The First Quarter Report in 2022
Stock Code: 688007 Stock Short Name: Appotronics
Appotronics Corporation Limited
The First Quarter Report in 2022
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 jointly and severally liable for the truthfulness, accuracy, and
completeness of the content hereof.
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, Person in Charge of the Accounting Body, and Chief Accountant of the
Company hereby represent that the information of the financial statements contained in this
Quarterly Report are 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《2022 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。
This First Quarter Report in 2022 is voluntarily disclosed by Appotronics Corporation Limited;
in the event of any inconsistency in the understanding of the Chinese and English versions of this
Report, the Chinese version prevails.
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The First Quarter Report in 2022
I. Major financial data
(I) Main accounting data and financial indicators
In RMB
Change on a
Item During the reporting period
year-on-year basis (%)
Operating income 525,139,870.53 0.03
Net profit attributable to
shareholders of the listed 17,858,914.53 -67.18
company
Net profit attributable to
shareholders of the listed
550,708.61 -98.50
company after deduction of
non-recurring profit or loss
Net cash flow from operating
-68,223,422.47 -164.23
activities
Basic earnings per share
0.04 -66.67
(RMB/share)
Diluted earnings per share
0.04 -66.67
(RMB/share)
Weighted average return on net -1.84 percentage
0.73
assets (%) points
Total R&D investments 54,924,987.12 23.27
Proportion of R&D investments +1.97 percentage
10.46
to operating income (%) points
Changes at the end of
At the end of the At the end of the the reporting period
reporting period prior year from the end of the
prior year (%)
Total assets 4,078,683,693.46 4,097,230,955.90 -0.45
Owners’ equity attributable to
shareholders of the listed 2,470,826,659.30 2,438,064,581.44 1.34
company
(II) Items and amounts of non-recurring profit or loss
In RMB
Item Amount for the current period Description
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The First Quarter Report in 2022
Gain or loss on disposal of non-current -163,268.42
assets
Government grants recognized in profit or 9,788,819.73
loss for the current period (excluding
government grants that are closely related
to the business of the Company and are
provided in fixed amount or quantity
continuously according to the applicable
polices and standards of the country)
Profit or loss on entrusted investments or 2,993,304.56
assets management
Net profit or loss of subsidiaries from the 6,705,942.59
beginning of the period up to the business
combination date recognized as a result of
business combination of enterprises
involving enterprises under common
control
Profit or loss on changes in the fair value of -130,000.00
held-for-trading financial assets, derivative
financial assets, held-for-trading financial
liabilities and derivative financial liabilities
and investment income on disposal of
held-for-trading financial assets, 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 and expenses 79,683.91
Other profits or losses meeting the 316,603.77
definition of non-recurring profit or loss
Less: Effect of income taxes 1,864,519.20
Effects attributable to minority 418,361.02
interests (net of tax)
Total 17,308,205.92
Description of 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
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The First Quarter Report in 2022
Item % Change Main reason
The main reasons are the year-on-year
decrease by 11.5% in the incomes from
the cinema projection service business,
the decrease by 4.5% in the gross margin
of the cinema projection service
Net profit attributable to business, the year-on-year increase of
shareholders of the listed -67.18 RMB 18.1673 million of selling
company expenses, the year-on-year increase of
RMB 22.0279 million in share-based
payment expenses, and the year-on-year
increase of RMB 10.3694 million in
R&D investments, which lead to the
year-on-year decrease in the total profits
Net profit attributable to
shareholders of the listed
-98.50 Same as the above
company after deduction of
non-recurring profit or loss
The main reasons are the year-on-year
increase in the payment for stock
Net cash flow from operating
-164.23 buildup, the payment for employee
activities
salaries and bonuses, and period
expenses during the reporting period
The main reasons are the decrease in the
Basic earnings per share net profit attributable to shareholders of
-66.67
(RMB/share) the listed company during the reporting
period
The main reasons are the decrease in the
Diluted earnings per share net profit attributable to shareholders of
-66.67
(RMB/share) the listed company during the reporting
period
1. Analysis of business operation during the reporting period
During the reporting period, the Company expanded business operation focusing on
“core technologies + core devices + application scenarios”, further optimized the business
structure, and achieved outstanding results especially in the business of laser core devices.
