Hainan Jingliang Holdings Co., Ltd. First Quarterly Report 2022
Stock Code: 000505, 200505 Stock Name: JLKG, JL-B Announcement No. 2022-043
HAINAN JINGLIANG HOLDINGS CO., LTD.
FIRST QUARTERLY REPORT 2022
Hainan Jingliang Holdings Co., Ltd. (hereinafter referred to as the “Company”) and all the
members of the Company’s Board of Directors hereby guarantee that the contents of this
Report are true, accurate and complete and free of any misrepresentations, misleading
statements or material omissions.
Important Notes:
1. The Board of Directors, the Supervisory Committee as well as the directors, supervisors and senior
management of the Company hereby guarantee that the contents of this Report are true, accurate and complete and
free of any misrepresentations, misleading statements or material omissions, and collectively and individually
accept legal responsibility for such contents.
2. The Company’s legal representative, head for financial affairs, and head of the financial department (equivalent
to financial manager) hereby guarantee that the financial statements carried in this Report are true, accurate and
complete.
3. Indicate whether the financial statements in this Report have been audited by an independent auditor.
□Yes √ No
I Key Financial Information
(I) Key Accounting Data and Financial Indicators
Indicate whether there is any retrospectively restated datum in the table below.
□ Yes √ No
Q1 2022 Q1 2021 YoY change (%)
Operating revenue (RMB) 3,024,441,143.44 2,338,783,061.35 29.32%
Net profit attributable to the listed
36,992,676.25 36,585,077.36 1.11%
company’s shareholders (RMB)
Net profit attributable to the listed
company’s shareholders before exceptional 36,436,748.65 32,694,567.66 11.45%
gains and losses (RMB)
Net cash generated from/used in operating
-193,652,734.08 274,757,224.16 -170.48%
activities (RMB)
Basic earnings per share (RMB/share) 0.05 0.05 0.00%
Diluted earnings per share (RMB/share) 0.05 0.05 0.00%
Weighted average return on equity (%) 1.26% 1.34% -0.08%
31 March 2022 31 December 2021 Change (%)
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Hainan Jingliang Holdings Co., Ltd. First Quarterly Report 2022
Total assets (RMB) 6,224,379,657.33 6,046,600,058.90 2.94%
Equity attributable to the listed company’s
2,952,775,710.84 2,915,802,291.05 1.27%
shareholders (RMB)
(II) Exceptional Gains and Losses
√ Applicable □ Not applicable
Unit: RMB
Item Q1 2022 Note
Government grants through profit or loss (exclusive of government grants
continuously given in the Company’s ordinary course of business at fixed 393,224.15
quotas or amounts as per the government’s policies and standards)
Gain or loss on fair-value changes on held-for-trading financial assets and
liabilities & income from disposal of held-for-trading financial assets and
227,979.72
liabilities and available-for-sale financial assets (exclusive of the effective
portion of hedges that arise in the Company’s ordinary course of business)
Non-operating income and expense other than the above 147,654.85
Less: Income tax effects 192,214.68
Non-controlling interests effects (net of tax) 20,716.44
Total 555,927.60 --
Other items that meet the definition of exceptional gain/loss:
□ Applicable √ Not applicable
No such cases in the Reporting Period.
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public—Exceptional Gain/Loss Items:
□ Applicable √ Not applicable
No such cases in the Reporting Period.
(III) Changes in Key Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
1. Monetary assets increased primarily driven by the maturity of some investments in wealth management
products and the increased advances from customers in the current period.
2. Prepayments increased primarily driven by the increased prepayments to suppliers as a result the purchases of
oils and oilseeds at the end of the current period.
3. Construction in progress increased primarily driven by the production line automation project of subsidiary in
the current period.
4. Derivative financial liabilities increased primarily driven by the changes in the fair value of hedging
instruments in the current period.
5. Cost of sales increased primarily driven by the increased costs of raw materials as a result of market changes in
the current period.
