Hefei Meiling Co., Ltd. The Third Quarterly Report for 2012(Full Text)
HEFEI MEILING CO., LTD.
THE THIRD QUARTERLY REPORT FOR 2012
(FULL TEXT)
I. Important Notes
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.
All directors of the Company are attended the Meeting for quarterly report deliberation.
The third quarterly report for 2012 is unaudited.
Principal of the Company Mr. Liu Tibin, President Mr. Wang Yong, Person in Charge of
Accounting Works Mr. Yu Wanchun and Person in Charge of Accounting Organ (Accounting
Officer) Mr. Tang Bin hereby confirm that the Financial Report of the Third Quarterly Report is true
and complete.
II. Company Profile
(I) Major accounting data and financial indexes
Whether retroactive adjusted on previous financial report or not
□Yes √ No □Not applicable
Increase/decrease in this
2012.9.30 2011.12.31 period-end over period-end of last
year (%)
Total assets (RMB) 8,194,771,036.77 7,602,563,620.91 7.79%
Owners’ equities attributable
to the shareholders of listed 2,914,987,897.48 2,796,317,375.44 4.24%
company (RMB)
Share capital (Share) 763,739,205.00 636,449,338.00 20.00%
Net assets per share
attributable to the
3.82 4.39 -12.98%
shareholders of listed
company (RMB/Share)
Increase/decrease over Increase/decrease over
January- September of
July- September of 2012 the same period of the the same period of the
2012
last year (%) last year (%)
Total operating income
2,237,682,987.81 13.72% 7,550,293,510.93 1.45%
(RMB)
Net profit attributable to the
shareholders of listed 40,197,529.33 727.28% 151,052,571.53 15.29%
company (RMB)
Net cash flow arising from
-- -- -40,699,742.85 94.03%
operating activities (RMB)
Net cash flow arising from
operating activities per share -- -- -0.05 95.33%
(RMB/Share)
Basic earnings per share
0.0526 592.11% 0.1978 -3.93%
(RMB/Share)
Diluted earnings per share
0.0526 592.11% 0.1978 -3.93%
(RMB/Share)
Weighted average return on
1.38% 1.21% 5.27% 0.54%
equity (%)
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Hefei Meiling Co., Ltd. The Third Quarterly Report for 2012(Full Text)
Weighted average return on
equity after deducting
1.13% 0.99% 5.04% 0.71%
non-recurring gains and losses
(%)
Note: the annual profit distribution plan for year of 2011 was implemented by the Company in August 2012, total share capital of
the Company increase to 763,739,205 shares from 636,449,338 shares after profit distribution. For the earnings per share and net
assets per share at same period of last year in above said statement, numerator refers to the total share capital 636,449,338 shares
before the 2011 annual profit distribution implemented; the above mention indexes at this period owes the numerator of total share
capital 763,739,205 shares after the 2011 annual profit distribution implemented.
Items and amount with non-recurring gains/losses deducted
√Applicable □ Not applicable
Amount from
Item year-begin to Note
period-end (RMB)
Gains and losses from disposal of non-current assets -5,087,746.94 -
Governmental subsidy calculated into current gains and
losses(while closely related with the normal business of the
Company, excluding the fixed-amount or fixed-proportion 11,715,874.01 -
governmental subsidy according to the unified national
standard)
Other non-operating income and expenditure except the
693,172.46 -
abovementioned
Influenced amount of minority shareholders’ equity -47,963.93 -
Impact on income tax -668,358.69 -
Total 6,604,976.91 --
Explanation on “Other item that satisfied the definition of non-recurring gains and losses” and defined
non-recurring gains and losses as recurring gain/loss according to natures and characteristic of self-operation
status
□Applicable √Not applicable
(II) Total shareholders at period-end and top ten shareholders
Total number of shareholders
65,533
at the end of report period
Particulars about the shares held by the top ten shareholders with unrestricted conditions
Amount of unrestricted shares Type/amount of shares
Shareholders
held at period-end Type Amount
Sichuan Changhong Electric
108,797,210 RMB common share 108,797,210
Co., Ltd.
Hefei Xingtai Holding Group
47,102,005 RMB common share 47,102,005
Co., Ltd.
Zhengde life insurance Co.,
LTD-universal insurance 28,800,000 RMB common share 28,800,000
products
Changhong (Hong Kong) Trade Domestically listed foreign
25,165,823 25,165,823
Co., Ltd. share
GUOTAI JUNAN
Domestically listed foreign
SECURITIES(HONGKONG) 16,457,603 16,457,603
share
LIMITED
Ningbo Wei Chuang Joint
12,960,000 RMB common share 12,960,000
Investment Co., Ltd.
Founder Securities Co., Ltd. 12,960,000 RMB common share 12,960,000
Donghai Securities Co., Ltd. 12,960,000 RMB common share 12,960,000
CAO SHENGCHUN 12,800,000 Domestically listed foreign 12,800,000
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Hefei Meiling Co., Ltd. The Third Quarterly Report for 2012(Full Text)
share
Domestically listed foreign
Long Qinfang 3,134,409 3,134,409
share
Explanation on associated relationship or accordant action among the aforesaid shareholders:
Among the above shareholders, Changhong (Hong Kong) Trading Co., Ltd. is the wholly-owned
subsidiary of Sichuan Changhong Electronic Co., Ltd.; there existed no associated relationship or
belong to the concerted actors as specified in the Measures for the Administration of Information
Disclosure of Shareholder Equity Changes of Listed Companies among Sichuan Changhong
Explanation on shareholders
Electronic Co., Ltd., Changhong (Hong Kong) Trading Co., Ltd. and other top 8 shareholders; and
top ten shareholders with unrestricted subscription; as the Company has not known whether there
exists any business relationship among the other shareholders with unrestricted subscription or
they belong to the concerted actors as specified in the Measures for the Administration of
Information Disclosure of Shareholder Equity Changes of Listed Companies.