Key development of the Company’s main business during the reporting period is as
follows:
Firstly, the business of laser projection core devices achieved rapid expansion in the
household field. The Company supplied customized laser mini projectors, laser TV light
generators, or other products to Dangbei, Anker Innovations, VAVA, Xgimi, ViewSonic,
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The First Quarter Report in 2022
Haier, Hewlett-Packard, and other companies. In the first quarter of 2022, we achieved the
operating income of RMB 77.7392 million from this business, a year-on-year increase by
91.21%. The joining of more and more partners in the ALPD laser projection ecology
chain further proves the competitive advantages of our core technologies.
Secondly, Formovie, the controlled subsidiary for the TO C business of the Company,
further optimized its business structure. By increasing the proportion of incomes from
own-brand products from 36% to 56% on a year-on-year basis, Formovie gradually built
the image of Formovie’s own brand to start the benign cycle for its business. Formovie
improved its overall gross margin by nearly 4 percentage points, mainly due to the increase
in incomes from Formovie own-brand products and the increase in the gross margin of
products. In particular, the gross margin of Formovie’s laser TV business increased by
nearly 10 percentage points on a year-on-year basis mainly due to the increase in the
proportion of incomes from own-brand high-end TVs.
Since the beginning of 2022, the recurrence of COVID-19 in many cities across China
caused certain impact on the Company’s business development, which put pressure on both
the incomes and profits of the Company in the first quarter, especially the obvious impact
caused on the business education and cinema businesses. The incomes from business
education of the Company decreased by 48.73% on a year-on-year basis; however, by
focusing on the market of higher education, we achieved improvement in the gross margin
compared with the previous year. With respect to the cinema projection service business,
some places implemented shutdown measures in compliance with requirements for the
prevention and control of COVID-19. During the reporting period, the incomes from the
cinema projection service business decreased by 11.58%, and the gross margin decreased
by 4.54 percentage points, which are the main reasons for the year-on-year decrease in the
Company’s profits in the current period.
2. Analysis of factors affecting profits
With respect to expenses, during the reporting period, the Company’s selling expenses
increased by RMB 18.1673 million, increased by 49.46% on a year-on-year basis, mainly
due to the market investment expenses of RMB 14.1538 million to implement the
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The First Quarter Report in 2022
Company’s policy of active market competition, increasing investment for the consumer
market, and building own brands of the Company.
To motivate core personnel playing a significant role in the new growth curve of the
Company in the future, the Company launched two restricted share incentive plans in 2021,
under which the share-based payment expenses were RMB 25.3099 million in the current
period, increased by 671.16% on a year-on-year basis.
As a result of the above, the Company experienced significant changes in the profits of
the current period compared with the same period of the last year. With the share-based
payment expenses not being included, the net profits attributable to owners of the parent
company are RMB 46.7498 million, and the net profits attributable to owners of the parent
company after deduction of non-recurring profit or loss are RMB 29.4416 million.
3. Development of innovation businesses
(1) Vehicle-mounted display business
A trend for the future vehicle industry is the intelligentization of vehicles. The new
requirements on vehicle-mounted displays for intelligent cabins motivated innovative
application of laser projection display as vehicle-mounted displays, such as drive assistance,
and human-machine interaction experience and entertainment for passengers, including the
vehicle roof screen, vehicle window transparent display, large screen for entertainment,
AR-HUD, smart surfaces, smart laser headlights, etc., which lead to a broad market space
for vehicle-mounted display.
During the reporting period, we acquired the certificate for IATF 16949:2016 Quality
Management System, the admission certificate for entering the domestic and overseas
vehicle supply chain, which facilitates further expansion of the Company’s
vehicle-mounted laser projection display business. By now, we have engaged in
cooperation with some vehicle manufacturers and tier-1 suppliers. It’s expected that, after
restoration from COVID-19, we will showcase the results of our cooperation with vehicle
manufacturer at various major vehicle exhibitions throughout China.
