Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
Tsann Kuen (China) Enterprise Co., Ltd.
Report for the Third Quarter of 2013
October 2013
1
Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
Section I. Important Reminders
The Board of Directors, the Supervisory Committee as well as all directors, supervisors and senior
management staff of Tsann Kuen (China) Enterprise Co., Ltd. (hereinafter referred to as “the
Company”) warrant that this report is factual, accurate and complete without any false record,
misleading statement or material omission. And they shall be jointly and severally liable for that.
Mr. Jian Derong, company principal, and Mr. Chen Zongyi, head of the accounting work & the
accounting division (head of accounting) jointly declare that the financial statements carried in this
report are factual, accurate and complete.
All directors attended the board session for reviewing this report.
This report is prepared in both Chinese and English. Should there be any discrepancy between the
two versions, the Chinese version shall prevail.
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Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
Section II. Financial Highlights & Change of Shareholders
I. Financial highlights
Does the Company adjust retrospectively or restate financial data of previous periods?
□ Yes √ No
Unit: RMB Yuan
Item 30 Sept. 2013 31 Dec. 2012 Increase/decrease (%)
Total assets 1,966,819,059.34 1,679,847,838.18 17.08%
Owners’ equity attributable to shareholders
505,765,831.98 488,049,282.91 3.63%
of the Company (RMB Yuan)
YoY YoY
Item Jul.-Sept. 2013 increase/decrease Jan.-Sept. 2013 increase/decreas
(%) e (%)
Operating revenues 583,904,520.84 -7.29% 1,461,748,728.64 -13.96%
Net profit attributable to shareholders of the
19,592,714.88 14.18% 30,018,395.73 1452.29%
Company
Net profit attributable to shareholders of the
10,010,599.25 -11.76% 10,718,222.14 242.31%
Company after extraordinary gains and losses
Net cash flows from operating activities 94,008,888.89 18.44% 30,572,343.41 -6.82%
Basic EPS 0.11 22.22% 0.16 1700.00%
Diluted EPS 0.11 22.22% 0.16 1700.00%
Weighted average ROE (%) 3.94% 0.24% 6.04% 6.52%
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Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
Items and amounts of extraordinary gains and losses
√Applicable □Inapplicable
Unit: RMB Yuan
Amount as of Jan.-Sept.
Item Note
2013 (unit: RMB Yuan)
Gains/losses on the disposal of non-current assets 2,963,906.51
Tax rebates, reductions or exemptions due to approval beyond authority or the
lack of official approval documents
Government grants recognized in the current period, except for those acquired
in the ordinary course of business or granted at certain quotas or amounts 2,918,970.55
according to the country’s unified standards
Capital occupation charges on non-financial enterprises that recorded into
current gains and losses
Gains due to that the investment costs for the Company to obtain subsidiaries,
associates and joint ventures are lower than the enjoyable fair value of the
identifiable net assets of the investees when making the investments
Gain/loss on non-monetary asset swap
Gain/loss on entrusting others with investments or asset management
Asset impairment provisions due to acts of God such as natural disasters
Gain/loss on debt restructuring
Expenses for business reorganization, such as expenses for staffing,
reorganization etc.
Gain/loss on the part over the fair value due to transactions with distinctly
unfair prices
Current gains and losses of subsidies acquired from business combination
under the same control as from period-begin to combination date
Gain/loss on contingent events irrelevant to the Company’s normal business
Gains on sale of
Gains and losses on change in fair value from tradable financial assets and
forward exchange
tradable financial liabilities, as well as investment income from disposal of
contracts, fair value
tradable financial assets and tradable financial liabilities and financial assets 23,736,297.24
changes, wealth
available for sales, except for effective hedging related with normal businesses
management products
of the Company
and other current assets
Reversal of impairment provisions for the accounts receivable on which
impairment tests were carried out separately
Gain/loss on external entrustment loans
Gain/loss on change of the fair value of investing real estate of which the
subsequent measurement is carried out adopting the fair value method
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Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
Amount as of Jan.-Sept.
Item Note
2013 (unit: RMB Yuan)
Effect on current gains/losses when a one-off adjustment is made to current
gains/losses according to requirements of taxation, accounting and other
relevant laws and regulations
Custody fee income when entrusted with operation
Other non-operating income and expenses other than the above 149,344.76
Gain on disposal of
Other gain/loss items that meet the definition of an extraordinary gain/loss 42,720.64
subsidiaries
Less: Income tax effects 4,394,446.96
Minority interests effects (after tax) 6,116,619.15
Total 19,300,173.59
Explain the reasons if the Company classifies an item as an extraordinary gain/loss according to the definition in
the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public—Extraordinary Gains and Losses, or classifies any extraordinary gain/loss item mentioned in the said
explanatory announcement as a recurrent gain/loss item
□ Applicable √ Inapplicable
II. Total number of shareholders at the period-end and shares held by the top ten
shareholders
Unit: share
Total number of shareholders at the period-end 26,043
Shares held by the top ten shareholders
Number of Number of the Pledged or frozen shares
Nature of Shareholding
Name of shareholder the shares non-floating Status of Number of
shareholder percentage (%)
held shares held shares shares
Foreign
FORDCHEE DEVELOPMENT LIMITED 29.1% 53,940,530 0 Naught Naught
corporation
Foreign
EUPA INDUSTRY CORPORATION LIMITED 13.83% 25,633,718 0 Naught Naught
corporation
Foreign
FILLMAN INVESTMENTS LIMITED 2.49% 4,621,596 0 Naught Naught
corporation
Domestic
Chen Yongquan 0.9% 1,668,747 0 Naught Naught
natural person
Foreign
Xia Qianru 0.7% 1,299,545 0 Naught Naught
natural person
Foreign
Chen Lijuan 0.55% 1,012,791 0 Naught Naught
natural person
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Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
Foreign
Chen Yongqing 0.53% 981,598 0 Naught Naught
natural person
Foreign
CSC SECURITIES (HK) LTD. 0.46% 859,589 0 Naught Naught
corporation
Domestic
Zou Shilin 0.45% 831,400 0 Naught Naught
natural person
Foreign
Cai Shuhui 0.39% 715,739 0 Naught Naught
natural person
Shares held by the top ten floating share holders
Type of shares
Name of shareholder Number of floating shares held
Type Number
Domestically listed
FORDCHEE DEVELOPMENT LIMITED 53,940,530 53,940,530
foreign shares
Domestically listed
EUPA INDUSTRY CORPORATION LIMITED 25,633,718 25,633,718
foreign shares
Domestically listed
FILLMAN INVESTMENTS LIMITED 4,621,596 4,621,596
foreign shares
Domestically listed
Chen Yongquan 1,668,747 1,668,747
foreign shares
Domestically listed
Xia Qianru 1,299,545 1,299,545
foreign shares
Domestically listed
Chen Lijuan 1,012,791 1,012,791
foreign shares
Domestically listed
Chen Yongqing 981,598 981,598
foreign shares
Domestically listed
CSC SECURITIES (HK) LTD. 859,589 859,589
foreign shares
Domestically listed
Zou Shilin 831,400 831,400
foreign shares
Domestically listed
Cai Shuhui 715,739 715,739
foreign shares
The top three shareholders are the Company’s corporate controlling
shareholders. Shareholder Cai Shuhui is the wife of Wu Tsann Kuen, the
Explanation on associated relationship or persons acting in Company’s actual controller. It is unknown to the Company whether there
concert among the above-mentioned shareholders exists associated relationship among the shareholders above or they are
acting-in-concert entities as stipulated in the Administrative Measures on
Information Disclosure of Changes in Shareholding of Listed Companies.
