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南江B:2016年第一季度报告全文(英文版)2016-04-30  

						                      承德南江股份有限公司 2016 年第一季度报告全文




Chengde Nanjiang Co., Ltd.
 First Quarterly Report 2016




         April 2016




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                                                 承德南江股份有限公司 2016 年第一季度报告全文




                           Section I. Important Notes

Board of Directors and the Supervisory Committee of Chengde Nanjiang Co.,
Ltd. (hereinafter referred to as the Company) and its directors, supervisors and
senior executives should guarantee the reality, accuracy and completion of the
quarterly report, there are no any fictitious statements, misleading statements or
important omissions carried in this report, and shall take legal responsibilities,
individual and/or joint.
All Directors are attended the Board Meeting for Quarterly Report deliberation.
Zhao Yongsheng, Person in charge of the Company, Zhao Yongsheng, person in
charger of accounting works and Liu Guofeng, person in charger of accounting
organ (accounting officer) hereby confirm that the Financial Report of this
Quarterly Report is authentic, accurate and complete.




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                                                                                  承德南江股份有限公司 2016 年第一季度报告全文




           Section II. Main financial data and changes of shareholders

I. Main accounting data and financial indexes

Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accounting
error correction or not
√Yes □ No

                                                                                                                Changes of this period
                                                                            Same period of last year            over same period of last
                                                   Current Period
                                                                                                                         year

                                                                      Before adjustment    After adjustment        After adjustment
Operating income (RMB)                               46,379,194.49         76,700,090.57      26,398,533.74                      75.69%
Net       profit          attributable      to
shareholders         of        the       listed        1,078,731.20        -6,512,864.22       -6,204,376.06                    117.39%
company(RMB)
Net profit attributable to
shareholders of the listed company
                                                       1,147,902.15        -6,556,527.19       -6,248,039.03                    118.37%
after deducting non-recurring gains
and losses(RMB)
Net cash flow arising from operating
                                                     30,707,074.03        -13,134,238.84      -13,134,238.84                    333.79%
activities(RMB)

Basic earnings per share (RMB/Share)                          0.002                -0.01                -0.01                   120.00%
Diluted earnings per share (RMB/Share)                        0.002                -0.01                -0.01                   120.00%
Weighted average ROE (%)                                     0.31%               -2.27%                -2.16%                     2.47%

                                                                                                                    Changes of this
                                                                             At the end of last year             period-end over same
                                                  At the end of the
                                                                                                                period-end of last year
                                                  reporting period
                                                                      Before adjustment    After adjustment        After adjustment

Total assets (RMB)                                  864,868,178.16       854,793,263.22      854,793,263.22                       1.18%
Net assets attributable to shareholder of
                                                    353,334,854.76       352,256,123.56      352,256,123.56                       0.31%
listed company (RMB)

The causes of changes in accounting policies and the situation of accounting error correction
Some sold products of Nanjiang Huijing Tiandi Community project developed and constructed by the Company has not been
handled with property right registration procedures, resulting in the recognition criteria not completely meeting the revenue, the
company has adjusted the data of this part after the confirmation of accountants, resulting in the differences between the
above-mentioned financial index and the financial indicators related to the disclosed quarterly reports reports.
Items of non-recurring gains and losses
√ Applicable    □ Not applicable

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                                                                                                                                  In RMB
                                                                         Amount from year-begin to
                                  Item                                                                                 Note
                                                                                  period-end

Other non-operating income and expenditure except for the
                                                                                            -69,170.95
aforementioned items

Total                                                                                       -69,170.95                  --

Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Extraordinary Profit/loss, explain reasons
□ Applicable √ Not applicable
In reporting period, the Company has no particular about items defined as recurring profit (gain)/loss according to the lists of
extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to
the Public --- Extraordinary Profit/loss

II. Total number of shareholders at the end of this report period and top ten shareholders
1. Number of common shareholders and preference shareholders with voting rights recovered and top ten common
shareholders
                                                                                                                                 In shares

                                                                          Total preference shareholders
Total    number     of   common                                           with voting rights recovered at
shareholders at the end of report                                19,555                                                                0
period                                                                    end of reporting period (if
                                                                          applicable)

                                                           Top ten shareholders
                                              Proportion                            Amount of         Number of share pledged/frozen
                              Nature of                     Amount of shares
  Shareholder’s name                          of shares                           non-tradable
                             shareholder                          held                                State of share          Amount
                                                 held                               shares held

