The First Quarter Report in 2021
Stock Code: 688007 Stock Short Name: Appotronics
The First Quarter Report in 2021
of
Appotronics Corporation Limited
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The First Quarter Report in 2021
CONTENT
I. Important Notes............................................................................................ 3
II. Basic Information ....................................................................................... 3
III. Significant Events ...................................................................................... 8
IV. Annex ........................................................................................................ 13
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The First Quarter Report in 2021
I. Important Notes
1.1 The Board of Directors, the Board of Supervisors, directors, supervisors and 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.
1.2 All directors of the Company attended the meeting of the Board of Directors for deliberation of this
Quarterly Report.
1.3 BO Lianming, Principal of the Company; ZHAO Ruijin, the Person in Charge of the Accounting
Body; and LIU Jie, the Chief Accountant (the Person in Charge of Accounting) hereby represent
that the financial statements contained in this Quarterly Report are true, accurate and complete.
1.4 The Company’s first quarter report has not been audited.
II. Basic Information
2.1 Main financial data
In RMB
Changes at the end of the
At the end of the
At the end of the prior year reporting period from the
reporting period
end of the prior year (%)
Total assets 3,279,993,185.99 3,226,204,326.69 1.67
Net assets 2,147,767,338.89 2,091,599,671.75 2.69
attributable to
shareholders of
the listed
company
From the beginning of From the beginning of the
the year to the end of prior year to the end of the Changes over the same
the reporting period reporting period of the period of the prior year (%)
prior year
Net cash flow 106,223,261.88 -38,289,185.55
from operating N/A
activities
From the beginning of From the beginning of the
Changes over the same
the year to the end of prior year to the end of the
period of the prior year (%)
the reporting period reporting period of the
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The First Quarter Report in 2021
prior year
Operating 524,967,989.26 306,900,748.84 71.05
income
Net profits 54,409,294.00 13,322,216.29 308.41
attributable to
shareholders of
the listed
company
Net profits 36,659,661.66 -7,989,708.14 N/A
attributable to
shareholders of
the listed
company after
deduction of
non-recurring
profits or losses
Weighted 2.57 0.67 + 1.9 percentage points
average return on
net assets (%)
Basic earnings 0.12 0.03 300
per share
(RMB/share)
Diluted earnings 0.12 0.03 300
per share
(RMB/share)
Proportion of 8.49 14.26 - 5.77 percentage points
R&D
investments to
the operating
income (%)
Items and amounts of non-recurring profit or loss
√Applicable □ N/A
In RMB
Item Amount of the current period Description
2,150,156.10 It primarily refers to
Profit or loss on disposal of non-current
income from disposal of
assets
fixed assets.
Government grants recognized in profit 12,383,017.60 The government grants
or loss other than grants which are primarily represent those
closely related to the Company’s recognized in profit or loss
business and are either in fixed amounts for the current period,
or determined under quantitative methods including government
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The First Quarter Report in 2021
in accordance with the national standard grants received in the
current period and those
previously received but
recognized in the current
period for amortization.
Net profit or loss of subsidiaries from the 935,879.46
beginning of the period up to the business
combination date recognized as a result
of business combination of enterprises
involving entities under common control
Profit or loss on changes in the fair value 5,910,827.61 It refers to the realized part
of held-for-trading financial assets, of unrealized profits and
derivative financial assets, losses from transactions
held-for-trading financial liabilities and prior to business
derivative financial liabilities and combination involving
investment income on disposal of entities under common
held-for-trading financial assets, control.
derivative financial assets,
held-for-trading financial liabilities,
derivative financial liabilities and other
debt investments, other than those used in
the effective hedging activities relating to
normal operating business
Other non-operating income or expenses 427,924.61
other than the above
Effects attributable to minority interests -1,271,520.26
(net of tax)
Income tax effects -2,786,652.78
Total 17,749,632.34
2.2 Total number of shareholders, and the shareholding of top ten shareholders and top ten unrestricted
shareholders as of the end of reporting period
In Shares
Total number of shareholders (account) 13,653
The shareholding of top ten shareholders
Number of Number of Number of If being Nature of
Shareholder name Proport
shares held restricted restricted pledged or shareholde
(full name) ion (%)
at the end of shares held shares frozen rs
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The First Quarter Report in 2021
the period including
shares
leased out
Share Share
for
status number
refinancing
business
Non-state-
Shenzhen
owned
Appotronics 79,762,679 17.62 79,762,679 79,762,679 No 0
corporation
Holdings Limited
in China
SAIF IV Hong
Kong (China Oversea
42,522,842 9.39 0 0 No 0
Investments) corporation
Limited
CITIC PE
Investment (Hong Oversea
36,413,032 8.04 0 0 No 0
Kong) 2016 corporation
Limited
Nantong Strait Non-state-
Appotronics owned
25,064,737 5.54 0 0 No 0
Investment corporation
Partnership (LP) in China
Shenzhen Yuanshi
Non-state-
Laser Industrial
owned
Investment 24,139,500 5.33 24,139,500 24,139,500 No 0
corporation
Consulting
in China
Partnership (LP)
Shenzhen Non-state-
Appotronics Daye owned
20,430,250 4.51 20,430,250 20,430,250 No 0
Investment corporation
Partnership (LP) in China
GREEN FUTURE
Oversea
HOLDINGS 16,504,518 3.65 0 0 No 0
corporation
LIMITED
Shenzhen Non-state-
Appotronics owned
15,662,374 3.46 15,662,374 15,662,374 No 0
Hongye Investment corporation
Partnership (LP) in China
Non-state-
Shenzhen Jinleijing
owned
Investment Limited 12,353,106 2.73 12,353,106 12,353,106 No 0
corporation
Partnership (LP)
in China
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The First Quarter Report in 2021
Shenzhen
Guochuang
Chenggu Asset Non-state-
Investment Co., owned
10,443,640 2.31 0 0 No 0
Ltd.-Shenzhen corporation
Chengguhui Equity in China
Investment
Partnership (LP)
The shareholding of top ten shareholders of non-restricted shares
Shareholder name Number of unrestricted Category and number of shares
circulating shares Category Number
SAIF IV Hong Kong (China RMB ordinary
42,522,842 42,522,842
Investments) Limited shares
CITIC PE Investment (Hong RMB ordinary
36,413,032 36,413,032
Kong) 2016 Limited shares
Nantong Strait Appotronics RMB ordinary
25,064,737 25,064,737
Investment Partnership (LP) shares
GREEN FUTURE HOLDINGS RMB ordinary
16,504,518 16,504,518
LIMITED shares
Shenzhen Guochuang Chenggu
Asset Investment Co., RMB ordinary
10,443,640 10,443,640
Ltd.-Shenzhen Chengguhui Equity shares
Investment Partnership (LP)
China Merchants Bank
RMB ordinary
-ChinaAMC SSE STAR 50 7,269,521 7,269,521
shares
Exchange Traded Funds
SMART TEAM INVESTMENT RMB ordinary
6,799,660 6,799,660
LIMITED shares
RMB ordinary
CAI Kunliang 6,096,243 6,096,243
shares
Shenzhen Liansong Capital
RMB ordinary
Management Limited Partnership 5,833,817 5,833,817
shares
(LP)
ICBC-AXA Life Insurance Co., RMB ordinary
5,497,569 5,497,569
Ltd.- Tradition 2 shares
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The First Quarter Report in 2021
Description of the related-party 1.As of March 31,2021, the Company has received no statement from
relationship or concerted actions aforementioned shareholders to confirm there is a related-party
among aforementioned relationship or concerted action, except the concerted action among
shareholders Shenzhen Appotronics Holdings Limited, Shenzhen Yuanshi Laser
Industrial Investment Consulting Partnership (LP), Shenzhen
Appotronics Daye Investment Partnership (LP), Shenzhen
Appotronics Hongye Investment Partnership (LP), and Shenzhen
Jinleijing Investment Limited Partnership (LP).