(2) AR business
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The First Quarter Report in 2022
We have achieved breakthrough in the technology research and development in the
AR filed by successfully developing the AR core device module which can achieve
full-color, dynamic, and high-definition display effects. At present, we have been invited to
the 2022 International Conference on Display Technology (ICDT 2022); moreover, we
plan to present relevant R&D achievements on a stage-by-stage basis with reference to
further optimization of AR technologies.
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
Total number of preferred
Total number of ordinary
shareholders whose voting right has
shareholders as of the end of 14,426 N/A
been restituted as of the end of the
the reporting period
reporting period (if any)
Shares held by top 10 shareholders
Number of Shares
non-tradable pledged,
Proport shares held, marked, or
ion of Number of including frozen
Nature of Number of
Shareholder shareho non-tradable the shares
shareholder shares held Statu
lding shares held lent out
s of Quant
(%) under the
share ity
refinancing
s
arrangement
Shenzhen Domestic
Appotronics non-stated
79,762,679 17.62 79,762,679 79,762,679 None 0
Holdings owned
Limited corporation
Shenzhen
Yuanshi
Laser Domestic
Industrial non-stated
24,139,500 5.33 24,139,500 24,139,500 None 0
Investment owned
Consulting corporation
Partnership
(LP)
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The First Quarter Report in 2022
Nantong
Strait Domestic
Appotronics non-stated
23,080,329 5.10 0 0 None 0
Investment owned
Partnership corporation
(LP)
Shenzhen
Appotronics Domestic
Daye non-stated
20,430,250 4.51 20,430,250 20,430,250 None 0
Investment owned
Partnership corporation
(LP)
Citron PE
Investment Foreign
17,435,203 3.85 0 0 None 0
(Hong Kong) corporation
2016 Limited
Shenzhen
Appotronics Domestic
Hongye non-stated
15,662,374 3.46 15,662,374 15,662,374 None 0
Investment owned
Partnership corporation
(LP)
Shenzhen
Jinleijing Domestic
Investment non-stated
12,353,106 2.73 12,353,106 12,353,106 None 0
Limited owned
Partnership corporation
(LP)
Green Future
Foreign
Holdings 12,333,426 2.72 0 0 None 0
corporation
Limited
SAIF IV
Hong Kong
Foreign
(China 11,367,191 2.51 0 0 None 0
corporation
Investments)
Limited
Shenzhen
Appotronics Domestic
Chengye non-stated
10,394,846 2.30 10,394,846 10,394,846 None 0
Consulting owned
Partnership corporation
(LP)
Shares held by top 10 holders of tradable shares
Shareholder Number of tradable shares held Type and number of shares
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The First Quarter Report in 2022
Type of shares Quantity
RMB-denomina
Nantong Strait Appotronics
23,080,329 ted ordinary 23,080,329
Investment Partnership (LP)
share
RMB-denomina
Citron PE Investment (Hong
17,435,203 ted ordinary 17,435,203
Kong) 2016 Limited
share
RMB-denomina
Green Future Holdings Limited 12,333,426 ted ordinary 12,333,426
share
RMB-denomina
SAIF IV Hong Kong (China
11,367,191 ted ordinary 11,367,191
Investments) Limited
share
Shenzhen Guochuang Chenggu
RMB-denomina
Capital Management Co., Ltd. -
6,674,369 ted ordinary 6,674,369
Shenzhen Chengguhui Equity
share
Investment Partnership (LP)
RMB-denomina
LUO Xiaobin 6,333,626 ted ordinary 6,333,626
share
China Merchants Bank Co.,
Ltd. - Agricultural Bank of RMB-denomina
China Huili Strategic Income 5,778,752 ted ordinary 5,778,752
One-year Holding Hybrid share
Securities Investment Fund
China Construction Bank
Corporation - Invesco Great RMB-denomina
Wall Environment Protection 5,419,897 ted ordinary 5,419,897
Advantageous Stock Securities share
Investment Fund
Bank of China Co., Ltd. -
RMB-denomina
Invesco Great Wall Selected
4,867,793 ted ordinary 4,867,793
Hybrid Securities Investment
share
Fund
Bank of Ningbo Co., Ltd. -
Invesco Great Wall Growth RMB-denomina
Leader One-year Holding 4,728,701 ted ordinary 4,728,701
Hybrid Securities Investment share
Fund
