Shenzhen Textile(Holdings) Co., Ltd. The First Quarterly Report 2016
Stock code: 000045, 200045 Stock Abbreviation: Shen Textile A, Shen Textile B Announcement No.: 2016-18
Shenzhen Textile (Holdings) Co., Ltd.
The First Quarterly Report 2016
1
Shenzhen Textile(Holdings) Co., Ltd. The First Quarterly Report 2016
1 Important Notice
The Board of Directors ,Supervisory Committee, all directors, supervisors and senior executives of the Company
hereby guarantees that there are no misstatement, misleading representation or important omissions in this report
and shall assume joint and several liability for the authenticity, accuracy and completeness of the contents hereof.
All the directors attended the board meeting for reviewing the Quarterly Report.
Mr.Zhu Jun, Person in charge of the Company, Mr. Zhu Jun, Chief financial officer and the Mr. Mu Linying,
the person in charge of the accounting department (the person in charge of the accounting )hereby confirm the
authenticity and completeness of the financial report enclosed in this Quarterly Report .
This Report has been prepared in both Chinese and English , In case any discrepancy , the Chinese version shall
prevail.
2
Shenzhen Textile(Holdings) Co., Ltd. The First Quarterly Report 2016
II. Main financial data and changes of shareholders
（1）Main financial data and financial index
Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed
and accounting error correction or not.
□ Yes √ No
Changes of this period over
This period Same period of last year same period of last year
（％）
Operating income（RMB） 262,310,373.65 302,735,429.91 -13.35%
Net profit attributable to the shareholders
-10,246,461.60 4,339,711.63 -336.11%
of the listed company（RMB）
Net profit after deducting of non-recurring
gain/loss attributable to the shareholders of -11,444,624.15 -19,099,161.16 40.08%
listed company（RMB）
Cash flow generated by business operation,
-23,635,239.84 42,290,099.22 -155.89%
net（RMB）
Basic earning per share(RMB/Share) -0.020 -0.010 -100.00%
Diluted gains per
-0.020 -0.010 -100.00%
share(RMB/Share)(RMB/Share)
Weighted average return on equity
-0.47% 0.20% -0.67%
（%）
Changes of this period-end
End of this period End of last period over same period-end of last
year(%)
Gross assets（RMB） 2,903,516,337.16 2,969,394,978.70 -2.22%
Net assets attributable to the shareholders
2,162,258,136.01 2,174,569,545.57 -0.57%
of the listed company（RMB）
Items and amount of non-current gains and losses
√ Applicable □ Not applicable
In RMB
Amount (Year-beginning to
Items Notes
the end of the report period.)
Non-current asset disposal gain/loss(including the write-off part
-20,504.69
for which assets impairment provision is made)
3
Shenzhen Textile(Holdings) Co., Ltd. The First Quarterly Report 2016
Special assistance fund of RMB
300,000 and finance discount of
RMB 60,486.12 are raised for the
II-phase reorganization and
expansion. RMB 324,999.99 as
fiscal assistance is raised for
Pingshan project. The narrow
range allowance for the
first-phase project is RMB
125,000.01. Amortization of
polarizing material engineering
lab is RMB125,000.01. The grant
Govemment subsidy recognized in current gain and
for imported equipment and
loss(excluding those closely related to the Company’s business 1,082,855.70
technology is RMB43,772.55 .
and granted under the state’s policies)
Supporting funds toward strategic
emerging industry from NDRC is
RMB 12,500.01. Fiscal
allowance for innovative
entrepreneurship of first-phase
project is RMB 12,500.01. Fiscal
allowance for encouraging to
bring in advanced technology
from Shenzhen municipal
government is RMB 3,597.00 .
The grant from municipal R&D
center is RMB 75,000.00 ,
Other non-operating income and expenditure except for the
132,441.15
aforementioned items
Less: Amount of influence of income tax -3,370.39
Amount of influence of minority interests（After tax） 0.00
Total 1,198,162.55 --
For the Company’s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on
information disclosure for Companies Offering their Securities to the Public-Non-recurring Gains and Losses and
its non-recurring gain/loss items as illustrated in the Explanatory Announcement No.1 on information Disclosure
for Companies offering their securities to the public-non-recurring Gains and losses which have been defined as
recurring gains and losses, it is necessary to explain the reason.
□ Applicable√ Not applicable
None of Non-recurring gain /loss items recognized as recurring gain /loss/items as defined by the information
disclosure explanatory Announcement No.1- Non –recurring gain/loss in the report period.