2. The Company is unaware that whether there is a related-party
relationship among circulating shareholders or whether they are
persons acting in concert as stipulated in the Measures for the
Administration of the Takeover of Listed Companies.
Description on preferred N/A
shareholders of voting power
recovered and shareholding
numbers
2.3 Total number of preferred shareholders, and the shareholding of top ten preferred shareholders and
top ten unrestricted preferred shareholders as of the end of reporting period
□ Applicable √ N/A
III. Significant Events
3.1 Significant changes in the Company’s main accounting line items and financial highlights and
reasons thereof
√Applicable N/A
1. Changes in line items of the balance sheet and reasons thereof
In RMB
Proportion of Reason for change
March 31, 2021 December 31,
Item change (%)
2020
188,974,088.57 341,660,832.43 -44.69% Primarily due to recovery of
Accounts the opening balance of
receivable accounts receivable during the
reporting period
2,024,508.81 11,959,000.00 -83.07% Primarily due to the acceptance
Receivable of matured bank acceptance
s financing bills during the reporting
period
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The First Quarter Report in 2021
2,551,858.10 3,744,655.50 -31.85% Primarily due to collection of
Contract
contract assets due in the
assets
reporting period
Other 33,190,142.08 13,002,195.46 155.27% Primarily due to the increase in
current VAT input tax to be deducted
assets during the reporting period
36,626,275.79 N/A Primarily due to the
Right of
implementation of the new
use assets
lease standard for the first time
13,905,509.02 6,299,781.06 120.73% Primarily due to the increase in
Other
prepayments for the acquisition
non-curren
of fixed assets and intangible
t assets
assets
153,941,489.46 116,822,674.67 31.77% Primarily due to the increase in
Notes payment for goods by issuing
payable banker acceptances during the
reporting period
Employee 20,446,582.80 46,105,566.15 -55.65% Primarily due to the payment
benefits of year-end bonus for 2020
payable during the reporting period
20,202,835.30 59,848,053.83 -66.24% Primarily due to the return of
loans to minority shareholders
Other and the payment for the
payables purchase of remaining equity
interests by the subsidiaries
during the reporting period
39,833,277.93 N/A Primarily due to the
Lease
implementation of the new
liabilities
lease standard for the first time
2. Changes in line items of the income statement and reasons thereof
In RMB
Item For the period For the period Proportion Reason for change
from January 1, from January 1, of change
2021 to March 2020 to March (%)
31, 2021 31, 2020
524,967,989.26 306,900,748.84 71.05% Primarily due to the increase in
Other income operating costs as a result of the
increase in operating income
352,723,171.26 205,113,820.04 71.96% Primarily due to the increase in VAT
Other cost
payable during the reporting period
Taxes and 2,289,691.36 848,964.73 169.70% Primarily due to the increase in
levies marketing promotion expenses as a
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The First Quarter Report in 2021
result of the control over COVID-19
during the reporting period
36,732,891.97 24,522,520.30 49.79% Primarily due to the increase in
Selling
interest income during the reporting
expenses
period
25,761.46 3,640,120.46 -99.29% Primarily due to the decreased
Financial income from wealth management
expenses products recognized during the
reporting period
4,546,382.37 6,951,747.26 -34.60% Primarily due to the decreased
Investment income from wealth management
income products recognized during the
reporting period
7,707,743.19 3,178,689.54 142.48% Primarily due to the reversal of
Impairment provision for bad debts as a result of
losses of assets receipts of more accounts receivable
during the reporting period
-1,714,867.75 -4,230,773.80 -59.47% Primarily due to the decrease in
Losses of asset provision for decline in value of
impairment inventories during the reporting
period
Income tax 20,220,441.99 6,583,959.00 207.12% Primarily due to the increase in total
expenses profits during the reporting period
3. Changes in line items of the cash flow statement and reasons thereof
In RMB
For the period For the period
Proportion
from January 1, from January 1,
Item of change Reason for change
2021 to March 2020 to March
(%)
31, 2021 31, 2020
Net cash flow 106,223,261.88 -38,289,185.55 N/A Primarily due to the increase in
from operating collections from increased operating
activities income
-47,374,910.78 56,240,044.30 -184.24% Primarily due to the payment for
Net cash flow
purchase of wealth management
from investing
products and remaining remaining
activities
equity interests
-32,061,477.75 -53,008,882.64 N/A Primarily due to the new borrowings
Net cash flow and capital contributions to newly
from financing established subsidiaries as a
activities shareholder during the reporting
period
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The First Quarter Report in 2021
Effect of 670,024.42 419,408.45 59.75%
foreign Primarily due to exchange profit or
exchange rate loss and the exchange differences on
changes on translation of financial statements
cash and cash denominated in foreign currencies
equivalents
Net increase in 27,456,897.77 -34,638,615.44 N/A Primarily due to the comprehensive
cash and cash effects on changes in each line item
equivalents above of the cash flow statement
3.2 Description of analysis on progresses of significant events and their influences and solutions
√Applicable □ N/A
(I) Litigation
1. Civil litigation and arbitration cases where the Company acted as a defendant
As of the disclosure date of the report, there have been 7 civil litigation cases where the Company was a
defendant, with details as below:
Cause of Amount
Case No. Plaintiff Defendant/Appellee Patents involved Progress
action involved
(2019) Yue 73
RMB Suspension
Zhi Min Chu ZL201610387831.8
Appotronics 16,145,300 of hearing
No.662
Corporation Limited;
(2019) Yue 73 Infringement Delta First
Shenzhen Futian RMB
Zhi Min Chu of patent rights Electronics, ZL201310017478.0 instance
Suopuni Projection 16,145,300
No.663 of inventions Inc. completed
Video System
(2019) Yue 73 Second
Commercial Firm RMB
Zhi Min Chu ZL20310625063.1 instance
16,145,300
No.664 pending
(2019) Jing 73 RMB First
Min Chu ZL201610387831.8 16,010,000 instance
No.1275 pending
(2019) Jing 73 RMB First
Min Chu Infringemen Fengmi (Beijing) ZL201410249663.7 16,010,000 instance
Delta
No.1276 t of patent Technology Co., pending
Electronics,
(2019) Jing 73 rights of Ltd.; Appotronics RMB Second
Inc.