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The First Quarter Report in 2022
1. As of March 31, 2022, the Company has received no statement
from aforementioned shareholders to confirm there is a related-party
relationship or concerted action, except the concerted action among
Shenzhen Appotronics Holdings Co., Ltd., Shenzhen Yuanshi Laser
Industrial Investment Consulting Partnership (LP), Shenzhen
Affiliates or concert parties Appotronics Daye Investment Partnership (LP), Shenzhen
among the shareholders stated Appotronics Hongye Investment Partnership (LP), Shenzhen
above Jinleijing Investment Limited Partnership (LP), and Shenzhen
Appotronics Chengye Consulting Partnership (LP) in top 10
shareholders of the Company.
2. We are not aware 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 N/A
and top 10 holders of
non-restricted shares (if any)
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
(I) Litigation and arbitration
1. During the reporting period, the Company received the civil ruling (2019) Jing 73 Min Chu No.
1275 and (2019) Jing 73 Min Chu NO. 1276 issued by Beijing Intellectual Property Court in January
2022. In the judgment of the first instance, Beijing Intellectual Property Court dismissed all the claims of
Delta Electronics.
2. During the reporting period, the Company settled with Delta Electronics, Inc. and withdrew the
case (case No.: 19-cv-00466-RGD-LRL) concerning the dispute over the inventor of the US patent for
invention No. US9,024,241.
3. During the reporting period, the Company received a Notice of Responding to Action from the
American Arbitration Association (case No.: 01-22-0001-2735), in which the plaintiffs GDC Cayman
and GDC BVI raised arbitration claims to the American Arbitration Association against the Company
and Appotronics HK on the ground that the Company failed to assist them in getting listed, hence
constituting violation of agreement; the amount involved is USD 38.00 million in total.
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The First Quarter Report in 2022
4. During the reporting period, the subsidiaries Appotronics Xiaoming and Beijing Fengmi received
a Notice of Responding to Action from Zhejiang Higher People’s Court (case No.: (2022) Zhe 01 Min
Chu No. 157), in which Shenzhen Wanbo Technology Co., Ltd. initiated the civil litigation on the ground
that Appotronics Xiaoming and Beijing Fengmi infringed the design patent No. ZL201930556138.3
owned by Shenzhen Wanbo, requesting the court to order for stopping the act of infringing the design
patent and making compensation for infringement in the amount of RMB 3.00 million.
(II) Petition for invalidation
As of the release date of this report, two cases of petition for invalidation in which the Company is
the patentee are under trial at the National Intellectual Property Administration, involving the patents
ZL200810065225.X and ZL201510464408.9. One case (case No.: 6W120359) of petition for
invalidation in which Beijing Fengmi, a subsidiary of the Company, is the patentee is under trial at the
National Intellectual Property Administration, involving the design patent 202130075102.0. In March
2022, the subsidiary Beijing Fengmi received a Notice of Termination of Examination on Petition for
Invalidation (case No.: 6W120283) from the National Intellectual Property Administration, stating that
the petitioner had submitted a statement on withdrawing the petition for invalidation, and the trial of this
case had been terminated.
As of the release date of this Report, the Company, as the petitioner, initiated 3 cases of petition for
invalidation to the National Intellectual Property Administration against Delta Electronics. In January
2022, the subsidiary Beijing Fengmi submitted a petition for invalidation (case No.: 6W120711) to the
National Intellectual Property Administration against Shenzhen Wanbo Technology Co., Ltd. concerning
the design patent for the “projector (T6)” (patent No.: 202130243902.9).
