鲁泰纺织股份有限公司2009 年第三季度季度报告全文
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LU THAI TEXTILE CO., LTD.
THE THIRD QUARTERLY REPORT FOR 2009
§1. Important Notice
1.1 The Board of Directors, the Supervisory Committee, directors, supervisors and other senior
management personnel of Luthai Textile Co., Ltd. (hereinafter referred to as “the Company”)
hereby guarantee that this report carries no false information, misleading statements or major
omissions, and accept, individually and collectively, the responsibility for the factuality,
accuracy and completeness of the information set forth herein.
1.2 The Financial Report in the third quarterly report has not been audited by a CPA firm.
1.3 Mr. Liu Shizhen, Chairman of the Board of the Company, Ms. Zhang Hongmei, person in
charge of accounting work and accounting organ (Financial Manager) hereby confirmed that
the Financial Report enclosed in Quarterly Report is true and complete.
§2. Company Profile
2.1 Main accounting data and financial indexes
Unit: RMB Yuan
30 Sep. 2009.9 31 Dec. 2008 Increase/decrease (%)
Total assets (RMB) 5,811,754,243.00 7,091,853,104.80 -18.05%
Owners’ equity attributable to
shareholders of listed company (RMB) 3,757,681,462.79 3,541,234,661.44 6.11%
Share capital (share) 994,864,800.00 994,864,800.00 0.00%
Net assets per share attributable to
shareholders of listed company
(RMB/share)
3.78 3.56 6.18%
Jul.-Sep. 2009
Increase/
decrease (%)
Jan.-Sep. 2009
Increase/
decrease (%)
Total operation income (RMB) 1,096,950,656.81 7.40% 2,939,316,848.79 2.07%
Net profit attributable to shareholders
of listed company (RMB) 144,657,723.09 -14.30% 408,227,206.91 -17.85%
Net cash flows generated from
operating activities (RMB) - - 287,825,162.18 -69.12%
Net cash flows per share generated
from operating activities (RMB/share) - - 0.29 -73.64%
Basic earnings per share (RMB/share) 0.15 -25.00% 0.41 -30.51%
Diluted earnings per share
(RMB/share) 0.15 -25.00% 0.41 -30.51%
Return on net assets (%) 3.85% -2.84% 10.86% -8.83%
Rate of return on net assets after
deducting extraordinary gains and
losses (%)
3.58% -1.72% 11.63% -6.25%鲁泰纺织股份有限公司2009 年第三季度季度报告全文
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Unit: RMB Yuan
Extraordinary gains and losses
Amount from year-begin
to the end of this report
period
Remark
Gains and losses from disposal of non-current assets -101,047.15
Government grant measured into the current period gain and loss,
excluding those government grants closely related to the Company’s
business that the Company enjoyed continually at the certain standard
rating and in conformity with provisions of policies of the State
9,351,929.38
Gains and losses on change in fair value of tradable financial asses and
tradable financial liabilities except for effective hedging business related
with normal operation and business of the Company, and investment
income from disposal of tradable financial asses and tradable financial
liabilities and available-for-sale financial assets
-41,450,200.00
Other non-operating income and expenses besides the above items 11,445,964.50
Impact on income tax -8,258,172.02
Impact on minority interests 246,651.82
Total -28,764,873.47 -
2.2 Total number of shareholders at the end of the report period and statement on shares held by the
top ten shareholders holding shares not subject to trading moratorium
Unit: Share
Total number of shareholders 131,334
Shares held by the top ten shareholders holding shares not subject to trading moratorium
Name of shareholder Number of shares not subject to
trading moratorium Type of share
Zibo Lucheng Textile Investment Co., Ltd. 24,956,700 RMB ordinary shares
DBS VICKERS (HONG KONG) LTD A/C
CLIENTS 40,976,252 Domestically listed
foreign shares
Guotai Jinma Stable Return Securities Investment
Fund 18,677,772 RMB ordinary shares
Desheng Select Stock Securities Investment Fund 9,000,000 RMB ordinary shares
National Social Security Fund 106 Combination 8,081,029 RMB ordinary shares
Changsheng Tongqing Separated Stock Securities
Investment Fund 5,999,838 RMB ordinary shares
Fortune SGAM Advanced Growth Stock Securities
Investment Fund 5,997,453 RMB ordinary shares
Baoying Strategy Growth Stock Securities
Investment Fund 5,400,000 RMB ordinary shares
Fuligoal Tianrui Strong Area Select Mixed
Open-end Securities Investment Fund 4,773,599 RMB ordinary shares
Greatwall Jiufu Core Growth Stock Fund (LOF) 4,620,450 RMB ordinary shares鲁泰纺织股份有限公司2009 年第三季度季度报告全文
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§3. Significant Events
3.1 Particulars about major changes of items and financial indexes of the main accounting
statements, as well as the reasons for changes
√Applicable □Inapplicable
1. Closing balance of monetary fund has decreased by 73.86% compared with the opening balance,
which was mainly because the Company issued RMB common shares (A shares) amounting to 150
million shares on 8 Dec. 2008, from which raised capital have been used mostly.