Min Chu inventions Corporation Limited ZL201310017478.0 16,010,000 instance
No.1277 pending
(2019) Jing 73 RMB First
Min Chu ZL201010624724.5 16,010,000 instance
No.1278 pending
2.Civil litigation and arbitration cases where the Company acted as a plaintiff
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The First Quarter Report in 2021
As of the disclosure date of the report, there have been 22 civil litigation cases where the Company
acted as a plaintiff. In these cases, 20 cases were caused by infringement of invention patents with
relevant claims as follows: requiring the defendant to stop infringing the Company’s patents for
invention and destroy the equipment and mold, etc. used to produce the infringed products; requiring the
defendant to compensate the plaintiff with economic losses and reasonable expenses incurred for
stopping the infringement, and to bear the joint and several liability. No other credit and debt disputes
were involved. And 2 cases were brought for correcting the inventors of the patents, with relevant claims
of correcting LI Yi and HU Fei as the inventors of the US Patent No. 9,024,241 and the China Patent No.
ZL201610387831.8., in which the Company is the owner of these patents.
3. Progress on cases
(1) As of the disclosure date of the report, the Company has received 5 Civil Judgements decided
by the Shenzhen Intermediate People’s Court in the first instance (Case No.: (2019) Yue 03 Min Chu No.
2943, 2944, 2946, 2948 and 2951), holding that the defendants, Delta Electronics Enterprise
Management (Shanghai) Co., Ltd. and Delta Electronics (Jiangsu) Co., Limited, immediately stop
infringing the Company’s patents for invention, and jointly and severally indemnify the plaintiff,
Appotronics Corporation Limited, a compensation of RMB 1,651,997.
(2) The Company entered a nolle prosequi in respect of 6 cases against Delta Company (Case No.
(2019) Yue 03 Min Chu No. 2942, 2945, 2947, 2949, 2950, and 4309). During the reporting period, the
Company has received the Judgement from the court for withdrawal of cases.
(II) Invalidation plea
As of the disclosure date of the report, all invalidation plea cases where the Company acted as a
patentee have been closed by the China National Intellectual Property Administration with a decision to
maintain the validity of the patent right, or withdrawn by the petitioner at their own discretion; and there
has been only 1 invalidation plea case where the Company acted as a petitioner being sub judice by the
China National Intellectual Property Administration, which is related to the invalidation plea against
patents held by Delta Electronics, Inc.
3.3 Commitments failed in completion as scheduled during the reporting period
□ Applicable √ N/A
3.4 Warning of the estimate that the accumulated net profits from the beginning of the year to the end
of the next reporting period will be negative or will change significantly comparing with the same
period of the previous year, and description of reasons
□Applicable √ N/A
Company name Appotronics Corporation Limited
Legal Representative BO Lianming
Date April 24, 2021
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The First Quarter Report in 2021
IV. Annex
4.1 Financial statements
Consolidated Balance Sheet
March 31, 2021
Prepared by: Appotronics Corporation Limited
In RMB, Unaudited
Item March 31, 2021 December 31, 2020
Current Assets:
Cash and bank balances 1,064,372,349.54 1,037,760,573.27
Balances with clearing agencies
Placements with banks and other financial
institutions
Held-for-trading financial assets 114,000,000.00 114,000,000.00
Derivative financial assets
Notes receivable 2,983,038.68 3,726,328.91
Accounts receivable 188,974,088.57 341,660,832.43
Receivables financing 2,024,508.81 11,959,000.00
Prepayments 57,515,174.21 47,447,601.43
Premiums receivable
Amounts receivable under reinsurance
contracts
Reinsurer’s share of insurance contract
reserves
Other receivables 9,273,387.64 12,534,062.15
Including: Interest receivable
Dividends receivable
Financial assets purchased under resale
agreements
Inventories 532,336,267.79 418,812,140.80
Contract assets 2,551,858.10 3,744,655.50
Held-for-sale assets
Non-current assets due within one year
Other current assets 33,190,142.08 13,002,195.46
Total Current Assets 2,007,220,815.42 2,004,647,389.95
Non-current Assets:
Loans and advances
Debt investments
Other debt investments
Long-term receivables 13,346,016.87 13,196,087.78
Long-term equity investments 264,994,418.30 262,744,772.48
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The First Quarter Report in 2021
Other equity instrument investments 11,975,419.38 11,975,419.38
Other non-current financial assets
Investment properties
Fixed assets 446,885,174.58 447,571,328.91
Construction in progress 61,210,351.60 51,576,850.72
Bearer biological assets
Oil and gas assets
Right-of-use assets 36,626,275.79
Intangible assets 316,962,854.87 320,488,235.60
Development expenditure
Goodwill
Long-term prepaid expenses 9,834,264.47 11,572,346.79
Deferred tax assets 97,032,085.69 96,132,114.02
Other non-current assets 13,905,509.02 6,299,781.06
Total Non-current Assets 1,272,772,370.57 1,221,556,936.74
Total assets 3,279,993,185.99 3,226,204,326.69
Current Liabilities:
Short-term borrowings 83,264,853.23 88,778,852.86
Loans from the central bank
Taking from banks and other financial
institutions
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 153,941,489.46 116,822,674.67
Accounts payable 231,375,227.23 226,494,815.90
Receipts in advance 146,692,470.96 153,258,189.88
Contract liabilities 33,124,732.32 31,518,312.59
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 20,446,582.80 46,105,566.15
Taxes payable 20,790,402.18 19,871,846.94
Other payables 20,202,835.30 59,848,053.83
