China Fangda Group Co., Ltd. The 1st Quarterly Report 2009 (Full Text)
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China Fangda Group Co., Ltd.
The 1st Quarterly Report 2009 (Full text)
§1 Important Declaration
1.1 The Board of Directors and the directors of the Company guarantee that there are no significant omissions,
fictitious or misleading statements carried in the Report and we will accept individual and joint responsibilities for
the truthfulness, accuracy and completeness of the Report.
1.2 Directors other than the followings presented the Board Meeting on which this report was examined:
1.3 The financial statements carried in this report are not audited.
1.4 Mr. Xiong Jianming, the Chairman of Board, Mr. Lin Kebin, the Financial Principal declares: the Financial
Report carried in this report is authentic and completed.
§2 Company Profile
2.1 Financial highlights
In RMB Yuan
Name of the
directors Position Reason for not presenting the meeting Name of consignee
Dong Likun Independent Director For business Guo Jinlong
Xiong Jianwei Director For business Wang Shengguo
Ended this report term Ended previous year Changed by (%)
Gross Assets 1,468,699,436.32 1,395,570,931.42 5.24%
Owners’ Equity Attributable to the Parent
Company 574,472,195.68 559,715,901.95 2.64%
Share capital 426,786,359.00 426,786,359.00 0.00%
Net asset per share attributable to the
owners of the parent company 1.35 1.31 3.05%
This report term Same period last year Changed by (%)
Turnover 160,791,976.14 151,188,681.43 6.35%
Net profit attributable to the owners of
parent company 10,653,332.57 8,886,267.57 19.89%
Cash flow generated by business
operation, net -2,410,866.00 -21,593,985.53 ----
Net Cash flow per share generated by
business operation -0.01 -0.05 ----
Basic gains per share 0.025 0.021 19.05%
Diluted gains per share 0.025 0.021 19.05%
Net earnings / asset 1.85% 1.59% 0.26%
Net earnings / capital ratio after
deducting of non-recurring gain/loss 0.85% -1.66% ----China Fangda Group Co., Ltd. The 1st Quarterly Report
2009 (Full Text)
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Statements on non-recurring gain/loss items:
2.2 Total of shareholders and the top 10 holders of unconditional shares
in shares
Non-recurring gain and loss items
Amount of the period
from the beginning of
year to the end of report
term
Government subsidies accounted into current gain/loss account, other than those closely related to the
Company’s common business, comply with the national policy and continues to enjoy at certain fixed
rate or amount.
184,000.00
Gain/loss from debt reorganization 99,442.26
Gain/loss from change of fair value of transactional asset and liabilities, and investment gains from
disposal of transactional financial assets and liabilities and sellable financial assets, other than valid
period value instruments related to the Company’s common businesses
5,445,702.36
Other non-business income and expenditures other than the above 47,382.14
Influenced amount of minority shareholders’ equity -994.31
Total 5,775,532.45
The Company have sold the shares of Xugong Technologies and Sihuan Biology in the report term, and have
made investment gains
amounted RMB5,445,702.36.
Total shareholders at the end of the
report period (accounts) 65,680 (including 43,109 A-share holders, and 22,571 B-share holders)
Top ten holders of the shares without subscription limitation
Full name of shareholder Amount of unconditional shares held at the end of
report term Categories
Onforce International Ltd. 21,077,141 Foreign shares placed in domestic
exchange
Shenzhen Banglin Technologies
Development Co., Ltd. 14,593,150 RMB common shares
Shenzhen Shilihe Investment Co.,
Ltd. 13,739,761 RMB common shares
Gu Feng 2,307,603 Foreign shares placed in domestic
exchange
Chen Jinbiao 2,118,930 Foreign shares placed in domestic
exchange
Cao Yifan 2,051,670 Foreign shares placed in domestic
exchange
Zhang Yongjie 808,080 Foreign shares placed in domestic
exchange
Li Jiehua 792,655 RMB common shares
Lou Yuhong 791,446 Foreign shares placed in domestic
exchange
Wu Shuhua 756,000 RMB common sharesChina Fangda Group Co., Ltd. The 1st Quarterly Report 2009 (Full Text)
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§3 Significant Events
3.1 Details and causations of major change in major accounting subjects and financial indices
√ applicable □ not applicable
3.2 Progress of significant events, their influence, countermeasures, and analysis
√ applicable □ not applicable
3.3 Fulfilling of commitment issues made by the Company, shareholder, or substantial controller
□applicable √ not applicable
3.4 Estimated accumulative profit from the year beginning to the end of the next report period may be of
deficits; or in comparison with the same period of the previous year, give the warning of great change and
the notice to the reasons.
