Lu Thai Textile Co., Ltd. Third Quarter Report 2018
LU THAI TEXTILE CO., LTD.
THIRD QUARTER REPORT 2018
October 2018
1
Lu Thai Textile Co., Ltd. Third Quarter Report 2018
Part I Important Notes
The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors,
supervisors and senior management of Lu Thai Textile Co., Ltd. (together with its
consolidated subsidiaries, the “Company”, except where the context otherwise requires)
hereby guarantee the factuality, accuracy and completeness of the contents of this Report and
its summary, and shall be jointly and severally liable for any misrepresentations, misleading
statements or material omissions therein.
All the Company’s directors have attended the Board meeting for the review of this Report
and its summary.
Liu Zibin, the Company’s legal representative, Zhang Hongmei, the Company’s Chief
Accountant, and Zhang Keming, the Company’s Financial Manager hereby guarantee that
the financial statements carried in this Report are factual, accurate and complete.
This Report and its summary have been prepared in both Chinese and English. Should there
be any discrepancies or misunderstandings between the two versions, the Chinese versions
shall prevail.
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Lu Thai Textile Co., Ltd. Third Quarter Report 2018
Part II Key Corporate Information
I Key Consolidated Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
√ Yes □ No
Reason
Business combination under common control
31 December 2017 Change (%)
30 September 2018
Before Restated Restated
Total assets (RMB) 10,568,327,014.46 10,170,624,027.75 10,170,624,027.75 3.91%
Equity attributable to the listed company’s
7,011,958,543.23 7,230,942,770.16 7,230,942,770.16 -3.03%
shareholders (RMB)
Q3 2018 YoY change (%) Q1-Q3 2018 YoY change (%)
Operating revenue (RMB) 1,743,184,011.30 6.51% 5,023,591,787.12 8.42%
Net profit attributable to the listed company’s
209,540,056.51 5.32% 586,896,015.53 -1.21%
shareholders (RMB)
Net profit attributable to the listed company’s
224,130,296.96 23.91% 590,563,214.17 4.01%
shareholders before exceptional items (RMB)
Net cash generated from/used in operating
-- -- 1,123,152,616.75 35.24%
activities (RMB)
Basic earnings per share (RMB/share) 0.23 9.52% 0.64 0.00%
Diluted earnings per share (RMB/share) 0.23 9.52% 0.64 0.00%
Weighted average return on equity (%) 2.95% 0.10% 8.08% -0.35%
Exceptional gains and losses:
√ Applicable □ Not applicable
Unit: RMB
Item Q1-Q3 2018 Note
Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs) 21,673,765.75
Government subsidies charged to current profit or loss (exclusive of government subsidies
given in the Company’s ordinary course of business at fixed quotas or amounts as per 48,811,115.56
government’s uniform standards)
Gain or loss on fair-value changes in trading financial assets and liabilities & investment
income from disposal of trading financial assets and liabilities and available-for-sale
-59,714,283.60
financial assets (exclusive of effective portion of hedges that arise in the Company’s ordinary
course of business)
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Lu Thai Textile Co., Ltd. Third Quarter Report 2018
Non-operating income and expense other than above 3,616,214.59
Less: Income tax effects 10,405,601.73
Non-controlling interests effects (net of tax) 7,648,409.21
Total -3,667,198.64 --
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss
Items:
□ Applicable √ Not applicable
No such cases for the Reporting Period.
II Total Number of Shareholders and Holdings of Top 10 Shareholders at 30 September 2018
1. Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well as
Holdings of Top 10 Shareholders
Unit: share
Number of preferred shareholders with resumed
Number of ordinary shareholders 56,205 0
voting rights (if any)
Top 10 shareholders
Shareholdi Shares in pledge or
Nature of Number of Restricted
Name of shareholder ng frozen
shareholder shares shares
percentage Status Shares
Domestic
Zibo Lucheng Textile Investment Co., Ltd. non-state-owned 15.21% 140,353,583 0
legal person
Tailun (Thailand) Textile Co., Ltd. Foreign legal person 12.82% 118,232,400 118,232,400
Hong Kong Securities Clearing Co. Ltd Foreign legal person 3.33% 30,738,071
State-owned legal
Central Huijin Assets Management Co., Ltd. 2.20% 20,315,300
person
T.Rowe Price Intl Discovery Fund Foreign legal person 2.16% 19,948,219
Domestic
China Securities Finance Corporation Limited non-state-owned 1.98% 18,313,391
legal person
National Social Security Fund Portfolio 103 Other 1.30% 11,999,947
Hong Kong Monetary Authority Foreign legal person 1.22% 11,255,593
Hua’an New Silk Road Theme Equity
Other 0.85% 7,860,000
Securities Investment Fund
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Lu Thai Textile Co., Ltd. Third Quarter Report 2018
Bosera Selected Mixed Securities
Other 0.76% 6,991,034
Investment Fund
Top 10 unrestricted shareholders
Shares by type
Name of shareholder Unrestricted shares
Type Shares
RMB-denominated
Zibo Lucheng Textile Investment Co., Ltd. 140,353,583 140,353,583
ordinary stock
RMB-denominated
Hong Kong Securities Clearing Co. Ltd 30,738,071 30,738,071
ordinary stock
RMB-denominated
Central Huijin Assets Management Co., Ltd. 20,315,300 20,315,300
ordinary stock
Domestically listed
T.Rowe Price Intl Discovery Fund 19,948,219 19,948,219
foreign stock
RMB-denominated
China Securities Finance Corporation Limited 18,313,391 18,313,391
ordinary stock
RMB-denominated
National Social Security Fund Portfolio 103 11,999,947 11,999,947
ordinary stock
RMB-denominated
Hong Kong Monetary Authority 11,255,593 11,255,593
ordinary stock
Hua’an New Silk Road Theme Equity Securities Investment RMB-denominated
7,860,000 7,860,000
Fund ordinary stock
RMB-denominated
Bosera Selected Mixed Securities Investment Fund 6,991,034 6,991,034
ordinary stock
Domestically listed
Foreningen AP Invest F.M.B.A. 6,055,003 6,055,003
foreign stock
Zibo Lucheng Textile Investment Co., Ltd. is the largest
shareholder and the actual controller of the Company. Tailun
(Thailand) Textile Co., Ltd. is the second largest shareholder and
Related or acting-in-concert parties among shareholders above
the foreign sponsor of the Company. All the other shareholders are
holding tradable A-shares or B-shares. And it is unknown whether
there is any related party or acting-in-concert party among them.
