Stock Code: 200468 Short Form of the Stock: NJ TEL B Notice No.: 2012-025
Nanjing Putian Telecommunications Co., Ltd.
Summary of Semi-Annual Report 2012
I. Important Notes
The Board of Directors and its directors, Supervisory Committee and its supervisors, senior
executives of Nanjing Putian Telecommunications Co., Ltd. (hereinafter referred to as the Company)
hereby confirm that there are no false recordation, misleading statements or material omissions
carried in this report, and shall take all responsibilities, individually and/or jointly, for the reality,
accuracy and completeness of the whole contents.
Except for the follow directors, others are present the meeting of the Board for deliberating the
semi-annual report of the Company
Name of director not Title of director not
Reasons for absent Trustee
attended in person attended in person
Sun Liang Chairman of the BOD Due to official business Huang Haodong
Li Ying Director Due to official business Han Shu
Ding Haiyan Independent Director Due to official business Zheng Aimei
Financial report of this semi-annual repot has not been audited by CPA.
Mr. Sun Liang, Chairman of the Company, General Manager Ms. Wang Hong and Chief Accountant
Mr. Shi Lian hereby confirm the truthfulness and completeness of the Financial Report in the
Semi-annual Report 2012.
II. Basic Information of the Company
(I) Company profile
Short form for B-share NJ TEL B
Code for B-share 200468
Listing stock exchange Shenzhen Stock Exchange
Secretary of the Board Rep. of security affairs
Name Zhang Shenwei Xiao Hong
No. 1 Putian Road, Qinhuai District No. 1 Putian Road, Qinhuai District
Contact adds.
Nanjing Jiangsu Province Nanjing Jiangsu Province
Tel. 86-25-58962289 86-25-58962072
Fax. 86-25-52409954 86-25-52409954
E-mail zsw@postel.com.cn xiaohong@postel.com.cn
(II) Major financial data and indexes
1. Major accounting data and financial indexes
Whether retroactive adjusted on previous financial report or not
□Yes √ No
End of this report End of last period Increase/decrease in this
report period
1
year-on-year (%)
Total assets(RMB) 2,271,900,285.79 2,050,755,987.18 10.78%
Owners’ equity attributable to
shareholders of the listed 378,218,363.67 372,273,328.48 1.6%
company(RMB)
Share capital(Share) 215,000,000.00 215,000,000.00 0%
Net assets per share attributable to
shareholder of listed company 1.759 1.732 1.56%
(RMB/ Share)
Asset-liability ratio (%) 79.5% 77.62% 1.88%
Increase/decrease in this
Reporting period (Jan.
Same period of last year report period
to June)
year-on-year (%)
Total business revenue(RMB) 1,349,963,182.82 1,167,066,717.47 15.67%
Business profit(RMB) 13,543,231.97 16,232,593.95 -16.57%
Total profit(RMB) 14,366,427.62 17,513,563.03 -17.97%
Net profit attributable to
shareholders of the listed company 6,038,203.37 7,654,146.53 -21.11%
(RMB)
Net profit attributable to
shareholders of the listed company
5,763,929.27 7,017,683.63 -17.87%
after deducting non-recurring gains
and losses(RMB)
Basic earnings per share
0.028 0.036 -22.22%
(RMB/Share)
Diluted earnings per share
0.028 0.036 -22.22%
(RMB/Share)
Weighted average ROE (%) 1.61% 2.1% -0.49%
Weighted average ROE after
deducting non-recurring gains/losses 1.54% 1.93% -0.39%
(%)
Net cash flow arising from operating
-28,209,564.55 -123,457,082.73 77.15%
activities(RMB)
Net cash flow per share arising from
-0.131 -0.574 77.18%
operating activities (RMB/Share)
Explanation on previous major accounting data and financial indexes at period-end (filling the adjustment explanation if retroactive
adjusted)
2. Items of non-recurring gains/losses
√Applicable □Non applicable
Amount from
Items of non-recurring gains/losses year-begin to Note
period-end (RMB)
Gains and losses from disposal of non-current
275,457.62
assets
Tax refund or exemption out of authorization, with
absence of official approval document or
accidentally
2
Governmental subsidy calculated into current gains
and losses(while closely related with the normal
business of the Company, excluding the 779,939.18
fixed-amount or fixed-proportion governmental
subsidy according to the unified national standard)
Fund occupation expenses received from
non-financial enterprises that reckon into current
gains/losses
Income occurred when investment cost paid by
enterprise for obtaining subsidiaries, associates and
joint ventures are lower than its share in fair
value of net realizable assets of invested units
Gains and losses from exchange of non-monetary
assets
Gains and losses from entrusted investment or
management assets
Various asset impairment reserve provided for force
majeure, such as natural disaster;
Gains/losses from debt reorganization 1,030.00
Reorganization expenses, such as expenditure for
allocation of employees and integration fee
Gains and losses from excess of transaction which
are conducted on a non-fair-valued basis over its
fair value
Current net gains and losses of subsidiaries
occurred from combination under the same control
commencing from period-begin to combination
date
Gains and losses from contingent events which has
no relation with normal business of the Company
Gains and losses from change of fair values of
held-for-transaction financial assets and financial
liabilities except for the effective hedge business
related to normal business of the Company, and
investment income from disposal of transactional
financial assets and liabilities and financial assets
available for sale
Reversal of impairment reserve for account
receivable with separate impairment testing
gains/ losses from external entrustment loans
Gains and losses arising from change of fair value
of investment properties whose follow-up
measurement are at fair value
Affect upon current gains/losses arising from the
one-off adjustment in subject to requirement of
laws and rules in relation to taxation and