□applicable √ not applicable
3.5 Major events needs to be explained
3.5.1 Investment in securities
□applicable √ not applicable
3.5.2 Reception of investigations, communications, or interviews
1. Increasing of bank loans caused the increasing of short-term loans and monetary capital increased by
37.48% and 34.46%
respectively from the beginning of report term.
2. Development transferred to intangible asset of RMB5.62 million in the report term.
3. Decreasing of investment gains comparing with the same period of previous year was caused by major
decreasing of sellable
financial assets in the report term.
(1) Hangzhou City Xinyu Building No. 2, 3, 5, 6 energy saving glass curtain wall project was obtained at
the end of December 2007
with contract value of RMB163.70 million. It was started in May 2008 and planned to be completed in July
2009.
(2) The Company won in the bidding of Xiamen International Logistics Center for the glass curtain wall
engineering section I and II.
The contract was RMB83.0476 million. It was started at end of July 2008 and scheduled to complete in July
2009.
(3) The overall contract of Shenzhen Metro Line No.1 PSD system is valued RMB79.8586 million, and adopted
the door machine
and controlling unit developed by the Company. The testing machine has passed the test for one-million-time
reliability. At present
installation in Baishizhou Station and Gaoxin Station has accomplished. This project will be finished in
June 2011.
(4) The contract for the PSD system of Line No.2 of Shenzhen Metro was RMB169.256 million. The sample
machine has passed onemillion-
time reliability test. Installation was scheduled for June 2009, and is expected to complete in March 2011.
(5) Contract for Nanjing Metro is valued RMB59.52 million. The test machine has been tested for over 350
thousand times at present,
and is scheduled for installation in April 2009, and to be finished in May 2010.
(6) Supplying contract of Australian Dollar 100 Million was started in August 2007. The sales income
realized up to the end of report
term was RMB22.78 million.
Time/date Place Way Visitors Main content involved and material
provided
Feb 25, 2009 The Company Onsite investigation
Guangdong
Development
Securities
Business operation and future
development.China Fangda Group Co., Ltd. The 1st Quarterly Report 2009 (Full Text)
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3.5.3 Statement on other significant issues
√ applicable □ not applicable
(1) The Company neither provided capital to the controlling shareholder or its associates, nor provided any
guarantee to outside
parties with illegal procedures;
(2) There is no shareholder holding over 30% of the Company’s shares, and there is no such share-
increasing plan raised by
shareholder with over 30% of the Company’s shares;
(3) No cash dividend was distributed in the report term;
(4) No major contract engaged in the report term.China Fangda Group Co., Ltd. The 1st Quarterly Report 2009
(Full Text)
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§4 Attachments
4.1 Balance Sheet
Prepared by: China Fangda Group Co., Ltd. March 31st 2009 in RMB yuan
Items
Balance at the end of term Balance at the beginning of year
Consolidated Parent company Consolidated Parent company
Current asset:
Monetary capital 284,559,944.87 48,281,488.75 211,638,447.88 3,702,206.23
Settlement provision
Outgoing call loan
Transactional financial assets 1,562,400.00
Notes receivable 8,985,790.29 7,273,375.72 10,903,790.29 7,273,375.72
Account receivable 295,450,518.91 15,938,790.17 309,967,793.35 20,133,345.21
