Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
Hubei Sanonda Co., Ltd.
Report for the Third Quarter of 2015
October 2015
1
Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
Section I. Important Reminders
The Board of Directors, the Supervisory Committee, directors, supervisors and senior management staff of Hubei
Sanonda Co., Ltd. (hereinafter referred to as “the Company”) warrant that the information carried in this report is
factual, accurate and complete, without any false record, misleading statement or material omission. And they
shall be jointly and severally liable for that.
All directors have attended the board session for reviewing this report.
An Liru, company principal, Liu Anping, chief of the accounting work and Tu Zhiwen, concurrently chief of the
accounting organ (chief of accounting), hereby confirm that the financial statements enclosed in this report are
factual, accurate and complete.
This report is prepared in both Chinese and English. Should there be any discrepancy between the two versions,
the Chinese version shall prevail.
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Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
Section II. Financial Highlights & Change of Shareholders
I. Major accounting data and financial indexes
Does the Company adjust retrospectively or restate accounting data of previous years due to change of the accounting policy or
correction of any accounting error?
□ Yes √ No
30 Sept. 2015 31 Dec. 2014 Increase/decrease (%)
Total assets (RMB Yuan) 3,286,592,614.26 2,934,299,657.47 12.01%
Net assets attributable to
shareholders of the Company 2,102,300,609.37 2,007,631,150.60 4.72%
(RMB Yuan)
YoY increase/decrease YoY increase/decrease
Jul.-Sept. 2015 Jan.-Sept. 2015
(%) (%)
Operating revenues (RMB Yuan) 558,298,652.20 -35.58% 1,793,550,335.01 -30.13%
Net profit attributable to
shareholders of the Company 29,447,643.10 -79.03% 147,125,818.69 -65.69%
(RMB Yuan)
Net profit attributable to
shareholders of the Company after
28,446,817.75 -79.57% 143,938,597.56 -66.27%
extraordinary gains and losses
(RMB Yuan)
Net cash flows from operating
-- -- 53,999,977.14 -90.88%
activities (RMB Yuan)
Basic EPS (RMB Yuan/share) 0.0496 -79.02% 0.2477 -65.69%
Diluted EPS (RMB Yuan/share) 0.0496 -79.02% 0.2477 -65.69%
Weighted average ROE (%) 1.42% -5.98% 7.16% -17.39%
Items and amounts of extraordinary gains and losses
√Applicable □Inapplicable
Unit: RMB Yuan
Item Amount as of Jan.-Sept. 2015 Note
Gains/losses on the disposal of non-current assets (including the
72,313.53
offset part of asset impairment provisions)
Government grants recognized in the current period, except for
those acquired in the ordinary course of business or granted at
3,871,766.66
certain quotas or amounts according to the country’s unified
standards
Other non-operating income and expenses than the above 74,464.65
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Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
Less: Income tax effects 820,261.21
Minority interests effects (after tax) 11,062.50
Total 3,187,221.13 --
Explain the reasons if the Company classifies an item as an extraordinary gain/loss according to the definition in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Extraordinary Gains and
Losses, or classifies any extraordinary gain/loss item mentioned in the said explanatory announcement as a recurrent gain/loss item
□ Applicable √ Inapplicable
No such cases during the reporting period.
II. Total number of shareholders and shareholdings of the top ten shareholders at the
period-end
1. Total number of common shareholders and shareholdings of the top ten common shareholders at the
period-end
Unit: share
Total number of common
63,265 (of which the shareholders of A share were of 44,568)
shareholders at the period-end
Shareholdings of the top ten common shareholders
Number of Pledged or frozen shares
Name of Nature of Shareholding Number of the
restricted shares
shareholder shareholder percentage (%) shares held Status of shares Number of shares
held
Sanonda Group State-owned
20.15% 119,687,202 - - -
Co., Ltd. corporation
ADAMA Celsius Foreign legal
10.60% 62,950,659 - - -
B.V. person
Domestic natural
Chen Lichun 1.14% 6,790,954 - - -
person
STATE-OWNED
ASSETS
ADMINISTRATI
Nation 0.70% 4,169,266 - - -
ON BUREAU
OF QICHUN
COUNTY
Domestic natural
Jiang Jian 0.61% 3,595,123 - - -
person
CHINA
SECURITIES
FINANCE Other 0.47% 2,817,300 - - -
CORPORATION
LIMITED
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Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
Foreign
NORGES BANK 0.44% 2,634,504 - - -
corporation
ICBC - Lion
Small-and-mediu
m Sized
Enterprises Listed Other 0.42% 2,480,384 - - -
Companies Value
Selection Stock
Fund
Bank of China
Limited - Teda
Manulife Jili
Other 0.38% 2,252,947 - - -
Bond-type
Securities
Investment Fund
ICBC - JT Tianfu
Reform
New-power
Flexible Other 0.36% 2,160,078 - - -
Configuration
Hybrid Securities
Investment Fund
Shareholdings of the top ten non-restricted common shareholders
Number of non-restricted common shares held at the Type of shares
Name of shareholder
period-end Type Number
RMB ordinary
Sanonda Group Co., Ltd. 119,687,202 119,687,202
share
Domestically
ADAMA Celsius B.V. 62,950,659 listed foreign 62,950,659
share
RMB ordinary
Chen Lichun 6,790,954 6,790,954
share
STATE-OWNED ASSETS
RMB ordinary
ADMINISTRATION BUREAU OF 4,169,266 4,169,266
share
QICHUN COUNTY
RMB ordinary
Jiang Jian 3,595,123 3,595,123
share
CHINA SECURITIES FINANCE RMB ordinary
2,817,300 2,817,300
CORPORATION LIMITED share
NORGES BANK 2,634,504 Domestically 2,634,504
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Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
listed foreign
share
ICBC - Lion Small-and-medium
RMB ordinary
Sized Enterprises Listed Companies 2,480,384 2,480,384
share
Value Selection Stock Fund
Bank of China Limited - Teda
RMB ordinary
Manulife Jili Bond-type Securities 2,252,947 2,252,947
share
Investment Fund
ICBC - JT Tianfu Reform
RMB ordinary
New-power Flexible Configuration 2,160,078 2,160,078
share
Hybrid Securities Investment Fund
Sanonda Group Corporation and Celsius Property B.V. are related parties, and under the same
control of China National Chemical Agrochemical Corporation, and are acting-in-concert
Explanation on associated
parties as prescribed in the Administrative Methods for Acquisition of Listed Companies. It is
relationship or/and persons
unknown whether the other shareholders are related parties or acting-in-concert parties as
prescribed in the Administrative Methods for Acquisition of Listed Companies.