                          Domestic
Wang Dong                                         29.49%         208,324,800            208,324,800 Frozen                    208,324,800
                          natural person

China Everbright          Overseas legal
                                                  13.28%          93,833,093                      0
Securities (HK) Limited person

GUOTAI JUNAN
                          Overseas legal
SECURITIES(HONGK                                   6.87%          48,524,062                      0
                          person
ONG) LIMITED

                          Domestic
Chengde North
                          non-state-owned          2.62%          18,517,651             18,517,651
Industrial Corporation
                          legal person

                          Domestic
Wang Zhengsong                                     1.89%          13,327,891             13,327,891
                          natural person

                          Domestic
Wang Wensheng                                      1.03%            7,258,007                     0
                          natural person


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                          Domestic
Zhou Haihong                                     0.95%           6,708,495                  0
                          natural person

                          Domestic
Li Tianyun                                       0.73%           5,158,000                  0
                          natural person

Shanghai H.K.             Overseas legal
                                                 0.71%           4,995,920                  0
Wangguo Securities        person

                          Domestic
Chen Yan                                         0.57%           4,023,256                  0
                          natural person

                                           Top ten shareholders with tradable shares held

                                                                                                            Type of shares
             Shareholder’s name                     Amount of tradable shares held
                                                                                                         Type           Amount

                                                                                                Domestically
China Everbright Securities (HK) Limited                                          93,833,093 listed foreign                  93,833,093
                                                                                                shares

                                                                                                Domestically
GUOTAI JUNAN
                                                                                  48,524,062 listed foreign                  48,524,062
SECURITIES(HONGKONG) LIMITED
                                                                                                shares

                                                                                                Domestically
Wang Wensheng                                                                       7,258,007 listed foreign                  7,258,007
                                                                                                shares

                                                                                                Domestically
Zhou Haihong                                                                        6,708,495 listed foreign                  6,708,495
                                                                                                shares

                                                                                                Domestically
Li Tianyun                                                                          5,158,000 listed foreign                  5,158,000
                                                                                                shares

                                                                                                Domestically
Shanghai H.K. Wangguo Securities                                                    4,995,920 listed foreign                  4,995,920
                                                                                                shares

                                                                                                Domestically
Chen Yan                                                                            4,023,256 listed foreign                  4,023,256
                                                                                                shares

                                                                                                Domestically
Zhao Ziying                                                                         3,286,616 listed foreign                  3,286,616
                                                                                                shares

VANGUARD TOTAL                                                                                  Domestically
INTERNATIONAL STOCK INDEX                                                           3,182,875 listed foreign                  3,182,875
FUND                                                                                            shares

                                                                                                Domestically
Peng Wei                                                                            2,978,525                                 2,978,525
                                                                                                listed foreign


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                                                                                              shares

                                            The Company is unknown whether there exists associated relationship or belongs to
Explanation on associated relationship
                                            consistent actor regulated by “management method for acquisition of listed company”
among the aforesaid shareholders
                                            among the above said shareholders.

Explanation on top ten shareholders
                                            N/A
involving margin business (if applicable)
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 shareholders with preferred stock held and shares held by top ten shareholders with preferred
stock held
□ Applicable √ Not applicable




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                                                                                       承德南江股份有限公司 2016 年第一季度报告全文




                                                Section III. Significant Events

I. Particulars about material changes in items of main accounting statement and financial
index and explanations of reasons

√Applicable □Not applicable

Seria           Item               Ending balance         Opening balance                Changes                           Reasons
  l                                                                           Amount changed        Ratio
                                                                                                   changed
  1                                                                                                          Due to an increase in funds
        Long-term        equity
                                         27,343,974.43         2,343,974.43        25,000,000.00   1066.56% invested         in      Dongguan
        investment
                                                                                                             Dongfeng in current period