4
Shenzhen Textile(Holdings) Co., Ltd. The First Quarterly Report 2016
II. Total Shareholders and Shares Held by Top Ten Shareholders at the End of the Reporting
Period
1. About Total Common Shareholders, Total Preference Shareholders with the Voting Power Recovered
and the Shares Held by Top Ten Common Shareholders
In shares
Total preference shareholders
Total number of common with the voting power
32,888 0
shareholders at the period-end recovered at the end of the
reporting period(if any)
Shares held by the top 10 shareholders
Amount of Pledging or freezing
Properties of Share tradable shares
Shareholder name Quantity Status of the
shareholder proportion % with Conditional Quantity
shares
held
Shenzhen
Investment State-owned legal
46.21% 234,069,436 0
Holdings Co., person
Ltd.
Qianhai Life
insurance Co.,
Other 4.02% 20,384,816 0
Ltd.－Self funds
Huatai Portfolio
Shenzhen
Shenchao
State-owned
Technology 3.18% 16,129,032 0
Legal person
Investment Co.,
Ltd.
Anhui Guofu
Industrial Domestic non
Investment Funds State-owned 0.73% 3,708,341 0
Mangement Co., Legal person
Ltd.
MORGAN
STANLEY &
Overseas legal
CO. 0.53% 2,700,864 0
person
INTERNATION
AL PLC
Sun Huiming Domestic Nature 0.48% 2,432,526 0
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Shenzhen Textile(Holdings) Co., Ltd. The First Quarterly Report 2016
person
China Foreign
Economic &
Trade Trust Co.,
Ltd.－Yun Feng Other 0.39% 2,000,000 0
Securities
Investment Trust
Fund
Guangzhou
Guangyong
State-Owned State-owned legal
0.25% 1,243,000 0
Assets person
Management Co.,
Ltd.
Chongqing
International
Trust Co., Ltd.－
Collective capital Other 0.23% 1,160,000 0
trust of No. 2
Collective capital
trust of No. 2
Domestic Natural
Zhuang Shuzhu 0.22% 1,094,800 0
person
Shares held by the Top 10 Shareholders of Non-restricted shares
Share type
Shareholders’ Names Number of the non-restricted shares held
Share type Quantity
Shenzhen Investment Holdings Co., RMB Common
234,069,436 234,069,436
Ltd. shares
Qianhai Life insurance Co., Ltd.－ RMB Common
20,384,816 20,384,816
Self funds Huatai Portfolio shares
Shenzhen Shenchao Technology RMB Common
16,129,032 16,129,032
Investment Co., Ltd. shares
Anhui Guofu Industrial Investment RMB Common
3,708,341 3,708,341
Funds Mangement Co., Ltd. shares
Foreign shares
MORGAN STANLEY & CO. placed in
2,700,864 2,700,864
INTERNATIONAL PLC domestic
exchange
Foreign shares
Sun Huiming 2,432,526 placed in 2,432,526
domestic
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Shenzhen Textile(Holdings) Co., Ltd. The First Quarterly Report 2016
exchange
China Foreign Economic & Trade
RMB Common
Trust Co., Ltd.－Yun Feng 2,000,000 2,000,000
shares
Securities Investment Trust Fund
Guangzhou Guangyong
RMB Common
State-Owned Assets Management 1,243,000 1,243,000
shares
Co., Ltd.
Chongqing International Trust Co.,
RMB Common
Ltd.－Collective capital trust of No. 1,160,000 1,160,000
shares
2 Collective capital trust of No. 2
Foreign shares
placed in
Zhuang Shuzhu 1,094,800 1,094,800
domestic
exchange
Shenzhen Shenchao Technology Investment Co., Ltd. is a wholly-owned subsidiary of
Shenzhen Investment Holding Co., Ltd. and a person taking concerted action. Except this, the
Explanation on associated Company did not whether there is relationship between the top ten shareholders holding
relationship or concerted action of non-restricted negotiable shares and between the top ten shareholders holding non-restricted
the above shareholders negotiable shares and the top 10 shareholders or whether they are persons taking concerted
action defined in Regulations on Disclosure of Information about Shareholding of
Shareholders of Listed Companies.
Note to the top 10 common
stockholders involved in margin
None
financing & securities lending (If
any)
Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a
buy-back agreement dealing in reporting period.
□ Yes √ No
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company
have no buy –back agreement dealing in reporting period.