Top 10 ordinary shareholders involved in securities margin
Naught
trading (if any)
Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary shareholders of the
Company conducted any promissory repo during the Reporting Period.
□ Yea √ No
No such cases in the Reporting Period.
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Lu Thai Textile Co., Ltd. Third Quarter Report 2018
2. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
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Lu Thai Textile Co., Ltd. Third Quarter Report 2018
Part III Significant Events
I Changes in Key Consolidated Financial Statement Items and Reasons for Such Changes
√ Applicable □ Not applicable
Asset items:
(1) Prepayments rose by RMB93.7771 million (or 64.03%) from the amount as at 31 December 2017 to RMB240,240,134.26 as at
30 September 2018, primarily driven by prepayments of subsidiary Xinjiang Luthai Fengshou Cotton Industry Co., Ltd. (hereinafter
referred to as “Xinjiang Luthai Fengshou”) for raw materials.
(2) Other receivables rose by RMB19.3907 million (or 34.15%) from the amount as at 31 December 2017 to RMB76,163,473.60 as
at 30 September 2018, primarily driven by advances paid by Xinjiang Luthai Fengshou for agricultural machinery purchased by
cotton farmers, etc.
(3) Other current assets declined by RMB62.7252 million (or 52.89%) from the amount as at 31 December 2017 to
RMB55,863,530.53 as at 30 September 2018, primarily driven by the withdrawal of capital under wealth management under trust
upon maturity in the current period.
(4) Long-term receivables rose by RMB0.6500 million (or 100.00%) from the amount as at 31 December 2017 to RMB650,000.00 as
at 30 September 2018, primarily driven by finance leases of equipment by Xinjiang Luthai Fengshou.
(5) Construction in progress rose by RMB336.7511 million (or 157.11%) from the amount as at 31 December 2017 to
RMB551,086,721.63 as at 30 September 2018, primarily driven by more investments and to-be-installed equipment in the second
phase of the Lu Thai (Vietnam) project.
(6) Other non-current assets declined by RMB11.1882 million (or 30.74%) from the amount as at 31 December 2017 to
RMB25,202,247.12 as at 30 September 2018, primarily driven by decrease in prepayments for equipment.
Liability and owners’ equity items:
(7) Short-term borrowings rose by RMB469.5821 million (or 41.37%) from the amount as at 31 December 2017 to
RMB1,604,707,428.77 as at 30 September 2018, primarily driven by more bank loans.
(8) Financial liabilities at fair value through profit or loss rose by RMB44.1122 million (or 100.00%) from the amount as at 31
December 2017 to RMB44,112,150.00 as at 30 September 2018, primarily driven by unsettled forward forex settlement contracts and
option contracts as at the end of the current period.
(9) Taxes payable rose by RMB35.0796 million (or 106.12%) from the amount as at 31 December 2017 to RMB68,134,645.51 as at
30 September 2018, primarily driven by increase in corporate income tax.
(10) Other payables rose by RMB86.6268 million (or 67.10%) from the amount as at 31 December 2017 to RMB215,730,155.67 as
at 30 September 2018, primarily driven by increase in loans borrowed by Zibo Xinsheng Thermal Power Co., Ltd. (a subsidiary of
the Company) from Zibo Lucheng Textile Investment Co., Ltd. (a shareholder of the Company).
(11) The current portion of non-current liabilities declined by RMB62.7503 million (or 100.00%) from the amount as at 31 December
2017 to RMB0.00 as at 30 September 2018, primarily driven by the repayment in the current period of Lu Thai (Vietnam)’s loans
due within one year.
(12) Long-term borrowings rose by RMB157.6117 million (or 100.00%) from the amount as at 31 December 2017 to
RMB157,611,749.70 as at 30 September 2018, primarily driven by the long-term loans taken out by Lu Thai (Vietnam) for the
expansion of its second phase.
(13) Treasury stock rose by RMB404.6624 million (or 100.00%) from the amount as at 31 December 2017 to RMB404,662,394.01
as at 30 September 2018, primarily driven by the B-share repurchase of the Company as the parent in the current period.
(14) Other comprehensive income rose by RMB52.1264 million (or 310.08%) from the amount as at 31 December 2017 to
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Lu Thai Textile Co., Ltd. Third Quarter Report 2018
RMB68,937,000.11 as at 30 September 2018, primarily driven by more gains from the translation of foreign-currency-denominated
financial statements due to exchange rate fluctuations.
Income statement items:
(15) Asset impairment loss rose by RMB1.6903 million (or 50.84%) to RMB5,015,397.48 during Q1~Q3 2018 compared to Q1~Q3
2017, primarily driven by increase in allowances for doubtful accounts in the current period.
(16) Other income rose by RMB15.0887 million (or 48.39%) to RMB46,267,401.20 during Q1~Q3 2018 compared to Q1~Q3 2017,
primarily driven by increase in government subsidies received during the ordinary course of business.
(17) Investment income declined by RMB22.7519 million (or 521.37%) to RMB-18,388,041.25 during Q1~Q3 2018 compared to
Q1~Q3 2017, primarily driven by greater losses on derivative investments during the current period.
(18) Gain on changes in fair value declined by RMB43.3158 million (or 5438.94%) to RMB-44,112,150.00 during Q1~Q3 2018
compared to Q1~Q3 2017, primarily driven by changes in the fair value of unsettled forward forex settlement contracts and option
contracts.
(19) Asset disposal income rose by RMB20.2843 million (or 687.84%) to RMB23,233,253.44 during Q1~Q3 2018 compared to
Q1~Q3 2017, primarily driven by increase in income from the disposal of non-current assets during the current period.
II Progress, Influence and Solutions Associated with Significant Events
√ Applicable □ Not applicable
During the Reporting Period, the Company executed the repurchase plan of partial B-share. As of 30 September 2018, the Company
accumulatively repurchased 51,948,701 shares accounting for 5.6307% of total capital. For more details, please refer to relevant
announcements on repurchase of the Company’s B-share.
