China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
China Fangda Group Co., Ltd.
2019 Third Quarter Report (Full)
October 2019
1
China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
I Important Statement
The members of the Board and the Company guarantee that the quarterly
report is free from any false information, misleading statement or material
omission and are jointly and severally liable for the information’s truthfulness,
accuracy and integrity.
All the Directors have attended the meeting of the board meeting at which
this report was examined.
Mr. Xiong Jianming, the Chairman of Board, Mr. Lin Kebin, the Chief
Financial Officer, and Mr. Wu Bohua, the manager of accounting department
declare: the Financial Report carried in this report is authentic and completed.
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
II. General Information
1. Financial Highlight
Whether the Company needs to make retroactive adjustment or restatement of financial data of previous years
□ Yes √ No
End of the report period End of last year Year-on-year change
Total asset (RMB) 10,888,421,106.10 10,658,854,133.73 2.15%
Net profit attributable to the
shareholders of the listed company 5,051,483,434.60 5,195,187,621.88 -2.77%
(RMB)
Between beginning of
Year-on-year change Change from the same
This report period the year to the end of
(%) period last year
the report period
Turnover (yuan) 699,243,342.82 -11.85% 2,125,134,289.81 -4.93%
Net profit attributable to
shareholders of the listed company 27,468,258.38 -69.93% 156,050,013.39 -51.46%
(yuan)
Net profit attributable to the
shareholders of the listed company
15,661,279.22 -81.76% 129,038,343.28 -56.34%
and after deducting of
non-recurring gain/loss (RMB)
Net cash flow generated by
-- -- -408,455,390.94 -462.71%
business operation (RMB)
Basic earnings per share
0.02 -75.00% 0.14 -50.00%
(yuan/share)
Diluted Earnings per share
0.02 -75.00% 0.14 -50.00%
(yuan/share)
Weighted average net income/asset
0.55% -2.22% 3.11% -6.66%
ratio
Notes:
1. The above-mentioned decrease in “net profit attributable to shareholders of the listed company” was mainly due to the fact
that the Shenzhen Fangda Town project which had a higher gross profit during the reporting period and contributed more to the
profit in the previous year, was nearing the end of the planned sales area resulting in a decrease in operating income and profit. In
addition, the operating income, net profit and gross profit margin of the curtain wall systems and materials industries and rail
transit screen door equipment businesses have increased, as follows:
1. The real estate industry realized operating income of RMB 236,817,200 in the first three quarters of 2019,
a decrease of 62.79% over the same period of the previous year; net profit of RMB 59,435,400 was reduced by
RMB169,668,700 compared with the same period of the previous year with a decrease of 74.06%；
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
2. In the first three quarters of 2019, the curtain wall system and materials industry realized operating
income of RMB1,537,801,300, an increase of 13.66% over the same period of the previous year; the net profit
was RMB57,849,500, an increase of 4.48%; with a gross margin of 14.49%, up0.89 percentages over the same period
of last year;
3. In the first three quarters of 2019, the rail transit equipment industry realized operating income of
RMB319,264,800, an increase of 51.99% over the same period of the previous year; the net profit was RMB52,927,400,
an increase of 61.45%; with a gross margin of 28.03%, up 0.89 percentages over the same period of the previous
year.
2. The decrease in the above-mentioned “net cash flow from operating activities” was mainly due to the decrease in the revenue
of the Shenzhen Fangda town project due to the decrease in operating income during the reporting period, the annual corporate
income tax settlement and payment of taxes, and the development investment of new projects. In addition, the cash flow of the
curtain wall system and materials industry declined from the same period last year.
The cash flow of the rail transit equipment industry increased from the same period last year. The changes
in the cash flow of the curtain wall system and material business and rail transit equipment business are within the reasonable
range of fluctuations.
The details are disclosed as follows:
1. The net cash flow generated by the real estate industry in the first three quarters of 2019 was RMB-220,978,800, compared with
RMB239,685,600 in the same period of the previous year, a decrease of RMB460,664,300 over the same period of the previous year;
2. The net cash flow generated by the operating activities of the curtain wall system and materials industry in the first three
quarters of 2019 was RMB -188,369,400, compared with RMB-86,261,000 in the same period of last year, a decrease of
RMB102,108,500 from the same period of the previous year;
3. The net cash flow generated by the operating activities of the rail transit screen door equipment industry in the first three
quarters of 2019 was RMB-5,498,400, compared with RMB-36,846,700 in the same period of last year, which was improved
compared with the same period of the previous year.
Accidental gain/loss item and amount
√ Applicable □ Inapplicable
In RMB
Amount from beginning of
Item the year to the end of the Notes
report period
Non-current asset disposal gain/loss (including the write-off part
-35,159.35
for which assets impairment provision is made)
Subsidies accounted into the current income account (except the
government subsidy closely related to the enterprise’s business 4,712,514.15
and based on unified national standard quota)
Capital using expense charged to non-financial enterprises and
585,760.51
accounted into the current income account
Gain from entrusted investment or assets management 5,533,960.61
Gain/loss from change of fair value of transactional financial
1,494,278.09
asset and liabilities, and investment gains from disposal of
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
transactional and derivative financial assets and liabilities and
sellable financial assets, other than valid period value instruments
related to the Company’s common businesses
Gain/loss from commissioned loans 301,965.98
Other non-business income and expenditures other than the above 4,603,867.26
Less: Influenced amount of income tax -9,786,470.36
Influenced amount of minority shareholders’ equity
-28,012.50
(after-tax)
Total 27,011,670.11 --
Explanation statement should be made for accidental gain/loss items defined and accidental gain/loss items defined as regular
gain/loss items according to the Explanation Announcement of Information Disclosure No. 1 - Non-recurring gain/loss mentioned.
□ Applicable √ Inapplicable
No circumstance that should be defined as recurrent profit and loss according to Explanation Announcement of Information
Disclosure No. 1 - Non-recurring gain/loss occurs in the report period.
2. Total number of shareholders and shareholding of top 10 shareholders by the end of the
report period
1. Ordinary shareholders, preference shareholders with resumed voting rights and top 10 shareholders
In share
Number of shareholders of
Number of shareholders of common preferred stocks of which
70,369 0
shares at the end of the report period voting rights recovered in the
report period (if any)
Top 10 Shareholders
Nature of Shareholding Shareholding Conditional Pledging or freezing
Shareholder name
shareholder percentage number shares Share status Quantity
Shenzhen
Banglin Domestic
Technologies non-state legal 10.08% 113,202,154 Pledged 32,860,000
Development person
Co., Ltd.
Shengjiu Foreign legal
8.52% 95,688,766
Investment Ltd. person
Domestic natural
Fang Wei 3.03% 34,071,739
person
Gong Qing Domestic
2.38% 26,791,488
Cheng Shi Li He non-state legal
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
Investment person
Management
Partnership
Enterprise
(limited partner)
Shenwan
Hongyuan Foreign legal
1.22% 13,705,232
Securities (Hong person
Kong) Co., Ltd.
VANGUARD
EMERGING
Foreign legal
MARKETS 0.71% 7,946,483
person
STOCK INDEX
FUND
VANGUARD
TOTAL
Foreign legal
INTERNATION 0.52% 5,872,007
person
AL STOCK
INDEX FUND
Domestic natural
Qu Chunlin 0.38% 4,236,961
person
First Shanghai
Foreign legal
Securities 0.36% 4,001,704
person
Limited
Essence
International Foreign legal
0.33% 3,757,707
Securities (Hong person
Kong) Co., Ltd.