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Hainan Jingliang Holdings Co., Ltd. First Quarterly Report 2022
6. Net cash generated from operating activities decreased primarily driven by the increased purchase amount of
oils and oilseeds such as soybean in the current period.
7. Net cash generated from investing activities increased primarily driven by the maturity of some investments in
wealth management products in the current period.
8. Net cash generated from financing activities decreased primarily driven by higher repayments of bank loans in
the current period.
II Shareholder Information
(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as well
as Holdings of Top 10 Shareholders
Unit: share
Number of preferred
shareholders with resumed
Number of ordinary shareholders at the period-end 94,397 0
voting rights at the period-end
(if any)
Top 10 shareholders
Shareholdi Shares in pledge, marked or
Nature of Total shares Restricted frozen
Name of shareholder ng
shareholder held shares held
percentage Status Shares
State-owned
BEIJING GRAIN GROUP CO., LTD. 39.68% 288,439,561
legal person
BEIJING STATE-OWNED CAPITAL
State-owned
OPERATION AND MANAGEMENT 6.67% 48,510,460
legal person
COMPANY LIMITED
Domestic
WANG YUECHENG natural 5.66% 41,159,887 41,159,887
person
Foreign
LISHERYNZHANMING natural 0.60% 4,341,900
person
BEIJING XIHE ELITE
INVESTMENT CO., LTD.-XIHE AI
Other 0.39% 2,861,318
STRATEGY NO.1 PRIVATE
SECURITIES INVESTMENT FUND
Domestic
MEI JIANYING natural 0.36% 2,604,203
person
AGRICULTURAL BANK OF
CHINA LIMITED-SWS MU
Other 0.34% 2,472,800
INTELLIGENT DRIVING STOCK
SECURITIES INVESTMENT FUND
Domestic
ZHANG XIAOXIA natural 0.27% 1,949,250
person
Domestic
WANG XIAOXING natural 0.23% 1,679,200
person
CITIC SECURITIES COMPANY
LIMITED-TIANHONG CHINA Other 0.19% 1,416,800
SECURITIES FOOD AND
BEVERAGE EXCHANGE TRADED
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Hainan Jingliang Holdings Co., Ltd. First Quarterly Report 2022
FUND
Top 10 unrestricted shareholders
Shares by type
Name of shareholder Unrestricted shares held
Type Shares
RMB-denominate
BEIJING GRAIN GROUP CO., LTD. 288,439,561 288,439,561
d ordinary stock
BEIJING STATE-OWNED CAPITAL
RMB-denominate
OPERATION AND MANAGEMENT COMPANY 48,510,460 48,510,460
d ordinary stock
LIMITED
Domestically
LISHERYNZHANMING 4,341,900 listed foreign 4,341,900
stock
BEIJING XIHE ELITE INVESTMENT CO.,
RMB-denominate
LTD.-XIHE AI STRATEGY NO.1 PRIVATE 2,861,318 2,861,318
d ordinary stock
SECURITIES INVESTMENT FUND
RMB-denominate
MEI JIANYING 2,604,203 2,604,203
d ordinary stock
AGRICULTURAL BANK OF CHINA
RMB-denominate
LIMITED-SWS MU INTELLIGENT DRIVING 2,472,800 2,472,800
d ordinary stock
STOCK SECURITIES INVESTMENT FUND
Domestically
ZHANG XIAOXIA 1,949,250 listed foreign 1,949,250
stock
RMB-denominate
WANG XIAOXING 1,679,200 1,679,200
d ordinary stock
CITIC SECURITIES COMPANY
LIMITED-TIANHONG CHINA SECURITIES RMB-denominate
1,416,800 1,416,800
FOOD AND BEVERAGE EXCHANGE TRADED d ordinary stock
FUND
SHANGHAI RED WALL TAIHE FUND
MANAGEMENT CO., LTD. –JINHU RMB-denominate
1,233,600 1,233,600
INCREASING INDEX PHASE IV PRIVATE d ordinary stock
INVESTMENT FUND
① Beijing State-Owned Capital Operation and Management Company
Limited owns 100% of Beijing Grain Group Co., Ltd., and Beijing Grain
Group Co., Ltd. is the controlling shareholder of the Company (a 39.68%
Related or acting-in-concert parties among the
holding). ② Wang Yuecheng is a Deputy General Manager of the Company.
shareholders above
Apart from the aforesaid, the Company does not know whether there are any
other related parties or acting-in-concert parties among the top 10
shareholders.