2. Closing balance of prepayment has decreased by 50.71% compared with the opening balance,
which caused by goods received offsetting prepayment.
3. Closing balance of other receivables has increased by 58.81% compared with the opening balance,
which was due to that Xinjiang Luthai paying agricultural payment before due to cotton farmers.
4. Closing balance of project in construction has decreased by 69.85% compared with the opening
balance due to application of invested assets.
5. Closing balance of engineering material has increased by 56.57% compared with the opening
balance due to increase of equipments purchased in the reporting period.
6. Closing balance of short-term loan has decreased by 61.01% compared with the opening balance
due to borrowing returned.
7. Closing balance of transaction financial liabilities has increased by 326.47% compared with the
opening balance due to change in fair value of transaction financial liabilities.
8. Closing balance of notes payable has decreased by 49.67% compared with the opening balance
due to that the Company paid matured note during the reporting period.
9. Closing balance of accounts payable has decreased by 38.87% compared with the opening balance,
which was because the Company paid the payment for raw materials in the reporting period.
10. Closing balance of tax payable has increased by 172.35% compared with the opening balance due
to increase of individual income tax and corporate income tax at the end of reporting period.
11. Closing balance of interest payable has increased by 309.23% compared with the opening balance
due to that the Company withdrew interests in the reporting period.
12. Closing balance of non-current liabilities due within one year has increased by 261.99%
compared with the opening balance due to increased in long-term borrowing due within one year.
13. Closing balance of long-term borrowing has decreased by 76.16% compared with the opening
balance, which was because the borrowing is due within one year and was transferred into
non-current liabilities due within one year.
14. Administrative expense has increased by 57.10% year-on-year due to increase in R&D input.
15. Financial expense has increased by 184.57% year-on-year due to reduction in exchange gain.
16. Impairment assets has decreased by 104.39% year-on-year due to decrease in assets impairment
withdrawn in the reporting period.
17. Gain from change in fair value has decreased by 1382.14% year-on-year due to change in fair
value of transaction financial liabilities.
18. Gain from investment has increased by 313.75% year-on-year due to increase in investment
income from transaction financial assets.
19. Operating income has decreased by 61.91% year-on-year, which was due to reduction of
government grant received by the Company.
20. Income tax expense has decreased by 38.87% year-on-year, which was because of decrease of
total profit compared with last reporting period, as a result, reduction in income tax expense.鲁泰纺织股份有限公司2009 年第三季度季度报告全文
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3.2 Progress and influence of significant events, as well as the analysis on solutions
□Applicable √Inapplicable
3.3 Execution of commitments made by the Company, shareholders and actual controller
√Applicable □Inapplicable
Commitments made Contents of commitment Execution
Commitment on share reform
The Company will not sold within 60 months
after share merger reform; sold price will not
low than RMB 15 Yuan/share within 24 months
after expiration (weight disposal will be adopted
in case that share capital changes); proposed at
the Annual Shareholders’ General Meeting 2006
and 2007 that cash distribution proportion will
not low than 50% of distributable profit realized
in current year, and voted for; purchase Lu Thai
A-share with dividend of 2005 and 2006 in
secondary market within 12 months when the
dividend was received. Growth range of total
profit in 2008 will not low than 30% over 2005.
