-055, 2020-060 and 2020-073 on www.cninfo.com on April 282020,May 23, 2020,
June 9, 2020 and September 12, 2020 for details).The income realized from this equity acquisition
was 42.52 million yuan, which was included in the Company’s non-operating income (non-recurring profit and los
s item), resulting in an increase in the Company’s total profit in the current period.
II. The progress of significant events and influence, as well as the analysis and explanation on resolving
(proposal.
√ Applicable □Not applicable
Chongqing Bisu Yumbo Power Technology Co., Ltd. (hereinafter referred to as "Chongqing Bisu") have
failed to pay Vehicle Air Conditioning Company, a full-owned subsidiary of the Company for the air conditioner
compressors. The Vehicle Air Conditioning Company filed a lawsuit with Chongqing Yubei District People's
Court in November 2018, who held a hearing on July 11, 2019 and issued the "Civil Judgment of Chongqing
Yubei District People's Court" on September 18, 2019 ((2018) Y0112 MC, No. 23992), where the "General
Rules for Purchase of Parts and Materials" signed by the Company and Chongqing Bisu was cancelled.
Chongqing Bisu paid 5,396,775.35 yuan and loss of capital occupation to the Vehicle Air-Conditioning Company.
Baic Yinxiang Automobile Co., Ltd. is jointly and severally liable for the above debts of the Defendant Chongqing
Bisu.At the end of September 2020, Baic Yingxiang has filed for bankruptcy and reorganization, and the Vehicle
Air-Conditioning Company has declared a general claim on the joint and several liabilities of Baic Yingxiang,
with a total amount of 6,378,653.75 yuan.
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
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The Third Quarterly Report 2020
The company has no commitments completed in period and those without completed till lend of the period from
actual controller, shareholders, related parties, purchaser and companies.
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The Third Quarterly Report 2020
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
VI. Prediction of 2020 business performance
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
There is no Entrusted Financial Management during the report period.
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
No such cases in the reporting period.
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The Third Quarterly Report 2020
IV. Financial Statement
I. Financial statement
1. Consolidated balance sheet
Prepared by：Chongqing Jianshe Vehicle System Co., Ltd.
September 30,2020
In RMB
Items September 30,2020 December 31, 2019
Current asset：
Monetary fund 121,690,907.47 154,613,734.94
Settlement provision
Outgoing call loan
Transactional financial assets
Derivative financial assets
Notes receivable 178,452,021.40 23,412,900.18
Account receivable 209,446,470.54 231,648,218.97
Financing of receivables
Prepayments 6,966,037.90 10,076,917.93
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts
receivable
Other account receivable 9,175,922.08 3,439,028.39
Including：Interest receivable
Dividend receivable
Repurchasing of financial assets
Inventories 126,853,596.88 146,318,458.60
Contract assets
Assets held for sales
Non-current asset due within 1 year
Other current asset 2,417,882.21 3,047,932.61
Total of current assets 655,002,838.48 572,557,191.62
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Non-current assets：
Loans and payment on other’s behalf
disbursed
Creditor's right investment
Other Creditor's right investment
Long-term receivable
Long term share equity investment 181,562,637.14 230,649,585.63
Other equity instruments investment
Other non-current financial assets
Property investment 23,340,936.63 71,928,994.28
Fixed assets 328,015,350.23 278,885,442.43
Construction in progress 5,372,488.81 3,858,269.05
Production physical assets
Oil & gas assets
Use right assets
Intangible assets 26,979,854.05 22,823,384.71
Development expenses
Goodwill
Long-germ expenses to be amortized 209,285.77
Deferred income tax asset 6,060,931.98 6,060,931.98
Other non-current asset 3,528,717.47 3,383,556.88
Total of non-current assets 575,070,202.08 617,590,164.96
Total of assets 1,230,073,040.56 1,190,147,356.58
Current liabilities
Short-term loans 511,900,000.00 422,280,000.00
Loan from Central Bank
Borrowing funds
Transactional financial liabilities
Derivative financial liabilities
Notes payable 207,870,000.00 330,644,075.95
Account payable 264,724,399.11 225,193,165.80
Advance receipts 1,769,718.93 1,117,423.35
Contract liabilities
Selling of repurchased financial assets
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Deposit taking and interbank deposit