Shareholder Wang Xiaoxing held 1,679,200 shares in the Company through
Top 10 shareholders engaged in securities margin
his account of collateral securities for margin trading in Soochow Securities
trading (if any)
Co., Ltd.
(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
III Other Significant Events
√ Applicable □ Not applicable
1. On 14 January 2022, the Company received the CSRC’s Notice on the First Feedback for Review of
Administrative Permission Projects (No. 213494) issued by China Securities Regulatory Commission (hereinafter
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Hainan Jingliang Holdings Co., Ltd. First Quarterly Report 2022
referred to as “CSRC”). The Company actively and carefully checked the problems stipulated in the feedback and
implemented them one by one with the relevant intermediary. On 12 February 2022, the Company disclosed the
Reply on the Feedback for the Application of Private Placement of Stocks by Hainan Jingliang Holdings Co., Ltd.
2. In order to implement relevant work requirements of governing enterprises based on laws and further improve
the Company’s legal construction level, the Company revised the relevant contents of the Articles of Association
based on the actual legal work and the Company’s compliance management requirements. For more details, please
refer to the Announcement on Revising the Articles of Association by Hainan Jingliang Holdings Co., Ltd. (No.:
2022-009) disclosed by the Company on 24 February 2022.
3. On 22 March 2022, the Company and Beijing Capital Agribusiness & Foods Group Co., Ltd. signed the
Supplementary Agreement of the Conditional Subscription Agreement. Agreed by both parties, the number of this
private placement of stocks was changed from not exceeding 105,633,802 shares to not exceeding 92,195,422
shares (inclusive) and the intended total raised fund through this private placement of stocks (including issuance
expenses) was changed from RMB600 million to not exceeding RMB523.67 million (inclusive). The Company
revised documents related to this private placement of stocks in accordance with the adjusted total amount of
funds raised, the number of issues and other content. The private placement of stocks and related-party
transactions are still subject to the approval of CSRC.
4. In order to build and improve the Company’s long-term incentive mechanism, attract and retain outstanding
talents and fully mobilize the enthusiasm of core backbones, the Company disclosed the Restricted Stock Incentive
Plan in 2022 (Draft) and its Abstract by Hainan Jingliang Holdings Co., Ltd. on 23 March 2022. The number of
incentive objects to be granted for the first time is not more than 45, and the number of restricted shares to be
granted is 7.21 million shares, accounting for about 0.99% of the Company’s total share capital. The plan still
needs to be approved by the Company’s general meeting of shareholders. For more details, please refer to relevant
announcements disclosed by the Company on 23 March 2022.
IV Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by Hainan Jingliang Holdings Co., Ltd.