Prepayment 15,163,841.74 11,295,504.53 183,333.33
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts receivable
Interest receivable
Dividend receivable
Other account receivable 46,064,147.55 190,136,655.29 41,902,271.80 200,081,536.53
Repurchasing of financial assets
Inventories 155,677,708.79 146,209,954.16
Non-current asset due in 1 year
Other current asset 5,002,081.68 5,000,000.00
Total of current asset 812,466,433.83 261,630,309.93 736,917,762.01 231,373,797.02
Non-current assets
Loans and payment on other’s behalf disbursed
Disposable financial asset 17,699,500.00 14,068,500.00
Expired investment in possess
Long-term receivable
Long-term share equity investment 4,506,859.69 333,423,850.60 4,506,859.69 333,423,850.60
Investment real estate 261,734,400.32 253,549,300.32 261,734,400.32 253,549,300.32
Fixed assets 268,131,377.20 48,892,806.19 273,756,378.47 49,360,083.88
Construction in process 10,100,814.08 9,429,233.19
Engineering goods
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 65,710,455.40 10,646,974.06 60,834,577.77 10,786,917.08
R&D expense 2,158,194.66 7,783,177.73
Goodwill 8,197,817.29 8,197,817.29
Long-term amortizable expenses 52,029.00
Differed income tax asset 17,941,554.85 18,342,224.95
Other non-current asset
Total of non-current assets 656,233,002.49 646,512,931.17 658,653,169.41 647,120,151.88
Total of assets 1,468,699,436.32 908,143,241.10 1,395,570,931.42 878,493,948.90China Fangda Group Co., Ltd.
The 1st Quarterly Report 2009 (Full Text)
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Current liabilities
Short-term loans 315,350,000.00 229,382,471.49
Loan from Central Bank
Deposit received and hold for others
Call loan received
Trade off financial liabilities
Notes payable 56,235,069.13 40,015,000.00 58,705,049.15
Account payable 124,964,479.42 7,228,054.93 133,711,152.93 8,732,970.63
Prepayment received 94,014,510.31 693,045.60 101,965,594.16 739,302.70
Selling of repurchased financial assets
Fees and commissions receivable
Employees’ wage payable 4,557,880.75 4,674,596.67
Tax payable 29,731,745.91 1,978,642.74 31,245,712.21 2,922,025.31
Interest payable 374,841.37 374,841.37 590,697.62 374,841.37
Dividend payable
Other account payable 24,146,525.24 154,880,332.27 20,928,588.30 151,776,238.60
Reinsurance fee payable
Insurance contract provision
Entrusted trading of securities
Entrusted selling of securities
Non-current liability due in 1 year
Other current liability 1,248,190.86 1,016,379.24 1,016,379.24 1,016,379.24
Total of current liability 650,623,242.99 206,186,296.15 582,220,241.77 165,561,757.85
Non-current liabilities
Long-term borrowings 170,000,000.00 170,000,000.00 179,000,000.00 179,000,000.00
Bond payable
Long-term payable
Special payable
Expected liabilities
Differed income tax liability 3,801,882.54 2,100,492.25
Other non-recurring liabilities 3,338,694.50 4,930,000.00
Total of non-current liabilities 177,140,577.04 170,000,000.00 186,030,492.25 179,000,000.00
Total of liability 827,763,820.03 376,186,296.15 768,250,734.02 344,561,757.85
Owners’ equity (or shareholders’ equity)
Capital paid in (or share capital) 426,786,359.00 426,786,359.00 426,786,359.00 426,786,359.00
Capital reserves 65,198,269.67 33,267,012.81 61,095,308.51 33,267,012.81
Less: Shares in stock
Surplus reserves 6,388,697.44 6,388,697.44 6,388,697.44 6,388,697.44
Common risk provision
Retained profit 76,098,869.57 65,514,875.70 65,445,537.00 67,490,121.80
Different of foreign currency translation
Total of owner’s equity belong to the parent
company 574,472,195.68 531,956,944.95 559,715,901.95 533,932,191.05