Did any shareholder of the Company carry out an agreed buy-back in the reporting period?
□ Yes √ No
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Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
Section III. Significant Events
I. Major changes of main accounting statement items and financial indicators in the reporting
period, as well as reasons for the changes
√Applicable □Inapplicable
Unit: RMB Yuan
Increase/dec
Item 30 Sept. 2013 31 Dec. 2012 Main reason for the change
rease (%)
Transactional financial Assessed gain on the undelivered forward
15,265,716.60 0.00 100.00%
assets exchange contracts
Notes receivable 2,114,690.00 3,356,956.00 -37.01% Mature notes receivable were honored.
Prepayments 4,973,933.71 3,348,515.58 48.54% LC prepayments for goods
Other receivables 13,793,156.32 41,516,107.15 -66.78% Mature receivables were honored.
Non-current assets due The long-term receivable on equipment due
286,816.12 2,434,759.94 -88.22%
within one year within one year was collected.
Other current assets 170,000,000.00 0.00 100.00% Some wealth management products were bought.
The mature long-term receivable on equipment
Long-term receivables 74,219.76 3,370,946.33 -97.80%
was collected.
The operating lease of land and housing
properties increased. And some fixed asset and
Investing real estate 61,460,935.07 39,319,457.87 56.31%
intangible asset items were restated as investing
real estate items.
Some intangible asset items were restated as
Intangible assets 12,477,958.33 25,461,786.16 -50.99%
investing real estate items due to leasing of land.
The newly-added export invoice financing
Short-term borrowings 225,016,800.00 31,427,500.00 615.99%
borrowings
Transactional financial No assessed loss on the undelivered forward
0.00 363,255.25 -100.00%
liabilities exchange contracts
Taxes and fares payable -12,310,139.45 -23,837,739.85 -48.36% Arrival of the export tax rebates
The Company secured borrowings from the
Other payables 224,711,306.23 53,435,685.41 320.53%
controlling shareholder.
Deferred income tax Gain on the undelivered forward exchange
2,370,771.25 44,686.69 5205.32%
liabilities contracts
Increase/dec
Item Jan.-Sept. 2013 Jan.-Sept. 2012 Main reason for the change
rease (%)
RMB appreciation presented an unfavorable
Financial expenses 4,528,411.70 (16,805,582.57) -126.95%
factor for exchange.
Gains on fair value Assessed gain on the undelivered forward
15,628,971.85 (3,702,851.71) 522.08%
changes exchange contracts
The newly-added gains on wealth management
Investment gains 8,157,579.03 6,175,182.09 32.10%
products
Non-operating expenses 1,101,033.90 1,971,105.05 -44.14% A smaller amount on the disposal of fixed assets
Income tax expenses 7,399,199.63 66,484.86 11029.15% The deferred income tax assets were reversed.
The gross profit rate increased and the
Net profit 36,105,283.05 (1,678,953.01) 2250.46%
administrative and selling expense decreased.
Net cash flows from
(191,851,701.86) (63,960,635.77) -199.95% Some wealth management products were bought.
investing activities
Net cash flows from
324,944,862.27 499,050,368.67 -34.89% The export financing borrowings were repaid.
financing activities
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Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
II. Progress and influence of significant events, as well as the analysis and explanation on
solutions
The controlled subsidiary Tsann Kuen (Zhangzhou) Enterprise Co., Ltd. (“Tsann Kuen Zhangzhou”, with the Company holding a
stake of 75%) submitted the Civil Appeal to Zhangzhou Intermediate People’s Court on 18 Sept. 2013 against the (2012) ZMCZ No.
8 Civil Verdict of Zhangzhou Intermediate People’s Court. Currently, it is waiting for the acceptance by the court.
Index to the relevant announcement
Overview of the significant event Date of disclosure
disclosed on the website
Lawsuit Progress Announcement
Concerning the Controlled Subsidiary 6 Sept. 2013 http://www.cninfo.com.cn/
Tsann Kuen Zhangzhou
III. Commitments made by the Company or shareholders holding over 5% of the Company’s
shares in the reporting period or such commitments carried down into the reporting period
Time of Period of
Commitmen
Commitment Contents making commitme Fulfillment
t maker
commitment nt
Commitments made in a share
reform
Commitments made in an
acquisition report or a report on
equity changes
Commitments made in asset
reorganization
Commitments made in the first
public offering or refinancing.
Based on the confidence on the
continuous and stable development of
the Company, it committed to increase The Company’s
the shareholding if the Company’s stocks resumed
stock price was lower than HKD2.40 trading on 31 Dec.
per share after the implementation of 2012, but the
the shares contraction and trading Within Company’s stock
resumption, and it would increase no one year price hasn’t met the
FILLMAN more than 2% shares (i.e. 370,780,000 since the condition for
Other commitments made to INVESTME shares) of the total shares issued by 28 Nov. date of shareholding
minority shareholders NTS the Company within one year since 2012 initial increase since the
LIMITED the date of initial shareholding shareholdi date of trading
increase. If the plan on increasing ng resumption,
holding 2% shares of the total shares increase FILLMAN
is completed, if the stock price hasn’t Investment Limited
reached the target price, it will hasn’t implemented
perform relevant approval procedures, the shareholding
and propose to CSRC on continuous increase plan.
implementation of shareholding
increase by exemption of offering.
Executed in time or not? Yes
Detailed reason for failing to The Company’s stock price hasn’t met the condition for shareholding increase. When the
execute and the plan for the next Company’s stock price is lower than HKD2.40 per share, Fillman Investment Limited will
step (If any) increase its shareholding in the Company.
8
Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
IV. Predict the 2013 annual operating results
Warnings of possible loss or large-margin change of the accumulated net profit made during the period from the
beginning of the year to the end of the next reporting period compared with the same period of the last year
according to prediction, as well as explanations on the reasons
√Applicable □Inapplicable
Prediction: significant increase in the same direction
Type of the predicted data: Interval data
Item Jan.-Dec. 2013 Jan.-Dec. 2012 Increase/decrease (%)
Estimated accumulative net profit
3,500-5,000 2,146 63%-133%
(RMB Ten thousand)
Basic EPS (RMB Yuan/share) 0.19-0.27 0.12 58%-125%
Because the Company strictly controls the procurement cost, enhances the internal
operation management and optimizes the production and sale processes, the overall
Explanation about the predictions
gross profit rate and the administrative & selling expenses will both improve over the
same period of last year.