2.Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end of
the report period
□ Applicable √Not applicable
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Shenzhen Textile(Holdings) Co., Ltd. The First Quarterly Report 2016
III. Significant Events
I. Major changes of main accounting statement items and financial indicators in the reporting
period, as well as reasons for the changes
√ Applicable □ Not applicable
1．The ending balance of Note receivable increased by RMB 11.8297 million and 62.78% over beginning of period,
It is mainly because clients purchase with bank acceptance.
2. The ending balance of Prepayments increased by RMB 45.6234 million and 580.91% over beginning of period，
It is mainly because of the increased business volume of export by the end of this term.
3. The ending balance of Construction in progress increased by RMB 42.4931 million and 56.06% over beginning
of period，It is mainly because of the construction of project Line 6.
4. The ending balance of Short-term loans decreased by RMB 17.2622 million and 32.05% over beginning of
period，It is mainly because of the short-term loan repayment in bank.
5. The ending balance of Advance payment increased by RMB 40.5286 million and 143.72% over beginning of
period，It is mainly because of the increased expected payment for goods of export business by the end of this
term.
6. The ending balance of Tax payable increased by RMB 17.1720 million and 116.95% over beginning of period、
It is mainly because of the increased VAT in the polarizer sales.
7. The ending balance of Other comprehensive income decreased by RMB 2.0650 million and 64.28% over
beginning of period, It is mainly because of the reduced fair value of financial assets available-for-sale.
8. The ending balance of Undistributed profit decreased by RMB 10.2465 million and 111.79% over beginning of
period, It is mainly because of the loss in this term.
9. Financial expenses in current period increased by RMB6.2416 million and 151.70% year on year，It is mainly
because of the exchange loss caused by appreciation of Japanese Yen.
10. Impairment loss of assets in current period decreased by RMB4.7814 million and 55.75% year on year，It is
mainly because of the reduced falling price reserves for storage of withdrawing polarizer.
11. Investment Income in current period decreased by RMB27.80 million and 98.49% year on year ，It is mainly
because of the reduced year-on-year investment income of selling available-for-sale financial assets
12. Non-operational income in current period decreased by RMB2.0146 million and 62.37% year on year，It is
mainly because of the reduced government subsidy.
13. Income tax expenses in current period decreased by RMB6.3492 million and 65.32% year on year，It is mainly
because of the reduced incomes from taxes.
14. The net cash flows from operating activities in current period decreased by RMB65.9253 million and 155.89%
year on year，It is mainly because of raw materials has been increased.
15. The net cash flows from investing activities in current period decreased by RMB85.7880 million and 437.89%
year on year，It is mainly because of the increase of fixed assets construction and expenditure of construction in
process.
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Shenzhen Textile(Holdings) Co., Ltd. The First Quarterly Report 2016
II. The progress of significant events and influence, as well as the analysis and explanation on
resolving proposal.
√Applicable □Not applicable
（I）II-phase process of TFT-LCD Polarizer
1. Accelerate the construction of project Line 6. Within the reporting period, our company clarifies the
investment plan and construction process on the basis of optimized construction program of project Line 6.
Meanwhile, public bidding for host equipment procurement and contract signing have been finished.
2. Project Line 7, original item to raise money and invest, has been stopped. Our company decides to stop the
project Line 7 because the raised net fund for second-phase projects (Line 6 and Line 7), originally designed to
raise money for and invest in TFT-LCD polarizer, is quite less than the expected raised fund. Our company
decides to transform RMB 309.2722 million (with interest) originally raised for Line 7 into the permanent
working capital which is used to support the primary business after comprehensive thinking about operating scale
and pressure. The replacement program has been passed by the 20th session of the 6th board meeting and the
shareholders’ Meeting in 2015 (see the Notice 2016-09 and Notice 2016-16)
(II) Progress of Litigation Matters
Our company received the No. 28 notice of respondence to action concerning foreign affairs for the first
instance from the Shenzhen Intermediate People’ Court (2014) in March 6, 2014. In the case which has been
accepted and heard, the Xieli (Hong Kong) Repair Co,. Ltd. is the accuser, our company first-mentioned
defendant and Xieli (Shenzhen) Auto Co,. Ltd. the second defendant. Xieli (Hong Kong) asked: ① our company
should pay RMB 31.8579 million for its economic loss in the name of tortuous liability; ② the second defendant
should take joint liquidated liability in terms of the amount of indemnification; ③ two defendants should share the
court cost jointly. In the reporting period, the case is still in the process of hearing, so it’s still unclear whether
litigation matters have influence on the profit of the period or the after-period profit.
