Hefei Meiling Co., Ltd. The First Quarterly Report 2012 (Full Text)
Hefei Meiling Co., Ltd.
The First Quarterly Report 2012
(Full Text)
§1. Important Notes
1.1 Board of Directors and the Supervisory Committee of Hefei Meiling Co., Ltd. (hereinafter
referred to as the Company) and its directors, supervisors and senior executives hereby confirm that
there are no any fictitious statements, misleading statements, or important omissions carried in this
report, and shall take all responsibilities, individual and/or joint, for the reality, accuracy and
completion of the whole contents.
1.2 The First Quarterly Financial Report of 2012 has not been audited by CPAs.
1.3 Chairman of the Board Mr. Liu Tibin, President Mr. Wang Yong, Deputy President Mr. Yu
Wangchun and Person in Charge of Accounting Works Mr. Tang Bin hereby confirm that the
Financial Report hereby confirm that the Financial Report of the First Quarterly Report is true and
complete.
§2. Company Profile
2.1 Main accounting highlights and financial indexes:
Unit: RMB
Changes of
At the end of the At the period-end of
increase/decrease
report period the last year
(%)
Total assets (RMB) 7,713,392,031.27 7,602,563,620.91 1.46%
Owners’ equity attributable to
shareholders of the listed company 2,830,834,119.06 2,796,317,375.44 1.23%
(RMB)
Total share capital (Share) 636,449,338.00 636,449,338.00 0.00%
Net asset per share attributable to
shareholders of listed company 4.45 4.39 1.37%
(RMB/Share)
Changes of
The same period of
In the report period increase/decrease
last year
(%)
Total operating income (RMB) 2,295,111,500.70 2,214,478,744.14 3.64%
Net profit attributable to
shareholders of the listed company 34,607,026.34 38,110,507.07 -9.19%
(RMB)
Net cash flow arising from operating
-131,391,287.31 -420,571,347.68 68.76%
activities (RMB)
Net cash flow arising from operating
-0.21 -0.79 73.42%
activities per share (RMB/Share)
Basic earnings per share
0.0544 0.0719 -24.34%
(RMB/Share)
Diluted earnings per share
0.0544 0.0719 -24.34%
(RMB/Share)
Weighted average return on equity
1.23% 1.39% -0.16%
(%)
Weighted average return on equity
after deducting non-recurring gains 1.17% 1.34% -0.17%
and losses (%)
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Hefei Meiling Co., Ltd. The First Quarterly Report 2012 (Full Text)
Note: the profit distribution plan of 2010 was implemented in August of 2011; total share capital
of the Company increased to 636,449,338 shares from 530,374,449, therefore, total share capital
calculated for this period based on 636,449,338 shares while same period of last year based on
530,374,449 shares.
Items of non-recurring gains and losses
√ Applicable □ Inapplicable
Unit: RMB
Amount from year-begin Remarks (If
Items of non-recurring gains and losses
to period-end applicable)
Gains and losses from the disposal of non-current
-448,903.92
assets
Governmental subsidy reckoned into current gains
and losses, but closely relevant to the Company’s
business except for the governmental subsidy 2,212,802.13
enjoyed in quota or ration according to the national
general standards
Other non-operating income and expenditure except
21,991.15
for the aforementioned items
Influenced amount of minority shareholders’ equity -33,064.44
Influenced amount of income tax -102,402.54
Total 1,650,422.38 -
2.2 Total number of shareholders at the end of the report period and shares held by the top
ten shareholders with unrestricted conditions
Unit: Share
Total number of shareholders
66,500
at the end of report period
Particulars about the shares held by the top ten tradable shareholders with unrestricted conditions
Amount of tradable shares with
Full name of shareholder unrestricted conditions held at Type of shares
the end of report period
Sichuan Changhong Electric Co.,
90,664,342 RMB common share
Ltd
Hefei Xingtai Holding Group Co.,
39,251,671 RMB common share
Ltd
Dragon Life －Universal insurance
24,000,000 RMB common share
product
Changhong (Hong Kong) Trade Co.,
20,971,519 Domestically listed foreign share
Ltd.