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Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
V. Securities investment
□Applicable √Inapplicable
VI. Investments in derivatives
Unit: (RMB) Ten thousand
Proportion of the Actual
Related-pa
Type of Initial Opening Impairmen Closing closing investment gain/loss
rty Beginning
Operator Relation derivative investment Ending date investment t provision investment amount in the in
transaction date
investment amount amount (if any) amount Company’s closing reporting
or not
net assets (%) period
Suzhou branch of First Sino Forward
N/A No 3,144.00 2013-10-8 2013-10-31 3,144.00 3,144.00 6.22% 91.85
Bank exchange
Zhangzhou branch of China Forward
N/A No 629.20 2013-10-15 2013-10-31 629.20 629.20 1.24% 18.95
Construction Bank exchange
Suzhou branch of First Sino Forward
N/A No 628.91 2013-10-17 2013-10-31 628.91 628.91 1.24% 16.20
Bank exchange
Zhangzhou branch of China Forward
N/A No 314.36 2013-10-21 2013-10-31 314.36 314.36 0.62% 8.79
Construction Bank exchange
Suzhou branch of First Sino Forward
N/A No 322.61 2013-10-21 2013-10-25 0.00 322.61 0.64% 9.06
Bank exchange
Zhangzhou branch of China Forward
N/A No 1,571.15 2013-10-25 2013-11-25 0.00 1,571.15 3.11% 37.55
Construction Bank exchange
Suzhou branch of First Sino Forward
N/A No 3,145.55 2013-11-8 2013-12-10 3,145.55 3,145.55 6.22% 105.50
Bank exchange
Zhangzhou branch of China Forward
N/A No 314.36 2013-11-21 2013-11-30 314.36 314.36 0.62% 8.34
Construction Bank exchange
Zhangzhou branch of China Forward
N/A No 1,571.15 2013-11-25 2013-12-25 0.00 1,571.15 3.11% 35.28
Construction Bank exchange
Suzhou branch of First Sino Forward
N/A No 1,242.28 2013-11-25 2013-11-29 0.00 1,242.28 2.46% 15.16
Bank exchange
Suzhou branch of First Sino Forward
N/A No 3,144.00 2013-12-2 2013-12-20 3,144.00 3,144.00 6.22% 93.60
Bank exchange
Suzhou branch of First Sino Forward
N/A No 3,139.15 2013-12-2 2013-12-31 0.00 3,139.15 6.21% 68.50
Bank exchange
Zhangzhou branch of China Forward
N/A No 1,848.36 2013-12-17 2013-12-31 0.00 1,848.36 3.65% 21.96
Construction Bank exchange
Zhangzhou branch of China Forward
N/A No 1,233.96 2013-12-24 2013-12-31 0.00 1,233.96 2.44% 17.60
Construction Bank exchange
Zhangzhou branch of
Forward
Industrial and Commercial N/A No 3,119.20 2014-1-6 2014-1-29 0.00 3,119.20 6.17% 63.10
exchange
Bank of China
10
Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
Suzhou branch of First Sino Forward
N/A No 3,141.05 2014-1-21 2014-1-29 0.00 3,141.05 6.21% 74.35
Bank exchange
Huli sub-branch of China Forward
N/A No 3,119.20 2014-1-27 2014-4-28 0.00 3,119.20 6.17% 50.00
Construction Bank exchange
Suzhou branch of First Sino Forward
N/A No 3,120.75 2014-2-10 2014-2-24 0.00 3,120.75 6.17% 37.50
Bank exchange
Suzhou branch of First Sino Forward
N/A No 3,137.25 2014-2-24 2014-2-28 0.00 3,137.25 6.20% 70.75
Bank exchange
Suzhou branch of First Sino Forward
N/A No 3,137.05 2014-3-13 2014-3-20 0.00 3,137.05 6.20% 68.10
Bank exchange
Huli sub-branch of China Forward
N/A No 3,135.75 2014-3-24 2014-3-28 0.00 3,135.75 6.20% 79.00
Construction Bank exchange
Suzhou branch of First Sino Forward
N/A No 3,133.70 2014-3-25 2014-4-3 0.00 3,133.70 6.20% 63.00
Bank exchange
Huli sub-branch of China Forward
N/A No 3,120.80 2014-4-15 2014-4-22 0.00 3,120.80 6.17% 52.25
Construction Bank exchange
Suzhou branch of First Sino Forward
N/A No 3,107.60 2014-4-30 2014-5-7 0.00 3,107.60 6.14% 24.80
Bank exchange
Huli sub-branch of China Forward
N/A No 3,096.25 2014-5-9 2014-5-13 0.00 3,096.25 6.12% 31.25
Construction Bank exchange
Zhangzhou branch of Bank of Forward
N/A No 3,083.35 2014-5-22 2014-6-23 0.00 3,083.35 6.10% 28.45
China exchange
Huli sub-branch of China Forward
N/A No 1,848.36 2014-6-6 2014-6-6 0.00 1,848.36 3.65% 27.90
Construction Bank exchange
Huli sub-branch of China Forward
N/A No 3,087.85 2014-6-9 2014-6-9 0.00 3,087.85 6.11% 38.00
Construction Bank exchange
Zhangzhou branch of Bank of Forward
N/A No 2,466.68 2014-6-23 2014-7-23 0.00 2,466.68 4.88% 25.12
China exchange
Zhangzhou branch of China Forward
N/A No 1,850.94 2014-6-24 2014-6-24 0.00 1,850.94 3.66% 36.12
Construction Bank exchange
Huli sub-branch of China Forward
N/A No 1,849.56 2014-7-9 2014-7-14 0.00 1,849.56 3.66% 23.85
Construction Bank exchange
Huli sub-branch of China Forward
N/A No 1,234.60 2014-7-11 2014-7-11 0.00 1,234.60 2.44% 15.90
Construction Bank exchange
Huli sub-branch of China Forward
N/A No 1,851.60 2014-7-18 2014-7-25 0.00 1,851.60 3.66% 20.55
Construction Bank exchange
Zhangzhou branch of Bank of Forward
N/A No 1,234.40 2014-7-21 2014-7-31 0.00 1,234.40 2.44% 22.80
China exchange
Zhangzhou branch of Bank of Forward
N/A No 3,085.25 2014-8-5 2014-9-5 0.00 3,085.25 6.10% 43.00
China exchange
Zhangzhou branch of Bank of Forward
N/A No 3,084.85 2014-8-22 2014-9-25 0.00 3,084.85 6.10% 40.50
China exchange
Huli sub-branch of China Forward
N/A No 3,073.75 2014-8-25 2014-9-25 0.00 3,073.75 6.08% 1.95
Construction Bank exchange
Zhangzhou branch of Bank of Forward
N/A No 3,085.90 2014-9-5 2014-10-5 0.00 3,085.90 6.10% 28.50
China exchange
11
Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
Huli sub-branch of China Forward
N/A No 3,080.60 2014-9-9 2014-9-12 0.00 3,080.60 6.09% 7.50
Construction Bank exchange
Huli sub-branch of China Forward
N/A No 3,077.70 2014-9-9 2014-9-18 0.00 3,077.70 6.09% 4.00
Construction Bank exchange
Total of undelivered 93,613.03 11,320.38 93,613.03 185.11% 1,526.58
Suzhou branch of First Sino Forward
N/A No 1,264.72 2013-1-2 2013-1-29 1,264.72 0.00 0.00% 14.60
Bank exchange
Suzhou branch of First Sino Forward
N/A No 1,897.08 2013-1-2 2013-1-30 1,897.08 0.00 0.00% 23.25