(III)Other Matters
In the reporting period, our goal is to increasingly improve polarizer business. Through the improvement of
equipments and speed, our productive capacity has been gradually increased and wastage has been reduced. Yield
rate of TV polarizer is over 95% steadily. Newly developed 48-inch and 55-inch TV polarizer is in the stage of
client authentication. In the reporting period, our company has applied for 2 new patents for utility models.
Among four licensing patents, one is patent for an innovation, and the other three belong to utility models.
Description of the website for
Overview of material matters Date of disclosing disclosing provisional
announcements
http://www.cninfo.com.cn)and Securities
Announcement of Replacement of Fund
times, China Securities Journal, Shanghai
Originally Raised for II-phase TFT-LCD
March 31,2016 Securities News ,Securities Daily and
Polarizer
Hong kong Commercial Daily on March
31, 2016
Announcement of Resolutions of the http://www.cninfo.com.cn)and Securities
April 22,2016
shareholders' general meeting in 2015 times, China Securities Journal, Shanghai
9
Shenzhen Textile(Holdings) Co., Ltd. The First Quarterly Report 2016
Securities News ,Securities Daily and
Hongkong Commercial Daily on April 22,
2016
III. Commitments finished in implementation by the Company, shareholders, actual
controller, acquirer, directors, supervisors, senior executives or other related parties in the
reporting period and commitments unfinished in implementation at the end of the reporting
period
√Applicable □Not applicable
Time of
Commitment Period of
Commitment Type Contents making Fulfillment
maker commitment
commitment
As Shenzhen
Investment
Holdings Co.,
Ltd., the
controlling
shareholder of
the company,
committed
when the
restricted-for-s
ale shares
from the
shares
Shenzhen restructuring
Share
Investment were listed for August 4, Sustained and Under
Commitment on share reform reduction
Holdings Co., circulation in 2006 effective Fulfillment
commitment
Ltd the market: i.
if they plan to
sell the shares
through the
securities
exchange
system in the
future, and the
decrease of
the shares they
hold reaches
5% within 6
months after
the first
10
Shenzhen Textile(Holdings) Co., Ltd. The First Quarterly Report 2016
decrease, they
will disclose
an
announcement
indicating the
sale through
the company
within two
trading days
before the first
decrease; ii.
They shall
strictly
observe the
“Guidelines
on Transfer of
Restricted-for-
sale Original
Shares of
Listed
Companies” a
nd the
provisions of
the relevant
business
principles of
Shenzhen
Stock
Exchange.
Commitment in the acquisition report
or the report on equity changes
Commitment made upon the assets
replacement
Shenzhen
Investment
Commitments
Holdings Co.,
on horizontal
Shenzhen Ltd. signed a
competition,
Investment “Letter of October 9, Sustained and Under
Commitments made upon issuance related
Holdings Co., Commitment 2009 effective Fulfillment
transaction
Ltd. and Statement
and capital
on Horizontal
occupation
Competition
Avoidance”
11
Shenzhen Textile(Holdings) Co., Ltd. The First Quarterly Report 2016
when the
company
issued
non-public
stocks in
2009.
Pursuant to
the Letter of
Commitment
and Statement,
Shenzhen
Investment
Holdings Co.,
Ltd. and its
wholly owned
subsidiary,
subsidiaries
under control
or any other
companies
that have
actual control
of it shall not
be involved in
the business
the same as or
similar to
those
Shenzhen
Textile
currently or
will run in the
future, or any
businesses or
activities that
may constitute
direct or
indirect
competition
with Shenzhen
Textile; if the
operations of
Shenzhen
Investment
12
Shenzhen Textile(Holdings) Co., Ltd. The First Quarterly Report 2016
Holdings Co.,
Ltd. and its
wholly owned
subsidiaries,
subsidiaries
under control
or other
companies
that have
actual control
of it compete
with Shenzhen
Textile in the
same industry
or contradict
the interest of
the issuer in
the future,
Shenzhen
Investment
Holdings Co.,
Ltd. shall urge
such
companies to
sell the equity,
assets or
business to
Shenzhen
Textile or a
third party;
when the
horizontal
competition
may occur due
to the business
expansion
concurrently
necessary for
Shenzhen
Investment
Holdings Co.,
Ltd. and its
wholly owned
subsidiaries,
13
Shenzhen Textile(Holdings) Co., Ltd. The First Quarterly Report 2016
subsidiaries
under control
or other
companies
that have
actual control
of it and
Shenzhen
Textile,
Shenzhen
Textile shall
have priority.
The
commitments
during the
period
non-public
issuance in
2012: 1.
