Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
Tsann Kuen (China) Enterprise Co., Ltd.
Report for the First Quarter of 2021
April 2021
1
Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
Section I Important Statements
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.
All directors attended the board meeting for reviewing this Report.
Mr. Pan Zhirong, company principal, and Mr. Wu Jianhua, 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.
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 First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
Section II Company Profile
I Key financial results
Whether the Company performed any retroactive adjustments to or restatement of its accounting data
□ Yes √ No
Unit: RMB
Item January-March 2021 January-March 2020 +/-%
Operating revenues 564,283,057.89 311,268,019.82 81.29
Net profit attributable to shareholders of the Company 27,743,333.09 8,577,244.43 223.45
Net profit attributable to shareholders of the Company before
22,135,773.73 7,008,708.45 215.83
exceptional profit and loss
Net operating cash flow -54,477,772.75 -56,790,702.14 4.07
Basic earnings per share (RMB/share) 0.15 0.05 200.00
Diluted earnings per share (RMB/share) 0.15 0.05 200.00
Weighted average return on equity (%) 3.17 1.14 2.03
Item 31 March 2021 31 December 2020 +/-%
Total assets 2,987,771,586.17 2,408,046,446.78 24.07
Net assets attributable to shareholders of the Company 892,561,779.60 864,030,127.11 3.30
Total share capital up to the former trading date before the disclosure:
Total share capital up to the former trading date before the disclosure (share) 185,391,680
Fully diluted EPS calculated by the newest share capital
Fully diluted EPS calculated by the newest share capital (RMB/share) 0.15
Exceptional profit and loss
√ Applicable □ Not applicable
Unit: RMB
January-March
Item Note
2021
Profit/loss on disposal of non-current assets (including offset
amount of asset impairment provisions)
Tax rebates, reductions and exemptions due to approval beyond
authority or the lack of official approval documents
Government grants charged to the profit/loss for the Reporting
Period (except for the government grants closely related to the
1,717,430.34
business of the Company and given at a fixed quota or amount in
accordance with the State’s uniform standards)
Capital occupation charges on non-financial enterprises that are
charged to the profit/loss for the Reporting Period
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Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
January-March
Item Note
2021
Profit due to the situation where investment costs for the Company
to obtain subsidiaries, associates and joint ventures are lower than
the enjoyable fair value of identifiable net assets of investees when
making investments
Profit/loss on non-monetary asset swap
Profit/loss on entrusting others with investments or asset
management
Asset impairment provisions due to acts of God such as natural
disasters
Profit/loss on debt restructuring
Restructuring costs in staff arrangement, integration, etc.
Profit/loss on the part over the fair value due to transactions with
distinctly unfair prices
Reporting Period net profit/loss of subsidiaries acquired through
business mergers under the same control from period-beginnings
to merger dates
Profit/loss on contingencies irrelevant to the Company’s normal
business activities
Profit/loss on fair value changes of transactional financial assets
Mainly gains on forward forex
and liabilities & investment profit on disposal of transactional
contracts sold, gains on changes in fair
financial assets and liabilities as well as financial assets available 7,931,991.55
value and income from investments in
for sale, except for effectively hedging business related to normal
wealth management products
business operations of the Company
Impairment provision reversal for accounts receivable on which
the impairment test is carried out separately
Profit/loss on entrusted loans
Profit/loss on fair value changes in investing properties of which
the subsequent measurement is carried out adopting the fair value
method
Effect on Reporting Period profit/loss when a one-off adjustment is
made to Reporting Period profit/Loss according to requirements of
taxation, accounting and other relevant laws and regulations
Custody fee income when entrusted with operations
Non-operating income and expense other than the above 625,149.25
Other profit/loss that meet the definition of exceptional profit/loss
Less: Income tax effects 1,876,124.96
Minority interests effects (after tax) 2,790,886.82
Total 5,607,559.36
Explanation of why the Company classified an item as exceptional profit/loss according to the definition in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Profit and Loss,
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Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
or reclassified any exceptional profit/loss item given as an example in the said explanatory announcement to recurrent profit/loss
□ Applicable √ Not applicable
II Total number of shareholders at the period-end and shareholdings of top ten shareholders
1. Numbers of common shareholders and preference shareholders with resumed voting rights as well as
shareholdings of top ten shareholders
Unit: share
Total number of preference
Total number of common shareholders at the
15,061 shareholders with resumed voting 0
period-end
rights at the period-end
Shareholdings of top ten shareholders
Pledged or frozen shares
Nature of Shareholding Number of Number of restricted
Name of shareholder Status of Number of
shareholder percentage (%) shares held shares held
shares shares
FORDCHEE Foreign
29.10% 53,940,530 0 N/A 0
DEVELOPMENT LIMITED corporation
EUPA INDUSTRY Foreign
13.09% 24,268,840 0 N/A 0
CORPORATION LIMITED corporation
GUOTAI JUNAN
Foreign
SECURITIES(HONGKONG) 5.07% 9,401,599 0 N/A 0
corporation
LIMITED
FILLMAN INVESTMENTS Foreign
2.49% 4,621,596 0 N/A 0
LIMITED corporation
SHENWAN HONGYUAN
Foreign
SECURITIES (HK) CO., 1.06% 1,962,752 0 N/A 0
corporation
LTD.