Overview of significant events Disclosure date Announcement index
Report on Repurchase of Partial Report on Repurchase of Partial B-share of the Company on
16 May 2018
B-share of the Company www.cninfo.com.cn
Relevant announcements disclosed on Securities Times, Shanghai
Announcement on implementation
29 May 2018 Securities News, China Securities Journal, Hongkong Ta Kung Pao
of repurchase of B-share
and www.cninfo.com.cn.
Relevant announcements disclosed on Securities Times, Shanghai
Announcement on implementation
1 June 2018 Securities News, China Securities Journal, Hongkong Ta Kung Pao
of repurchase of B-share
and www.cninfo.com.cn.
Relevant announcements disclosed on Securities Times, Shanghai
Announcement on implementation
8 June 2018 Securities News, China Securities Journal, Hongkong Ta Kung Pao
of repurchase of B-share
and www.cninfo.com.cn.
Relevant announcements disclosed on Securities Times, Shanghai
Announcement on implementation
3 July 2018 Securities News, China Securities Journal, Hongkong Ta Kung Pao
of repurchase of B-share
and www.cninfo.com.cn.
Relevant announcements disclosed on Securities Times, Shanghai
Announcement on implementation
12 July 2018 Securities News, China Securities Journal, Hongkong Ta Kung Pao
of repurchase of B-share
and www.cninfo.com.cn.
Announcement on implementation Relevant announcements disclosed on Securities Times, Shanghai
26 July 2018
of repurchase of B-share Securities News, China Securities Journal, Hongkong Ta Kung Pao
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Lu Thai Textile Co., Ltd. Third Quarter Report 2018
and www.cninfo.com.cn.
Relevant announcements disclosed on Securities Times, Shanghai
Announcement on implementation
1 August 2018 Securities News, China Securities Journal, Hongkong Ta Kung Pao
of repurchase of B-share
and www.cninfo.com.cn.
Relevant announcements disclosed on Securities Times, Shanghai
Announcement on implementation
1 September 2018 Securities News, China Securities Journal, Hongkong Ta Kung Pao
of repurchase of B-share
and www.cninfo.com.cn.
III Commitments that the Company’s Actual Controller, Shareholders, Related Parties and
Acquirers, as well as the Company Itself and Other Parties, Failed to Fulfill on Time during
Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IV 2018 Annual Operating Performance Forecast
Warning of a forecast loss on or a forecast significant year-on-year change in net profit for year 2018, as well as explanation of why:
□ Applicable √ Not applicable
V Securities Investments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
VI Wealth Management Entrustment
√ Applicable □ Not applicable
Unit: RMB’0,000 (in RMB ten thousand yuan)
Type of wealth Outstanding amount
Funding source Principal Overdue amount
management before maturity
Other Self-funded 0 6,000 0
Total 0 6,000 0
High-risk wealth management entrustments with amounts that are individually significant, or with low security, low liquidity, or no
protection of the principal:
√ Applicable □ Not applicable
Unit: RMB’0,000
Type Refere Collec Throu Any Overvie
Way Expect Actual Impair
Type of Fundi Investme nce tion/pa gh plan w and
Princi Start End of ed gain/loss ment
Trustee of wealth ng nt with annual yment prescri for index to
pal date date paybac return in allowa
trustee manag source principal ized of bed further more
k (if Reportin nce (if
ement return gain/lo proced entrust informat
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Lu Thai Textile Co., Ltd. Third Quarter Report 2018
product (%) any) g Period ss in any) ure or ment ion (if
Report not any)
ing
Period
Accounts
Payme
receivabl
nt of
Gopher e bonds
18 princip
Asset Fund 18 between Tempo
Fixed-i Self-fu Dece al and
Manage corpor 3,000 Januar Guangdo 7.60% 228 N/A Yes rarily
ncome nded mber interes
ment ation y 2019 ng no
2017 t upon
Co., Ltd Chengxin
maturi
g and
ty
JDcom
Annua
l
payme
nt of
Gopher Granting interes
22 22
Asset Fund of trust ts and Tempo
Fixed-i Self-fu Dece Dece
Manage corpor 3,000 loans to payme 8.50% 255 N/A Yes rarily
ncome nded mber mber
ment ation HOME nt of no
2017 2019
Co., Ltd CREDIT princip
al
upon
maturi
ty
Total 6,000 -- -- -- -- -- -- 483 0 -- -- -- --
Wealth management entrustments with possible impairments including an expectedly unrecoverable principal:
□ Applicable √ Not applicable
VII Investments in Derivative Financial Instruments
√ Applicable □ Not applicable
Unit: RMB’0,000
Ending
Impa
investme
Relati Relate irme
nt as % Actual
onship d-part Type Begin nt
Initial Purchased in Sold in of the gain/loss
Count with y of ning allo Ending
investment Start date End date Reporting Reporting Compan in
erparty the transac derivat invest wan investment
amount Period Period y’s Reporting
Comp tion or ive ment ce
ending Period
any not (if
net
any)
assets
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Lu Thai Textile Co., Ltd. Third Quarter Report 2018
Forwa
rd
Comm Non-c 22
exchan 25 January
ercial onnect No 67,367.6 February 0 67,367.6 48,284.94 19,082.66 2.51% -636.85
ge 2019
bank ed 2018
settle
ment
Foreig
Comm Non-c n 30
4 January
ercial onnect No exchan 225,451.86 November 19,800 205,651.86 172,327.07 53,124.79 6.99% -1,118.58
2019
bank ed ge 2017
option
Forwa
rd
Comm Non-c
exchan 14 March 8 February
ercial onnect No 27,868.4 0 27,868.4 23,486.9 4,381.5 0.58% -165.35
ge 2018 2019
bank ed
transac
tions
Foreig
Comm Non-c n
21 March 11 April
ercial onnect No exchan 5,925.81 0 5,925.81 5,925.81 0 0.00% 3.95
2018 2018
bank ed ge
swap
Total 326,613.67 -- -- 19,800 306,813.67 250,024.72 76,588.95 10.08% -1,916.83
Funding source Self-funded
Legal matters involved (if
N/A
applicable)
Disclosure date of board
announcement approving 25 April 2018
derivative investment (if any)
The Company conducted derivatives products transaction in order for hedging. And the forward settlement
hedging was operated by installments, with the relevant amount not more than the planned derivatives products
transactions. And all derivatives products transaction was zero-deposit. Meanwhile, the Company had a
Analysis of risks and control
complete risk control system for sufficient analysis and prevention of possible risks such as market risk,
measures associated with
liquidity risk and credit risk, operation risk and risk of laws and regulation.
derivative investments held in
1. Market risk: when the international and domestic economic situations change, the corresponding changes in
Reporting Period (including
exchange rates and interest rates may have an adverse impact on the financial derivatives transactions of the
but not limited to market risk,
Company. Precautionary measures to be taken include: the Company chooses risk-controlled financial
liquidity risk, credit risk,
derivative tools with simple structure and good liquidity to carry out the hedging business, strictly controls the
operational risk, legal risk,
scale of financial derivatives trading by staged operations, and adjusts the strategy according to market
etc.)
changes in a timely manner.