accounting
Income from entrusted custody operation
Other non-operating income and expenditure
-272,281.40
except the abovementioned
3
Other item that satisfied the definition of
non-recurring gains and losses
Influenced amount of minority shareholders’ equity 339,754.48
Impact on income tax 170,116.82
Total 274,274.10 --
3. Difference of net profit and net assets disclosed in financial report based on IAS and CAS
□ Applicable √ Non applicable
4. Difference of net profit and net assets disclosed in financial report based on foreign
accounting standards and CAS
□ Applicable √Non applicable
III. Changes in Share Capital and Particular about Shareholders
(I) Changes in share capital
□ Applicable √ Non applicable
(II) Statement of shares held by top ten shareholders and the top ten shareholders with
unrestricted conditions/circulate shareholders
Statement of shares held by top 10 shareholders and top 10 shareholders with circulated shares held
Total shareholders 14,246
Particulars about the shares held by the top ten shareholders
Amount of Shares pledged or frozen
Total amount of
Shareholders (full Nature of Proporti the
shares held at
name) shareholders on (%) non-circulate Share status Amount
period-end
d shares held
China Potevio Company State-owned legal pledged 0.00
53.49% 115,000,000 115,000,000
Limited person frozen 0.00
Foreign nature pe
CHAN KEUNG 0.6% 1,289,600 0
rson
ING ASIA PRIVATE Foreign legal
0.45% 959,199 0
BANK LIMITED person
Domestic nature
Wang Feifei 0.27% 588,008 0
person
Domestic nature
Shu Jianping 0.23% 500,500 0
person
Domestic nature
Gu Feng 0.21% 442,400 0
person
Domestic nature
Chen Chaofan 0.19% 416,979 0
person
Domestic nature
Yan Zengqing 0.19% 399,806 0
person
Domestic nature
Long Jianqiu 0.16% 340,000 0
person
Domestic nature
Zhao Guanghui 0.15% 331,550 0
person
Particular about circulated shares held by top 10 shareholders
Amount of circulated Type/amount of shares
Shareholders
shares held at period-end Type Amount
CHAN KEUNG 1,289,600 B-share 1,289,600
ING ASIA PRIVATE BANK LIMITED 959,199 B-share 959,199
4
Wang Feifei 588,008 B-share 588,008
Shu Jianping 500,500 B-share 500,500
Gu Feng 442,400 B-share 442,400
Chen Chaofan 416,979 B-share 416,979
Yan Zengqing 399,806 B-share 399,806
Long Jianqiu 340,000 B-share 340,000
Zhao Guanghui 331,550 B-share 331,550
Liu Yunxiang 326,458 B-share 326,458
Among the top ten shareholders, China Potevio Company Limited is
Explanation on associated relationship neither a related party nor a person acting in concert with the others.
among the top ten shareholders or (and) It’s unknown by the Company whether there are related parties or
consistent action persons acting in concert among the other shareholders. The
Company does not know whether there are related parities or persons
acting in concert among the top ten holders of tradable shares.
(III) Changes of controlling shareholders and actual controller
□applicable √Non-applicable
IV. Directors, Supervisors and Senior Executives
(I) Changes of shares held by directors, supervisors and senior executive
Amount Amount of Amount of
Shares held of shares shares Shares held Including: stock
at increase in decreased at restricted option held Reasons for
Name Title
period-begi this in this period-end shares held at changes
n(Share) period(Shar period (Share) (Share) period-end
e) (Share) (Share)
Chairman,
Sun Liang 0.00 0.00 0.00 0.00 0.00 0.00 -
Director
Deputy
Wang Hong chairman, 0.00 0.00 0.00 0.00 0.00 0.00 -
GM
Director,
Li Tong 0.00 0.00 0.00 0.00 0.00 0.00 -
Deputy GM
Han Shu Director 0.00 0.00 0.00 0.00 0.00 0.00 -
Li Ying Director 0.00 0.00 0.00 0.00 0.00 0.00 -
Huang
Director 0.00 0.00 0.00 0.00 0.00 0.00 -
Haodong
Zhang Independent
0.00 0.00 0.00 0.00 0.00 0.00 -
Shunyi Director
Independent
Zheng Aimei 0.00 0.00 0.00 0.00 0.00 0.00 -
Director
Independent
Ding Haiyan 0.00 0.00 0.00 0.00 0.00 0.00 -
Director
Chief
Yang Zhihe 0.00 0.00 0.00 0.00 0.00 0.00 -
Supervisor
Tang Di Supervisor 0.00 0.00 0.00 0.00 0.00 0.00 -
Liu Xiaodong Supervisor 0.00 0.00 0.00 0.00 0.00 0.00 -
Jiang Hanbin Deputy GM 0.00 0.00 0.00 0.00 0.00 0.00 -
Deputy GM、
Zhang
Secretary of 0.00 0.00 0.00 0.00 0.00 0.00 -
Shenwei
the Board
Lu Yongshu Deputy GM 0.00 0.00 0.00 0.00 0.00 0.00 -
Chief
Shi Lian 0.00 0.00 0.00 0.00 0.00 0.00 -
accountant,
5
CFO
Kong Former
0.00 0.00 0.00 0.00 0.00 0.00 -
Shanyou director
Zhu Former
0.00 0.00 0.00 0.00 0.00 0.00 -
Hongchen supervisor
V. Report of the Board of Directors
(I) Statement of main business classified according to industries and products
Unit: RMB
Main business classified according to industries
Increase or Increase or Increase or
decrease of decrease of decrease of gross
According to Operating Gross profit ratio operating revenue operating cost profit ratio over
Operating cost
industries revenue (%) over the last same over the last same the last same
period of last year period of last year period of last year
(%) (%) (%)
Manufacture of
telecommunicati 1,287,158,567.25 1,119,838,957.60 13% 11.63% 10.98% 0.51%
on equipment
Manufacture of
appliance 52,013,535.66 39,522,573.72 24.01%
equipment
Main business classified according to products
Increase or Increase or Increase or
decrease of decrease of decrease of gross
According to Operating Gross profit ratio operating revenue operating cost profit ratio over
Operating cost
products revenue (%) over the last same over the last same the last same
period of last year period of last year period of last year
(%) (%) (%)
Telecommunicati
1,287,158,567.25 1,119,838,957.60 13% 11.63% 10.98% 0.51%
on products
Appliance
52,013,535.66 39,522,573.72 24.01%
products
Reasons for significant change of gross profit margin as compared to the same period of last year
There was no significant change in gross profit margin for the year.