1. The shareholder Chen Lichun held 6,309,732 shares of the Company through credit
collateral securities trading account and held 481,222 shares of the Company through
Top 10 common shareholders taking
common stock account that held 6,790,954 shares of the Company in total. 2. The shareholder
part in securities margin trading (if
Jiang Jian held 3,415,123 hares of the Company through credit collateral securities trading
any)
account and held 180,000 shares of the Company through common stock account that held
3,595,123 shares of the Company in total.
Did any of the top 10 common shareholders or the top 10 non-restricted common shareholders of the Company conduct any
promissory repo during the reporting period?
□ Yea √ No
No such cases in the reporting period.
2. Total number of preferred shareholders at the period-end and shareholdings of top 10 preferred
shareholders
□ Applicable √ Inapplicable
Section III. Significant Events
I. Major changes in main accounting statement items and financial indicators in the reporting
period, as well as reasons for the changes
√ Applicable □ Inapplicable
Unit: RMB Ten thousand
Financial statement item 30 31 Dec. Increase/ Increase/ Main reasons for the change
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Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
Sept. 2014 decrease decrease
2015 (%)
Notes receivable 1,482 287 1,195 416.38% Banker’s acceptance bills received increased.
The settlement periods for accounts receivable were
Accounts receivable longer, resulting in a decrease in the inflow of sales
40,486 19,564 20,922 106.94% income.
Prepayments 3,401 1,944 1,457 74.95% The prepayments for bulk raw materials increased.
Other receivables 944 1,968 -1,024 -52.03% Export tax rebates receivable decreased.
169,99 124,88 The ionic membrane project was transferred into fixed
Fixed assets
7 3 45,114 36.13% assets.
The ionic membrane project was transferred into fixed
Construction in progress
12,374 42,386 -30,012 -70.81% assets.
Other non-current assets 2,278 1,338 940 70.25% The prepayments for land
Short-term borrowings 26,226 7,500 18,726 249.68% New borrowings for working capital
-100.00
Notes payable
0 1,500 -1,500 % Due banker’s acceptance bills were honored.
Non-current liabilities 38200.0
due within 1 year 19,150 50 19,100 0% Some long-term borrowings became due within 1 year.
Specialized reserves 2,236 1,543 693 44.91% Safety reserves increased.
Jan.-Se Jan.-Se Increase/
Increase/
Financial statement item pt. pt. decrease Main reasons for the change
decrease
2015 2014 (%)
179,35 256,69
Operating revenues
5 5 -77,340 -30.13% The sales volume and prices both dropped.
The urban construction tax and surtax increased as the tax
Business tax and surtaxes
1049 713 336 47.12% credit in export increased.
Financial expenses 1,175 2,389 -1,214 -50.82% The exchange gains increased.
Asset impairment losses 3,526 949 2,577 271.55% The inventory falling price provisions increased.
Non-business incomes 403 304 99 32.57% The deferred gains increased.
Non-business expenses 2 30 -28 -93.33% Amercement outlay decreased.
Income tax expenses 4,986 15,604 -10,618 -68.05% Total profits decreased.
Net profits attributable to
owners of the Company 14,713 42,883 -28,170 -65.69% The sales income and the gross profit rate decreased.
Net cash flows from
operating activities 5,400 59,209 -53,809 -90.88% The inflow of sales income decreased.
Net cash flows from
investing activities -22,109 -31,947 9,838 30.79% Project inputs decreased.
Net cash flows from
financing activities 26,049 -13,772 39,821 289.14% Bank loan repayments decreased.