Entrusted trading of securities
Entrusted selling of securities
Employees’ wage payable 33,159,477.52 14,879,129.15
Tax payable 18,793,671.57 17,773,372.17
Other account payable 12,004,473.68 6,087,459.55
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 1,050,221,740.81 1,017,974,625.97
Non-current liabilities：
Reserve fund for insurance contracts
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
Deferred income tax liability 1,901,749.33
Other non-current liabilities
Total non-current liabilities 1,901,749.33
Total of liability 1,052,123,490.14 1,017,974,625.97
Owners’ equity
Share capital 119,375,000.00 119,375,000.00
Other equity instruments
Including：preferred stock
Sustainable debt
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The Third Quarterly Report 2020
Capital reserves 958,575,094.29 958,575,094.29
Less：Shares in stock
Other comprehensive income
Special reserve
Surplus reserves 125,686,000.00 125,686,000.00
Common risk provision
Retained profit -1,025,686,543.87 -1,031,463,363.68
Total of owner’s equity belong to the parent
177,949,550.42 172,172,730.61
company
Minority shareholders’ equity
Total of owners’ equity 177,949,550.42 172,172,730.61
Total of liabilities and owners’ equity 1,230,073,040.56 1,190,147,356.58
Legal Representative: Lv Hongxian
Person-in-charge of the accounting work：Tan Mingxian
Person-in -charge of the accounting organ：Niu Yanli
2.Parent Company Balance Sheet
In RMB
Items September 30,2020 December 31, 2019
Current asset：
Monetary fund 3,396,993.79 4,448,232.99
Transactional financial assets
Derivative financial assets
Notes receivable 75,500,000.00 16,320,000.00
Account receivable 1,339,329.20 1,184,945.81
Financing of receivables
Prepayments 3,450,114.66 5,428,338.82
Other account receivable 6,774,440.96 2,376,451.69
Including：Interest receivable
Dividend receivable
Inventories 1,126,297.55 1,446,434.47
Contract assets
Assets held for sales
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Non-current asset due within 1 year
Other current asset 3,047,932.61
Total of current assets 91,587,176.16 34,252,336.39
Non-current assets：
Creditor's right investment
Other Creditor's right investment
Long-term receivable
Long term share equity investment 380,608,081.09 390,649,585.63
Other equity instruments investment
Other non-current financial assets
Property investment 23,340,936.63 71,928,994.28
Fixed assets 122,848,295.60 77,199,380.23
Construction in progress 139,837.74 166,386.41
Production physical assets
Oil & gas assets
Use right assets
Intangible assets 14,276,050.30 14,589,584.29
Development expenses
Goodwill
Long-germ expenses to be amortized 172,160.77
Deferred income tax asset
Other non-current asset
Total of non-current assets 541,385,362.13 554,533,930.84
Total of assets 632,972,538.29 588,786,267.23
Current liabilities
Short-term loans
Transactional financial liabilities
Derivative financial liabilities
Notes payable
Account payable 216,317,745.99 191,919,884.09
Advance receipts 475,302.29 200,823.38
Contract Liabilities
Employees’ wage payable 13,583,023.70 12,275,806.23
Tax payable 15,233,221.50 15,169,059.96
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Other account payable 346,124,426.05 293,722,742.58
Including：Interest payable
Dividend payable
Liabilities held for sales
Non-current liability due within 1 year
Other current liability
Total of current liability 591,733,719.53 513,288,316.24
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
Deferred income tax liability
Other non-current liabilities
Total non-current liabilities
Total of liability 591,733,719.53 513,288,316.24
Owners’ equity
Share capital 119,375,000.00 119,375,000.00
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 958,575,094.29 958,575,094.29
Less：Shares in stock
Other comprehensive income
Special reserve
Surplus reserves 125,686,000.00 125,686,000.00
Retained profit -1,162,397,275.53 -1,128,138,143.30
Total of owners’ equity 41,238,818.76 75,497,950.99
Total of liabilities and owners’ equity 632,972,538.29 588,786,267.23
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3.Consolidated Income statement of the Report period
In RMB
Items Amount in this period Amount in last period
I. Income from the key business 202,858,501.83 176,235,751.40
Incl：Business income 202,858,501.83 176,235,751.40
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 203,266,783.73 195,111,413.24
Incl：Business cost 170,135,134.63 156,526,170.75
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 2,690,471.09 2,252,951.97
Sales expense 5,046,518.63 5,277,566.24
Administrative expense 16,145,116.01 19,143,223.14
R & D costs 3,617,297.89 3,899,659.16