III. Significant events
(I) Particulars about material changes in items of main accounting statement and financial
index, and explanations of reasons
√Applicable □Not applicable
1. Changes and reasons for the items in balance sheet Unit: RMB
Balance at Balance at Changes
Item Reasons
period-end year-begin ratio
Bank acceptance bill increased for busy sales
Note receivable 2,345,868,085.10 1,523,729,827.01 53.96%
season, and not due for collection
Account Receivables in credit period increased for the busy
896,406,779.28 571,218,022.80 56.93%
receivable sales season
Deposit paid for appliance-to-countryside
Other account
20,553,819.23 41,508,227.47 -50.48% previously was received and export rebate for VAT
receivable
received by Zhongshan Changhong
Construction in More investment in raised-fund project and
314,850,252.32 204,053,321.44 54.30%
progress projects are not completed
More development investment in air conditioner
Development
36,710,385.00 25,167,492.74 45.86% products from subsidiary Sichuan Changhong Air
expenditure
Conditioner Co., Ltd
Short-term Bank loans are paid by parent company in this
59,840,828.33 144,000,000.00 -58.44%
loans period
Account
Rapidly bill settlement for good-delivery in this
received in 429,525,697.16 703,404,091.67 -38.94%
period
advance
The year-end awards are paid in this period, thus
Wages payable 75,181,186.73 109,562,805.25 -31.38%
the payable wages decreased
Other account More sales expenses occurred in peak season
960,760,909.35 518,444,925.03 85.32%
payable without payment
Non-current
Long-term loans due within 1 year increased from
liability due 3,405,507.92 2,452,094.16 38.88%
parent company in this period
within 1 year
More bank loans for parent company occurred in
Long-term loans 131,114,600.00 12,705,500.00 931.95%
this period
The redecoration of staff dormitory was completed
and transfer to fixed assets, which used the land
Special payable - 18,494,978.80 -100.00% compensation of original aged plant for
government land reserve from Jiangxi Meiling
Refrigerator Co., Ltd
Retained profit 369,973,776.87 250,743,672.24 47.55% Profit increased in this period
Balance
difference of Resulted by the foreign currency translation in
-933,400.14 -501,107.01 -86.27%
foreign currency foreign subsidiary
translation
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Hefei Meiling Co., Ltd. The Third Quarterly Report for 2012(Full Text)
2. Changes and reasons for the items in profit statement Unit: RMB
Amount in this Amount at same Changes
Item Reasons
period period of last year ratio
Business tax and More payable business tax and extra paid in this
64,999,503.81 29,734,833.85 118.60%
extra period
Financial
-49,773,966.57 -33,250,531.86 -49.69% Exchange gains increased in this period
expenses
The bad debt provision and inventory devaluation
Losses of provision withdrawal in this period increased,
devaluation of 42,035,123.93 9,529,505.74 341.10% based on Accounting Rules and accounting policy
asset of the Company together with actual situation of
receivable and inventory
Distributable dividend for year of 2011 from
stock-jointly bank – Huishang Bank Co., Ltd
Investment
80,274.04 2,257,469.01 -96.44% received by the Company in this period while
income
dividend for year of 2009 and 2010 were received
by the Company at same period last year
Non-operating The losses of write-off of fixed assets increased in
5,738,521.21 3,242,460.35 76.98%
expenditure this period
Disposal losses
of non-current 5,370,396.64 2,294,798.27 134.02% Same as “Non-operating expenditure”
assets
income tax
23,318,643.65 13,195,542.44 76.72% Payable income amount increased
expenses
3. Changes and reasons for the items in cash flow statement Unit: RMB
Amount in this Amount at same Changes
Item Reasons
period period of last year ratio
Other cash paid
concerning
429,151,777.23 629,570,934.47 -31.83% Items settled by cash decreased in this period
operating
activities
Investment recover at same period of last year
Cash received
from Hefei Technology Property Exchange by
from recovering - 1,000,000.00 -100.00%
parent company while no such business in this
investment
period
The distributed income to parent company from
Cash received
stock-jointly bank—Huishang Bank decreased in
from investment 1,073,757.30 3,921,480.54 -72.62%
this period; same as “Investment income” the
income
above mentioned
Net cash received At same period of last year, subsidiary Jiangxi
from disposal of Meiling Refrigerator Co., Ltd obtained land
fixed, intangible 10,508,917.59 81,152,480.73 -87.05% compensation for land reserved as the original
and other aged plan and no such business occurred in this
long-term assets period
Other cash
received
concerning 15,682,560.50 22,785,825.94 -31.17% Interest obtained in this period decreased
investing
activities
Cash paid for
purchasing fixed,
The fixed assets purchased in this period by parent
intangible and 112,886,554.15 164,884,385.79 -31.54%
company decreased
other long-term
assets
The investment capital paid to part of the jointly
Cash paid for market subsidiary from parent company in 2010
- -21,753,532.00 100.00% have not merger for off-set due to the
investment
un-completed business and commerce procedures;
the above mentioned market subsidiary have been
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Hefei Meiling Co., Ltd. The Third Quarterly Report for 2012(Full Text)
established at same period of last and the
investment capital mentioned above listed as
minors in consolidated statements while there no
such business in this period
At same period of last year, part of the equity of
Net cash received secondary joint-venture market
from subsidiaries - 978,687.97 -100.00% subsidiary—Chaohu Meiling Appliance Market
and other units Co., Ltd was transfer by the Company, and no
such business occurred in this period
Cash received Minority investment obtained by joint-venture
from absorbing - 35,926,000.00 -100.00% market subsidiary at same period of last year while
investment no such business occurred in this period
The import & export negotiation business and
Cash received bank loans increased from parent company and its
380,685,156.66 152,961,241.63 148.88%
from loans subsidiary Zhongshan Changhong Appliance Co.,
Ltd in this period
Due bank loans are paid by the parent company
Cash paid for
355,426,724.40 246,450,449.52 44.22% and its subsidiary Zhongshan Changhong in this
settling debts
period
(II) Progress of significant events, their influences, and analysis and explanation of their
solutions
1. Qualified opinion
□Applicable √Not applicable
2. Particular about fund offers to controlling shareholders or associated parties and external
guarantee that against the regulation.
□Applicable √ Not applicable
3. Particular about signing and implementation on significant contracts of ordinary
management.