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Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
III. Commitments made by the Company or shareholders holding over 5% of the Company’s
shares in the reporting period or such commitments carried down into the reporting period
√ Applicable □ Inapplicable
Time of Term of
Type of Commitment
Commitment contents commitme commit Execution
commitment maker
nt ment
Commitments
made in a share - - - - -
reform
I. Commitments on avoiding horizontal competition: 1. except
for the Company proposed conducting transaction may lead to
competition in domestic trade with Shenzhen NOPOSION
Agrochemical Co., Ltd. disclosed in the B Shares Offer
Acquisition Report of Hubei Sanonda CO., Ltd. The Company
will take effective measures to avoid the Company and its
controlling subsidiaries engaged in the same or similar business
with Hubei Sanonda CO., Ltd. within the territory.2. If the
Company or its controlling subsidiaries domestically conduct The
related business which form horizontal competition with Hubei commitme
Sanonda CO., Ltd. in future (including related business of the nts were
Company proposed conducting transaction may lead to being
ADAMA
competition in domestic trade with Shenzhen NOPOSION carried out
Celsius
Commitments Agrochemical Co., Ltd. disclosed in the B Shares Offer 2013-09-0 2020-09 and the
B.V.;ADAMA
made in an Acquisition Report of Hubei Sanonda CO., Ltd.) The Company 7 -06 commitme
Agricultural
acquisition will according to the securities laws and regulations and nt makers
Solutions Ltd.
report or a industry policy within 7 years or when the management think abided by
report on equity the condition is ripe to actively take steps, gradually eliminate the above
changes the competition, the concrete measures including but not commitme
limited to the following one or more: fight for internal assets nts.
reconstruction, (including putting the business into Hubei
Sanonda CO., Ltd. or operated through Hubei Sanonda CO.,
Ltd. ) to adjust the industrial plan and business structure, to
transform technology and to upgrade products, to divide the
market so as to make each corporation differ in the products
and its ultimate users, thus to avoid and eliminate the current
domestic horizontal competition between the Company’s
controlling subsidiaries and Sanonda.
ADAMA II. Commitments on maintaining the Company’s operation The
Celsius independence and specify the related transaction: 1. After the commitme
2013-09-0 9999-12
B.V.;ADAMA complement of the tender offer, Sanonda will continue to nts were
7 -31
Agricultural maintain complete purchase, production and sales system, and being
Solutions Ltd. to gain the independent intellectual property. The Company and carried out
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Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
its direct or indirect controlling shareholders and Sanonda of and the
which the personnel, assets, finance, business and institutions commitme
will be completely separated, and at the same time maintain the nt makers
operation ability of Sanonda that independently face to the abided by
China agrochemical industry market. 2. The Company will the above
avoid and reduce the related transactions with Sanonda commitme
according to the requirements stipulated by the laws, nts.
regulations and other normative documents; but for those
related transactions that are inevitable or occur with reasonable
cause, will have to obey the just, fair and open market
principles. And to sign the agreement according to the law and
to carry out legal program, and to make sure not to harm the
legal interest of Sanonda and other shareholders by related
transaction according to the Articles of Association of Sanonda,
the relevant system about related transaction and to conduct the
duty of information disclosure as well as the approval process
which stipulated by the relevant regulations."
I. Commitments on avoiding horizontal competition: 1. The
business of the Company’s subsidiaries-- Jiangsu Anpon
Electrochemical Co., Ltd., Anhui Petroleum Chemical Group
Co., Ltd., Shangdong Dacheng Agrochemical Co., Ltd. and
Jiamusi Heilong Agrochemicals Co., Ltd., and Hunan Haohua
Chemical Co., Ltd. and its subsidiary had the same or similar
situations with the main business of Sanonda, and aimed at the
domestic horizontal competition, the Company committed to
The
gradually eliminate such kind of horizontal competition in the
commitme
future and to fight for the internal assets reconstruction, to
nts were
adjust the industrial plan and business structure, to transform
being
technology and to upgrade products, to divide the market so as
carried out
China National to make each corporation differ in the products and its ultimate
2013-09-0 2020-09 and the
Chemical users according to the securities laws and regulations and
7 -06 commitme
Corporation industry policy within 7 years, thus to eliminate the current
nt maker
domestic horizontal competition between the Company’s
abided by
controlling subsidiaries and Sanonda. 2. Excepting the
the above
competition situation disclosed in the offer acquisition report,
commitme
the Company take effective measures to avoid the Company
nts.
and its controlling subsidiaries ( excepting Commitments
respectively made in acquisition report by Celsius Property
B.V. and MAI )’ new increased business engaged in the same or
similar business with Hubei Sanonda CO., Ltd. within the
territory in future. 3. If the Company or its controlling
subsidiaries (excepting Commitments respectively made in
acquisition report by Celsius Property B.V. and MAI)
domestically conduct related business which form horizontal
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Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
competition with Hubei Sanonda CO., Ltd. in future, the
Company will actively take steps, gradually eliminate the
competition, the concrete measures including but not limited to
fight for internal assets reconstruction, (including putting the
business into Hubei Sanonda CO., Ltd. or operated through
Hubei Sanonda CO., Ltd.) to adjust the industrial plan and
business structure, to transform technology and to upgrade
products, to divide the market so as to make each corporation
differ in the products and its ultimate users, thus to avoid and
eliminate the current domestic horizontal competition between
the Company’s controlling subsidiaries and Sanonda.