Financial expenses 5,632,245.48 8,011,841.98
Including：Interest expense
Interest income
Add: Other income 106,000.00 271,974.93
Investment gain（“-”for loss） -1,827,456.90 -5,627,971.49
Incl: investment gains from affiliates -1,827,456.90 -5,627,971.49
Financial assets measured at amortized
cost cease to be recognized as income
Gains from currency exchange
Net exposure hedging income
Changing income of fair value
Credit impairment loss
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Impairment loss of assets 69,921.05
Assets disposal income 19,176.95
III. Operational profit（“-”for loss） -2,059,817.75 -24,212,481.45
Add ：Non-operational income 42,532,057.88 -3,000.00
Less: Non-operating expense
IV. Total profit(“-”for loss) 40,472,240.13 -24,215,481.45
Less：Income tax expenses
V. Net profit 40,472,240.13 -24,215,481.45
(I) Classification by business
continuity
1.Net continuing operating profit 40,472,240.13 -24,215,481.45
2.Termination of operating net profit
(II) Classification by ownership
1.Net profit attributable to the owners of
40,472,240.13 -24,215,481.45
parent company
2.Minority shareholders’ equity
VI. Net after-tax of other comprehensive
income
Net of profit of other comprehensive inco
me attributable to owners of the parent co
mpany.
（I）Other comprehensive income items
that will not be reclassified into
gains/losses in the subsequent accounting
period
1.Re-measurement of defined benefit pla
ns of changes in net debt or net assets
2.Other comprehensive income under the
equity method investee can not be reclass
ified into profit or loss.
3. Changes in the fair value of
investments in other equity instruments
4. Changes in the fair value of the
company’s credit risks
5.Other
（II）
Other comprehensive income that will be
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The Third Quarterly Report 2020
reclassified into profit or loss.
1.Other comprehensive income under the
equity method investee can be reclassifie
d 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
4.Allowance for credit impairments in
investments in other debt obligations
5. Reserve for cash flow hedges
6.Translation differences in currency fina
ncial statements
7.Other
Net of profit of other comprehensive inco
me attributable to Minority shareholders’
equity
VII. Total comprehensive income 40,472,240.13 -24,215,481.45
Total comprehensive income attributable
40,472,240.13 -24,215,481.45
to the owner of the parent company
Total comprehensive income
0.00
attributable minority shareholders
VIII. Earnings per share
（I）Basic earnings per share 0.3390 -0.2029
(II)Diluted earnings per share 0.3390 -0.2029
The current business combination under common control, the net profits of the combined party before achieved ne
t profit of RMB 0.00, last period the combined party realized RMB0.00.
Legal Representative: Lv Hongxian
Person-in-charge of the accounting work：Tan Mingxian
Person-in -charge of the accounting organ：Niu Yanli
4.Income statement of the Parent Company of the Report period
In RMB
Items Amount in this period Amount in last period
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I. Income from the key business 157,895,158.59 123,916,467.19
Incl：Business cost 162,381,476.31 128,337,118.68
Business tax and surcharge 1,077,024.90 1,383,697.31
Sales expense 776,169.89 510,947.46
Administrative expense 9,050,666.97 11,028,350.71
R & D expense 385,683.86 489,267.22
Financial expenses -60,506.46 5,211,290.46
Including：Interest expenses
Interest income
Add：Other income
Investment gain（“-”for loss） -1,827,456.90 -5,627,971.49
Including: investment gains from
-1,827,456.90 -5,627,971.49
affiliates
Financial assets measured at amortized
cost cease to be recognized as income
Net exposure hedging income
Changing income of fair value
Credit impairment loss
Impairment loss of assets
Assets disposal income 19,176.95
II. Operational profit（“-”for loss） -17,542,813.77 -28,652,999.18
Add ：Non-operational income
Less：Non -operational expenses
III. Total profit(“-”for loss) -17,542,813.77 -28,652,999.18
Less：Income tax expenses
IV. Net profit -17,542,813.77 -28,652,999.18
1.Net continuing operating profit -17,542,813.77 -28,652,999.18
2.Termination of operating net profit
V. Net after-tax of other comprehensive
income
（I）Other comprehensive income items
that will not be reclassified into
gains/losses in the subsequent
accounting period
1.Re-measurement of defined benefit pl
ans of changes in net debt or net assets
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The Third Quarterly Report 2020
2.Other comprehensive income under th
e equity method investee can not be recl
assified into profit or loss.