Including: Interest payable
Dividends payable
Fees and commissions payable
Amounts payable under reinsurance
contracts
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The First Quarter Report in 2021
Held-for-sale liabilities
Non-current liabilities due within one 148,102,629.59 181,417,412.46
year
Other current liabilities 2,738,580.06 3,045,831.07
Total Current Liabilities 860,679,803.13 927,161,556.35
Non-current Liabilities:
Insurance contract reserves
Long-term borrowings 77,559,805.75 64,845,281.53
Bonds payable
Including: Preferred shares
Perpetual bonds
Leasing liabilities 39,833,277.93
Long-term payables 3,285,650.00 3,262,450.00
Long-term employee benefits payable
Provisions 29,743,263.71 28,799,354.65
Deferred income 16,762,859.17 16,723,257.15
Deferred tax liabilities
Other non-current liabilities
Total Non-current Liabilities 167,184,856.56 113,630,343.33
Total Liabilities 1,027,864,659.69 1,040,791,899.68
Owners’ (or Shareholders’) equity:
Paid-in capital (or share capital) 452,756,901.00 452,756,901.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 1,251,753,237.13 1,249,020,991.15
Less: Treasury shares
Other comprehensive income -4,232,435.10 -3,214,291.93
Special reserve
Surplus reserve 35,242,179.57 35,242,179.57
General risk reserve
Retained profits 412,247,456.29 357,793,891.96
Total Owners’(or Shareholders’) Equity 2,147,767,338.89 2,091,599,671.75
Attributable to Owners of the Parent
Company
Minority interests 104,361,187.41 93,812,755.26
Total Owners’ (or Shareholders’) 2,252,128,526.30 2,185,412,427.01
Equity
Total Liabilities and Owners’ (or 3,279,993,185.99 3,226,204,326.69
Shareholders’) Equity
Legal Representative: Person in Charge of the Accounting Body: Chief Accountant:
BO Lianming ZHAO Ruijin LIU Jie
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The First Quarter Report in 2021
Balance Sheet of the Parent Company
March 31, 2021
Prepared by: Appotronics Corporation Limited
In RMB, Unaudited
Item March 31, 2021 December 31, 2020
Current Assets:
Cash and bank balances 762,221,931.62 709,932,686.71
Held-for-trading financial assets 114,000,000.00 114,000,000.00
Derivative financial assets
Notes receivable 2,044,438.68 2,314,628.91
Accounts receivable 548,070,417.35 567,539,506.79
Receivables financing 1,564,508.81 100,000.00
Prepayments 11,271,295.91 11,001,439.23
Other receivables 38,701,360.98 71,654,117.57
Including: Interest receivable
Dividends receivable
Inventories 201,672,779.50 169,022,971.44
Contract assets 2,527,363.10 3,720,160.50
Held-for-sale assets
Non-current assets due within one
year
Other current assets 5,615,966.70 1,297,388.01
Total Current Assets 1,687,690,062.65 1,650,582,899.16
Non-current Assets:
Debt investments
Other debt investments
Long-term receivables 13,346,016.87 13,196,087.78
Long-term equity investments 429,504,292.59 421,648,284.99
Other equity instrument 7,075,419.38 7,075,419.38
investments
Other non-current financial assets
Investment properties
Fixed assets 55,118,118.21 57,409,189.33
Construction in progress 48,809,198.03 37,982,329.74
Bearer biological assets
Oil and gas assets
Right-of-use assets 26,691,714.81
Intangible assets 316,061,047.33 319,438,893.42
Development expenditure
Goodwill
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The First Quarter Report in 2021
Long-term prepaid expenses 8,275,720.51 9,562,162.36
Deferred tax assets 7,634,208.87 6,680,188.67
Other non-current assets 8,395,908.82 5,411,561.28
Total Non-current Assets 920,911,645.42 878,404,116.95
Total assets 2,608,601,708.07 2,528,987,016.11
Current Liabilities:
Short-term borrowings 11,536,776.87 11,410,560.27
Held-for-trading financial
liabilities
Derivative financial liabilities
Notes payable 32,786,074.03 32,313,678.21
Accounts payable 215,115,270.39 210,885,240.65
Receipts in advance 2,729,498.87 2,688,210.54
Contract liabilities 20,173,585.14 20,609,190.34
Employee benefits payable 12,291,006.80 28,514,763.09
Taxes payable 9,749,372.53 5,830,858.89
Other payables 38,492,286.58 23,058,804.83
Including: Interest payable
Dividends payable
Held-for-sale liabilities
Non-current liabilities due within 1,000,931.51 1,001,024.66
one year
Other current liabilities 1,362,729.94 1,918,391.60
Total Current Liabilities 345,237,532.66 338,230,723.08
Non-current Liabilities:
Long-term borrowings 29,027,013.70 29,029,715.07
Bonds payable
Including: Preferred shares
Perpetual bonds
Leasing liabilities 28,714,490.82
Long-term payables 3,285,650.00 3,262,450.00
Long-term employee benefits
payable
Provisions 17,309,231.09 16,345,891.60
Deferred income 14,663,632.78 14,450,411.10
Deferred tax liabilities
Other non-current liabilities
Total Non-current Liabilities 93,000,018.39 63,088,467.77
Total Liabilities 438,237,551.05 401,319,190.85
Owners’ (or Shareholders’)
equity:
Paid-in capital (or share capital) 452,756,901.00 452,756,901.00
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The First Quarter Report in 2021
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 1,354,543,757.17 1,351,261,718.84
Less: Treasury shares
Other comprehensive income
Special reserve
Surplus reserve 33,964,638.84 33,964,638.84
Retained profits 329,098,860.01 289,684,566.58
Total Owners’ (or 2,170,364,157.02 2,127,667,825.26
Shareholders’) Equity
Total Liabilities and 2,608,601,708.07 2,528,987,016.11
Owners’ (or Shareholders’) Equity
Legal Representative: Person in Charge of the Accounting Body: Chief Accountant:
BO Lianming ZHAO Ruijin LIU Jie
Consolidated Income Statement
For the period from January 1, 2021 to March 31, 2021
Prepared by: Appotronics Corporation Limited
In RMB, Unaudited
The First Quarter in The First Quarter in
Item
2021 2020
I. Total operating income 524,967,989.26 306,900,748.84
Including: Operating income 524,967,989.26 306,900,748.84