Top 10 holders of unconditional shares
Category of shares
Shareholder name Amount of shares without sales restriction Category of
Quantity
shares
Shenzhen Banglin Technologies RMB common
113,202,154 113,202,154
Development Co., Ltd. shares
Foreign shares
Shengjiu Investment Ltd. 95,688,766 listed in domestic 95,688,766
exchanges
RMB common
Fang Wei 34,071,739 34,071,739
shares
Gong Qing Cheng Shi Li He 26,791,488 RMB common 26,791,488
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
Investment Management Partnership shares
Enterprise (limited partner)
Foreign shares
Shenwan Hongyuan Securities
13,705,232 listed in domestic 13,705,232
(Hong Kong) Co., Ltd.
exchanges
Foreign shares
VANGUARD EMERGING
7,946,483 listed in domestic 7,946,483
MARKETS STOCK INDEX FUND
exchanges
VANGUARD TOTAL Foreign shares
INTERNATIONAL STOCK INDEX 5,872,007 listed in domestic 5,872,007
FUND exchanges
RMB common
Qu Chunlin 4,236,961 4,236,961
shares
Foreign shares
First Shanghai Securities Limited 4,001,704 listed in domestic 4,001,704
exchanges
Foreign shares
Essence International Securities
3,757,707 listed in domestic 3,757,707
(Hong Kong) Co., Ltd.
exchanges
Among the shareholders, Shenzhen Banglin Technology Development Co., Ltd. and Shengjiu
Investment Co., Ltd. are parties action-in-concert. Shenzhen Banglin Technology
Notes to top ten shareholder
Development Co., Ltd. and Gong Qing Cheng Shi Li He Investment Management Partnership
relationship or "action in concert"
Enterprise are related parties. The Company is not notified of other action-in-concert or
related parties among the other holders of current shares.
Top-10 common share shareholders
None
participating in margin trade (if any)
Agreed re-purchasing by the Company’s top 10 shareholders of common shares and top 10 shareholders of unconditional common
shares in the report period
□ Yes √ No
No agreed re-purchasing by the Company’s top 10 shareholders of common shares and top 10 shareholders of unconditional
common shares in the report period
2. Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end of
the report period
□ Applicable √ Inapplicable
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
III Significant Events
1. Major changes in accounting items and financial data in the report period and reasons
√ Applicable □ Inapplicable
In RMB
Balance on September Balance on December YOY change
Item Cause of change
30, 2019 31, 2018 (% )
Due to payment of mature
Notes receivable 90,091,337.35 140,139,692.84 -35.71%
notes
Mainly due to the increase
Other current assets 119,263,124.05 51,698,111.14 130.69% in the input tax to be
verified and to be deducted
mainly due to the increase
in investment in
Construction in process 95,403,024.12 58,269,452.72 63.73%
construction of the
Shanghai East China Base.
Mainly due to increase in
Short-term loans 724,000,000.00 208,000,000.00 248.08%
bank borrowings
Due to the transfer for
Prepayment received 138,808,823.95 278,577,848.54 -50.17% sales to settlement in the
period
Employees' wage payable 24,458,669.74 44,513,062.17 -45.05% Annual bonus paid
Mainly due to the annual
Taxes payable 20,872,749.79 107,709,999.19 -80.62% final settlement of the
corporate income tax
Non-current liabilities due Reclassified long-term
850,000,000.00 200,000,000.00 325.00%
in 1 year loans due within 1 year
Mainly due to the repayment
and reclassification of
Long-term loans 599,198,144.39 1,193,978,153.39 -49.81%
non-current liabilities
due in 1 year
Mainly due to the
Surplus reserves 54,042,195.07 120,475,221.40 -55.14% repurchase of B shares in
the current period
Total amount in this YOY change
Item Last period Cause of change
year (% )
Mainly due to the decrease
in real estate income which
Taxes and surcharges 47,749,346.11 139,027,527.35 -65.65%
is due to the decrease in
provision of the land VAT.
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
Due to increased investment
R&D cost 35,163,348.44 11,567,916.09 203.97%
in research and development
Due to the increase in
borrowings during the
period and the suspension
Financial expenses 75,982,086.31 51,121,831.76 48.63%
of capitalization of
interest expenses of Fangda
Town project
Due to the decrease in the
Investment income 6,163,431.10 57,877,044.56 -89.35% current wealth management
investment
Changes in the fair value of
Gain caused by changes in
- -34,326,342.25 100.00% the fund investment in the
fair value
previous period
Mainly due to the decrease
Income tax expenses 14,924,568.34 84,216,677.45 -82.28% in profits which is due to
the decrease in income tax
Mainly due to recognition
of income from the Shenzhen
Net profit 156,050,013.39 321,470,008.08 -51.46%
Fangda Town project and
decrease in the net profit
Mainly due to the decrease
Cash flow generated by
-408,455,390.94 112,612,558.74 -462.71% in cash flow from real
business operations, net
estate business activities
Mainly due to the increase
in net investment
expenditure during the
period, the increase in
Cash flow generated by
-398,879,702.81 91,103,672.34 -537.83% construction investment in
investment activities, net
construction projects and
investment real estate, and
the increase in investment
expenses of subsidiaries.
Mainly due to net increase
Net cash flow generated by
232,130,880.90 -431,042,206.35 153.85% in current period bank
financing activities
borrowings
2. Progress of key issues and its impacts and solutions
□ Applicable √ Inapplicable
Progress in the implementation of share repurchase
□ Applicable √ Inapplicable
Progress in the implementation of the reduction of shareholding shares by means of centralized bidding
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
□ Applicable √ Inapplicable
3. Commitments that have not been fulfilled by actual controller, shareholders, related parties,
acquirers of the Company
□ Applicable √ Inapplicable
There is no commitment that has not been fulfilled by actual controller, shareholders, related parties, acquirers of the Company
4. Forecast of operating performance in 2019
Warning and reasons of possible net loss or substantial change from the last period between the beginning of the year and the end of
the next report period
√ Applicable □ Inapplicable
Forecast: substantial decrease from the same period last year
Data type: within a period of time
Between beginning of the Same period last Change
year to the end of the next year
report period
Net profit forecast (in 20,000 to 30,000 224,616.46 Decrease 91.10% t 86.64%
RMB10,000) o
Basic earnings per share 0.18 to 0.27 1.91 Decrease 90.58% t 85.86%
(yuan/share) o
Result forecast note The main reason for the expected decline in 2019 results:
1. The sales of Shenzhen Fangda Town project is nearly completed, resulting in a decrease in
operating income and net profit;
2. In 2018, as the 1# building of Shenzhen Fangda Town Project wasrecognized as an
investment real estat, at the end of the period, the non recurring income of fair value change
generated by the end of the period's evaluation and appreciation increased the net profit
increased by approximately RMB 2.2 billion. In 2019, there was no such income from the
above business.
