The First Quarter Report in 2024
Stock Code: 688007 Stock Short Name: Appotronics
Appotronics Corporation Limited
The First Quarter Report in 2024
The Board of Directors of the Company and all directors warrant that this
Announcement is free from any misrepresentation, misleading statement, or material
omission, and shall be legally liable for the truthfulness, accuracy, and completeness of
the content hereof in accordance with the law.
Important Notes
The Board of Directors, the Board of Supervisors, directors, supervisors, and senior officers of the
Company hereby warrant that the information contained in this Quarterly Report is true, accurate and
complete and this Quarterly Report is free from any misrepresentation, misleading statement or material
omission, and agree to assume joint and several liability for this Quarterly Report.
The Principal of the Company, Person in Charge of the Accounting Work, and Person in Charge of the
Accounting Body (Chief Accountant) of the Company hereby represent that the financial information
contained in this Quarterly Report is true, accurate and complete.
Whether the financial statements of the 1st quarter have been audited
□ Yes √ No
本报告为深圳光峰科技股份有限公司自愿披露的《2024 年第一季度报告（英文
版）》，对本报告的中英文版本理解上发生歧义时，以中文版本为准。
The First Quarter Report in 2024 is voluntarily disclosed by Appotronics Corporation Limited,
and if the meaning of the translated version is different than the Chinese version, the Chinese version
will control.
I. Major financial data
(I) Main accounting data and financial indicators
In RMB
Change on a year-on-
Item During the reporting period
year basis (%)
Operating income 445,039,193.21 -3.04
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The First Quarter Report in 2024
Net profit attributable to
shareholders of the listed 44,543,331.11 226.21
company
Net profit attributable to
shareholders of the listed
622,945.86 N/A
company after deduction of non-
recurring profit or loss
Net cash flow from operating
12,224,792.96 N/A
activities
Basic earnings per share
0.10 233.33
(RMB/share)
Diluted earnings per share
0.10 233.33
(RMB/share)
Weighted average return on net
1.57 +1.06 percentage points
assets (%)
Total R&D investments 54,022,432.44 -14.84
Proportion of R&D investments
12.14 -1.68 percentage points
to operating income (%)
Changes at the end of
At the end of the At the end of the reporting period
reporting period the prior year from the end of the
prior year (%)
Total assets 4,167,616,791.73 4,220,570,891.16 -1.25
Owners’ equity attributable to
shareholders of the listed 2,826,259,823.50 2,818,869,452.99 0.26
company
(II) Items and amounts of non-recurring profit or loss
√ Applicable □ N/A
In RMB
Amount for the
Item of non-recurring profit or loss Description
current period
Gain or loss on disposal of non-current assets, including write-off
-252,005.77
of provision for asset impairment
Government grants recognized in profit or loss for the current
period (excluding government grants that are closely related to the
business of the Company and are provided in accordance with 6,292,151.48
established standards with continuous effects on the profit or loss
of the Company according to the provisions of national policies)
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The First Quarter Report in 2024
Profit or loss on changes in the fair value of financial assets and
financial liabilities held by non-financial enterprises and profit or
loss on the disposal of financial assets and financial liabilities, 37,906,378.85
other than those used in the effective hedging activities related to
normal operating business of the Company
Income earned from lending funds to non-financial enterprises
and recognized in profit or loss
Profit or loss on entrusted investments or assets management 3,661,419.17
Net profit or loss of subsidiaries from the beginning of the period
up to the business combination date recognized as a result of 3,601,854.87
business combination involving enterprises under common control
Other non-operating income and expenses 11,426.69
Less: Effect of income taxes 7,133,583.78
Effects attributable to minority interests (net of tax) 167,256.26
Total 43,920,385.25
It is required to specify the reasons for defining items not illustrated in Information Disclosure and
Presentation Rules for Companies Making Public Offering of Securities No. 1 - Non-recurring Profit or
Loss as non-recurring profit or loss items of significant amounts, and for defining non-recurring profit or
loss items illustrated in Information Disclosure and Presentation Rules for Companies Making Public
Offering of Securities No. 1 - Non-recurring Profit or Loss as recurring profit or loss items.