31 March 2022
Unit: RMB
Item 31 March 2022 31 December 2021
Current assets:
Monetary assets 721,400,323.02 507,144,668.45
Settlement reserve
Loans to other banks and financial institutions
Held-for-trading financial assets 20,000,000.00 40,377,048.08
Derivative financial assets
Notes receivable
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Hainan Jingliang Holdings Co., Ltd. First Quarterly Report 2022
Accounts receivable 70,691,097.80 82,694,094.62
Receivables financing
Prepayments 287,678,238.76 87,803,762.15
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract reserve
Other receivables 291,315,569.58 284,756,636.27
Including: Interest receivable
Dividends receivable
Financial assets purchased under resale agreements
Inventories 1,745,367,023.26 1,903,372,572.18
Contract assets
Assets held for sale
Current portion of non-current assets 156,139,100.00 156,139,100.00
Other current assets 800,188,506.14 820,500,621.47
Total current assets 4,092,779,858.56 3,882,788,503.22
Non-current assets:
Loans and advances to customers
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 235,595,387.41 230,799,437.53
Investments in other equity instruments 20,000,000.00 20,000,000.00
Other non-current financial assets
Investment property 20,911,592.77 20,925,683.56
Fixed assets 1,094,746,606.76 1,120,758,409.49
Construction in progress 15,075,786.27 11,220,840.10
Productive living assets
Oil and gas assets
Right-of-use assets 7,651,044.48 8,045,406.28
Intangible assets 336,733,564.12 339,970,477.87
Development costs
Goodwill 191,394,422.51 191,394,422.51
Long-term prepaid expense 17,487,016.89 17,383,818.41
Deferred income tax assets 2,262,380.82 13,571,063.19
Other non-current assets 189,741,996.74 189,741,996.74
Total non-current assets 2,131,599,798.77 2,163,811,555.68
Total assets 6,224,379,657.33 6,046,600,058.90
Current liabilities:
Short-term borrowings 1,009,268,752.12 1,521,669,601.35
Borrowings from the central bank
Loans from other banks and financial institutions
Held-for-trading financial liabilities
Derivative financial liabilities 115,457,898.63 70,305,871.37
Notes payable 487,228,166.27 0.00
Accounts payable 147,990,738.95 186,748,746.42
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Hainan Jingliang Holdings Co., Ltd. First Quarterly Report 2022
Advances from customers 1,376,416.48 996,173.41
Contract liabilities 615,316,089.75 520,816,995.93
Financial assets sold under repurchase agreements
Customer deposits and deposits from other banks and
financial institutions
Payables for acting trading of securities
Payables for underwriting of securities
Employee benefits payable 18,724,912.42 42,130,650.49
Taxes and levies payable 48,218,431.20 104,347,852.69
Other payables 99,739,929.37 73,985,586.39
Including: Interest payable 21,082,795.47 21,082,795.47
Dividends payable 3,213,302.88 3,213,302.88
Fees and commissions payable
Reinsurance payables
Liabilities directly associated with assets held for sale
Current portion of non-current liabilities 1,242,398.95 1,582,978.69
Other current liabilities 66,507,093.43 22,994,553.60
Total current liabilities 2,611,070,827.57 2,545,579,010.34
Non-current liabilities:
Insurance contract reserve
Long-term borrowings 71,000,000.00 71,000,000.00
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities 1,756,141.24 1,694,702.62
Long-term payables
Long-term employee benefits payable 5,677,134.00 5,677,134.00
Provisions
Deferred income 64,785,936.58 65,244,499.48
Deferred income tax liabilities 115,371,757.01 45,250,919.91
Other non-current liabilities
Total non-current liabilities 258,590,968.83 188,867,256.01
Total liabilities 2,869,661,796.40 2,734,446,266.35
Owners’ equity:
Share capital 726,950,251.00 726,950,251.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserves 1,675,918,350.95 1,675,918,350.95
Less: Treasury stock
Other comprehensive income -701,538.68 -682,282.22
Specific reserve
Surplus reserves 122,122,436.98 122,122,436.98
General reserve
Retained earnings 428,486,210.59 391,493,534.34
Total equity attributable to owners of the Company as the
2,952,775,710.84 2,915,802,291.05
parent
Non-controlling interests 401,942,150.09 396,351,501.50