5. Securities investment
√ Applicable □ Inapplicable
In RMB
Accumu
Gain/los
lative
s caused Amount Amount
Initial Account Opening changes Closing
Securiti Abbrevi by purchas sold in Gain/los Account Capital
Code investm ing book in fair book
es ation changes ed in the the s ing item source
ent cost method value value value
in fair period period
accounti
value
ng into
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
the
income
account
Measure Transact
Jinxin
200,000 ment at 200,000 200,000 761,235 ional Self-ow
Fund 004400 Minxing 0.00 0.00
,000.00 fair ,000.00 ,000.00 .04 financia ned fund
Bond A
value l assets
Dongfan
g Huixin
Flexible
Configu
ration Measure Transact
Compou 200,000 ment at 200,000 200,000 783,043 ional Self-ow
Fund 002163 0.00 0.00
nd ,000.00 fair ,000.00 ,000.00 .06 financia ned fund
Securitie value l assets
s
Investm
ent Fund
Class C
400,000 400,000 400,000 1,544,2
Total -- 0.00 0.00 0.00 0.00 -- --
,000.00 ,000.00 ,000.00 78.10
Disclosure date of approval
by the Board of Directors September 10, 2018
of securities investment
Disclosure date of
securities investment
approval by the None
Shareholders’ Meeting (if
any)
6. Entrusted wealth management
√ Applicable □ Inapplicable
In RMB10,000
Due balance to be
Type Source of fund Amount Undue balance
recovered
Bank financial products Self-owned fund 54,828 499.09 0
Total 54,828 499.09 0
Specific circumstances of high-risk entrusted financing with large individual amount or low security, poor liquidity, and no cost
protection
□ Applicable √ Inapplicable
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
Entrusted financial management expected to fail to recover the principal or likely result in impairment
□ Applicable √ Inapplicable
7. Derivative investment
√ Applicable □ Inapplicable
In RMB10,000
Proporti
on of
closing
investm
Derivati Impairm ent Actual
Initial Amount Closing
ve Related Amount ent amount gain/los
Relation Initial Start End investm sold in investm
investm transacti Type in this provisio in the s in the
ship amount date date ent this ent
ent on period n (if closing report
amount period amount
operator any) net period
assets in
the
report
period
Shangha
Shangha
i January
i 2,535.7 July 13, 2,535.7 13,096. 12,059. 3,573.2
Futures No No 31, 0.71% 104.64
aluminu 6 2018 6 92 39 9
Exchan 2020
m
ge
2,535.7 2,535.7 13,096. 12,059. 3,573.2
Total -- -- 0.71% 104.64
6 6 92 39 9
Capital source Self-owned fund
Lawsuit (if any) None
Disclosure date of derivative
investment approval by the Board of October 31, 2017
Directors (if any)
Disclosure date of derivative
investment approval by the None
Shareholders’ Meeting (if any)
Risk analysis and control measures
To prevent the risk of fluctuation of raw material prices, the Company adopted the aluminum
for the derivative holding in the
futures exchanged at the domestic futures exchange to provide hedging for aluminum as a
report period (including without
raw material for the Company. The Company has set up and implemented the Provincial
limitation market, liquidity, credit,
Regulations on China Fangda Group Domestic Futures Hedging to prevent risks.
operation and legal risks)
Changes in the market price or fair Fair value of derivatives are measured at open prices in the futures market
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
value of the derivative in the report
period, the analysis of the derivative’
s fair value should disclose the
method used and related assumptions
and parameters.
Material changes in the accounting
policies and rules related to the
None
derivative in the report period
compared to last period
Opinions of independent directors on
the Company’s derivative None
investment and risk controlling
8. Reception of investigations, communications, or interviews in the reporting period
√ Applicable □ Inapplicable
Time/date Way Visitor Disclosure of information
Investor Relationship Record Form on
August 28, 2019 Onsite investigation Institution
www.cninfo.com.cn
9. Incompliant external guarantee
□ Applicable √ Inapplicable
The Company made no incompliant external guarantee in the report period.
10. Non-operating capital use by the controlling shareholder or related parties in the
reporting term
□ Applicable √ Inapplicable
The controlling shareholder and its affiliates occupied no capital for non-operating purpose of the Company during the report period.
11. Performance of poverty relieving responsibilities
(I) As of the disclosure date of this report, the Company has donated RMB824,000 for the precision poverty
alleviation project in 2019, as follows:
(1) Donated RMB100,000 to the Ganzhou Charity Federation of Jiangxi Province to fund the Ruijin City Charity Association to
purchase defibrillators at the Red Spot;
(2) donated RMB20,000 to two poverty-stricken villages in Luxi County, Pingxiang City, Jiangxi Province for the construction of
public facilities;
(3) Donated RMB2,000 to the Social Assistance Center of Luxiang Town, Jinshan District, Shanghai for charity assistance activities.
(4) In order to help the Lianhua County of Pingxiang City, Jiangxi Province to achieve poverty alleviation, the Company donated
500,000 yuan to Pingxiang City Charity Association of Jiangxi Province for the development of lily industry in Shanbei Village,
Liushi Township, Lianhua County, and Tianyu Village, Fanglou Town, Lianhua County.
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
(5) The Company donated RMB102,500 to the Jiangxi Kaixuan Foundation to help the poor students in Suichuan county, Ji'an city
and Jiangxi province.
(6) The Company donated RMB53,000 to the elder caring activity of the Shenzhen Longgang Dakang community.
(7) The Company donated RMB30,000 to the teenagers activity of the Shenzhen Longgang Dakang community.
(8) The Company donated RMB15,000 to the poor students at Zhenglong village, Shahe county, Zhanggong district, Ganzhou city,
Jiangxi province.
(9) The Company donated RMB1,500 to the CPC Shenzhen Property Management Industry Committee to purchase measure
equipment for the health center in the Liangshan Yi Autonomous Prefecture, Sichuan province.
(II) The Company will continue to fulfill its social responsibility for precision poverty alleviation, and make
donations from time to time based on business development.
12. Others
Real estate：
(1) Shenzhen Fangda Town Project: In the first three quarters of 2019, the Fangda Town project achieved a sales area of
2,966.37 square meters and an accumulated sales area of 85,376.87 square meters.
(2) Nanchang Fangda Center Project (Fangda Center Project: The project is located in Fenghuangzhou Area, Honggutan New
District, Nanchang City. Construction started in May 2018. The project covers an area of about 17,000 square meters and has a total
construction area of about 93,000 square meters. With a total construction area of 66,000 square meters, Jirong is a commercial
complex covering commercial, apartment and office buildings. The project plans to start pre-sale in the early 2020 and to complete at
the end of 2020. At present, the project construction is progressing in accordance with the expected engineering
nodes.
(3) Shenzhen Fangda Bangshen Industrial Park Project: The project is located in Fuhai sub-district, Bao'an District, Shenzhen. It
covers an area of 20,714.9 square meters and is currently an industrial plant. As of the end of the third quarter of 2019, the project has
been approved and established. The special planning phase has been applied for.
(4) Urban renewal project along the Dagang River in Henggang, Shenzhen: The project is located in Dakang Village, Yuanshan
Street, Longgang District, Shenzhen. The area of the project to be demolished is about 80,000 square meters. The update direction is
mainly residential function, and finally subject to government approval. The project work is currently being actively
promoted.
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
IV Financial Statements
1. Financial statements
1. Consolidated Balance Sheet
Prepared by: China Fangda Group Co., Ltd.