Bonus shares of 2005 and
2006 had been executed.
Total profit in 2008
increased 58.06% over
2005. And Other
commitment was in
progress of
implementation.
Commitments concerning share trading
moratorium
The Company will not reduce the holding
shares within 60 months after share merger
reform, within 24 months after expiration, the
price of sold shares shall not be lower than
RMB 15 per share (if the share capital changes,
ex-rights will be conducted)
Under execution
Commitments made in the purchase
report or the report on equity changes None None
Commitments made in major assets
restructuring None None
Commitments made in stock issuance
Investment projects promised by the Company
when issuing A shares additionally in 2008: 1.
Project on 150-thousand Ingot Top-grade Fine
Combed Yarns; 2. 5,000 Ingot two-for-one
production line Project; 3. Project on
Establishment of brand and marketing network;
4. Project on Supplementing Current Capital; 5.
Production Line Project for 10-million-meter
Top-grade Jacquard Fabrics for Women’s Wear.
Project 1 and 4 has been
completed, except for
this, other projects was in
progress.
Other commitments (including
additional commitments) None None
3.4 Warnings of possible losses or major changes of the accumulative net profit achieved during the
period from year-begin to the end of the next report period compared with the same period of last
year, as well as explanation on reasons
□Applicable √Inapplicable
3.5 Other significant events that need to be explained
None
3.5.1 Researches, interviews and visits received in report period
Date Place Way of
reception Visitor Main discussion and materials
provided by the Company鲁泰纺织股份有限公司2009 年第三季度季度报告全文
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13 Jul. 2009
Company
reception
room
Field
investigations
Zhong Wenxue and Zhao Ruoqiong of
Minsheng Securities Co., Ltd.
Basic situation of the
company
13 Jul. 2009
Company
reception
room
Field
investigations
Gao Fei of Shanghai Chaos Assets
Management Co., Ltd.
Basic situation of the
company
13 Jul. 2009
Company
reception
room
Field
investigations
Hua Jindong of Northeast Securities
Co., Ltd.
Basic situation of the
company
3.6 Derivatives investments
√Applicable □Inapplicable
Analysis on risks and control
measures of holding
positions of derivatives in
the report period (including
but not limited to market
risk, liquidity risk, credit
risk, operation risk, law risk,
etc.)
In the reporting period, explanation on the hedging business of forward settlement
and surrender exchange launched by the Company
I. Position of derivatives investments at the end of reporting period
During the reporting period, derivatives investments launched by the Company is
hedging business of forward settlement and surrender exchange. As at the end of
reporting period, forward settlement of exchange not yet due was about USD 393
million.
II. During the reporting period, delivery of derivatives investments and earnings
During the reporting period, forward settlement of exchange that was due totaled to
USD 99 million, including amount for delivery on schedule totaling to USD 36
million, earnings achieved amounting to RMB 372,900, rollover amount of USD 63
million, loss amounting to RMB 740,000 shall be reduced after extension.
III. analysis on risk control measures concerning position of derivatives investments
Persisting in hedging as purpose when the Company carried out forward settlement of
exchange, the forward hedging shall be operated by installments, relevant amount is
not more than the amount fro collect foreign exchange planned by the Company, and
all hedging business is zero-margin. Meanwhile, the Company set up a completed risk
control system, and make sufficiently analysis and precaution to possible risk on laws
and regulations, credit risk, operation risk and market risk.
1. Risk on laws and regulations
Hedging business launched by the Company must abide by the laws and regulations
of the state related to hedging, as well as the provisions of stock exchange, at the
same time, definitely promise the rights and obligations between the Company and
bank.
Precaution measure: the Company seriously studied and grasped relevant laws,
regulations and market regulations, and drew up the internal control management
system of derivatives investments, strengthened accuracy inspection, and strictly
abided by relevant provision of laws and regulations and internal control management
system of the Company.
2. Credit risk and liquidity risk
Hedging business developed by the Company was carried out on the basis of contract
of forward settlement of exchange signed between the Company and bank, the
delivery on schedule or extension is recognized based on one of the contract price and
exchange tendency after such contract of forward settlement of exchange falls due, no
default risk exists in the Company so as to ensure delivery on schedule or extension.