Domestic
CHEN YONGQUAN 1.03% 1,900,776 0 N/A 0
individual
Foreign
CHEN YONGQING 0.87% 1,607,178 0 N/A 0
individual
Foreign
CHEN LIJUAN 0.76% 1,401,134 0 N/A 0
individual
Domestic
DING XIAOLUN 0.61% 1,130,000 0 N/A 0
individual
Domestic
CHEN RONGZHAO 0.34% 636,800 0 N/A 0
individual
Shareholdings of top ten unrestricted shareholders
Number of unrestricted Variety of shares
Name of shareholder
shares held Variety Number
Domestically listed foreign
FORDCHEE DEVELOPMENT LIMITED 53,940,530 53,940,530
share
EUPA INDUSTRY CORPORATION 24,268,840 Domestically listed foreign 24,268,840
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Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
LIMITED share
GUOTAI JUNAN Domestically listed foreign
9,401,599 9,401,599
SECURITIES(HONGKONG) LIMITED share
Domestically listed foreign
FILLMAN INVESTMENTS LIMITED 4,621,596 4,621,596
share
SHENWAN HONGYUAN SECURITIES Domestically listed foreign
1,962,752 1,962,752
(HK) CO., LTD. share
Domestically listed foreign
CHEN YONGQUAN 1,900,776 1,900,776
share
Domestically listed foreign
CHEN YONGQING 1,607,178 1,607,178
share
Domestically listed foreign
CHEN LIJUAN 1,401,134 1,401,134
share
Domestically listed foreign
DING XIAOLUN 1,130,000 1,130,000
share
Domestically listed foreign
CHEN RONGZHAO 636,800 636,800
share
The first, the second and the fourth shareholders are the Company’s corporate
controlling shareholders. It is unknown whether the other public shareholders are
Related or acting-in-concert parties among the
related parties or acting-in-concert parties as prescribed in the Administrative
shareholders above
Methods for Disclosure of the Shareholding Changes of the Listed Company’s
Shareholders.
Top ten common shareholders conducting
None
securities margin trading
Did any of the top ten common shareholders or the top ten non-restricted common shareholders of the Company conduct any
promissory repo during the Reporting Period?
□ Yea √ No
No such cases in the Reporting Period.
2. Total number of preference shareholders and shareholdings of the top ten of them
□ Applicable √ Not applicable
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Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
Section III Significant Events
I Changes in major accounting statement items and financial indicators for the Reporting
Period, as well as reasons for such changes
√ Applicable □ Not applicable
Unit: RMB
31 December
Major assets 31 March 2021 +/-% Main reason for change
2020
Other accounts receivable 21,595,683.78 31,938,548.59 -32.38% Receipt of export tax refunds in the current period
Other current assets 27,642,002.41 18,634,037.60 48.34% Increase in accrued interest in the current period
Renovation of the ceiling of the dust-free plant, which
Construction in progress 2,088,294.22 728,529.68 186.65%
was not yet accepted in the current period
Upon the implementation of the new accounting standard
Use rights assets 581,755,586.08 0.00 100.00% governing leases in 2021, use rights assets were
recognized on leases.
The installation of a smoke extraction system for
firefighting purposes for workshops, the renovation of
Long-term deferred
8,900,780.51 6,831,730.07 30.29% rooftop gutters, and other constructions were accepted
expenses
upon check in the current period and were thus
reclassified.
Certain equipment that had been prepaid for in the prior
Other non-current assets 271,120.09 2,044,702.30 -86.74% periods were accepted upon check and reclassified in the
current period.
Short-term borrowings 91,449,433.10 16,345,141.13 459.49% Increase in short-term borrowings in the current period
Held-for-trading financial Evaluated losses on forward foreign exchange contracts
1,659,200.00 0.00 100.00%
liabilities in the current period
Declared dividends payable by subsidiary TKL to its
Other accounts payable 85,828,411.67 52,803,158.48 62.54% overseas shareholders pending approval as at the end of
the current period
Upon the implementation of the new accounting standard
Non-current liabilities due governing leases in 2021, lease liabilities due within one
45,905,649.29 0.00 100.00%
within one year year were reclassified to non-current liabilities due within
one year.
Upon the implementation of the new accounting standard
Lease liabilities 547,186,720.14 0.00 100.00% governing leases in 2021, lease liabilities were
recognized on leases.
Greater differences arising from the translation of foreign
Other composite income 2,611,382.43 1,823,063.03 43.24% currency-denominated financial statements in the current
period
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Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
January-March January-March
Item +/-% Main reason for change
2021 2020
The launch of new products resulted in a considerable
Sales revenue 564,283,057.89 311,268,019.82 81.29%
increase in export orders in the current period.
Cost of sales 480,010,074.28 259,130,305.97 85.24% Increases in sales revenue and in costs of raw materials
Sales revenue increased in the current period, resulting in
Selling expenses 16,566,383.53 10,203,823.43 62.35%
an increase in relevant expenses.
Upon the implementation of the new accounting standard
governing leases in 2021, a lessee should calculate the
interest expenses on lease liabilities for reporting periods
within the lease period. Meanwhile, the amount of term
Finance costs 202,333.47 -13,330,006.83 101.52%
deposits decreased for transfer to investments in wealth
management products. This, together with lower interest
rates for the term deposits, resulted in a decrease in
interest revenue.
Receipt of government grants (given by stage) in relation
Other income 1,717,430.34 544,428.12 215.46%
to R&D expenses in the current period
Increase in evaluated gains on settled forward foreign
Profit on investment 27,101,088.78 5,664,311.57 378.45%
exchange contracts in the current period
Reversal of the changes in evaluated gains on forward
Profit on fair value changes -19,169,097.23 -4,717,589.00 -306.33% foreign exchange contracts that were settled in the current
period
In the same period of last year, an impairment allowance
of RMB5.92 million was established for an account
Credit impairment loss 189,985.66 -5,992,280.84 103.17%
receivable from a customer, which was collected in the
second quarter of last year.
Income arising from The same period of last year saw an income from the
0.00 83,477.98 -100.00%
disposal of assets disposal of properties.
The same period of last year saw compensation from
Non-operating revenue 654,922.94 1,638,764.42 -60.04%
customer for material loss due to cancelled order.
Non-operating expense 29,773.69 216.93 13625.02% Payment of overdue fine for property tax
Increase in income tax provisions due to a higher profit in
Corporate income tax 5,509,225.91 3,710,010.33 48.50%
the current period
Changes in term deposits at bank for deriving interest
Net investment cash flow -83,470,461.21 -319,227,675.24 73.85%
revenue
Net financing cash flow 67,214,020.16 -733,889.57 9258.60% Increase in short-term borrowings in the current period
II Progress of significant events and analysis & explanations on their influence and solutions
□ Applicable √ Not applicable
Progress of any share repurchase:
□ Applicable √ Not applicable
Progress of any reduction of the repurchased shares through centralized bidding:
□ Applicable √ Not applicable
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Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
III Commitments of the Company’s actual controller, shareholders, related parties and
acquirer, as well as the Company and other commitment makers, unfulfilled in this reporting
period
□ Applicable √ Not applicable
During the Reporting Period, there were no Commitments of the Company’s actual controller, shareholders, related parties and
acquirer, as well as the Company and other commitment makers, fulfilled in this reporting period or ongoing at the period-end.