Bank exchange
Zhangzhou branch of China Forward
N/A No 629.20 2013-1-15 2013-1-28 629.20 0.00 0.00% 3.26
Construction Bank exchange
Suzhou branch of First Sino Forward
N/A No 628.91 2013-1-17 2013-1-29 628.91 0.00 0.00% 2.85
Bank exchange
Zhangzhou branch of China Forward
N/A No 628.71 2013-1-21 2013-1-28 628.71 0.00 0.00% 1.89
Construction Bank exchange
Suzhou branch of First Sino Forward
N/A No 356.18 2013-1-31 2013-1-31 0.00 0.00 0.00% 11.71
Bank exchange
Suzhou branch of First Sino Forward
N/A No 628.91 2013-2-14 2013-2-21 628.91 0.00 0.00% 2.90
Bank exchange
Zhangzhou branch of China Forward
N/A No 629.20 2013-2-15 2013-2-25 629.20 0.00 0.00% 2.52
Construction Bank exchange
Suzhou branch of First Sino Forward
N/A No 356.18 2013-2-19 2013-2-20 0.00 0.00 0.00% 21.15
Bank exchange
Suzhou branch of First Sino Forward
N/A No 1,256.28 2013-2-22 2013-2-22 0.00 0.00 0.00% -9.78
Bank exchange
Suzhou branch of First Sino Forward
N/A No 1,256.28 2013-2-22 2013-2-25 0.00 0.00 0.00% -10.20
Bank exchange
Suzhou branch of First Sino Forward
N/A No 628.14 2013-2-22 2013-2-26 0.00 0.00 0.00% -4.74
Bank exchange
Suzhou branch of First Sino Forward
N/A No 1,260.04 2013-3-1 2013-3-8 1,260.04 0.00 0.00% 6.62
Bank exchange
Suzhou branch of First Sino Forward
N/A No 363.17 2013-3-1 2013-3-21 363.17 0.00 0.00% 36.12
Bank exchange
Suzhou branch of First Sino Forward
N/A No 1,261.34 2013-3-8 2013-3-15 1,261.34 0.00 0.00% 7.54
Bank exchange
Zhangzhou branch of China Forward
N/A No 629.20 2013-3-15 2013-3-20 629.20 0.00 0.00% 4.28
Construction Bank exchange
Suzhou branch of First Sino Forward
N/A No 628.91 2013-3-15 2013-3-20 628.91 0.00 0.00% 4.20
Bank exchange
Zhangzhou branch of China Forward
N/A No 3,142.30 2013-3-25 2013-3-25 0.00 0.00 0.00% 2.95
Construction Bank exchange
Suzhou branch of First Sino Forward
N/A No 358.51 2013-3-25 2013-3-28 0.00 0.00 0.00% 25.92
Bank exchange
Zhangzhou branch of China Forward
N/A No 629.20 2013-4-15 2013-4-19 629.20 0.00 0.00% 7.49
Construction Bank exchange
Suzhou branch of First Sino N/A No Forward 628.91 2013-4-16 2013-4-19 628.91 0.00 0.00% 7.41
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Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
Bank exchange
Suzhou branch of First Sino Forward
N/A No 942.21 2013-4-22 2013-4-24 0.00 0.00 0.00% 2.56
Bank exchange
Suzhou branch of First Sino Forward
N/A No 942.21 2013-4-22 2013-4-25 0.00 0.00 0.00% 3.83
Bank exchange
Suzhou branch of First Sino Forward
N/A No 348.36 2013-4-22 2013-4-22 0.00 0.00 0.00% 36.11
Bank exchange
Suzhou branch of First Sino Forward
N/A No 1,260.24 2013-5-9 2013-5-9 1,260.24 0.00 0.00% 26.70
Bank exchange
Zhangzhou branch of China Forward
N/A No 629.20 2013-5-15 2013-5-17 629.20 0.00 0.00% 11.47
Construction Bank exchange
Suzhou branch of First Sino Forward
N/A No 628.91 2013-5-17 2013-5-21 628.91 0.00 0.00% 12.25
Bank exchange
Suzhou branch of First Sino Forward
N/A No 338.80 2013-5-27 2013-5-29 0.00 0.00 0.00% 32.06
Bank exchange
Suzhou branch of First Sino Forward
N/A No 634.30 2013-5-28 2013-5-30 634.30 0.00 0.00% 23.30
Bank exchange
Suzhou branch of First Sino Forward
N/A No 628.91 2013-6-14 2013-6-14 628.91 0.00 0.00% 15.29
Bank exchange
Zhangzhou branch of China Forward
N/A No 629.20 2013-6-17 2013-6-17 629.20 0.00 0.00% 15.46
Construction Bank exchange
Suzhou branch of First Sino Forward
N/A No 1,262.12 2013-6-17 2013-7-2 1,262.12 0.00 0.00% 41.38
Bank exchange
Suzhou branch of First Sino Forward
N/A No 332.43 2013-6-17 2013-6-19 0.00 0.00 0.00% 5.72
Bank exchange
Suzhou branch of First Sino Forward
N/A No 1,254.54 2013-7-8 2013-7-9 0.00 0.00 0.00% 14.20
Bank exchange
Suzhou branch of First Sino Forward
N/A No 1,881.81 2013-7-8 2013-7-10 0.00 0.00 0.00% 23.64
Bank exchange
Zhangzhou branch of China Forward
N/A No 629.20 2013-7-15 2013-7-24 629.20 0.00 0.00% 14.49
Construction Bank exchange
Suzhou branch of First Sino Forward
N/A No 628.91 2013-7-17 2013-7-26 628.91 0.00 0.00% 14.16
Bank exchange
Suzhou branch of First Sino Forward
N/A No 309.68 2013-7-22 2013-7-22 0.00 0.00 0.00% 1.27
Bank exchange
Suzhou branch of First Sino Forward
N/A No 307.47 2013-7-22 2013-7-22 0.00 0.00 0.00% 1.90
Bank exchange
Suzhou branch of First Sino Forward
N/A No 617.96 2013-7-24 2013-7-29 0.00 0.00 0.00% -1.40
Bank exchange
Suzhou branch of First Sino Forward
N/A No 617.96 2013-7-24 2013-7-30 0.00 0.00 0.00% -2.05
Bank exchange
Suzhou branch of First Sino Forward
N/A No 617.96 2013-7-24 2013-7-31 0.00 0.00 0.00% -2.23
Bank exchange
Zhangzhou branch of China Forward
N/A No 629.20 2013-8-15 2013-8-15 629.20 0.00 0.00% 14.48
Construction Bank exchange
Suzhou branch of First Sino N/A No Forward 628.91 2013-8-16 2013-8-16 628.91 0.00 0.00% 14.70
13
Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
Bank exchange
Suzhou branch of First Sino Forward
N/A No 3,140.90 2013-8-19 2013-8-19 0.00 0.00 0.00% 55.00
Bank exchange
Suzhou branch of First Sino Forward
N/A No 189.74 2013-8-19 2013-8-19 0.00 0.00 0.00% 1.81
Bank exchange
Huli sub-branch of China Forward
N/A No 1,853.88 2013-8-23 2013-8-26 0.00 0.00 0.00% 1.20
Construction Bank exchange
Suzhou branch of First Sino Forward
N/A No 304.99 2013-8-26 2013-8-26 0.00 0.00 0.00% -4.82
Bank exchange
Suzhou branch of First Sino Forward
N/A No 304.91 2013-8-26 2013-8-27 0.00 0.00 0.00% -8.68
Bank exchange
Zhangzhou branch of Bank of Forward
N/A No 1,862.16 2013-9-9 2013-9-9 0.00 0.00 0.00% 5.58
China exchange
Suzhou branch of First Sino Forward
N/A No 628.91 2013-9-13 2013-9-13 628.91 0.00 0.00% 15.58
Bank exchange
Zhangzhou branch of China Forward
N/A No 629.20 2013-9-16 2013-9-16 629.20 0.00 0.00% 15.90