GUOTAI JUNAN
SECURITIES(HONGKONG) 13,716,869 Domestically listed foreign share
LIMITED
Guotai Junan Securities Co., Ltd. 12,000,000 RMB common share
Ningbo Weichuang Union
10,800,000 RMB common share
Investment Co., Ltd.
Founder Securities Co., Ltd. 10,800,000 RMB common share
Donghai Securities Co., Ltd. 10,800,000 RMB common share
CAO SHENGCHUN 10,429,906 Domestically listed foreign share
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Hefei Meiling Co., Ltd. The First Quarterly Report 2012 (Full Text)
§3. Significant Events
3.1 Particulars about material changes in items of main accounting statement and financial
index, and explanations of reasons
√Applicable □Inapplicable
3.1.1 Changes and reasons of items in balance sheet
Unit: RMB
Balance at Balance at Changes
Item Reasons of changes.
period-end year-begin ratio
Staff remuneration and annual bonus
Wages
76,414,695.13 109,562,805.25 -30.25% of December, withdrawal for year of
payable
2011, was distributed.
Taxes
126,553,840.63 73,939,903.98 71.16% Postponement payment of taxes.
payable
3.1.2 Changes and reasons of items in profit statement
Unit: RMB
Amount at
Amount at this Changes
Item same period Reasons of changes.
period ratio
of last year
Business tax
6,779,869.41 4,629,805.23 46.44% Taxes increased due to sales expansion.
and surcharge
Subordinate marketing division of former
parent company reorganized as
Administrative independent joint-venture in April 2011;
83,538,395.24 62,144,428.52 34.43%
expenses part of the expense calculated in sales
expenses was calculated in administrative
expense for this period.
Increased of interest from time deposit of
Financial fund raised, as well as gains/losses of
-23,224,251.62 -7,006,958.93 -231.45%
expenses exchange and cash discount obtained
from suppliers.
Assets The bad debt provision withdrawal and
impairment 9,435,721.68 2,024,454.30 366.09% inventory depreciation provision
losses increased.
Investment
Decrease of equity invested in
income(loss is -383,521.48 235,864.47 -262.60%
joint-ventures and affiliated enterprises.
listed with “-“)
3.1.3 Changes and reasons of items in cash flow statement
Unit: RMB
Amount at
Amount at this Changes
Item same period of Reasons of changes
period ratio
last year
Cash received
Sales income gains a sustainable growth
from selling
1,390,920,733.09 972,106,840.66 43.08% in this period; settlement of exchange
goods and for note receivable undue.
labor provided
Cash paid for
other Cash paid for sales expense decreased in
140,966,582.38 245,548,289.60 -42.59%
operation this period.
activities
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Hefei Meiling Co., Ltd. The First Quarterly Report 2012 (Full Text)
Cash received Cash dividend allocated from property
from exchange of Hefei Technology, stock
- 514,300.00 -100.00%
investment jointly company of the Company, in
income same period of last year.
Net cash
received from
disposal of
fixed assets,
Disposal of assets decreased in this
intangible 557,803.00 1,112,104.15. -49.84%
period.
assets and
other
long-term
assets
Cash paid for
purchasing
fixed assets, Increase of investment on project of
intangible production base of Athena Luxury
50,796,274.87 36,146,666.52 40.53%
assets and Refrigerator and capacity expansion for
other ice box.
long-term
assets
Cash received
No new subsidiary was invested in this
by absorbing - 30,191,000.00 -100.00%
period.
investment
Cash paid for Bank loans paid expired reduced in this
11,000,000.00 42,048,951.80 -73.84%
debt period.