3. Changes in the fair value of
investments in other equity instruments
4. Changes in the fair value of the
company’s credit risks
5.Other
(II)Other comprehensive income that wi
ll be reclassified into profit or loss
1.Other comprehensive income under th
e equity method investee can be reclassi
fied 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
4.Allowance for credit impairments in
investments in other debt obligations
5. Reserve for cash flow hedges
6.Translation differences in currency fin
ancial statements
7.Other
VI. Total comprehensive income -17,542,813.77 -28,652,999.18
VII. Earnings per share
（I）Basic earnings per share -0.1470 -0.2400
(II)Diluted earnings per share -0.1470 -0.2400
5. Consolidated Income statement between the beginning of the year and end of the report period
In RMB
Items Amount in this period Amount in last period
I. Turnover 537,448,763.68 594,849,928.69
Including：Operating income 537,448,763.68 594,849,928.69
Interest income
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Insurance fee earned
Commission charge and commission
income
II. Total operating costs 565,563,802.51 638,253,240.88
Including ：Operating costs 469,717,457.33 530,681,470.70
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Appropriation of deposit for duty, net
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 4,960,963.50 6,331,590.03
Sales expense 13,783,979.73 14,282,961.32
Administrative expense 50,380,324.93 57,480,231.31
R & D expense 9,989,003.61 10,242,343.37
Financial expenses 16,732,073.41 19,234,644.15
Including：Interest expense
Interest income
Add：Other income 518,200.00 673,074.93
Investment gain（“-”for loss） -10,041,525.08 -16,419,669.26
Including: investment gains from
-10,041,525.08 -16,419,669.26
affiliates
Financial assets measured at amortized
cost cease to be recognized as income
Gains from currency exchange
Net exposure hedging income
Changing income of fair value
Credit impairment loss
Impairment loss of assets 1,492,614.67 -280,777.30
Assets disposal income -54,625.39 -1,693,205.55
III. Operating profit（“-”for loss） -36,200,374.63 -61,123,889.37
Add ：Non-operating income 42,611,557.87 229,624.17
Less: Non-operating expense 634,363.43
IV. Total profit(“-”for loss) 5,776,819.81 -60,894,265.20
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The Third Quarterly Report 2020
Less：Income tax expenses 205,333.75
V. Net profit 5,776,819.81 -61,099,598.95
(I) Classification by business
continuity
1.Net continuing operating profit 5,776,819.81 -61,099,598.95
2.Termination of operating net profit
(II) Classification by ownership
1.Net profit attributable to the owners of
5,776,819.81 -61,099,598.95
parent company
2.Minority shareholders’ equity
VI. Net after-tax of other comprehensive
income
Net of profit of other comprehensive inco
me attributable to owners of the parent co
mpany.
（I）Other comprehensive income items
that will not be reclassified into
gains/losses in the subsequent accounting
period
1.Re-measurement of defined benefit pla
ns of changes in net debt or net assets
2.Other comprehensive income under the
equity method investee can not be reclass
ified into profit or loss.
3. Changes in the fair value of
investments in other equity instruments
4. Changes in the fair value of the
company’s credit risks
5.Other
(II)Other comprehensive income that will
be reclassified into profit or loss
1.Other comprehensive income under the
equity method investee can be reclassifie
d into profit or loss.
2. Changes in the fair value of
investments in other debt obligations
22
The Third Quarterly Report 2020
3. Other comprehensive income arising
from the reclassification of financial
assets
4.Allowance for credit impairments in
investments in other debt obligations
5. Reserve for cash flow hedges
6.Translation differences in currency fina
ncial statements
7.Other
Net of profit of other comprehensive inco
me attributable to Minority shareholders’
equity
VII. Total comprehensive income 5,776,819.81 -61,099,598.95
Total comprehensive income attributable
5,776,819.81 -61,099,598.95
to the owner of the parent company
Total comprehensive income
attributable minority shareholders
VIII. Earnings per share
（I）Basic earnings per share 0.0484 -0.5118
(II)Diluted earnings per share 0.0484 -0.5118
The current business combination under common control, the net profits of the combined party before achieved ne
t profit of RMB 0.00, last period the combined party realized RMB0.00.