Shenzhen
Investment
Holdings, as
the controlling
shareholder of
Shenzhen
Commitments
Textile,
on horizontal
Shenzhen currently
competition,
Investment hasn't the July 14, Sustained and Under
related
Holdings Co., production 2012 effective Fulfillment
transaction
Ltd. and business
and capital
activities of
occupation
inter-industry
competition
with Shenzhen
Textile or its
share-holding
subsidiary. 2.
Shenzhen
Investment
Holdings and
its
share-holding
subsidiaries or
other
14
Shenzhen Textile(Holdings) Co., Ltd. The First Quarterly Report 2016
enterprises
owned the
actual control
rights can't be
directly and
indirectly on
behalf of any
person,
company or
unit to engage
in the same or
similar
business in
any districts in
the future by
the form of
share-holding,
equity
participation,
joint venture,
cooperation,
partnership,
contract,
lease, etc., and
ensure not to
use the
controlling
shareholder's
status to
damage the
legitimate
rights and
interests of
Shenzhen
Textile and
other
shareholders,
or to gain the
additional
benefits. 3. If
there will be
the situation
of
inter-industry
15
Shenzhen Textile(Holdings) Co., Ltd. The First Quarterly Report 2016
competition
with Shenzhen
Textile for
Shenzhen
Investment
Holdings and
its
share-holding
subsidiaries or
other
enterprises
owned the
actual control
rights in the
future,
Shenzhen
Investment
Holdings will
promote the
related
enterprises to
avoid the
inter-industry
competition
through the
transfer of
equity, assets,
business and
other ways. 4.
Above
commitments
will be
continuously
effective and
irrevocable
during
Shenzhen
Investment
Holdings as
the controlling
shareholder of
Shenzhen
Textile or
indirectly
16
Shenzhen Textile(Holdings) Co., Ltd. The First Quarterly Report 2016
controlling
Shenzhen
Textile.
Commitment t
o non-public o
ffering during
the second pha
se project of S
Shenzhen hen Textile sh
Investment Share limited ares subscribe March 25,
2016-03-25 Fulfilled
Holdings Co., commitment d lock handle, 2013
Ltd. locking Shen
Textile non-pu
blic offering o
n the stock ma
rket of 36 mon
ths.
Equity incentive commitment
Other commitments made to minority
shareholders
Executed timely or not? Yes
If the commitments failed to complete
the execution when expired, should
specifically explain the reasons of None
unfulfillment and the net stage of the
working plan
IV．Prediction of Business performance for January- June 2016
Estimation of accumulative net profit from the beginning of the year to the end of next report period to be loss
probably or the warning of its material change compared with the corresponding period of the last year and
explanation of reason.
□ Applicable √ Not applicable
V. Securities investment
√ Applicable □Not applicable
Initial Number Sharehold Number Sharehold Book Gain. loss
Stock
Security Stock investmen of shares ing of shares ing balance at of the Accounti Sauce of
Abbreviat
category Code t held at proportio held at proportio the end of reporting ng items the shares
ion
cost(RM the n at the the end of n at the the period
17
Shenzhen Textile(Holdings) Co., Ltd. The First Quarterly Report 2016
B) beginning beginning the end of the reporting (RMB)
of the of the reporting reporting period
reporting reporting period period(%) (RMB)
period(sh period(%) (shares)
ares)
Financial
Debt equi
8,940,598 7,452,141 assets
Stock 000030 Fawer 985,733 0.08% 985,733 0.08% 0.00 ty
.31 .48 available
for sale
8,940,598 7,452,141
Total 985,733 -- 985,733 -- 0.00 -- --
.31 .48
Disclosure date for the notice of
approval by the Board (If any)
Disclosure date for the notice of
approval by shareholders’
Meeting (If any)
VI. Investments in derivatives
□ Applicable √ Not applicable
There is no derivative investment during the report period.
VII. The registration form of acceptance of investigation, communication and interview in the
report period for future reference
□ Applicable √ Not applicable
The Period has no research, communication and written inquiry from the investors in the report period.
VIII. External guarantee get out of line
□ Applicable √Not applicable
The Company has no external guarantee get out of the line in the Period
IX. Controlling shareholder and its related parties occupying non-business capital of the listed
company
□ Applicable √Not applicable
There are no controlling shareholder and its related parties occupying non-business capital of the listed company
in Period
18
Shenzhen Textile(Holdings) Co., Ltd. The First Quarterly Report 2016
The Board of Directors of Shenzhen Textile (Holdings) Co., Ltd.
April 29,2016
19
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