Precaution measure: the Company formulated the internal control management
system for hedging of forward settlement of exchange, in which the appropriate
authorization system shall be set out, and amount for hedging shall be confirmed by
installments in accordance with the production and operation scale and exchange
revenue progress, and ensure no credit risk and liquidity risk occurred by means of
extension at the specified date.鲁泰纺织股份有限公司2009 年第三季度季度报告全文
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3. Operation risk
Faulty internal progress, employees, as well as system and external matters resulted in
risk as well in the course of hedging, including employee risk, process risk, system
risk and external risk.
Precaution measure: the Company set up stringent authorization and approval system,
stipulated organization, business operating process and examination and approval
process, and perfect regulation can reduce the operation risk effectively.
4. Market risk
In the operation of hedging of forward settlement and surrender exchange, if the
RMB is devalued by a large margin on the basis of the current situation before the
contract is due, so then, the larger losses shall incur in the contract on forward
settlement of exchange signed by the Company.
Risk analysis and precaution measure: at present, in face of the appreciation pressure
on Renminbi, there was no risk on large devaluation of the RMB before the contract
is due signed by the Company. According to price quoted from each bank, the RMB
shows appreciation tendency within a narrow range within 1 year, thus, gain on
change in fair value shall occur in the forward contract signed by the Company.
Changes of market prices or
fair values in the report
period of the invested
derivatives, and the analysis
on the fair value of the
derivatives should include
how to use, and the relevant
assumptions and parameters
In the reporting period, loss on change in fair value of invested derivatives amounted
to RMB 42,595,400.00.
Fair value of derivatives is recognized in accordance with market quoted price of
forward selling of foreign exchange from the Bank.
Whether significant changes
happened to the Company’s
accounting policy and
specific accounting
principles of the derivatives
in the report period
compared with the last report
period
Compared with the last reporting period, no significant changes took place in the
Company’s accounting policy and specific accounting principles of derivatives.
Specific opinion from
independent directors,
sponsors or financial
consultants on the
Company’s derivatives
investment and risk control
Independent opinions from the independent directors of Lu Thai Textile Co., Ltd. on
the Company’s hedging business of forward purchase/sale of foreign currencies
Concerning the Company’s hedging business of forward purchase/sale of foreign
currencies, the Company’s independent directors Zhou Zhiji, Li Zhixian, Qi Haodong,
Bi Xiuli and Wang Lei issued their professional opinions as follows:
1. When operating its hedging business of forward purchase/sale of foreign
currencies, the Company went through relevant approving procedures, which was in
line with relevant laws, regulations and the Company’s Articles of Association.
2. Concerning its hedging business of forward purchase/sale of foreign currencies, the
Company established and improved its relevant internal control systems such as the
organization structure, the business operation flow and the approving procedures,
which was effectively executed.
3. On the basis of its normal operation, the Company used its own funds to conduct
the hedging business of forward purchase/sale of foreign currencies, which could help
the Company avoid the risk of RMB exchange rate changes and improve the
Company’s resistance ability to exchange rate fluctuations. Such a move of the
Company would do no harm to the interest of the Company and its shareholders.鲁泰纺织股份有限公司2009 年第三季度季度报告全文
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4. In the report period, the Company operated its hedging business of forward
purchase/sale of foreign currencies in strict compliance with relevant laws,
regulations, the Company’s Articles of Association and the Company’s Internal
Control System on Hedging Business of Forward Purchase/Sale of Foreign
Currencies.
To sum up, we were of the opinion that it would strengthen the Company’s
competitiveness to use the hedging business of forward purchase/sale of foreign
currencies as an effective tool to avoid foreign exchange risks, to strengthen the
relevant internal control and to carry out the loss and risk prevention measures so as
to improve the operation and management. It was considered feasible for the
Company to conduct the hedging business of forward purchase/sale of foreign
currencies and the relevant risks were controllable.