September 30, 2019
In RMB
Item September 30, 2019 December 31, 2018
Current asset:
Monetary capital 1,103,139,175.15 1,389,062,083.76
Settlement provision
Outgoing call loan
Transactional financial assets 9,990,899.17
Financial assets measured at fair
value with variations accounted into
current income account
Derivative financial assets 166,875.00
Notes receivable 90,091,337.35 140,139,692.84
Account receivable 2,136,208,395.20 1,920,075,031.85
Receivable financing
Prepayment 46,395,302.30 46,454,844.74
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance
contracts receivable
Other receivables 149,672,873.43 139,990,188.26
Including: interest receivable
Dividend receivable
Repurchasing of financial assets
Inventory 826,209,926.06 651,405,832.29
Contract assets
Assets held for sales
Non-current assets due in 1 year
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
Other current assets 119,263,124.05 51,698,111.14
Total current assets 4,481,137,907.71 4,338,825,784.88
Non-current assets:
Loan and advancement provided
Debt investment
Sellable financial assets 21,674,008.23
Other debt investment
Investment held until mature
Long-term receivable
Long-term share equity investment 60,623,286.80 70,105,657.88
Investment in other equity tools 21,674,008.23
Other non-current financial assets
Investment real estate 5,287,170,813.77 5,256,442,406.63
Fixed assets 473,321,353.16 455,274,241.83
Construction in process 95,403,024.12 58,269,452.72
Productive biological assets
Gas & petrol
Use right assets
Intangible assets 79,042,376.96 80,313,240.67
R&D expense
Goodwill
Long-term amortizable expenses 2,848,412.67 2,114,331.46
Deferred income tax assets 363,287,360.68 356,474,925.76
Other non-current assets 23,912,562.00 19,360,083.67
Total of non-current assets 6,407,283,198.39 6,320,028,348.85
Total of assets 10,888,421,106.10 10,658,854,133.73
Current liabilities
Short-term loans 724,000,000.00 208,000,000.00
Loans from Central Bank
Call loan received
Transactional financial liabilities
Financial liabilities measured at
fair value with variations accounted into
current income account
Derivative financial liabilities 1,625,725.00
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
Notes payable 574,310,069.62 507,864,518.19
Account payable 942,136,009.60 1,039,630,798.64
Prepayment received 138,808,823.95 278,577,848.54
Contract liabilities
Selling of repurchased financial
assets
Deposit received and held for
others
Entrusted trading of securities
Entrusted selling of securities
Employees' wage payable 24,458,669.74 44,513,062.17
Taxes payable 20,872,749.79 107,709,999.19
Other payables 842,141,293.22 813,118,699.84
Including: interest payable 2,411,435.97 2,098,971.44
Dividend payable
Fees and commissions payable
Reinsurance fee payable
Liabilities held for sales
Non-current liabilities due in 1
850,000,000.00 200,000,000.00
year
Other current liabilities 10,048,033.18 9,328,682.25
Total current liabilities 4,126,775,649.10 3,210,369,333.82
Non-current liabilities:
Insurance contract provision
Long-term loans 599,198,144.39 1,193,978,153.39
Bond payable
Including: preferred stock
Perpetual bond
Lease liabilities
Long-term payable
Long-term employees’ wage
payable
Anticipated liabilities 6,012,597.12 6,831,162.99
Deferred earning 10,879,551.33 10,401,161.30
Deferred income tax liabilities 1,043,689,588.60 1,042,086,700.35
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
Other non-current liabilities
Total of non-current liabilities 1,659,779,881.44 2,253,297,178.03
Total liabilities 5,786,555,530.54 5,463,666,511.85
Owner’s equity:
Share capital 1,123,384,189.00 1,155,481,686.00
Other equity tools
Including: preferred stock
Perpetual bond
Capital reserves 1,454,191.59 1,454,191.59
Less: Shares in stock 10,831,437.66
Other miscellaneous income 3,832,489.79 7,382,087.59
Special reserves
Surplus reserves 54,042,195.07 120,475,221.40
Common risk provisions
Retained profit 3,868,770,369.15 3,921,225,872.96
Total of owner’s equity belong to the
5,051,483,434.60 5,195,187,621.88
parent company
Minor shareholders’ equity 50,382,140.96
Total of owners’ equity 5,101,865,575.56 5,195,187,621.88
Total of liabilities and owner’s interest 10,888,421,106.10 10,658,854,133.73
Legal representative: Xiong Jianming CFO: Lin Kebing Accounting Manager: Wu Bohua
2. Balance Sheet of the Parent Company
In RMB
Item September 30, 2019 December 31, 2018
Current asset:
Monetary capital 122,357,849.68 410,118,157.55
Transactional financial assets
Financial assets measured at fair
value with variations accounted into
current income account
Derivative financial assets
Notes receivable 200,000,000.00
Account receivable 471,039.12
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
Receivable financing
Prepayment 369,977.96 6,733,047.16
Other receivables 2,381,200,854.60 822,543,653.04
Including: interest receivable
Dividend receivable 100,000,000.00
Inventory
Contract assets
Assets held for sales
Non-current assets due in 1 year
Other current assets 789,549.44 919,388.18
Total current assets 2,504,718,231.68 1,440,785,285.05
Non-current assets:
Debt investment
Sellable financial assets 21,674,008.23
Other debt investment
Investment held until mature
Long-term receivable
Long-term share equity investment 1,013,339,495.35 983,339,494.35
Investment in other equity tools 21,674,008.23
Other non-current financial assets
Investment real estate 293,570,141.37 309,189,866.37
Fixed assets 67,948,275.98 53,784,811.23
Construction in process
Productive biological assets
Gas & petrol
Use right assets
Intangible assets 1,878,062.26 2,112,301.97
R&D expense
Goodwill
Long-term amortizable expenses 707,499.62 917,499.68
Deferred income tax assets 41,874,360.60 34,555,598.81
Other non-current assets
Total of non-current assets 1,440,991,843.41 1,405,573,580.64
Total of assets 3,945,710,075.09 2,846,358,865.69
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
Current liabilities
Short-term loans 300,000,000.00 200,000,000.00
Transactional financial liabilities
Financial liabilities measured at
fair value with variations accounted into
current income account
Derivative financial liabilities
Notes payable
Account payable 606,941.85 676,941.85
Prepayment received 694,791.63 733,274.16
Contract liabilities
Employees' wage payable 1,037,729.43 2,145,763.39
Taxes payable 1,119,390.01 341,004.65
Other payables 545,462,539.20 300,006,406.51
Including: interest payable 1,207,576.41 740,208.33
Dividend payable
Liabilities held for sales
Non-current liabilities due in 1
500,000,000.00
year
Other current liabilities
Total current liabilities 1,348,921,392.12 503,903,390.56
Non-current liabilities:
Long-term loans 90,000,000.00 500,000,000.00
Bond payable
Including: preferred stock
Perpetual bond
Lease liabilities
Long-term payable
Long-term employees’ wage
payable
Anticipated liabilities
Deferred earning
Deferred income tax liabilities 63,979,716.40 64,130,617.41
Other non-current liabilities
Total of non-current liabilities 153,979,716.40 564,130,617.41
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
Total liabilities 1,502,901,108.52 1,068,034,007.97
Owner’s equity:
Share capital 1,123,384,189.00 1,155,481,686.00
Other equity tools
Including: preferred stock
Perpetual bond
Capital reserves 360,835.52 360,835.52
Less: Shares in stock 10,831,437.66
Other miscellaneous income 3,590,127.88 8,756,553.46
Special reserves
Surplus reserves 54,042,195.07 120,475,221.40
Retained profit 1,261,431,619.10 504,081,999.00
Total of owners’ equity 2,442,808,966.57 1,778,324,857.72
Total of liabilities and owner’s interest 3,945,710,075.09 2,846,358,865.69
3. Consolidated Income Statement of the Report Period
In RMB
Item Amount occurred in the current period Occurred in previous period
1. Total revenue 699,243,342.82 793,250,321.93
Incl. Business income 699,243,342.82 793,250,321.93
Interest income
Insurance fee earned
Fee and commission
received
2. Total business cost 666,684,444.58 674,600,862.14
Incl. Business cost 562,481,963.87 568,150,146.71
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Net insurance policy
responsibility reserves provided
Insurance policy dividend
paid
Reinsurance expenses
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
Taxes and surcharges 6,268,346.04 37,823,332.32
Sales expense 13,562,766.99 10,702,477.61
Administrative expense 37,409,946.41 37,002,879.24
R&D cost 20,460,675.32 3,572,516.18
Financial expenses 26,500,745.95 17,349,510.08
Including: interest cost 23,424,082.73 25,702,800.18
Interest income 1,208,273.71 3,207,162.41
Add: other gains 2,131,742.20 1,058,639.79
Investment gains “-” for loss) 2,107,033.94 31,632,282.15
Incl. Investment gains from
-156,637.53 -159,703.29
affiliates and joint ventures
Financial assets
derecognised as a result of amortized cost
Exchange gains ("-" for loss)
Net open hedge gains (“-” for
loss)
Gains from change of fair value
-121,506.67 -25,429,705.00
(“-“ for loss)
Credit impairment ("-" for loss) -18,366,483.61
Investment impairment loss
-11,717,054.18
("-" for loss)
Investment gains ("-" for loss) -8,050.57 -1,981,867.64
3. Operational profit ("-" for loss) 18,301,633.53 112,211,754.91
Plus: non-operational income 1,061,813.66 464,154.45
Less: non-operational expenditure 953,272.75 167,066.97
4. Gross profit ("-" for loss) 18,410,174.44 112,508,842.39
Less: Income tax expenses -9,094,691.37 21,170,497.50
5. Net profit ("-" for net loss) 27,504,865.81 91,338,344.89
(1) By operating consistency
1. Net profit from continuous
27,504,865.81 91,338,344.89
operation ("-" for net loss)
2. Net profit from discontinuous
operation ("-" for net loss)