IV Financial investments
1. Securities investments
□Applicable √ Not applicable
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Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
2. Investments in derivative financial instruments
√ Applicable □ Not applicable
Unit: RMB’0,000
Ratio of
Investmen investment
Related- Type of Amount Investmen
t amount Pursed in amount at the end Actual
party investment Initial Sold in this provide t amount
Commencement at the this of the period to profit/los
Operating party Relation transacti in derivative investmen Termination date reporting d for at the end
date beginning reporting the Company's s for the
on or financial t amount period impairm of the
of the period net asset at the period
not instruments ent period
period end of the period
(%)
Non-rel Forward
Bank No 66,140.98 01/01/2021 03/31/2021 46,529.65 19,611.33 30,465.40 35,675.58 39.97 63.58
ated forex
Total 66,140.98 46,529.65 19,611.33 30,465.40 35,675.58 39.97 63.58
Source of investment funds All from the Company's own funds
Lawsuits No lawsuits
Disclosure date of the announcement about the board’s
03/12/2013
consent for the investment
Disclosure date of the announcement about the general
05/18/2013
meeting’s consent for the investment
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
Risk analysis and risk control measures for positions existing assets and liabilities and the net risk exposure of assets and liabilities arising from the operation of the Company in the coming year.
held in derivatives in this reporting period (including
(2) Staff requirements: Personnel taking part in the investment shall all fully understand the risks of derivative investment and strictly execute the business
but not limited to market risk, liquidity risk, credit risk,
operational risk, legal risk, etc.) operation and risk management mechanisms for derivative investment.
(3) Operation standardization: Before making a derivative investment, the Company shall rationally equip itself with 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. The Company and its subsidiaries
only need to submit to the Board of Directors of the subsidiaries.
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Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
(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 on delivered derivatives in the Reporting Period were RMB20.0228 million, and assessed losses on those undelivered were RMB19.387 million,
Changes in market price or fair value of derivatives among which RMB20.8219 million of assessed gains on undelivered forward forex contracts of last year was reversed.
invested in this reporting period (specific methods
(2) The former contracted bank provided monthly sheets of estimated exchange rates for the undue contracted forward exchanges on the last trading day of the
used and relevant assumption and parameter settings
shall be disclosed for analysis of fair value of month.
derivatives) (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.
Significant changes in the Company’s accounting
policies and specific accounting principles for
No significant changes
derivatives in this reporting period as compared to the
prior period
Special opinions expressed by independent directors The Company has carried out a strict internal assessment for the financial derivative business and has established a corresponding supervision mechanism. We
concerning the Company’s derivatives investment and are of the opinion that the financial derivative business conducted by the Company is fairly necessary in its routine operation and is in compliance with
risk control relevant laws and regulations, with the risks controllable.
V Progress on projects invested with raised fund
□ Applicable √ Not applicable
VI Operating result forecast for January-June 2021
Forecast of a possible deficit or considerable YoY change in the accumulative net profit made during the period from the beginning of the year to the end of the next reporting period, as well as
explanation of why:
□ Applicable √ Not applicable
VII Significant contracts relevant to routine operation
□ Applicable √ Not applicable
VIII Entrustment of wealth management
√ Applicable □ Not applicable
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Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
Unit: RMB’0,000
Type of wealth management Funding source Principal Outstanding amount before maturity Overdue amount
Wealth management product purchased
Self-funded 70,000.00 65,000.00 0.00
from bank
Total 70,000.00 65,000.00 0.00
High-risk wealth management entrustments with amounts that are individually significant, or with low security, low liquidity, or no protection of the principal
√Applicable □ Not applicable
Unit: RMB’0,000
Type
Overvie
of Actual Collection/p Through Any
Reference Impair w and
Type wealth Fundi Investmen gain/loss ayment of prescrib plan for
Principa Commence Termination Way of annualize Expecte ment index to
Trustee of manag ng t with in gain/loss in ed further
l ment date date payback d return d return allowa more
trustee ement source principal Reporting Reporting procedu entrustm
(%) nce informat
produ Period Period re or not ent
ion
ct
Chiyu Banking
Corporation
5,000 2020-1-9 2021-1-8 4.35% 220.52 220.52
Ltd.-Fuzhou
Branch
Chiyu Banking
Corporation
5,000 2020-8-10 2021-2-10 3.70% 94.56 94.56
Ltd.-Fuzhou Recovered
Branch upon
Chiyu Banking maturity
Corporation Subject
5,000 2020-9-8 2021-3-8 Payment 3.60% 90.50 90.50
Ltd.-Fuzhou Break- to the
Branch of
even future
Xiamen interest www.cn
floatin Self-f Structural market
International Bank 8,500 2020-3-10 2021-3-10 and 4.00% 344.72 344.72 N/A Yes info.co
g unded deposit yield
Bank principa m.cn
procee and fund
Xiamen l at
ds conditio
International 6,000 2020-8-18 2021-8-17 maturity 3.40% 206.27 n
Bank
Xiamen
International 5,500 2020-8-20 2021-8-19 3.40% 189.08
Bank Undue
Xiamen
International 5,000 2020-9-4 2021-9-3 3.40% 171.89
Bank
Xiamen
5,000 2020-10-23 2021-4-21 3.40% 85.00
International
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Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
Type
Overvie
of Actual Collection/p Through Any
Reference Impair w and
Type wealth Fundi Investmen gain/loss ayment of prescrib plan for
Principa Commence Termination Way of annualize Expecte ment index to
Trustee of manag ng t with in gain/loss in ed further
l ment date date payback d return d return allowa more
trustee ement source principal Reporting Reporting procedu entrustm
(%) nce informat
produ Period Period re or not ent
ion
ct
Bank
Xiamen
International 5,000 2020-11-11 2021-5-10 3.40% 85.00
Bank
Xiamen
International 5,000 2020-11-19 2021-11-19 3.40% 172.36
Bank
Xiamen
International 5,000 2020-12-10 2021-12-9 3.40% 171.89
Bank
Xiamen
International 5,000 2020-12-11 2021-12-10 3.40% 171.89
Bank
Xiamen
International 5,000 2020-12-11 2021-9-7 3.40% 127.50
Bank
Xiamen BEA 5,000 2021-1-13 2021-7-13 3.50% 87.99
Xiamen BEA 5,000 2021-2-25 2021-12-23 3.50% 146.32
Xiamen
International 5,000 2021-3-18 2021-12-13 3.50% 131.25
Bank
Xiamen
International 3,500 2021-3-19 2021-12-14 3.50% 91.88
Bank
Total 88,500 2588.62 750.30
Whether there is the case where the principal cannot be recovered at maturity or other case which may cause impairment for entrusted asset management
□ Applicable √ Inapplicable
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Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
IX Illegal provision of guarantees for external parties
□ Applicable √ Not applicable
X Occupation of the Company’s funds by the controlling shareholder or its related parties for
non-operating purposes
□ Applicable √ Not applicable
XI Visits paid to the Company in the Reporting Period for purposes of research,
communication, interview, etc.