II. Commitments on maintaining the Company’s operation
independence and specify the related transaction: 1. After the
complement of the tender offer, Sanonda will continue to
maintain complete purchase, production and sales system, and
to gain the independent intellectual property. The Company and
its direct or indirect controlling shareholders and Sanonda of The
which the personnel, assets, finance, business and institutions commitme
will be completely separated, and at the same time maintain the nts were
operation ability of Sanonda that independently face to the being
China agrochemical industry market. 2. The Company will carried out
China National
avoid and reduce the related transactions with Sanonda 2013-09-0 9999-12 and the
Chemical
according to the requirements stipulated by the laws, 7 -31 commitme
Corporation
regulations and other normative documents; but for those nt maker
related transactions that are inevitable or occur with reasonable abided by
cause, will have to obey the just, fair and open market the above
principles. And to sign the agreement according to the law and commitme
to carry out legal program, and to make sure not to harm the nts.
legal interest of Sanonda and other shareholders by related
transaction according to the Articles of Association of Sanonda,
the relevant system about related transaction and to conduct the
duty of information disclosure as well as the approval process
which stipulated by the relevant regulations.
Commitments
made in asset
- - - - -
reorganization
Commitments
made in the first
public offering - - - - -
or refinancing.
Other - - - - -
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Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
commitments
made to
minority
shareholders
Executed in time
Yes
or not?
IV. Predict the 2015 annual operating results
Warnings of possible loss or large-margin change of the accumulated net profit made during the period from the beginning of the
year to the end of the next reporting period compared with the same period of the last year according to prediction, as well as
explanations on the reasons
□Applicable √Inapplicable
V. Securities investment
□Applicable √Inapplicable
The Company was not involved in any securities investment of the reporting period.
VI. Shareholdings in other listed companies
□Applicable √ Inapplicable
The Company was not involved in any shareholding in other listed companies.
VII. Investments in derivatives
□Applicable √Inapplicable
The Company did not invest in any derivative in the reporting period.
VIII. Researches, visits and interviews received in the reporting period
□Applicable √Inapplicable
There were no researches, visits and interviews received in the reporting period.
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Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
Section IV. Financial Statements
I. Financial statements
1. Consolidated balance sheet
Prepared by Hubei Sanonda Co., Ltd.
30 Sep. 2015
Unit: RMB Yuan
Item Closing balance Opening balance
Current assets:
Monetary funds 513,062,814.21 423,347,736.46
Settlement reserves
Intra-group lendings
Financial assets measured at fair
value of which changes are recorded in
current profits and losses
Derivative financial assets
Notes receivable 14,818,034.18 2,874,466.50
Accounts receivable 404,858,649.03 195,635,912.75
Accounts paid in advance 34,006,663.28 19,444,766.16
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract
reserves
Interest receivable
Dividend receivable
Other accounts receivable 9,442,722.77 19,679,596.65
Financial assets purchased under
agreements to resell
Inventories 298,508,318.38 330,541,606.05
Assets held for sale
Non-current assets due within 1 year
Other current assets
Total current assets 1,274,697,201.85 991,524,084.57
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Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
Non-current assets:
Loans by mandate and advances
granted
Available-for-sale financial assets 9,153,782.63 9,153,782.63
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment
Investing real estate 5,115,300.48 5,363,928.28
Fixed assets 1,699,965,502.43 1,248,826,394.76
Construction in progress 123,741,608.10 423,857,021.70
Engineering materials 88,970,010.63
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 136,664,665.00 140,020,897.12
R&D expense
Goodwill
Long-term deferred expenses
Deferred income tax assets 14,470,153.77 13,199,137.78
Other non-current assets 22,784,400.00 13,384,400.00
Total of non-current assets 2,011,895,412.41 1,942,775,572.90
Total assets 3,286,592,614.26 2,934,299,657.47
Current liabilities:
Short-term borrowings 262,264,550.00 75,000,000.00
Borrowings from the Central Bank
Customer bank deposits and due to
banks and other financial institutions
Intra-group borrowings
Financial liabilities measured at fair
value of which changes are recorded in
current profits and losses
Derivative financial liabilities
Notes payable 15,000,000.00
Accounts payable 169,822,058.32 216,786,274.77
Accounts received in advance 39,080,006.22 34,830,464.65
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Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
Financial assets sold and repurchased
Handling charges and commissions
payable
Payroll payable 21,810,640.48 25,740,973.02
Tax payable 56,095,830.69 72,051,904.29
Interest payable
Dividend payable 250,000.00 250,000.00
Other accounts payable 27,009,503.97 31,749,791.93
Reinsurance premiums payable
Insurance contract reserves
Payables for acting trading of
securities
Payables for acting underwriting of
securities
Liabilities held for sale
Non-current liabilities due within 1
191,500,000.00 500,000.00
year
Other current liabilities
