Report for the First Quarter of 2013 of Changchai Company, Limited
Changchai Company, Limited
Report for the First Quarter of 2013
April 2013
1
Report for the First Quarter of 2013 of Changchai Company, Limited
Section I. Important Reminders
The Board of Directors, the Supervisory Committee, directors, supervisors and senior management staff of
Changchai Company, Limited (hereinafter referred to as “the Company”) warrant that the information carried in
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.
Xue Guojun, company principal, He Jianguang, chief of the accounting work, and Jiang He, chief of the
accounting organ (chief of accounting), hereby confirm that the financial statements enclosed in this report are
factual, accurate and complete.
All directors have attended the board session for reviewing this report.
This report is prepared in both Chinese and English. Should there be any discrepancy between the two versions,
the Chinese version shall prevail.
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Report for the First Quarter of 2013 of Changchai Company, Limited
Section II. Financial Highlights & Change of Shareholders
I. Financial highlights
Does the Company adjust retrospectively or restate any accounting data of previous years?
□ Yes √No
Jan.-Mar. 2013 Jan.-Mar. 2012 +/- (%)
Operating revenues (RMB Yuan) 814,251,387.30 845,226,165.76 -3.66%
Net profit attributable to shareholders of
18,934,558.56 13,475,393.55 40.51%
the Company (RMB Yuan)
Net profit attributable to shareholders of
the Company after extraordinary gains and 18,619,519.27 14,729,173.97 26.41%
losses (RMB Yuan)
Net cash flows from operating activities
71,419,143.58 77,207,351.21 -7.5%
(RMB Yuan)
Basic EPS (RMB Yuan/share) 0.03 0.02 50%
Diluted EPS (RMB Yuan/share) 0.03 0.02 50%
Weighted average ROE (%) 1.02% 0.76% 0.26%
31 Mar. 2013 31 Dec. 2012 +/- (%)
Total assets (RMB Yuan) 3,189,117,089.02 3,116,489,064.01 2.33%
Net assets attributable to shareholders of
1,837,114,076.93 1,845,193,200.65 -0.44%
the Company (RMB Yuan)
Items and amounts of extraordinary gains and losses
√ Applicable □ Inapplicable
Unit: RMB Yuan
Item 1 Jan. 2013-31 Mar. 2013 Explanation
Government grants recognized in the current period, except for
those acquired in the ordinary course of business or granted at
780,000.00
certain quotas or amounts according to the government’s unified
standards
Gains and losses on change in fair value from tradable financial
assets and tradable financial liabilities, as well as investment
income from disposal of tradable financial assets and tradable
77,588.11
financial liabilities and financial assets available for sales except
for effective hedging related with normal businesses of the
Company
Non-operating income and expense other than the above -198,657.90
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Report for the First Quarter of 2013 of Changchai Company, Limited
Income tax effects 216,941.32
Minority interests effects (after tax) 126,949.60
Total 315,039.29 --
II. Total number of shareholders at the period-end and shareholdings of top 10 shareholders
Unit: share
Total number of shareholders at the
81,608
period-end
Shareholdings of top 10 shareholders
Number of Pledged or frozen shares
Name of Nature of Shareholding Total shares held
restricted shares
shareholder shareholder percentage (%) at the period-end Status of shares Number of shares
held
State-owned
Assets
Supervision and
Administration
On behalf of the
Commission of 30.02% 168,497,736 0
State
Changzhou
Municipal
People’s
Government
Domestic natural
Yu Meiyan 0.57% 3,209,791 0
person
Domestic natural
Li Xiang 0.45% 2,522,584 0
person
BNP PARIBAS
WEALTH
Foreign
MANAGEMENT 0.43% 2,439,917 0
corporation
HONG KONG
BRANCH
Domestic natural
Meng Huijuan 0.42% 2,355,935 0
person
Domestic natural
Zhao Shijun 0.4% 2,271,731 0
person
Domestic natural
Wang Jinshan 0.35% 1,956,189 0
person
Domestic natural
Tang Zijiang 0.34% 1,893,867 0
person
Li Xin Domestic natural 0.34% 1,886,681 0
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Report for the First Quarter of 2013 of Changchai Company, Limited
person
Foreign natural
Meng Qingjun 0.29% 1,624,184 0
person
Shareholdings of top 10 non-restricted shareholders
Variety of shares
Name of shareholder Number of non-restricted shares held
Variety Number
State-owned Assets Supervision and
Administration Commission of RMB ordinary
168,497,736 168,497,736
Changzhou Municipal People’s shares
Government
RMB ordinary
Yu Meiyan 3,209,791 3,209,791
shares
RMB ordinary
Li Xiang 2,522,584 2,522,584
shares
BNP PARIBAS WEALTH Domestically
MANAGEMENT HONG KONG 2,439,917 listed foreign 2,439,917
BRANCH shares
RMB ordinary
Meng Huijuan 2,355,935 2,355,935
shares
RMB ordinary
Zhao Shijun 2,271,731 2,271,731
shares
RMB ordinary
Wang Jinshan 1,956,189 1,956,189
shares
RMB ordinary
Tang Zijiang 1,893,867 1,893,867
shares
RMB ordinary
Li Xin 1,886,681 1,886,681
shares
RMB ordinary
Meng Qingjun 1,624,184 1,624,184
shares
Explanation on associated It is unknown whether there was any associated relationship among the top ten tradable
relationship or persons acting in shareholders and among the top ten shareholders not subject to trading moratorium, or
concert among the above-mentioned whether they are persons acting in concert as described by Measures for the Administrative of
shareholders Disclosure of Shareholder Equity Changes.