□ Applicable √ N/A
(III) Description of and reasons for changes in the main accounting data and financial indicators
√ Applicable □ N/A
Item % Change Main reason
Net profit attributable to The main reasons are the return on investment of and the
shareholders of the listed 226.21 profit or loss on changes in the fair value of some held-
company for-trading financial assets during the reporting period.
Net profit attributable to
The main reasons are the year-on-year decrease in the
shareholders of the listed
N/A control expenses and period expenses during the
company after deduction of
reporting period.
non-recurring profit or loss
The main reasons are the adjustment in the method of
Net cash flow from operating
N/A settlement with suppliers and the optimization of
activities
payment terms during the reporting period.
Basic earnings per share Same as the reasons for the change in the net profit
233.33
(RMB/share) attributable to shareholders of the listed company.
Diluted earnings per share Same as the reasons for the change in the net profit
233.33
(RMB/share) attributable to shareholders of the listed company.
1. Analysis of business operation
From the beginning of 2024, the Company insisted on high-quality development for overall operation
by continuously carrying out the development strategy of “core technologies + core devices + application
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The First Quarter Report in 2024
scenarios” to enhance the key development path with cinema businesses and dedicated display businesses
as the fundamental business and with automotive businesses and other innovative businesses as growth
businesses, which reflected strong resilience and activity in the overall business operation. The
fundamental businesses led to continuously improving profit indicators for the Company, while the growth
businesses created new energy - the automotive business achieved the revenue breakthrough from 0 to 1
to develop into a key growth pole of the Company in the future. During the reporting period, our operating
income was RMB 445 million, essentially sustaining the level of the prior period; the net profit attributable
to the parent company reached RMB 44.5433 million, up by 226.21% year on year; the net profit
attributable to shareholders of the listed company after deduction of non-recurring profit or loss reversed
the loss into profit; and the overall gross profit margin, was 32.44%, while other key financial indicators
maintained stable. The operating highlights of the Company during the reporting period include:
Starting of the revenue contribution period for the automotive optics business
In December 2023, we achieved the official implementation of AITO M9, the first nominated
automobile model, and entered the stage of intense mass production and delivery in March 2024, which
started the revenue contribution period for the automotive optics business. In the first quarter of 2024, we
achieved the revenue of RMB 48.0268 million from the automotive optics business. The automobile-grade
projection giant screen in AITO M9 redefined in-vehicle intelligent space by meeting various demands for
in-vehicle entertainment, office, etc. The smooth implementation and delivery of M9 indicated that our
automobile-grade projection giant screen has been fully tested on the market.
On April 25, 2024, we released the world’s first ALL-in-ONE universal laser headlight on Beijing
International Automotive Exhibition, which, for the first time, integrated the high beam ADB headlight,
variable color temperature headlight (compatible with the fog light mode), ground information display,
automotive cinema, etc. into one headlight module with a small size. This greatly reduced the power
consumption and volume of the entire system, and greatly reduced the overall cost of the system while
meeting various demands for safety, social attributes, and individualization.
Stable growth of the cinema business
The record-breaking Spring Festival box office in 2024 and the continuous release of film watching
demands driven by outstanding films predict the strong development of the film market, which will
promote the continuous increase in our revenue from the cinema business. During the reporting period,
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The First Quarter Report in 2024
our revenue from the cinema business was RMB 153 million, up by 21% year on year. Meanwhile, we
enhanced the efforts for developing and marketing the VLED LED Cinema projection solution to further
expand the growth space of the cinema business and improve the business resilience for sustainable
development.
Continuous improvement in operation quality at Formovie
Thanks to the effective adjustment in personnel and business structure in the previous period,
Formovie reasonably controlled and optimized its period expenses and continuously improved the quality
of its overall operation during the reporting period. It reduced the losses by RMB 14.6943 million year on
year, reducing the rate of loss by 40.12% year on year. This reduced the impact on the profit indicators of
the Company. Formovie will continue to focus on more competitive own brand products while taking
overseas advantages of Google TV+Netflix dual certification to continuously improve its inherent
dynamics and operating quality.