√ Applicable □ Not applicable
Type of Contents and materials Index to main inquiry
Date of visit Place of visit Way of visit Visitor
visitor provided information
Inquired of the operation of
By phone and no materials
2021-01-05 The Company By phone Individual Mr. Yi Qiang the Company and the reform
provided
of B-share
Inquired of the operation of
By phone and no materials
2021-02-01 The Company By phone Individual Mr. Ding the Company, the reform of
provided
B-share and dividends
Inquired of the operation of
By phone and no materials
2021-02-01 The Company By phone Individual Mr. Xu the Company, the reform of
provided
B-share and dividends
Inquired of the operation of
By phone and no materials
2021-03-09 The Company By phone Individual Mr. Xu the Company, the reform of
provided
B-share and dividends
Inquired of the reason for low
dividend proportion, the
influence of increase in raw
materials on the Company
and corresponding responses,
whether orders of the
Company after the epidemic
YOUMEILI will be affected and
By phone and no materials
2021-03-23 The Company By phone Institution Investment, corresponding responses since
provided
Mr. Li the Annual Report of the
Company disclosed that
orders of the Company
increased due to the epidemic,
the future development
prospect and core
competitiveness of the
Company.
By network （2020 annual Inquired of the operation of
Investmen， the Company and the reform
performance presentation
2021-03-31 The Company Other Other Individual meeting）and no materials of B-share, refer the record of
investor Investor relations meeting on
provided 31 March 2021 for details.
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Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
Section IV Financial Statements
I Financial statements
1. Consolidated balance sheet
Prepared by TSANN KUEN (CHINA) ENTERPRISE CO., LTD.
Unit: RMB
Item 31 March 2021 31 December 2020 Item 31 March 2021 31 December 2020
Current assets: Current liabilities:
Monetary funds 794,503,785.66 707,794,598.20 Short-term borrowings 91,449,433.10 16,345,141.13
Held-for-trading financial
Held-for-trading financial assets 653,312,002.77 720,821,900.00 1,659,200.00
liabilities
Derivative financial assets Derivative financial liabilities
Notes receivable Notes payable 8,463,781.74 7,521,531.97
Accounts receivable 401,791,217.22 431,006,560.62 Accounts payable 770,015,443.46 874,962,887.93
Accounts receivable financing Accounts received in advance 7,325,773.46 6,853,100.03
Accounts paid in advance 2,669,177.47 2,622,554.07 Contractual liabilities 22,279,990.86 25,605,755.71
Other accounts receivable 21,595,683.78 31,938,548.59 Payroll payable 38,631,228.26 51,262,265.67
Of which: Interest receivable Taxes and fares payable 19,091,966.20 20,238,247.17
Dividends receivable Other accounts payable 85,828,411.67 52,803,158.48
Inventories 265,917,443.99 255,052,077.36 Of which: Interest payable
Contractual assets Dividends payable 34,445,848.97
Assets held for sale Liabilities held for sale
Non-current assets due within Non-current liabilities due within
45,905,649.29
one year one year
Other current assets 27,642,002.41 18,634,037.60 Other current liabilities
Total current assets 2,167,431,313.30 2,167,870,276.44 Total current liabilities 1,090,650,878.04 1,055,592,088.09
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Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
Item 31 March 2021 31 December 2020 Item 31 March 2021 31 December 2020
Non-current assets: Non-current liabilities:
Investments in debt obligations Long-term borrowings
Investments in other debt
Bonds payable
obligations
Long-term accounts receivable Of which: Preference shares
Long-term equity investments Perpetual bonds
Investments in other equity
40,000.00 40,000.00 Lease liabilities 547,186,720.14
instruments
Other non-current financial
Long-term accounts payable
assets
Investment property 20,939,381.57 21,255,610.91 Long-term payroll payable 327,324.08 312,775.91
Fixed assets 161,251,063.08 164,338,962.07 Estimated liabilities
Construction in progress 2,088,294.22 728,529.68 Deferred income
Productive living assets Deferred income tax liabilities 48,789,979.62 51,425,551.57
Oil-gas assets Other non-current liabilities - -
Use rights assets 581,755,586.08 Total non-current liabilities 596,304,023.84 51,738,327.48
Intangible assets 29,047,297.66 29,346,312.82 Total liabilities 1,686,954,901.88 1,107,330,415.57
R&D expense Owners’ equity:
Goodwill Share capital 185,391,680.00 185,391,680.00
Long-term deferred expenses 8,900,780.51 6,831,730.07 Other equity instruments
Deferred income tax assets 16,046,749.66 15,590,322.49 Of which: Preference shares
Other non-current assets 271,120.09 2,044,702.30 Perpetual bonds
Total non-current assets 820,340,272.87 240,176,170.34 Capital reserves 296,808,965.79 296,808,965.79
Less: Treasury stock
Other composite income 2,611,382.43 1,823,063.03
Special reserves
Surplus reserves 49,087,662.68 49,087,662.68
Retained profit 358,662,088.70 330,918,755.61
Total equity attributable to owners 892,561,779.60 864,030,127.11
16
Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
Item 31 March 2021 31 December 2020 Item 31 March 2021 31 December 2020
of the Company
Minority interests 408,254,904.69 436,685,904.10
Total owners’ equity 1,300,816,684.29 1,300,716,031.21
Total liabilities and owners’
Total assets 2,987,771,586.17 2,408,046,446.78 2,987,771,586.17 2,408,046,446.78
equity
Legal representative: Pan Zhirong Chief of the accounting work: Wu Jianhua Chief of the accounting organ: Wu Jianhua
17
Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
2. Balance sheet of the Company
Unit: RMB
Assets 31 March 2021 31 December 2020 Liabilities and owners’ equity 31 March 2021 31 December 2020
Current assets: Current liabilities:
Monetary funds 37,083,401.10 7,767,004.93 Short-term borrowings
Held-for-trading financial Held-for-trading financial
assets liabilities
Derivative financial assets Derivative financial liabilities
Notes receivable Notes payable
Accounts receivable 1,189,487.94 2,710,138.48 Accounts payable 2,144,250.22 31,990,751.46
Accounts receivable
Accounts received in advance 1,302,025.80 1,101,005.38
financing
Accounts paid in advance 133,514.34 32,124.35 Contractual liabilities 246,564.13 224,884.11
Other accounts receivable 2,469,725.06 3,311,425.63 Payroll payable 2,796,645.57 7,903,368.21