Inspection opinions from Guotai Junan Securities Co., Ltd. on the hedging business of
forward purchase/sale of foreign currencies of Lu Thai Textile Co., Ltd.:
When conducting the hedging business of forward purchase/sale of foreign
currencies, the Company went through the relevant approving procedures, which was
in line with relevant laws, regulations and the Company’s rules; The Company
conducted the hedging business of forward purchase/sale of foreign currencies so as
to cover possible loss on speculative investments; Concerning its hedging business of
forward purchase/sale of foreign currencies, the Company established and improved
its relevant internal control systems such as the organization structure, the business
operation flow and the approving procedures, which was effectively executed; On the
basis of its normal operation, the Company used its own funds to conduct the hedging
business of forward purchase/sale of foreign currencies, which could help the
Company avoid the risk of RMB exchange rate changes and improve the Company’s
resistance ability to exchange rate fluctuations. Such a move of the Company would
do no harm to the interest of the Company and its shareholders.
3.6.1 Position of derivatives investments as at the end of reporting period
√Applicable □Inapplicable
Unit: RMB Yuan
Type of contract Maturing date of contract Contract amount at
period-begin
Contract amount at
period-end
Proportion of the contract
amount at period-end in
the Company’s net assets
at period-end
Forward settlement
of exchange Oct. 2009-Jul. 2010 2,665,567,800.00 2,603,026,600.00 69.27%
Total - 2,665,567,800.00 2,603,026,600.00 69.27%
§ 4 Attachments
4.1 Balance sheet
Prepared by Luthai Textile Co., Ltd. Sep. 30, 2009 Unit: RMB Yuan
Closing balance Opening balance
Items
Consolidation Parent company Consolidation Parent company
Current assets:
Monetary funds 298,303,440.46 164,535,136.04 1,141,056,407.10 884,493,526.89
Transaction financial asset
Notes receivable 114,051,803.30 95,620,313.04 115,766,743.82 88,437,756.14
Account receivable 160,801,406.83 153,453,227.89 134,272,568.99 137,704,448.03
Account paid in advance 42,725,107.02 368,790,353.86 86,680,244.30 442,840,255.08
Dividend receivable 552,121.45 552,121.45
Other accounts receivable 104,995,442.02 18,884,733.02 66,112,475.26 57,153,026.22鲁泰纺织股份有限公司2009 年第三季度季度报告全文
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Financial assets purchased under
agreements to resell
Inventories 1,066,310,859.50 865,676,581.33 1,370,058,113.59 966,434,830.65
Non-current assets due within 1
year
Other current assets
Total current assets 1,787,188,059.13 1,667,512,466.63 2,913,946,553.06 2,577,615,964.46
Non-current assets:
Held to maturity investments
Long-term account receivable
Long-term equity investment 897,482,752.85 840,477,933.96
Investing property
Fixed asset 3,679,713,275.86 2,170,439,732.46 3,728,662,446.22 2,137,168,614.91
Project in construction 48,778,531.35 36,460,815.11 161,798,386.96 152,673,189.70
Engineering material 9,357,852.25 9,357,852.25 5,976,824.75 5,976,824.75
Intangible assets 230,995,689.09 117,330,239.04 227,300,618.82 120,808,081.41
Goodwill 20,563,803.29 20,563,803.29
Long-term deferred expense
Deferred tax assets 35,157,032.03 18,653,663.86 33,604,471.70 9,343,313.86
Other non-current assets
Total of non-current assets 4,024,566,183.87 3,249,725,055.57 4,177,906,551.74 3,266,447,958.59
Total assets 5,811,754,243.00 4,917,237,522.20 7,091,853,104.80 5,844,063,923.05
Current liabilities:
Short-term borrowings 769,835,963.93 224,309,906.43 1,974,333,875.02 924,333,875.02
Transaction financial liabilities 81,779,000.00 67,909,400.00 19,175,600.00 5,840,400.00