Cash paid for
dividend/profit
Loan interest paid in this period
distributed or 1,916,677.69 2,900,223.66 -33.91%
decreased.
interest
payment
Influence of
cash and cash
equivalent Changes of foreign exchange rate in
3,192,615.43. 1,233,015.43. 158.93%
from changes report period.
of foreign
exchange rate
3.2 Analysis and explanation of significant events and their influence and solutions
3.2.1 Particular about Qualified Opinion
□Applicable √Inapplicable
3.2.2 Particular about fund offered to shareholder or its related parties by the Company and
external guarantee with procedure violation
□Applicable √Inapplicable
3.2.3 Particular about the significant contract of routine operation signed and implemented
□Applicable √Inapplicable
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Hefei Meiling Co., Ltd. The First Quarterly Report 2012 (Full Text)
3.2.4 Other
√Applicable □Inapplicable
1. Particular about process of the fund raised and investment of fund raised in the report
period
Privately A-stock offering of the Company was implemented in 2010, raised capital totally
amounting to RMB 1,199,999,820, net raised capital of RMB 1,177,954,320 after deducted RMB
22,045,500 issuing expense (including RMB 20,500,000 underwriting fee and sponsor charge).
For purpose of improving the utilization of raising fund, reduced the financial expenses, lower
the operational cost and under the premise of ensure the capital requirement for investment project,
temporary supplementation of circulating capital from partial idle raising fund has been deliberated
and approved by 7th Meeting of 7th Session of the Board, the 4th Meeting of 7th Session of supervisory
committee and 5th extraordinary shareholders general meeting of 2011, and recognized by
independent director and sponsor institution. Partial raising fund was consented for temporary
supplementation for circulating capital, amount of RMB 400 million within 6 months since the date
of approval day from Shareholders’ General Meeting, which is from 21 December 2011 to 21 June
2012. Raised fund are utilized by the Company by regulations and decision-making rules till recently.
Ended as 31st March 2012, funds used for project of fund raised totally amounting to RMB
558,104,962. Besides, idle raised fund temporary for current capital supplementation was RMB 187
million. Balance of raised fund of the Company was RMB 633,867,484(including interest RMB
14,018,126 and RMB 187 million,supplemented current capital of the Company temporary).
Investment of raised fund project RMB 558,104,962 including: RMB 243,929,740 invested in
production base of Athena luxury refrigerator; RMB 166,116,077 invested in capacity expansion of
ice box; RMB 110,091,034 invested in capacity expansion of environmentally refrigerator(including
saving interest RMB 91,034); RMB 37,968,111 used for current capital supplementation
temporary(including saving interest RMB 13,791).
Ended as 31st March 2012, first phase of production base of Athena luxury refrigerator
completed its main plant, part of the production equipment finished installment and debugging and is
in a trial production recently, first phase will expected to put into production in June of 2012; first
phase of capacity expansion for ice box has put into production in January 2011 with favorable
running condition; production line for second phase of this project is on process and expected to put
into production at end of October 2012; project of capacity expansion for environmentally
refrigerator has put into production and with a favorable running condition in report period.
2. Un-lock of part of restricted shares of privately offering of A-stock for year of 2010
On 11 January 2012, part of the A-stock, privately offering for year of 2010, was released.
Totally 7 shareholders un-lock the sales (excluding shares subscribed by Sichuan Changhong Electric
Co., Ltd., controlling shareholder of the Company), totally 93,385,200 shares are released for sales, a
14.67% in total share capital of the Company.
More details found in notice of No.: 2012-001 released on appointed media dated 10 January
2012.
3. Increasing of shareholding by controlling shareholders
On 16 January 2012, the Letter of increasing of shareholding was received by the Company
from Sichuan Changhong Electric Co., Ltd. (“Sichuan Changhong”), controlling shareholder of the
Company. Based on confidence of future development of the Company, totally shares of the
Company 1,664,541 shares were increased for held by Sichuan Changhong and its subordinate
wholly-owed subsidiary Changhong (Hong Kong) Trade Co., Ltd (“HK Changhong”) with a 0.26%
in total share capital of the Company occupied by exchange system of Shenzhen Stock Exchange
from 26 December 2011 to 13 January 2012. Sichuan Changhong increased shareholding 1,274,000
shares of circulated A-stock of the Company by exchange system of Shenzhen Stock Exchange dated
13 January 2012, a 0.20% in total share capital of the Company; HK Changhong increased
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Hefei Meiling Co., Ltd. The First Quarterly Report 2012 (Full Text)
shareholding 390,541 shares of circulated B-stock of the Company by exchange system of Shenzhen
Stock Exchange from 26 December 2011 to 13 January 2012, a 0.06% in total share capital of the
Company.