□Applicable √ Not applicable
4. Other
√Applicable □Not applicable
(1) Usage of fund raised and projects with fund raised in report period
Total proceeds raised in privately offering in 2010 are RMB1,199,999,820.00 and the net
proceeds amount to RMB1,177,954,320.00 after deducted offering expenses RMB 22.0455 million
(including underwriting and sponsoring fee RMB 20.5 million).
Ended as 30 September 2012, totally raise fund RMB 742,047,724 used by the Company. In
addition, RMB 300 million are supplemented current capital temporary by using idle raised fund
(More details found in notice of No.: 2012-017, No.: 2012-019 and No.: 2012-025 disclosed on
appointed medial dated 26 May 2012 and 13 June respectively. Balance of the fund raised
amounting as RMB 463,043,647 (including deposit interest RMB 27,137,051 and RMB 300 million,
which was supplemented current capital temporary with idle funds)
The fund raised RMB 742,047,724 used by the Company including: RMB 418,974,744
invested in the production base of Athena luxury refrigerator; RMB 175,013,835 invested in
expansion of freezers in aspect of capacity; RMB 110,091,034 (including deposit interest RMB
91,034) invested in capacity expansion of environment protection and energy-saving refrigerators
and RMB 37,968,111 (including deposit interest RMB 13,791) supplemented current capital.
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Hefei Meiling Co., Ltd. The Third Quarterly Report for 2012(Full Text)
Up to the end of 30 September 2012, the 1st phase of capacity expansion for Athena luxury
refrigerator reached expected serviceable condition with full capacity of 1.2 million (double shifting)
Athena luxury refrigerators annually achieved. First stage of II phase has put into production with
full capacity of 400,000 (double shifting) Athena luxury refrigerators annually;
The 1st stage of capacity expansion for freezer had been constructed and formally put into
production in January 2011 with favorable running condition; the 1st stage of the 2nd phase of
project had been constructed and formally put into production in March 2012 with capacity of
400,000 (double shifting) freezers annually; the 2nd stage of Phase II started in July 2012 and will
put into operation in end of April 2013 by plan in accordance with refrigerators expansion plan; and
project of capacity expansion of environment protection and energy-saving refrigerators has put into
production with favorable running condition in this report period.
(2) Un-lock for restricted shares
On 11 January 2012, part of the restricted shares of privately A-share offering in 2010 was
un-lock, totally 7 shareholders were un-lock in this time. Un-lock shares amounting to 93,385,200
shares, a 14.67% in total share capital of the Company. More details found in notice of No.:
2012-001 disclosed on appointed medial dated 10 January 2012.
The 5th restricted circulating shares after implementation of share-split reform was un-lock for
trading dated 30 March 2012. Totally 5 shareholders are have shares released, un-lock shares
amounting to 607,846 shares, a 0.0955% in total share capital of the Company. More details found
in notice of No.: 2012-011 disclosed on appointed medial dated 28 March 2012.
(3) Increasing shareholding of the Company from controlling shareholder of the
Company
On 16 January 2012, the Company received a "Letter" about increased share holding from
shareholder Sichuan Changhong Electric Co., Ltd (“Sichuan Changhong”). Sichuan Changhong and
its wholly-owned subsidiary Changhong (Hong Kong) Trade Co., Ltd (“HK Changhong”) increase
the holding of shares through Shenzhen Stock Exchange Trading System between. Ending as 30
September 2012, Sichuan Changhong and Hong Kong Changhong hold 189,994,153 shares together,
which account for 24.88% of total including Sichuan Changhong holds 164,828,330 shares of A
Share, which is 21.58% of total, Hong Kong Changhong holds 25,165,823 shares of B Share, which
is 3.30% of total.
More details found in notice of No.: 2012-002 disclosed on appointed medial dated 17 January
2012.
(4) Engagement of deputy president for the Company
On 9 March 2012, Mr. Deng Xiaohui engaged as deputy president of the Company by Board.
More details found in notice of No.: 2012-005 disclosed on appointed medial dated 10 March
2012.
(5) “Working Plan of Implementation of Regulation for Internal Control” of the
Company
The “Working Plan of Implementation of Regulation for Internal Control” was deliberated and
approved by 11th Meeting of 7th Session of the Board dated 30 March 2012.
More details found in notice of No.: 2012-012 and “Working Plan of Implementation of
Regulation for Internal Control” disclosed on appointed medial dated 31 March 2012.
(6) Adjustment to cash dividend policy
In according to requirement of the Notice, namely Notice to Further Conduct Related Issues
about Cash Dividend issued by CSRC ZJF No. [2012] 37 and Transferred Notice to Further
Conduct Related Issues about Cash Dividend Issued by CSRC made by Anhui SRC (WZJHZ No
[2012] 140), on 1 June and 26 June of 2012, the Company respectively held the 14th meeting of the
7th session of Board of Directors and 2011 Annual Shareholders' Meeting which approved and
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Hefei Meiling Co., Ltd. The Third Quarterly Report for 2012(Full Text)
passed Proposal about Revision to Partial Terms of Article of Association and Proposal about
Revision to Partial Terms of Official Discussion Rules of Shareholders' Meeting. Thus we
completed the perfection and revision to terms about profit distribution shown in Article of
Association especially terms related to cash dividend.
More details found in notice of No.: 2012-021 and No.: 2012-026 disclosed on appointed
medial dated 2 June 2012 and 27 June respectively.
(7) Proposal of Appointment of auditing institution for internal control of the Company
On 1 June 2012 and June 26th, the 14th Meeting of 7th Session of Board and annual
shareholders' meeting in 2011 passed "On Employing Auditing Office of Internal Control" and
agreed to employ SHINEWING CPA Co., Ltd., as auditing office for company, the employment
was for a period of one year.
More details found in notice of No.: 2012-021 and No.: 2012-026 disclosed on appointed
medial dated 2 June 2012 and 27 June respectively.
(8) Profit distribution plan for year of 2011
The Plan of Profit Distribution for year of 2011, submitted by 10th meeting of 7th session of the
Board, was deliberated and approved in annual shareholders’ general meeting of 2011 dated 26 June
2012; and the above plan was implemented by the Company on 13 August 2012.