Total current liabilities 767,832,589.68 471,909,408.66
Non-current liabilities:
Long-term borrowings 396,090,000.00 431,590,000.00
Bonds payable
Of which: preference shares
Perpetual bonds
Long-term payables 650,000.00 650,000.00
Long-term payroll payables
Specific payables
Estimated liabilities
Deferred income 19,868,148.16 22,754,814.82
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 416,608,148.16 454,994,814.82
Total liabilities 1,184,440,737.84 926,904,223.48
Owners’ equity:
Share capital 593,923,220.00 593,923,220.00
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Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
Other equity instruments
Of which: preference shares
Perpetual bonds
Capital reserves 263,184,043.66 263,184,043.66
Less: Treasury stock
Other comprehensive income
Specific reserves 22,361,061.51 15,425,099.43
Surplus reserves 178,048,385.86 178,048,385.86
Provisions for general risks
Retained profits 1,044,783,898.34 957,050,401.65
Total equity attributable to owners of
2,102,300,609.37 2,007,631,150.60
the Company
Minority interests -148,732.95 -235,716.61
Total owners’ equity 2,102,151,876.42 2,007,395,433.99
Total liabilities and owners’ equity 3,286,592,614.26 2,934,299,657.47
Legal representative: An Liru Person-in-charge of the accounting work: Liu Anping
Chief of the accounting division: Tu Zhiwen
2. Balance sheet of the Company
Unit: RMB Yuan
Item Closing balance Opening balance
Current assets:
Monetary funds 488,297,764.44 349,250,284.42
Financial assets measured at fair
value of which changes are recorded in
current profits and losses
Derivative financial assets
Notes receivable 14,460,534.18 2,874,466.50
Accounts receivable 560,986,854.28 360,573,034.99
Accounts paid in advance 32,066,288.89 18,069,109.19
Interest receivable
Dividend receivable
Other accounts receivable 2,929,579.03 76,252,385.90
Inventories 282,898,218.28 319,798,378.74
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Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
Assets held for sale
Non-current assets due within 1 year
Other current assets
Total current assets 1,381,639,239.10 1,126,817,659.74
Non-current assets:
Available-for-sale financial assets 9,153,782.63 9,153,782.63
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 55,526,635.41 55,526,635.41
Investing real estate 5,115,300.48 5,363,928.28
Fixed assets 1,554,803,436.00 1,091,620,961.82
Construction in progress 122,283,525.22 423,857,021.70
Engineering materials 88,970,010.63
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 124,895,232.69 127,725,897.93
R&D expense
Goodwill
Long-term deferred expenses
Deferred income tax assets 10,307,153.05 10,510,039.23
Other non-current assets 22,784,400.00 13,384,400.00
Total of non-current assets 1,904,869,465.48 1,826,112,677.63
Total assets 3,286,508,704.58 2,952,930,337.37
Current liabilities:
Short-term borrowings 240,000,000.00 75,000,000.00
Financial liabilities measured at fair
value of which changes are recorded in
current profits and losses
Derivative financial liabilities
Notes payable 15,000,000.00
Accounts payable 165,008,878.18 210,008,050.11
Accounts received in advance 32,878,733.17 22,676,046.39
Payroll payable 21,810,640.48 22,596,483.36
Tax payable 67,464,814.00 85,567,106.10
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Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
Interest payable
Dividend payable 250,000.00 250,000.00
Other accounts payable 25,308,443.94 30,090,888.88
Liabilities held for sale
Non-current liabilities due within 1
191,500,000.00 500,000.00
year
Other current liabilities
Total current liabilities 744,221,509.77 461,688,574.84
Non-current liabilities:
Long-term borrowings 396,090,000.00 431,590,000.00
Bonds payable
Of which: preference shares
Perpetual bonds
Long-term payables 650,000.00 650,000.00
Long-term payroll payables
Specific payables
Estimated liabilities
Deferred income 12,738,981.48 14,888,148.15
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 409,478,981.48 447,128,148.15
Total liabilities 1,153,700,491.25 908,816,722.99
Owners’ equity:
Share capital 593,923,220.00 593,923,220.00
Other equity instruments
Of which: preference shares
Perpetual bonds
Capital reserves 263,799,837.18 263,799,837.18
Less: Treasury stock
Other comprehensive income
Specific reserves 17,391,949.20 10,455,987.12
Surplus reserves 178,048,385.86 178,048,385.86
Retained profits 1,079,644,821.09 997,886,184.22
Total owners’ equity 2,132,808,213.33 2,044,113,614.38
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Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
Total liabilities and owners’ equity 3,286,508,704.58 2,952,930,337.37
3. Consolidated income statement for the reporting period
Unit: RMB Yuan
Item Jul.-Sept. 2015 Jul.-Sept. 2014
I. Operating revenues 558,298,652.20 866,668,593.25
Including: Sales income 558,298,652.20 866,668,593.25
Interest income
Premium income
Handling charge and commission
income
II. Operating costs 524,537,189.92 678,614,652.87
Including: Cost of sales 465,631,863.12 614,846,344.50
Interest expenses
Handling charge and commission
expenses
Surrenders
Net claims paid
Net amount withdrawn for the
insurance contract reserve
Expenditure on policy dividends
Reinsurance premium
Taxes and associate charges 1,607,100.75 3,508,609.11
Selling and distribution expenses 25,379,717.18 28,856,077.05
Administrative expenses 26,415,580.95 26,461,149.36
Financial expenses -2,139,035.30 6,641,273.88
Asset impairment loss 7,641,963.22 -1,698,801.03
Add: Gain/(loss) from change in fair
value (“-” means loss)
Gain/(loss) from investment (“-”
1,667,155.76 1,716,466.00
means loss)
Including: share of profits in
associates and joint ventures
