2024 First Quarter Report of Rainbow To be a Global Leading Crop Protection Company
SHANDONG WEIFANG RAINBOW CHEMICAL CO., LTD
Operating Summary for the First Quarter of 2024
The Company and all members of the Board of Directors warrant that the contents of the Semi-annual Report are true,
accurate and complete, without false records, misleading statements or major omissions.
Important Notes:
1. The Board of Directors, Board of Supervisors, directors, supervisors and senior management warrant that the contents of the
Quarterly Report are true, accurate and complete, without false records, misleading statements or major omissions, and shall
bear individual and collective legal liabilities.
2. The legal representative of the Company, the chief accountant in charge, and the chief of the accounting institution
(accounting supervisor), stated that the financial report in the Quarterly Report is true, accurate and complete.
3. Whether the First Quarter Report is audited
□ Yes No
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2024 First Quarter Report of Rainbow To be a Global Leading Crop Protection Company
I. Key Financial Data
(I) Key Accounting Data and Financial Indicators
Whether the Company needs to retroactively adjust or restate the accounting data of previous years
□ Yes No
Year-on-year increase or
Q1 2024 Q1 2023
decrease (%)
Operating income (RMB) 2,693,191,598.95 2,233,266,009.68 20.59%
Net profit attributable to
shareholders of the Company 152,843,351.25 182,814,094.72 -16.39%
(RMB)
Net profit attributable to
shareholders of the Company
151,462,097.05 182,952,103.05 -17.21%
excluding non-recurring gains
and losses (RMB)
Net cash flow from operating
-297,983,503.10 -438,843,869.41 32.10%
activities (RMB)
Basic earnings per share
0.55 0.66 -16.67%
(RMB/Share)
Diluted earnings per share
0.54 0.65 -16.92%
(RMB/Share)
Weighted average return on
2.29% 2.91% -0.62%
net assets
Increase/Decrease at the
end of the current reporting
End of Q1 2024 End of 2023
period compared with the
end of the previous year (%)
Total assets (RMB) 15,058,876,550.60 14,897,954,098.13 1.08%
Equity attributable to
shareholders of the Company 6,795,513,988.12 6,546,153,851.24 3.81%
(RMB)
(II) Items and Amounts of Non-recurring Gains and Losses
Applicable □ Not applicable
Unit: RMB
Item Amount of Q1 2024 Notes
Gains and losses on disposal of non-
current assets (including write-offs of 116,607.39
asset impairment provisions)
Government subsidies included in the
current gains and losses (excluding the
government subsidies closely related to
regular businesses of the Company, in
1,834,359.29
line with national policies, received by a
standard quota or quantity, and
consecutively affecting the Company's
gains and losses)
Gains and losses arising from changes in
31,929.16
the fair value of financial assets and
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2024 First Quarter Report of Rainbow To be a Global Leading Crop Protection Company
liabilities held by non-financial
companies, and gains and losses from
the disposal of financial assets and
liabilities, other than the effective
hedging business related to the normal
operation of the Company
Other non-operating revenue and
expenditure other than those -325,600.88
mentioned above
Less: affected amount of income tax 248,594.24
Affected amount of minority
27,446.52
shareholders' equity (after tax)
Total 1,381,254.20 --
Other gains and losses items that meet the definition of non-recurring gains and losses
□ Applicable Not applicable
There are no other gains and losses items of the Company that meet the definition of non-recurring gains and loss.
Reasons for the non-recurring profit and loss items listed in Explanatory Announcement on Information Disclosure for Companies
Offering Their Securities to the Public No.1 - Non-recurring Gains and Losses recognized as recurring gains and losses items
□ Applicable Not applicable
There is no circumstance where the non-recurring profit and loss items listed in Explanatory Announcement on Information
Disclosure for Companies Offering Their Securities to the Public No.1 - Non-recurring Gains and Losses are recognized as recurring
gains and losses items.