IV. Quarterly financial statements
(I) Type of audit opinions
□ Applicable √ N/A
(II) Financial statements
Consolidated Balance Sheet
March 31, 2022
Prepared by: Appotronics Corporation Limited
In RMB Audit type: Unaudited
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The First Quarter Report in 2022
Item March 31, 2022 December 31, 2021
Current Assets:
Cash and bank balances 893,944,617.32 957,729,831.15
Balances with clearing agencies
Placements with banks and other
financial institutions
Held-for-trading financial assets 405,070,000.00 417,200,000.00
Derivative financial assets
Notes receivable 2,606,670.80 5,256,603.03
Accounts receivable 249,432,125.61 403,134,471.87
Receivables financing 514,860.00 244,860.00
Prepayments 96,563,840.23 98,116,970.83
Premiums receivable
Amounts receivable under
reinsurance contracts
Reinsurer’s share of insurance
contract reserves
Other receivables 31,072,645.86 30,472,595.66
Including: Interest receivable
Dividend receivable
Financial assets purchased under
resale agreements
Inventories 935,536,289.44 769,621,133.00
Contract assets 4,169,941.83 3,903,859.23
Assets held for sale
Non-current assets due within one 2,688,446.82 3,473,049.18
year
Other current assets 80,695,678.12 52,761,820.83
Total current assets 2,702,295,116.03 2,741,915,194.78
Non-current Assets:
Loans and advances
Debt investments
Other debt investments
Long-term accounts receivable 6,615,854.85 5,793,552.74
Long-term equity investment 293,458,118.88 293,601,085.27
Investment in other equity 7,075,419.38 7,075,419.38
instruments
Other non-current financial assets
Investment property
Fixed assets 468,505,681.65 470,410,450.18
Construction in progress 161,158,824.60 148,620,511.35
Productive biological assets
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The First Quarter Report in 2022
Oil and gas assets
Use right assets 52,715,114.45 26,803,910.76
Intangible assets 297,728,916.34 301,164,605.56
Development expenditure
Goodwill
Long-term prepaid expenses 8,335,147.04 10,126,164.82
Deferred tax assets 65,681,214.69 80,721,419.29
Other non-current assets 15,114,285.55 10,998,641.77
Total non-current assets 1,376,388,577.43 1,355,315,761.12
Total assets 4,078,683,693.46 4,097,230,955.90
Current Liabilities:
Short-term borrowings 55,570,867.46 5,570,878.11
Loans from the central bank
Taking from banks and other
financial institutions
Held-for-trading financial
liabilities
Derivative financial liabilities
Notes payable 163,544,873.77 134,378,967.61
Accounts payable 328,130,174.79 419,966,567.27
Advance from customers 147,276,771.55 130,288,312.62
Contract liabilities 59,693,156.56 45,541,629.55
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 25,691,883.12 64,119,087.51
Taxes payable 29,696,086.83 19,546,190.23
Other payables 35,836,400.43 54,115,784.80
Including: Interest payable
Dividend payable
Fees and commissions payable
Amounts payable under
reinsurance contracts
Liabilities held for sale
Non-current liabilities due within
129,967,297.58 154,785,116.35
one year
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The First Quarter Report in 2022
Other current liabilities 6,188,785.48 19,561,104.12
Total current liabilities 981,596,297.57 1,047,873,638.17
Non-current Liabilities:
Insurance contract reserves
Long-term borrowings 348,486,808.11 368,635,614.64
Bonds payable
Including: Preferred shares
Perpetual bonds
Leasing liabilities 55,683,911.42 10,789,352.69
Long-term payables
Long-term employee benefits
payable
Estimated liabilities 36,709,808.03 36,428,688.94
Deferred income 9,400,442.21 10,266,982.08
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 450,280,969.77 426,120,638.35
Total liabilities 1,431,877,267.34 1,473,994,276.52
Owners’ Equity (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 1,417,623,095.46 1,400,605,136.65
Less: Treasury shares
Other comprehensive income -18,955,308.08 -16,840,512.60
Special reserve