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Report for the First Quarter of 2013 of Changchai Company, Limited
Section III. Significant Events
I. Significant changes of the major accounting statement items and financial indicators for the
reporting period, as well as the reasons for these changes
1. Notes receivable were down 48.44% as compared to the beginning of the year, which was mainly because the
Company increased the payment for purchased goods by way of acceptance bills during the reporting period.
2. Accounts receivable were up 82.57% as compared to the beginning of the year, which was mainly because the
Company properly extended credit to customers according to relevant agreements and plans in the reporting
period so as to attract more customers.
3. Prepayments were down 38.10% as compared to the beginning of the year, which was mainly because the
Company’s prepayments for materials decreased in the reporting period.
4. Accounts received in advance were up 93.42% as compared to the beginning of the year, which was mainly
because the vendors prepaid partial payment for goods to prepare the inventories for peak season of production
during the reporting period.
5. Employee’s compensation payable were down 41.31% as compared to the beginning of the year, which was
mainly because partial provision for salaries accrued at the period-begin was paid in the reporting period.
6. Investment income was down by RMB 8,708,230.97 from a year earlier, which was mainly because the
Company gained RMB 8670,000.00 as dividends from holding the shares of Foton Motor at the same period of
last year, but no such event happened in the year.
7. Administrative expenses were up 66.51% from a year earlier, which was mainly because the Company’s
regulation fees, depreciation fees and other fees increased in the reporting period.
II. Predict the operating results of Jan.-Jun. 2013
Warning of possible loss or considerable YoY change of the accumulated net profit made during the period-begin
to the end of the next reporting period according to prediction, as well as explanations on the reasons:
□Applicable √Inapplicable
III. Securities investments
Variety of Code of Name of Initial Number Sharehold Number Sharehold Closing Gain/loss Accounti Source of
securities securities securities investmen of shares ing of shares ing book for ng title securities
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Report for the First Quarter of 2013 of Changchai Company, Limited
t cost held at percentag held at percentag value reporting
(RMB period-be e at period-en e at (RMB period
Yuan) gin period-be d (Share) period-en Yuan) (RMB
(Share) gin (10%) d (%) Yuan)
Total 0.00 0 -- 0 -- 0.00 0.00 -- --
Explain shareholdings in other listed companies:
At the end of the reporting period, the Company held 72.25 million “Foton Motor” shares and 50,000 “Ninghu
Expressway” shares measured as available-for-sale financial assets.