2. Liquidity risk and credit risk: a credit risk arising from failure of the contractually due Company or
counterparty in performing the contract due to liquidity or factors other than liquidity. Precautionary measures
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Lu Thai Textile Co., Ltd. Third Quarter Report 2018
to be taken include: the Company determines the upper limit of derivatives transaction amounts according to
production and operation scale as well as foreign exchange income, and conducts operations by stage
according to the budget of future collections and disbursement. The derivative trades are free of guarantee
deposit and can still be guaranteed in performance after the contract expires by means of extension and balance
settlement etc. to prevent the Company from credit damages due to lack of liquidity. The Company selects
financial institutions with strong capability and good reputation as a counterparty and signs standard derivative
trading contracts to strictly control credit risk of the counterparty.
3. Operation risk:
The derivatives had high specialty and complexity, so imperfect internal operation procedures, staffs and
external events would make the Company to undertake risks during the transaction. Risk control measures:
The Company promulgated strict authorization and approval system and perfect regulatory mechanism, fixed
the operation procedures and approval procedures system to conduct derivative products transaction,
established special risk control positions, implemented strict authorization and post checks and balances
system, meanwhile, it improved the overall quality of relevant personnel through strengthening the
professional ethics education and business training for them. Besides, it established the System of Reporting
the Abnormal Situation Timely so as to ensure to lower the operation risks to the maximum.
4. Risk of laws and regulation:
The Company conducted derivatives products transaction in strict accordance with relevant laws and rules. If
there were no standard operation procedures and strict approval procedures, it was easy to cause compliant and
regulatory risks existing in the validity and feasibility of contract, commitments and other legal documents
signed. Risk control measures: The Company carefully studied and mastered laws, regulations and policies
relevant to derivative products transaction, formulated internal control rules for the forward settlement hedging
business, standardized the operation procedures. And strengthened the compliant examination on derivative
products transaction business. The Company conducted derivative transaction business according to the
relevant approval procedure, which was in line with relevant laws, regulations, the Company’s Articles of
Association, the Management Rules for Derivative Transaction of Lu Thai Textile Co., Ltd. and the Proposal
on the Plan of Lu Thai Textile Co., Ltd. for Derivative Transactions approved at the 17th Meeting of the 8th
Board of Directors on 25 April 2018, and performed relevant information disclosure responsibilities.
1. As of 30 September 2018, the Company held a total of 28 immature derivative contracts worth
US$120,269,200 in total, which were forward settlement of exchange, foreign exchange options portfolio and
Changes in market prices or
forward foreign exchange trading. The latest contract expiration date was February 2019. Financial derivatives
fair value of derivative
occupied 10.08 % of the net assets as at the period end.
investments in Reporting
2. From January to September 2018, the total amount of the Company’s matured financial derivatives was
Period (fair value analysis
US$389,641,200, all executed in accordance with the contracts with the losses of RMB19,168,300. Of all the
should include measurement
derivatives, the matured forward settlement of exchange was US$74.5 million with the losses of
method and related
RMB6,368,500; the matured foreign exchange options was US$271.6 million with the losses of RMB11.1858
assumptions and parameters)
million; the matured foreign exchange trading was US$34,141,900with the losses of RMB1.6535 million; the
matured foreign exchange swap was US$9,399,300 with the gains of RMB39,500.
Major changes in accounting
policies and specific
accounting principles adopted No significant changes
for derivative investments in
Reporting Period compared to
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Lu Thai Textile Co., Ltd. Third Quarter Report 2018
last reporting period
The Company’s independent directors Xu Jianjun, Zhao Yao, Bi Xiuli, Pan Ailing and Wang Xinyu,
concerning conducting derivatives business, have issued the following professional advice: We are of the
opinion that it will strengthen the Company’s competitiveness to use derivative transactions with focus on
Opinion of independent
forward settlement and purchase as an effective tool to avoid foreign exchange risks, to strengthen the relevant
directors on derivative
internal control and to carry out the loss and risk prevention measures so as to improve the operation and
investments and risk control
management. In conducting derivative transactions with focus on forward settlement and purchase, the
Company follows a legal approval procedure, has sound relevant institutions and keeps the risks relatively
controllable. No harm has been done to the interests of the Company’s shareholders.
VIII Visits Paid to the Company for Purposes of Research, Communication, Interview, etc.
during Reporting Period
√ Applicable □ Not applicable
Date of visit Way of visit Type of visitor About
22 August 2018 By phone Institution Key corporate information
IX Irregularities in Provision of Guarantees for External Parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.
X Occupation of the Company’s Capital by Controlling Shareholder or Its Related Parties for
Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
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Lu Thai Textile Co., Ltd. Third Quarter Report 2018
Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Prepared by Lu Thai Textile Co., Ltd.