2. Profit analysis
(1) During the reporting period, some held-for-trading financial assets generated investment returns
and profit or loss on change in the fair value, which provided active effects on the net profit attributable
to the parent company;
(2) During the reporting period, we maintained stable and favorable development of the cinema,
automotive optics, and other businesses; meanwhile, our optimization and control of expenses and
expenditures led to the decrease in period expenses by 20.60%, achieving obvious results in cost reduction
and efficiency improvement. At present, the arbitration between the Company and relevant GDC parties
is still under trial. This arbitration case incurred the legal service fees of RMB 7.5593 million during the
reporting period. With such fees excluded, the period expenses could be further reduced, which would
increase by RMB 7.5593 million in the net profit attributable to the parent company and the net profit
attributable to the parent company net of non-recurring profit or loss.
II. Shareholder information
(I) Total number of ordinary shareholders, number of preferred shareholders whose voting right has
been restituted, and shares held by top 10 shareholders
Unit: Share
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The First Quarter Report in 2024
Total number of preferred
Total number of ordinary shareholders as of the shareholders whose voting right has
15,699 N/A
end of the reporting period been restituted as of the end of the
reporting period (if any)
Shares held by top 10 shareholders (excluding shares lent out under the refinancing arrangement)
Shares
Number of non-
Num pledged,
Number tradable shares
ber marked, or
Nature of Proportion of of non- held, including
of frozen
Shareholder shareholde shareholding tradable the shares lent
share Statu
r (%) shares out under the
s s of Num
held refinancing
held share ber
arrangement
s
Domestic
Shenzhen Appotronics non-state 79,76
17.24 0 0 None 0
Holdings Limited owned 2,679
corporation
Shenzhen Yuanshi Laser Domestic
Industrial Investment non-state 24,13
5.22 0 0 None 0
Consulting Partnership owned 9,500
(LP) corporation
Domestic
Nantong Strait Appotronics
non-state 18,38
Investment Partnership 3.97 0 0 None 0
owned 1,208
(LP)
corporation
Domestic
Shenzhen Appotronics
non-state 17,05
Daye Investment 3.69 0 0 None 0
owned 6,167
Partnership (LP)
corporation
Domestic
Shenzhen Appotronics
non-state 13,60
Hongye Investment 2.94 0 0 None 0
owned 1,344
Partnership (LP)
corporation
Domestic
Shenzhen Appotronics
non-state 10,39
Chengye Consulting 2.25 0 0 None 0
owned 4,846
Partnership (LP)
corporation
Bank of China Co., Ltd. -
Stable Income Bond 9,945
Others 2.15 0 0 None 0
Securities Investment Fund ,837
of E Fund
6 / 17
The First Quarter Report in 2024
Domestic
Shenzhen Jinleijing
non-state 9,892
Investment Limited 2.14 0 0 None 0
owned ,706
Partnership (LP)
corporation
Hong Kong Securities Foreign 7,692
1.66 0 0 None 0
Clearing Company Limited corporation ,374
Shanghai Pudong
Development Bank Co.,
Ltd. - Invesco Great Wall 6,086
Others 1.32 0 0 None 0
New Energy Industry ,362
Stock Securities
Investment Fund
Shares held by top 10 holders of tradable shares
Number of tradable shares Type and number of shares
Shareholder
held Type of shares Number
RMB-
Shenzhen Appotronics Holdings Limited 79,762,679 denominated 79,762,679
ordinary share
RMB-
Shenzhen Yuanshi Laser Industrial Investment
24,139,500 denominated 24,139,500
Consulting Partnership (LP)
ordinary share
RMB-
Nantong Strait Appotronics Investment Partnership
18,381,208 denominated 18,381,208
(LP)
ordinary share
RMB-
Shenzhen Appotronics Daye Investment
17,056,167 denominated 17,056,167
Partnership (LP)
ordinary share
RMB-
Shenzhen Appotronics Hongye Investment
13,601,344 denominated 13,601,344
Partnership (LP)
ordinary share
RMB-
Shenzhen Appotronics Chengye Consulting
10,394,846 denominated 10,394,846
Partnership (LP)
ordinary share
RMB-
Bank of China Co., Ltd. - Stable Income Bond
9,945,837 denominated 9,945,837
Securities Investment Fund of E Fund
ordinary share
RMB-
Shenzhen Jinleijing Investment Limited
9,892,706 denominated 9,892,706
Partnership (LP)
ordinary share
RMB-
Hong Kong Securities Clearing Company Limited 7,692,374 denominated 7,692,374
ordinary share
7 / 17
The First Quarter Report in 2024
Shanghai Pudong Development Bank Co., Ltd. - RMB-
Invesco Great Wall New Energy Industry Stock 6,086,362 denominated 6,086,362
Securities Investment Fund ordinary share
1. As of March 31, 2024, the following entities in top 10
shareholders of the Company constituted person acting in concert:
Shenzhen Appotronics Holdings Limited, Shenzhen Yuanshi Laser
Industrial Investment Consulting Partnership (LP), Shenzhen
Appotronics Daye Investment Partnership (LP), Shenzhen
Affiliates or concert parties among the Appotronics Hongye Investment Partnership (LP), Shenzhen
shareholders stated above Jinleijing Investment Limited Partnership (LP), and Shenzhen
Appotronics Chengye Consulting Partnership (LP).