  2 Operation income                                                                                         Due      to     an    increase    in
                                         46,379,194.49        26,398,533.74        19,980,660.75     75.69% carry-over incomes from real
                                                                                                             estate in current period
  3 Operation cost                                                                                           Due to an increase in cost
                                         36,430,367.17        26,996,960.32         9,433,406.85     34.94% from real estate in current
                                                                                                             period
  4 Operation taxes and                                                                                      Due to an increase in taxes
        additional                                                                                           and      dues    on     carry-over
                                          2,726,869.98            17,761.16         2,709,108.82 15252.99%
                                                                                                             incomes from real estate in
                                                                                                             current period
  5 Operation profit                                                                                         Due to an increase in profits
                                            559,568.39        -6,783,369.20         7,342,937.59    108.25% of carry-over incomes from
                                                                                                             real estate in current period
  6                                                                                                          Due      to     an    increase    in
        Net cash flow from
                                         30,707,074.03       -13,134,238.84        43,841,312.87    333.79% house-selling funds in current
        operation activity
                                                                                                             period
  7                                                                                                          Because the funds invested in
        Net cash flow from
                                         -26,108,450.99         -142,355.00        -25,966,095.99 -18240.38% Dongguan         Dongfeng        has
        investment activity
                                                                                                             been paid in current period


II. Analysis and explanation of significant events and their influence and solutions

□ Applicable        √ Not applicable

III. Commitments that the company, shareholders, actual controller, offeror, directors, supervisors, senior
management or other related parties have fulfilled during the reporting period and have not yet fulfilled by
the end of reporting period
√Applicable □Not applicable
                                                                                             Commitme Commitmen
Commitments Promise               Type of                 Content of commitments                                           Implementation
                                                                                              nt date   t term

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                                                                                       承德南江股份有限公司 2016 年第一季度报告全文


                             commitment
                                     s
Commitments
for    Share
Merger
Reform
                                             1. Commitments in aspect of independency of
                                             listed company:
                                             For the equity changes, that is 208,324,800
                                             shares of Chengde Dalu Co., Ltd held by
                                             Chen Rong was transfer, Wang Dong
                                             guarantee there are no influence on the
                                             independent       of   employee,      financial,
                             Commitmen
                                             institution, business and integrity of assets of
                             ts in
                                             Chengde Dalu Co., Ltd. After transaction,
Commitments Controlli horizontal
                                             Chengde Dalu Co., Ltd still has the ability of                 Duration of
in report of     ng          competition,                                                       2012-04-2
                                             independent operation and owes independent                     the           Implementing
acquisition or sharehol related                                                                 4
                                             legal person, and continues to owes the                        Company
equity change der            transactions,
                                             independency of institution, assts, employees,
                             and capital
                                             production and financial. 2. Commitments for
                             occupying
                                             horizontal competition: after 208,324,800
                                             shares of Chengde Dalu Co., Ltd held by
                                             Chen Rong was transfer, Wang Dong
                                             guarantee there are no or potential horizontal
                                             competition between the Chengde Dalu Co.,
                                             Ltd and Wang Dong and related parties of
                                             Wang Dong

                                                                                                                          After auditing, net
                                                                                                                          profit for year of
                                                                                                                          2015 under the
                                                                                                                          name of Runhua
                                             The performance compensation commitment:                                     RW (Tianjin)
                                             net profit (deducting non-recurring gains and                                International Trade
                             Performance
                                             losses) for 2012, 2013, 2014 and 2015 for                                    Co., Ltd. was
                             commitment
                 Controlli                   Runhua RW (Tianjin) International Trade                                      -9.2722 million
Commitments                  and
                 ng                          Co., Ltd. Respectively can’t be less than 2013-04-1                         Yuan, which is
in assets                    compensatio                                                                    2012-2015
                 sharehol                    306,300 Yuan, 904,000 Yuan, 1,500,000 Yuan 0                                 short of the
reorganization               n
                 der                         and 3,400,000 yean. If the actual net profit is                              commitment of
                             arrangement
                                             less than the promised, the controlling                                      performance for
                             s
                                             shareholders shall perform the obligations of                                year of 2015. the
                                             profit compensation accordingly.                                             Company will
                                                                                                                          supervise and urge
                                                                                                                          the controlling
                                                                                                                          shareholder to
                                                                                                                          implement


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                                                                                                               compensation
                                                                                                               commitment
                                                                                                               according to the
                                                                                                               auditing results.

Commitments
in initial
public offering
or re-financing

Commitments
in stock option
incentive plan

Other
commitments
for medium
and small
shareholders

Completed on
                  Yes
time

IV. Predict of the business performance from January to June 2016
Warnings and reasons of the predict that the cumulative net profit from the begin of the year to the end of next report period may be
loss or have great changes comparing with the same period of last year
□Applicable       √Not applicable


V. Securities Investment

□ Applicable √ Not applicable

No security investment in Period.