30 September 2018
Unit: RMB
Item 30 September 2018 31 December 2017
Current assets:
Monetary capital 813,672,036.09 693,989,293.38
Financial assets at fair value through profit or loss
Derivative financial assets
Notes and accounts receivable 472,326,437.12 473,357,266.39
Including: Notes receivable 108,912,648.38 139,276,742.34
Accounts receivable 363,413,788.74 334,080,524.05
Prepayments 240,240,134.26 146,463,066.38
Other receivables 76,163,473.60 56,772,785.11
Inventories 1,998,161,973.27 2,100,661,221.93
Assets classified as held for sale
Current portion of non-current assets
Other current assets 55,863,530.53 118,588,703.34
Total current assets 3,656,427,584.87 3,589,832,336.53
Non-current assets:
Available-for-sale financial assets 85,328,000.00 84,533,000.00
Held-to-maturity investments
Long-term receivables 650,000.00
Long-term equity investments 94,750,824.37 97,536,732.02
Investment property 23,188,725.04 24,563,544.58
Fixed assets 5,435,726,372.52 5,421,295,850.03
Construction in progress 551,086,721.63 214,335,626.74
Productive living assets
Oil and gas assets
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Lu Thai Textile Co., Ltd. Third Quarter Report 2018
Intangible assets 483,223,335.94 498,948,301.48
R&D expense
Goodwill 20,613,803.29 20,613,803.29
Long-term prepaid expense 121,245,654.53 107,877,194.52
Deferred income tax assets 70,883,745.15 74,697,159.71
Other non-current assets 25,202,247.12 36,390,478.85
Total non-current assets 6,911,899,429.59 6,580,791,691.22
Total assets 10,568,327,014.46 10,170,624,027.75
Current liabilities:
Short-term borrowings 1,604,707,428.77 1,135,124,996.40
Financial liabilities at fair value through profit or loss 44,112,150.00
Derivative financial liabilities
Notes and accounts payable 271,553,510.79 373,566,904.50
Advances from customers 111,903,443.97 119,785,945.48
Financial assets sold under repurchase agreements
Handling charges and commissions payable
Payroll payable 273,959,802.41 316,836,488.95
Taxes payable 68,134,645.51 33,055,090.58
Other payables 215,730,155.67 129,103,354.75
Current portion of non-current liabilities 62,750,292.49
Other current liabilities
Total current liabilities 2,590,101,137.12 2,170,223,073.15
Non-current liabilities:
Long-term borrowings 157,611,749.70
Long-term payables
Long-term payroll payable 92,458,178.53 93,843,473.02
Provisions
Deferred income 125,845,411.41 126,737,092.32
Deferred income tax liabilities 3,177,184.00 2,904,899.46
Other non-current liabilities 1,840,000.00 1,840,000.00
Total non-current liabilities 380,932,523.64 225,325,464.80
Total liabilities 2,971,033,660.76 2,395,548,537.95
Owners’ equity:
Share capital 922,602,311.00 922,602,311.00
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Lu Thai Textile Co., Ltd. Third Quarter Report 2018
Capital reserves 699,493,647.48 699,493,593.82
Less: Treasury stock 404,662,394.01
Other comprehensive income 68,937,000.11 16,810,574.22
Specific reserve
Surplus reserves 962,933,579.06 962,933,579.06
General reserve
Retained earnings 4,762,654,399.59 4,629,102,712.06
Total equity attributable to owners of the Company as the parent 7,011,958,543.23 7,230,942,770.16
Non-controlling interests 585,334,810.47 544,132,719.64
Total owners’ equity 7,597,293,353.70 7,775,075,489.80
Total liabilities and owners’ equity 10,568,327,014.46 10,170,624,027.75
Legal representative: Liu Zibin Chief accountant: Zhang Hongmei Financial manager: Zhang Keming
2. Balance Sheet of the Company as the Parent
Unit: RMB
Item 30 September 2018 31 December 2017
Current assets:
Monetary capital 249,711,287.57 267,809,829.78
Financial assets at fair value through profit or loss
Derivative financial assets
Notes and accounts receivable 392,992,131.05 399,148,071.79
Including: Notes receivable 63,324,617.36 93,244,480.81
Accounts receivable 329,667,513.69 305,903,590.98
Prepayments 96,417,359.62 81,471,605.69
Other receivables 445,016,248.84 520,008,829.95
Inventories 1,180,345,243.79 1,164,055,145.96
Assets classified as held for sale
Current portion of non-current assets
Other current assets 10,731,935.83 53,657,308.33
Total current assets 2,375,214,206.70 2,486,150,791.50
Non-current assets:
Available-for-sale financial assets 73,328,000.00 72,533,000.00
Held-to-maturity investments
Long-term receivables
16
Lu Thai Textile Co., Ltd. Third Quarter Report 2018
Long-term equity investments 2,164,443,940.41 1,816,493,348.06
Investment property 14,987,686.56 15,536,968.08
Fixed assets 2,716,789,295.13 2,811,046,847.91
Construction in progress 73,691,514.89 27,312,701.62
Intangible assets 243,664,849.67 249,994,817.83
R&D expense
Goodwill
Long-term prepaid expense
Deferred income tax assets 45,317,300.76 51,474,007.76
Other non-current assets 11,417,122.12 27,077,391.31
Total non-current assets 5,343,639,709.54 5,071,469,082.57
Total assets 7,718,853,916.24 7,557,619,874.07
Current liabilities:
Short-term borrowings 867,350,637.48 622,438,413.87
Financial liabilities at fair value through profit or loss 30,399,300.00
Derivative financial liabilities
Notes and accounts payable 207,150,403.95 154,007,599.21
Advances from customers 64,454,068.52 52,314,250.61
Payroll payable 203,362,592.36 240,391,459.47
Taxes payable 34,959,939.12 17,297,415.92
Other payables 284,560,557.39 24,347,633.13
Liabilities directly associated with assets classified as held for sale
Current portion of non-current liabilities
Other current liabilities
Total current liabilities 1,692,237,498.82 1,110,796,772.21
Non-current liabilities:
Long-term borrowings
Long-term payables
Long-term payroll payable 92,458,178.53 93,843,473.02
Provisions
Deferred income 81,130,402.84 80,580,249.14
Deferred income tax liabilities 124,200.00 4,950.00
Other non-current liabilities
Total non-current liabilities 173,712,781.37 174,428,672.16
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Lu Thai Textile Co., Ltd. Third Quarter Report 2018
Total liabilities 1,865,950,280.19 1,285,225,444.37
Owners’ equity:
Share capital 922,602,311.00 922,602,311.00
Capital reserves 759,836,756.57 759,836,702.91
Less: Treasury stock 404,662,394.01
Other comprehensive income 703,800.00 28,050.00