2. Except for the above, we are not aware of whether there are
affiliates or concert parties as defined in the Administrative
Measures for the Acquisition of the Listed Companies among other
shareholders.
Description of margin trading, short selling, and
refinancing involving top 10 shareholders and top N/A
10 holders of non-restricted shares (if any)
Lending of shares in refinancing businesses by shareholders holding over 5% shares, top 10
shareholders, and top 10 holders of tradable shares
□ Applicable √ N/A
Change from the prior period due to lending/payback in refinancing businesses by top 10 shareholders
and top 10 holders of tradable shares
□ Applicable √ N/A
III. Other events
Other important information about the business operation of the Company during the reporting period
requesting the attention of investors
√ Applicable □ N/A
As of the end of the reporting period, the Company, as the patentee, is involved in 3 cases of petition
for invalidation brought to China National Intellectual Property Administration. The titles of the patents
involved are “a multi-color lighting apparatus using moving pattern plate containing wavelength
conversion material” (patent number: ZL200880107739.5), “a phosphor-based light source structure for
improving the efficiency of light conversion” (patent number: ZL200810065225.X), and “a light source
system and projection device” (patent number: ZL201610129958.X).
IV. Quarterly financial statements
(I) Type of audit opinions
□ Applicable √ N/A
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The First Quarter Report in 2024
(II) Financial statements
Consolidated Balance Sheet
March 31, 2024
Prepared by: Appotronics Corporation Limited
In RMB Audit type: Unaudited
Item March 31, 2024 December 31, 2023
Current Assets
Cash and bank balances 1,295,107,682.52 1,386,828,549.06
Balances with clearing agencies
Placements with banks and other financial
institutions
Held-for-trading financial assets 558,813,500.00 514,010,000.00
Derivative financial assets
Notes receivable 8,245,476.89 8,951,308.71
Accounts receivable 191,013,153.46 180,290,007.90
Receivables financing 16,591,500.00 11,387,400.00
Prepayments 28,570,676.82 35,112,661.82
Premiums receivable
Amounts receivable under reinsurance contracts
Reinsurer’s share of insurance contract reserves
Other receivables 29,778,482.53 30,698,687.55
Where: Interest receivable
Dividend receivable 14,048,100.00 14,023,746.00
Financial assets purchased under resale
agreements
Inventories 654,148,641.73 656,346,799.67
Where: Data resources
Contract assets 1,711,165.29 1,664,740.29
Assets held for sale
Non-current assets due within one year 50,927,102.99 41,997,218.73
Other current assets 50,114,834.09 48,417,270.11
Total current assets 2,885,022,216.32 2,915,704,643.84
Non-current Assets:
Loans and advances
Debt investments
Other debt investments
Long-term accounts receivable 28,406,241.84 26,000,543.13
Long-term equity investment 145,151,087.41 144,726,776.43
Investment in other equity instruments 7,075,419.38 7,075,419.38
Other non-current financial assets
Investment property
Fixed assets 309,024,900.32 336,276,793.84
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The First Quarter Report in 2024
Construction in progress 357,640,176.24 347,777,138.86
Productive biological assets
Oil and gas assets
Right-of-use assets 36,008,298.71 40,016,903.67
Intangible assets 278,522,539.37 281,961,046.22
Where: Data resources
Development expenditure
Where: Data resources
Goodwill
Long-term prepaid expenses 4,918,272.93 6,318,145.33
Deferred tax assets 76,795,766.21 85,364,732.19
Other non-current assets 39,051,873.00 29,348,748.27
Total non-current assets 1,282,594,575.41 1,304,866,247.32