Of which: Interest receivable Taxes and fares payable 1,096,307.20 1,896,604.41
Dividends
Other accounts payable 113,327,453.79 168,453,443.56
receivable
Inventories 1,127,317.19 1,457,947.89 Of which: Interest payable
Contractual assets Dividends payable
Assets held for sale Liabilities held for sale
Non-current assets due within Non-current liabilities due
288,000.00
one year within one year
Other current assets Other current liabilities
Total current assets 42,003,445.63 15,278,641.28 Total current liabilities 121,201,246.71 211,570,057.13
Non-current assets: Non-current liabilities:
Investments in debt
Long-term borrowings
obligations
Investments in other debt
Bonds payable
obligations
Long-term accounts Of which: Preference
receivable shares
Long-term equity 923,414,701.56 923,414,701.56 Perpetual
18
Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
Assets 31 March 2021 31 December 2020 Liabilities and owners’ equity 31 March 2021 31 December 2020
investments bonds
Investments in other equity
40,000.00 40,000.00 Lease liabilities 451,950.77
instruments
Other non-current financial
Long-term accounts payable
assets
Investment property 24,620,159.13 25,202,712.69 Long-term payroll payable
Fixed assets 501,012.71 606,019.76 Estimated liabilities
Construction in progress 348,990.82 Deferred income
Deferred income tax
Productive living assets
liabilities
Oil-gas assets Other non-current liabilities
Use rights assets 736,801.67 Total non-current liabilities 451,950.77
Intangible assets Total liabilities 121,653,197.48 211,570,057.13
R&D expense Owners’ equity:
Goodwill Share capital 185,391,680.00 185,391,680.00
Long-term deferred expenses 600,007.13 641,932.25 Other equity instruments
Of which: Preference
Deferred income tax assets 3,850,968.59 3,961,079.97
shares
Perpetual
Other non-current assets
bonds
Total non-current assets 954,112,641.61 953,866,446.23 Capital reserves 271,490,289.82 271,490,289.82
Less: Treasury stock
Other composite income
Special reserves
Surplus reserves 49,087,662.68 49,087,662.68
Retained profit 368,493,257.26 251,605,397.88
Total owners’ equity 874,462,889.76 757,575,030.38
Total liabilities and owners’
Total assets 996,116,087.24 969,145,087.51 996,116,087.24 969,145,087.51
equity
Legal representative: Pan Zhirong Chief of the accounting work: Wu Jianhua Chief of the accounting organ: Wu Jianhua
19
Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
3. Consolidated income statement
Unit: RMB
Item January-March 2021 January-March 2020
1. Operating revenues 564,283,057.89 311,268,019.82
Including: Sales revenue 564,283,057.89 311,268,019.82
2. Total operating costs 531,837,123.05 292,786,142.16
Including: Cost of sales 480,010,074.28 259,130,305.97
Taxes and surtaxes 2,689,878.05 3,697,158.96
Selling expenses 16,566,383.53 10,203,823.43
Administrative expenses 17,563,583.55 17,666,221.71
R&D expenses 14,804,870.17 15,418,638.92
Finance costs 202,333.47 -13,330,006.83
Of which: Interest expenses 209,996.72 138,459.08
Interest revenue 5,418,743.49 9,579,038.90
Add: other income 1,717,430.34 544,428.12
Profit/loss on investment (“-” means loss) 27,101,088.78 5,664,311.57
Including: Share of profit in associates and joint ventures
Income from the derecognition of financial assets
at amortized cost
Net gain on exposure hedges (“-” means loss)
Profit/loss on fair value changes (“-” means loss) -19,169,097.23 -4,717,589.00
Credit impairment loss (“-” means loss) 189,985.66 -5,992,280.84
Asset impairment loss (“-” means loss) -78,539.67 -65,010.78
Income arising from disposal of assets (“-” means loss) 83,477.98
3. Operating profit (“-” means loss) 42,206,802.72 13,999,214.71
Add: Non-operating revenue 654,922.94 1,638,764.42
Less: Non-operating expense 29,773.69 216.93
4. Total profit (“-” means loss) 42,831,951.97 15,637,762.20
Less: Corporate income tax 5,509,225.91 3,710,010.33
5. Net profit (“-” means loss) 37,322,726.06 11,927,751.87
5.1 Classified by operating continuity
5.1.1 Net profit from going concern (“-” means net loss) 37,322,726.06 11,927,751.87
5.1.2 Net profit from discontinued operations (“-” means net
loss)
5.2 Classified by ownership
5.2.1 Net profit attributable to owners of the Company (“-”
27,743,333.09 8,577,244.43
means net loss)
5.2.2 Minority shareholders’ income (“-” means net loss) 9,579,392.97 3,350,507.44
6. After-tax net amount of other composite income 1,051,092.53 -331,853.85
20
Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
Item January-March 2021 January-March 2020
6.1 After-tax net amount of other composite income
788,319.40 -248,890.39
attributable to owners of the Company
6.1.1 Other composite income that will not be reclassified to
67,071.95 -8,394.48
profit or loss
6.1.1.1 Changes caused by remeasurements on defined
67,071.95 -8,394.48
benefit pension schemes
6.1.1.2 Share of other comprehensive income of investees
that will not be reclassified to profit or loss under equity method
6.1.1.3 Changes in the fair value of investments in other
equity instruments
6.1.1.4 Changes in the fair value of the company’s credit
risks
6.1.2 Other composite income that will be reclassified to profit
721,247.45 -240,495.91
or loss
6.1.2.1 Share of other comprehensive income of investees
that will be reclassified to profit or loss under equity method
6.1.2.2 Changes in the fair value of investments in other
debt obligations
6.1.2.3 Other comprehensive income arising from the
reclassification of financial assets
6.1.2.4 Allowance for credit impairments in investments in
other debt obligations
6.1.2.5 Reserve for cash flow hedges
6.1.2.6 Differences arising from the translation of foreign
721,247.45 -240,495.91
currency-denominated financial statements
6.2 After-tax net amount of other composite income
262,773.13 -82,963.46
attributable to minority shareholders
7. Total composite income 38,373,818.59 11,595,898.02
Attributable to owners of the Company 28,531,652.49 8,328,354.04
Attributable to minority shareholders 9,842,166.10 3,267,543.98
8. Earnings per share
8.1 Basic earnings per share (RMB/share) 0.15 0.05
8.2 Diluted earnings per share (RMB/share) 0.15 0.05
Where business mergers under the same control occurred in the Reporting Period, net profit achieved by the merged parties before
the business mergers was RMB 0.00, with the corresponding amount for the same period of last year being RMB0.00.