(2) By ownership
1. Net profit attributable to the
27,468,258.38 91,338,344.89
owners of parent company
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
2. Minor shareholders’ equity 36,607.43
6. After-tax net amount of other misc.
227,053.45 1,286,962.78
incomes
After-tax net amount of other misc.
227,053.45 1,286,962.78
incomes attributed to parent's owner
(1) Other misc. incomes that cannot
be re-classified into gain and loss
1. Re-measure the change in
the defined benefit plan
2. Other comprehensive
income that cannot be transferred to
profit or loss under the equity method
3. Fair value change of
investment in other equity tools
4. Fair value change of the
company's credit risk
5. Others
(2) Other misc. incomes that will be
227,053.45 1,286,962.78
re-classified into gain and loss
1. Other comprehensive
income that can be transferred to profit or
loss under the equity method
2. Fair value change of other
debt investment
3. Change in the fair value of
financial asset for sale
4. Gains and losses from
changes in fair value of available-for-sale
financial assets
5. Held-to-mature
investment reclassified as gain and loss in
the financial assets for sales
6. Other credit investment
credit impairment provisions
7. Cash flow hedge reserve 127,075.00 1,232,080.00
8. Translation difference of
99,978.45 54,882.78
foreign exchange statement
9. Others
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
After-tax net of other misc. income
attributed to minority shareholders
7. Total of misc. incomes 27,731,919.26 92,625,307.67
Total of misc. incomes attributable
27,695,311.83 92,625,307.67
to the owners of the parent company
Total misc gains attributable to the
36,607.43
minor shareholders
8. Earnings per share:
(1) Basic earnings per share 0.02 0.08
(2) Diluted earnings per share 0.02 0.08
Net profit contributed by entities merged under common control in the report period was RMB0.00, net profit realized by parties
merged during the previous period is RMB0.00.
Legal representative: Xiong Jianming CFO: Lin Kebing Accounting Manager: Wu Bohua
4. Consolidated Income Statement of the Report Period
In RMB
Item Amount occurred in the current period Occurred in previous period
1. Turnover 7,375,435.58 7,795,537.50
Less: Operation cost 106,833.17 559,020.48
Taxes and surcharges 323,375.21 324,914.12
Sales expense 0.00
Administrative expense 5,985,937.55 5,790,565.51
R&D cost 0.00
Financial expenses 12,747,466.71 9,138,885.73
Including: interest cost 11,186,191.67 9,896,208.34
Interest income 72,058.89 408,881.16
Add: other gains 73,719.18
Investment gains (“-” for
1,000,481,381.24 11,500,427.84
loss)
Incl. Investment gains from
0.00
affiliates and joint ventures
Financial assets
derecognised as a result of amortized
cost
Net open hedge gains (“-”
for loss)
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
Gains from change of fair
0.00 -10,171,856.57
value (“-“ for loss)
Credit impairment ("-" for
1,191.25
loss)
Investment impairment loss
0.00 17,615.04
("-" for loss)
Investment gains ("-" for loss) 0.00 -55,328.84
2. Operational profit (“-” for loss) 988,768,114.61 -6,726,990.87
Plus: non-operational income 0.00 2,500.00
Less: non-operational expenditure 607,774.57 5,494.62
3. Gross profit (“-” for loss) 988,160,340.04 -6,729,985.49
Less: Income tax expenses -2,951,715.89
4. Net profit (“-” for net loss) 991,112,055.93 -6,729,985.49
(1) Net profit from continuous
991,112,055.93 -6,729,985.49
operation ("-" for net loss)
(2) Net profit from discontinuous
0.00
operation ("-" for net loss)
5. After-tax net amount of other misc.
incomes
(1) Other misc. incomes that
cannot be re-classified into gain and
loss
1. Re-measure the change
in the defined benefit plan
2. Other comprehensive
income that cannot be transferred to
profit or loss under the equity method
3. Fair value change of
investment in other equity tools
4. Fair value change of the
company's credit risk
5. Others
(2) Other misc. incomes that will
be re-classified into gain and loss
1. Other comprehensive
income that can be transferred to profit
or loss under the equity method
2. Fair value change of
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
other debt investment
3. Change in the fair value
of financial asset for sale
4. Gains and losses from
changes in fair value of
available-for-sale financial assets
5. Held-to-mature
investment reclassified as gain and loss
in the financial assets for sales
6. Other credit investment
credit impairment provisions
7. Cash flow hedge reserve
8. Translation difference of
foreign exchange statement
9. Others
6. Total of misc. incomes 991,112,055.93 -6,729,985.49
7. Earnings per share:
(1) Basic earnings per share
(2) Diluted earnings per share
5. Consolidated Income Statement Between the Beginning of the Year and End of the Report Period
In RMB
Item Amount occurred in the current period Occurred in previous period
1. Total revenue 2,125,134,289.81 2,235,301,218.46
Incl. Business income 2,125,134,289.81 2,235,301,218.46
Interest income
Insurance fee earned
Fee and commission
received
2. Total business cost 1,948,269,844.75 1,846,658,281.62
Incl. Business cost 1,628,547,934.43 1,503,636,322.43
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Net insurance policy
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
responsibility reserves provided
Insurance policy dividend
paid
Reinsurance expenses
Taxes and surcharges 47,749,346.11 139,027,527.35
Sales expense 40,738,405.49 37,762,618.85
Administrative expense 120,088,723.97 103,542,065.13
R&D cost 35,163,348.44 11,567,916.09
Financial expenses 75,982,086.31 51,121,831.76
Including: interest cost 63,900,969.21 56,940,394.38
Interest income 3,647,364.62 6,869,263.66
Add: other gains 6,133,192.71 3,757,831.37
Investment gains “-” for loss) 6,163,431.10 57,877,044.56
Incl. Investment gains from
-482,371.08 -1,230,704.06
affiliates and joint ventures
Financial assets
derecognised as a result of amortized cost
Exchange gains ("-" for loss)
Net open hedge gains (“-” for
loss)
Gains from change of fair value
-34,326,342.25
(“-“ for loss)
Credit impairment ("-" for loss) -22,736,143.99
Investment impairment loss
-13,572,017.23
("-" for loss)
Investment gains ("-" for loss) -35,159.35 -3,533,733.22
3. Operational profit ("-" for loss) 166,389,765.53 398,845,720.07
Plus: non-operational income 5,935,705.81 7,530,192.86
Less: non-operational expenditure 1,331,838.55 689,227.40
4. Gross profit ("-" for loss) 170,993,632.79 405,686,685.53
Less: Income tax expenses 14,924,568.34 84,216,677.45
5. Net profit ("-" for net loss) 156,069,064.45 321,470,008.08
(1) By operating consistency
1. Net profit from continuous
156,075,582.20 321,470,008.08
operation ("-" for net loss)
2. Net profit from discontinuous -6,517.75
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
operation ("-" for net loss)
(2) By ownership
1. Net profit attributable to the
156,050,013.39 321,470,008.08
owners of parent company
2. Minor shareholders’ equity 19,051.06
6. After-tax net amount of other misc.
1,616,827.78 -592,793.39
incomes
After-tax net amount of other misc.