Notes payable 164,522,637.25 446,362,433.81 326,906,148.43 764,122,919.05
Account payable 189,130,770.24 173,761,570.94 309,404,705.97 177,966,339.10
Account received in advance 40,359,096.86 19,461,332.92 31,742,845.89 14,267,650.87
Employees’ compensation
payable 184,689,055.34 156,392,042.22 225,950,673.18 193,302,167.29
Tax payable 19,013,095.88 10,550,482.77 -26,278,169.38 -37,631,581.33
Interest payable 346,339.10 346,339.10 84,631.63 84,631.63
Dividend payable
Other account payable 82,431,838.28 14,717,980.50 86,031,960.95 16,770,298.20
Non-current liabilities due within
1 year 188,897,300.00 188,897,300.00 52,183,370.00 52,183,370.00
Other current liabilities
Total current liabilities 1,721,005,096.88 1,302,708,788.69 2,999,535,641.69 2,111,240,069.83
Non-current liabilities:
Long-term borrowings 71,170,440.00 71,170,440.00 298,510,560.00 298,510,560.00
Debentures payable
Long-term payables 9,735,560.00 9,735,560.00
Deferred tax liabilities 407,079.65 407,449.26
Other non-current liabilities 2,673,445.33 2,673,445.33
Total non-current liabilities 83,986,524.98 71,170,440.00 311,327,014.59 298,510,560.00
Total liabilities 1,804,991,621.86 1,373,879,228.69 3,310,862,656.28 2,409,750,629.83
Owner’s equity (shareholders
equity)鲁泰纺织股份有限公司2009 年第三季度季度报告全文
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Paid-in capital(Share capital) 994,864,800.00 994,864,800.00 994,864,800.00 994,864,800.00
Capital reserve 1,135,350,952.80 1,125,522,201.27 1,128,135,713.77 1,125,522,201.27
Less: Treasury Stock
Specific reserves
Surplus reserve 330,662,535.20 330,662,535.20 330,662,535.20 330,662,535.20
General risk provision
Retained earnings 1,300,244,560.13 1,092,308,757.04 1,090,990,313.22 983,263,756.75
Foreign exchange difference -3,441,385.34 -3,418,700.75
Total equity attributable to owners
of parent company 3,757,681,462.79 3,543,358,293.51 3,541,234,661.44 3,434,313,293.22
Minority interest 249,081,158.35 239,755,787.08
Total owner’s equity 4,006,762,621.14 3,543,358,293.51 3,780,990,448.52 3,434,313,293.22
Total liabilities and owner’s
equity 5,811,754,243.00 4,917,237,522.20 7,091,853,104.80 5,844,063,923.05
4.2 Income statement during the reporting period
Prepared by Luthai Textile Co., Ltd. Jul.-Sep. 2009 Unit: RMB
Current period Same period of last year
Items
Consolidation Parent company Consolidation Parent company
I. Total sales 1,096,950,656.81 824,565,255.56 1,021,375,854.19 846,868,067.92
Including: Sales 1,096,950,656.81 824,565,255.56 1,021,375,854.19 846,868,067.92
II. Total cost of sales 890,753,705.25 704,965,523.35 858,713,383.94 704,836,469.06
Including: Cost of sales 739,134,333.66 607,723,316.09 765,171,428.20 663,747,169.67
Business taxes and surcharges 912,761.93 598,391.75
Distribution expenses 36,665,827.65 12,492,880.71 37,930,648.33 15,031,427.03
Administrative expenses 98,435,099.99 74,428,896.57 56,989,592.66 37,157,341.84
Financial costs 15,605,682.84 10,320,429.98 1,554,561.14 -11,099,469.48
Impairment loss -0.82 -3,531,238.14
Add: gain/(loss) from change in fair value -42,150,100.00 -35,586,500.00 -1,994,550.00
Gain/(loss) from investment (“-” means loss) 372,900.00 1,081,500.00 2,689,200.00
Including: gain from Investment in affiliated
enterprises and joint venture enterprises
Exchange gain
III. Business profit (“-” means loss) 164,419,751.56 85,094,732.21 163,357,120.25 142,031,598.86
Add: non-business income 14,679,193.13 3,125,598.39 50,653,747.00 20,980,781.29
Less: non-business expense 1,798,979.36 726,043.49 1,363,770.00 795,941.54
Including: Loss on disposal of non-current assets
IV. Total profit (“-” means loss) 177,299,965.33 87,494,287.11 212,647,097.25 162,216,438.61