Interest income
Premiums earned
Fee and commission income
II. Total operating costs 468,379,392.92 312,526,014.17
Including: Operating costs 352,723,171.28 205,113,820.04
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
Taxes and levies 2,289,691.36 848,964.73
Selling expenses 36,732,891.97 24,522,520.30
18 / 34
The First Quarter Report in 2021
Administrative expenses 32,052,318.68 34,641,364.44
R&D expenses 44,555,558.17 43,759,224.20
Financial expenses 25,761.46 3,640,120.46
Including: Interest expense 5,017,702.98 5,974,996.52
Interest income 5,330,089.31 2,452,836.80
Add: other income 14,353,842.94 13,967,683.29
Investment income (loss is indicated 4,546,382.37 6,951,747.26
by “-”)
Including: Income from investments 3,610,502.91 719,638.49
in associates and joint ventures
Gains from derecognition of
financial assets at amortized assets
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 “-”)
Losses of credit impairment (loss is 7,707,743.19 3,178,689.54
indicated by “-”)
Impairment losses of assets (loss is -1,714,867.75 -4,230,773.80
indicated by “-”)
Gains from disposal of assets (loss is 2,806,103.11 0.00
indicated by “-”)
III. Operating profit (loss is indicated by “-”) 84,287,800.20 14,242,080.96
Add: Non-operating income 438,003.45 17,320.21
Less: Non-operating expenses 74,302.34 375,729.00
IV. Total profits (total losses are indicated 84,651,501.31 13,883,672.17
by “-”)
Less: Income tax expenses 20,220,441.99 6,583,959.00
V. Net profits (net losses are indicated by 64,431,059.32 7,299,713.17
“-”)
(I) Categorized by the continuity of operation
1. Net profits from continuing 64,431,059.32 7,299,713.17
operations (net losses are indicated by “-”)
2. Net profits from discontinued
operations (net losses are indicated by “-”)
(II) Categorized by the ownership
1.Net profits attributable to 54,409,294.00 13,322,216.29
shareholders of the Parent Company (net
losses are indicated by “-”)
2. Profits or losses attributable to 10,021,765.32 -6,022,503.12
minority shareholders (net losses are
19 / 34
The First Quarter Report in 2021
indicated by “-”)
VI. Other comprehensive income, net of tax -1,030,020.03 3,832,339.57
(I) Other comprehensive income that can -1,018,143.17 3,797,318.81
be attributable to 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 -1,018,143.17 3,797,318.81
will be reclassified to profit or loss
(1) Other comprehensive income that will
be reclassified to 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 -1,018,143.17 3,797,318.81
financial statements denominated in foreign
currencies
(7) Others
(II) Other comprehensive income that can -11,876.86 35,020.76
be attributable to minority shareholders, net
of tax
VII. Total comprehensive income 63,401,039.29 11,132,052.74
(I) Total comprehensive income that can 53,391,150.83 17,119,535.10
be attributable to owners of the Parent
Company
(II) Total comprehensive income that can 10,009,888.46 -5,987,482.36
be attributable to minority shareholders
VIII. Earnings per share:
20 / 34
The First Quarter Report in 2021
(I) Basic earnings per share (RMB/share) 0.12 0.03
(II) Diluted earnings per share (RMB/share) 0.12 0.03
Legal Representative: Person in Charge of the Accounting Body: Chief Accountant:
BO Lianming ZHAO Ruijin LIU Jie
Income Statement of the Parent Company
For the period from January 1, 2021 to March 31, 2021
Prepared by: Appotronics Corporation Limited
In RMB, Unaudited
Item The First Quarter in The First Quarter in
2021 2020
I. Operating income 247,193,016.87 149,314,735.41
Less: Operating costs 165,891,742.11 95,623,590.51
Taxes and levies 1,637,131.20 414,212.02
Selling expenses 15,615,494.24 14,007,454.17
Administrative expenses 19,551,600.41 24,524,700.83
R&D expenses 21,644,886.28 25,612,027.29
Financial expenses -7,184,764.59 -3,569,835.96
Including: Interest expense 645,266.97 13,174.14
Interest income 7,907,864.77 3,279,548.30
Add: other income 9,813,752.75 11,797,618.37
Investment income (loss is indicated by 6,993,373.94 6,232,108.77
“-”)
Including: Income from investments in
associates and joint ventures
Gains from derecognition of
financial assets at amortized assets
Gains from net exposure hedges (loss is
indicated by “-”)
Gains from changes in fair values (loss
is indicated by “-”)
Losses of credit impairment (loss is -497,968.57 175,684.06
indicated by “-”)
Impairment losses of assets (loss is -786,039.04 -3,221,027.46
indicated by “-”)
Gains from disposal of assets (loss is
indicated by “-”)
II. Operating profit (loss is indicated by “-”) 45,560,046.30 7,686,970.29
Add: Non-operating income 409,000.36 17,318.89
Less: Non-operating expenses 63,863.17 14,740.59
21 / 34
The First Quarter Report in 2021
III. Total profits (total losses are indicated by 45,905,183.49 7,689,548.59
“-”)
Less: Income tax expenses 6,840,127.78 4,080,448.28
VI. Net profits (net losses are indicated by “-”) 39,065,055.71 3,609,100.31
(I) Net profits from continuing operations 39,065,055.71 3,609,100.31
(net losses are indicated by “-”)
(II) Net profits from discontinued operations
(net losses are indicated by “-”)
V. Other comprehensive income, net of tax
(I) 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
(II) Other comprehensive income that will be
reclassified to profit or loss
1. Other comprehensive income that will
be reclassified to 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 statements denominated in foreign
currencies
7. Others
VI. Total comprehensive income 39,065,055.71 3,609,100.31
VII. Earnings per share:
(I) Basic earnings per share (RMB/share)
(II) Diluted earnings per share (RMB/share)
Legal Representative: Person in Charge of the Accounting Body: Chief Accountant:
BO Lianming ZHAO Ruijin LIU Jie
22 / 34
The First Quarter Report in 2021
Consolidated Cash Flow Statement
