Nanjing Putian Telecommunications Co., Ltd. 2011 First Quarterly Report (Full Text)
Nanjing Putian Telecommunications Co., Ltd.
2011 First Quarterly Report (Full Text)
§1 Important notice
1.1 The Board of Directors, the Supervisory Committee, the directors, supervisors
and senior management of the Company hereby confirm that there are no factitious
record, misleading statements or material omissions in this report, and collectively and
individually accepts full responsibility for the truthfulness, accuracy and completeness of
the whole contents.
1.2 The financial report for the first quarter of 2011 was not audited by a public
accounting firm.
1.3 Chairman of the BOD Mr. Zhao Xinping, General Manager Mr. Sun Liang, and
Chief Accountant Mr. Shi Lian hereby confirm that the financial report in this report is
truthful and complete.
1.4 This report is prepared both in Chinese and in English. In case of any
inconsistency between the two versions, the Chinese version should prevail.
§2 Company Profile
2.1 Main accounting data and financial indexes(CNY)
End of the reporting period End of Last year Change (%)
Total assets(RMB) 1,687,450,044.82 1,582,643,987.41 6.62%
Total equity attributable to owners
364,034,663.55 360,616,964.74 0.95%
of the parent company(RMB)
Share capital 215,000,000.00 215,000,000.00 0.00%
Net assets attributable to owners
of the listed company per 1.69 1.68 0.60%
share(RMB/Share)
Reporting period Same period of last yar Change (%)
Total operating income(RMB) 539,970,982.36 377,115,634.87 43.18%
Net profit attributable to the owners
3,414,109.64 1,772,632.79 92.60%
of listed company(RMB)
Net cash generated from operating
-127,042,011.38 -75,177,030.33 -68.99%
activities(RMB)
Net cash generated from operating
-0.59 -0.35 -68.57%
activities per share(RMB/Share)
Basic earnings per
0.016 0.008 100.00%
share(RMB/Share)
Diluted earnings per
0.016 0.008 100.00%
share(RMB/Share)
Weighted average ROE(%) 0.94% 0.53% 0.41%
Weighted average ROE after
deducting non-recurring 0.79% 0.22% 0.57%
profits/losses(%)
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Nanjing Putian Telecommunications Co., Ltd. 2011 First Quarterly Report (Full Text)
From year-beginning to
Items of non-recurring gains or losses the end of the reporting
period
Profit and loss of non-current assets disposal 2,998.61
Governmental subsidy reckoned into current gains and losses, but closely relevant to the
Company’s business except for the governmental subsidy enjoyed in quota or ration 567,198.00
according to the national general standards
Net amount of other non-operating profit and expenses excluding items above 441,777.07
Influenced amount of minority interest -258,177.49
Influenced amount of income tax -199,353.43
Total 554,442.76
Notes for important items of non-recurring gains or losses
-
2.2 Total number of shareholders and top ten shareholders of tradable shares at
the end of the reporting period
Total number of shareholders at the end of
14,620
the reporting period
Top ten shareholders of tradable shares
Shareholder Holding of tradable shares at the end Share type
of the reporting period
Domestically listed foreign
CHAN KEUNG 1,289,600
currency share
Domestically listed foreign
Wang Feifei 588,008
currency share
Domestically listed foreign
Shu Jianping 487,200
currency share
Domestically listed foreign
Gu Feng 442,400
currency share
Domestically listed foreign
Chen Chaofan 416,979
currency share
Domestically listed foreign
Long Jianqiu 340,000
currency share
Domestically listed foreign
Zhao Guanghui 331,650
currency share
Domestically listed foreign
Liu Xiaoqi 318,261
currency share
Domestically listed foreign
Chen Ren 310,000
currency share
Domestically listed foreign
He Ane 264,104
currency share
§3 Significant events
3.1 Material changes in main items on the financial statements and main financial
indicators, and explanation on the reason of the changes
√applicable □inapplicable
Unit: CNY
At the end of the At the beginning Change(Amount) Change(%) Main reason for a
reporting period of the reporting substantial change
period
Prepayment by
Advances from
45,526,582.62 82,459,973.00 -36,933,390.38 -44.79% customers in previous
customers
period was recognized
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Nanjing Putian Telecommunications Co., Ltd. 2011 First Quarterly Report (Full Text)
as revenue from sales of
goods
A large amount of
inventory was bought in
Tax payable -7,644,058.60 9,130,272.74 -16,774,331.34 -183.72%
the reporting period.