Construction Bank exchange
Zhangzhou branch of
Forward
Industrial and Commercial N/A No 1,887.39 2013-9-16 2013-9-18 1,887.39 0.00 0.00% 52.59
exchange
Bank of China
Zhangzhou branch of
Forward
Industrial and Commercial N/A No 1,258.26 2013-9-16 2013-9-23 1,258.26 0.00 0.00% 36.70
exchange
Bank of China
Zhangzhou branch of China Forward
N/A No 6,169.80 2013-9-20 2013-9-23 0.00 0.00 0.00% 39.50
Construction Bank exchange
Suzhou branch of First Sino Forward
N/A No 316.23 2013-9-24 2013-9-27 0.00 0.00 0.00% 0.05
Bank exchange
Total of delivered 54,308.23 24,300.36 0.00 0.00% 691.64
Total 147,921.26 35,620.74 93,613.03 185.11% 2,218.22
Capital source for derivative investment Self-owned funds
Litigation cases situation(if any) N/A
Disclosure date of the board announcement approving the wealth
12 Mar. 2013
management entrustment (if any)
Disclosure date of the general meeting announcement approving the wealth
18 May 2013
management entrustment (if any)
14
Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
1. Analysis on risks from holding of derivative products: gains or losses from difference between contracted exchange rate
and market exchange rate on value date.
2. Control measures:
(1) Principle: The purpose of the financial derivative operation is to avoid risks. The Company shall not conduct transactional
operation for other purposes than risk avoidance. The Company shall not conduct complex derivative trading above the actual
operation needs and shall not speculate in derivative trading with hedging as an excuse. The overall contractual amount for
risk avoidance of the Company shall not exceed the summation of the net risk exposure of the existing assets and liabilities
and the net risk exposure of assets and liabilities arising from the operation of the Company in the coming year.
(2) Staff requirements: Personnel taking part in the investment shall all fully understand the risks of derivative investment
Analysis on risks and control measures of derivative products held in the and strictly execute the business operation and risk management mechanisms for derivative investment.
reporting period (including but not limited to market risk, liquidity risk, (3) Operation standardization: Before making a derivative investment, the Company shall rationally equip itself with
credit risk, operation risk, law risk, etc.) professional personnel for investment decision-making, business operation, risk control, etc. It shall also inquire and compare
among various markets and products. Besides, it shall strictly control the variety and size of derivative investment and try to
choose derivative trading on exchange as much as possible.
(4) Periodic evaluation: Derivative investments shall be evaluated at least twice for a month and the evaluation report shall be
sent to a high-ranking executive authorized by the Board of Directors. And a derivative investment report shall be sent to the
Board of Directors annually.
(5) Loss limit: The investment loss on a single derivative and all the investment loss shall not exceed 20% of the total
investment amount.
(6) Audit system: The audit department audits derivative product trading periodically and submits audit reports to relevant
units.
(1) Gains and losses effected by completed transaction amount of derivative products was RMB 6.9164 million, and gain
from undelivered transaction was RMB 15.6290 million in the reporting period, of which the amount of the reserved losses of
Changes of market prices or fair values in the reporting period of the
the undelivered forwards assessment of the investment derivatives of last year was RMB 0.3632 million.
invested derivatives. And the analysis on the fair value of the derivatives
(2) The former contracted bank provided monthly sheets of estimated exchange rates for the undue contracted forward
should include the specific use methods and the relevant assumptions and
exchanges on the last trading day of the month.
parameters.
(3) The profit and loss from fair value changes of the derivative was confirmed according to the difference between the
contracted amount undue by the month*the estimated exchange rate and the currency amount when bought in.
Whether significant changes occurred to the Company’s accounting policy
There were no significant changes between the Company’s accounting policy and specific accounting principles of
and specific accounting principles of derivatives in the reporting period
derivatives in the reporting period and those in the last reporting period.
compared to the previous reporting period
The Company has carried out a strict internal assessment for the financial derivative business and has established a
Special opinion from independent directors, sponsor or financial consultant corresponding supervision mechanism. We are of the opinion that the financial derivative business conducted by the
on the Company’s derivatives investment and risk control Company is fairly necessary in its routine operation and is in compliance with relevant laws and regulations, with the risks
controllable.
VII. Researches, visits and interviews received in the reporting period
Main discussion and materials provided
Time of reception Place of reception Way of reception Visitor type Visitor
by the Company
Operating situation of the Company,
The office of the Telephone
30 Sep. 2013 Individual Mr. Liu relevant policies of B shares; had not
Company Communication
offer any written sources.
15
Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
Section IV. Financial Statements
1. Consolidated balance sheet
Prepared by Tsann Kuen (China) Enterprise Co., Ltd.