Surplus reserve 56,265,868.31 56,265,868.31
General risk reserve
Undistributed profit 563,136,102.61 545,277,188.08
Total owners’ (or shareholders’)
equity attributable to owners of the 2,470,826,659.30 2,438,064,581.44
Parent Company
Minority interests 175,979,766.82 185,172,097.94
Total owners’ (or
2,646,806,426.12 2,623,236,679.38
shareholders’) equity
Total liabilities and owners’
4,078,683,693.46 4,097,230,955.90
(or shareholders’) equity
Legal Representative: LI Yi Chief Accountant: WANG Yingxia Person in Charge of the Accounting
Body: WANG Yingxia
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The First Quarter Report in 2022
Consolidated Income Statement
For the period from January to March 2022
Prepared by: Appotronics Corporation Limited
In RMB Audit type: unaudited
The First Quarter in The First Quarter in
Item
2022 2021
I. Total operating income 525,139,870.53 524,967,989.26
Including: Operating income 525,139,870.53 524,967,989.26
Interest income
Premiums earned
Fee and commission income
II. Total operating costs 523,692,375.90 468,379,392.92
Including: Operating costs 354,352,194.03 352,723,171.28
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 additions 2,776,916.38 2,289,691.36
Selling expenses 54,900,208.42 36,732,891.97
Administrative expenses 54,622,705.64 32,052,318.68
R&D expenses 54,924,987.12 44,555,558.17
Financial expenses 2,115,364.31 25,761.46
Including: Interest expense 5,325,013.75 5,017,702.98
Interest income 3,267,436.22 5,330,089.31
Add: Other income 12,499,685.94 14,353,842.94
Investment income (loss is indicated
1,790,753.08 4,546,382.37
by “-”)
Including: Income from investments
-1,202,551.48 3,610,499.91
in associates and joint 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
-130,000.00
(loss is indicated by “-”)
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The First Quarter Report in 2022
Losses of credit impairment (loss is
7,933,147.01 7,707,743.19
indicated by “-”)
Impairment losses of assets (loss is
1,018,024.96 -1,714,867.75
indicated by “-”)
Gains from disposal of assets (loss is
3,849.89 2,806,103.11
indicated by “-”)
III. Operating profit (loss is indicated by “-”) 24,562,955.51 84,287,800.20
Add: Non-operating income 79,121.80 438,003.45
Less: Non-operating expense 166,556.20 74,302.34
IV. Total profits (total losses are indicated
24,475,521.11 84,651,501.31
by “-”)
Less: Income tax expenses 17,084,893.94 20,220,441.99
V. Net profits (net losses are indicated by
7,390,627.17 64,431,059.32
“-”)
(I) Categorized by the continuity of operation
1. Net profits from continuing
7,390,627.17 64,431,059.32
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
shareholders of the Parent Company (net 17,858,914.53 54,409,294.00
losses are indicated by "-")
2. Profits or losses attributable to
minority shareholders (net losses are -10,468,287.36 10,021,765.32
indicated by “-”)
VI. Other comprehensive income, net of tax -2,098,194.75 -1,030,020.03
(I) Other comprehensive income that can
be attributable to owners of the Parent -2,114,795.48 -1,018,143.17
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 -2,114,795.48 -1,018,143.17
16 / 20
The First Quarter Report in 2022
will be reclassified to profit or loss
(1) Other comprehensive income that will -531,438.79
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 -1,583,356.69 -1,018,143.17
currencies
(7) Others
(II) Other comprehensive income that can
be attributable to minority shareholders, net 16,600.73 -11,876.86
of tax
VII. Total comprehensive income 5,292,432.42 63,401,039.29
(I) Total comprehensive income that can
be attributable to owners of the Parent 15,744,119.05 53,391,150.83
Company
(II) Total comprehensive income that can
-10,451,686.63 10,009,888.46
be attributable to minority shareholders
VIII. Earnings per share:
(I) Basic earnings per share (RMB/share) 0.04 0.12
(II) Diluted earnings per share 0.04 0.12
(RMB/share)
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.