(III) Changes to Key Accounting Data and Financial Indicators and Reasons
Applicable □ Not applicable
1. Balance sheet items
Percentage of
Item March 31, 2024 December 31, 2023 change Reason for change
(%)
Mainly due to the
decrease in endorsed
Notes receivable 26,894,863.25 55,955,879.66 -51.94% promissory notes
outstanding during the
reporting period
Mainly due to the
increase in pre-
Pre-payments 247,513,918.87 129,020,462.65 91.84% payments for materials
during the reporting
period
Mainly due to the
increase in capitalized
expenditures such as
Development expenditure 86,991,768.53 36,791,601.49 136.44% test fees related to
partial registration
during the reporting
period
Mainly due to the
increase in bank
Short-term loan 3,007,176,826.17 2,261,455,023.95 32.98%
borrowings during the
reporting period
Mainly due to the value
Derivative financial liabilities 0.00 4,141,579.45 -100.00% fluctuation of forward
exchange settlement
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2024 First Quarter Report of Rainbow To be a Global Leading Crop Protection Company
business during the
reporting period
Mainly due to the
increase in rent of
Advance receipts 490,412.00 232,358.87 111.06%
Runke's building during
the reporting period
Mainly caused by
increase in customer
Contract liability 46,778,786.28 29,592,998.73 58.07% payments accepted in
advance during the
reporting period
Mainly due to the
increase in tax payable
Taxes payable 125,548,394.22 77,730,510.55 61.52%
during the reporting
period
Mainly due to the
decrease in long-term
Non-current liabilities due within one year 4,560,445.18 9,623,075.76 -52.61% loans due within one
year during the
reporting period
Mainly due to the
decrease in endorsed
Other current liabilities 23,007,785.61 57,442,707.33 -59.95% promissory notes
outstanding during the
reporting period
Mainly due to the
increase in borrowings
Long-term loan 111,160,672.69 77,624,331.91 43.20% of the subsidiary Ningxia
Gerui during the
reporting period
2. Income statement items
Percentage of
Item January-March 2024 January-March 2023 change Reason for change
(%)
Mainly due to the increase in
overseas market expansion
expenses, employee
Sales expenses 136,012,126.19 75,879,447.34 79.25%
remunerations and registration
expenses during the reporting
period
Mainly due to the decrease in
R&D costs and expenses
R&D expenditures 36,086,891.09 56,162,380.67 -35.75% caused by the decrease in R&D
material prices during the
reporting period
Mainly due to investment
income from disposal of
Investment returns 5,221,370.46 -35,302,194.73 114.79%
derivative financial assets
during the reporting period
Mainly due to the changes in
fair value of derivative financial
Income from changes in fair value 8,508,624.49 96,528,024.70 -91.19%
assets during the reporting
period
Mainly due to credit
impairment losses of accounts
Credit impairment losses -15,533,971.25 27,806,314.28 -155.86%
receivable during the reporting
period
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2024 First Quarter Report of Rainbow To be a Global Leading Crop Protection Company
Mainly due to reserve for
Asset impairment losses -534,514.34 -1,406,215.58 61.99% inventory depreciation during
the reporting period
Mainly due to the increase in
deferred income tax arising
from the offsetting of
Income tax expenses 24,726,415.53 9,733,671.77 154.03%
unrealized internal trading
gains and losses during the
reporting period
3. Cash flow statement items
Percentage of
Item January-March 2024 January-March 2023 change Reason for change
(%)
Mainly due to the year-on-
Net cash flow from operating activities -297,983,503.10 -438,843,869.41 32.10% year decrease in collected
payments
Mainly due to the increase
Net cash flow from financing activities 283,264,392.84 649,322,860.48 -56.38% in cash paid for repayment
of bank borrowings
II. Shareholder Information
(I) The number of common shareholders, the number of preferred shareholders whose voting rights have
been restored and the shareholdings of the top ten shareholders
Unit: Share
Number of preferred shareholders whose voting
Number of common shareholders
6,225 rights have been restored as of the end of Q1 2024 0
as of the end of Q1 2024
(if any)
Shareholdings of the top 10 shareholders (excluding shares lent through stock pledge repos)
Quantity of Pledge, mark or freeze
Name of Shareholder Shareholding Shareholding
restricted
shareholder nature ratio (%) quantity Share status Quantity
shares held
Shandong
Domestic non-
Rainbow
state-owned 41.24% 114,911,237.00 114,911,237.00 Pledge 22,880,000.00
Investment Co.,
legal person
Ltd
Overseas legal
KONKIA INC 21.96% 61,191,800.00 61,191,800.00 Not applicable 0.00
person
Shandong
Rainbow Domestic non-
Agriculture state-owned 4.70% 13,105,690.00 13,105,690.00 Not applicable 0.00
Investment Co., legal person
Ltd.