VAT was to be deducted
Same period of l Change(Amount) Change(%) Main reason for a
Current period
ast year substantial change
Revenue form sales of
Operating income 539,970,982.36 377,115,634.87 162,855,347.49 43.18% goods increased in the
reporting period.
Cost increased as sales
Operating cost 468,306,601.68 324,428,326.50 143,878,275.18 44.35%
grew.
As sales grew,
remuneration for sales
Sales expense 35,938,345.21 25,664,928.01 10,273,417.20 40.03% staff, transportation fee
and travelling expenses
increased.
Increase of bank loan
Financial expenses 4,728,402.10 2,892,410.44 1,835,991.66 63.48% and rising of bank rate in
the reporting period.
Profit from invested
subsidiaries decreased,
mainly due to that the
new subsidiary Nanjing
Investment income 731,956.54 1,274,872.27 -542,915.73 -42.59% Putian Optical Network
Co., Ltd. set up at the
end of last year just
started operation and
hasn’t made a profit.
Sales grew in the
Operational profit 5,593,534.89 3,493,496.43 2,100,038.46 60.11%
reporting period.
Net profit
attributable to the Revenue and profit grew
3,414,109.64 1,772,632.79 1,641,476.85 92.60%
owners of parent in the reporting period.
company
As revenue grew
substantially, accounts
Net Cash flow from
-127,042,011.38 -75,177,030.33 -51,864,981.05 -68.99% receivable and
operating activities
inventories also
increased.
Net Cash flow from Bank loan increased in
18,987,203.28 -74,685,451.76 93,672,655.04 125.42%
financing activities the reporting period.
3.2 Progress of significant events as well as analysis of its effect and solution plan
3.2.1 Being issued a non-standard auditor’s opinion
□applicable √inapplicable
3.2.2 Fund provided by the Company to its controlling shareholder or related parties of
the controlling shareholder, and guaranty provided by the Company in violation of
prescriptive procedures
□applicable √inapplicable
3.2.3 Signing and implementation of significant contracts that are related to routine
operations
□applicable √inapplicable
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Nanjing Putian Telecommunications Co., Ltd. 2011 First Quarterly Report (Full Text)
3.2.4 Other issues
□applicable √inapplicable
3.3 Commitment of the Company, shareholders or the effective controller, and
fulfillment of the commitment
□applicable √inapplicable
3.4 Caution and explanation on a forecasted accumulated net loss for the period
from the year-beginning to the end of the next reporting period or a material
change in net profit compared with the same period of last year
□applicable √inapplicable
3.5 Other significant events
3.5.1 Securities investment
□applicable √ inapplicable
3.5.2 Reception of investigation, communication and interview during the reporting
period
In the reporting period, the Company did not receive on-site investigation, telephone
communication and written enquiry from investors.