Legal representative: Pan Zhirong Chief of the accounting work: Wu Jianhua Chief of the accounting organ: Wu Jianhua
21
Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
4. Income statement of the Company
Unit: RMB
Item January-March 2021 January-March 2020
1. Operating revenues 13,901,260.96 15,352,242.05
Less: Operating costs 9,935,324.85 10,668,628.01
Taxes and surtaxes 629,054.07 425,542.88
Selling expenses 359,135.66 718,469.05
Administrative expenses 742,566.03 815,268.27
R&D expenses
Finance costs -4,539.83 -24,268.91
Of which: Interest expenses
Interest revenue 16,037.23 26,789.77
Add: other income 2,093.10 70,439.12
Profit/loss on investment (“-” means loss) 114,819,496.58 79,185,554.77
Including: Share of profit in associates and joint ventures
Income from the derecognition of financial
assets at amortized cost
Net gain on exposure hedges (“-” means loss)
Profit/loss on fair value changes (“-” means loss)
Credit impairment loss (“-” means loss) -21,379.37 241,389.11
Asset impairment loss (“-” means loss) -78,539.67 -65,010.78
Income arising from disposal of assets (“-” means loss)
2. Operating profit (“-” means loss) 116,961,390.82 82,180,974.97
Add: Non-operating revenue 61,763.28 82,572.22
Less: Non-operating expense 25,183.34
3. Total profit (“-” means loss) 116,997,970.76 82,263,547.19
Less: Corporate income tax 110,111.38 596,895.55
4. Net profit (“-” means loss) 116,887,859.38 81,666,651.64
4.1 Net profit from going concern (“-” means net loss) 116,887,859.38 81,666,651.64
4.2 Net profit from discontinued operation (“-” means net
loss)
5. After-tax net amount of other composite income
5.1 Other composite income that will not be reclassified to
profit or loss
5.1.1 Changes caused by remeasurements on defined
benefit pension schemes
5.1.2 Share of other comprehensive income of investees
that will not be reclassified to profit or loss under equity
method
5.1.3 Changes in the fair value of investments in other
equity instruments
5.1.4 Changes in the fair value of the company’s credit
risks
5.2 Other composite income that will be reclassified to profit
or loss
5.2.1 Share of other comprehensive income of investees
that will be reclassified to profit or loss under equity method
22
Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
Item January-March 2021 January-March 2020
5.2.2 Changes in the fair value of investments in other
debt obligations
5.2.3 Other comprehensive income arising from the
reclassification of financial assets
5.2.4 Allowance for credit impairments in investments in
other debt obligations
5.2.5 Reserve for cash flow hedges
5.2.6 Differences arising from the translation of foreign
currency-denominated financial statements
6. Total composite income 116,887,859.38 81,666,651.64
Legal representative: Pan Zhirong Chief of the accounting work: Wu Jianhua Chief of the accounting organ: Wu Jianhua
23
Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
5. Consolidated cash flow statement
Unit: RMB
Item January-March 2021 January-March 2020
1. Operating cash flow:
Cash received from sale of commodities and rendering of service 574,922,462.44 377,181,918.05
Tax refunds received 46,188,016.52 31,669,598.22
Other operating cash received 25,356,204.20 16,143,866.05
Subtotal of operating cash inflow 646,466,683.16 424,995,382.32
Cash paid for goods and services 555,871,030.23 377,769,798.26
Cash paid to and for employees 81,681,299.18 62,408,673.02
Taxes and fares paid 13,788,492.54 10,265,154.62
Other cash payment relating to operating activities 49,603,633.96 31,342,458.56
Subtotal of operating cash outflow 700,944,455.91 481,786,084.46
Net operating cash flow -54,477,772.75 -56,790,702.14
2. Investment cash flow:
Cash received from retraction of investments 290,433,595.90 109,001,233.00
Cash received from return on investments 7,722,813.49 6,451,378.08
Net cash received from disposal of fixed assets, intangible assets and other
2,221.87
long-term assets
Net cash received from disposal of subsidiaries or other business units
Other cash received relating to investment activities 3,090,938.40 156,224,193.75
Subtotal of investment cash inflow 301,247,347.79 271,679,026.70
Cash paid to acquire fixed assets, intangible assets and other long-term assets 7,757,513.11 15,276,507.11
Cash paid for investment 221,320,067.09 145,659,554.21
Net cash paid to acquire subsidiaries and other business units
Other cash payments relating to investment activities 155,640,228.80 429,970,640.62
Subtotal of investment cash outflow 384,717,809.00 590,906,701.94
Net investment cash flow -83,470,461.21 -319,227,675.24
3. Financing cash flow:
Cash received from capital contributions
Including: Cash received from minority shareholder investments by
subsidiaries
Cash received as borrowings 74,143,140.00 26,173,640.00
Other financing cash received 5,502,313.82
Subtotal of financing cash inflow 79,645,453.82 26,173,640.00
Repayment of borrowings 26,769,860.00
Cash paid for interest expenses and distribution of dividends or profit 3,926,677.43 137,669.57
Including: dividends or profit paid by subsidiaries to minority shareholders 3,827,316.55
Other cash payments relating to financing activities 8,504,756.23
Sub-total of financing cash outflow 12,431,433.66 26,907,529.57
Net financing cash flow 67,214,020.16 -733,889.57
4. Effect of foreign exchange rate changes on cash and cash equivalents 1,891,668.45 2,158,445.77
5. Net increase in cash and cash equivalents -68,842,545.35 -374,593,821.18