(II) Main business classified according to areas
Unit: RMB
Increase/decrease in revenue from
Areas Operating revenue operations over the same period of
last year (%)
North China 232,185,592.89 -14.65%
East China 722,520,565.52 28.82%
Others 384,465,944.50 20.11%
(III) Explanation on reasons of material changes in main operations and its structure
□Applicable √Non-applicable
(IV) Explanation on reasons of material changes in profitability (gross profit ratio) of main
operations compared with that of last year
□Applicable √Non-applicable
(V) Analysis on reasons of material changes in profit structure compared with the previous
year
√Applicable □Non-applicable
Item January-June 2012 January-June 2011 Increase/decrease (R Change
MB)
Operating income 1,349,963,182.82 1,167,066,717.47 182,896,465.35 15.67%
6
Operating costs 1,167,040,803.45 1,016,732,478.71 150,308,324.74 14.78%
Operating profit 13,543,231.97 16,232,593.95 -2,689,361.98 -16.57%
Selling expenses 85,918,634.36 67,934,941.52 17,983,692.84 26.47%
Administration expenses 61,694,140.49 51,471,437.38 10,222,703.11 19.86%
Finance expenses 16,942,792.36 12,030,031.87 4,912,760.49 40.84%
Investment income 1,462,045.66 2,853,983.65 -1,391,937.99 -48.77%
Net non-operating 823,195.65 1,280,969.08 -457,773.43 -35.74%
income/expense
Total profit 14,366,427.62 17,513,563.03 -3,147,135.41 -17.97%
Net profit attributable to 6,038,203.37 7,654,146.53 -1,615,943.16 -21.11%
owners of the parent
Items experiencing significant changes in terms of amount and scope, and reason thereof:
Main reasons for increase of selling expenses: after-sale service fee, entertainment expenses, salary costs,
transportation costs and traveling expenses increased as sales scale expanded; consolidation of statement of
Nanjing Mennekes contributed increase of RMB5.89 million for this period.
Main reasons for increase of administration expenses: technical development expenses increased
RMB4,417,400 since the Company allocated more resources in technical development; salary costs
increased by RMB1,708,300 and office expenses increased by RMB3,323,800; consolidation of statement of
Nanjing Mennekes contributed increase of RMB2.96 million for this period.
Main reasons for increase of financial expenses: interest costs increased due to the raise of bank lending rate
and discount rate of bank acceptance draft.
Main reasons for decrease of investment income: the Company acquired equity interests in Nanjing
Mennekes Electrical Appliances Co., Ltd. at the end of 2011. According to requirements of accounting
principles, the company was accounted by cost method rather than equity method for this period, leading to
decrease of RMB3, 116,700 of investment income as compared to the same period of last year; investment
income increased by RMB1, 683,900 due to the increase of profit of the Company’s joint venture Nanjing
Puzhu Optical Network Co., Ltd., representing an increase of RMB1, 709,200 as compared to the same
period of last year.
(VI) Application of the raised proceeds
1. Statement of application of the raised proceeds
□Applicable √Non-applicable
2. Statement of changes on projects invested by raised funds
□Applicable √Non-applicable
(VII) The modification of Board to the business plan for the second half of the year
□Applicable √Non-applicable
(VIII) Prediction of business performance from January – September 2012
Estimation on accumulative net profit from the beginning of the year to the end of next report
period to be loss probably or the warning of its material change compared with the corresponding
period of the last year and explanation on reason
□Applicable √Non-applicable
(IX) Explanation on “Qualified Opinion” from the Certified Public Accountants in the report
period by the Board of Directors
□Applicable √Non-applicable
(X) Explanation of the Management on changes and disposal of the issues involved in
“Qualified Opinion” from the Certified Public Accountants in the last year by the Board of
Directors
□Applicable √Non-applicable
7
VI. Significant Event
(I) Assets acquisition, sales of assets and assets reorganization
1. Assets purchased or acquired
□Applicable √Non-applicable
Explanation on assets acquisition
2. Assets sold
□Applicable √Non-applicable
Explanation on assets sold
On 21 June 2012, resolution about transferring 17.79% equity interests respectively in Shanghai Yulong
Biology Science & Technology Co., Ltd. and Qufu Yulong Biology Science & Technology Co., Ltd. was
approved at the 2nd meeting of the 6th board of the Company, and subsequently approved at the 1st
extraordinary general meeting for 2012 on 12 July 2012. The price of such equity transfer was based by
reference to the valuation price of shareholder’s equity concerning such transferred equity interests held by
the Company. The price for sale was not less than RMB40, 657,400, including RMB25, 039,700 and RMB15,
617,700 for Shanghai Yulong and Qufu Yulong respectively. This equity transfer constituted no related
transaction.
Details about this equity transfer were available on the announcement relating to transfer of equities in
Shareholding Company dated 26 June 2012.
3. Progress of the events and their influence on the Company’s operating results and financial
status in the report period after the Report on Assets Restructure or Public Notice on
Acquisition and Sales of Assets being published
√Applicable □Non-applicable
The Company traded the 17.79% equity interests respectively in Shanghai Yulong and Qufu Yulong by
listing on Shanghai United Property Exchange on 19 July 2012, with price of RMB25, 039,800 and RMB15,
617,800. Notice for such trade by listing will terminate on 18 August 2012.
The aforesaid equity transfer brought no affect on the operation results and financial position of the
Company for the first half of 2012.