Ended as 31st March 2012, shares of the Company 158,328,461 shares were held by Sichuan
Changhong and its person acting in concert HK Changhong in total with 24.88% in total share capital
of the Company; Sichuan Changhong held 137,356,942 A-stock of the Company directly with
21.58% in total share capital while HK Changhong held 20,971,519 circulated B-stock of the
Company with 3.30% in total share capital of the Company.
More details found in notice of No.: 2012-002 released on appointed media dated 17 January
2012.
4. the fifth batch of release of circulated shares with restricted condition after
implementation of share merger reform
The fifth batch of restricted circulated shares after implementation of share merger reform was
released for trading on 30 March 2012. Shares with restriction released for this time has 5
shareholders, totally 607,846 shares release for sales, a 0.0955% in total share capital of the
Company.
More details found in notice of No.: 2012-011 released on appointed media dated 28 March
2012.
5. “Implementation plan of internal control regulations”
The “Implementation plan of internal control regulations” for year of 2012 was deliberated and
approved in 11th Meeting of 7th Session of the Board.
More details found in notice of No.: 2012-012 and “Implementation plan of internal control
regulations” released on appointed media dated 31 March 2012.
6. Relevant lawsuits and arbitration
Based on the principle of unify usage and integrated management on the trademark and trade
name of “Meiling”, the Company checking and inspecting the situation, left over by history reasons,
of trademark and trade name authorized externally from Hefei Meiling Holding Group (“Meiling
Group”) before acquisition. Progress of lawsuit and arbitration with “Meiling” involved ended as this
report period are as:
(1) Subordinate subsidiary of the Company Meiling Group charge Hefei Meiling Small
Appliance Co., Ltd. for agreement termination signed originally “Agreement of Trademark
Licensing”. Meiling Group secondly appeal to High People’s court of Anhui Province, recently the
case open a court session and waiting for the ruling.
(2) Case of agreement termination signed originally “Agreement of Trademark Licensing”
between Meiling Group and Hefei Meiling Communication Technology Co., Ltd and Hefei Meiling
Cabinet Appliance Co., Ltd, and compensation suit has been applied for attribution. Recently the case
open a court session and waiting for the ruling from Hefei Attribution Committee.
3.3 Implementations of commitments by the Company, shareholders and actual controller
Commitments make within the report period or persisted to the period by listed company and its
director, supervisor and senior executives, shareholder with over 5 percent shares held and its actual
controller
√Applicable □Inapplicable
Item of Commitments Promisee Content of commitments Implementation
Commitments made in
Strictly
Acquisition Report or Sichuan Commitment on avoid competitions in the
performed the
Reports on Change in Changhong same industry.
commitments
Interests
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Hefei Meiling Co., Ltd. The First Quarterly Report 2012 (Full Text)
1. Reduce, avoidance and standardized the
horizontal competition and related
transaction; leasing the land and house to
Changhong Air Conditioner for a long period
and transfer the land and house to
Changhong Air Conditioner after the assets
property certificate have been done; Strictly
Commitments made in Sichuan
supervise and urge the Sichuan Changhong performed the
privately offering Changhong
Minsheng Logistic Co., Ltd., the subsidiary, commitments
to lease its land and houses to Mianyang
Meiling for a long period and transfer the
land and house to Mianyang Meiling after the
assets property certificate have been done.
2. The lock-up period for the shares acquired
will be 36 months.
Published the regular notice, information
with significant influence and clarification
etc. in way of true, accuracy, completion,
Strictly
Commitments made in The fairness and timely; no share trading of the
performed the
privately offering Company Company directly/indirectly in way of sharp
commitments
practice by insider information obtained from
the Board, Supervisory Committee and
Senior executives.
Strictly
Commitments made in The Transfer the state-owned property of Meiling
performed the
assets acquisition Company Group.
commitments
Use in the production related with main
operational by regulation; return the payment
Commitments made in
timely; do no affects on the normal process Strictly
the current capital The
of investment projects from the raised fund performed the
supplementation from Company
and change no use purpose of the fund; commitments
partial idle raised fund
performed no securities investment and risk
investment.