More details found in notice of No.: 2012-006, No.: 2012-026 and No.: 2012-030 disclosed on
appointed medial dated 20 March 2012, 27 June and 13 August respectively.
(9) Implementation of Annual Performance Stimulation Fund
The Implementation of Annual Performance Stimulation Fund of Hefei Meiling Co Ltd was
deliberated and approved in 16th meeting of 7th session of the Board and 2nd extraordinary
shareholders’ general meeting dated 9 August 2012 and 28 August 2012 respectively.
More details found in notice of No.: 2012-028 and No.: 2012-035 disclosed on appointed
medial dated 10 August 2012 and 29 August 2012 respectively.
(10) Other non-material lawsuits and arbitrations
Concerning detail of the case: a subsidiary Meiling Holding Group Co., Ltd. (“Meiling Group”)
sues Hefei Meiling Appliances Co., Ltd., to remove "the Agreement of Use of Trademark" which is
signed originally, more details found in the IV. of Section V. in “Semi-Annual Report of 2012” of
the Company
(III) Commitments made by the Company or shareholders holding above 5% shares of the
Company in reporting period or extending to reporting period.
The following events committed by related parties such as listed companies, directors, supervisors, senior
management, shareholders holding above 5% shares of the Company as well as actual controllers in reporting
period or extending to reporting period.
√Applicable □Not applicable
Commitment Commitment
Commitments Accepter Contents Implementation
date term
Withdrawal from
the horizontal
competition. More
Commitments in report of acquisition or Sichuan 2007-8-15 to
details found in 2007-6-12 Implemented
equity change Changhong 2010-8-15
No.: 2007-044
disclosed in June of
2007
Commitment of
reduce, avoidance
Strictly
Sichuan and standardized Effective
Privately issuance commitment 2010-6-24 performed the
Changhong the intertype permanently
commitments
competition and
related transaction
7
Hefei Meiling Co., Ltd. The Third Quarterly Report for 2012(Full Text)
The stock
purchased this time
owes 36 months
restriction period. 2011-1-10 to
2010-12-23
More details found 2014-1-10
in No.: 2011-001
disclosed in
January of 2011
Commitment of
long-term leasing
to Changhong Air
Conditioner with
land and houses
and after property
certificated Implementing
finished; supervise
and urge Sichuan
Changhong
Before
Minsheng leasing 2010-9-7
completed
the land and houses
to Mianyang
Meiling for
long-term leasing
and after finished
the property
certificated,
transfer land and
houses to
Mianyang Meiling
Authorized
Changhong Air
Conditioner and
Zhongshan Air Strictly
Effective
Conditioner use 2010-11-6 performed the
permanently
trademark commitments
“Changhong” and
relevant patent for
free in long period
Minsheng Logistic
will transfer the
Changhong
land and houses to
Minsheng Before
Mianyang Meiling 2010-9-7 Implementing
Logistic Co., completed
while the house
Ltd
property certificate
was completed
Disclosing the
periodic report,
major influence
information and
clarification notice
timely, truly,
accuracy,
completeness and
fairness; No misuse Strictly
Effective
The Company of the insider 2011-1-7 performed the
permanently
information and commitments
other
directly/indirectly
improper means on
the stock trading of
the Company by
Directors,
Supervisors and
Senior executives
8
Hefei Meiling Co., Ltd. The Third Quarterly Report for 2012(Full Text)
State-owned
property of
Meiling Group
transfer; More 2010-3-25 to
Commitments in assets acquisition The Company 2010-3-25 Implementing
details found in 2015-3-25
No.: 2010-013
disclosed in March
of 2010
Performing related
to the manufacture
operation of main
business; paid back
the amount on due;
No influence on the
Commitment on temporary normal process of
2012-6-12 to
supplementation of circulating capital from The Company investment project 2012-5-26 Implementing
2013-6-12
partial idle raising fund from raising fund,
no disguised
changes on capital
usage; no securities
investment and risk
investment
conducted
Commitment of
reduce, avoidance
Strictly
and standardized Effective
performed the
the intertype permanently
commitments
competition and
related transaction
Leasing the houses
to Changhong Air
Conditioner and
negotiated the
Other commitments(additional house property and Before
Implementing
commitments included): Assets property of land transfer with completed
Sichuan
air conditioner transfer; More details found Changhong Air 2009-12-10
Changhong
in No.: 2009-047 disclosed in December of Conditioner bases
2009 on operational
needs
Authorized
Changhong Air
Conditioner and
Zhongshan
2009-12-10 to
Changhong use Implementing
2012-12
trademarked
“Changhong” for
free in later three
years
Completed on time or not √Yes □No □Not applicable
Detail reasons for un-complement and
-
further plan
Whether made a promise to horizontal
competition and related transactions that □Yes □No √Not applicable
resulted or not
Solution term promised -
Solution way -
Complementation -
(IV) Estimation of operation performance for year of 2012
Estimation of accumulative net profit from the beginning of the year to the end of next report period to be loss
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Hefei Meiling Co., Ltd. The Third Quarterly Report for 2012(Full Text)
probably or the warning of its material change compared with the corresponding period of the last year and
explanation of reason
□Applicable √Not applicable
(V) Particulars about other significant events which needed explanations
1. Particular about security investment
□Applicable √Not applicable
2. Particulars about derivatives investment
□Applicable √Not applicable
3. Particulars about the positions of derivatives investment at the end of report period
□Applicable √Not applicable
4. Registration form of receiving research, communication and interview in the report period
Content discussed
Date Place Way Type Object and documents
provided
Guotai Fund Operation status of
2012-01-13 Conference room Field research Institution Management Co., the Company, no
Ltd. material provided
Bosch Fund Operation status of
2012-02-06 Conference room Field research Institution Management Co., the Company, no
Ltd. material provided
Operation status of
Founder Security
2012-05-09 Conference room Field research Institution the Company, no
Co., Ltd.
material provided
Operation status of
CITIC Security Co.,
2012-05-16 Conference room Field research Institution the Company, no
Ltd.