1,616,827.78 -592,793.39
incomes attributed to parent's owner
(1) Other misc. incomes that cannot
be re-classified into gain and loss
1. Re-measure the change in
the defined benefit plan
2. Other comprehensive
income that cannot be transferred to
profit or loss under the equity method
3. Fair value change of
investment in other equity tools
4. Fair value change of the
company's credit risk
5. Others
(2) Other misc. incomes that will be
1,616,827.78 -592,793.39
re-classified into gain and loss
1. Other comprehensive
income that can be transferred to profit or
loss under the equity method
2. Fair value change of other
debt investment
3. Change in the fair value of
financial asset for sale
4. Gains and losses from
changes in fair value of available-for-sale
financial assets
5. Held-to-mature
investment reclassified as gain and loss in
the financial assets for sales
6. Other credit investment
credit impairment provisions
7. Cash flow hedge reserve 1,523,710.00 -606,921.25
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
8. Translation difference of
93,117.78 14,127.86
foreign exchange statement
9. Others
After-tax net of other misc. income
attributed to minority shareholders
7. Total of misc. incomes 157,685,892.23 320,877,214.69
Total of misc. incomes attributable
157,666,841.17 320,877,214.69
to the owners of the parent company
Total misc gains attributable to the
19,051.06
minor shareholders
8. Earnings per share:
(1) Basic earnings per share 0.14 0.28
(2) Diluted earnings per share 0.14 0.28
Net profit contributed by entities merged under common control in the report period was RMB0.00, net profit realized by parties
merged during the previous period is RMB0.00.
Legal representative: Xiong Jianming CFO: Lin Kebing Accounting Manager: Wu Bohua
6. Income Statement of the Parent Between the Beginning of the Year and to of the Report Period
In RMB
Item Amount occurred in the current period Occurred in previous period
1. Turnover 24,517,458.46 22,907,827.70
Less: Operation cost 3,603,421.23 1,232,598.73
Taxes and surcharges 969,078.70 975,716.94
Sales expense
Administrative expense 17,272,507.40 15,924,036.36
R&D cost
Financial expenses 34,116,846.72 16,687,577.76
Including: interest cost 28,509,177.79 18,446,237.53
Interest income 423,187.78 1,990,291.21
Add: other gains 307,786.17 114,556.59
Investment gains (“-” for
1,001,636,564.66 19,638,911.06
loss)
Incl. Investment gains from
affiliates and joint ventures
Financial assets
derecognised as a result of amortized
29
China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
cost
Net open hedge gains (“-”
for loss)
Gains from change of fair
-13,600,985.30
value (“-“ for loss)
Credit impairment ("-" for
5,923.64
loss)
Investment impairment loss
-81,061.84
("-" for loss)
Investment gains ("-" for loss) -55,902.90
2. Operational profit (“-” for loss) 970,505,878.88 -5,896,584.48
Plus: non-operational income 13,947.68 261,144.66
Less: non-operational expenditure 714,163.21 6,232.62
3. Gross profit (“-” for loss) 969,805,663.35 -5,641,672.44
Less: Income tax expenses -7,497,054.35 1,531,510.40
4. Net profit (“-” for net loss) 977,302,717.70 -7,173,182.84
(1) Net profit from continuous
977,302,717.70 -7,173,182.84
operation ("-" for net loss)
(2) Net profit from discontinuous
operation ("-" for net loss)
5. After-tax net amount of other misc.
incomes
(1) Other misc. incomes that
cannot be re-classified into gain and
loss
1. Re-measure the change
in the defined benefit plan
2. Other comprehensive
income that cannot be transferred to
profit or loss under the equity method
3. Fair value change of
investment in other equity tools
4. Fair value change of the
company's credit risk
5. Others
(2) Other misc. incomes that will
be re-classified into gain and loss
1. Other comprehensive
30
China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
income that can be transferred to profit
or loss under the equity method
2. Fair value change of
other debt investment
3. Change in the fair value
of financial asset for sale
4. Gains and losses from
changes in fair value of
available-for-sale financial assets
5. Held-to-mature
investment reclassified as gain and loss
in the financial assets for sales
6. Other credit investment
credit impairment provisions
7. Cash flow hedge reserve
8. Translation difference of
foreign exchange statement
9. Others
6. Total of misc. incomes 977,302,717.70 -7,173,182.84
7. Earnings per share:
(1) Basic earnings per share
(2) Diluted earnings per share
7. Consolidated Cash Flow Statement Between the Beginning of the Year and End of the Report Period
In RMB
Item Amount occurred in the current period Occurred in previous period
1. Net cash flow from business
operations:
Cash received from sales of
1,891,062,422.83 2,207,987,021.72
products and providing 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
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
insurance contract
Net cash received from reinsurance
business
Net increase of client deposit and
investment
Cash received as interest,
processing fee, and commission
Net increase of inter-bank fund
received
Net increase of repurchasing
business
Net cash received from trading
securities
Tax refunded 3,159,514.49 4,988,463.29
Other cash received from business
79,255,080.98 292,273,568.66
operation
Sub-total of cash inflow from business
1,973,477,018.30 2,505,249,053.67
operations
Cash paid for purchasing products
1,499,926,065.43 1,429,144,992.91
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 in funds dismantled
Cash paid for interest, processing
fee and commission
Cash paid for policy dividend
Cash paid to and for the staff 237,800,254.07 210,878,995.88
Taxes paid 211,775,200.67 272,518,173.65
Other cash paid for business
432,430,889.07 480,094,332.49
activities
Sub-total of cash outflow from business
2,381,932,409.24 2,392,636,494.93
operations
Cash flow generated by business
-408,455,390.94 112,612,558.74
operations, net
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
2. Cash flow generated by investment:
Cash received from investment
4,552,412,407.01 6,215,580,000.00
recovery
Cash received as investment profit 57,732,090.85 64,596,027.07
Net cash retrieved from disposal of
fixed assets, intangible assets, and other 13,225,319.48 16,523,904.33
long-term assets
Net cash received from disposal of
subsidiaries or other operational units
Other investment-related cash
received
Sub-total of cash inflow generated from
4,623,369,817.34 6,296,699,931.40
investment
Cash paid for construction of fixed
assets, intangible assets and other 138,895,689.84 49,609,863.23
long-term assets
Cash paid as investment 4,821,419,000.00 6,155,986,395.83
Net increase of loan against pledge
Net cash paid for acquiring
61,934,830.31
subsidiaries and other operational units
Other cash paid for investment
Subtotal of cash outflows 5,022,249,520.15 6,205,596,259.06
Cash flow generated by investment
-398,879,702.81 91,103,672.34
activities, net
3. Cash flow generated by financing
activities:
Cash received from investment
Incl. Cash received from
investment attracted by subsidiaries
from minority shareholders
Cash received from borrowed
939,219,991.00 708,000,000.00
loans
Other cash received from financing
39,406.61
activities
Subtotal of cash inflow from financing
939,259,397.61 708,000,000.00
activities
Cash paid to repay debts 368,000,000.00 780,577,298.43
Cash paid as dividend, profit, or 299,128,516.71 258,660,130.40
33
China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
interests
Incl. Dividend and profit paid by
subsidiaries to minority shareholders
Other cash paid for financing
40,000,000.00 99,804,777.52
activities
Subtotal of cash outflow from financing
707,128,516.71 1,139,042,206.35
activities
Net cash flow generated by financing
232,130,880.90 -431,042,206.35
activities
4. Influence of exchange rate changes
506,834.88 3,084,851.98
on cash and cash equivalents
5. Net increase in cash and cash
-574,697,377.97 -224,241,123.29
equivalents
Plus: Balance of cash and cash
956,190,890.68 931,285,535.55
equivalents at the beginning of term
6. Balance of cash and cash equivalents
381,493,512.71 707,044,412.26
at the end of the period
8. Cash Flow Statement of the Parent Between the Beginning of the Year and End of the Report Period