(II) Guarantees
√Applicable □Non-applicable
Unit: RMB00’000
Particulars about the external guarantee of the Company (Barring the guarantee for the controlling subsidiaries)
Guarante
Actual date of
Complete e for
Related happening
Name of the Guarantee Actual Guarantee Guarantee implemen related
Announcement (Date of
Company guaranteed limit guarantee limit type term tation or party
disclosure date signing
not (Yes or
agreement)
no)
Till end of
the loan
payment
guarantee by
China
Potevio
China Potevio since
2010-8-25 8,400 2010-09-19 8,400 Pledge No Yes
Company Limited September
2010 (note: a
counter-guar
antee
provided by
the
Company for
8
China
Potevio )
Total actual occurred external
Total approving external guarantee in
0 guarantee in report period 0
report period (A1)
(A2)
Total actual balance of
Total approved external guarantee at
8,400 external guarantee at the end 8,400
the end of report period ( A3)
of report period (A4)
Guarantee of the Company for the subsidiaries
Guarante
Actual date of
Complete e for
Related happening
Name of the Guarantee Actual Guarantee Guarantee implemen related
Announcement (Date of
Company guaranteed limit guarantee limit type term tation or party
disclosure date signing
not (Yes or
agreement)
no)
Nanjing South
2011.12.14-2
Telecommunication 2011-4-16 4,000 2011-12-14 2,000 guarantee No No
012.12.13
Co., Ltd.
Nanjing Putian
2011.9.16-20
Tianji Building 2011-4-16 3,300 2011-09-13 1,000 guarantee No No
12.9.16
Intelligence Co., Ltd.
Nanjing Putian
2011.9.28-20
Tianji Building 2011-4-16 3,300 2011-09-22 1,000 guarantee No No
12.9.28
Intelligence Co., Ltd.
Total amount of actual
Total amount of approving guarantee occurred guarantee for
8,000 0
for subsidiaries in report period (B1) subsidiaries in report period
(B2)
Total balance of actual
Total amount of approved guarantee
guarantee for subsidiaries at
for subsidiaries at the end of reporting 8,000 4,000
the end of reporting period
period (B3)
(B4)
Total amount of guarantee of the Company( total of two abovementioned guarantee)
Total amount of actual
Total amount of approving guarantee
8,000 occurred guarantee in report 0
in report period (A1+B1)
period (A2+B2)
Total balance of actual
Total amount of approved guarantee
16,400 guarantee at the end of report 12,400
at the end of report period (A3+B3)
period (A4+B4)
The proportion of the total amount of actually guarantee in the net
32.79%
assets of the Company(that is A4+ B4)
Including:
Amount of guarantee for shareholders, actual controller and its
8,400
related parties(C)
The debts guarantee amount provided for the guaranteed parties
2,000
whose assets-liability ratio exceed 70% directly or indirectly(D)
Proportion of total amount of guarantee in net assets of the
0
Company exceed 50%(E)
Total amount of the aforesaid three guarantees(C+D+E) 10,400
Explanations on possibly bearing joint and several liquidating No possibly bearing joint and several liquidating responsibilities
responsibilities for undue guarantees for undue guarantees in reporting period
No external guarantee against regulated procedures occurred in
Explanations on external guarantee against regulated procedures
reporting period
(III) Non-operating current related credits and liabilities
Whether have non-operating current related credits and liabilities or not
√Yes □No
9
Unit: RMB00’000
Funds offer to listed company from related
Funds offer to related party
Related party party
Amount occurred Balance Amount occurred Balance
Nanjing Putian Datang Information
0 4.78
Electronics Co., Ltd.
Total 0 4.78
Including: fund occupation offer to controlling shareholder and its subsidiary from listed company amounting as 0 yuan, balance
amount as 0 yuan in reporting period
(IV) Material lawsuits and arbitrations
□Applicable √Non-applicable
(V) Other significant events and analysis of their influences and solution plan
□Applicable √Non-applicable
1. Security investment
□Applicable √Non-applicable
Explanation on security investment
2. Equity of other listed company held by the Company
□Applicable √Non-applicable
Explanation on equity of other listed company held by the Company
3. Fund occupation and progress of paying off
□Applicable √Non-applicable
Till end of reporting period, accountability plan proposed by the Board for completed no
non-operational fund occupation from listed company
□Applicable √Non-applicable
4. Implementation of commitments
Commitments made by the Company and its directors, supervisors, senior executives,
shareholders holding above 5% shares of the Company and actual controller in reporting
period or extending to reporting period
□Applicable √Non-applicable
5. Profit distribution of Board of Directors this time or preplan of capital reserve capitalizing
□Applicable √Non-applicable
6. Items of other consolidated income
Unit: RMB
Amount occurred in
Amount occurred in the
Items same period of last
report period
period
1. Gains(losses) from financial assets available for sales
Less: Income tax influences from financial assets available
for sales
Net amount reckoned into other consolidated income in
previous period but transferred into gains/losses in current
period
Subtotal
2. Shares in the other consolidated income of the investee
calculated based on equity method
Less: Income tax influences of shares in the other
consolidated income of the investee calculated based on
equity method
Net amount reckoned into other consolidated income in
previous period but transferred into gains/losses in current
period
10
Subtotal
3. Gains(losses) from cash flow hedge instrument
Less: Income tax influences from cash flow hedge
Net amount reckoned into other consolidated income in
previous period but transferred into gains/losses in current
period
Adjusted amount transferred to initial confirmed amount of
the arbitraged items
Subtotal