Specific reserve
Surplus reserves 959,824,839.42 959,824,839.42
Retained earnings 3,614,598,323.07 3,630,102,526.37
Total owners’ equity 5,852,903,636.05 6,272,394,429.70
Total liabilities and owners’ equity 7,718,853,916.24 7,557,619,874.07
3. Consolidated Income Statement for Q3
Unit: RMB
Item Q3 2018 Q3 2017
1. Revenue 1,743,184,011.30 1,636,563,847.48
Including: Operating revenue 1,743,184,011.30 1,636,563,847.48
2. Operating costs and expenses 1,444,665,025.79 1,414,767,717.60
Including: Cost of sales 1,202,063,269.94 1,169,036,036.50
Taxes and surcharges 25,517,190.09 22,201,162.17
Selling expense 36,889,477.84 36,919,797.86
Administrative expense 117,159,789.88 113,565,437.29
R&D expense 52,932,799.61 56,642,694.68
Finance costs 7,208,595.79 14,040,353.14
Including: Interest expense 16,558,359.20 4,528,392.85
Interest income 5,662,375.52 8,531,141.07
Asset impairment loss 2,893,902.64 2,362,235.96
Add: Other income 9,124,879.25 20,296,220.07
Investment income (“-” for loss) -23,034,065.03 2,978,343.01
Including: Share of profit or loss of joint ventures and associates -1,055,310.06
Gain on changes in fair value (“-” for loss) -15,631,140.00 -1,907,100.00
Foreign exchange gain (“-” for loss)
Asset disposal income (“-” for loss) 23,755,540.09 4,140,058.62
3. Operating profit (“-” for loss) 292,734,199.82 247,303,651.58
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Lu Thai Textile Co., Ltd. Third Quarter Report 2018
Add: Non-operating income 2,673,434.80 437,095.61
Less: Non-operating expense 1,628,939.02 516,136.99
4. Profit before tax (“-” for loss) 293,778,695.60 247,224,610.20
Less: Income tax expense 44,321,359.81 35,631,014.43
5. Net profit (“-” for net loss) 249,457,335.79 211,593,595.77
5.1 Net profit from continuing operations (“-” for net loss) 249,457,335.79 211,593,595.77
5.2 Net profit from discontinued operations (“-” for net loss)
Net profit attributable to owners of the Company as the parent 209,540,056.51 198,954,128.67
Net profit attributable to non-controlling interests 39,917,279.28 12,639,467.10
6. Other comprehensive income, net of tax 24,566,771.97 -12,385,575.90
Attributable to owners of the Company as the parent 24,566,771.97 -12,385,575.90
6.1 Items that will not be reclassified to profit or loss
6.1.1 Changes in net liabilities or assets caused by remeasurements
on defined benefit pension schemes
6.1.2 Share of other comprehensive income of investees that will
not be reclassified to profit or loss under equity method
6.2 Items that may subsequently be reclassified to profit or loss 24,566,771.97 -12,385,575.90
6.2.1 Share of other comprehensive income of investees that will be
reclassified to profit or loss under equity method
6.2.2 Gain/Loss on changes in fair value of available-for-sale
-344,250.00
financial assets
6.2.3 Gain/Loss arising from reclassification of held-to-maturity
investments to available-for-sale financial assets
6.2.4 Effective gain/loss on cash flow hedges
6.2.5 Differences arising from translation of foreign
24,911,021.97 -12,385,575.90
currency-denominated financial statements
6.2.6 Other
Attributable to non-controlling interests
7. Total comprehensive income 274,024,107.76 199,208,019.87
Attributable to owners of the Company as the parent 234,106,828.48 186,568,552.77
Attributable to non-controlling interests 39,917,279.28 12,639,467.10
8. Earnings per share
8.1 Basic earnings per share 0.23 0.21
8.2 Diluted earnings per share 0.23 0.21
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees before
the combinations was RMB0.00, with the amount for the same period of last year being RMB0.00.
Legal representative: Liu Zibin Chief accountant: Zhang Hongmei Financial manager: Zhang Keming
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Lu Thai Textile Co., Ltd. Third Quarter Report 2018
4. Income Statement of the Company as the Parent for Q3
Unit: RMB
Item Q3 2018 Q3 2017
1. Operating revenue 1,311,467,279.35 1,303,419,914.32
Less: Cost of sales 969,922,821.85 961,017,334.09
Taxes and surcharges 17,215,045.88 17,222,805.08
Selling expense 20,317,829.54 24,575,700.30
Administrative expense 75,809,175.22 77,219,833.80
R&D expense 37,589,240.19 36,651,450.97
Finance costs 4,383,922.13 5,369,029.33
Including: Interest expense 5,775,599.84 2,205,583.58
Interest income 418,784.42 1,272,554.02
Asset impairment loss 2,207,675.19 -5,188,148.15
Add: Other income 4,231,549.46 15,198,267.82
Investment income (“-” for loss) -1,036,006.41 2,993,963.01
Including: Share of profit or loss of joint ventures and associates -1,055,310.06
Gain on changes in fair value (“-” for loss) -11,551,800.00 -1,451,200.00
Asset disposal income (“-” for loss) -60,714.02 -210,856.62
2. Operating profit (“-” for loss) 175,604,598.38 203,082,083.11
Add: Non-operating income 2,629,812.70 363,373.86
Less: Non-operating expense 1,220,654.32 66,874.28
3. Profit before tax (“-” for loss) 177,013,756.76 203,378,582.69
Less: Income tax expense 24,375,571.27 31,561,713.67
4. Net profit (“-” for net loss) 152,638,185.49 171,816,869.02
4.1 Net profit from continuing operations (“-” for net loss) 152,638,185.49 171,816,869.02
4.2 Net profit from discontinued operations (“-” for net loss)
5. Other comprehensive income, net of tax -344,250.00
5.1 Items that will not be reclassified to profit or loss
5.1.1 Changes in net liabilities or assets caused by remeasurements on
defined benefit pension schemes
5.1.2 Share of other comprehensive income of investees that will not
be reclassified to profit or loss under equity method
5.2 Items that may subsequently be reclassified to profit or loss -344,250.00
5.2.1 Share of other comprehensive income of investees that will be
reclassified to profit or loss under equity method
20
Lu Thai Textile Co., Ltd. Third Quarter Report 2018
5.2.2 Gain/Loss on changes in fair value of available-for-sale financial
-344,250.00
assets
5.2.3 Gain/Loss arising from reclassification of held-to-maturity
investments to available-for-sale financial assets
5.2.4 Effective gain/loss on cash flow hedges
5.2.5 Differences arising from translation of foreign
currency-denominated financial statements
5.2.6 Other