In RMB
Item Amount occurred in the current period Occurred in previous period
1. Net cash flow from business
operations:
Cash received from sales of
19,933,171.21 153,999,350.74
products and providing of services
Tax refunded
Other cash received from business
2,110,545,435.02 1,409,325,820.93
operation
Sub-total of cash inflow from business
2,130,478,606.23 1,563,325,171.67
operations
Cash paid for purchasing products
2,295,025.64 1,250,558.30
and services
Cash paid to and for the staff 12,369,917.61 10,320,094.96
Taxes paid 1,788,240.77 19,134,230.81
Other cash paid for business
3,522,929,091.82 1,684,835,834.03
activities
Sub-total of cash outflow from business 3,539,382,275.84 1,715,540,718.10
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
operations
Cash flow generated by business
-1,408,903,669.61 -152,215,546.43
operations, net
2. Cash flow generated by investment:
Cash received from investment
1,805,000,000.00 2,273,880,000.00
recovery
Cash received as investment profit 1,101,636,564.66 20,659,911.06
Net cash retrieved from disposal of
fixed assets, intangible assets, and other 5,000.00
long-term assets
Net cash received from disposal of
10,000,000.00
subsidiaries or other operational units
Other investment-related cash
received
Sub-total of cash inflow generated from
2,906,636,564.66 2,304,544,911.06
investment
Cash paid for construction of fixed
assets, intangible assets and other 52,697.00 576,678.00
long-term assets
Cash paid as investment 1,835,000,001.00 2,321,870,000.00
Net cash paid for acquiring
subsidiaries and other operational units
Other cash paid for investment
Subtotal of cash outflows 1,835,052,698.00 2,322,446,678.00
Cash flow generated by investment
1,071,583,866.66 -17,901,766.94
activities, net
3. Cash flow generated by financing
activities:
Cash received from investment
Cash received from borrowed
400,000,000.00 700,000,000.00
loans
Other cash received from financing
39,406.61
activities
Subtotal of cash inflow from financing
400,039,406.61 700,000,000.00
activities
Cash paid to repay debts 10,000,000.00 250,000,000.00
Cash paid as dividend, profit, or
252,206,781.54 199,919,295.82
interests
35
China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
Other cash paid for financing
99,804,777.52
activities
Subtotal of cash outflow from financing
262,206,781.54 549,724,073.34
activities
Net cash flow generated by financing
137,832,625.07 150,275,926.66
activities
4. Influence of exchange rate changes
405.76 -169,472.11
on cash and cash equivalents
5. Net increase in cash and cash
-199,486,772.12 -20,010,858.82
equivalents
Plus: Balance of cash and cash
281,594,621.80 310,049,329.68
equivalents at the beginning of term
6. Balance of cash and cash equivalents
82,107,849.68 290,038,470.86
at the end of the period
II. Financial Statement Adjustment
1. The first implementation of the new financial instruments guidelines, new income standards, new lease
standards, adjustments the first implementation of the financial statements at the beginning of the year
√ Applicable □ Inapplicable
Consolidated Balance Sheet
In RMB
Item December 31, 2018 January 1, 2019 Adjustment
Current asset:
Monetary capital 1,389,062,083.76 1,389,062,083.76
Settlement provision
Outgoing call loan
Transactional financial
assets
Financial assets
measured at fair value with
variations accounted into
current income account
Derivative financial
assets
Notes receivable 140,139,692.84 140,139,692.84
Account receivable 1,920,075,031.85 1,932,765,689.04 12,690,657.19
Receivable financing
36
China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
Prepayment 46,454,844.74 46,454,844.74
Insurance receivable
Reinsurance receivable
Provisions of
Reinsurance contracts
receivable
Other receivables 139,990,188.26 142,135,200.55 2,145,012.29
Including: interest
receivable
Dividend
receivable
Repurchasing of
financial assets
Inventory 651,405,832.29 651,405,832.29
Contract assets
Assets held for sales
Non-current assets due
in 1 year
Other current assets 51,698,111.14 51,698,111.14
Total current assets 4,338,825,784.88 4,353,661,454.36 14,835,669.48
Non-current assets:
Loan and advancement
provided
Debt investment
Sellable financial assets 21,674,008.23 -21,674,008.23
Other debt investment
Investment held until
mature
Long-term receivable
Long-term share equity
70,105,657.88 70,105,657.88
investment
Investment in other
21,674,008.23 21,674,008.23
equity tools
Other non-current
financial assets
Investment real estate 5,256,442,406.63 5,230,896,067.50
Fixed assets 455,274,241.83 455,274,241.83
37
China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
Construction in process 58,269,452.72 58,269,452.72
Productive biological
assets
Gas & petrol
Use right assets
Intangible assets 80,313,240.67 80,313,240.67
R&D expense
Goodwill
Long-term amortizable
2,114,331.46 2,114,331.46
expenses
Deferred income tax
356,474,925.76 356,474,925.76 -3,305,914.45
assets
Other non-current assets 19,360,083.67 19,360,083.67
Total of non-current assets 6,320,028,348.85 6,316,722,434.40 -3,305,914.45
Total of assets 10,658,854,133.73 10,670,383,888.76 11,529,755.03
Current liabilities
Short-term loans 208,000,000.00 208,000,000.00
Loans from Central
Bank
Call loan received
Transactional financial
liabilities
Financial liabilities
measured at fair value with
variations accounted into
current income account
Derivative financial
1,625,725.00 1,625,725.00
liabilities
Notes payable 507,864,518.19 507,864,518.19
Account payable 1,039,630,798.64 1,039,630,798.64
Prepayment received 278,577,848.54 278,577,848.54
Contract liabilities
Selling of repurchased
financial assets
Deposit received and
held for others
Entrusted trading of
38
China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
securities
Entrusted selling of
securities
Employees' wage
44,513,062.17 44,513,062.17
payable
Taxes payable 107,709,999.19 107,709,999.19
Other payables 813,118,699.84 813,118,699.84
Including: interest
2,098,971.44 2,098,971.44
payable
Dividend
payable
Fees and commissions
payable
Reinsurance fee payable
Liabilities held for sales
Non-current liabilities
200,000,000.00 200,000,000.00
due in 1 year
Other current liabilities 9,328,682.25 9,328,682.25
Total current liabilities 3,210,369,333.82 3,210,369,333.82
Non-current liabilities:
Insurance contract
provision
Long-term loans 1,193,978,153.39 1,193,978,153.39
Bond payable
Including: preferred
stock
Perpetual
bond
Lease liabilities
Long-term payable
Long-term employees’
wage payable
Anticipated liabilities 6,831,162.99 6,831,162.99
Deferred earning 10,401,161.30 10,401,161.30
Deferred income tax
1,042,086,700.35 1,042,086,700.35
liabilities
Other non-current
39
China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
liabilities
Total of non-current
2,253,297,178.03 2,253,297,178.03
liabilities
Total liabilities 5,463,666,511.85 5,463,666,511.85
Owner’s equity:
Share capital 1,155,481,686.00 1,155,481,686.00
Other equity tools
Including: preferred
stock
Perpetual
bond
Capital reserves 1,454,191.59 1,454,191.59
Less: Shares in stock 10,831,437.66 10,831,437.66
Other miscellaneous
7,382,087.59 2,215,662.01 -5,166,425.58
income
Special reserves
Surplus reserves 120,475,221.40 121,000,081.43 524,860.03
Common risk provisions
Retained profit 3,921,225,872.96 3,937,397,193.54 16,171,320.58
Total of owner’s equity
5,195,187,621.88 5,206,717,376.91 11,529,755.03
belong to the parent company
Minor shareholders’
equity
Total of owners’ equity 5,195,187,621.88 5,206,717,376.91 11,529,755.03
Total of liabilities and
10,658,854,133.73 10,670,383,888.76 11,529,755.03
owner’s interest
About the adjustment
In 2017, the Ministry of Finance revised and released the "Accounting Standards for Business Enterprises No. 22 - Recognition
and Measurement of Financial Instruments", "Accounting Standards for Business Enterprises No. 23 - Transfer of Financial Assets",
"Accounting Standards for Business Enterprises No. 24 - Hedge Accounting" "Accounting Standards for Business Enterprises No. 37
- Financial Instruments Presentation" (hereinafter collectively referred to as the "New Financial Instruments Standards"), and requires
enterprises listed in China to implement the above accounting standards from January 1, 2019.