Foreign exchange gains (“-” means
loss)
III. Business profit (“-” means loss) 35,428,618.04 189,770,406.38
18
Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
Add: non-operating income 1,095,975.47 1,591,240.16
Including: Gains on disposal of
80,003.25
non-current assets
Less: non-operating expense 21,658.98
Including: Losses on disposal of
non-current assets
IV. Total profit (“-” means loss) 36,524,593.51 191,339,987.56
Less: Income tax expense 6,956,139.14 51,055,018.81
V. Net profit (“-” means loss) 29,568,454.37 140,284,968.75
Net profit attributable to owners of
29,447,643.10 140,421,657.01
the Company
Minority shareholders’ income 120,811.27 -136,688.26
VI. After-tax net amount of other
comprehensive incomes
After-tax net amount of other
comprehensive incomes attributable to
owners of the Company
(I) Other comprehensive incomes
that will not be reclassified into gains and
losses
1. Changes in net liabilities or
assets with a defined benefit plan upon
re-measurement
2. Enjoyable shares in other
comprehensive incomes in investees that
cannot be reclassified into gains and
losses under the equity method
(II) Other comprehensive incomes
that will be reclassified into gains and
losses
1. Enjoyable shares in other
comprehensive incomes in investees that
will be reclassified into gains and losses
under the equity method
2. Gains and losses on fair
value changes of available-for-sale
financial assets
3. Gains and losses on
reclassifying held-to-maturity
19
Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
investments into available-for-sale
financial assets
4. Effective hedging gains and
losses on cash flows
5. Foreign-currency financial
statement translation difference
6. Other
After-tax net amount of other
comprehensive incomes attributable to
minority shareholders
VII. Total comprehensive incomes 29,568,454.37 140,284,968.75
Attributable to owners of the
29,447,643.10 140,421,657.01
Company
Attributable to minority
120,811.27 -136,688.26
shareholders
VIII. Earnings per share
(I) Basic earnings per share 0.0496 0.2364
(II) Diluted earnings per share 0.0496 0.2364
Where business mergers under the same control occurred in the reporting period, the net profit achieved by the merged parties before
the business mergers was RMB 0.00, with the corresponding amount for the same period of last year being RMB 0.00.
Legal representative: An Liru Person-in-charge of the accounting work: Liu Anping
Chief of the accounting division: Tu Zhiwen
4. Income statement of the Company for the reporting period
Unit: RMB Yuan
Item Jul.-Sept. 2015 Jul.-Sept. 2014
I. Total sales 565,157,182.75 873,392,079.74
Less: cost of sales 485,204,846.67 620,782,114.02
Business taxes and surcharges 1,576,979.43 3,459,377.90
Distribution expenses 24,450,836.75 26,883,038.92
Administrative expenses 24,714,753.58 23,723,085.93
Financial costs -761,497.65 6,524,217.73
Impairment loss 6,440,022.68 2,048,131.71
Add: gain/(loss) from change in fair
value (“-” means loss)
20
Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
Gain/(loss) from investment (“-”
1,667,155.76 1,716,466.00
means loss)
Including: income from investment
on associates and joint ventures
II. Business profit (“-” means loss) 25,198,397.05 191,688,579.53
Add: non-operating income 850,142.14 1,590,398.98
Including: Gains on disposal of
80,003.25
non-current assets
Less: non-operating expense 21,658.98
Including: Losses on disposal of
non-current assets
III. Total profit (“-” means loss) 26,048,539.19 193,257,319.53
Less: Income tax expense 6,299,673.99 49,260,810.36
IV. Net profit (“-” means loss) 19,748,865.20 143,996,509.17
V. After-tax net amount of other
comprehensive incomes
(I) Other comprehensive incomes that
will not be reclassified into gains and
losses
1. Changes in net liabilities or
assets with a defined benefit plan upon
re-measurement
2. Enjoyable shares in other
comprehensive incomes in investees
that cannot be reclassified into gains
and losses under the equity method
(II) Other comprehensive incomes
that will be reclassified into gains and
losses
1. Enjoyable shares in other
comprehensive incomes in investees
that will be reclassified into gains and
losses under the equity method
2. Gains and losses on fair value
changes of available-for-sale financial
assets
3. Gains and losses on
reclassifying held-to-maturity
investments into available-for-sale
21
Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
financial assets
4. Effective hedging gains and
losses on cash flows
5. Foreign-currency financial
statement translation difference
6. Other
VI. Total comprehensive incomes 19,748,865.20 143,996,509.17
VII. Earnings per share
(I) Basic earnings per share
(II) Diluted earnings per share
5. Consolidated income statement for Jan.-Sept. 2015
Unit: RMB Yuan
Item Jan.-Sept. 2015 Jan.-Sept. 2014
I. Operating revenues 1,793,550,335.01 2,566,950,017.93
Including: Sales income 1,793,550,335.01 2,566,950,017.93
Interest income
Premium income
Handling charge and commission
income
II. Operating costs 1,602,167,732.71 1,986,861,585.14
Including: Cost of sales 1,407,399,492.83 1,791,336,118.38
Interest expenses
Handling charge and commission
expenses
Surrenders
Net claims paid
Net amount withdrawn for the
insurance contract reserve
Expenditure on policy dividends
Reinsurance premium
Taxes and associate charges 10,494,221.59 7,129,842.54
Selling and distribution expenses 61,921,592.69 72,052,618.87
Administrative expenses 75,339,489.24 82,955,634.78
Financial expenses 11,753,981.19 23,893,206.76
22
Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
Asset impairment loss 35,258,955.17 9,494,163.81
Add: Gain/(loss) from change in fair
value (“-” means loss)
Gain/(loss) from investment (“-”