4. Differences from translating foreign currency financial
-93,168.18 282,079.96
statements
Less: Net amount of disposing overseas business transferred
to current gains/losses
Subtotal -93,168.18 282,079.96
5. Others
Less: Income tax influences by others reckoned into other
consolidated income
Net amount reckoned into other consolidated income in
previous period but transferred into gains/losses in current
period
Subtotal
Total -93,168.18 282,079.96
(VI)Registration form of receiving research, communication and interview in the report
period
Content discussed and
Date Place Way Type Object
documents provided
N/A
VII. Financial Report
(I) Auditing opinion
Audited the semi-annual report or not
□ Yes √No
(II) Financial statement
Whether consolidated statement or not:
√Yes □No
1、The Consolidated Statement Of Financial Position As At 30 June 2012
Prepared by: NANJING PUTIAN TELECOMMUNICATIONS CO. LTD. Unit: RMB Yuan
Items Note 30 June 2012 31 December 2011
Current assets
Monetary funds 331,632,757.53 312,420,215.59
Settlement provisions
Capital lent
Held for trading financial assets
Notes receivable 7,061,951.89 12,863,723.59
Accounts receivable 899,136,010.05 736,141,568.31
11
Advances to suppliers 45,888,536.08 37,630,280.44
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance receivable
Interest receivable
Dividend receivable
Other receivables 46,628,479.19 55,323,271.93
Purchase restituted finance asset
Inventories 595,638,108.81 552,349,491.53
Long-term debt investment due within a year
Other current assets
Total current assets 1,925,985,843.55 1,706,728,551.39
Non-current assets
Granted loans and advances
Available-for-sale financial assets
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investments 208,078,185.44 206,616,139.78
Investment property 4,710,963.99 4,814,179.95
Fixed assets 99,238,215.96 102,151,733.16
Construction in progress 13,981,775.21 10,062,821.54
Construction materials
Fixed assets held for disposal
Productive biological assets
Petrol assets
Intangible assets 19,905,301.64 20,382,561.36
Development costs
Goodwill
Long-term prepayments
Deferred tax assets
Other non-current assets
Total non-current assets 345,914,442.24 344,027,435.79
Total assets 2,271,900,285.79 2,050,755,987.18
Current liabilities
Short-term loans 581,300,000.00 511,500,000.00
Loan from central bank
Absorbing deposit and interbank deposit
Capital borrowed
Tradable financial liabilities 0.00 0.00
Notes payable 30,282,254.11 262,091.29
Accounts payable 1,064,521,817.87 906,751,164.90
Advances from customers 72,626,301.93 87,763,330.36
Selling financial asset of repurchase
Commission charge and commission payable
Accrued payroll 15,756,572.62 14,914,260.59
Taxes payable -1,405,933.10 15,773,935.97
12
Interest payable
Dividend payable 1,000,000.00 1,344,198.22
Other payables 41,988,533.76 53,443,334.25
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Long-term liabilities due within a year
Other current liabilities
Total current liabilities 1,806,069,547.19 1,591,752,315.58
Non-current liabilities
Long-term borrowings
Bonds payable
Long-term payables 80,118.00 80,118.00
Special payables
Estimated liabilities
Deferred tax liabilities
Other long-term liabilities
Total non-current liabilities 80,118.00 80,118.00
Total liabilities 1,806,149,665.19 1,591,832,433.58
Owner’s equity
Share capital 215,000,000.00 215,000,000.00
Capital reserve 185,374,533.85 185,374,533.85
Less: Treasury stock
Reasonable reserve
Surplus reserve 589,559.77 589,559.77
Provision of general risk
Undistributed profit -18,884,815.56 -24,923,018.93
Balance difference of foreign currency translation -3,860,914.39 -3,767,746.21
Total shareholder’s equity attributable to parent
378,218,363.67 372,273,328.48
Company
Minority interests 87,532,256.93 86,650,225.12
Total shareholder’s equity 465,750,620.60 458,923,553.60
Total liabilities and shareholder’s equity 2,271,900,285.79 2,050,755,987.18
Legal Representative: Liang Sun Person in Charge of Accounting Works: Hong Wang Person in Charge of Accounting Department: Lian Shi
2、The Statement Of Financial Position For Parent Company As At 30 June 2012
Unit: RMB Yuan
Items Note 30 June 2012 31 December 2011
Current assets
Monetary funds 233,938,223.14 195,625,750.23
Tradable financial assets
Notes receivable 793,560.00 3,938,705.00
Accounts receivable 595,320,065.99 489,450,457.03
13
Advances to suppliers 34,468,299.23 27,748,693.01
Interest receivable
Dividend receivable
Other receivables 96,619,752.41 87,821,794.78
Inventories 305,371,669.40 283,735,577.58
Long-term debt investment due within a year
Other current assets
Total current assets 1,266,511,570.17 1,088,320,977.63
Non-current assets
Available-for-sale financial assets
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investments 373,436,268.79 371,987,745.40
Investment property
Fixed assets 33,100,020.40 32,993,773.68
Construction in progress 751,823.54 743,162.49
Construction materials
Fixed assets held for disposal
Productive biological assets
Petrol assets
Intangible assets 4,896,344.54 5,344,581.09
Development costs
Goodwill
Long-term prepayments
Deferred tax assets
Other non-current assets
Total non-current assets 412,184,457.27 411,069,262.66
Total assets 1,678,696,027.44 1,499,390,240.29
Current liabilities
Short-term loans 319,000,000.00 335,000,000.00
Tradable financial liabilities
Notes payable 180,990,209.75 80,262,091.29
Accounts payable 619,796,599.95 529,289,003.74
Advances from customers 30,029,833.41 27,009,137.51
Accrued payroll 5,901,080.54 5,715,497.61
Taxes payable 6,411,073.73 10,002,772.65
Interest payable
Dividend payable
Other payables 216,439,505.29 207,378,257.20
Long-term liabilities due within a year
Other current liabilities
Total current liabilities 1,378,568,302.67 1,194,656,760.00
Non-current liabilities
Long-term borrowings
Bonds payable