VI. Derivative investment

□ Applicable √ Not applicable

No derivative investment in the Period.

VII. Registration form for receiving research, communication and interview in the report
period
√ Applicable □ Not applicable
               Time                         Way                          Type               Basic situation index of investigation

                                                                                          Progress of the suspension of the
2016-01-20                        Telephone communication   Individual
                                                                                          Company, no materials required

                                                                                          Operation of the Company, no materials
2016-02-24                        Telephone communication   Individual
                                                                                          required

2016-03-17                        Telephone communication   Individual                    Current condition of the Company, no


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                                                                                         materials required

VIII. Guarantee outside against the regulation

□Applicable √Not applicable

The Company had no guarantee outside against the regulation in the reporting period.
IX. Non-operational fund occupation from controlling shareholders and its related party
□ Applicable √ Not applicable
The Company had no non-operational fund occupation form controlling shareholders and its related party in the period.




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                                           Section IV. Financial statement

I. Financial statement
1. Consolidated balance sheet
Prepared by Chengde Nanjiang Co., Ltd.
                                                        2016-03-31
                                                                                                                     In RMB

                      Item                          Closing balance                           Opening balance

Current assets:

       Monetary funds                                                 92,836,040.02                         88,237,416.98

       Settlement provisions

       Capital lent

       Financial liability measured by fair
value and with variation reckoned into
current gains/losses

       Derivative financial assets

       Notes receivable

       Accounts receivable                                              649,087.53                               156,113.53

       Accounts paid in advance                                        1,192,732.25                             1,105,122.95

       Insurance receivable

       Reinsurance receivables
     Contract reserve of reinsurance
receivable
       Interest receivable

       Dividend receivable

       Other receivables                                              87,520,928.87                         88,149,302.51

       Purchase restituted finance asset

       Inventories                                               599,537,144.06                            619,241,374.72

       Divided into assets held for sale
       Non-current asset due within one
year
       Other current assets                                           33,133,044.43                         33,761,457.51

Total current assets                                             814,868,977.16                            830,650,788.20

Non-current assets:

       Loans and payments on behalf

       Finance asset available for sales


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     Held-to-maturity investment

     Long-term account receivable

     Long-term equity investment                 27,343,974.43                          2,343,974.43

     Investment property

     Fixed assets                                 9,388,743.16                          8,905,699.17

     Construction in progress                         1,040.00

     Engineering material

     Disposal of fixed asset

     Productive biological asset                   103,960.37                            148,509.76

     Oil and gas asset

     Intangible assets                            6,359,821.58                          6,392,510.57
    Expense         on    Research        and
                                                   392,149.86                            172,416.18
Development
     Goodwill
    Long-term          expenses      to    be
                                                   432,500.66                            202,353.97
apportioned
     Deferred income tax asset                     775,645.41                            775,645.41

     Other non-current asset                      5,201,365.53                          5,201,365.53

Total non-current asset                          49,999,201.00                         24,142,475.02

Total assets                                    864,868,178.16                        854,793,263.22

Current liabilities:

     Short-term loans

     Loan from central bank
    Absorbing deposit and interbank
deposit
     Capital borrowed

     Financial liability measured by fair
value and with variation reckoned into
current gains/losses

     Derivative financial liability

     Notes payable

     Accounts payable                            26,014,313.37                         35,013,234.30

     Accounts received in advance               454,746,415.11                        435,991,938.57
     Selling     financial        asset    of
repurchase
   Commission             charge          and
commission payable
     Wage payable                                    -4,846.84                              9,929.42



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                                                      承德南江股份有限公司 2016 年第一季度报告全文


       Taxes payable                             121,581.10                              21,343.61

       Interest payable

       Dividend payable

       Other accounts payable                  12,493,352.36                         12,746,101.70

       Reinsurance payables

       Insurance contract reserve

       Security trading of agency

       Security sales of agency

       Divided into liability held for sale
       Non-current liabilities due within 1
year
Other current liabilities

Total current liabilities                     493,370,815.10                        483,782,547.60

Non-current liabilities:

       Long-term loans

       Bonds payable

         Including: preferred stock

                 Perpetual capital
securities

       Long-term account payable

       Long-term wages payable

       Special accounts payable

       Projected liabilities

       Deferred income

       Deferred income tax liabilities

       Other non-current liabilities

Total non-current liabilities

Total liabilities                             493,370,815.10                        483,782,547.60