Legal Representative: Lv Hongxian
Person-in-charge of the accounting work：Tan Mingxian
Person-in -charge of the accounting organ：Niu Yanli
6.Income Statement of the Parent Between the Beginning of the Year and End of the Report Period
In RMB
Items Amount in this period Amount in last period
I. Revenue 380,363,821.56 437,119,327.89
Including ：Operating costs 369,144,044.06 433,446,742.06
Business tax and surcharge 1,639,338.45 2,252,228.49
Sales expense 1,546,435.64 1,212,289.42
Administrative expense 29,988,335.87 32,287,985.84
R & D expense 1,026,976.27 1,149,417.13
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The Third Quarterly Report 2020
Financial expenses 499,157.04 10,984,757.21
Including：Interest expenses
Interest income
Add：Other income
Investment gain（“-”for loss） -10,041,525.08 -16,419,669.26
Including: investment gains from
-10,041,525.08 -16,419,669.26
affiliates
Financial assets measured at amortized
cost cease to be recognized as income
Net exposure hedging income
Changing income of fair value
Credit impairment loss
Impairment loss of assets
Assets disposal income -158,358.75 -1,693,205.55
II. Operating profit（“-”for loss） -33,680,349.60 -62,326,967.07
Add ：Non-operating income 55,100.00 22,672.56
Less：Non -operating expenses 633,882.63
III. Total profit(“-”for loss) -34,259,132.23 -62,304,294.51
Less：Income tax expenses
IV. Net profit -34,259,132.23 -62,304,294.51
1.Net continuing operating profit -34,259,132.23 -62,304,294.51
2.Termination of operating net profit
V. Net after-tax of other comprehensive
income
（I）Other comprehensive income items
that will not be reclassified into
gains/losses in the subsequent accounting
period
1.Re-measurement of defined benefit plan
s of changes in net debt or net assets
2.Other comprehensive income under the
equity method investee can not be reclassi
fied into profit or loss.
3. Changes in the fair value of
investments in other equity instruments
4. Changes in the fair value of the
company’s credit risks
24
The Third Quarterly Report 2020
5.Other
（II）
Other comprehensive income that will be
reclassified into profit or loss.
1.Other comprehensive income under the
equity method investee 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
4. Allowance for credit
impairments in investments in other debt
obligations
5. Reserve for cash flow hedges
6.
Translation differences in currency financ
ial statements
7.Other
VI. Total comprehensive income -34,259,132.23 -62,304,294.51
VII. Earnings per share
（I）Basic earnings per share -0.2870 -0.5219
(II)Diluted earnings per share -0.2870 -0.5219
7. Consolidated Cash Flow Statement Between the Beginning of the Year and End of the Report Period
In RMB
Items Amount in this period Amount in last period
I.Cash flows from operating activities
Cash received from sales of goods or
339,897,169.27 365,397,706.38
rending of services
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
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The Third Quarterly Report 2020
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 6,209,464.70 16,886,990.47
Other cash received from business
9,366,049.06 3,031,639.95
operation
Sub-total of cash inflow 355,472,683.03 385,316,336.80
Cash paid for purchasing of merchandise
139,267,551.33 100,168,991.25
and services
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
Cash paid for interest, processing fee
and commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 71,218,557.71 73,259,420.49
Taxes paid 4,647,648.56 8,070,369.48
Other cash paid for business activities 19,782,654.33 14,677,072.36
Sub-total of cash outflow from business
234,916,411.93 196,175,853.58
activities
Net cash generated from /used in
120,556,271.10 189,140,483.22
operating activities
II. Cash flow generated by investing
Cash received from investment retrieving 30,193,650.00
Cash received as investment gains 2,000,000.00
Net cash retrieved from disposal of fixed
assets, intangible assets, and other 1,900.00 78,380.08
long-term assets
26
The Third Quarterly Report 2020
Net cash received from disposal of
subsidiaries or other operational units
Other investment-related cash received
Sub-total of cash inflow due to investment
1,900.00 32,272,030.08
activities
Cash paid for construction of fixed assets,
intangible assets and other long-term 2,613,911.45 3,932,686.79
assets
Cash paid as investment 36,672,895.58
Net increase of loan against pledge
Net cash received from subsidiaries and
-21,450,668.55
other operational units
Other cash paid for investment activities
Sub-total of cash outflow due to
-18,836,757.10 40,605,582.37