Other commitments Strictly
Sichuan Transfer of the assets property of air
(including additional performed the
Changhong conditioner.
commitments) commitments
3.4 Estimation of accumulative net profit from the beginning of the year to the end of next
report period to be loss probably or the warning of its material change compared with the
corresponding period of the last year and explanation of reason
□Applicable √Inapplicable
3.5 Other significant events which need explanations
3.5.1 Particulars about securities investment
□Applicable √Inapplicable
3.5.2 Registration form for receiving research, communication and interview in the report
period
Type of Contents discussed and
Date Place Method Investor
investors materials supplied
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Hefei Meiling Co., Ltd. The First Quarterly Report 2012 (Full Text)
Conference Guotai Fund Business production
Telephone
2012-01-13 room of the Institution Management status of the Company,
communication
company Co., ltd. no material required
Conference Bosera Assets Business production
Spot
2012-02-06 room of the Institution Management status of the Company,
investigation
company Co.,ltd. no material required
3.6 Particulars about derivatives investment
□Applicable √Inapplicable
3.6.1 Particulars about derivatives investment held at the end of report period
□Applicable √Inapplicable
§4. Appendix
4.1 Balance sheet
Prepared by Hefei Meiling Co., Ltd. March 31, 2012 Unit: RMB
Balance at period-end Balance at year-begin
Items
Consolidation Parent Company Consolidation Parent Company
Current assets:
Monetary funds 1,222,990,767.65 821,955,761.30 1,401,674,679.41 1,045,235,918.61
Settlement
provisions
Capital lent
Transaction finance
asset
Notes receivable 1,791,475,573.00 1,285,551,005.75 1,523,729,827.01 1,338,813,802.92
Accounts receivable 727,652,758.97 509,399,163.55 571,218,022.80 402,230,488.74
Accounts paid in
193,001,561.90 490,205,758.10 237,494,745.03 253,040,962.58
advance
Insurance receivable
Reinsurance
receivables
Contract reserve of
reinsurance receivable
Interest receivable
Dividend receivable
Other receivables 50,370,645.51 51,630,886.17 41,508,227.47 48,509,875.77
Purchase restituted
finance asset
Inventories 1,738,110,392.50 879,425,022.91 1,860,605,286.96 990,284,586.85
Non-current asset
due within one year
Other current assets
Total current assets 5,723,601,699.53 4,038,167,597.78 5,636,230,788.68 4,078,115,635.47
Non-current assets:
Granted loans and
advances
8
Hefei Meiling Co., Ltd. The First Quarterly Report 2012 (Full Text)
Finance asset
available for sales
Held-to-maturity
investment
Long-term account
receivable
Long-term equity
36,526,937.14 841,484,712.78 36,910,458.62 841,422,384.33
investment
Investment property 17,116,396.42 13,582,986.50 17,318,541.96 13,701,458.68
Fixed assets 923,234,379.48 675,819,826.28 935,910,604.45 687,515,150.24
Construction in
243,499,289.52 219,390,177.67 204,053,321.44 191,737,347.16
progress
Engineering
material
Disposal of fixed
asset
Productive
biological asset
Oil and gas asset
Intangible assets 641,753,653.73 494,905,839.10 648,660,218.36 501,028,725.80
Expense on
Research and 27,695,074.67 25,167,492.74
Development
Goodwill 5,529,842.09 5,529,842.09
Long-term expenses
to be apportioned
Deferred income tax
94,434,758.69 70,424,987.21 92,782,352.57 69,532,232.71
asset
Other non-current
asset
Total non-current asset 1,989,790,331.74 2,315,608,529.54 1,966,332,832.23 2,304,937,298.92
Total assets 7,713,392,031.27 6,353,776,127.32 7,602,563,620.91 6,383,052,934.39
Current liabilities:
Short-term loans 142,509,065.89 120,000,000.00 144,000,000.00 120,000,000.00