For the period from January 1, 2021 to March 31, 2021
Prepared by: Appotronics Corporation Limited
In RMB, Unaudited
Item
The First Quarter in 2021 The First Quarter in 2020
I. Cash Flows from Operating
Activities:
Cash receipts from the sale of goods 747,962,281.72 397,384,359.17
and the rendering of 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 975,787.81 2,267,811.01
Other cash receipts relating to 35,073,661.68 34,991,984.03
operating activities
Sub-total of cash inflows from 784,011,731.21 434,644,154.21
operating activities
Cash payments for goods purchased 498,775,867.34 298,323,599.64
and services received
Net increase in loans and advances to
customers
Net increase in balance with the
central bank and due from banks and
23 / 34
The First Quarter Report in 2021
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 96,357,835.55 99,940,689.15
employees
Payments of various types of taxes 22,526,122.46 35,918,878.89
Other cash payments relating to 60,128,643.98 38,750,172.08
operating activities
Sub-total of cash outflows from 677,788,469.33 472,933,339.76
operating activities
Net cash flow from operating 106,223,261.88 -38,289,185.55
activities
II. Cash Flows from Investing
Activities:
Cash receipts from disposals and 114,000,000.00 540,000,000.00
recovery of investments
Cash receipts from investment income 935,882.46 6,232,108.77
Net cash receipts from disposals of 2,281.47
fixed assets, intangible assets and other
long-term assets
Net cash receipts from disposals of
subsidiaries and other business units
Other cash receipts relating to
investing activities
Sub-total of cash inflows from 114,935,882.46 546,234,390.24
investing activities
Cash payments to acquire or construct 14,262,405.92 4,994,345.94
fixed assets, intangible assets and other
long-term assets
Cash payments to acquire investments 148,048,387.32 485,000,000.00
Net increase in pledged loans
receivables
Net cash payments for acquisitions of
subsidiaries and other business units
Other cash payments relating to
investing activities
24 / 34
The First Quarter Report in 2021
Sub-total of cash outflows from 162,310,793.24 489,994,345.94
investing activities
Net cash flow from investing -47,374,910.78 56,240,044.30
activities
III. Cash Flows from Financing
Activities:
Cash receipts from capital 22,500,000.00
contributions
Including: cash receipts from capital
contributions from minority
shareholders of subsidiaries
Cash receipts from borrowings 61,489,331.60 31,049,660.15
Other cash receipts relating to
financing activities
Sub-total of cash inflows from 83,989,331.60 31,049,660.15
financing activities
Cash repayments of borrowings 87,595,777.45 77,790,695.10
Cash payments for distribution of 4,677,974.98 6,267,847.69
dividends or profits or settlement of
interest expenses
Including: payments for distribution
of dividends or profits to minority
shareholders of subsidiaries
Other cash payments relating to 23,777,056.92
financing activities
Sub-total of cash outflows from 116,050,809.35 84,058,542.79
financing activities
Net cash flow from financing -32,061,477.75 -53,008,882.64
activities
IV. Effect of Foreign Exchange Rate 670,024.42 419,408.45
Changes on Cash and Cash
Equivalents
V. Net Increase in Cash and Cash 27,456,897.77 -34,638,615.44
Equivalents
Add: Opening balance of cash and 983,525,089.44 829,789,487.86
cash equivalents
VI. Closing Balance of Cash and Cash 1,010,981,987.21 795,150,872.42
Equivalents
Legal Representative: Person in Charge of the Accounting Body: Chief Accountant:
BO Lianming ZHAO Ruijin LIU Jie
25 / 34
The First Quarter Report in 2021
Cash Flow Statement of the Parent Company
For the period from January 1, 2021 to March 31, 2021
Prepared by: Appotronics Corporation Limited
In RMB, Unaudited
Item
The First Quarter in 2021 The First Quarter in 2020
I. Cash Flows from Operating
Activities:
Cash receipts from the sale of goods 313,008,619.07 175,632,699.35
and the rendering of services
Receipts of tax refunds 226,499.93 1,258,598.52
Other cash receipts relating to 84,336,914.41 69,010,030.52
operating activities
Sub-total of cash inflows from 397,572,033.41 245,901,328.39
operating activities
Cash payments for goods purchased 224,490,459.68 148,745,453.42
and services received
Cash payments to and on behalf of 56,702,483.19 58,149,160.99
employees
Payments of various types of taxes 16,254,097.23 2,326,794.97
Other cash payments relating to 23,852,409.59 59,079,296.15
operating activities
Sub-total of cash outflows from 321,299,449.69 268,300,705.53
operating activities
Net cash flow from operating 76,272,583.72 -22,399,377.14
activities
II. Cash Flows from Investing
Activities:
Cash receipts from disposals and 141,500,000.00 540,000,000.00
recovery of investments
Cash receipts from investment income 935,882.46 6,232,108.77
Net cash receipts from disposals of - 2,281.47
fixed assets, intangible assets and other
long-term assets
Net cash receipts from disposals of -
subsidiaries and other business units
Other cash receipts relating to -
investing activities
Sub-total of cash inflows from 142,435,882.46 546,234,390.24
investing activities
Cash payments to acquire or construct 6,947,304.17 3,965,789.67
fixed assets, intangible assets and other
26 / 34
The First Quarter Report in 2021
long-term assets
Cash payments to acquire investments 152,932,903.47 616,213,540.00
Net cash payments for acquisitions of -
subsidiaries and other business units
Other cash payments relating to -
investing activities
Sub-total of cash outflows from 159,880,207.64 620,179,329.67
investing activities
Net cash flow from investing -17,444,325.18 -73,944,939.43
activities
III. Cash Flows from Financing
Activities:
Cash receipts from capital
contributions
Cash receipts from borrowings 20,000,000.00
Other cash receipts relating to
financing activities