Less: Income tax expense 21,795,269.38 10,687,909.26 36,116,231.15 23,656,912.11
V. Net profit (“-” means loss) 155,504,695.95 76,806,377.85 176,530,866.10 138,559,526.50
-Attributable to parent company 144,657,723.09 76,806,377.85 168,791,171.18 138,559,526.50
-Minority interest 10,846,972.86 7,739,694.92
VI. Earnings per share
(I) Basic earnings per share 0.15 0.08 0.20 0.16
(II) Diluted earnings per share 0.15 0.08 0.20 0.16
VII. Other comprehensive income -11,603.28 -90,181.41
VIII. Total comprehensive income 155,493,092.67 76,806,377.85 176,440,684.69 138,559,526.50鲁泰纺织股份有限公司2009 年第三季度季度报告全文
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Total comprehensive income attributable to owner
of parent company 144,646,119.81 76,806,377.85 168,700,989.77 138,559,526.50
Total comprehensive income attributable to
minority shareholders 10,846,972.86 7,739,694.92
4.3 Income statement from the year-begin to the end of reporting period
Prepared by Luthai Textile Co., Ltd. Jan.-Sep. 2009 Unit: RMB
Current period Same period of last year
Items
Consolidation Parent company Consolidation Parent company
I. Total sales 2,939,316,848.79 2,342,770,094.79 2,879,590,372.64 2,423,849,200.24
Including: Sales 2,939,316,848.79 2,342,770,094.79 2,879,590,372.64 2,423,849,200.24
II. Total cost of sales 2,439,010,426.56 1,984,688,499.91 2,347,109,459.71 1,956,317,661.34
Including: Cost of sales 2,061,508,532.41 1,772,722,594.53 2,083,783,161.05 1,852,912,608.12
Business taxes and surcharges 2,497,977.97 2,235,761.26
Distribution expenses 104,250,927.95 33,698,431.41 98,879,378.06 35,507,600.45
Administrative expenses 217,758,495.85 147,829,353.87 138,614,063.99 82,953,918.31
Financial costs 53,209,774.76 30,438,120.10 18,698,441.92 -15,056,465.54
Impairment loss -215,282.38 4,898,653.43
Add: gain/(loss) from change in fair value -62,603,400.00 -62,069,000.00 -4,223,850.00
Gain/(loss) from investment (“-” means loss) 21,153,200.00 49,949,289.21 5,112,500.00
Including: gain from Investment in affiliated
enterprises and joint venture enterprises
Exchange gain
III. Business profit (“-” means loss) 458,856,222.23 345,961,884.09 533,369,562.93 467,531,538.90
Add: non-business income 25,318,219.90 6,830,575.74 66,462,025.20 29,764,078.40
Less: non-business expense 4,621,373.17 1,884,421.92 3,751,677.67 1,697,115.62
Including: Loss on disposal of non-current assets
IV. Total profit (“-” means loss) 479,553,068.96 350,908,037.91 596,079,910.46 495,598,501.68
Less: Income tax expense 56,702,536.44 42,890,077.62 92,752,322.49 63,520,049.67
V. Net profit (“-” means loss) 422,850,532.52 308,017,960.29 503,327,587.97 432,078,452.01
-Attributable to parent company 408,227,206.91 308,017,960.29 496,921,013.12 432,078,452.01
-Minority interest 14,623,325.61 6,406,574.85
VI. Earnings per share
(I) Basic earnings per share 0.41 0.31 0.59 0.51
(II) Diluted earnings per share 0.41 0.31 0.59 0.51
VII. Other comprehensive income -22,684.59 -940,884.39
VIII. Total comprehensive income 422,827,847.93 308,017,960.29 502,386,703.58 432,078,452.01
Total comprehensive income attributable to owner
of parent company 408,204,522.32 308,017,960.29 495,980,128.73 432,078,452.01
Total comprehensive income attributable to
minority shareholders 14,623,325.61 6,406,574.85
4.4 Cash flow statement from the year-begin to the end of reporting period
Prepared by Luthai Textile Co., Ltd. Jan.-Sep. 2009 Unit: RMB
Current period Last period
Items
Consolidation Parent company Consolidation Parent company鲁泰纺织股份有限公司2009 年第三季度季度报告全文
11
I. Cash flows from operating activities
Cash received from sales of goods or
rending of services 2,700,685,266.77 2,339,360,044.59 3,194,303,285.50 2,541,524,039.80