1,667,155.76 1,716,466.00
means loss)
Including: share of profits in
associates and joint ventures
Foreign exchange gains (“-” means
loss)
III. Business profit (“-” means loss) 193,049,758.06 581,804,898.79
Add: non-operating income 4,033,354.91 3,039,644.14
Including: Gains on disposal of
80,003.25
non-current assets
Less: non-operating expense 14,810.07 300,547.56
Including: Losses on disposal of
7,689.72
non-current assets
IV. Total profit (“-” means loss) 197,068,302.90 584,543,995.37
Less: Income tax expense 49,855,500.55 156,044,486.40
V. Net profit (“-” means loss) 147,212,802.35 428,499,508.97
Net profit attributable to owners of
147,125,818.69 428,828,254.14
the Company
Minority shareholders’ income 86,983.66 -328,745.17
VI. After-tax net amount of other
comprehensive incomes
After-tax net amount of other
comprehensive incomes attributable to
owners of the Company
(I) Other comprehensive incomes
that will not be reclassified into gains and
losses
1. Changes in net liabilities or
assets with a defined benefit plan upon
re-measurement
2. Enjoyable shares in other
comprehensive incomes in investees that
cannot be reclassified into gains and
losses under the equity method
(II) Other comprehensive incomes
23
Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
that will be reclassified into gains and
losses
1. Enjoyable shares in other
comprehensive incomes in investees that
will be reclassified into gains and losses
under the equity method
2. Gains and losses on fair
value changes of available-for-sale
financial assets
3. Gains and losses on
reclassifying held-to-maturity
investments into available-for-sale
financial assets
4. Effective hedging gains and
losses on cash flows
5. Foreign-currency financial
statement translation difference
6. Other
After-tax net amount of other
comprehensive incomes attributable to
minority shareholders
VII. Total comprehensive incomes 147,212,802.35 428,499,508.97
Attributable to owners of the
147,125,818.69 428,828,254.14
Company
Attributable to minority
86,983.66 -328,745.17
shareholders
VIII. Earnings per share
(I) Basic earnings per share 0.2477 0.7220
(II) Diluted earnings per share 0.2477 0.7220
Where business mergers under the same control occurred in this period, the net profit achieved by the merged parties before the
business mergers was RMB 0.00, with the corresponding amount for the same period of last year being RMB 0.00.
6. Income statement of the Company for Jan.-Sept. 2015
Unit: RMB Yuan
Item Jan.-Sept. 2015 Jan.-Sept. 2014
I. Total sales 1,825,137,994.82 2,560,157,966.36
Less: cost of sales 1,456,596,958.04 1,792,580,063.10
Business taxes and surcharges 10,391,670.97 6,970,529.96
24
Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
Distribution expenses 59,488,583.83 67,879,729.85
Administrative expenses 70,348,679.31 66,871,693.03
Financial costs 13,711,309.13 23,666,913.20
Impairment loss 28,808,483.31 5,118,661.69
Add: gain/(loss) from change in fair
value (“-” means loss)
Gain/(loss) from investment (“-”
1,667,155.76 1,716,466.00
means loss)
Including: income from investment
on associates and joint ventures
II. Business profit (“-” means loss) 187,459,465.99 598,786,841.53
Add: non-operating income 3,295,854.92 3,037,538.48
Including: Gains on disposal of
80,003.25
non-current assets
Less: non-operating expense 14,810.07 264,267.56
Including: Losses on disposal of
7,689.72
non-current assets
III. Total profit (“-” means loss) 190,740,510.84 601,560,112.45
Less: Income tax expense 49,589,551.97 152,604,870.14
IV. Net profit (“-” means loss) 141,150,958.87 448,955,242.31
V. After-tax net amount of other
comprehensive incomes
(I) Other comprehensive incomes that
will not be reclassified into gains and
losses
1. Changes in net liabilities or
assets with a defined benefit plan upon
re-measurement
2. Enjoyable shares in other
comprehensive incomes in investees
that cannot be reclassified into gains
and losses under the equity method
(II) Other comprehensive incomes
that will be reclassified into gains and
losses
1. Enjoyable shares in other
comprehensive incomes in investees
that will be reclassified into gains and
25
Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
losses under the equity method
2. Gains and losses on fair value
changes of available-for-sale financial
assets
3. Gains and losses on
reclassifying held-to-maturity
investments into available-for-sale
financial assets
4. Effective hedging gains and
losses on cash flows
5. Foreign-currency financial
statement translation difference
6. Other
VI. Total comprehensive incomes 141,150,958.87 448,955,242.31
VII. Earnings per share
(I) Basic earnings per share
(II) Diluted earnings per share
7. Consolidated cash flow statement for Jan.-Sept. 2015
Unit: RMB Yuan
Item Jan.-Sept. 2015 Jan.-Sept. 2014
I. Cash flows from operating activities:
Cash received from sale of
1,338,674,461.07 2,226,317,764.36
commodities and rendering of service
Net increase of deposits from
customers and dues from banks
Net increase of loans from the central
bank
Net increase of funds borrowed from
other financial institutions
Cash received from premium of
original insurance contracts
Net cash received from reinsurance
business
Net increase of deposits of policy
holders and investment fund
Net increase of disposal of financial
assets measured at fair value of which
26
Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
changes are recorded into current gains
and losses
Cash received from interest, handling
charges and commissions
Net increase of intra-group
borrowings
Net increase of funds in repurchase
business
Tax refunds received 33,027,658.35 4,383,350.82
Other cash received relating to
13,336,093.05 18,048,571.71