material provided
Operation status of
China Galaxy
2012-05-29 Conference room Field research Institution the Company, no
Security Co., Ltd.
material provided
Dongxing Security Operation status of
2012-07-03 Conference room Field research Institution Co., Ltd.; Minsheng the Company, no
Security Co., Ltd. material provided
Operation status of
Xingye Security Co.,
2012-09-12 Conference room Field research Institution the Company, no
Ltd.
material provided
Changjiang Security
Operation status of
Co., Ltd.; Dongfang
2012-09-14 Conference room Field research Institution the Company, no
Fund Management
material provided
Co, Ltd
5. Corporate bond issuance
Whether corporate bond issued or not
□ Yes √ Not
IV. Appendix
(I) Financial statement
Whether consolidated statement or not:
10
Hefei Meiling Co., Ltd. The Third Quarterly Report for 2012(Full Text)
√ Yes □ No
Unless otherwise, currency for this statement refers to CNY (RMB)
1. Consolidated Balance Sheet
Prepared by Hefei Meiling Co., Ltd 2012-9-30 Unit: RMB
Items Balance at period-end Balance at period-begin
Current assets:
Monetary funds 1,269,380,719.76 1,401,674,679.41
Settlement provisions
Capital lent
Transaction finance asset
Notes receivable 2,345,868,085.10 1,523,729,827.01
Accounts receivable 896,406,779.28 571,218,022.80
Accounts paid in advance 172,568,838.32 237,494,745.03
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Interest receivable
Dividend receivable
Other receivables 20,553,819.23 41,508,227.47
Purchase restituted finance asset
Inventories 1,442,577,569.78 1,860,605,286.96
Non-current asset due within one year
Other current assets
Total current assets 6,147,355,811.47 5,636,230,788.68
Non-current assets:
Granted loans and advances
Finance asset available for sales
Held-to-maturity investment
Long-term account receivable
Long-term equity investment 35,874,783.58 36,910,458.62
Investment property 20,106,059.69 17,318,541.96
Fixed assets 900,083,934.01 935,910,604.45
Construction in progress 314,850,252.32 204,053,321.44
Engineering material
Disposal of fixed asset
Productive biological asset
Oil and gas asset
Intangible assets 623,881,131.72 648,660,218.36
Expense on Research and
36,710,385.00 25,167,492.74
Development
Goodwill 5,529,842.09 5,529,842.09
Long-term expenses to be apportioned
Deferred income tax asset 110,378,836.89 92,782,352.57
Other non-current asset
Total non-current asset 2,047,415,225.30 1,966,332,832.23
Total assets 8,194,771,036.77 7,602,563,620.91
Current liabilities:
11
Hefei Meiling Co., Ltd. The Third Quarterly Report for 2012(Full Text)
Short-term loans 59,840,828.33 144,000,000.00
Loan from central bank
Absorbing deposit and interbank
deposit
Capital borrowed
Transaction financial liabilities
Notes payable 1,468,278,355.61 1,191,929,934.59
Accounts payable 1,576,579,386.49 1,598,851,420.62
Accounts received in advance 429,525,697.16 703,404,091.67
Selling financial asset of repurchase
Commission charge and commission
payable
Wage payable 75,181,186.73 109,562,805.25
Taxes payable 94,947,919.26 73,939,903.98
Interest payable
Dividend payable 1,457,350.26 1,524,379.01
Other accounts payable 960,760,909.35 518,444,925.03
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Non-current liabilities due within 1
3,405,507.92 2,452,094.16
year
Other current liabilities
Total current liabilities 4,669,977,141.11 4,344,109,554.31
Non-current liabilities:
Long-term loans 131,114,600.00 12,705,500.00
Bonds payable
Long-term account payable
Special accounts payable 18,494,978.80
Projected liabilities 358,984,496.40 315,699,502.43
Deferred income tax liabilities
Other non-current liabilities 72,815,868.38 57,318,443.08
Total non-current liabilities 562,914,964.78 404,218,424.31
Total liabilities 5,232,892,105.89 4,748,327,978.62
Owner’s equity (or shareholders’ equity):
Paid-in capital (or share capital) 763,739,205.00 636,449,338.00
Capital public reserve 1,482,582,390.81 1,609,999,547.27
Less: Inventory shares
Reasonable reserve
Surplus public reserve 299,625,924.94 299,625,924.94
Provision of general risk
Retained profit 369,973,776.87 250,743,672.24
Balance difference of foreign
-933,400.14 -501,107.01
currency translation
Total owner’s equity attributable to parent
2,914,987,897.48 2,796,317,375.44
company
Minority interests 46,891,033.40 57,918,266.85
Total owner’s equity(or shareholders’ 2,961,878,930.88 2,854,235,642.29
12
Hefei Meiling Co., Ltd. The Third Quarterly Report for 2012(Full Text)
equity)
Total liabilities and owner’s equity(or
8,194,771,036.77 7,602,563,620.91
shareholders’ equity)
Legal representative: Liu Tibin
Person in charge of accounting works: Yu Wanchun
Person in charge of accounting institution: Tang Bin
2. Balance Sheet of parent company
Prepared by Hefei Meiling Co., Ltd 2012-9-30 Unit: RMB
Item Balance at period-end Balance at period-begin
Current assets:
Monetary funds 950,409,702.60 1,045,235,918.61
Transaction finance asset
Notes receivable 1,813,847,961.00 1,338,813,802.92
Accounts receivable 771,818,198.21 402,230,488.74