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Report for the First Quarter of 2013 of Changchai Company, Limited
Section IV. Financial Statements
I. Financial statements
1. Consolidated balance sheet
Prepared by Changchai Company, Limited
Unit: RMB Yuan
Item Closing balance Opening balance
Current Assets:
Monetary funds 784,195,305.03 744,494,588.07
Settlement reserves
Intra-group lendings
Transactional financial assets
Notes receivable 106,129,840.00 205,845,568.10
Accounts receivable 546,278,686.10 299,208,278.88
Accounts paid in advance 9,354,895.08 15,111,761.78
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract reserves
Interest receivable
Dividend receivable
Other accounts receivable 22,984,074.35 12,892,742.09
Financial assets purchased under agreements to resell
Inventories 361,034,047.49 452,271,304.37
Non-current assets due within 1 year
Other current assets 190,525.89
Total current assets 1,830,167,373.94 1,729,824,243.29
Non-current assets:
Loans by mandate and advances granted
Available-for-sale financial assets 454,723,500.00 486,503,000.00
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 63,818,655.83 63,818,655.83
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Report for the First Quarter of 2013 of Changchai Company, Limited
Investing property 63,353,967.23 63,906,052.43
Fixed assets 557,392,686.35 566,044,962.19
Construction in progress 133,410,960.33 119,576,338.33
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 85,497,745.34 86,063,611.94
R&D expense
Goodwill
Long-term deferred expenses
Deferred income tax assets 752,200.00 752,200.00
Other non-current assets
Total of non-current assets 1,358,949,715.08 1,386,664,820.72
Total assets 3,189,117,089.02 3,116,489,064.01
Current liabilities:
Short-term borrowings 27,000,000.00 20,000,000.00
Borrowings from Central Bank
Customer bank deposits and due to banks and other
financial institutions
Intra-group borrowings
Transactional financial liabilities
Notes payable 386,593,302.00 346,039,002.00
Accounts payable 575,909,174.52 599,455,800.00
Accounts received in advance 61,219,865.40 31,650,567.34
Financial assets sold for repurchase
Handling charges and commissions payable
Employee’s compensation payable 26,249,928.53 44,726,018.55
Tax payable -32,833,991.35 -57,736,771.71
Interest payable
Dividend payable 3,891,433.83 3,891,433.83
Other accounts payable 160,722,123.74 135,442,533.37
Reinsurance premiums payable
Insurance contract reserves
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Report for the First Quarter of 2013 of Changchai Company, Limited
Payables for acting trading of securities
Payables for acting underwriting of securities
Non-current liabilities due within 1 year
Other current liabilities 2,675,105.26 2,430,896.10
Total current liabilities 1,211,426,941.93 1,125,899,479.48
Non-current liabilities:
Long-term borrowings 0.00
Bonds payable
Long-term payables
Specific payables
Estimated liabilities
Deferred income tax liabilities 61,927,350.00 66,694,275.00
Other non-current liabilities 62,558,726.56 62,558,726.56
Total non-current liabilities 124,486,076.56 129,253,001.56
Total liabilities 1,335,913,018.49 1,255,152,481.04
Owners’ equity (or shareholders’ equity)
Paid-up capital (or share capital) 561,374,326.00 561,374,326.00
Capital reserves 521,937,804.25 548,950,379.25
Less: Treasury stock
Specific reserves 4,169,087.73 4,169,087.73
Surplus reserves 282,364,917.36 282,364,917.36
Provisions for general risks
Retained profits 467,301,119.62 448,366,561.06
Foreign exchange difference -33,178.03 -32,070.75
Total equity attributable to owners of the Company 1,837,114,076.93 1,845,193,200.65
Minority interests 16,089,993.60 16,143,382.32
Total owners’ (or shareholders’) equity 1,853,204,070.53 1,861,336,582.97
Total liabilities and owners’ (or shareholders’) equity 3,189,117,089.02 3,116,489,064.01
Legal representative: Xue Guojun Chief of the accounting work: He Jianguang Chief of the accounting organ: Jiang He
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Report for the First Quarter of 2013 of Changchai Company, Limited
2. Balance sheet of the Company
Prepared by Changchai Company, Limited
Unit: RMB Yuan
Item Closing balance Opening balance
Current Assets:
Monetary funds 760,905,846.49 708,748,963.75
Transactional financial assets
Notes receivable 104,499,840.00 204,145,568.10
Accounts receivable 508,762,797.33 270,792,908.11
Accounts paid in advance 4,072,276.42 5,262,544.00
Interest receivable