Jinan Xinbo Domestic non-
Investment Co., state-owned 2.81% 7,840,686.00 0.00 Pledge 6,827,700.00
Ltd. legal person
Domestic
Pei Xubo 2.80% 7,799,613.00 0.00 Not applicable 0.00
natural person
Orient
Securities Other 2.79% 7,780,085.00 0.00 Not applicable 0.00
Company
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2024 First Quarter Report of Rainbow To be a Global Leading Crop Protection Company
Limited -
Zhonggeng
Value Pioneer
Equity
Securities
Investment
Fund
Industrial and
Commercial
Bank of China
Co., Ltd. -
BOCOM
Other 2.67% 7,428,254.00 0.00 Not applicable 0.00
Schroder Trend
Priority Hybrid
Securities
Investment
Fund
China
Merchants
Bank Co., Ltd. -
BOCOM
Schroder Other 1.08% 3,004,957.00 0.00 Not applicable 0.00
Qicheng Hybrid
Securities
Investment
Fund
Industrial and
Commercial
Bank of China
Co., Ltd. - E
Fund ChiNext
Other 0.66% 1,832,083.00 0.00 Not applicable 0.00
Trading Open-
End Index
Securities
Investment
Fund
Guotai Asset
Management
Co., Ltd. - Social Other 0.54% 1,500,241.00 0.00 Not applicable 0.00
Security Fund
421
Shareholding of top ten shareholders of unrestricted shares
Type of shares
Name of shareholder Quantity of unrestricted shares held
Type of shares Quantity
RMB-
denominated
Jinan Xinbo Investment Co., Ltd. 7,840,686.00 7,840,686.00
common
shares
RMB-
denominated
Pei Xubo 7,799,613.00 7,799,613.00
common
shares
RMB-
Orient Securities Company Limited
denominated
- Zhonggeng Value Pioneer Equity 7,780,085.00 7,780,085.00
common
Securities Investment Fund
shares
Industrial and Commercial Bank of 7,428,254.00 RMB- 7,428,254.00
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2024 First Quarter Report of Rainbow To be a Global Leading Crop Protection Company
China Co., Ltd. - BOCOM Schroder denominated
Trend Priority Hybrid Securities common
Investment Fund shares
RMB-
China Merchants Bank Co., Ltd. -
denominated
BOCOM Schroder Qicheng Hybrid 3,004,957.00 3,004,957.00
common
Securities Investment Fund
shares
Industrial and Commercial Bank of RMB-
China Co., Ltd. - E Fund ChiNext denominated
1,832,083.00 1,832,083.00
Trading Open-End Index Securities common
Investment Fund shares
RMB-
Guotai Asset Management Co., denominated
1,500,241.00 1,500,241.00
Ltd. - Social Security Fund 421 common
shares
RMB-
Hong Kong Securities Clearing denominated
1,498,300.00 1,498,300.00
Company Ltd. (HKSCC) common
shares
RMB-
China Construction Bank
denominated
Corporation - Guotai Great Health 1,389,088.00 1,389,088.00
common
Equity Securities Investment Fund
shares
Yuanxin (Zhuhai) Private Equity
RMB-
Fund Management Co., Ltd. -
denominated
Yuanxin China Value Growth No. 9 1,350,024.00 1,350,024.00
common
Private Securities Investment
shares
Fund
1. Shandong Runyuan Investment Co., Ltd., KONKIA INC, Shandong
Rainbow Agrosciences Investment Co., Ltd. are enterprises controlled
Explanation of the above-mentioned shareholder by Wicky Wang, Sun Guoqing and Qiu Hongbing, the actual controllers
relationship or concerted action of the Company.