Long-term payables 80,118.00 80,118.00
14
Special payables
Estimated liabilities
Deferred tax liabilities
Other long-term liabilities
Total non-current liabilities 80,118.00 80,118.00
Total liabilities 1,378,648,420.67 1,194,736,878.00
Owner’s equity
Share capital 215,000,000.00 215,000,000.00
Capital reserve 172,417,299.81 172,417,299.81
Less: Treasury stock
Special reserves
Surplus reserve 589,559.76 589,559.76
Provision of general risk
Undistributed profit -87,959,252.80 -83,353,497.28
Currency translation differences
Total shareholder’s equity 300,047,606.77 304,653,362.29
Total liabilities and shareholder’s equity 1,678,696,027.44 1,499,390,240.29
3、Consolidated Income Statement for the period ended 30 June 2012
Unit: RMB Yuan
Items Note Jan. to Jun. 2012 Jan. to Jun. 2011
I. Total operating income 1,349,963,182.82 1,167,066,717.47
Including: Operating income 1,349,963,182.82 1,167,066,717.47
Interest income
Insurance gained
Commission charge and commission
income
II. Total operating cost 1,337,881,996.51 1,153,688,107.17
Including: Operating cost 1,167,040,803.45 1,016,732,478.71
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
Sales tax and surcharge 4,285,765.91 3,519,561.95
Sales expenses 85,918,634.36 67,934,941.52
Administration expenses 61,694,140.49 51,471,437.38
Financial expenses 16,942,792.36 12,030,031.87
Losses of devaluation of asset 1,999,859.94 1,999,655.74
Add: Changing income of fair value(Loss is listed
with“-”)
15
Investment income (Loss is listed with “-”) 1,462,045.66 2,853,983.65
Including: Investment income on affiliated
1,462,045.66 2,770,283.65
Company and joint venture and joint venture
Exchange income (Loss is listed with “-”)
III. Operating profit (Loss is listed with “-”) 13,543,231.97 16,232,593.95
Add: Non-operating income 1,206,456.92 1,338,341.42
Less: Non-operating expense 383,261.27 57,372.34
Including: Disposal loss of non-current asset 42,279.87
IV. Total Profit (Loss is listed with “-”) 14,366,427.62 17,513,563.03
Less: Income tax 2,022,892.44 2,763,884.93
V. Net profit (Net loss is listed with “-”) 12,343,535.18 14,749,678.10
Include: the net profit of the consolidated party
before consolidation
Net profit attributable to owner’s equity of parent
6,038,203.37 7,654,146.53
Company
Minority shareholders’ gains and losses 6,305,331.81 7,095,531.57
VI. Earnings per share -- --
i. Basic earnings per share 0.028 0.036
ii. Diluted earnings per share 0.028 0.036
VII. Other comprehensive income -93,168.18 282,079.96
VIII. Total comprehensive income 12,250,367.00 15,031,758.06
Total comprehensive income attributable to owners
5,945,035.19 7,936,226.49
of the parent company the parent company
Total comprehensive income attributable to
6,305,331.81 7,095,531.57
minority interests
Business combination under common control in the period, the net profit of the consolidated party before consolidation: 0 Yuan.
4、Income Statement of Parent Company for the period ended 30 June 2012
Unit: RMB Yuan
Items Note Jan. to Jun. 2012 Jan. to Jun. 2011
I. Sales Income 894,036,249.73 742,733,409.56
Less: Business costs 818,400,146.13 679,207,670.70
Sales tax and surcharges 1,452,402.91 822,008.18
Sales expenses 45,496,592.28 39,477,459.42
Administration expenses 24,016,497.89 22,348,797.17
Financial expenses 14,174,636.35 10,082,794.27
Losses of devaluation of asset 1,008,607.19 1,546,601.86
Add: Changing income of fair value(Loss is
listed with “-”)
Investment income (Loss is listed with “-”) 6,025,223.39 7,074,596.35
Including: Investment income on affiliated
1,448,523.39 2,414,196.35
Company and joint venture
II. Operating profit (Loss is listed with “-”) -4,487,409.63 -3,677,325.69
Add: Non-operating income 172,583.98 70,918.94
16
Less: Non-operating expense 290,929.87 22,492.08
Including: Disposal loss of non-current asset
III. Total Profit (Loss is listed with “-”) -4,605,755.52 -3,628,898.83
Less: Income tax
IV. Net profit (Net loss is listed with “-”) -4,605,755.52 -3,628,898.83
V. Earnings per share -- --
i. Basic earnings per share -0.021 -0.017
ii. Diluted earnings per share -0.021 -0.017
VI. Other comprehensive income
VII. Total comprehensive income -4,605,755.52 -3,628,898.83
5、Consolidated Cash Flow Statement for the period ended 30 June 2012
Unit: RMB Yuan
Items Jan. to Jun. 2012 Jan. to Jun. 2011
I. Cash flows arising from operating activities:
Cash received from the sale of goods or rendering of
1,409,020,267.18 1,095,959,459.48
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
Insured savings and net increase of investment
Net increase of disposal of transaction financial
asset
Cash received from interest, commission charge and
commission
Net increase of capital borrowed
Net increase of returned business capital
Refunds of taxes 779,939.18 735,842.73
Other cash receipts relating to operating activities 69,462,678.66 13,306,037.16
Sub-total of cash inflows arising from operating
1,479,262,885.02 1,110,001,339.37
activities
Cash paid for goods and services 1,288,194,199.25 1,040,803,984.34
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
17
Cash paid for bonus of guarantee slip
Cash paid to and on behalf of employees 92,044,035.37 65,696,655.44
Payments of all types of taxes 53,868,053.64 47,189,266.63
Other cash payments relating to operating activities 73,366,161.31 79,768,515.69
Subtotal of cash outflow arising from operating activities 1,507,472,449.57 1,233,458,422.10
Net cash flows arising from operating activities -28,209,564.55 -123,457,082.73
II. Cash flows arising from investing activities
Cash received from recovering investment
Cash received from investment income 83,700.00
Net cash received from the sale of fixed assets,
intangible assets and other long-term assets long-term 2,006,618.45
assets
Net cash received from disposal of subsidiaries and
other units