3.6 Derivative investment
□applicable √inapplicable
3.6.1 Holding of derivative investment products at the end of the reporting period
□applicable √inapplicable
§4 Appendix
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Nanjing Putian Telecommunications Co., Ltd. 2011 First Quarterly Report (Full Text)
4.1 Balance Sheet
Prepared by Nanjing Putian Telecommunications Co., Ltd. 31 March 2011 Unit: CNY
At the end of the current period At the beginning of the current period
Item
Consolidated Parent Company Consolidated Parent Company
Current asset:
Monetary funds 222,793,444.02 159,139,938.91 293,018,925.87 186,894,431.96
Settlement provision
Capital lent
Tradable financial assets
Notes receivable 6,420,667.93 3,007,279.60 8,756,893.05 2,778,605.86
Accounts receivable 661,412,221.96 477,168,289.57 537,895,136.38 399,959,567.19
Advances to suplliers 49,932,853.59 42,472,842.34 55,963,371.47 38,600,316.28
Insurance receivable
Reinsurance receivable
Contract reserve of reinsurance
receivable
Interest receivable
Dividends receivable
Other receivables 31,101,758.08 43,532,309.12 31,336,109.33 36,567,802.25
Purchase restituted finance asset
Inventories 388,646,580.43 215,854,606.40 328,533,395.99 192,660,176.68
Non-current asset due in year
Other current assets
Total current asset 1,360,307,526.01 941,175,265.94 1,255,503,832.09 857,460,900.22
Non-current assets
Granted loans and advances
Available-for-sale financial assets
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investments 239,250,901.25 347,221,215.84 238,518,944.71 346,489,259.30
Investment property 4,969,003.89 5,020,611.87
Fixed assets 73,089,415.34 34,302,663.99 74,312,488.05 35,143,253.92
Construction in progress 800,634.39 603,369.49
Construction materials
Fixed assets held for disposal
Productive biological assets
Petrol asstest
Intangible assets 9,032,563.94 5,489,597.97 9,288,110.69 5,656,457.31
Development costs
Goodwill
Long-term prepayment
Differed income tax asset
Other non-current assets
Total non-current assets 327,142,518.81 387,616,847.29 327,140,155.32 387,288,970.53
Total assets 1,687,450,044.82 1,328,792,113.23 1,582,643,987.41 1,244,749,870.75
Legal person representative：Zhao Xinping Financial controller: Sun Liang Accountant officer: Shi Lian
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Nanjing Putian Telecommunications Co., Ltd. 2011 First Quarterly Report (Full Text)
4.1 Balance Sheet (continued)
Prepared by Nanjing Putian Telecommunications Co., Ltd. 31 March 2011 Unit: CNY
At the end of the current period At the beginning of the current period
Item
Consolidated Parent Company Consolidated Parent Company
Current liabilities
Short-term loans 466,000,000.00 319,000,000.00 437,000,000.00 320,000,000.00
Loan from Central Bank
Deposit received and hold for
others
Capital borrowed
Tradable financial liabilities
Notes payable 2,307,806.40 82,307,806.40 370,000.00 80,370,000.00
Accounts payable 699,541,783.49 427,233,761.32 581,633,610.57 342,106,705.49
Advances from customers 45,526,582.62 10,046,653.19 82,459,973.00 36,643,103.73
Selling financial asset of
repurchase
Commission charge and
commission payable
Accrued payroll 14,670,314.15 5,407,663.23 14,668,971.89 5,181,837.54
Tax payable -7,644,058.60 -1,014,387.79 9,130,272.74 11,481,928.76
Interest payable
Dividends payable
Other payables 45,224,259.18 168,297,025.89 36,186,930.21 132,649,038.48
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Non-current liability due in year
Other current liabilities
Total current liabilities 1,265,626,687.24 1,011,278,522.24 1,161,449,758.41 928,432,614.00
Non-current liabilities
Long-term borrowings
Bonds payable
Long-term payables 80,118.00 80,118.00 80,118.00 80,118.00
Special payables
Estimated liabilities
Differed income tax liabilities
Other non-recurrent liabilities
Total non-current liabilities 80,118.00 80,118.00 80,118.00 80,118.00
Total liabilities 1,265,706,805.24 1,011,358,640.24 1,161,529,876.41 928,512,732.00
Owners’ equity (or shareholders’ equity)
Paid-in capital (or share capital) 215,000,000.00 215,000,000.00 215,000,000.00 215,000,000.00