investment activities
Net cash flow generated by investment 18,838,657.10 -8,333,552.29
III.Cash flow generated by financing
Cash received as investment
Including: Cash received as investment
from minor shareholders
Cash received as loans 476,120,000.00 110,000,000.00
Other financing –related cash received 140,489,828.84 354,318,214.09
Sub-total of cash inflow from financing
616,609,828.84 464,318,214.09
activities
Cash to repay debts 386,500,000.00 363,530,208.33
Cash paid as dividend, profit, or interests 17,089,567.09 18,699,469.49
Including: Dividend and profit paid by
subsidiaries to minor shareholders
Other cash paid for financing activities 396,395,937.75 455,614,530.52
Sub-total of cash outflow due to financing
799,985,504.84 837,844,208.34
activities
Net cash flow generated by financing -183,375,676.00 -373,525,994.25
IV. Influence of exchange rate alternation
-2,986.42 -167.57
on cash and cash equivalents
V.Net increase of cash and cash
-43,983,734.22 -192,719,230.89
equivalents
Add: balance of cash and cash equivalents 74,380,326.10 196,834,130.34
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The Third Quarterly Report 2020
at the beginning of term
VI ..Balance of cash and cash equivalents
30,396,591.88 4,114,899.45
at the end of term
8. Cash Flow Statement of the Parent Between the Beginning of the Year and End of the Report Period
In RMB
Items Amount in this period Amount in last period
I.Cash flows from operating activities
Cash received from sales of goods or
100,282,689.95 141,870,951.07
rending of services
Tax returned
Other cash received from business
8,250,860.95 204,985.65
operation
Sub-total of cash inflow 108,533,550.90 142,075,936.72
Cash paid for purchasing of merchandise
72,976,693.73 47,074,489.72
and services
Cash paid to staffs or paid for staffs 33,112,607.45 32,526,329.34
Taxes paid 683,634.16 707,760.19
Other cash paid for business activities 5,157,047.78 2,465,184.68
Sub-total of cash outflow from business
111,929,983.12 82,773,763.93
activities
Net cash generated from /used in
-3,396,432.22 59,302,172.79
operating activities
II.Cash flow generated by investing
Cash received from investment retrieving 30,193,650.00
Cash received as investment gains 2,000,000.00
Net cash retrieved from disposal of fixed
assets, intangible assets, and other 78,380.08
long-term assets
Net cash received from disposal of
subsidiaries or other operational units
Other investment-related cash received
Sub-total of cash inflow due to
32,272,030.08
investment activities
Cash paid for construction of fixed assets,
intangible assets 2,613,911.45 3,926,726.25
and other long-term assets
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The Third Quarterly Report 2020
Cash paid as investment 20.54 36,672,895.58
Net cash received from subsidiaries and
other operational units
Other cash paid for investment activities
Sub-total of cash outflow due to
2,613,931.99 40,599,621.83
investment activities
Net cash flow generated by investment -2,613,931.99 -8,327,591.75
III. Cash flow generated by financing
Cash received as investment
Cash received as loans
Other financing –related ash received 257,219,125.01 558,200,000.00
Sub-total of cash inflow from financing
257,219,125.01 558,200,000.00
activities
Cash to repay debts
Cash paid as dividend, profit, or interests 9,701,312.83
Other cash paid for financing activities 252,260,000.00 664,142,003.63
Sub-total of cash outflow due to
252,260,000.00 673,843,316.46
financing activities
Net cash flow generated by financing 4,959,125.01 -115,643,316.46
IV. Influence of exchange rate alternation
on cash and cash equivalents
V.Net increase of cash and cash
-1,051,239.20 -64,668,735.42
equivalents
Add: balance of cash and cash equivalents
4,448,232.99 66,377,117.54
at the beginning of term
VI ..Balance of cash and cash equivalents
3,396,993.79 1,708,382.12
at the end of term
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 2020
√ Applicable □ Not applicable
Whether to adjust the balance sheet accounts at the beginning of the year
□ Yes √No
No need to adjust the balance sheet account at the beginning of the year.
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The Third Quarterly Report 2020
In 2020, the company will implement new revenue standards, and the revenue method will be the same as before.
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 2020
□ Applicable √ Not applicable
III. Auditor’ report
Is the Third Quarterly Report be audited?
□ Yes √No
The Third Quarterly report is not audited.
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