2. The Company is not aware whether the above-mentioned other
shareholders are associated or are persons acting in concert.
1. Pei Xubo holds 6,799,613 shares through the customer credit
transaction guarantee securities account of CITIC Securities (Shandong)
Co., Ltd., and 1,000,000 shares through common securities. A total of
7,799,613 shares are held by Pei Xubo.
Engagement of the top 10 shareholders in securities
2. Yuanxin (Zhuhai) Private Equity Fund Management Co., Ltd. - Yuanxin
margin trading business (if any)
China Value Growth No. 9 Private Securities Investment Fund holds
1,350,024 shares through the customer credit transaction guarantee
securities account of CITIC Securities Co., Ltd., and 0 shares through
common securities, totaling 1,350,024 shares.
Participation of the shareholders holding more than 5% of shares, top 10 shareholders and top 10 shareholders with unlimited
shares outstanding in lending out shares under stock pledge repo transactions
Applicable □ Not applicable
Unit: Share
Participation of the shareholders holding more than 5% of shares, top 10 shareholders and top 10 shareholders with
unlimited shares outstanding in lending out shares under stock pledge repo transactions
Shares lent through stock
Common account and Shares lent through stock
pledge repo transactions Common account and
Name of credit account holdings pledge repo transactions
at the beginning of the credit account holdings
shareholde at the beginning of the at the end of the period
period and not yet at the end of the period
r (in full) period and not yet returned
returned
Total Proportion Total Proportion Total Proportion Total Proportion
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2024 First Quarter Report of Rainbow To be a Global Leading Crop Protection Company
quantity to total quantity to total quantity to total quantity to total
shares shares shares shares
Industrial
and
Commercia
l Bank of
China Co.,
Ltd. - E
Fund
1,268,569 0.46% 110,900 0.04% 1,832,083 0.66% 103,400 0.03%
ChiNext
Trading
Open-End
Index
Securities
Investment
Fund
Changes from the previous period due to lending/returning via stock pledge repo transactions by top 10 shareholders and top 10
shareholders with unlimited shares outstanding
□ Applicable Not applicable
III. Quarterly Financial Statements
(I) Financial Statements
1. Consolidated balance sheet
Prepared by: Shandong Weifang Rainbow Chemical Co., Ltd.
March 31, 2024
Unit: RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 2,610,782,485.67 3,271,577,916.51
Deposit reservation for balance
Lending to banks and other financial
institutions
Financial assets held for trading 6,000,000.00 6,000,000.00
Derivative financial assets 4,504,554.15
Notes receivable 26,894,863.25 55,955,879.66
Accounts receivable 5,137,700,424.79 4,707,041,417.82
Receivables financing 500,000.00
Pre-payments 247,513,918.87 129,020,462.65
Premium receivable
Re-insurance accounts receivable
Reserves for re-insurance contract
receivable
Other receivables 53,768,593.58 44,646,181.87
Including.: interest receivable
Dividends receivable
Financial assets purchased under
resale agreement
Inventory 3,480,329,471.17 3,336,332,619.58
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2024 First Quarter Report of Rainbow To be a Global Leading Crop Protection Company
Including: data resources
Contracted assets
Assets held for sale
Non-current assets that mature within
one year
Other current assets 323,583,331.44 329,901,506.56
Total current assets 11,891,077,642.92 11,880,975,984.65
Non-current assets:
Disbursed loans and advances
Debt investments
Other debt investment
Long-term receivables
Long-term equity investment 1,306,518.96 1,445,021.57
Other equity instrument investment
Other non-current financial assets
Investment real estate 8,356,156.61 8,512,192.20