Total assets 4,167,616,791.73 4,220,570,891.16
Current Liabilities:
Short-term borrowings 50,036,111.11 80,036,500.00
Loans from the central bank
Taking from banks and other financial
institutions
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 84,241,537.20 76,001,079.07
Accounts payable 274,700,053.42 247,318,466.10
Advance from customers 103,042,174.13 110,573,711.24
Contract liabilities 43,050,607.62 45,416,445.99
Financial assets sold under repurchase
agreements
Customer deposits and deposits from banks and
other financial institutions
Funds from securities trading agency
Funds from underwriting securities agency
Employee benefits payable 27,480,415.14 66,874,234.47
Taxes payable 9,271,995.74 6,142,704.23
Other payables 42,384,599.39 54,142,509.17
Where: Interest payable
Dividend payable
Fees and commissions payable
Amounts payable under reinsurance contracts
Liabilities held for sale
Non-current liabilities due within one year 231,672,005.81 268,748,151.67
Other current liabilities 16,977,077.50 18,441,685.83
Total current liabilities 882,856,577.06 973,695,487.77
Non-current Liabilities:
10 / 17
The First Quarter Report in 2024
Insurance contract reserves
Long-term borrowings 400,007,155.62 370,649,631.22
Bonds payable
Where: Preferred shares
Perpetual bonds
Leasing liabilities 16,516,180.62 15,548,985.71
Long-term payables
Long-term employee benefits payable
Estimated liabilities 56,806,899.15 58,180,985.08
Deferred income 4,018,991.50 4,627,972.56
Deferred tax liabilities 2,713,256.43 1,229,654.81
Other non-current liabilities
Total non-current liabilities 480,062,483.32 450,237,229.38
Total liabilities 1,362,919,060.38 1,423,932,717.15
Owners’ Equity (Or Shareholders’ Equity):
Paid-in capital (or share capital) 462,605,378.00 462,211,338.00
Other equity instruments
Where: Preferred shares
Perpetual bonds
Capital reserve 1,621,410,915.98 1,616,489,567.43
Less: Treasury shares 62,164,578.51 19,377,297.59
Other comprehensive income 7,869,005.55 7,550,073.78
Special reserve
Surplus reserve 84,873,365.32 84,873,365.32
General risk reserve
Undistributed profit 711,665,737.16 667,122,406.05
Total owners’ (or shareholders’) equity 2,826,259,823.50 2,818,869,452.99
attributable to owners of the parent company
Minority interests -21,562,092.15 -22,231,278.98
Total owners’ (or shareholders’) equity 2,804,697,731.35 2,796,638,174.01
Total liabilities and owners’ (or 4,167,616,791.73 4,220,570,891.16
shareholders’) equity
Principal of the Company: Person in Charge of the Person in Charge of the
Accounting Work: Accounting Body:
LI Yi WANG Yingxia WANG Yingxia
11 / 17
The First Quarter Report in 2024
Consolidated Income Statement
For the period from January to March 2024
Prepared by: Appotronics Corporation Limited
In RMB Audit type: Unaudited
The First Quarter The First
Item
in 2024 Quarter in 2023
I. Total operating income 445,039,193.21 459,012,885.14
Where: Operating income 445,039,193.21 459,012,885.14
Interest income
Premiums earned
Fee and commission income
II. Total operating costs 436,256,932.50 467,714,458.54
Where: Operating costs 300,684,484.79 296,672,965.87
Interest expenses
Fee and commission expenses
Surrenders
Claims and policyholder benefits (net of amounts
recoverable from reinsurers)
Net withdrawal of insurance contract reserves
Insurance policyholder dividends
Expenses for reinsurance accepted
Tax and surcharge 1,543,505.22 2,246,009.39
Selling expenses 44,067,730.59 59,929,586.42
Administrative expenses 39,231,871.63 42,342,747.37
R&D expenses 54,022,432.44 63,434,898.20
Financial expenses -3,293,092.17 3,088,251.29
Where: Interest expense 4,712,870.30 5,966,634.80
Interest income 8,393,771.91 6,877,403.47