Minor shareholders’ equity 66,463,420.61 67,604,295.45
Total of owners’ equity 640,935,616.29 531,956,944.95 627,320,197.40 533,932,191.05
Total of liabilities and owners’ equity 1,468,699,436.32 908,143,241.10 1,395,570,931.42
878,493,948.90China Fangda Group Co., Ltd. The 1st Quarterly Report 2009 (Full Text)
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4.2 Income Statement
Prepared by: China Fangda Group Co., Ltd. Jan-Mar 2009 RMB Yuan
Items
Amount of the Current Term Amount of the Previous Term
Consolidated Parent company Consolidated Parent company
I. Total revenue 160,791,976.14 7,148,875.24 151,188,681.43 9,170,857.17
Incl. Business income 160,791,976.14 7,148,875.24 151,188,681.43 9,170,857.17
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 158,217,775.07 9,218,164.65 160,839,617.67 12,863,411.14
Incl. Business cost 128,872,779.67 1,544,699.41 131,245,144.32 4,610,638.88
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Net insurance policy reserves provided
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 3,976,144.13 275,656.00 3,934,736.50 264,574.59
Sales expense 5,607,026.90 561,530.68 4,777,412.07 233,473.82
Administrative expense 15,915,025.10 3,640,408.66 14,839,613.01 3,790,127.29
Financial expenses 5,971,666.85 3,317,386.97 6,042,711.77 3,964,596.56
Asset impairment loss -2,124,867.580 -121,517.070 0.00 0.00
Plus: Gains from change of fair value (“-“ for loss) 1,562,400.00 0.00 -964,658.890 -969,981.890
Investment gain (“-“ for loss) 5,445,702.36 0.00 20,025,327.31 0.00
Incl. Investment gains from affiliates 0.00 0.00 0.00 0.00
Gains from currency exchange (“-“ for loss)
III. Operational profit (“-“ for loss) 9,582,303.43 -2,069,289.410 9,409,732.18 -4,662,535.860
Plus: Non business income 417,127.66 95,868.82 516,486.49 102,176.00
Less: Non-business expenses 86,303.26 1,825.51 1,321,785.93 614,600.82
Incl. Loss from disposal of non-current assets 0.00 0.00 0.00 0.00
IV. Gross profit (“-“ for loss) 9,913,127.83 -1,975,246.100 8,604,432.74 -5,174,960.680
Less: Income tax expenses 400,670.10 0.00 958.14 0.00
V. Net profit (“-“ for net loss) 9,512,457.73 -1,975,246.100 8,603,474.60 -5,174,960.680
Net profit attributable to the owners of parent
company 10,653,332.57 0.00 8,886,267.57 0.00
Minor shareholders’ equity -1,140,874.840 0.00 -282,792.970 0.00
VI. Earnings per share:
(I) Basic earnings per share 0.02 0.02
(II) Diluted earnings per share 0.02 0.02China Fangda Group Co., Ltd. The 1st Quarterly Report 2009 (Full
Text)
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4.3 Cash Flow Statement
Prepared by: China Fangda Group Co., Ltd. Jan-Mar 2009 RMB Yuan
Items
Amount of the Current Term Amount of the Previous Term
Consolidated Parent
company Consolidated Parent
company
I. Net cash flow from business operation
Cash received from sales of products and providing
of services 173,568,387.03 10,401,987.36 166,752,279.68 10,035,949.72
Net increase of customer deposits and capital kept
for brother company
Net increase of loans from central bank
Net increase of inter-bank loans from other financial
bodies
Cash received against original insurance contract
Net cash received from reinsurance business
Net increase of client deposit and investment
Net increase of trade financial asset disposal
Cash received as interest, processing fee, and
commission
Net increase of inter-bank fund received
Net increase of repurchasing business
Tax returned 129,037.13 0.00 626,602.46 0.00
Other cash received from business operation 10,564,947.67 445,599.45 5,145,716.46 658,810.76