Sub-total of cash inflows from 20,000,000.00
financing activities
Cash repayments of borrowings 10,000,000.00
Cash payments for distribution of 257,833.33 230,912.50
dividends or profits or settlement of
interest expenses
Other cash payments relating to 4,153,690.92
financing activities
Sub-total of cash outflows from 4,411,524.25 10,230,912.50
financing activities
Net cash flow from financing -4,411,524.25 9,769,087.50
activities
IV. Effect of Foreign Exchange Rate 123,744.92 -327,571.48
Changes on Cash and Cash
Equivalents
V. Net Increase in Cash and Cash 54,540,479.21 -86,902,800.55
Equivalents
Add: Opening balance of cash and 666,628,105.82 524,648,100.62
cash equivalents
VI. Closing Balance of Cash and Cash 721,168,585.03 437,745,300.07
Equivalents
Legal Representative: Person in Charge of the Accounting Body: Chief Accountant:
BO Lianming ZHAO Ruijin LIU Jie
27 / 34
The First Quarter Report in 2021
4.2 Description of adjustments in opening balances of line items in financial statements of the year due
to the implementation of new revenue standard and new lease standard since 2021
√Applicable N/A
Consolidated Balance Sheet
In RMB
December 31,
Item January 1, 2021 Adjusted amount
2020
Current Assets:
Cash and bank balances 1,037,760,573.27 1,037,760,573.27
Balances with clearing agencies
Placements with banks and
other financial institutions
Held-for-trading financial assets 114,000,000.00 114,000,000.00
Derivative financial assets
Notes receivable 3,726,328.91 3,726,328.91
Accounts receivable 341,660,832.43 341,660,832.43
Receivables financing 11,959,000.00 11,959,000.00
Prepayments 47,447,601.43 49,174,631.52 1,727,030.09
Premiums receivable
Amounts receivable under
reinsurance contracts
Reinsurer’s share of insurance
contract reserves
Other receivables 12,534,062.15 12,534,062.15
Including: Interest receivable
Dividends receivable
Financial assets purchased
under resale agreements
Inventories 418,812,140.80 418,812,140.80
Contract assets 3,744,655.50 3,744,655.50
Held-for-sale assets
Non-current assets due within
one year
Other current assets 13,002,195.46 13,002,195.46
Total Current Assets 2,004,647,389.95 2,006,374,420.04 1,727,030.09
Non-current Assets:
Loans and advances
Debt investments
Other debt investments
Long-term receivables 13,196,087.78 13,196,087.78
Long-term equity investments 262,744,772.48 262,744,772.48
28 / 34
The First Quarter Report in 2021
Other equity instrument 11,975,419.38 11,975,419.38
investments
Other non-current financial
assets
Investment properties
Fixed assets 447,571,328.91 447,571,328.91
Construction in progress 51,576,850.72 51,576,850.72
Bearer biological assets
Oil and gas assets
Right-of-use assets 39,368,070.17 39,368,070.17
Intangible assets 320,488,235.60 320,488,235.60
Development expenditure
Goodwill
Long-term prepaid expenses 11,572,346.79 11,572,346.79
Deferred tax assets 96,132,114.02 96,455,790.38 323,676.36
Other non-current assets 6,299,781.06 6,299,781.06
Total Non-current Assets 1,221,556,936.74 1,261,248,683.27 39,691,746.53
Total assets 3,226,204,326.69 3,267,623,103.31 41,418,776.62
Current Liabilities:
Short-term borrowings 88,778,852.86 88,778,852.86
Loans from the central bank
Taking from banks and other
financial institutions
Held-for-trading financial
liabilities
Derivative financial liabilities
Notes payable 116,822,674.67 116,822,674.67
Accounts payable 226,494,815.90 226,494,815.90
Receipts in advance 153,258,189.88 153,258,189.88
Contract liabilities 31,518,312.59 31,518,312.59
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 46,105,566.15 46,105,566.15
Taxes payable 19,871,846.94 19,871,846.94
Other payables 59,848,053.83 58,821,952.01 -1,026,101.82
Including: Interest payable
29 / 34
The First Quarter Report in 2021
Dividends payable
Fees and commissions payable
Amounts payable under
reinsurance contracts
Held-for-sale liabilities
Non-current liabilities due 181,417,412.46 181,417,412.46
within one year
Other current liabilities 3,045,831.07 3,045,831.07
Total Current Liabilities 927,161,556.35 926,135,454.53 -1,026,101.82
Non-current Liabilities:
Insurance contract reserves
Long-term borrowings 64,845,281.53 64,845,281.53
Bonds payable
Including: Preferred shares
Perpetual bonds
Leasing liabilities 42,411,856.75 42,411,856.75
Long-term payables 3,262,450.00 3,262,450.00
Long-term employee benefits
payable
Provisions 28,799,354.65 28,799,354.65
Deferred income 16,723,257.15 16,723,257.15
Deferred tax liabilities
Other non-current liabilities
Total Non-current Liabilities 113,630,343.33 156,042,200.08 42,411,856.75
Total Liabilities 1,040,791,899.68 1,082,177,654.61 41,385,754.93
Owners’ (or Shareholders’) equity:
Paid-in capital (or share capital) 452,756,901.00 452,756,901.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 1,249,020,991.15 1,249,020,991.15
Less: Treasury shares
Other comprehensive income -3,214,291.93 -3,214,291.93
Special reserve
Surplus reserve 35,242,179.57 35,242,179.57
General risk reserve
Retained profits 357,793,891.96 357,838,162.29 44,270.33
Total Owners’ (or 2,091,599,671.75 2,091,643,942.08 44,270.33
Shareholders’) Equity Attributable
to Owners of the Parent Company
Minority interests 93,812,755.26 93,801,506.62 -11,248.64
Total Owners’ (or 2,185,412,427.01 2,185,445,448.70 33,021.69
Shareholders’) Equity
30 / 34
The First Quarter Report in 2021
Total Liabilities and 3,226,204,326.69 3,267,623,103.31 41,418,776.62
Owners’ (or Shareholders’) Equity
Description of adjustments on each item:
√Applicable □ N/A
The Company, as implemented the new lease standard since January 1, 2021, adjusted the opening
balance of relevant line items in the financial statements of the first implementation year according to
amount that have been affected by the first implementation of the new lease standard.