In accordance with the above requirements, the Company will implement the new financial instrument standard from January 1,
2019 and reclassify the original financial assets into transactional financial assets, derivative financial assets, other equity instrument
investments and other non-current financial assets. Non-transaction equity instrument investment is designated as financial assets
measured at fair value through other comprehensive income and is presented in “other equity instrument investment” items. At the
same time, the loss provision prepared by the original financial instrument standard is adjusted to be in accordance with the new
financial instrument. According to the regulations, it is not necessary to repeat the data of the 2018 comparative period when
preparing the report for each period of 2019, but it is necessary to make retrospective adjustments to the retained earnings or other
40
China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
comprehensive income at the beginning of 2019.
Balance Sheet of the Parent Company
In RMB
Item December 31, 2018 January 1, 2019 Adjustment
Current asset:
Monetary capital 410,118,157.55 410,118,157.55
Transactional financial
assets
Financial assets
measured at fair value with
variations accounted into
current income account
Derivative financial
assets
Notes receivable 200,000,000.00 200,000,000.00
Account receivable 471,039.12 471,039.12 8,595.25
Receivable financing
Prepayment 6,733,047.16 6,733,047.16
Other receivables 822,543,653.04 822,543,653.04 100,970.95
Including: interest
receivable
Dividend
100,000,000.00 100,000,000.00
receivable
Inventory
Contract assets
Assets held for sales
Non-current assets due
in 1 year
Other current assets 919,388.18 919,388.18
Total current assets 1,440,785,285.05 1,440,894,851.25 109,566.20
Non-current assets:
Debt investment
Sellable financial assets 21,674,008.23 -21,674,008.23
Other debt investment
Investment held until
mature
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China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
Long-term receivable
Long-term share equity
983,339,494.35 983,339,494.35
investment
Investment in other
21,674,008.23 21,674,008.23
equity tools
Other non-current
financial assets
Investment real estate 309,189,866.37 309,189,866.37
Fixed assets 53,784,811.23 53,784,811.23
Construction in process
Productive biological
assets
Gas & petrol
Use right assets
Intangible assets 2,112,301.97 2,112,301.97
R&D expense
Goodwill
Long-term amortizable
917,499.68 917,499.68
expenses
Deferred income tax
34,555,598.81 34,528,207.26 -27,391.55
assets
Other non-current assets
Total of non-current assets 1,405,573,580.64 1,405,546,189.09 -27,391.55
Total of assets 2,846,358,865.69 2,846,441,040.34 82,174.65
Current liabilities
Short-term loans 200,000,000.00 200,000,000.00
Transactional financial
liabilities
Financial liabilities
measured at fair value with
variations accounted into
current income account
Derivative financial
liabilities
Notes payable
Account payable 676,941.85 676,941.85
Prepayment received 733,274.16 733,274.16
42
China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
Contract liabilities
Employees' wage
2,145,763.39 2,145,763.39
payable
Taxes payable 341,004.65 341,004.65
Other payables 300,006,406.51 300,006,406.51
Including: interest
740,208.33 740,208.33
payable
Dividend
payable
Liabilities held for sales
Non-current liabilities
due in 1 year
Other current liabilities
Total current liabilities 503,903,390.56 503,903,390.56
Non-current liabilities:
Long-term loans 500,000,000.00 500,000,000.00
Bond payable
Including: preferred
stock
Perpetual
bond
Lease liabilities
Long-term payable
Long-term employees’
wage payable
Anticipated liabilities
Deferred earning
Deferred income tax
64,130,617.41 64,130,617.41
liabilities
Other non-current
liabilities
Total of non-current
564,130,617.41 564,130,617.41
liabilities
Total liabilities 1,068,034,007.97 1,068,034,007.97
Owner’s equity:
Share capital 1,155,481,686.00 1,155,481,686.00
43
China Fangda Group Co., Ltd. 2019 Q3 Report (Full)
Other equity tools
Including: preferred
stock
Perpetual
bond
Capital reserves 360,835.52 360,835.52
Less: Shares in stock 10,831,437.66 10,831,437.66
Other miscellaneous
8,756,553.46 3,590,127.88 -5,166,425.58
income
Special reserves
Surplus reserves 120,475,221.40 121,000,081.43 524,860.03
Retained profit 504,081,999.00 508,805,739.20 4,723,740.20
Total of owners’ equity 1,778,324,857.72 1,778,407,032.37 82,174.65
Total of liabilities and
2,846,358,865.69 2,846,441,040.34 82,174.65
owner’s interest
About the adjustment
In 2017, the Ministry of Finance revised and released the "Accounting Standards for Business Enterprises No. 22 - Recognition
and Measurement of Financial Instruments", "Accounting Standards for Business Enterprises No. 23 - Transfer of Financial Assets",
"Accounting Standards for Business Enterprises No. 24 - Hedge Accounting" "Accounting Standards for Business Enterprises No. 37
- Financial Instruments Presentation" (hereinafter collectively referred to as the "New Financial Instruments Standards"), and requires
enterprises listed in China to implement the above accounting standards from January 1, 2019.
In accordance with the above requirements, the Company will implement the new financial instrument standard from January 1,
2019 and reclassify the original financial assets into transactional financial assets, derivative financial assets, other equity instrument
investments and other non-current financial assets. Non-transaction equity instrument investment is designated as financial assets
measured at fair value through other comprehensive income and is presented in “other equity instrument investment” items. At the
same time, the loss provision prepared by the original financial instrument standard is adjusted to be in accordance with the new
financial instrument. According to the regulations, it is not necessary to repeat the data of the 2018 comparative period when
preparing the report for each period of 2019, but it is necessary to make retrospective adjustments to the retained earnings or other
comprehensive income at the beginning of 2019.
2. Description of the 2019 implementation of the new financial instrument criteria, new lease standard
retrospective adjustment of the previous period comparison data
□ Applicable √ Inapplicable
3. Auditor’s Report
Whether the Q3 report is audited
□ Yes √ No
The Q3 Report is not audited.
44