Loan from central
bank
Absorbing deposit
and interbank deposit
Capital borrowed
Transaction
financial liabilities
Notes payable 1,094,558,422.58 799,451,012.20 1,191,929,934.59 858,879,727.69
Accounts payable 1,658,860,189.23 1,378,195,569.70 1,598,851,420.62 1,271,155,333.03
Accounts received
654,388,145.43 156,340,974.75 703,404,091.67 277,848,104.26
in advance
Selling financial
asset of repurchase
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Hefei Meiling Co., Ltd. The First Quarterly Report 2012 (Full Text)
Commission charge
and commission payable
Wage payable 76,414,695.13 61,440,309.08 109,562,805.25 80,821,797.09
Taxes payable 126,553,840.63 103,418,169.45 73,939,903.98 81,559,342.02
Interest payable
Dividend payable 1,510,068.01 1,510,068.01 1,524,379.01 1,524,379.01
Other accounts
647,411,610.19 380,656,112.91 518,444,925.03 400,789,644.51
payable
Reinsurance
payables
Insurance contract
reserve
Security trading of
agency
Security sales of
agency
Non-current
liabilities due within 1 2,454,608.52 2,454,608.52 2,452,094.16 2,452,094.16
year
Other current
liabilities
Total current liabilities 4,404,660,645.61 3,003,466,824.62 4,344,109,554.31 3,095,030,421.77
Non-current liabilities:
Long-term loans 12,705,500.00 12,705,500.00 12,705,500.00 12,705,500.00
Bonds payable
Long-term account
payable
Special accounts
17,875,696.46 0.00 18,494,978.80 0.00
payable
Accrual liabilities 332,154,591.67 332,154,591.67 315,699,502.43 315,699,502.43
Deferred income tax
liabilities
Other non-current
56,702,276.59 56,638,676.59 57,318,443.08 57,254,843.08
liabilities
Total non-current
419,438,064.72 401,498,768.26 404,218,424.31 385,659,845.51
liabilities
Total liabilities 4,824,098,710.33 3,404,965,592.88 4,748,327,978.62 3,480,690,267.28
Owner’s equity (or
shareholders’ equity):
Paid-in capital (or
636,449,338.00 636,449,338.00 636,449,338.00 636,449,338.00
share capital)
Capital public
1,609,999,547.27 1,625,315,350.37 1,609,999,547.27 1,625,315,350.37
reserve
Less: Inventory
shares
Reasonable reserve
Surplus public 299,625,924.94 299,407,759.26 299,625,924.94 299,407,759.26
10
Hefei Meiling Co., Ltd. The First Quarterly Report 2012 (Full Text)
reserve
Provision of general
risk
Retained profit 285,350,698.58 387,638,086.81 250,743,672.24 341,190,219.48
Balance difference
of foreign currency -591,389.73 -501,107.01
translation
Total owner’s equity
attributable to parent 2,830,834,119.06 2,948,810,534.44 2,796,317,375.44 2,902,362,667.11
company
Minority interests 58,459,201.88 57,918,266.85
Total owner’s equity 2,889,293,320.94 2,948,810,534.44 2,854,235,642.29 2,902,362,667.11
Total liabilities and
7,713,392,031.27 6,353,776,127.32 7,602,563,620.91 6,383,052,934.39
owner’s equity
4.2 Profit statement
Prepared by Hefei Meiling Co., Ltd. Jan.-Mar. 2012 Unit: RMB
Amount in this period Amount in last period
Items
Consolidation Parent Company Consolidation Parent Company
I. Total operating income 2,295,111,500.70 1,397,547,537.71 2,214,478,744.14 1,673,770,903.51
Including: Operating
2,295,111,500.70 1,397,547,537.71 2,214,478,744.14 1,673,770,903.51
income
Interest income
Insurance gained
Commission charge
and commission income
II. Total operating cost 2,249,394,271.33 1,341,115,836.98 2,168,166,929.49 1,614,878,599.57
Including: Operating cost 1,776,374,196.54 1,216,817,422.17 1,755,361,265.07 1,289,604,447.57
Interest expense
Commission charge
and commission expense
Cash surrender
value
Net amount of
expense of compensation
Net amount of
withdrawal of insurance
contract reserve
Bonus expense of
guarantee slip
Reinsurance
expense