Dividend receivable
Other accounts receivable 9,053,810.77 10,649,609.55
Inventories 301,547,642.40 394,078,425.44
Non-current assets due within 1 year
Other current assets
Total current assets 1,688,842,213.41 1,593,678,018.95
Non-current assets:
Available-for-sale financial assets 454,723,500.00 486,503,000.00
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 184,236,895.83 184,236,895.83
Investing property 63,353,967.23 63,906,052.43
Fixed assets 507,024,584.88 514,896,287.55
Construction in progress 65,613,841.35 54,016,629.18
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 83,399,107.01 83,950,840.94
R&D expense
Goodwill
Long-term deferred expenses
Deferred income tax assets 752,200.00 752,200.00
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Report for the First Quarter of 2013 of Changchai Company, Limited
Other non-current assets
Total of non-current assets 1,359,104,096.30 1,388,261,905.93
Total assets 3,047,946,309.71 2,981,939,924.88
Current liabilities:
Short-term borrowings
Transactional financial liabilities
Notes payable 386,593,302.00 342,039,002.00
Accounts payable 534,663,381.84 550,360,525.50
Accounts received in advance 61,000,832.22 41,410,038.64
Employee’s compensation payable 23,093,785.54 40,928,015.45
Tax payable -26,462,960.66 -50,279,283.71
Interest payable
Dividend payable 3,243,179.97 3,243,179.97
Other accounts payable 156,803,170.05 131,766,779.90
Non-current liabilities due within 1 year
Other current liabilities
Total current liabilities 1,138,934,690.96 1,059,468,257.75
Non-current liabilities:
Long-term borrowings
Bonds payable
Long-term payables
Specific payables
Estimated liabilities
Deferred income tax liabilities 61,927,350.00 66,694,275.00
Other non-current liabilities 62,558,726.56 62,558,726.56
Total non-current liabilities 124,486,076.56 129,253,001.56
Total liabilities 1,263,420,767.52 1,188,721,259.31
Owners’ equity (or shareholders’ equity)
Paid-up capital (or share capital) 561,374,326.00 561,374,326.00
Capital reserves 533,965,959.95 560,978,534.95
Less: Treasury stock
Specific reserves 4,169,087.73 4,169,087.73
Surplus reserves 282,364,917.36 282,364,917.36
Provisions for general risks
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Report for the First Quarter of 2013 of Changchai Company, Limited
Retained profits 402,651,251.15 384,331,799.53
Foreign exchange difference
Total owners’ (or shareholders’) equity 1,784,525,542.19 1,793,218,665.57
Total liabilities and owners’ (or shareholders’) equity 3,047,946,309.71 2,981,939,924.88
Legal representative: Xue Guojun Chief of the accounting work: He Jianguang Chief of the accounting organ: Jiang He
3. Consolidated income statement
Prepared by Changchai Company, Limited
Unit: RMB Yuan
Item Jan.-Mar. 2013 Jan.-Mar. 2012
I. Total operating revenues
814,251,387.30 845,226,165.76
Including: Sales income
814,251,387.30 845,226,165.76
Interest income
Premium income
Handling charge and commission income
II. Total operating cost
792,240,834.74 838,659,814.86
Including: Cost of sales
722,423,947.13 785,328,293.06
Interest expenses
Handling charge and commission expenses
Surrenders
Net claims paid
Net amount withdrawn for the insurance contract
reserve
Expenditure on policy dividends
Reinsurance premium
Taxes and associate charges
143,557.89 101,423.38
Selling and distribution expenses
29,454,345.37 30,761,683.30
Administrative expenses
42,694,660.07 25,640,802.83
Financial expenses
-2,475,675.72 -3,172,387.71
Asset impairment loss
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Report for the First Quarter of 2013 of Changchai Company, Limited
Add: Gain/(loss) from change in fair value (“-” means
loss) -8,567.35
Gain/(loss) from investment (“-” means loss)
77,588.11 8,785,819.08
Including: share of profits in associates and joint ventures
Foreign exchange gains (“-” means loss)
III. Business profit (“-” means loss)
22,088,140.67 15,343,602.63
Add: non-operating income
1,775,940.49 1,119,939.68
Less: non-operating expense
1,194,598.39 1,306,719.01
Including: loss from non-current asset disposal
IV. Total profit (“-” means loss)
22,669,482.77 15,156,823.30
Less: Income tax expense
3,788,312.93 1,067,001.09
V. Net profit (“-” means loss)
18,881,169.84 14,089,822.21
Including: Net profit achieved by combined parties
before the combinations
Attributable to owners of the Company
18,934,558.56 13,475,393.55
Minority shareholders’ income
-53,388.72 614,428.66
VI. Earnings per share
-- --
(I) Basic earnings per share