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Hainan Jingliang Holdings Co., Ltd. First Quarterly Report 2022
Total owners’ equity 3,354,717,860.93 3,312,153,792.55
Total liabilities and owners’ equity 6,224,379,657.33 6,046,600,058.90
Legal representative: Wang Chunli Head for financial affairs: Guan Ying
Head of the financial department: Liu Quanli
2. Consolidated Income Statement
Unit: RMB
Item Q1 2022 Q1 2021
1. Revenues 3,024,441,143.44 2,338,783,061.35
Including: Operating revenue 3,024,441,143.44 2,338,783,061.35
Interest income
Insurance premium income
Fee and commission income
2. Costs and expenses 3,012,615,529.48 2,333,218,041.73
Including: Cost of sales 2,914,408,603.03 2,226,013,163.78
Interest expense
Fee and commission expense
Surrenders
Net insurance claims paid
Net amount provided as insurance contract
reserve
Expenditure on policy dividends
Reinsurance premium expense
Taxes and levies 6,413,981.99 5,955,781.15
Selling expense 37,678,412.70 48,411,864.19
Administrative expense 44,323,382.26 44,040,201.27
R&D expense 2,267,459.83 2,417,187.46
Finance costs 7,523,689.67 6,379,843.88
Including: Interest expense 8,818,262.01 8,671,148.55
Interest income 3,429,892.14 2,685,086.53
Add: Other income 2,423,270.98 3,012,534.83
Return on investment (“-” for loss) 5,018,549.94 4,619,547.66
Including: Share of profit or loss of joint ventures
4,795,949.88 0.00
and associates
Income from the derecognition of financial assets
at amortized cost (“-” for loss)
Exchange gain (“-” for loss)
Net gain on exposure hedges (“-” for loss)
Gain on changes in fair value (“-” for loss) 41,070,955.32 47,688,252.08
Credit impairment loss (“-” for loss) -600.00 0.00
Asset impairment loss (“-” for loss)
Asset disposal income (“-” for loss) 0.00 -24,042.07
3. Operating profit (“-” for loss) 60,337,790.20 60,861,312.12
Add: Non-operating income 332,367.28 489,618.17
Less: Non-operating expense 184,982.43 151,256.17
4. Gross profit (“-” for loss) 60,485,175.05 61,199,674.12
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Hainan Jingliang Holdings Co., Ltd. First Quarterly Report 2022
Less: Income tax expense 17,901,850.21 19,094,319.28
5. Net profit (“-” for net loss) 42,583,324.84 42,105,354.84
5.1 By operating continuity
5.1.1 Net profit from continuing operations (“-” for net
42,583,324.84 42,105,354.84
loss)
5.1.2 Net profit from discontinued operations (“-” for net
loss)
5.2 By ownership
5.2.1 Net profit attributable to owners of the Company
36,992,676.25 36,585,077.36
as the parent
5.2.1 Net profit attributable to non-controlling interests 5,590,648.59 5,520,277.48
6. Other comprehensive income, net of tax -19,256.46 60,282.38
Attributable to owners of the Company as the parent -19,256.46 60,282.38
6.1 Items that will not be reclassified to profit or loss
6.1.1 Changes caused by remeasurements on defined
benefit schemes
6.1.2 Other comprehensive income that will not be
reclassified to profit or loss under the equity method
6.1.3 Changes in the fair value of investments in other
equity instruments
6.1.4 Changes in the fair value arising from changes
in own credit risk
6.1.5 Other
6.2 Items that will be reclassified to profit or loss -19,256.46 60,282.38
6.2.1 Other comprehensive income that will be
reclassified to profit or loss under the equity method
6.2.2 Changes in the fair value of other debt
investments
6.2.3 Other comprehensive income arising from the
reclassification of financial assets
6.2.4 Credit impairment allowance for other debt
investments
6.2.5 Reserve for cash flow hedges
6.2.6 Differences arising from the translation of
-19,256.46 60,282.38
foreign currency-denominated financial statements
6.2.7 Other
Attributable to non-controlling interests
7. Total comprehensive income 42,564,068.38 42,165,637.22
Attributable to owners of the Company as the parent 36,973,419.79 36,645,359.74
Attributable to non-controlling interests 5,590,648.59 5,520,277.48
8. Earnings per share
8.1 Basic earnings per share 0.05 0.05
8.2 Diluted earnings per share 0.05 0.05
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees before
the combinations was RMBXXX, with the amount for the same period of last year being RMBXXX.