Owner’s equity:

       Share capital                          706,320,000.00                        706,320,000.00

       Other equity instrument

         Including: preferred stock

                 Perpetual capital
securities

       Capital public reserve                 459,871,788.64                        452,767,424.55

       Less: Inventory shares


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     Other comprehensive income

     Reasonable reserve

     Surplus public reserve                                            76,791,550.17                         76,791,550.17

     Provision of general risk

     Retained profit                                              -889,648,484.05                          -883,622,851.16
Total owner’s equity attributable to
                                                                  353,334,854.76                            352,256,123.56
parent company
Minority interests                                                     18,162,508.30                         18,754,592.06

Total owner’s equity                                             371,497,363.06                            371,010,715.62

Total liabilities and owner’s equity                             864,868,178.16                            854,793,263.22


Legal representative: Zhao Yongsheng                               Person in charger of accounting works: Zhao Yongsheng
Person in charger of accounting organ: Liu Fengguo


2. Balance Sheet of Parent Company

                                                                                                                   In RMB

                     Item                            Closing balance                           Opening balance

Current assets:

     Monetary funds                                                    29,347,077.54                         25,647,536.08

     Financial liability measured by fair
value and with variation reckoned into
current gains/losses

     Derivative financial assets

     Notes receivable
     Accounts receivable                                                 548,352.00

     Account paid in advance                                             990,000.00                              10,000.00

     Interest receivable

     Dividends receivable

     Other receivables                                                 14,139,318.21                         13,893,565.73

     Inventories                                                  583,669,087.02                            599,128,751.32

     Divided into assets held for sale

     Non-current assets maturing within
one year

     Other current assets                                              32,023,648.85                         32,139,201.03

Total current assets                                              660,717,483.62                            670,819,054.16

Non-current assets:



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     Available-for-sale financial assets

     Held-to-maturity investments

     Long-term receivables

     Long-term equity investments           227,284,836.37                        202,284,836.37

     Investment property

     Fixed assets                             1,855,020.05                          1,906,708.89

     Construction in progress

     Project materials

     Disposal of fixed assets

     Productive biological assets

     Oil and natural gas assets

     Intangible assets

     Research and development costs

     Goodwill

     Long-term deferred expenses               174,756.20                            130,322.92

     Deferred income tax assets                    750.00                                750.00

     Other non-current assets

Total non-current assets                    229,315,362.62                        204,322,618.18

Total assets                                890,032,846.24                        875,141,672.34

Current liabilities:

     Short-term borrowings

     Financial liability measured by fair
value and with variation reckoned into
current gains/losses

     Derivative financial liability

     Notes payable

     Accounts payable                        17,054,673.17                         25,479,538.71

     Accounts received in advance           454,102,887.53                        430,730,271.19

     Wage payable                                  628.22                                628.22

     Taxes payable                               18,749.07                              2,174.06

     Interest payable

     Dividend payable

     Other accounts payable                 243,876,525.36                        246,243,610.32

     Divided into liability held for sale




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       Non-current liabilities due within 1
year

       Other current liabilities

Total current liabilities                       715,053,463.35                        702,456,222.50

Non-current liabilities:

       Long-term loans

       Bonds payable

         Including: preferred stock

                 Perpetual capital
securities

       Long-term account payable

       Long-term wages payable

       Special accounts payable

       Projected liabilities

       Deferred income

       Deferred income tax liabilities

       Other non-current liabilities

Total non-current liabilities

Total liabilities                               715,053,463.35                        702,456,222.50

Owners’ equity:

       Share capita                             706,320,000.00                        706,320,000.00

       Other equity instrument

         Including: preferred stock

                 Perpetual capital
securities

       Capital public reserve                   452,767,424.55                        452,767,424.55

       Less: Inventory shares

       Other comprehensive income

       Reasonable reserve

       Surplus reserve                           76,791,550.17                         76,791,550.17

       Retained profit                        -1,060,899,591.83                    -1,063,193,524.88

Total owner’s equity                           174,979,382.89                        172,685,449.84

Total liabilities and owner’s equity           890,032,846.24                        875,141,672.34




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3. Consolidated Profit Statement

                                                                                                                 In RMB

                      Item                         Current Period                            Last Period