operating activities
Subtotal of cash inflows from operating
1,385,038,212.47 2,248,749,686.89
activities
Cash paid for goods and services 998,571,519.01 1,267,702,207.71
Net increase of customer lendings
and advances
Net increase of funds deposited in the
central bank and amount due from
banks
Cash for paying claims of the original
insurance contracts
Cash for paying interest, handling
charges and commissions
Cash for paying policy dividends
Cash paid to and for employees 154,413,656.47 145,782,618.04
Various taxes paid 116,454,133.57 165,110,099.99
Other cash payment relating to
61,598,926.28 78,065,050.39
operating activities
Subtotal of cash outflows from
1,331,038,235.33 1,656,659,976.13
operating activities
Net cash flows from operating activities 53,999,977.14 592,089,710.76
II. Cash flows from investing activities:
Cash received from withdrawal of
investments
Cash received from return on
1,667,155.76 1,716,466.00
investments
Net cash received from disposal of
1,350.00
fixed assets, intangible assets and other
27
Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to
investing activities
Subtotal of cash inflows from investing
1,667,155.76 1,717,816.00
activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 222,759,439.09 321,184,393.66
assets
Cash paid for investment
Net increase of pledged loans
Net cash paid to acquire subsidiaries
and other business units
Other cash payments relating to
investing activities
Subtotal of cash outflows from
222,759,439.09 321,184,393.66
investing activities
Net cash flows from investing activities -221,092,283.33 -319,466,577.66
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Including: Cash received from
minority shareholder investments by
subsidiaries
Cash received from borrowings 411,605,350.00 454,659,359.80
Cash received from issuance of
bonds
Other cash received relating to
4,500,000.00
financing activities
Subtotal of cash inflows from financing
416,105,350.00 454,659,359.80
activities
Repayment of borrowings 68,840,800.00 503,279,565.35
Cash paid for interest expenses and
86,779,196.98 69,033,958.44
distribution of dividends or profit
Including: dividends or profit paid
by subsidiaries to minority shareholders
28
Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
Other cash payments relating to
20,070,000.00
financing activities
Sub-total of cash outflows from
155,619,996.98 592,383,523.79
financing activities
Net cash flows from financing activities 260,485,353.02 -137,724,163.99
IV. Effect of foreign exchange rate
822,030.92 558,444.13
changes on cash and cash equivalents
V. Net increase in cash and cash
94,215,077.75 135,457,413.24
equivalents
Add: Opening balance of cash and
418,847,736.46 410,065,921.21
cash equivalents
VI. Closing balance of cash and cash
513,062,814.21 545,523,334.45
equivalents
8. Cash flow statement of the Company for Jan.-Sept. 2015
Unit: RMB Yuan
Item Jan.-Sept. 2015 Jan.-Sept. 2014
I. Cash flows from operating activities:
Cash received from sale of
1,297,560,789.66 2,061,575,013.29
commodities and rendering of service
Tax refunds received 16,386,842.52 1,101,773.34
Other cash received relating to
13,199,365.29 18,225,286.03
operating activities
Subtotal of cash inflows from operating
1,327,146,997.47 2,080,902,072.66
activities
Cash paid for goods and services 893,146,308.65 1,230,292,169.21
Cash paid to and for employees 143,778,453.71 136,861,327.85
Various taxes paid 110,933,461.28 163,353,984.40
Other cash payment relating to
52,821,928.31 40,824,428.17
operating activities
Subtotal of cash outflows from
1,200,680,151.95 1,571,331,909.63
operating activities
Net cash flows from operating activities 126,466,845.52 509,570,163.03
II. Cash flows from investing activities:
Cash received from withdrawal of
investments
Cash received from return on 1,667,155.76 1,716,466.00
29
Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
investments
Net cash received from disposal of
fixed assets, intangible assets and other 1,350.00
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to
investing activities
Subtotal of cash inflows from investing
1,667,155.76 1,717,816.00
activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 222,759,439.09 317,158,489.66
assets
Cash paid for investment
Net cash paid to acquire subsidiaries
and other business units
Other cash payments relating to
investing activities
Subtotal of cash outflows from
222,759,439.09 317,158,489.66
investing activities
Net cash flows from investing activities -221,092,283.33 -315,440,673.66
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Cash received from borrowings 371,000,000.00 386,000,000.00
Cash received from issuance of
bonds
Other cash received relating to
4,500,000.00
financing activities
Subtotal of cash inflows from financing
375,500,000.00 386,000,000.00
activities
Repayment of borrowings 50,500,000.00 358,400,000.00
Cash paid for interest expenses and
86,548,931.74 69,033,958.44
distribution of dividends or profit
Other cash payments relating to
20,070,000.00
financing activities
Sub-total of cash outflows from 137,048,931.74 447,503,958.44
30
Report for the Third Quarter of 2015 of Hubei Sanonda Co., Ltd.
financing activities
Net cash flows from financing activities 238,451,068.26 -61,503,958.44
IV. Effect of foreign exchange rate
-278,150.43 -114,959.63
changes on cash and cash equivalents
V. Net increase in cash and cash
143,547,480.02 132,510,571.30
equivalents
Add: Opening balance of cash and
344,750,284.42 325,849,120.35
cash equivalents
VI. Closing balance of cash and cash
488,297,764.44 458,359,691.65
equivalents
II. Auditor’s report
Is this report audited?
□ Yes √ No
This report is not audited.
31
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