Other cash received concerning investing activities 0.00
Subtotal of cash inflow from investing activities 2,006,618.45 83,700.00
Cash paid for purchasing fixed, intangible and other
8,629,668.88 6,428,482.30
long-term assets
Cash paid for investment
Net increase of mortgaged loans
Net cash received from subsidiaries and other units
Other cash paid concerning investing activities 0.00
Subtotal of cash outflow from investing activities 8,629,668.88 6,428,482.30
Net cash flows arising from investing activities -6,623,050.43 -6,344,782.30
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 100,000,000.00 271,000,000.00
Cash received from issuing bonds
Other cash received concerning financing activities 80,000,000.00
Subtotal of cash inflow from financing activities 180,000,000.00 271,000,000.00
Cash paid for settling debts 130,200,000.00 203,000,000.00
Cash paid for dividend and profit distributing or
23,801,804.46 18,312,544.53
interest paying
Including: Dividend and profit of minority shareholder
5,423,300.00
paid by subsidiaries
Other cash paid concerning financing activities 0.00 1,000,000.00
Subtotal of cash outflow from financing activities 154,001,804.46 222,312,544.53
Net cash flows arising from financing activities 25,998,195.54 48,687,455.47
IV. Influence on cash due to fluctuation in exchange
13,427.08 95,634.97
rate
V. Net increase of cash and cash equivalents -8,820,992.36 -81,018,774.59
Add: Balance of cash and cash equivalents at the
310,453,749.89 291,447,011.87
period -begin
VI. Balance of cash and cash equivalents at the period
301,632,757.53 210,428,237.28
-end
18
6、Cash Flow Statement of Parent Company for the period ended 30 June 2012
Unit: RMB Yuan
Items Jan. to Jun. 2012 Jan. to Jun. 2011
I. Cash flows arising from operating activities:
Cash received from the sale of goods or rendering of
878,806,774.63 718,196,416.62
services
Refunds of taxes
Other cash receipts relating to operating activities 55,487,231.32 36,979,615.17
Sub-total of cash inflows arising from operating
934,294,005.95 755,176,031.79
activities
Cash paid for goods and services 854,648,154.34 669,964,252.20
Cash paid to and on behalf of employees 44,259,446.77 38,030,926.23
Payments of all types of taxes 18,139,026.55 17,447,965.23
Other cash payments relating to operating activities 57,750,864.41 51,886,587.26
Subtotal of cash outflow arising from operating activities 974,797,492.07 777,329,730.92
Net cash flows arising from operating activities -40,503,486.12 -22,153,699.13
II. Cash flows arising from investing activities
Cash received from recovering investment
Cash received from investment income 4,576,700.00 4,660,400.00
Net cash received from the sale of fixed assets,
intangible assets and other long-term assets 371,150.00
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 4,947,850.00 4,660,400.00
Cash paid for purchasing fixed, intangible and other
3,332,652.26 2,338,623.63
long-term assets
Cash paid for investment
Net cash received from subsidiaries and other units
Other cash paid concerning investing activities
Subtotal of cash outflow from investing activities 3,332,652.26 2,338,623.63
Net cash flows arising from investing activities 1,615,197.74 2,321,776.37
III. Cash flows arising from financing activities
Cash received from absorbing investment
Cash received from loans 64,000,000.00 201,000,000.00
Cash received from bonds issued
Other cash received concerning financing activities 80,000,000.00
Subtotal of cash inflow from financing activities 144,000,000.00 201,000,000.00
Cash paid for settling debts 80,000,000.00 186,000,000.00
Cash paid for dividend and profit distributing or
14,861,337.46 10,872,553.49
interest paying
Other cash paid concerning financing activities 1,000,000.00
19
Subtotal of cash outflow from financing activities 94,861,337.46 197,872,553.49
Net cash flows arising from financing activities 49,138,662.54 3,127,446.51
IV. Influence on cash due to fluctuation in exchange
-209,185.55 42,688.20
rate
V. Net increase of cash and cash equivalents 10,041,188.61 -16,661,788.05
Add: Balance of cash and cash equivalents at the
193,897,034.53 185,951,591.96
period -begin
VI. Balance of cash and cash equivalents at the period
203,938,223.14 169,289,803.91
-end
7、Consolidated Statement of Changes in Owners’ Equity for the period ended 30 June 2012
Amount for this period
Unit: RMB Yuan
Amount for the period ended 30 June 2012
Shareholders’ equity attributable to the parent Company
Total
Items Less: General Minority
Share Capital Reasonabl Surplus Undistribut shareholders’
Treasury risk Others interests
capital reserves e reserve reserves ed profit equity
Stock provision
215,000,0 185,374,5 589,559.7 -24,923,01 -3,767,746 86,650,225. 458,923,553.
I. Balance at the end of the last year
00.00 33.85 7 8.93 .21 12 60
Add: Changes of accounting policy
Error correction of the last period
Others
215,000,0 185,374,5 589,559.7 -24,923,01 -3,767,746 86,650,225. 458,923,553.
II. Balance at the beginning of this year
00.00 33.85 7 8.93 .21 12 60
III. Increase/ Decrease in this year 6,038,203.
-93,168.18 882,031.81 6,827,067.00
(Decrease is listed with “-”) 37
6,038,203. 6,305,331.8 12,343,535.1
(I) Net profit
37 1 8
(II) Other comprehensive income -93,168.18 -93,168.18
6,038,203. 6,305,331.8 12,250,367.0
Subtotal of (I) and (II) -93,168.18
37 1 0
(III) Shareholders’ contributions and
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
reduction in capital
1. Capital contribution from owners
2. Share-based payment recognized
in shareholders' equity
3. Others
-5,423,300.0
(IV) Profit distribution 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -5,423,300.00
0
1. Withdrawal of surplus reserves
2. Withdrawal of general risk
provisions
-5,423,300.0
3. Distribution for shareholders -5,423,300.00
0
4. Others
(V)Transfer within shareholders'