Item December 31, 2020 January 1, 2021 Adjusted amount
Prepayments 47,447,601.43 49,174,631.52 1,727,030.09
Right-of-use assets 39,368,070.17 39,368,070.17
Deferred tax assets 96,132,114.02 96,455,790.38 323,676.36
Other payables 59,848,053.83 58,821,952.01 -1,026,101.82
Lease liabilities 42,411,856.75 42,411,856.75
Retained profits 357,793,891.96 357,838,162.29 44,270.33
Minority interests 93,812,755.26 93,801,506.62 -11,248.64
Balance Sheet of the Parent Company
In RMB
Item December 31, 2020 January 1, 2021 Adjusted amount
Current Assets:
Cash and bank balances 709,932,686.71 709,932,686.71
Held-for-trading financial 114,000,000.00 114,000,000.00
assets
Derivative financial assets
Notes receivable 2,314,628.91 2,314,628.91
Accounts receivable 567,539,506.79 567,539,506.79
Receivables financing 100,000.00 100,000.00
Prepayments 11,001,439.23 13,163,045.06 2,161,605.83
Other receivables 71,654,117.57 71,654,117.57
Including: Interest receivable
Dividends receivable
Inventories 169,022,971.44 169,022,971.44
Contract assets 3,720,160.50 3,720,160.50
Held-for-sale assets
Non-current assets due within
one year
Other current assets 1,297,388.01 1,297,388.01
31 / 34
The First Quarter Report in 2021
Total Current Assets 1,650,582,899.16 1,652,744,504.99 2,161,605.83
Non-current Assets:
Debt investments
Other debt investments
Long-term receivables 13,196,087.78 13,196,087.78
Long-term equity investments 421,648,284.99 421,648,284.99
Other equity instrument 7,075,419.38 7,075,419.38
investments
Other non-current financial
assets
Investment properties
Fixed assets 57,409,189.33 57,409,189.33
Construction in progress 37,982,329.74 37,982,329.74
Bearer biological assets
Oil and gas assets
Right-of-use assets 29,494,047.23 29,494,047.23
Intangible assets 319,438,893.42 319,438,893.42
Development expenditure
Goodwill
Long-term prepaid expenses 9,562,162.36 9,562,162.36
Deferred tax assets 6,680,188.67 7,000,018.34 319,829.67
Other non-current assets 5,411,561.28 5,411,561.28
Total Non-current Assets 878,404,116.95 908,217,993.85 29,813,876.90
Total assets 2,528,987,016.11 2,560,962,498.84 31,975,482.73
Current Liabilities:
Short-term borrowings 11,410,560.27 11,410,560.27
Held-for-trading financial
liabilities
Derivative financial liabilities
Notes payable 32,313,678.21 32,313,678.21
Accounts payable 210,885,240.65 210,885,240.65
Receipts in advance 2,688,210.54 2,688,210.54
Contract liabilities 20,609,190.34 20,609,190.34
Employee benefits payable 28,514,763.09 28,514,763.09
Taxes payable 5,830,858.89 5,830,858.89
Other payables 23,058,804.83 23,058,804.83
Including: Interest payable
Dividends payable
Held-for-sale liabilities
Non-current liabilities due 1,001,024.66 1,001,024.66
within one year
Other current liabilities 1,918,391.60 1,918,391.60
32 / 34
The First Quarter Report in 2021
Total Current Liabilities 338,230,723.08 338,230,723.08
Non-current Liabilities:
Long-term borrowings 29,029,715.07 29,029,715.07
Bonds payable
Including: Preferred shares
Perpetual bonds
Leasing liabilities 31,626,245.01 31,626,245.01
Long-term payables 3,262,450.00 3,262,450.00
Long-term employee benefits
payable
Provisions 16,345,891.60 16,345,891.60
Deferred income 14,450,411.10 14,450,411.10
Deferred tax liabilities
Other non-current liabilities
Total Non-current Liabilities 63,088,467.77 94,714,712.78 31,626,245.01
Total Liabilities 401,319,190.85 432,945,435.86 31,626,245.01
Owners’ (or Shareholders’) equity:
Paid-in capital (or share 452,756,901.00 452,756,901.00
capital)
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 1,351,261,718.84 1,351,261,718.84
Less: Treasury shares
Other comprehensive income
Special reserve
Surplus reserve 33,964,638.84 33,964,638.84
Retained profits 289,684,566.58 290,033,804.30 349,237.72
Total Owners’ (or 2,127,667,825.26 2,128,017,062.98 349,237.72
Shareholders’) Equity
Total Liabilities and 2,528,987,016.11 2,560,962,498.84 31,975,482.73
Owners’ (or Shareholders’)
Equity
Description of adjustments on each item:
√Applicable □ N/A
The Company, as implemented the new lease standard since January 1, 2021, adjusted the opening
balance of relevant line items in the financial statements of the first implementation year according to
amount that have been affected by the first implementation of the new lease standard.
Item December 31, 2020 January 1, 2021 Adjusted amount
Prepayments 11,001,439.23 13,163,045.06 2,161,605.83
Right-of-use assets 29,494,047.23 29,494,047.23
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The First Quarter Report in 2021
Deferred tax assets 6,680,188.67 7,000,018.34 319,829.67
Lease liabilities 31,626,245.01 31,626,245.01
Retained profits 289,684,566.58 290,033,804.30 349,237.72
4.3 Description of retrospective adjustments in comparable data for previous periods upon the first
adoption of the new revenue standard and new lease standard since 2021
□ Applicable √ N/A
4.4 Auditor’s report
□ Applicable √ N/A
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