Legal representative: Wang Chunli Head for financial affairs: Guan Ying
Head of the financial department: Liu Quanli
3. Consolidated Cash Flow Statement
Unit: RMB
Item Q1 2022 Q1 2021
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Hainan Jingliang Holdings Co., Ltd. First Quarterly Report 2022
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of
3,490,873,470.89 2,723,222,764.35
services
Net increase in customer deposits and deposits from other
banks and financial institutions
Net increase in borrowings from the central bank
Net increase in loans from other financial institutions
Premiums received on original insurance contracts
Net proceeds from reinsurance
Net increase in deposits and investments of policy holders
Interest, fees and commissions received
Net increase in loans from other banks and financial
institutions
Net increase in proceeds from repurchase transactions
Net proceeds from acting trading of securities
Tax and levy rebates 1,867,024.15 2,397,841.07
Cash generated from other operating activities 469,056,216.14 500,143,601.78
Subtotal of cash generated from operating activities 3,961,796,711.18 3,225,764,207.20
Payments for commodities and services 3,086,121,372.97 2,302,395,084.62
Net increase in loans and advances to customers
Net increase in deposits in the central bank and other banks
and financial institutions
Payments for claims on original insurance contracts
Net increase in loans to other banks and financial
institutions
Interest, fees and commissions paid
Policy dividends paid
Cash paid to and for employees 98,831,197.02 92,696,571.12
Taxes and levies paid 75,217,482.59 68,496,499.66
Cash used in other operating activities 895,279,392.68 487,418,827.64
Subtotal of cash used in operating activities 4,155,449,445.26 2,951,006,983.04
Net cash generated from/used in operating activities -193,652,734.08 274,757,224.16
2. Cash flows from investing activities:
Proceeds from disinvestment 788,813,406.52 553,344,218.29
Return on investment 287,632.12 4,786,581.45
Net proceeds from the disposal of fixed assets, intangible
85,920.00 85,994.78
assets and other long-lived assets
Net proceeds from the disposal of subsidiaries and other
business units
Cash generated from other investing activities
Subtotal of cash generated from investing activities 789,186,958.64 558,216,794.52
Payments for the acquisition of fixed assets, intangible
7,527,581.75 16,999,069.25
assets and other long-lived assets
Payments for investments 325,100,000.00 510,000,000.00
Net increase in pledged loans granted
Net payments for the acquisition of subsidiaries and other
business units
Cash used in other investing activities
Subtotal of cash used in investing activities 332,627,581.75 526,999,069.25
Net cash generated from/used in investing activities 456,559,376.89 31,217,725.27
3. Cash flows from financing activities:
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Hainan Jingliang Holdings Co., Ltd. First Quarterly Report 2022
Capital contributions received
Including: Capital contributions by non-controlling
interests to subsidiaries
Borrowings raised 1,703,236,552.54 921,639,571.50
Cash generated from other financing activities
Subtotal of cash generated from financing activities 1,703,236,552.54 921,639,571.50
Repayment of borrowings 1,736,260,054.46 908,547,195.60
Interest and dividends paid 15,417,654.47 16,299,326.30
Including: Dividends paid by subsidiaries to
non-controlling interests
Cash used in other financing activities
Subtotal of cash used in financing activities 1,751,677,708.93 924,846,521.90
Net cash generated from/used in financing activities -48,441,156.39 -3,206,950.40
4. Effect of foreign exchange rates changes on cash and cash
-41,138.79 38,441.99
equivalents
5. Net increase in cash and cash equivalents 214,424,347.63 302,806,441.02
Add: Cash and cash equivalents, beginning of the period 506,928,810.69 334,389,017.41
6. Cash and cash equivalents, end of the period 721,353,158.32 637,195,458.43
(II) Independent Auditor’s Report
Indicate by tick mark whether the financial statements above have been audited by an independent auditor.
□ Yes √ No
These financial statements have not been audited by such an auditor.
Hainan Jingliang Holdings Co., Ltd.
27 April 2022
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