Add: Opening balance of cash and cash equivalents 672,801,206.68 639,623,201.98
6. Closing balance of cash and cash equivalents 603,958,661.33 265,029,380.80
Legal representative: Pan Zhirong Chief of the accounting work: Wu Jianhua Chief of the accounting organ: Wu Jianhua
24
Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
6. Cash flow statement of the Company
Unit: RMB
Item January-March 2021 January-March 2020
1. Operating cash flow:
Cash received from sale of commodities and rendering of service 4,437,096.70 7,577,827.33
Tax refunds received
Other operating cash received 13,272,191.31 11,827,649.30
Subtotal of operating cash inflow 17,709,288.01 19,405,476.63
Cash paid for goods and services 31,594,843.94 408,892.55
Cash paid to and for employees 445,473.54 478,984.65
Taxes and fares paid 2,187,232.90 1,712,702.54
Other operating cash payments 69,032,750.67 77,617,765.17
Subtotal of operating cash outflow 103,260,301.05 80,218,344.91
Net operating cash flow -85,551,013.04 -60,812,868.28
2. Investment cash flow:
Cash received from retraction of investments
Cash received from return on investments 114,819,496.58 79,185,554.77
Net cash received from disposal of fixed assets, intangible assets and other
long-term assets
Net cash received from disposal of subsidiaries or other business units
Other cash received relating to investment activities
Subtotal of investment cash inflow 114,819,496.58 79,185,554.77
Cash paid to acquire fixed assets, intangible assets and other long-term assets 25,000.00 54,985.00
Cash paid for investment
Net cash paid to acquire subsidiaries and other business units
Other investment cash payments
Subtotal of investment cash outflow 25,000.00 54,985.00
Net investment cash flow 114,794,496.58 79,130,569.77
3. Financing cash flow:
Cash received from capital contributions
Cash received as borrowings
Other financing cash received
Subtotal of financing cash inflow
Repayment of borrowings
Cash paid for interest expenses and distribution of dividends or profit
Other cash payments relating to financing activities
Sub-total of financing cash outflow
Net financing cash flow
4. Effect of foreign exchange rate changes on cash and cash equivalents 14.33 33.67
5. Net increase in cash and cash equivalents 29,243,497.87 18,317,735.16
Add: Opening balance of cash and cash equivalents 7,624,622.27 7,624,622.27
6. Closing balance of cash and cash equivalents 36,868,120.14 25,942,357.43
Legal representative: Pan Zhirong Chief of the accounting work: Wu Jianhua Chief of the accounting organ: Wu Jianhua
25
Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
II Adjustments to the Financial Statements
1. Adjustments to the financial statements at the beginning of the first execution year of New Standards Governing Leases since 2021
These statements shall be filled in so long as the Company starts to implement the new standards governing leases since 2021, unless the adjustment to items of the balance sheets at the
beginning of the year is unnecessary.
√ Applicable □ Not applicable
Whether items of the balance sheets at the beginning of the year need adjusting or not
√ Yes □ No
Consolidated balance sheet
Unit: RMB
Item 31 December 2020 1 January 2021 Adjusted Item 31 December 2020 1 January 2021 Adjusted
Current assets: Current liabilities:
Monetary funds 707,794,598.20 707,794,598.20 Short-term borrowings 16,345,141.13 16,345,141.13
Held-for-trading financial Held-for-trading financial
720,821,900.00 720,821,900.00
assets liabilities
Derivative financial assets Derivative financial liabilities
Notes receivable Notes payable 7,521,531.97 7,521,531.97
Accounts receivable 431,006,560.62 431,006,560.62 Accounts payable 874,962,887.93 874,962,887.93
Accounts receivable
Accounts received in advance 6,853,100.03 6,853,100.03
financing
Accounts paid in advance 2,622,554.07 2,622,554.07 Contractual liabilities 25,605,755.71 25,605,755.71
Other accounts receivable 31,938,548.59 31,938,548.59 Payroll payable 51,262,265.67 51,262,265.67
Of which: Interest receivable Taxes and fares payable 20,238,247.17 20,238,247.17
Dividends
Other accounts payable 52,803,158.48 52,803,158.48
receivable
Inventories 255,052,077.36 255,052,077.36 Of which: Interest payable
Contractual assets Dividends payable
Assets held for sale Liabilities held for sale
Non-current assets due Non-current liabilities due within
37,395,403.89 37,395,403.89
within one year one year
26
Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
Item 31 December 2020 1 January 2021 Adjusted Item 31 December 2020 1 January 2021 Adjusted
Other current assets 18,634,037.60 18,634,037.60 Other current liabilities
Total current assets 2,167,870,276.44 2,167,870,276.44 0.00 Total current liabilities 1,055,592,088.09 1,092,987,491.98 37,395,403.89
Non-current assets: Non-current liabilities:
Investments in debt
Long-term borrowings
obligations
Investments in other debt
Bonds payable
obligations
Long-term accounts
Of which: Preference shares
receivable
Long-term equity
Perpetual bonds
investments
Investments in other equity
40,000.00 40,000.00 Lease liabilities 549,532,579.83 549,532,579.83
instruments
Other non-current financial
Long-term accounts payable
assets
Investment property 21,255,610.91 21,255,610.91 Long-term payroll payable 312,775.91 312,775.91
Fixed assets 164,338,962.07 164,338,962.07 Estimated liabilities
Construction in progress 728,529.68 728,529.68 Deferred income
Productive living assets Deferred income tax liabilities 51,425,551.57 51,425,551.57
Oil-gas assets Other non-current liabilities -