I. Total operating income                                           46,379,194.49                          26,398,533.74

Including: Operating income                                         46,379,194.49                          26,398,533.74

         Interest income

         Insurance gained

         Commission charge and commission
income

II. Total operating cost                                            45,819,626.10                          33,181,902.94

Including: Operating cost                                           36,430,367.17                          26,996,960.32

         Interest expense

         Commission charge and commission
expense

         Cash surrender value

         Net amount of expense of
compensation

         Net amount of withdrawal of
insurance contract reserve

         Bonus expense of guarantee slip

         Reinsurance expense

         Operating tax and extras                                    2,726,869.98                             17,761.16

         Sales expenses                                               282,787.51                             515,114.80

         Administration expenses                                     6,413,012.54                           5,668,146.41

         Financial expenses                                            -33,411.10                             -16,079.75

         Losses of devaluation of asset

         Add: Changing income of fair
value(Loss is listed with “-”)

         Investment income (Loss is listed
with “-”)

         Including: Investment income on
affiliated company and joint venture

         Exchange income (Loss is listed
with “-”)

III. Operating profit       (Loss is listed with
                                                                      559,568.39                           -6,783,369.20
“-”)


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                                                       承德南江股份有限公司 2016 年第一季度报告全文


     Add: Non-operating income                      60,482.07                           389,950.54

            Including: Disposal gains of
non-current asset

     Less: Non-operating expense                   129,653.02                           346,287.57

            Including: Disposal loss of
non-current asset

IV. Total Profit    (Loss is listed with “-”)    490,397.44                         -6,739,706.23

     Less: Income tax expense                        3,750.00

V. Net profit (Net loss is listed with “-”)      486,647.44                         -6,739,706.23

    Net profit attributable to owner’s of
                                                  1,078,731.20                        -6,204,376.06
parent company

  Minority shareholders’ gains and
                                                  -592,083.76                          -535,330.17
losses

VI. Net after-tax of other comprehensive
income

  Net after-tax of other comprehensive
income attributable to owners of parent
company

         (I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss

              1. Changes as a result of
re-measurement of net defined benefit
plan liability or asset

              2. Share of the other
comprehensive income of the investee
accounted for using equity method which
will not be reclassified subsequently to
profit and loss

     (II) Other comprehensive income
items which will be reclassified
subsequently to profit or loss

              1. Share of the other
comprehensive income of the investee
accounted for using equity method which
will be reclassified subsequently to profit
or loss

              2. Gains or losses arising
from changes in fair value of
available-for-sale financial assets


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                                                                                承德南江股份有限公司 2016 年第一季度报告全文


               3. Gains or losses arising
from reclassification of held-to-maturity
investment as available-for-sale financial
assets

               4. The effect hedging portion
of gains or losses arising from cash flow
hedging instruments

               5. Translation differences
arising on translation of foreign currency
financial statements

               6. Other

  Net after-tax of other comprehensive
income attributable to minority
shareholders

VII. Total comprehensive income                                             486,647.44                               -6,739,706.23

     Total comprehensive income
                                                                          1,078,731.20                               -6,204,376.06
attributable to owners of parent Company

     Total comprehensive income
                                                                           -592,083.76                                -535,330.17
attributable to minority shareholders

VIII. Earnings per share:

         (i) Basic earnings per share                                            0.002                                       -0.01

         (ii) Diluted earnings per share                                         0.002                                       -0.01

Enterprise combine under the same control in the Period, the combined party realized net profit of 0 Yuan before combination, and
realized 0 Yuan at last period for combined party


Legal representative: Zhao Yongsheng                                     Person in charger of accounting works: Zhao Yongsheng
Person in charger of accounting organ: Liu Fengguo


4. Profit Statement of Parent Company

                                                                                                                            In RMB

                     Item                               Current Period                                Last Period

I. Operating income                                                      35,691,817.41                                 258,212.49

     Less: Operating cost                                                26,749,014.87                                 258,212.49

            Operating tax and extras                                      2,610,025.31

            Sales expenses                                                  94,575.00                                  155,110.76

            Administration expenses                                       3,949,373.25                               3,417,073.44

            Financial expenses                                              -11,544.07                                  -18,541.09

            Losses of devaluation of asset



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                                                  承德南江股份有限公司 2016 年第一季度报告全文


         Add: Changing income of fair
value(Loss is listed with “-”)

            Investment income (Loss is
listed with “-”)