Sub-total of cash inflow from business activities 184,262,371.83 10,847,586.81 172,524,598.60 10,694,760.48
Cash paid for purchasing of merchandise and
services 144,006,988.88 3,502,892.41 154,938,941.49 9,445,411.63
Net increase of client trade and advance
Net increase of savings in central bank and brother
company
Cash paid for original contract claim
Cash paid for interest, processing fee and
commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 14,584,259.63 1,621,632.83 13,617,948.05 1,670,438.63
Taxes paid 6,999,234.60 1,662,404.91 5,986,021.09 805,268.47
Other cash paid for business activities 21,082,754.72 1,019,662.33 19,575,673.50 3,821,183.91
Sub-total of cash outflow from business activities 186,673,237.83 7,806,592.48 194,118,584.13 15,742,302.64
Cash flow generated by business operation, net -2,410,866.00 3,040,994.33 -21,593,985.53 -5,047,542.16
II. Cash flow generated by investing
Cash received from investment retrieving 3,000,195.95 0.00 7,255,800.75 0.00
Cash received as investment gains 5,522,154.19 0.00 20,025,327.31 0.00
Net cash retrieved from disposal of fixed assets,
intangible assets, and other long-term assets 0.00 0.00 2,315,360.00 0.00
Net cash received from disposal of subsidiaries or
other operational units 0.00 0.00 0.00 0.00
Other investment-related cash received 0.00 0.00 0.00 0.00
Sub-total of cash inflow due to investment
activities 8,522,350.14 0.00 29,596,488.06 0.00
Cash paid for construction of fixed assets, intangible 568,805.07 0.00 3,901,331.22 156,410.00China Fangda
Group Co., Ltd. The 1st Quarterly Report 2009 (Full Text)
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4.4 Auditors’ Report
Auditor’s opinion: not audited.
China Fangda Group Co., Ltd.
The Board of Directors
April 17. 2009
assets and other long-term assets
Cash paid as investment 3,131,669.25 0.00 4,377,288.92 0.00
Net increase of loan against pledge
Net cash received from subsidiaries and other
operational units 0.00 0.00 0.00 0.00
Other cash paid for investment activities 0.00 0.00 35,000.00 0.00
Sub-total of cash outflow due to investment
activities 3,700,474.32 0.00 8,313,620.14 156,410.00
Net cash flow generated by investment 4,821,875.82 0.00 21,282,867.92 -156,410.00
III. Cash flow generated by financing
Cash received as investment 0.00 0.00 0.00 0.00
Incl. Cash received as investment from minor
shareholders
Cash received as loans 164,425,824.27 53,859,401.97 0.00 37,518,290.59
Cash received from bond placing
Other financing-related cash received 0.00 0.00 3,000,000.00 0.00
Subtotal of cash inflow from financing activities 164,425,824.27 53,859,401.97 3,000,000.00 37,518,290.59
Cash to repay debts 88,260,907.74 9,000,000.00 27,424,107.50 10,000,000.00
Cash paid as dividend, profit, or interests 5,572,018.94 3,320,919.01 6,608,193.00 3,972,471.75
Incl. Dividend and profit paid by subsidiaries to
minor shareholders
Other cash paid for financing activities 71,900.00 0.00 28,690.78 0.00
Subtotal of cash outflow due to financing
activities 93,904,826.68 12,320,919.01 34,060,991.28 13,972,471.75
Net cash flow generated by financing 70,520,997.59 41,538,482.96 -31,060,991.28 23,545,818.84
IV. Influence of exchange rate alternation on cash and
cash equivalents -10,510.42 -194.77 -106,193.24 -39,055.05
V. Net increase of cash and cash equivalents 72,921,496.99 44,579,282.52 -31,478,302.13 18,302,811.63
Plus: Balance of cash and cash equivalents at the
beginning of term 211,638,447.88 3,702,206.23 171,607,741.24 2,608,321.55
VI. Balance of cash and cash equivalents at the end of
term 284,559,944.87 48,281,488.75 140,129,439.11 20,911,133.18