0.03 0.02
(II) Diluted earnings per share
0.03 0.02
Ⅶ. Other comprehensive incomes
-27,013,682.28 62,032,870.00
Ⅷ. Total comprehensive incomes
-8,132,512.44 76,122,692.21
Attributable to owners of the Company
-8,079,123.72 75,508,263.55
Attributable to minority shareholders
-53,388.72 614,428.66
Legal representative: Xue Guojun Chief of the accounting work: He Jianguang Chief of the accounting organ: Jiang He
4. Income statement of the Company
Prepared by Changchai Company, Limited
Unit: RMB Yuan
Item Jan.-Mar. 2013 Jan.-Mar. 2012
I. Total sales 817,249,880.91 842,829,033.77
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Report for the First Quarter of 2013 of Changchai Company, Limited
Less: cost of sales 732,184,980.34 791,692,366.50
Business taxes and surcharges
Distribution expenses 27,591,970.45 28,860,823.62
Administrative expenses 38,206,517.83 21,209,113.45
Financial costs -2,984,442.00 -3,843,336.15
Impairment loss
Add: gain/(loss) from change in fair value (“-” means
loss)
Gain/(loss) from investment (“-” means loss) 8,670,000.00
Including: income form investment on associates and
joint ventures
II. Business profit (“-” means loss) 22,250,854.29 13,580,066.35
Add: non-business income 672,397.21 947,989.76
Less: non-business expense 1,194,484.89 1,276,719.01
Including: loss from non-current asset disposal
III. Total profit (“-” means loss) 21,728,766.61 13,251,337.10
Less: income tax expense 3,409,314.99 687,200.57
IV. Net profit (“-” means loss) 18,319,451.62 12,564,136.53
V. Earnings per share -- --
(I) Basic earnings per share 0.03 0.02
(II) Diluted earnings per share 0.03 0.02
VI. Other comprehensive income -27,012,575.00 62,033,850.00
VII. Total comprehensive income -8,693,123.38 74,597,986.53
Legal representative: Xue Guojun Chief of the accounting work: He Jianguang Chief of the accounting organ: Jiang He
5. Consolidated cash flow statement
Prepared by Changchai Company, Limited
Unit: RMB Yuan
Item Jan.-Mar. 2013 Jan.-Mar. 2012
I. Cash flows from operating activities:
Cash received from sale of commodities and
809,467,550.66 845,225,915.69
rendering of service
Net increase of deposits from customers and dues
from banks
Net increase of loans from the central bank
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Report for the First Quarter of 2013 of Changchai Company, Limited
Net increase of funds borrowed from other financial
institutions
Cash received from premium of original insurance
contracts
Net cash received from reinsurance business
Net increase of deposits of policy holders and
investment fund
Net increase of disposal of tradable financial assets
Cash received from interest, handling charges and
commissions
Net increase of intra-group borrowings
Net increase of funds in repurchase business
Tax refunds received 14,771,186.10 15,775,618.36
Other cash received relating to operating activities 4,027,490.48 2,363,212.23
Subtotal of cash inflows from operating activities 828,266,227.24 863,364,746.28
Cash paid for goods and services 648,268,258.31 682,484,772.40
Net increase of customer lendings and advances
Net increase of funds deposited in the central bank
and amount due from banks
Cash for paying claims of the original insurance
contracts
Cash for paying interest, handling charges and
commissions
Cash for paying policy dividends
Cash paid to and for employees 81,987,302.47 81,527,551.32
Various taxes paid 10,113,491.21 4,945,592.94
Other cash payment relating to operating activities 16,478,031.67 17,199,478.41
Subtotal of cash outflows from operating activities 756,847,083.66 786,157,395.07
Net cash flows from operating activities 71,419,143.58 77,207,351.21
II. Cash flows from investing activities:
Cash received from withdrawal of investments 0.00 9,301,144.39
Cash received from return on investments 77,588.11 115,819.08
Net cash received from disposal of fixed assets,
197,020.04
intangible assets and other long-term assets
Net cash received from disposal of subsidiaries or
other business units
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Report for the First Quarter of 2013 of Changchai Company, Limited
Other cash received relating to investing activities 5,179,450.00
Subtotal of cash inflows from investing activities 5,454,058.15 9,416,963.47
Cash paid to acquire fixed assets, intangible assets
27,916,821.47 30,348,254.84
and other long-term assets
Cash paid for investment 0.00 9,381,644.39
Net increase of pledged loans
Net cash paid to acquire subsidiaries and other