            Including: Investment income
on affiliated company and joint venture

II. Operating profit      (Loss is listed
                                             2,300,373.05                        -3,553,643.11
with “-”)

   Add: Non-operating income

              Including: Disposal gains of
non-current asset

         Less: Non-operating expense            6,440.00                             4,005.43

              Including: Disposal loss of
non-current asset

III. Total Profit    (Loss is listed with
                                             2,293,933.05                        -3,557,648.54
“-”)

         Less: Income tax expense

IV. Net profit (Net loss is listed with
                                             2,293,933.05                        -3,557,648.54
“-”)

V. Net after-tax of other comprehensive
income

          (I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss

                1. Changes as a result of
re-measurement of net defined benefit
plan liability or asset

                2. Share of the other
comprehensive income of the investee
accounted for using equity method
which will not be reclassified
subsequently to profit and loss

          (II) Other comprehensive income
items which will be reclassified
subsequently to profit or loss

                1. Share of the other
comprehensive income of the investee
accounted for using equity method
which will be reclassified subsequently
to profit or loss


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                                                                     承德南江股份有限公司 2016 年第一季度报告全文


              2. Gains or losses arising
from changes in fair value of
available-for-sale financial assets

              3. Gains or losses arising
from reclassification of held-to-maturity
investment as available-for-sale
financial assets

              4. The effect hedging
portion of gains or losses arising from
cash flow hedging instruments

              5. Translation differences
arising on translation of foreign
currency financial statements

              6. Other

VI. Total comprehensive income                                 2,293,933.05                           -3,557,648.54

VII. Earnings per share:

        (i) Basic earnings per share

        (ii) Diluted earnings per share


5. Consolidated Cash Flow Statement

                                                                                                            In RMB

                   Item                     Current Period                              Last Period

I. Cash flows arising from operating
activities:

       Cash received from selling
commodities and providing labor                              71,490,509.55                            89,208,054.81
services

       Net increase of customer deposit
and interbank deposit

       Net increase of loan from central
bank

       Net increase of capital borrowed
from other financial institution

       Cash received from original
insurance contract fee

  Net cash received from reinsurance
business

    Net increase of insured savings and



                                                                                                                 21
                                                       承德南江股份有限公司 2016 年第一季度报告全文


investment

       Net increase of amount from
disposal financial assets that measured
by fair value and with variation
reckoned into current gains/losses

       Cash received from interest,
commission charge and commission

       Net increase of capital borrowed

       Net increase of returned business
capital

       Write-back of tax received

       Other cash received concerning
                                                2,612,164.23                           9,634,942.23
operating activities

Subtotal of cash inflow arising from
                                               74,102,673.78                          98,842,997.04
operating activities

       Cash     paid      for    purchasing
commodities         and    receiving   labor   27,337,527.31                          85,195,111.63
service

       Net increase of customer loans
and advances

       Net increase of deposits in central
bank and interbank

       Cash paid for original insurance
contract compensation

       Cash paid for interest, commission
charge and commission

       Cash paid for bonus of guarantee
slip

       Cash paid to/for staff and workers       4,056,345.64                           2,933,619.77

       Taxes paid                               2,729,508.05                           4,151,467.04

       Other    cash      paid   concerning
                                                9,272,218.75                          19,697,037.44
operating activities

Subtotal of cash outflow arising from
                                               43,395,599.75                         111,977,235.88
operating activities

Net cash flows arising from operating
                                               30,707,074.03                         -13,134,238.84
activities

II. Cash flows arising from investing
activities:

       Cash received from recovering


                                                                                                 22
                                                        承德南江股份有限公司 2016 年第一季度报告全文


investment

     Cash received from investment
income

     Net cash received from disposal of
fixed, intangible and other long-term
assets

     Net cash received from disposal of
subsidiaries and other units

     Other cash received concerning
investing activities

Subtotal of cash inflow from investing
activities

     Cash paid for purchasing fixed,
                                                1,108,450.99                             142,355.00
intangible and other long-term assets

     Cash paid for investment                  25,000,000.00

     Net increase of mortgaged loans

     Net cash received from
subsidiaries and other units obtained

     Other    cash     paid     concerning
investing activities

Subtotal of cash outflow from investing
                                               26,108,450.99                             142,355.00
activities

Net cash flows arising from investing
                                               -26,108,450.99                           -142,355.00
activities