Add: Other income 10,334,146.75 21,723,549.50
Investment income (loss is indicated by “-”) 15,035,443.71 -2,765,299.53
Where: Income from investments in associates and joint -254,854.31 -5,117,145.08
ventures
Gains from derecognition of financial assets
measured at amortized cost
Foreign exchange gains (loss is indicated by “-”)
Gains from net exposure hedges (loss is indicated by
“-”)
Gains from changes in fair values (loss is indicated by 26,277,500.00
“-”)
Losses of credit impairment (loss is indicated by “-”) -1,694,116.42 1,498,368.33
Impairment losses of assets (loss is indicated by “-”) -4,251,644.39 -3,843,694.60
Gains from disposal of assets (loss is indicated by “-”) 112,025.61 -2,903.65
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The First Quarter Report in 2024
III. Operating profit (loss is indicated by “-”) 54,595,615.97 7,908,446.65
Add: Non-operating income 15,252.07 311,999.47
Less: Non-operating expenses 367,856.76 118,694.04
IV. Total profits (total losses are indicated by “-”) 54,243,011.28 8,101,752.08
Less: Income tax expenses 12,901,079.19 9,404,199.18
V. Net profits (net losses are indicated by “-”) 41,341,932.09 -1,302,447.10
(I) Categorized by the continuity of operation
1. Net profits from continuing operations (net losses are 41,341,932.09 -1,302,447.10
indicated by “-”)
2. Net profits from discontinued operations (net losses are
indicated by “-”)
(II) Categorized by the ownership
1. Net profits attributable to shareholders of the parent 44,543,331.11 13,654,664.95
company (net losses are indicated by “-”)
2. Profits or losses attributable to minority shareholders -3,201,399.02 -14,957,112.05
(net losses are indicated by “-”)
VI. Other comprehensive income, net of tax 423,343.93 421,940.06
(I) Other comprehensive income that can be attributable to 318,931.77 -112,844.24
owners of the parent company, net of tax
1. Other comprehensive income that cannot be reclassified
subsequently to profit or loss
(1) Changes from remeasurement of defined benefit plans
(2) Other comprehensive income that cannot be reclassified to
profit or loss under the equity method
(3) Changes in fair value of investments in other equity
instruments
(4) Changes in fair value of enterprises’ own credit risks
2. Other comprehensive income that will be reclassified to 318,931.77 -112,844.24
profit or loss
(1) Other comprehensive income that will be reclassified to 4,433,259.00
profit or loss under the equity method
(2) Changes in fair value of other debt investments
(3) Amount of financial assets reclassified to other
comprehensive income
(4) Provision for credit impairment of other debt investments
(5) Reserve for cash flow hedges
(6) Exchange differences on translation of financial 318,931.77 -4,546,103.24
statements denominated in foreign currencies
(7) Others
(II) Other comprehensive income that can be attributable to 104,412.16 534,784.30
minority shareholders, net of tax
VII. Total comprehensive income 41,765,276.02 -880,507.04
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The First Quarter Report in 2024
(I) Total comprehensive income that can be attributable to 44,862,262.88 13,541,820.71
owners of the parent company
(II) Total comprehensive income that can be attributable to -3,096,986.86 -14,422,327.75
minority shareholders
VIII. Earnings per share:
(I) Basic earnings per share (RMB/share) 0.10 0.03
(II) Diluted earnings per share (RMB/share) 0.10 0.03
In the event of business combinations involving enterprises under common control, the net profits realized
prior to the combination by the party being absorbed is: RMB 0, and the net profits realized in the last
period by the party being absorbed is: RMB 0.