Legal Representative: LI Yi Chief Accountant: WANG Yingxia Person in Charge of the
Accounting Body: WANG Yingxia
Consolidated Cash Flow Statement
For the period from January to March 2022
Prepared by: Appotronics Corporation Limited
In RMB Audit type: Unaudited
Item The First Quarter in 2022 The First Quarter in 2021
I. Cash Flows from Operating
Activities:
Cash receipts from the sale of goods 759,788,663.43 747,962,281.72
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The First Quarter Report in 2022
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 1,653,792.53 975,787.81
Other cash receipts relating to
19,019,366.32 35,073,661.67
operating activities
Sub-total of cash inflows from
780,461,822.29 784,011,731.20
operating activities
Cash payments for goods purchased
601,723,858.74 498,775,867.34
and services 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
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The First Quarter Report in 2022
Cash payments to and on behalf of
131,556,204.70 96,357,835.55
employees
Payments of various types of taxes 21,170,130.47 22,526,122.46
Other cash payments relating to
94,235,050.84 60,128,643.98
operating activities
Sub-total of cash outflows from
848,685,244.75 677,788,469.33
operating activities
Net cash flow from operating
-68,223,422.47 106,223,261.88
activities
II. Cash Flows from Investing
Activities:
Cash receipts from disposals and
431,000,000.00 114,000,000.00
recovery of investments
Cash receipts from investment income 2,993,304.56 935,882.46
Net cash receipts from disposals of
fixed assets, intangible assets and other 50.00
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
433,993,354.56 114,935,882.46
investing activities
Cash payments to acquire or construct
fixed assets, intangible assets and other 24,223,261.42 14,262,405.92
long-term assets
Cash payments to acquire investments 419,000,000.00 148,048,387.32
Net increase in pledged loans
receivables
Net cash payments for acquisitions of
subsidiaries and other business units
Other cash payments relating to
investing activities
Sub-total of cash outflows from
443,223,261.42 162,310,793.24
investing activities
Net cash flows from investment
-9,229,906.86 -47,374,910.78
activities
III. Cash Flows from Financing
Activities:
Cash receipts from capital 22,500,000.00
contributions
Including: Cash receipts from capital 22,500,000.00
contributions from minority
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The First Quarter Report in 2022
shareholders of subsidiaries
Cash receipts from borrowings 62,977,252.77 61,489,331.60
Other cash receipts relating to
financing activities
Sub-total of cash inflows from
62,977,252.77 83,989,331.60
financing activities
Cash repayments of borrowings 39,250,545.00 87,595,777.45
Cash payments for distribution of
dividends or profits or settlement of 5,435,603.29 4,677,974.98
interest expenses
Including: Payments for distribution
of dividends or profits to minority
shareholders of subsidiaries
Other cash payments relating to
6,680,619.57 23,777,056.92
financing activities
Sub-total of cash outflows from
51,366,767.86 116,050,809.35
financing activities
Net cash flows from financing
11,610,484.91 -32,061,477.75
activities
IV. Effect of Foreign Exchange Rate
Changes on Cash and Cash -285,263.26 670,024.42
Equivalents
V. Net Increase in Cash and Cash
-66,128,107.68 27,456,897.77
Equivalents
Add: Opening balance of cash and
891,195,169.00 983,525,089.44
cash equivalents
VI. Closing Balance of Cash and Cash
825,067,061.32 1,010,981,987.21
Equivalents
Legal Representative: LI Yi Chief Accountant: WANG Yingxia Person in Charge of the
Accounting Body: WANG Yingxia
(III) Description of adjustments in opening balances of line items in financial statements of the year
due to implementation of new accounting standard since 2022
□ Applicable √ N/A
Be it hereby announced
Board of Directors of Appotronics Corporation Limited
April 27, 2022
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