III. Cash flows arising from financing
activities

     Cash received from absorbing
investment

     Including: Cash received from
absorbing     minority        shareholders’
investment by subsidiaries

     Cash received from loans

     Cash received from issuing bonds

     Other cash received concerning
                                                  753,264.46
financing activities

Subtotal of cash inflow from financing
                                                  753,264.46
activities

     Cash paid for settling debts



                                                                                                 23
                                                                         承德南江股份有限公司 2016 年第一季度报告全文


     Cash paid for dividend and profit
distributing or interest paying

     Including: Dividend and profit of
minority shareholder paid by
subsidiaries

     Other         cash     paid   concerning
                                                                   484,000.00                                910,900.00
financing activities

Subtotal      of     cash     outflow   from
                                                                   484,000.00                                910,900.00
financing activities

Net cash flows arising from financing
                                                                   269,264.46                               -910,900.00
activities

IV. Influence on cash and cash
equivalents due to fluctuation in
exchange rate

V. Net increase of cash and cash
                                                                  4,867,887.50                            -14,187,493.84
equivalents

     Add: Balance of cash and cash
                                                                 84,543,677.45                            35,582,359.90
equivalents at the period -begin

VI. Balance of cash and cash
                                                                 89,411,564.95                            21,394,866.06
equivalents at the period -end


6. Cash Flow Statement of Parent Company

                                                                                                                 In RMB

                      Item                      Current Period                              Last Period

I. Cash flows arising from operating
activities:

     Cash received from selling
commodities and providing labor                                  59,191,631.16                            19,043,794.16
services

     Write-back of tax received

     Other cash received concerning
                                                                 11,928,121.37                            20,274,985.23
operating activities

Subtotal of cash inflow arising from
                                                                 71,119,752.53                            39,318,779.39
operating activities

     Cash paid for purchasing
commodities and receiving labor                                  17,397,043.73                            24,788,394.00
service

     Cash paid to/for staff and workers                           2,923,416.78                             2,105,157.16



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                                                     承德南江股份有限公司 2016 年第一季度报告全文


     Taxes paid                              2,727,254.44                            3,503,711.99

     Other    cash     paid    concerning
                                            19,361,708.12                           24,338,005.24
operating activities

Subtotal of cash outflow arising from
                                            42,409,423.07                           54,735,268.39
operating activities

Net cash flows arising from operating
                                            28,710,329.46                          -15,416,489.00
activities

II. Cash flows arising from investing
activities:

     Cash received from recovering
investment

     Cash received from investment
income

     Net cash received from disposal of
fixed, intangible and other long-term
assets

     Net cash received from disposal of
subsidiaries and other units

     Other cash received concerning
investing activities

Subtotal of cash inflow from investing
activities

     Cash paid for purchasing fixed,
                                                10,788.00                             142,355.00
intangible and other long-term assets

     Cash paid for investment               25,000,000.00

     Net      cash     received     from
subsidiaries and other units

     Other    cash     paid    concerning
investing activities

Subtotal of cash outflow from investing
                                            25,010,788.00                             142,355.00
activities

Net cash flows arising from investing
                                            -25,010,788.00                            -142,355.00
activities

III. Cash flows arising from financing
activities

     Cash received from absorbing
investment

     Cash received from loans



                                                                                               25
                                                                          承德南江股份有限公司 2016 年第一季度报告全文


     Cash received from issuing bonds

     Other cash received concerning
financing activities

Subtotal of cash inflow from financing
activities

     Cash paid for settling debts

     Cash paid for dividend and profit
distributing or interest paying

     Other         cash     paid   concerning
                                                                    484,000.00                             910,900.00
financing activities

Subtotal      of     cash     outflow   from
                                                                    484,000.00                             910,900.00
financing activities

Net cash flows arising from financing
                                                                    -484,000.00                            -910,900.00
activities

IV. Influence on cash and cash
equivalents due to fluctuation in
exchange rate

V. Net increase of cash and cash
                                                                   3,215,541.46                         -16,469,744.00
equivalents

     Add: Balance of cash and cash
                                                                  22,671,791.13                          17,625,400.53
equivalents at the period -begin

VI. Balance of cash and cash
                                                                  25,887,332.59                           1,155,656.53
equivalents at the period -end

II. Audit report
Whether the first quarterly report had been audited or not
 □ Yes √ No
The first quarterly report of the Company had not been audited.




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