Operating tax and
6,779,869.41 3,636,826.24 4,629,805.23 3,803,643.47
extras
Sales expenses 396,490,340.08 102,877,657.98 351,013,935.30 292,054,356.21
Administration
83,538,395.24 46,198,636.42 62,144,428.52 40,675,854.27
expenses
11
Hefei Meiling Co., Ltd. The First Quarterly Report 2012 (Full Text)
Financial expenses -23,224,251.62 -20,606,542.37 -7,006,958.93 -9,075,240.76
Losses of
9,435,721.68 -7,808,163.46 2,024,454.30 -2,184,461.19
devaluation of asset
Add: Changing
income of fair value(Loss
is listed with “-”)
Investment income
-383,521.48 62,328.45 235,864.47
(Loss is listed with “-”)
Including:
Investment income on
-383,521.48 62,328.45
affiliated company and
joint venture
Exchange income
(Loss is listed with “-”)
III. Operating profit
45,333,707.89 56,494,029.18 46,547,679.12 58,892,303.94
(Loss is listed with “-”)
Add: Non-operating
2,376,415.27 1,303,861.13 2,303,381.36 1,755,648.51
income
Less: Non-operating
590,525.91 470,558.33 580,846.90 445,943.71
expense
Including: Disposal
471,937.41 470,558.33 446,994.83 445,943.71
loss of non-current asset
IV. Total Profit (Loss is
47,119,597.25 57,327,331.98 48,270,213.58 60,202,008.74
listed with “-”)
Less: Income tax 11,911,447.40 10,879,464.65 9,519,588.87 9,557,949.38
V. Net profit (Net loss is
35,208,149.85 46,447,867.33 38,750,624.71 50,644,059.36
listed with “-”)
Net profit
attributable to owner’s 34,607,026.34 46,447,867.33 38,110,507.07 50,644,059.36
equity of parent company
Minority
shareholders’ gains and 601,123.51 640,117.64
losses
VI. Earnings per share
i. Basic earnings per
0.0544 0.0730 0.0719 0.0955
share
ii. Diluted earnings per
0.0544 0.0730 0.0719 0.0955
share
VII. Other consolidated
-150,471.20
income
VIII. Total consolidated
35,057,678.65 46,447,867.33 38,750,624.71 50,644,059.36
income
Total consolidated
income attributable to
34,516,743.62 46,447,867.33 38,110,507.07 50,644,059.36
owners of parent
company
Total consolidated
income attributable to 540,935.03 640,117.64
minority shareholders
12
Hefei Meiling Co., Ltd. The First Quarterly Report 2012 (Full Text)
Concerning the enterprise consolidation under common control occurred in the period; the mergered
party realized net profit before consolidation amounting to RMB00.00.
4.3 Cash flow statement
Prepared by Hefei Meiling Co., Ltd. Jan.-Mar. 2012 Unit: RMB
Amount in this period Amount in last period
Items
Consolidation Parent Company Consolidation Parent Company
I. Cash flows arising
from operating activities:
Cash received from
selling commodities and 1,390,920,733.09 1,039,414,237.50 972,106,840.66 692,132,319.10
providing labor services
Net increase of
customer deposit and
interbank deposit
Net increase of loan
from central bank
Net increase of
capital borrowed from
other financial institution
Cash received from
original insurance
contract fee
Net cash received
from reinsurance
business
Net increase of
insured savings and
investment
Net increase of
disposal of transaction
financial asset
Cash received from
interest, commission
charge and commission
Net increase of
capital borrowed
Net increase of
returned business capital
Write-back of tax
13,744,120.64 13,354,107.09 16,322,359.55 6,106,556.57
received
Other cash received
concerning operating 4,733,910.95 406,351.37 5,537,314.80 2,249,189.45
activities
Subtotal of cash
inflow arising from 1,409,398,764.68 1,053,174,695.96 993,966,515.01 700,488,065.12
operating activities
Cash paid for
1,170,601,469.32 1,065,929,384.89 971,309,670.22 773,811,180.94
purchasing commodities
13
Hefei Meiling Co., Ltd. The First Quarterly Report 2012 (Full Text)
and receiving labor
service
Net increase of