Accounts paid in advance 403,846,428.19 253,040,962.58
Interest receivable
Dividend receivable
Other receivables 49,015,153.91 48,509,875.77
Inventories 640,281,838.79 990,284,586.85
Non-current asset due within one year
Other current assets
Total current assets 4,629,219,282.70 4,078,115,635.47
Non-current assets:
Finance asset available for sales
Held-to-maturity investment
Long-term account receivable
Long-term equity investment 841,710,144.10 841,422,384.33
Investment real estate 13,346,042.17 13,701,458.68
Fixed assets 645,754,976.59 687,515,150.24
Construction in progress 248,874,503.40 191,737,347.16
Engineering material
Disposal of fixed asset
Productive biological asset
Oil and gas asset
Intangible assets 483,744,051.54 501,028,725.80
Expense on Research and Development
Goodwill
Long-term expenses to be apportioned
Deferred income tax asset 70,261,907.72 69,532,232.71
Other non-current asset
Total non-current asset 2,303,691,625.52 2,304,937,298.92
Total assets 6,932,910,908.22 6,383,052,934.39
Current liabilities:
Short-term loans 52,882,178.66 120,000,000.00
Transaction financial liabilities
Notes payable 1,110,795,932.95 858,879,727.69
Accounts payable 1,277,826,591.81 1,271,155,333.03
13
Hefei Meiling Co., Ltd. The Third Quarterly Report for 2012(Full Text)
Accounts received in advance 191,185,913.91 277,848,104.26
Wage payable 60,348,616.26 80,821,797.09
Taxes payable 31,766,482.80 81,559,342.02
Interest payable
Dividend payable 1,457,350.26 1,524,379.01
Other accounts payable 624,342,705.29 400,789,644.51
Non-current liabilities due within 1 year 3,405,507.92 2,452,094.16
Other current liabilities
Total current liabilities 3,354,011,279.86 3,095,030,421.77
Non-current liabilities:
Long-term loans 131,114,600.00 12,705,500.00
Bonds payable
Long-term account payable
Special accounts payable
Projected liabilities 358,984,496.40 315,699,502.43
Deferred income tax liabilities
Other non-current liabilities 55,411,373.40 57,254,843.08
Total non-current liabilities 545,510,469.80 385,659,845.51
Total liabilities 3,899,521,749.66 3,480,690,267.28
Owner’s equity (or shareholders’ equity):
Paid-up capital (or share capital) 763,739,205.00 636,449,338.00
Capital public reserve 1,497,898,193.91 1,625,315,350.37
Less: Inventory shares
Reasonable reserve
Surplus public reserve 299,407,759.26 299,407,759.26
General risk reserve
Retained profit 472,344,000.39 341,190,219.48
Balance difference of foreign currency
translation
Total owner’s equity(or shareholders’
3,033,389,158.56 2,902,362,667.11
equity)
Total liabilities and owner’s equity(or
6,932,910,908.22 6,383,052,934.39
shareholders’ equity)
Legal representative: Liu Tibin
Person in charge of accounting works: Yu Wanchun
Person in charge of accounting institution: Tang Bin
3. Consolidated Profit Statement (this report period)
Prepared by Hefei Meiling Co., Ltd July-September of 2012 Unit: RMB
Item Amount in this period Amount in last period
I. Total operating income 2,237,682,987.81 1,967,627,950.44
Including: Operating income 2,237,682,987.81 1,967,627,950.44
Interest income
Insurance gained
Commission charge and commission
income
II. Total operating cost 2,311,110,995.75 1,976,416,561.93
Including: Operating cost 1,685,374,717.84 1,534,356,582.57
14
Hefei Meiling Co., Ltd. The Third Quarterly Report for 2012(Full Text)
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 extras 21,826,544.05 10,280,981.03
Sales expenses 526,451,442.98 375,581,894.12
Administration expenses 87,729,846.37 87,775,089.03
Financial expenses -15,186,988.11 -18,009,890.28
Losses of devaluation of asset 4,915,432.62 -13,568,094.54
Add: Changing income of fair value(Loss
is listed with “-”)
Investment income (Loss is listed with “-”) -180,689.87 1,925,072.77
Including: Investment income on affiliated
-222,881.65 -260,021.24
company and joint venture
Exchange income (Loss is listed with “-”)
III. Operating profit (Loss is listed with
-73,608,697.81 -6,863,538.72
“-”)
Add: Non-operating income 111,980,171.30 2,033,626.56
Less: Non-operating expense 112,702.41 1,099,131.87
Including: Disposal loss of non-current
36,459.83 410,268.89
asset
IV. Total Profit (Loss is listed with “-”) 38,258,771.08 -5,929,044.03
Less: Income tax expense 9,452,682.63 -4,940,349.34
V. Net profit (Net loss is listed with “-”) 28,806,088.45 -988,694.69
Including: net profit realized before
consolidation by mergered party
Net profit attributable to owner’s of parent
40,197,529.33 4,858,979.15
company
Minority shareholders’ gains and losses -11,391,440.88 -5,847,673.84
VI. Earnings per share -- --
i. Basic earnings per share 0.0526 0.0076
ii. Diluted earnings per share 0.0526 0.0076
VII. Other consolidated income -847,778.01 -106,074.87
VIII. Total comprehensive income 27,958,310.44 -1,094,769.56
Total consolidated income attributable to
39,637,946.74 4,752,904.28
owners of parent company
Total consolidated income attributable to
-11,679,636.30 -5,847,673.84
minority shareholders
The merger realized net profit RMB 0.00 before consolidation during enterprises consolidation under a same
control.