Capital reserves 185,374,533.85 172,417,299.81 185,374,533.85 172,417,299.81
Less: Treasury stock
Reasonable reserve
Surplus reserve 589,559.77 589,559.76 589,559.77 589,559.76
Provision of general risk
Undistributed profit -32,333,043.01 -70,573,386.58 -35,747,152.65 -71,769,720.82
Balance difference of foreign
-4,596,387.06 -4,599,976.23
currency translation
Total equity attributable to owners of the
364,034,663.55 317,433,472.99 360,616,964.74 316,237,138.75
parent company
Minor interests 57,708,576.03 60,497,146.26
Total owners’ equity 421,743,239.58 317,433,472.99 421,114,111.00 316,237,138.75
Total of liabilities and owners’ equity 1,687,450,044.82 1,328,792,113.23 1,582,643,987.41 1,244,749,870.75
Legal person representative：Zhao Xinping Financial controller: Sun Liang Accountant officer: Shi Lian
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Nanjing Putian Telecommunications Co., Ltd. 2011 First Quarterly Report (Full Text)
4.2 Income statement
Prepared by Nanjing Putian Telecommunications Co., Ltd. January to March 2011 Unit: CNY
Current Period Same Period of Last Year
Item
Consolidated Parent Company Consolidated Parent Company
I. Total operating income 539,970,982.36 357,144,907.81 377,115,634.87 242,409,778.73
Incl. operating income 539,970,982.36 357,144,907.81 377,115,634.87 242,409,778.73
Interest income
Insurance gained
Commission charge and commission
income
II. Total operating cost 535,109,404.01 361,305,251.00 374,897,010.71 247,786,614.45
Incl. operating cost 468,306,601.68 324,955,390.09 324,428,326.50 217,848,998.65
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 expenses
Operating tax and extras 1,999,837.29 592,574.90 1,128,758.61 -285,012.05
Sales expense 35,938,345.21 21,091,746.74 25,664,928.01 17,297,167.29
Administration expense 24,136,217.73 10,444,682.98 20,782,587.15 10,376,601.27
Financial expenses 4,728,402.10 4,220,856.29 2,892,410.44 2,548,859.29
Losses of devaluation of asset
Plus: Gains from change of fair value
(“-“ for loss)
Investment income (“-“ for loss) 731,956.54 5,308,656.54 1,274,872.27 1,274,872.27
Incl. Investment income on
affiliated Company and joint ventureand 731,956.54 731,956.54 1,036,698.87 1,036,698.87
joint venture
Gains from currency exchange
(“-“ for loss)
III. Operational profit (“-“ for loss) 5,593,534.89 1,148,313.35 3,493,496.43 -4,101,963.45
Plus: Non-operating income 1,036,908.51 70,518.94 1,101,329.34 1,056,423.07
Less: Non-operating expenses 24,934.83 22,498.05 32,815.35 32,792.90
Incl. Loss from disposal of
322.33 322.33 2,815.35 2,792.90
non-current assets
IV. Total profit (“-“ for loss) 6,605,508.57 1,196,334.24 4,562,010.42 -3,078,333.28
Less: Income tax 556,669.16 375,390.29
V. Net profit (“-“ for net loss) 6,048,839.41 1,196,334.24 4,186,620.13 -3,078,333.28
Net profit attributable to the owners of
3,414,109.64 1,196,334.24 1,772,632.79 -3,078,333.28
parent company
Minority shareholders’ gains and losses 2,634,729.77 2,413,987.34
VI. Earnings per share:
(I) Basic earnings per share 0.016 0.006 0.008 -0.014
(II) Diluted earnings per share 0.016 0.006 0.008 -0.014
VII. Other comprehensive income 3,589.17 8,204.76
VIII. Total comprehensive income 6,052,428.58 1,196,334.24 4,194,824.89 -3,078,333.28
Total comprehensive income
3,417,698.81 1,196,334.24 1,780,837.55 -3,078,333.28
attributable to owners of parent company
Total comprehensive income
2,634,729.77 2,413,987.34
attributable to minority shareholders
Legal person representative：Zhao Xinping Financial controller: Sun Liang Accountant officer: Shi Lian
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Nanjing Putian Telecommunications Co., Ltd. 2011 First Quarterly Report (Full Text)
4.3 Cash Flow Statement
Prepared by Nanjing Putian Telecommunications Co., Ltd. January to March 2011 Unit: CNY
Current Period Same Period of Last Year
Item
Consolidated Parent Company Consolidated Parent Company
I. Net cash flow from operating activities
Cash received from sales of products and
474,557,989.19 302,341,035.08 407,007,845.03 253,009,867.80
providing of services