Fixed assets 2,189,183,083.45 2,008,437,417.28
Construction in progress 296,063,689.71 395,645,781.60
Productive biological assets
Oil and gas assets
Assets with rights of use 16,340,375.31 14,463,991.44
Intangible assets 232,333,780.83 214,122,877.97
Including: data resources
Development expenditure 86,991,768.53 36,791,601.49
Including: data resources
Goodwill 94,866,025.56 94,866,025.56
Long-term deferred expenses 31,909,393.75 34,125,613.10
Deferred income tax assets 118,308,739.01 117,262,810.63
Other non-current assets 92,139,375.96 91,304,780.64
Total non-current assets 3,167,798,907.68 3,016,978,113.48
Total assets 15,058,876,550.60 14,897,954,098.13
Current liabilities:
Short-term loan 3,007,176,826.17 2,261,455,023.95
Borrowings from the central bank
Borrowing from banks and financial
institutions
Financial liabilities held for trading
Derivative financial liabilities 4,141,579.45
Notes payable 3,164,565,144.94 4,057,148,069.12
Accounts payable 1,160,483,609.93 1,096,628,295.09
Advance receipts 490,412.00 232,358.87
Contract liability 46,778,786.28 29,592,998.73
Financial assets sold for repurchase
Deposits and interbank deposits
received
Amount received from agency trading
of securities
Amount received from agency
underwriting of securities
Payroll payable 156,692,121.15 218,457,162.23
Taxes payable 125,548,394.22 77,730,510.55
Other payables 80,407,289.60 81,107,290.26
Including: Interests payable
Dividends payable
Charges and commissions payable
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2024 First Quarter Report of Rainbow To be a Global Leading Crop Protection Company
Re-insurance accounts payable
Liabilities held for sale
Non-current liabilities due within one
4,560,445.18 9,623,075.76
year
Other current liabilities 23,007,785.61 57,442,707.33
Total current liabilities 7,769,710,815.08 7,893,559,071.34
Non-current liabilities:
Provision for insurance contracts
Long-term loan 111,160,672.69 77,624,331.91
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liability 8,903,219.19 8,219,602.23
Long-term payables
Long-term payroll payable
Accrued liabilities
Deferred income 11,476,461.96 11,713,887.21
Deferred income tax liabilities 51,863,304.55 67,145,243.72
Other non-current liabilities
Total non-current liabilities 183,403,658.39 164,703,065.07
Total liabilities 7,953,114,473.47 8,058,262,136.41
Owner’s equity:
Share capital 278,662,094.00 278,662,094.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 2,388,187,702.28 2,382,932,252.27
Less: Treasury stock
Other comprehensive income 33,105,376.93 -53,797,771.67
Special reserve 42,954,447.55 38,596,260.53
Surplus reserve 158,674,657.07 158,674,657.07
General risk reserve
Undistributed profit 3,893,929,710.29 3,741,086,359.04
Total owners' equity attributed to
6,795,513,988.12 6,546,153,851.24
parent company
Minority shareholder’s interest 310,248,089.01 293,538,110.48
Total owner’s equity 7,105,762,077.13 6,839,691,961.72
Total liabilities and owners’ equity 15,058,876,550.60 14,897,954,098.13
Legal Representative: Wicky Wang Chief Accountant in Charge: Xing Bingpeng Chief of Accounting Institution: Zhang Baolin
2. Consolidated income statement
Unit: RMB
Item Amount incurred in Q1 2024 Amount incurred in Q4 2023
I. Gross Operating Income 2,693,191,598.95 2,233,266,009.68
Including: Operating income 2,693,191,598.95 2,233,266,009.68
Interest income
Premium earned
Handling charges and
commissions income
II. Total Operating Costs 2,502,450,985.18 2,118,502,804.32
Including: Costs of business 2,151,930,798.44 1,814,538,181.24
Interest expenses
Handling charges and
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2024 First Quarter Report of Rainbow To be a Global Leading Crop Protection Company
commission expenses
Surrender value
Net payments for insurance