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
equity
1. Capitalization of capital reserve
2. Capitalization of surplus reserve
20
3. Remedying loss with surplus
reserve
4. Others
(VI) Reasonable reserve
1. Withdrawal in the report period
2. Usage in the report period
(Ⅶ) others
IV. Balance at the end of the report 215,000,0 185,374,5 589,559.7 -18,884,81 -3,860,914 87,532,256. 465,750,620.
year 00.00 33.85 7 5.56 .39 93 60
Amount for last period
Unit: RMB Yuan
Amount for the period ended 30 June 2011
Shareholders’ equity attributable to the parent Company
Total
Items Less: General Minority
Share Capital Reasonabl Surplus Undistribut shareholders’
Treasury risk Others interests
capital reserves e reserve reserves ed profit equity
Stock provision
215,000,0 185,374,5 589,559.7 -35,747,15 -4,599,976 60,497,146. 421,114,111.0
I. Balance at the end of the last year
00.00 33.85 7 2.65 .23 26 0
Add: Retroactive adjustment under
the same control
Add: Changes of accounting policy
Error correction of the last period
Others
215,000,0 185,374,5 589,559.7 -35,747,15 -4,599,976 60,497,146. 421,114,111.0
II. Balance at the beginning of this year
00.00 33.85 7 2.65 .23 26 0
III. Increase/ Decrease in this year 10,824,13 832,230.0 26,153,078. 37,809,442.6
(Decrease is listed with “-”) 3.72 2 86 0
10,824,13 12,547,174. 23,371,308.4
(I) Net profit
3.72 73 5
832,230.0
(II) Other comprehensive income 832,230.02
2
10,824,13 832,230.0 12,547,174. 24,203,538.4
Subtotal of (I) and (II)
3.72 2 73 7
(III) Shareholders’ contributions and 21,910,463. 21,910,463.7
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
reduction in capital 79 9
1. Capital contribution from owners
2. Share-based payment recognized
in shareholders' equity
21,910,463. 21,910,463.7
3. Others
79 9
-8,304,559.6
(IV) Profit distribution 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -8,304,559.66
6
1. Withdrawal of surplus reserves
2. Withdrawal of general risk
provisions
-8,304,559.6
3. Distribution for shareholders -8,304,559.66
6
4. Others
(V)Transfer within shareholders'
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
equity
1. Capitalization of capital reserve
2. Capitalization of surplus reserve
3. Remedying loss with surplus
reserve
4. Others
(VI) Reasonable reserve
21
1. Withdrawal in the report period
2. Usage in the report period
(Ⅶ)others
IV. Balance at the end of the report 215,000,0 185,374,5 589,559.7 -24,923,01 -3,767,746 86,650,225. 458,923,553.
year 00.00 33.85 7 8.93 .21 12 60
8、Statement of Changes in Owners’ Equity of Parent Company for the period ended 30 June 2012
Amount for this period
Unit: RMB Yuan
Amount for the period ended 30 June 2012
Less: General Total
Items Capital Reasonable Surplus Undistributed
Share capital Treasury risk shareholders’
reserves reserve reserves profit
Stock provision equity
215,000,000. 172,417,299. -83,353,497.2 304,653,362.
I. Balance at the end of the last year 589,559.76
00 81 8 29
Add: Changes of accounting policy
Error correction of the last period
Others
215,000,000. 172,417,299. -83,353,497.2 304,653,362.
II. Balance at the beginning of this year 589,559.76
00 81 8 29
III. Increase/ Decrease in this year
-4,605,755.52 -4,605,755.52
(Decrease is listed with “-”)
(I) Net profit -4,605,755.52 -4,605,755.52
(II) Other comprehensive income
Subtotal of (I) and (II) -4,605,755.52 -4,605,755.52
(III) Shareholders’ contributions and
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
reduction in capital
1. Capital contribution from owners
2. Share-based payment recognized in
shareholders' equity
3. Others
(IV) Profit distribution 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1. Withdrawal of surplus reserves
2. Withdrawal of general risk
provisions
3. Distribution for shareholders
4. Others
(V)Transfer within shareholders' equity 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1. Capitalization of capital reserve
2. Capitalization of surplus reserve
3. Remedying loss with surplus
reserve
4. Others
(VI) Reasonable reserve
1. Withdrawal in the report period
2. Usage in the report period
(Ⅶ)others
215,000,000. 172,417,299. -87,959,252.8 300,047,606.
IV. Balance at the end of the report year 589,559.76
00 81 0 77
Amount for last period
Unit: RMB Yuan
22
Amount for the period ended 30 June 2011
Less: General Total
Items Capital Reasonable Surplus Undistributed
Share capital Treasury risk shareholders’
reserves reserve reserves profit
Stock provision equity
215,000,000. 172,417,299. -71,769,720.8 316,237,138.
I. Balance at the end of the last year 589,559.76
00 81 2 75
Add: Changes of accounting policy
Error correction of the last period
Others
215,000,000. 172,417,299. -71,769,720.8 316,237,138.
II. Balance at the beginning of this year 589,559.76
00 81 2 75
III. Increase/ Decrease in this year -11,583,776.4 -11,583,776.4
(Decrease is listed with “-”) 6 6
-11,583,776.4 -11,583,776.4
(I) Net profit
6 6
(II) Other comprehensive income
-11,583,776.4 -11,583,776.4
Subtotal of (I) and (II)
6 6
(III) Shareholders’ contributions and
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
reduction in capital
1. Capital contribution from owners
2. Share-based payment recognized in
shareholders' equity
3. Others
(IV) Profit distribution 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1. Withdrawal of surplus reserves
2. Withdrawal of general risk
provisions
3. Distribution for shareholders
4. Others
(V)Transfer within shareholders' equity 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1. Capitalization of capital reserve
2. Capitalization of surplus reserve
3. Remedying loss with surplus
reserve
4. Others
(VI) Reasonable reserve
1. Withdrawal in the report period
2. Usage in the report period
(Ⅶ)others
215,000,000. 172,417,299. -83,353,497.2 304,653,362.
IV. Balance at the end of the report year 589,559.76
00 81 8 29
(III) Notes to financial statement
1. Changes of main accounting policy and accounting estimation as well as accounting errors
modification and figures
(1) Changes of accounting policy
Is there any change on accounting policy in reporting period?
□ Yes √ No
(2) Changes of accounting estimation
Is there any change on main accounting estimation in reporting period?
□ Yes √ No
(3) Accounting errors modification
Is there has previous accounting errors modified in reporting period?
□ Yes √ No
23
2. Reasons of consolidation range changed in aspect of consolidation statement
Subsidiary of the Company--Nanjing Mennekes Electrical Appliances Co., Ltd has more proportion in share
holding dated 31 December 2011, balance sheet was consolidated in the consolidation range for year of 2011,
therefore, one company increase in the profit statement in this period.
3. If Non-standard Unqualified Opinion is supplied, list the related notes to the matters
involved.
Non-applicable
Chairman: Sun Liang
Approval dated by the Board: 24 August 2012
24