customer loans and
advances
Net increase of
deposits in central bank
and interbank
Cash paid for
original insurance
contract compensation
Cash paid for
interest, commission
charge and commission
Cash paid for bonus
of guarantee slip
Cash paid to/for
176,132,186.73 86,635,481.81 153,323,013.85 97,348,049.20
staff and workers
Taxes paid 53,089,813.56 32,916,050.67 44,356,889.02 35,429,887.25
Other cash paid
concerning operating 140,966,582.38 50,423,248.32 245,548,289.60 175,060,677.54
activities
Subtotal of cash
outflow arising from 1,540,790,051.99 1,235,904,165.69 1,414,537,862.69 1,081,649,794.93
operating activities
Net cash flows
arising from operating -131,391,287.31 -182,729,469.73 -420,571,347.68 -381,161,729.81
activities
II. Cash flows arising
from investing activities:
Cash received from
-50,000.00
recovering investment
Cash received from
514,300.00 514,300.00
investment income
Net cash received
from disposal of fixed,
557,803.00 475,073.00 1,112,104.15 1,112,104.15
intangible and other
long-term assets
Net cash received
from disposal of
subsidiaries and other
units
Other cash received
concerning investing 3,266,905.75 1,976,936.35 3,506,000.97 4,038,585.40
activities
Subtotal of cash
inflow from investing 3,774,708.75 2,452,009.35 5,132,405.12 5,664,989.55
activities
Cash paid for 50,796,274.87 33,908,559.70 36,146,666.52 34,761,129.64
14
Hefei Meiling Co., Ltd. The First Quarterly Report 2012 (Full Text)
purchasing fixed,
intangible and other
long-term assets
Cash paid for
-8,964,000.00 50,000,000.00
investment
Net increase of
mortgaged loans
Net cash received
from subsidiaries and 931,220.72
other units
Other cash paid
concerning investing 63,443.51 38,875,000.00
activities
Subtotal of cash
outflow from investing 50,859,718.38 33,908,559.70 28,113,887.24 123,636,129.64
activities
Net cash flows
arising from investing -47,085,009.63 -31,456,550.35 -22,981,482.12 -117,971,140.09
activities
III. Cash flows arising
from financing activities
Cash received from
30,191,000.00
absorbing investment
Including: Cash
received from absorbing
minority shareholders’
investment by
subsidiaries
Cash received from
9,517,752.79
loans
Cash received from
issuing bonds
Other cash received
concerning financing 5,000,000.00
activities
Subtotal of cash
inflow from financing 9,517,752.79 30,191,000.00 5,000,000.00
activities
Cash paid for
11,000,000.00 42,048,951.80 30,000,000.00
settling debts
Cash paid for
dividend and profit
1,916,677.69 1,454,021.87 2,900,223.66 2,120,745.67
distributing or interest
paying
Including: Dividend
and profit of minority
shareholder paid by
subsidiaries
Other cash paid 1,305.35 10,000,000.00 72,745,443.61
15
Hefei Meiling Co., Ltd. The First Quarterly Report 2012 (Full Text)
concerning financing
activities
Subtotal of cash
outflow from financing 12,917,983.04 11,454,021.87 44,949,175.46 104,866,189.28
activities
Net cash flows
arising from financing -3,400,230.25 -11,454,021.87 -14,758,175.46 -99,866,189.28
activities
IV. Influence on cash and
cash equivalents due to
3,192,615.43 2,359,884.64 1,233,015.43 1,453,557.42
fluctuation in exchange
rate
V. Net increase of cash
-178,683,911.76 -223,280,157.31 -457,077,989.83 -597,545,501.76
and cash equivalents
Add: Balance of
cash and cash equivalents 1,401,674,679.41 1,045,235,918.61 1,986,440,504.29 1,798,742,365.37
at the period -begin
VI. Balance of cash and
cash equivalents at the 1,222,990,767.65 821,955,761.30 1,529,362,514.46 1,201,196,863.61
period -end
4.4 Auditor’ report
Auditor’s opinions: Un-audited
Chairman: Liu Tibin
Board of Director of
Hefei Meiling Co., Ltd.
21 April 2012
16