claims
Net withdrawal of reserve for
insurance responsibility contracts
Expenditures of policy
dividend
Re-insurance expense
Taxes and surcharges 9,639,670.98 9,314,127.45
Sales expenses 136,012,126.19 75,879,447.34
Management expenses 95,232,946.97 102,590,984.82
R&D expenditures 36,086,891.09 56,162,380.67
Financial expenses 73,548,551.51 60,017,682.80
Including: Interest expenses 21,851,106.77 5,399,475.19
Interest income 11,765,988.38 15,704,126.01
Add: Other incomes 1,590,381.16 2,246,880.15
Income from investment (“－”
5,221,370.46 -35,302,194.73
for loss)
Including: Income from
investment in associated enterprises and -138,502.61 -31,308.03
joint ventures
Income recognized
at termination of financial assets
measured at amortized cost
Foreign exchange gain ("-" fro
loss)
Net exposure hedging income ("-
" for loss)
Income from changes in fair
8,508,624.49 96,528,024.70
value ("-" for loss)
Credit impairment losses ("-" for
-15,533,971.25 27,806,314.28
loss)
Asset impairment losses ("-" for
-534,514.34 -1,406,215.58
loss)
Gains from asset disposal ("-" for
347,243.81
loss)
III. Operating Profit ("-" for loss) 190,339,748.10 204,636,014.18
Add: Non-operating income 5,194,095.82 3,582,516.56
Less: Non-operating expenses 5,506,355.00 5,029,861.03
IV. Total Profit Before Tax (“-” for total
190,027,488.92 203,188,669.71
losses)
Less: Income tax expenses 24,726,415.53 9,733,671.77
V. Net Profit ("-" for net loss) 165,301,073.39 193,454,997.94
(I) Classification by business continuity
1. Net profit from continuing
165,301,073.39 193,454,997.94
operations (“-” for net loss)
2. Net profit from discontinued
operations (“-” for net loss)
(II) Classification by ownership
1. Net profit attributable to the 152,843,351.25 182,814,094.72
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2024 First Quarter Report of Rainbow To be a Global Leading Crop Protection Company
owners of the parent company
2. Profit or loss of minority
12,457,722.14 10,640,903.22
shareholders
VI. Net Amount after Tax of Other
91,155,404.99 -30,738,258.68
Comprehensive Income
Net amount of other comprehensive
income after tax attributed to the 86,903,148.60 -23,060,863.19
owners of parent company
(I) Other comprehensive income
that cannot be reclassified into profit or
loss
1. Changes due to re-
measurement on defined benefit plan
2. Other comprehensive income
that cannot be converted into profit and
loss under the equity method
3. Changes in fair value of other
equity instrument investments
4. Changes in the fair value of the
credit risk of the enterprise
5. Other
(ii) Other comprehensive income
that will be reclassified into profit and 86,903,148.60 -23,060,863.19
loss
1. Other comprehensive income
that can be converted to profit or loss
under the equity method
2. Changes in fair value for other
investment on bonds
3. Amount of financial assets
reclassified into other comprehensive
income
4. Provision for credit
impairment of other creditor's rights
investment
5. Cash flow hedge reserve
6. Difference of foreign currency
86,903,148.60 -23,060,863.19
financial statement translation
7. Other
Net amount of other comprehensive
income after tax attributed to minority 4,252,256.39 -7,677,395.49
shareholders
VII. Total Comprehensive Income 256,456,478.38 162,716,739.26
Total comprehensive income
239,746,499.85 159,753,231.53
attributed to parent company owners
Total comprehensive income
16,709,978.53 2,963,507.73
attributed to minority shareholders
VIII. Earnings per Share:
(i) Basic earnings per share 0.55 0.66
(ii) Diluted earnings per share 0.54 0.65
For business combination under the same control in the current period, the net profit of the merged party before the business
combination is RMB , and the net profit of the merged party in the previous period is RMB .