Unit: RMB Yuan
Item Closing balance Opening balance
Current Assets:
Monetary funds 910,021,856.42 759,361,575.52
Settlement reserves
Intra-group lendings
Transactional financial assets 15,265,716.60 0.00
Notes receivable 2,114,690.00 3,356,956.00
Accounts receivable 345,806,336.21 302,133,025.05
Accounts paid in advance 4,973,933.71 3,348,515.58
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract reserves
Interest receivable 5,271,434.74 5,231,397.36
Dividend receivable 0.00 0.00
Other accounts receivable 13,793,156.32 41,516,107.15
Financial assets purchased under agreements to resell
Inventories 209,841,573.46 242,578,891.54
Non-current assets due within 1 year 286,816.12 2,434,759.94
Other current assets 170,000,000.00 0.00
Total current assets 1,677,375,513.58 1,359,961,228.14
Non-current assets:
Loans by mandate and advances granted
Available-for-sale financial assets 0.00 0.00
Held-to-maturity investments 0.00 0.00
Long-term accounts receivable 74,219.76 3,370,946.33
Long-term equity investment 40,000.00 40,000.00
Investing property 61,460,935.07 39,319,457.87
Fixed assets 183,030,232.20 219,374,057.54
Construction in progress 8,782,736.47 7,094,433.42
Engineering materials 0.00 0.00
Disposal of fixed assets 0.00 0.00
Production biological assets
Oil-gas assets
Intangible assets 12,477,958.33 25,461,786.16
R&D expense 0.00 0.00
Goodwill 0.00 0.00
Long-term deferred expenses 4,942,388.63 6,152,543.07
Deferred income tax assets 18,635,075.30 19,073,385.65
Other non-current assets
Total of non-current assets 289,443,545.76 319,886,610.04
Total assets 1,966,819,059.34 1,679,847,838.18
16
Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
Item Closing balance Opening balance
Current liabilities:
Short-term borrowings 225,016,800.00 31,427,500.00
Borrowings from Central Bank
Customer bank deposits and due to banks and other
financial institutions
Intra-group borrowings
Transactional financial liabilities 0.00 363,255.25
Notes payable 76,056,684.70 70,851,519.07
Accounts payable 537,686,215.73 647,831,038.73
Accounts received in advance 15,896,452.47 12,488,450.33
Financial assets sold for repurchase
Handling charges and commissions payable
Employee’s compensation payable 38,563,537.05 40,116,618.69
Tax payable -12,310,139.45 -23,837,739.85
Interest payable 0.00 6,324.78
Dividend payable 0.00 0.00
Other accounts payable 224,711,306.23 53,435,685.41
Reinsurance premiums payable
Insurance contract reserves
Payables for acting trading of securities
Payables for acting underwriting of securities
Non-current liabilities due within 1 year
Other current liabilities
Total current liabilities 1,105,620,856.73 832,682,652.41
Non-current liabilities:
Long-term borrowings
Bonds payable
Long-term payables
Specific payables
Estimated liabilities 13,776.01 11,401.92
Deferred income tax liabilities 2,370,771.25 44,686.69
Other non-current liabilities 222,600.00 222,600.00
Total non-current liabilities 2,607,147.26 278,688.61
Total liabilities 1,108,228,003.99 832,961,341.02
Owners’ equity (or shareholders’ equity)
Paid-up capital (or share capital) 185,391,680.00 185,391,680.00
Capital reserves 278,454,447.07 278,454,447.07
Less: Treasury stock
Specific reserves
Surplus reserves 6,120,201.82 6,120,201.82
Provisions for general risks
Retained profits 35,058,094.64 20,797,991.70
Foreign exchange difference 741,408.45 -2,715,037.68
Total equity attributable to owners of the Company 505,765,831.98 488,049,282.91
Minority interests 352,825,223.37 358,837,214.25
Total owners’ (or shareholders’) equity 858,591,055.35 846,886,497.16
Total liabilities and owners’ (or shareholders’) equity 1,966,819,059.34 1,679,847,838.18
Legal representative: Jian Derong Person-in-charge of the accounting work: Chen Zongyi Chief of the accounting division: Chen Zongyi
17
Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
2. Balance sheet of the Company
Prepared by Tsann Kuen (China) Enterprise Co., Ltd.
Unit: RMB Yuan
Item Closing balance Opening balance
Current Assets:
Monetary funds 5,738,509.09 17,652,594.45
Transactional financial assets
Notes receivable 490,820.00 1,257,500.00
Accounts receivable 31,792,023.19 4,172,243.78
Accounts paid in advance 224,750.84 96,047.65
Interest receivable
Dividend receivable
Other accounts receivable 1,545,679.54 236,719.46
Inventories 4,561,227.20 7,392,344.32
Non-current assets due within 1 year
Other current assets
Total current assets 44,353,009.86 30,807,449.66
Non-current assets:
Available-for-sale financial assets
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 990,854,030.83 990,854,030.83
Investing property 49,517,170.98 31,212,851.79
Fixed assets 1,448,201.53 11,211,651.90
Construction in progress 57,200.00 58,500.00
Engineering materials 0.00
Disposal of fixed assets 0.00
Production biological assets
Oil-gas assets
Intangible assets 422,795.41 13,758,144.40
R&D expense 0.00
Goodwill 0.00
Long-term deferred expenses 1,130,520.47 1,216,744.00
Deferred income tax assets 0.00
Other non-current assets 0.00
Total of non-current assets 1,043,429,919.22 1,048,311,922.92
Total assets 1,087,782,929.08 1,079,119,372.58
18
Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
Item Closing balance Opening balance
Current liabilities:
Short-term borrowings
Transactional financial liabilities
Notes payable
Accounts payable 69,830,359.66 17,907,562.95
Accounts received in advance 4,181,665.16 115,424.99
Employee’s compensation payable 532,175.76 522,592.57
Tax payable 1,065,967.33 1,124,273.49
Interest payable
Dividend payable
Other accounts payable 502,480,680.70 580,459,985.94
Non-current liabilities due within 1 year
Other current liabilities
Total current liabilities 578,090,848.61 600,129,839.94
Non-current liabilities:
Long-term borrowings
Bonds payable
Long-term payables
Specific payables
Estimated liabilities
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities
Total liabilities 578,090,848.61 600,129,839.94
Owners’ equity (or shareholders’ equity)
Paid-up capital (or share capital) 185,391,680.00 185,391,680.00
Capital reserves 271,485,181.40 271,485,181.40
Less: Treasury stock
Specific reserves
Surplus reserves 6,120,201.82 6,120,201.82
Provisions for general risks
Retained profits 46,695,017.25 15,992,469.42
Foreign exchange difference
Total owners’ (or shareholders’) equity 509,692,080.47 478,989,532.64
Total liabilities and owners’ (or shareholders’) equity 1,087,782,929.08 1,079,119,372.58
Legal representative: Jian Derong Person-in-charge of the accounting work: Chen Zongyi Chief of the accounting division: Chen Zongyi
19
Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
3. Consolidated income statement for the reporting period
Prepared by Tsann Kuen (China) Enterprise Co., Ltd.