Net increase of customer deposit and
inter-bank deposit
Net increase of loans from central bank
Net increase of inter-bank loans from
other financial institutions
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
Refunds of taxes 441,259.39 39,756.07
Other cash received from operating
3,627,156.47 31,930,649.57 6,813,434.79 7,691,975.95
activities
Sub-total of cash inflow from
478,626,405.05 334,271,684.65 413,861,035.89 260,701,843.75
operating activities
Cash paid for goods and services 497,437,805.87 319,817,799.57 413,749,567.72 254,040,281.57
Net increase of client trade and advance
Net increase of savings in central bank
and brother company
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 and on behalf of employees 35,679,381.62 20,020,750.87 27,587,838.71 14,261,080.57
Payments of all types of taxes 31,312,815.30 17,079,969.70 21,854,071.91 8,760,923.05
Other cash payments relating to
41,238,413.64 42,762,280.70 25,846,587.88 41,881,743.90
operating activities
Sub-total of cash outflow from
605,668,416.43 399,680,800.84 489,038,066.22 318,944,029.09
operating activities
Net Cash flow from operating
-127,042,011.38 -65,409,116.19 -75,177,030.33 -58,242,185.34
activities
II. Cash flow from investing activities
Cash received from recovering
investment
Cash received from investment income 4,576,700.00
Net cash retrieved from disposal of fixed
assets, intangible assets, and other long-term
assets
Net cash received from disposal of
subsidiaries or other operational units
Other cash received concerning
investing activities
Sub-total of cash inflow from
4,576,700.00
investing activities
Cash paid for purchasing fixed,
2,170,673.75 1,203,204.64 2,672,427.32 1,484,500.00
intangible and other long-term assets
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Nanjing Putian Telecommunications Co., Ltd. 2011 First Quarterly Report (Full Text)
Cash paid for investment
Net increase of mortgaged loans
Net cash received from subsidiaries and
other operational units
Cash paid for other investing activities
Sub-total of cash outflow from
2,170,673.75 1,203,204.64 2,672,427.32 1,484,500.00
investing activities
Net cash flow from investing
-2,170,673.75 3,373,495.36 -2,672,427.32 -1,484,500.00
activities
III. Cash flow from financing activities
Cash received from absorbing
investment
Incl. Cash received from absorbing
minority shareholders ’ investment by
subsidiaries
Cash received from loans 65,000,000.00 15,000,000.00 100,000,000.00 100,000,000.00
Cash received from bond placing
Other cash received concerning
financing activities
Subtotal of cash inflow from financing
65,000,000.00 15,000,000.00 100,000,000.00 100,000,000.00
activities
Cash paid for settling debts 36,000,000.00 16,000,000.00 100,000,000.00 100,000,000.00
Cash paid for dividend and profit
10,012,796.72 4,718,872.22 4,685,451.76 4,336,442.49
distributing or interest paying
Incl. Dividend and profit of minority
4,738,640.00
shareholder paid by subsidiaries
Cash paid for other financing activities 70,000,000.00 70,000,000.00
Subtotal of cash outflow due to
46,012,796.72 20,718,872.22 174,685,451.76 174,336,442.49
financing activities
Net cash flow from financing
18,987,203.28 -5,718,872.22 -74,685,451.76 -74,336,442.49
activities
IV. Influence of exchange rate alternation on
cash and cash equivalents
V. Net increase of cash and cash equivalents -110,225,481.85 -67,754,493.05 -152,534,909.41 -134,063,127.83
Plus: Balance of cash and cash
291,447,011.87 185,951,591.96 422,853,002.17 348,384,407.10
equivalents at the beginning of term
VI. Balance of cash and cash equivalents at
181,221,530.02 118,197,098.91 270,318,092.76 214,321,279.27
the end of term
Legal person representative：Zhao Xinping Financial controller: Sun Liang Accountant officer: Shi Lian
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Nanjing Putian Telecommunications Co., Ltd. 2011 First Quarterly Report (Full Text)
4.4 Auditor’s report
Auditor’s opinion: Not audited.
Board of Directors
Nanjing Putian Telecommunications Co., Ltd.
23 April 2011
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