6. Total comprehensive income 152,293,935.49 171,816,869.02
7. Earnings per share
7.1 Basic earnings per share 0.16 0.18
7.2 Diluted earnings per share 0.16 0.18
5. Consolidated Income Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2018 Q1~Q3 2017
1. Revenue 5,023,591,787.12 4,633,359,418.78
Including: Operating revenue 5,023,591,787.12 4,633,359,418.78
2. Operating costs and expenses 4,285,430,430.29 3,932,049,880.65
Including: Cost of sales 3,562,899,701.35 3,220,519,040.29
Taxes and surcharges 79,987,597.97 73,704,489.30
Selling expense 103,830,566.40 105,285,310.08
Administrative expense 280,434,300.58 268,800,254.77
R&D expense 215,529,045.41 215,445,196.69
Finance costs 37,733,821.10 44,970,531.42
Including: Interest expense 39,093,671.25 19,181,625.09
Interest income 13,065,868.54 11,176,192.49
Asset impairment loss 5,015,397.48 3,325,058.10
Add: Other income 46,267,401.20 31,178,711.35
Investment income (“-” for loss) -18,388,041.25 4,363,878.35
Including: Share of profit or loss of joint ventures and associates -2,785,907.65
Gain on changes in fair value (“-” for loss) -44,112,150.00 -796,400.00
Foreign exchange gain (“-” for loss)
Asset disposal income (“-” for loss) 23,233,253.44 2,948,976.14
3. Operating profit (“-” for loss) 745,161,820.22 739,004,703.97
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Lu Thai Textile Co., Ltd. Third Quarter Report 2018
Add: Non-operating income 5,680,589.63 4,798,339.44
Less: Non-operating expense 3,623,862.73 5,165,062.38
4. Profit before tax (“-” for loss) 747,218,547.12 738,637,981.03
Less: Income tax expense 107,596,874.38 115,086,641.45
5. Net profit (“-” for net loss) 639,621,672.74 623,551,339.58
5.1 Net profit from continuing operations (“-” for net loss) 639,621,672.74 623,551,339.58
5.2 Net profit from discontinued operations (“-” for net loss)
Net profit attributable to owners of the Company as the parent 586,896,015.53 594,084,424.93
Net profit attributable to non-controlling interests 52,725,657.21 29,466,914.65
6. Other comprehensive income, net of tax 52,126,425.89 -27,170,667.80
Attributable to owners of the Company as the parent 52,126,425.89 -27,170,667.80
6.1 Items that will not be reclassified to profit or loss
6.1.1 Changes in net liabilities or assets caused by remeasurements
on defined benefit pension schemes
6.1.2 Share of other comprehensive income of investees that will
not be reclassified to profit or loss under equity method
6.2 Items that may subsequently be reclassified to profit or loss 52,126,425.89 -27,170,667.80
6.2.1 Share of other comprehensive income of investees that will be
reclassified to profit or loss under equity method
6.2.2 Gain/Loss on changes in fair value of available-for-sale
675,750.00
financial assets
6.2.3 Gain/Loss arising from reclassification of held-to-maturity
investments to available-for-sale financial assets
6.2.4 Effective gain/loss on cash flow hedges
6.2.5 Differences arising from translation of foreign
51,450,675.89 -27,170,667.80
currency-denominated financial statements
6.2.6 Other
Attributable to non-controlling interests
7. Total comprehensive income 691,748,098.63 596,380,671.78
Attributable to owners of the Company as the parent 639,022,441.42 566,913,757.13
Attributable to non-controlling interests 52,725,657.21 29,466,914.65
8. Earnings per share
8.1 Basic earnings per share 0.64 0.64
8.2 Diluted earnings per share 0.64 0.64
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees before
the combinations was RMB0.00, with the amount for the same period of last year being RMB0.00.
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Lu Thai Textile Co., Ltd. Third Quarter Report 2018
6. Income Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item Q1~Q3 2018 Q1~Q3 2017
1. Operating revenue 3,815,256,129.99 3,785,445,678.58
Less: Cost of sales 2,831,327,287.54 2,727,698,358.16
Taxes and surcharges 57,522,630.63 54,700,584.26
Selling expense 58,633,294.63 67,896,475.33
Administrative expense 175,674,751.06 173,265,060.53
R&D expense 152,490,515.84 151,041,650.86
Finance costs 15,775,202.00 13,738,799.16
Including: Interest expense 11,499,059.62 5,098,927.46
Interest income 3,615,417.12 2,925,918.00
Asset impairment loss 1,025,520.28 -4,926,016.45
Add: Other income 32,824,295.66 20,665,147.69
Investment income (“-” for loss) 881,396.52 22,252,360.62
Including: Share of profit or loss of joint ventures and associates -2,785,907.65
Gain on changes in fair value (“-” for loss) -30,399,300.00 -340,500.00
Asset disposal income (“-” for loss) -9,093,464.10 -454,572.82
2. Operating profit (“-” for loss) 517,019,856.09 644,153,202.22
Add: Non-operating income 4,494,842.92 2,570,438.61
Less: Non-operating expense 2,339,681.53 4,002,308.38
3. Profit before tax (“-” for loss) 519,175,017.48 642,721,332.45
Less: Income tax expense 81,334,892.78 97,207,407.76
4. Net profit (“-” for net loss) 437,840,124.70 545,513,924.69
4.1 Net profit from continuing operations (“-” for net loss) 437,840,124.70 545,513,924.69
4.2 Net profit from discontinued operations (“-” for net loss)
5. Other comprehensive income, net of tax 675,750.00
5.1 Items that will not be reclassified to profit or loss
5.1.1 Changes in net liabilities or assets caused by remeasurements on
defined benefit pension schemes
5.1.2 Share of other comprehensive income of investees that will not
be reclassified to profit or loss under equity method
5.2 Items that may subsequently be reclassified to profit or loss 675,750.00
5.2.1 Share of other comprehensive income of investees that will be
reclassified to profit or loss under equity method
23
Lu Thai Textile Co., Ltd. Third Quarter Report 2018
5.2.2 Gain/Loss on changes in fair value of available-for-sale financial
675,750.00
assets
5.2.3 Gain/Loss arising from reclassification of held-to-maturity
investments to available-for-sale financial assets
5.2.4 Effective gain/loss on cash flow hedges
5.2.5 Differences arising from translation of foreign
currency-denominated financial statements
5.2.6 Other
6. Total comprehensive income 438,515,874.70 545,513,924.69
7. Earnings per share
7.1 Basic earnings per share 0.47 0.59
7.2 Diluted earnings per share 0.47 0.59
7. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2018 Q1~Q3 2017
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of services 4,919,565,086.62 4,574,979,319.14
Tax rebates 163,977,565.90 160,047,008.71
Cash generated from other operating activities 72,652,513.56 86,687,670.15
Subtotal of cash generated from operating activities 5,156,195,166.08 4,821,713,998.00
Payments for commodities and services 2,430,285,387.35 2,300,721,133.86
Cash paid to and for employees 1,234,503,411.97 1,187,769,632.78
Taxes paid 195,779,524.72 272,027,616.66
Cash used in other operating activities 172,474,225.29 230,703,535.88
Subtotal of cash used in operating activities 4,033,042,549.33 3,991,221,919.18
Net cash generated from/used in operating activities 1,123,152,616.75 830,492,078.82
2. Cash flows from investing activities:
Proceeds from disinvestment
Investment income
Net proceeds from disposal of fixed assets, intangible assets and other
32,556,953.49 11,449,301.27
long-lived assets
Net proceeds from disposal of subsidiaries or other business units
Cash generated from other investing activities 76,342,399.31 72,404,070.11
Subtotal of cash generated from investing activities 108,899,352.80 83,853,371.38
Payments for acquisition of fixed assets, intangible assets and other 806,532,720.12 435,293,077.11
24
Lu Thai Textile Co., Ltd. Third Quarter Report 2018
long-lived assets
Payments for investments 50,000,000.00
Net increase in pledged loans granted
Net payments for acquisition of subsidiaries and other business units
Cash used in other investing activities 27,629,580.00
Subtotal of cash used in investing activities 834,162,300.12 485,293,077.11
Net cash generated from/used in investing activities -725,262,947.32 -401,439,705.73
3. Cash flows from financing activities:
Capital contributions received 500,000.00 500,000.00
Including: Capital contributions by non-controlling interests to
500,000.00 500,000.00
subsidiaries
Increase in borrowings obtained 2,376,163,674.80 1,255,806,409.19
Net proceeds from issuance of bonds
Cash generated from other financing activities 85,500,000.00 21,980,000.00
Subtotal of cash generated from financing activities 2,462,163,674.80 1,278,286,409.19
Repayment of borrowings 1,842,546,176.23 1,197,843,204.46
Payments for interest and dividends 496,450,783.83 491,099,353.46
Including: Dividends paid by subsidiaries to non-controlling interests 12,023,566.38 12,023,566.38
Cash used in other financing activities 411,967,875.77
Subtotal of cash used in financing activities 2,750,964,835.83 1,688,942,557.92
Net cash generated from/used in financing activities -288,801,161.03 -410,656,148.73
4. Effect of foreign exchange rate changes on cash and cash equivalents 17,794,234.31 -13,870,445.11
5. Net increase in cash and cash equivalents 126,882,742.71 4,525,779.25
Add: Cash and cash equivalents, beginning of the period 676,639,212.86 659,304,702.34
6. Cash and cash equivalents, end of the period 803,521,955.57 663,830,481.59
8. Cash Flow Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item Q1~Q3 2018 Q1~Q3 2017
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of services 3,785,633,830.30 3,755,654,197.80
Tax rebates 106,532,179.75 111,127,591.41
Cash generated from other operating activities 43,398,321.95 34,568,683.53
Subtotal of cash generated from operating activities 3,935,564,332.00 3,901,350,472.74
Payments for commodities and services 2,128,325,245.47 2,083,382,104.36
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Lu Thai Textile Co., Ltd. Third Quarter Report 2018
Cash paid to and for employees 892,249,851.42 850,651,997.04
Taxes paid 126,464,943.27 152,018,949.10
Cash used in other operating activities 101,507,637.23 116,969,182.67
Subtotal of cash used in operating activities 3,248,547,677.39 3,203,022,233.17
Net cash generated from/used in operating activities 687,016,654.61 698,328,239.57
2. Cash flows from investing activities:
Proceeds from disinvestment
Investment income 17,976,433.62 17,976,433.62
Net proceeds from disposal of fixed assets, intangible assets and other
91,081,938.50 1,452,306.27
long-lived assets
Net proceeds from disposal of subsidiaries or other business units
Cash generated from other investing activities 489,871,987.82 299,727,304.86
Subtotal of cash generated from investing activities 598,930,359.94 319,156,044.75
Payments for acquisition of fixed assets, intangible assets and other
164,450,789.04 69,903,614.65
long-lived assets
Payments for investments 350,352,500.00 57,934,750.00
Net payments for acquisition of subsidiaries and other business units
Cash used in other investing activities 382,356,069.93 328,724,000.00
Subtotal of cash used in investing activities 897,159,358.97 456,562,364.65
Net cash generated from/used in investing activities -298,228,999.03 -137,406,319.90
3. Cash flows from financing activities:
Capital contributions received
Increase in borrowings obtained 1,414,730,254.38 961,360,949.88
Net proceeds from issuance of bonds
Cash generated from other financing activities 241,357,600.00
Subtotal of cash generated from financing activities 1,656,087,854.38 961,360,949.88
Repayment of borrowings 1,189,079,694.80 873,419,137.33
Payments for interest and dividends 458,408,100.12 468,208,196.66
Cash used in other financing activities 411,967,875.77
Sub-total of cash used in financing activities 2,059,455,670.69 1,341,627,333.99
Net cash generated from/used in financing activities -403,367,816.31 -380,266,384.11
4. Effect of foreign exchange rate changes on cash and cash equivalents -3,518,381.48 -1,809,778.95
5. Net increase in cash and cash equivalents -18,098,542.21 178,845,756.61
Add: Cash and cash equivalents, beginning of the period 267,809,829.78 177,016,859.63
6. Cash and cash equivalents, end of the period 249,711,287.57 355,862,616.24
26
Lu Thai Textile Co., Ltd. Third Quarter Report 2018
II Independent Auditor’s Report
Indicate by tick mark whether the financial statements above have been audited by an independent auditor.
□Yes √ No
These financial statements have not been audited by such an auditor.
Chairman of the Board: Liu Zibin
Lu Thai Textile Co., Ltd.
31 October 2018
27