Unit: RMB Yuan
Item Jul.-Sept. 2013 Jul.-Sept. 2012
I. Total operating revenues 583,904,520.84 629,800,712.74
Including: Sales income 583,904,520.84 629,800,712.74
II. Total operating cost 567,928,499.28 613,373,491.13
Including: Cost of sales 500,908,030.67 539,431,442.50
Taxes and associate charges 1,488,948.41 1,949,158.82
Selling and distribution expenses 19,879,125.53 26,522,203.79
Administrative expenses 37,111,897.89 43,332,573.08
Financial expenses 658,864.99 -4,953,990.75
Asset impairment loss 7,881,631.79 7,092,103.69
Add: Gain/(loss) from change in fair value (“-”
means loss) 8,279,752.55 3,492,791.37
Gain/(loss) from investment (“-” means loss) 4,581,233.73 1,056,638.35
III. Business profit (“-” means loss) 28,837,007.84 20,976,651.33
Add: non-operating income 2,423,582.71 3,666,231.69
Less: non-operating expense 274,598.78 520,653.62
Including: loss from non-current asset disposal 4,582.82 209,284.67
IV. Total profit (“-” means loss) 30,985,991.77 24,122,229.40
Less: Income tax expense 6,259,756.81 -92,216.51
V. Net profit (“-” means loss) 24,726,234.96 24,214,445.91
Attributable to owners of the Company 19,592,714.88 17,159,026.27
Minority shareholders’ income 5,133,520.08 7,055,419.64
VI. Earnings per share -- --
(I) Basic earnings per share 0.11 0.09
(II) Diluted earnings per share 0.11 0.09
Ⅶ. Other comprehensive incomes 820,625.65 -878,812.32
Ⅷ. Total comprehensive incomes 25,546,860.61 23,335,633.59
Attributable to owners of the Company 20,413,340.53 16,280,213.95
Attributable to minority shareholders 5,133,520.08 7,055,419.64
Legal representative: Jian Derong Person-in-charge of the accounting work: Chen Zongyi Chief of the accounting division: Chen Zongyi
20
Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
4. Income statement of the Company for the reporting period
Prepared by Tsann Kuen (China) Enterprise Co., Ltd.
Unit: RMB Yuan
Item Jul.-Sept. 2013 Jul.-Sept. 2012
I. Total sales 40,524,927.07 -364,291.03
Less: cost of sales 33,099,529.79 858,905.84
Business taxes and surcharges 312,085.42 192,180.08
Distribution expenses 943,995.42
Administrative expenses 1,974,957.97 2,021,438.55
Financial costs -39,655.11 -14,973.82
Impairment loss 295,432.27 -282.47
Gain/(loss) from investment (“-” means loss) 35,736,850.78 20,145,065.39
II. Business profit (“-” means loss) 39,675,432.09 16,723,506.18
Add: non-business income 185,855.03 319,209.67
Less: non-business expense -267.92 179,413.79
III. Total profit (“-” means loss) 39,861,555.04 16,863,302.06
IV. Net profit (“-” means loss) 39,861,555.04 16,863,302.06
V. Earnings per share -- --
(I) Basic earnings per share 0.22 0.09
(II) Diluted earnings per share 0.22 0.09
VI. Total comprehensive income 39,861,555.04 16,863,302.06
Legal representative: Jian Derong Person-in-charge of the accounting work: Chen Zongyi Chief of the accounting division: Chen Zongyi
21
Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
5. Consolidated income statement for Jan.-Sept. 2013
Prepared by Tsann Kuen (China) Enterprise Co., Ltd.
Unit: RMB Yuan
Item Jan.-Sept. 2013 Jan.-Sept. 2012
I. Total operating revenues 1,461,748,728.64 1,698,884,201.23
Including: Sales income 1,461,748,728.64 1,698,884,201.23
Interest income
Premium income
Handling charge and commission income
II. Total operating cost 1,448,063,018.66 1,707,375,701.72
Including: Cost of sales 1,263,570,802.30 1,496,505,664.54
Interest expenses
Handling charge and commission expenses
Surrenders
Net claims paid
Net amount withdrawn for the insurance contract reserve
Expenditure on policy dividends
Reinsurance premium
Taxes and associate charges 3,167,114.06 3,895,358.22
Selling and distribution expenses 54,172,998.07 77,451,210.22
Administrative expenses 111,961,724.25 134,845,443.71
Financial expenses 4,528,411.70 -16,805,582.57
Asset impairment loss 10,661,968.28 11,483,607.60
Add: Gain/(loss) from change in fair value (“-” means loss) 15,628,971.85 -3,702,851.71
Gain/(loss) from investment (“-” means loss) 8,157,579.03 6,175,182.09
Including: share of profits in associates and joint ventures
Foreign exchange gains (“-” means loss)
III. Business profit (“-” means loss) 37,472,260.86 -6,019,170.11
Add: non-operating income 7,133,255.72 6,377,807.01
Less: non-operating expense 1,101,033.90 1,971,105.05
Including: loss from non-current asset disposal 155,231.64 210,409.89
IV. Total profit (“-” means loss) 43,504,482.68 -1,612,468.15
Less: Income tax expense 7,399,199.63 66,484.86
V. Net profit (“-” means loss) 36,105,283.05 -1,678,953.01
Including: Net profit achieved by combined parties before the
-4,512,158.51
combinations
Attributable to owners of the Company 30,018,395.73 -2,219,824.49
Minority shareholders’ income 6,086,887.32 540,871.48
VI. Earnings per share -- --
(I) Basic earnings per share 0.16 -0.01
(II) Diluted earnings per share 0.16 -0.01
Ⅶ. Other comprehensive incomes 3,456,446.14 471,170.84
Ⅷ. Total comprehensive incomes 39,561,729.19 -1,207,782.17
Attributable to owners of the Company 33,474,841.87 -1,748,653.65
Attributable to minority shareholders 6,086,887.32 540,871.48
Legal representative: Jian Derong Person-in-charge of the accounting work: Chen Zongyi Chief of the accounting division: Chen Zongyi
22
Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
6. Income statement of the Company for Jan.-Sept. 2013
Prepared by Tsann Kuen (China) Enterprise Co., Ltd.
Unit: RMB Yuan
Item Jan.-Sept. 2013 Jan.-Sept. 2012
I. Total sales 75,971,039.26 5,314,302.66
Less: cost of sales 58,279,580.95 3,434,553.59
Business taxes and surcharges 762,011.18 524,222.44
Distribution expenses 3,240,960.78
Administrative expenses 3,842,173.15 4,494,451.68
Financial costs -267,849.13 -34,626.99
Impairment loss 405,268.45 -895.56
Add: gain/(loss) from change in fair value (“-” means loss)
Gain/(loss) from investment (“-” means loss) 35,744,383.78 20,152,127.39
Including: income form investment on associates and joint
ventures
II. Business profit (“-” means loss) 45,453,277.66 17,048,724.89
Add: non-business income 1,007,562.97 632,875.05
Less: non-business expense 0.00 179,413.79
Including: loss from non-current asset disposal
III. Total profit (“-” means loss) 46,460,840.63 17,502,186.15
Less: income tax expense
IV. Net profit (“-” means loss) 46,460,840.63 17,502,186.15
V. Earnings per share -- --
(I) Basic earnings per share 0.25 0.09
(II) Diluted earnings per share 0.25 0.09
VI. Other comprehensive income
VII. Total comprehensive income 46,460,840.63 17,502,186.15
Legal representative: Jian Derong Person-in-charge of the accounting work: Chen Zongyi Chief of the accounting division: Chen Zongyi
23
Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
7. Consolidated cash flow statement for Jan.-Sept. 2013
Prepared by Tsann Kuen (China) Enterprise Co., Ltd.