Principal of the Company: Person in Charge of the Person in Charge of the
Accounting Work: Accounting Body:
LI Yi WANG Yingxia WANG Yingxia
14 / 17
The First Quarter Report in 2024
Consolidated Cash Flow Statement
For the period from January to March 2024
Prepared by: Appotronics Corporation Limited
In RMB Audit type: Unaudited
Item The First Quarter in The First Quarter
2024 in 2023
I. Cash Flows from Operating Activities
Cash receipts from the sale of goods and the rendering of 458,063,284.69 554,311,050.64
services
Net increase in customer deposits and deposits from
banks and other financial institutions
Net increase in loans from the central bank
Net increase in taking from banks and other financial
institutions
Cash receipts from premiums under direct insurance
contracts
Net cash receipts from reinsurance business
Net cash receipts from policyholders’ deposits and
investment contract liabilities
Cash receipts from interest, fees and commissions
Net increase in taking from banks
Net increase in financial assets sold under repurchase
arrangements
Net cash received from securities trading agencies
Receipts of tax refunds 3,613,547.07 1,723,533.49
Other cash receipts related to operating activities 17,358,037.32 33,315,025.44
Subtotal of cash inflows from operating activities 479,034,869.08 589,349,609.57
Cash payments for goods purchased and services 247,377,326.75 404,270,221.28
received
Net increase in loans and advances to customers
Net increase in balance with the central bank and due
from banks and other financial institutions
Cash payments for claims and policyholders’ benefits
under direct insurance contracts
Net increase in placements with banks and other
financial institutions
Cash payments for interest, fees and commissions
Cash payments for insurance policyholder dividends
Cash payments to and on behalf of employees 135,358,112.47 136,748,077.35
Payments of various types of taxes 17,746,847.25 15,116,610.77
Other cash payments related to operating activities 66,327,789.65 69,545,790.85
Subtotal of cash outflows from operating activities 466,810,076.12 625,680,700.25
Net cash flow from operating activities 12,224,792.96 -36,331,090.68
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The First Quarter Report in 2024
II. Cash Flows from Investing Activities
Cash receipts from disposals and recovery of 316,950,000.00 390,000,000.00
investments
Cash receipts from investment income 15,474,786.27 2,405,845.55
Net cash receipts from disposals of fixed assets,
43,545.13 5,500.00
intangible assets and other long-term assets
Net cash receipts from disposals of subsidiaries and
other business units
Other cash receipts related to investing activities
Subtotal of cash inflows from investing activities 332,468,331.40 392,411,345.55
Cash payments to acquire or construct fixed assets, 24,423,820.06 18,023,943.37
intangible assets and other long-term assets
Cash payments to acquire investments 335,000,001.00 395,000,000.00
Net increase in pledged loans receivables
Net cash payments for acquisitions of subsidiaries and
other business units
Other cash payments related to investing activities 1,361,661.36 -
Subtotal of cash outflows from investing activities 360,785,482.42 413,023,943.37
Net cash flows from investing activities -28,317,151.02 -20,612,597.82
III. Cash Flows from Financing Activities:
Cash receipts from capital contributions 7,327,467.64
Where: Cash receipts from capital contributions from
minority shareholders of subsidiaries
Cash receipts from borrowings 41,923,143.29 265,000,000.00
Other cash receipts related to financing activities - -
Subtotal of cash inflows from financing activities 49,250,610.93 265,000,000.00
Cash repayments of borrowings 73,550,000.00 60,700,002.00
Cash payments for distribution of dividends or profits or 5,755,799.95 6,782,419.71
settlement of interest expenses
Where: Payments for distribution of dividends or profits
to minority shareholders of subsidiaries
Other cash payments related to financing activities 51,446,720.89 7,697,165.45
Subtotal of cash outflows from financing activities 130,752,520.84 75,179,587.16
Net cash flows from financing activities -81,501,909.91 189,820,412.84
IV. Effect of Foreign Exchange Rate Changes on Cash 652,614.64 -5,331,963.01
and Cash Equivalents
V. Net Increase in Cash and Cash Equivalents -96,941,653.34 127,544,761.33
Add: Opening balance of cash and cash equivalents 1,297,848,895.75 1,254,582,403.12
VI. Closing Balance of Cash and Cash Equivalents 1,200,907,242.41 1,382,127,164.45
Principal of the Company: Person in Charge of the Person in Charge of the
Accounting Work: Accounting Body:
LI Yi WANG Yingxia WANG Yingxia
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The First Quarter Report in 2024
The first implementation of new accounting standards or standard interpretations from 2024 onwards that
involves adjusting the financial statements at the beginning of the year in which they were first
implemented
□ Applicable √ N/A
Be it hereby announced.
Board of Directors of Appotronics Corporation Limited
April 25, 2024
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