Legal representative: Liu Tibin
Person in charge of accounting works: Yu Wanchun
Person in charge of accounting institution: Tang Bin
4. Profit Statement of parent company (this report period)
Prepared by Hefei Meiling Co., Ltd July-September of 2012 Unit: RMB
Items Amount in this period Amount in last period
15
Hefei Meiling Co., Ltd. The Third Quarterly Report for 2012(Full Text)
I. Operating income 1,502,962,565.89 1,532,137,865.30
Less: operating cost 1,241,030,101.72 1,254,379,154.10
Operating tax and extras 11,488,334.76 8,165,243.05
Sales expenses 183,198,878.43 209,139,566.13
Administration expenses 48,158,062.94 50,445,875.14
Financial expenses -16,363,475.17 -16,609,956.60
Losses of devaluation of asset -1,957,537.93 -7,956,692.15
Add: Changing income of fair value(Loss
is listed with “-”)
Investment income (Loss is listed with “-”) 154,153.88 2,040,000.32
Including: Investment income on affiliated
111,962.10 -107,514.28
company and joint venture
II. Operating profit (Loss is listed with
37,562,355.02 36,614,675.95
“-”)
Add: Non-operating income 7,770,744.80 1,175,079.69
Less: Non-operating expense 38,286.02 367,382.52
Including: Disposal loss of non-current
38,286.02 367,382.52
asset
III. Total Profit (Loss is listed with “-”) 45,294,813.80 37,422,373.12
Less: Income tax expense -6,810,495.54 3,834,510.49
IV. Net profit (Net loss is listed with “-”) 52,105,309.34 33,587,862.63
V. Earnings per share -- --
i. Basic earnings per share 0.0682 0.0528
ii. Diluted earnings per share 0.0682 0.0528
VI. Other consolidated income -127,289.46 -106,074.87
VII. Total comprehensive income 51,978,019.88 33,481,787.76
Legal representative: Liu Tibin
Person in charge of accounting works: Yu Wanchun
Person in charge of accounting institution: Tang Bin
5. Consolidated profit statement (year-begin to end of this period)
Prepared by Hefei Meiling Co., Ltd January-September of 2012 Unit: RMB
Item Amount in this period Amount in last period
I. Total operating income 7,550,293,510.93 7,442,646,639.08
Including: Operating income 7,550,293,510.93 7,442,646,639.08
Interest income
Insurance gained
Commission charge and commission
income
II. Total operating cost 7,497,562,907.35 7,429,703,139.95
Including: Operating cost 5,729,351,916.10 5,835,812,631.07
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
16
Hefei Meiling Co., Ltd. The Third Quarterly Report for 2012(Full Text)
Operating tax and extras 64,999,503.81 29,734,833.85
Sales expenses 1,464,308,941.95 1,356,557,447.90
Administration expenses 246,641,388.13 231,319,253.25
Financial expenses -49,773,966.57 -33,250,531.86
Losses of devaluation of asset 42,035,123.93 9,529,505.74
Add: Changing income of fair value(Loss
is listed with “-”)
Investment income (Loss is listed with “-”) 80,274.04 2,257,469.01
Including: Investment income on affiliated
-1,035,675.04 -396,478.55
company and joint venture
Exchange income (Loss is listed with “-”)
III. Operating profit (Loss is listed with
52,810,877.62 15,200,968.14
“-”)
Add: Non-operating income 116,559,820.74 121,576,276.61
Less: Non-operating expense 5,738,521.21 3,242,460.35
Including: Disposal loss of non-current
5,370,396.64 2,294,798.27
asset
IV. Total Profit (Loss is listed with “-”) 163,632,177.15 133,534,784.40
Less: Income tax expense 23,318,643.65 13,195,542.44
V. Net profit (Net loss is listed with “-”) 140,313,533.50 120,339,241.96
Including: net profit realized before
consolidation by mergered party
Net profit attributable to owner’s of parent
151,052,571.53 131,016,975.36
company
Minority shareholders’ gains and losses -10,739,038.03 -10,677,733.40
VI. Earnings per share -- --
i. Basic earnings per share 0.1978 0.2059
ii. Diluted earnings per share 0.1978 0.2059
VII. Other consolidated income -847,778.01 -106,074.87
VIII. Total comprehensive income 139,465,755.49 120,233,167.09
Total consolidated income attributable to
150,492,988.94 130,910,900.49
owners of parent company
Total consolidated income attributable to
-11,027,233.45 -10,677,733.40
minority shareholders
The merger realized net profit RMB 0.00 before consolidation during enterprises consolidation under a same
control.
Legal representative: Liu Tibin
Person in charge of accounting works: Yu Wanchun
Person in charge of accounting institution: Tang Bin
6. Profit Statement of parent company (year-begin to end of this period)
Prepared by Hefei Meiling Co., Ltd January-September of 2012 Unit: RMB
Items Amount in this period Amount in last period
I. Operating income 5,124,001,708.53 5,738,621,856.22
Less: operating cost 4,311,046,955.05 4,558,710,517.16
Operating tax and extras 43,403,088.39 25,658,811.37
Sales expenses 544,241,886.84 865,393,459.98
Administration expenses 130,144,986.56 134,528,877.52
Financial expenses -50,082,883.52 -35,335,067.91
17
Hefei Meiling Co., Ltd. The Third Quarterly Report for 2012(Full Text)
Losses of devaluation of asset -26,291,668.34 4,526,369.80
Add: Changing income of fair value(Loss
is listed with “-”)
Investment income (Loss is listed with “-”) 1,403,708.85 2,204,271.19
Including: Investment income on affiliated
287,759.77 -145,093.69
company and joint venture
II. Operating profit (Loss is listed with
172,943,052.40 187,343,159.49
“-”)
Add: Non-operating income 10,677,279.84 3,327,437.69
Less: Non-operating expense 5,360,222.65 2,248,212.57
Including: Disposal loss of non-current
5,360,222.65 2,244,428.62
asset
III. Total Profit (Loss is listed with “-”) 178,260,109.59 188,422,384.61
Less: Income tax expense 15,283,861.78 28,048,383.83
IV. Net profit (Net loss is listed with “-”) 162,976,247.81 160,374,000.78
V. Earnings per share -- --
i. Basic earnings per share 0.2134 0.252
ii. Diluted earnings per share 0.2134 0.252
VI. Other consolidated income -127,289.46 -106,074.87
VII. Total comprehensive income 162,848,958.35 160,267,925.91
Legal representative: Liu Tibin
Person in charge of accounting works: Yu Wanchun
Person in charge of accounting institution: Tang Bin
7. Consolidated Cash Flow Statement (year-begin to end of this period)
Prepared by Hefei Meiling Co., Ltd January-September of 2012 Unit: RMB
Item Amount in this period Amount in last period
I. Cash flows arising from operating
activities:
Cash received from selling commodities
4,523,822,297.60 3,742,138,509.33
and 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 received 63,775,740.06 56,902,243.75
Other cash received concerning operating