Unit: RMB Yuan
Item Jan.-Sept. 2013 Jan.-Sept. 2012
I. Cash flows from operating activities:
Cash received from sale of commodities and rendering of service 1,380,758,155.33 1,784,557,577.32
Net increase of deposits from customers and dues from banks
Net increase of loans from the central bank
Net increase of funds borrowed from other financial institutions
Cash received from premium of original insurance contracts
Net cash received from reinsurance business
Net increase of deposits of policy holders and investment fund
Net increase of disposal of tradable financial assets
Cash received from interest, handling charges and commissions
Net increase of intra-group borrowings
Net increase of funds in repurchase business
Tax refunds received 190,910,296.78 210,094,465.01
Other cash received relating to operating activities 73,966,120.06 74,712,659.64
Subtotal of cash inflows from operating activities 1,645,634,572.17 2,069,364,701.97
Cash paid for goods and services 1,242,889,727.19 1,578,194,137.86
Net increase of customer lendings and advances
Net increase of funds deposited in the central bank and amount due
from banks
Cash for paying claims of the original insurance contracts
Cash for paying interest, handling charges and commissions
Cash for paying policy dividends
Cash paid to and for employees 178,791,444.00 192,348,048.44
Various taxes paid 23,474,710.15 15,252,920.69
Other cash payment relating to operating activities 169,906,347.42 250,759,274.47
Subtotal of cash outflows from operating activities 1,615,062,228.76 2,036,554,381.46
Net cash flows from operating activities 30,572,343.41 32,810,320.51
II. Cash flows from investing activities:
Cash received from withdrawal of investments 1,284,141.41 8,331,806.67
Cash received from return on investments 7,512,191.73 4,952,401.77
Net cash received from disposal of fixed assets, intangible assets and
7,562,195.16 6,012,653.29
other long-term assets
Net cash received from disposal of subsidiaries or other business units
Other cash received relating to investing activities 70,000,000.00
Subtotal of cash inflows from investing activities 86,358,528.30 19,296,861.73
Cash paid to acquire fixed assets, intangible assets and other long-term
38,210,230.16 43,457,877.50
assets
Cash paid for investment 39,799,620.00
24
Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
Item Jan.-Sept. 2013 Jan.-Sept. 2012
Net increase of pledged loans
Net cash paid to acquire subsidiaries and other business units
Other cash payments relating to investing activities 240,000,000.00 0.00
Subtotal of cash outflows from investing activities 278,210,230.16 83,257,497.50
Net cash flows from investing activities -191,851,701.86 -63,960,635.77
III. Cash Flows from Financing Activities:
Cash received from capital contributions
Including: Cash received from minority shareholder investments by
subsidiaries
Cash received from borrowings 523,133,116.00 697,772,894.44
Cash received from issuance of bonds
Other cash received relating to financing activities 145,163,058.59 249,638,774.10
Subtotal of cash inflows from financing activities 668,296,174.59 947,411,668.54
Repayment of borrowings 313,945,640.00 268,680,918.48
Cash paid for interest expenses and distribution of dividends or profit 29,405,672.32 9,353,220.19
Including: dividends or profit paid by subsidiaries to minority
shareholders
Other cash payments relating to financing activities 170,327,161.20
Sub-total of cash outflows from financing activities 343,351,312.32 448,361,299.87
Net cash flows from financing activities 324,944,862.27 499,050,368.67
IV. Effect of foreign exchange rate changes on cash and cash equivalents -13,005,222.92 1,638,876.66
V. Net increase in cash and cash equivalents 150,660,280.90 469,538,930.07
Add: Opening balance of cash and cash equivalents 759,361,575.52 706,132,122.10
VI. Closing balance of cash and cash equivalents 910,021,856.42 1,175,671,052.17
Legal representative: Jian Derong Person-in-charge of the accounting work: Chen Zongyi Chief of the accounting division: Chen Zongyi
25
Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
8. Cash flow statement of the Company for Jan.-Sept. 2013
Prepared by Tsann Kuen (China) Enterprise Co., Ltd.
Unit: RMB Yuan
Item Jan.-Sept. 2013 Jan.-Sept. 2012
I. Cash flows from operating activities:
Cash received from sale of commodities and rendering of service 47,864,119.34
Tax refunds received 1,119,631.01
Other cash received relating to operating activities 37,568,417.98 32,339,512.41
Subtotal of cash inflows from operating activities 86,552,168.33 32,339,512.41
Cash paid for goods and services 9,246,183.76
Cash paid to and for employees 22,860,822.49 23,034,287.99
Various taxes paid 4,650,129.67 2,100,587.17
Other cash payment relating to operating activities 82,461,039.84 33,230,676.43
Subtotal of cash outflows from operating activities 119,218,175.76 58,365,551.59
Net cash flows from operating activities -32,666,007.43 -26,026,039.18
II. Cash flows from investing activities:
Cash received from retraction of investments
Cash received from return on investments 35,744,383.78 20,152,127.39
Net cash received from disposal of fixed assets, intangible assets and other
797,450.00 180,000.00
long-term assets
Net cash received from disposal of subsidiaries or other business units
Other cash received relating to investing activities
Subtotal of cash inflows from investing activities 36,541,833.78 20,332,127.39
Cash paid to acquire fixed assets, intangible assets and other long-term assets 48,810.76 99,400.00
Cash paid for investment
Net cash paid to acquire subsidiaries and other business units
Other cash payments relating to investing activities
Subtotal of cash outflows from investing activities 48,810.76 99,400.00
Net cash flows from investing activities 36,493,023.02 20,232,727.39
III. Cash Flows from Financing Activities:
Cash received from capital contributions
Cash received from borrowings
Cash received from issuance of bonds
Other cash received relating to financing activities
Subtotal of cash inflows from financing activities
Repayment of borrowings
Cash paid for interest expenses and distribution of dividends or profit 15,703,640.96
Other cash payments relating to financing activities
Sub-total of cash outflows from financing activities 15,703,640.96 0.00
Net cash flows from financing activities -15,703,640.96 0.00
IV. Effect of foreign exchange rate changes on cash and cash equivalents -37,459.99 33,599.03
V. Net increase in cash and cash equivalents -11,914,085.36 -5,759,712.76
Add: Opening balance of cash and cash equivalents 17,652,594.45 13,757,429.84
VI. Closing balance of cash and cash equivalents 5,738,509.09 7,997,717.08
Legal representative: Jian Derong Person-in-charge of the accounting work: Chen Zongyi Chief of the accounting division: Chen Zongyi
26
Report for the Third Quarter of 2013 of Tsann Kuen (China) Enterprise Co., Ltd.
9. Audit report
This report is not audited.
Board of Directors of Tsann Kuen (China) Enterprise Co., Ltd.
Chairman of the Board: Jian Derong
25 Oct. 2013
27