business units
Other cash payments relating to investing activities 16,000,000.00 10,000,000.00
Subtotal of cash outflows from investing activities 43,916,821.47 49,729,899.23
Net cash flows from investing activities -38,462,763.32 -40,312,935.76
III. Cash Flows from Financing Activities:
Cash received from capital contributions
Including: Cash received from minority shareholder
investments by subsidiaries
Cash received from borrowings 17,000,000.00 20,000,000.00
Cash received from issuance of bonds
Other cash received relating to financing activities
Subtotal of cash inflows from financing activities 17,000,000.00 20,000,000.00
Repayment of borrowings 10,000,000.00 50,000,000.00
Cash paid for interest expenses and distribution of
254,655.94 959,773.07
dividends or profit
Including: dividends or profit paid by subsidiaries
to minority shareholders
Other cash payments relating to financing activities
Sub-total of cash outflows from financing activities 10,254,655.94 50,959,773.07
Net cash flows from financing activities 6,745,344.06 -30,959,773.07
IV. Effect of foreign exchange rate changes on cash and
-1,007.36 -980.00
cash equivalents
V. Net increase in cash and cash equivalents 39,700,716.96 5,933,662.38
Add: Opening balance of cash and cash equivalents 744,494,588.07 470,293,043.20
VI. Closing balance of cash and cash equivalents 784,195,305.03 476,226,705.58
Legal representative: Xue Guojun Chief of the accounting work: He Jianguang Chief of the accounting organ: Jiang He
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Report for the First Quarter of 2013 of Changchai Company, Limited
6. Cash flow statement of the Company
Prepared by Changchai Company, Limited
Unit: RMB Yuan
Item Jan.-Mar. 2013 Jan.-Mar. 2012
I. Cash flows from operating activities:
Cash received from sale of commodities and
806,717,049.56 844,475,915.69
rendering of service
Tax refunds received 14,771,186.10 15,775,618.36
Other cash received relating to operating activities 3,549,610.74 2,051,729.67
Subtotal of cash inflows from operating activities 825,037,846.40 862,303,263.72
Cash paid for goods and services 655,750,607.03 700,908,747.50
Cash paid to and for employees 72,118,774.59 72,236,290.78
Various taxes paid 9,942,021.71 2,556,110.95
Other cash payment relating to operating activities 11,248,564.85 13,704,182.68
Subtotal of cash outflows from operating activities 749,059,968.18 789,405,331.91
Net cash flows from operating activities 75,977,878.22 72,897,931.81
II. Cash flows from investing activities:
Cash received from retraction of investments
Cash received from return on investments 0.00
Net cash received from disposal of fixed assets,
197,020.04
intangible assets and other long-term assets
Net cash received from disposal of subsidiaries or
other business units
Other cash received relating to investing activities
Subtotal of cash inflows from investing activities 197,020.04
Cash paid to acquire fixed assets, intangible assets
24,018,015.52 25,596,039.83
and other long-term assets
Cash paid for investment
Net cash paid to acquire subsidiaries and other
business units
Other cash payments relating to investing activities
Subtotal of cash outflows from investing activities 24,018,015.52 25,596,039.83
Net cash flows from investing activities -23,820,995.48 -25,596,039.83
III. Cash Flows from Financing Activities:
Cash received from capital contributions
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Report for the First Quarter of 2013 of Changchai Company, Limited
Cash received from borrowings
Cash received from issuance of bonds
Other cash received relating to financing activities
Subtotal of cash inflows from financing activities 0.00
Repayment of borrowings 0.00 30,000,000.00
Cash paid for interest expenses and distribution of
0.00 146,600.00
dividends or profit
Other cash payments relating to financing activities
Sub-total of cash outflows from financing activities 0.00 30,146,600.00
Net cash flows from financing activities 0.00 -30,146,600.00
IV. Effect of foreign exchange rate changes on cash and
cash equivalents
V. Net increase in cash and cash equivalents 52,156,882.74 17,155,291.98
Add: Opening balance of cash and cash equivalents 708,748,963.75 440,239,150.22
VI. Closing balance of cash and cash equivalents 760,905,846.49 457,394,442.20
Legal representative: Xue Guojun Chief of the accounting work: He Jianguang Chief of the accounting organ: Jiang He
II. Audit report
Is this report audited?
□ Yes √ No
19