120,435,305.61 160,715,258.22
activities
Subtotal of cash inflow arising from
4,708,033,343.27 3,959,756,011.30
operating activities
Cash paid for purchasing commodities and
3,433,164,543.09 3,268,082,361.83
receiving labor service
18
Hefei Meiling Co., Ltd. The Third Quarterly Report for 2012(Full Text)
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 staff and workers 494,199,057.81 401,947,468.96
Taxes paid 392,217,707.99 341,699,457.59
Other cash paid concerning operating
429,151,777.23 629,570,934.47
activities
Subtotal of cash outflow arising from
4,748,733,086.12 4,641,300,222.85
operating activities
Net cash flows arising from operating
-40,699,742.85 -681,544,211.55
activities
II. Cash flows arising from investing
activities:
Cash received from recovering investment 1,000,000.00
Cash received from investment income 1,073,757.30 3,921,480.54
Net cash received from disposal of fixed,
10,508,917.59 81,152,480.73
intangible and other long-term assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning investing
15,682,560.50 22,785,825.94
activities
Subtotal of cash inflow from investing
27,265,235.39 108,859,787.21
activities
Cash paid for purchasing fixed, intangible
112,886,554.15 164,884,385.79
and other long-term assets
Cash paid for investment -21,753,532.00
Net increase of mortgaged loans
Net cash received from subsidiaries and
978,687.97
other units
Other cash paid concerning investing
activities
Subtotal of cash outflow from investing
112,886,554.15 144,109,541.76
activities
Net cash flows arising from investing
-85,621,318.76 -35,249,754.55
activities
III. Cash flows arising from financing
activities
Cash received from absorbing investment 35,926,000.00
Including: Cash received from absorbing
minority shareholders’ investment by
subsidiaries
Cash received from loans 380,685,156.66 152,961,241.63
Cash received from issuing bonds
Other cash received concerning financing
activities
Subtotal of cash inflow from financing
380,685,156.66 188,887,241.63
activities
Cash paid for settling debts 355,426,724.40 246,450,449.52
Cash paid for dividend and profit
37,193,578.57 34,916,771.52
distributing or interest paying
Including: Dividend and profit of minority
shareholder paid by subsidiaries
Other cash paid concerning financing
127,556.56 102,436.51
activities
19
Hefei Meiling Co., Ltd. The Third Quarterly Report for 2012(Full Text)
Subtotal of cash outflow from financing
392,747,859.53 281,469,657.55
activities
Net cash flows arising from financing
-12,062,702.87 -92,582,415.92
activities
IV. Influence on cash and cash equivalents
6,089,804.83 4,764,243.63
due to fluctuation in exchange rate
V. Net increase of cash and cash
-132,293,959.65 -804,612,138.39
equivalents
Add: Balance of cash and cash equivalents
1,401,674,679.41 1,986,440,504.29
at the period -begin
VI. Balance of cash and cash equivalents at
1,269,380,719.76 1,181,828,365.90
the period -end
Legal representative: Liu Tibin
Person in charge of accounting works: Yu Wanchun
Person in charge of accounting institution: Tang Bin
8. Cash Flow Statement of parent company (year-begin to end of this period)
Prepared by Hefei Meiling Co., Ltd January-September of 2012 Unit: RMB
Item Amount in this period Amount in last period
I. Cash flows arising from operating
activities:
Cash received from selling commodities
3,312,091,575.07 2,551,260,321.64
and providing labor services
Write-back of tax received 20,327,113.44 11,097,120.70
Other cash received concerning operating
11,953,570.93 4,649,052.65
activities
Subtotal of cash inflow arising from
3,344,372,259.44 2,567,006,494.99
operating activities
Cash paid for purchasing commodities and
2,807,356,749.19 2,084,509,977.25
receiving labor service
Cash paid to/for staff and workers 214,240,456.61 198,836,502.68
Taxes paid 252,843,131.29 301,602,937.85
Other cash paid concerning operating
145,491,871.52 449,296,414.56
activities
Subtotal of cash outflow arising from
3,419,932,208.61 3,034,245,832.34
operating activities
Net cash flows arising from operating
-75,559,949.17 -467,239,337.35
activities
II. Cash flows arising from investing
activities:
Cash received from recovering investment 1,000,000.00
Cash received from investment income 1,073,757.30 3,681,177.60
Net cash received from disposal of fixed,
797,283.60 1,265,057.60
intangible and other long-term assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning investing
15,426,214.55 21,653,981.21
activities
Subtotal of cash inflow from investing
17,297,255.45 27,600,216.41
activities
Cash paid for purchasing fixed, intangible
64,474,065.58 114,767,303.99
and other long-term assets
Cash paid for investment 129,000,000.00
Net cash received from subsidiaries and
other units
Other cash paid concerning investing
37,000,000.00
activities
Subtotal of cash outflow from investing
64,474,065.58 280,767,303.99
activities
Net cash flows arising from investing
-47,176,810.13 -253,167,087.58
activities
III. Cash flows arising from financing
activities
20
Hefei Meiling Co., Ltd. The Third Quarterly Report for 2012(Full Text)
Cash received from absorbing investment
Cash received from loans 266,562,880.34 120,000,000.00
Cash received from issuing bonds
Other cash received concerning financing
27,214,095.99 39,000,000.00
activities
Subtotal of cash inflow from financing
293,776,976.33 159,000,000.00
activities
Cash paid for settling debts 224,092,500.00 219,500,000.00
Cash paid for dividend and profit
36,404,906.95 32,808,599.29
distributing or interest paying
Other cash paid concerning financing
10,127,556.56 112,429,947.13
activities
Subtotal of cash outflow from financing
270,624,963.51 364,738,546.42
activities
Net cash flows arising from financing
23,152,012.82 -205,738,546.42
activities
IV. Influence on cash and cash equivalents
4,758,530.47 4,528,421.63
due to fluctuation in exchange rate
V. Net increase of cash and cash
-94,826,216.01 -921,616,549.72
equivalents
Add: Balance of cash and cash equivalents
1,045,235,918.61 1,798,742,365.37
at the period -begin
VI. Balance of cash and cash equivalents at
950,409,702.60 877,125,815.65
the period -end
Legal representative: Liu Tibin
Person in charge of accounting works: Yu Wanchun
Person in charge of accounting institution: Tang Bin
(II) Auditing Report
Auditing Opinion Un-audited
Hefei Meiling Co., Ltd.
Chairman: Liu Tibin
Date approval by the Board: 25 October 2012
21