Use rights assets 586,927,983.72 586,927,983.72 Total non-current liabilities 51,738,327.48 601,270,907.31 549,532,579.83
Intangible assets 29,346,312.82 29,346,312.82 Total liabilities 1,107,330,415.57 1,694,258,399.29 586,927,983.72
R&D expense Owners’ equity:
Goodwill Share capital 185,391,680.00 185,391,680.00
Long-term deferred expenses 6,831,730.07 6,831,730.07 Other equity instruments
Deferred income tax assets 15,590,322.49 15,590,322.49 Of which: Preference shares
Other non-current assets 2,044,702.30 2,044,702.30 Perpetual bonds
Total non-current assets 240,176,170.34 827,104,154.06 586,927,983.72 Capital reserves 296,808,965.79 296,808,965.79
Less: Treasury stock
Other composite income 1,823,063.03 1,823,063.03
Special reserves
Surplus reserves 49,087,662.68 49,087,662.68
27
Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
Item 31 December 2020 1 January 2021 Adjusted Item 31 December 2020 1 January 2021 Adjusted
Retained profit 330,918,755.61 330,918,755.61
Total equity attributable to owners of
864,030,127.11 864,030,127.11
the Company
Minority interests 436,685,904.10 436,685,904.10
Total owners’ equity 1,300,716,031.21 1,300,716,031.21
Total assets 2,408,046,446.78 2,994,974,430.50 586,927,983.72 Total liabilities and owners’ equity 2,408,046,446.78 2,994,974,430.50 586,927,983.72
Note: The new standards governing leases are implemented in 2021. As for all leases excluding short-term leases and low-value assets leases, the use
rights assets and lease liabilities thereof shall be recognized, meanwhile, the amount of lease liabilities due within one year shall be reclassified into the
item of non-current liabilities due within one year.
28
Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
Balance sheet of the Company
Unit: RMB
Assets 31 December 2020 1 January 2021 Adjusted Liabilities and owners’ equity 31 December 2020 1 January 2021 Adjusted
Current assets: Current liabilities:
Monetary funds 7,767,004.93 7,767,004.93 Short-term borrowings
Held-for-trading financial Held-for-trading financial
assets liabilities
Derivative financial assets Derivative financial liabilities
Notes receivable Notes payable
Accounts receivable 2,710,138.48 2,710,138.48 Accounts payable 31,990,751.46 31,990,751.46
Accounts receivable
Accounts received in advance 1,101,005.38 1,101,005.38
financing
Accounts paid in advance 32,124.35 32,124.35 Contractual liabilities 224,884.11 224,884.11
Other accounts receivable 3,311,425.63 3,311,425.63 Payroll payable 7,903,368.21 7,903,368.21
Of which: Interest
Taxes and fares payable 1,896,604.41 1,896,604.41
receivable
Dividends
Other accounts payable 168,453,443.56 168,453,443.56
receivable
Inventories 1,457,947.89 1,457,947.89 Of which: Interest payable
Contractual assets Dividends payable
Assets held for sale Liabilities held for sale
Non-current assets due Non-current liabilities due within
288,000.00 288,000.00
within one year one year
Other current assets Other current liabilities
Total current assets 15,278,641.28 15,278,641.28 Total current liabilities 211,570,057.13 211,858,057.13 288,000.00
Non-current assets: Non-current liabilities:
Investments in debt
Long-term borrowings
obligations
Investments in other debt
Bonds payable
obligations
Long-term accounts
Of which: Preference shares
receivable
Long-term equity
923,414,701.56 923,414,701.56 Perpetual bonds
investments
Investments in other equity
40,000.00 40,000.00 Lease liabilities 515,783.63 515,783.63
instruments
Other non-current financial
Long-term accounts payable
assets
Investment property 25,202,712.69 25,202,712.69 Long-term payroll payable
Fixed assets 606,019.76 606,019.76 Estimated liabilities
29
Report for the First Quarter of 2021 of Tsann Kuen (China) Enterprise Co., Ltd.
Assets 31 December 2020 1 January 2021 Adjusted Liabilities and owners’ equity 31 December 2020 1 January 2021 Adjusted
Construction in progress Deferred income
Productive living assets Deferred income tax liabilities
Oil-gas assets Other non-current liabilities
Use rights assets 803,783.63 803,783.63 Total non-current liabilities - 515,783.63 515,783.63
Intangible assets Total liabilities 211,570,057.13 212,373,840.76 803,783.63
R&D expense Owners’ equity:
Goodwill Share capital 185,391,680.00 185,391,680.00
Long-term deferred
641,932.25 641,932.25 Other equity instruments
expenses
Deferred income tax assets 3,961,079.97 3,961,079.97 Of which: Preference shares
Other non-current assets Perpetual bonds
Total non-current assets 953,866,446.23 954,670,229.86 803,783.63 Capital reserves 271,490,289.82 271,490,289.82
Less: Treasury stock
Other composite income
Special reserves
Surplus reserves 49,087,662.68 49,087,662.68
Retained profit 251,605,397.88 251,605,397.88
Total owners’ equity 757,575,030.38 757,575,030.38
Total assets 969,145,087.51 969,948,871.14 803,783.63 Total liabilities and owners’ equity 969,145,087.51 969,948,871.14 803,783.63
Note: The new standards governing leases are implemented in 2021. As for all leases excluding short-term leases and low-value assets leases, the use
rights assets and lease liabilities thereof shall be recognized, meanwhile, the amount of lease liabilities due within one year shall be reclassified into the
item of non-current liabilities due within one year.
2. Retrospective restatement of previous comparative data due to the first execution of the New Standards Governing Leases in since 2021
□ Applicable √ Not applicable
III Auditor’s report
Is this Report audited?
□ Yes √ No
This Report is not audited.
30