Legal Representative: Wicky Wang Chief Accountant in Charge: Xing Bingpeng Chief of Accounting Institution: Zhang Baolin
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2024 First Quarter Report of Rainbow To be a Global Leading Crop Protection Company
3. Consolidated cash flow statement
Unit: RMB
Item Amount incurred in Q1 2024 Amount incurred in Q4 2023
I. Cash Flows Generated from Operating
Activities:
Cash received from sales of goods and
2,443,204,075.57 2,869,711,130.95
services
Net increase in deposit from
customers and interbank
Net increase in borrowing from
central bank
Net increase in borrowings from other
financial institutions
Cash receipts from premiums under
direct insurance contracts
Net cash receipts from re-insurance
business
Net cash receipts from policyholders'
deposits and investments
Cash receipts from interest, handling
fees and commissions
Net increase in capital borrowed from
banks and other financial institutions
Net increase in repurchase business
capital
Net cash received from securities
trading brokerage
Cash receipts from tax refunds 204,868,799.71 178,247,213.87
Cash received relating to other
18,550,465.36 21,452,425.86
operating activities
Subtotal of cash inflow in business
2,666,623,340.64 3,069,410,770.68
activities
Cash payments for goods acquired
2,509,486,886.84 2,919,345,383.14
and services received
Net increase in customer loans and
advances
Net increase in deposits in central
bank and interbank
Cash payments for original insurance
contract claims
Net increase in lending funds from
banks and other financial institutions
Cash payments for interest, fee and
commission
Cash payments for insurance
policyholder dividends
Cash payments to employees and on
246,717,193.22 209,366,726.26
behalf of employees
Cash payments for taxes 70,929,152.34 66,508,397.97
Other cash payments relating to
137,473,611.34 313,034,132.72
operating activities
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2024 First Quarter Report of Rainbow To be a Global Leading Crop Protection Company
Subtotal of cash outflow in business
2,964,606,843.74 3,508,254,640.09
activities
Net cash flow from operating activities -297,983,503.10 -438,843,869.41
II. Cash Flows from Investing Activities:
Cash receipts from investment
withdrawal
Cash receipts from return on
investments
Net cash receipts from disposals of
fixed assets, intangible assets and other 8,431,646.84 983,079.15
long-term assets
Net cash receipts from disposal of
subsidiary or any other business unit
Other cash receipts relating to
investing activities
Subtotal of cash inflow in investment
8,431,646.84 983,079.15
activities
Cash payments to acquire or
construct fixed assets, intangible assets 209,319,241.56 187,607,144.42
and other long-term assets
Cash payments for investment
Net increase in pledged loans
Net cash payments to acquire
subsidiary and other business units
Other cash payments relating to
34,437,195.75
investment activities
Subtotal of cash outflow in investment
209,319,241.56 222,044,340.17
activities
Net cash flow in investment activities -200,887,594.72 -221,061,261.02
III. Cash Flows from Financing Activities:
Cash received from capital
contributions
Including: Cash received from
investment of minority shareholder from
subsidiary
Cash receipts from borrowings 1,406,622,528.15 312,883,880.00
Other cash receipts relating to
436,918,713.08
financing activities
Subtotal of cash inflow in financing
1,406,622,528.15 749,802,593.08
activities
Cash repayments of borrowings 1,097,060,211.08 96,010,893.21
Cash payments for distribution of
dividends, profits, or cash payments for 26,297,924.23 4,468,839.39
interest expenses
Including: Dividends and profits
paid to minority shareholders by
subsidiaries
Other cash paid related to financing
activities
Subtotal of cash outflow in financing
1,123,358,135.31 100,479,732.60
activities
Net cash flow from financing activities 283,264,392.84 649,322,860.48
IV. Effect of Exchange Rate Changes on
12,180,350.46 -11,563,948.54
Cash and Cash Equivalents
V. Net Increase in Cash and Cash
-203,426,354.52 -22,146,218.49
Equivalents
14
2024 First Quarter Report of Rainbow To be a Global Leading Crop Protection Company
Add: Beginning balance of cash and
1,185,554,395.09 2,076,062,785.79
cash equivalents
VI. Closing Balance of Cash and Cash
982,128,040.57 2,053,916,567.30
Equivalents
(II) Audit Report
Whether the First Quarter Report is audited
□ Yes No
The Company's First Quarter Report has not been audited.
Should there be any difference in the interpretation of the contents, the Chinese version of the First Quarter Report 2024 shall
prevail.
SHANDONG WEIFANG RAINBOW CHEMICAL CO., LTD.
Board of Directors
Date: 10/05/2024
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