Tax returned 100,165,881.65 76,657,777.67 41,623,183.08 24,705,083.54
Other cash received from operating
activities 71,739,387.16 43,393,656.02 79,385,160.59 53,743,413.65
Sub-total of cash inflow from operating
activities 2,872,590,535.58 2,459,411,478.28 3,315,311,629.17 2,619,972,536.99
Cash paid for goods and services 1,860,823,450.07 1,580,708,520.88 1,728,252,906.19 1,526,016,965.81
Cash paid to and for employees 461,045,341.13 359,153,942.29 435,883,840.76 342,786,387.30
Cash paid for all types of taxes 93,076,587.26 23,244,354.26 155,849,261.09 107,244,228.65
Other cash paid relating to operating
activities 169,819,994.94 93,259,910.54 63,270,451.67 108,305,900.88
Sub-total of cash outflows 2,584,765,373.40 2,056,366,727.97 2,383,256,459.71 2,084,353,482.64
Net cash outflow in operating activities 287,825,162.18 403,044,750.31 932,055,169.46 535,619,054.35
II. Cash Flows from Investing Activities
Cash received from return of investments
Cash received from investment income 11,261,500.00 11,261,500.00
Net cash received from disposal of fixed
assets, intangible assets and other long-term
assets
2,133,921.33 2,123,421.33 253,278.56 253,278.56
Net cash received from disposal of
subsidiaries and other operating units
Other cash received relating to investing
activities 4,370,510.37 3,002,730.37 3,464,152.39 2,424,570.32
Sub-total of cash inflows of investing
activities 17,765,931.70 16,387,651.70 3,717,430.95 2,677,848.88
Cash paid for acquisition of fixed assets,
intangible assets and other long-term assets 142,769,311.96 76,278,854.94 379,108,073.77 186,247,679.59
Cash paid for acquisition of investments 44,104,374.21 100,000,000.00
Net increase of pledge loans
Net cash paid for acquisition of
subsidiaries and other operating units
Other cash paid relating to investing
activities 3,000,000.00
Sub-total of cash outflows of investing
activities 142,769,311.96 120,383,229.15 379,108,073.77 289,247,679.59
Net cash inflow from investing activities -125,003,380.26 -103,995,577.45 -375,390,642.82 -286,569,830.71
III. Cash Flows from Financing Activities:
Cash received from investment 14,063,400.91
Including: Cash received from minority
shareholders of subsidiaries
Cash received from borrowings 966,486,541.87 375,960,484.37 2,159,599,262.04 1,845,160,862.04
Cash received from bonds issuing
Cash received relating to financing
activities 17,005,685.30
Sub-total of cash inflows of financing
activities 997,555,628.08 375,960,484.37 2,159,599,262.04 1,845,160,862.04
Cash paid for repayments of borrowings 1,769,757,408.13 1,198,757,408.13 2,008,642,810.54 1,423,236,505.39
Cash paid for dividends, profit
distribution or interest 242,720,896.49 212,371,728.88 222,331,626.21 186,255,193.34
Including: dividends or profits paid to鲁泰纺织股份有限公司2009 年第三季度季度报告全文
12
minority shareholders by subsidiaries
Other cash paid relating to financing
activities
Sub-total of cash outflows of financing
activities 2,012,478,304.62 1,411,129,137.01 2,230,974,436.75 1,609,491,698.73
Net cash inflow from financing activities -1,014,922,676.54 -1,035,168,652.64 -71,375,174.71 235,669,163.31
IV. Effect of foreign exchange rate changes 9,347,927.98 16,161,088.93 107,057,232.85 92,559,229.47
V. Net decrease in cash and cash equivalents -842,752,966.64 -719,958,390.85 592,346,584.78 577,277,616.42
Add : Opening amount of cash and cash
equivalents 1,141,056,407.10 884,493,526.89 330,766,143.96 177,334,931.66
VI. Closing balance of cash and cash
equivalents 298,303,440.46 164,535,136.04 923,112,728.74 754,612,548.08
4.5 Auditor’s report
Audit opinion: Un-audited
Luthai Textile Co., Ltd.
Legal representative; Liu Shizhen
27 Oct. 2009
