Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
Stock Code: 603609 Stock Abbreviation (English): Wellhope
Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd.
2019 Third Quarter Report
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
Contents
Section I Important Statements................................................................................ 3
Section II Company Information ................................................................................ 4
Section III Important Disclosures ................................................................................ 8
Section IV Appendix .................................................................................................. 10
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
Section I Important Statements
I. The Board of Directors, Supervisory Board, Directors, Supervisors and Senior
Management of Liaoning Wellhope hereby warrant that there are no false representations,
misleading statements or material omissions in this third quarter report, jointly and
severally accept full responsibility for the truthfulness, accuracy and completeness of the
contents of this report.
II. All the Board Directors attended the board meeting to deliberate the third quarter
report.
III. The Company's Chairman Jin Weidong and the Director of internal audit Zhang
Wenliang warrant the truthfulness, accuracy and completeness of the information
presented in the financial statements in this quarterly report.
IV. The third quarter report is unaudited.
V. This third quarter report has been issued in both Chinese and English versions. In case
there is any discrepancy or inconsistency between the two versions, the Chinese version
shall prevail. The disclosed Chinese version of 2019 Third Quarter Report can be obtained
at: www.sse.com.cn.
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
Section II Company Information
I. Key financial figures
Unit: yuan Currency: RMB
Change compared with
Item September 30th, 2019 December 31st, 2018
the end of prior year %
Total assets 8,829,221,113.87 6,930,694,562.43 27.39
Net assets
attributable to
5,205,327,776.91 3,851,915,758.64 35.14
the shareholders
of the Company
Item January-September, 2019 January-September, 2018 Year-on-year change %
Net cash flow
from operating 582,911,553.62 278,295,703.02 109.46
activities
Item January-September, 2019 January-September, 2018 Year-on-year change %
Operating
12,743,225,876.96 11,479,083,463.30 11.01
revenue
Net profit
attributable to
713,087,990.71 405,271,572.95 75.95
the shareholders
of the Company
Net profit
attributable to
the shareholders
of the Company 704,761,464.34 398,265,406.12 76.96
deducting
non-recurring
gains and losses
Weighted Increasing 4.14
average return 15.57 11.43
on equity % percentage points
Basic earnings
per share (yuan 0.80 0.49 63.27
per share)
Diluted earnings
per share (yuan 0.80 0.49 63.27
per share)
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
Non-recurring gains and losses
Unit: yuan Currency: RMB
Item July-September, 2019 January-September, 2019
Gains or losses on disposal of non-current
3,768,699.05 -363,117.50
assets
Government grants charged to current
gains or losses (excl. the government grants
that are closely related to the Company's
ordinary course of business and gained 3,547,059.43 19,792,699.84
constantly at fixed quotas or amounts as
per certain standards based on the state
polices)
Gains or losses on fair value changes in
holding the trading financial assets and
liabilities as well as derivative financial
assets and liabilities, and investment
income from disposal of trading financial
2,577,987.76 2,093,791.87
assets and liabilities, derivative financial
assets and liabilities as well as other debt
investment (excl. the effective portion of
hedges that arise in the Company's ordinary
course of business)
Non-operating income and expense other
-951,757.29 -13,425,746.89
than those described above
Non-controlling interests effects (after-tax) 327,744.32 4,599,140.37
Income tax effects -1,655,046.60 -4,370,241.32
Total 7,614,686.67 8,326,526.37
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
II. The number of shareholders, top ten shareholders and top ten shareholders holding
unrestricted shares as at the end of the reporting period
Unit: share
The number of shareholders 26,513
Shareholding of top ten shareholders
Total shares Pledged or Frozen
Name of Restricted Nature of
held at the %
shareholder shares held Status Shares shareholder
period-end
Domestic
Jin Weidong 149,549,498 16.21 3,062,117 Pledged 56,270,000 natural
person
DE HEUS Foreign
82,303,939 8.92 2,296,587 Non
MAURITIUS corporation
Domestic
Ding Yunfeng 81,929,558 8.88 1,531,058 Pledged 49,450,000 natural
person
Domestic
Shao Caimei 54,559,878 5.92 Pledged 16,900,000 natural
person
Domestic
Wang Fengjiu 50,084,602 5.43 Pledged 10,260,000 natural
person
Domestic
Zhang Tiesheng 48,360,000 5.24 Pledged 6,600,000 natural
person
Shenyang
Wellhope Heli Domestic
48,360,000 5.24 Non
Investment Co., corporation
Ltd.
Domestic
Wang Zhongtao 47,916,529 5.20 765,529 Pledged 8,140,000 natural
person
Sinosafe Assets
Management-
Industrial and
Commercial Bank
of China-Sinosafe
Assets
29,527,559 3.20 29,527,559 Unknown Other
Management
Stably Increasing
Profit No. 12
Collection Asset
Management
Product
Generali China
Asset
Management-
China Minsheng
Banking Corp-
Generali China 19,685,039 2.13 19,685,039 Unknown Other
Asset-Non-public
Offering Selection
No. 103 Asset
Management
Product
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
Top ten shareholders holding unrestricted shares
Shares by type
Name of shareholder Unrestricted shares held
Type Shares
RMB common
Jin Weidong 146,487,381 146,487,381
stock
RMB common
Ding Yunfeng 80,398,500 80,398,500
stock
RMB common
DE HEUS MAURITIUS 80,007,352 80,007,352
stock
RMB common
Shao Caimei 54,559,878 54,559,878
stock
RMB common
Wang Fengjiu 50,084,602 50,084,602
stock
RMB common
Zhang Tiesheng 48,360,000 48,360,000
stock
Shenyang Wellhope RMB common
48,360,000 48,360,000
Heli Investment Co., Ltd. stock
RMB common
Wang Zhongtao 47,151,000 47,151,000
stock
National Council for Social RMB common
12,000,000 12,000,000
Security Fund China 503 Portfolio stock
RMB common
Gao Junsong 10,343,772 10,343,772
stock
1. Jin Weidong, Ding Yunfeng, Wang Fengjiu, Shao Caimei and
Relationship of above Wang Zhongtao act in concert;
shareholders or statement made 2. Jin Weidong is the actual controller of Shenyang Wellhope Heli
by the parties acting in concert Investment Co., Ltd.
3. No relation or concerted action is found among other shareholders.
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
Section III Important Disclosures
I. Changes of major items in the financial statements
Item September 30th, 2019 January 1st, 2019 Change Explanation
Cash received from
Monetary capital 1,609,685,128.42 928,902,753.06 73.29%
non-public issuing stock
The position of
Derivative financial
4,890,492.40 2,042,527.60 139.43% derivative financial
assets
assets increased
Honor of notes and
Notes receivable 2,122,085.80 13,611,778.44 -84.41% letter of credit
decreased
Newly increased
accounts receivable
Accounts receivable 722,385,769.25 397,891,678.23 81.55%
during the settlement
period
Prepayment for raw
Prepayments 263,533,919.32 185,899,348.53 41.76%
materials increased
Newly increased other
Other equity
equity instrument
instrument 4,547,809.52 3,197,809.52 42.22%
investment in the
investment
current period
Completed
Construction in constructions that
170,941,517.37 255,719,188.30 -33.15%
progress transferred to fixed
assets decreased
Advance payment for
Other non-current
437,311,341.21 197,497,688.18 121.43% long-lived assets and
assets
fees to farms increased
Productive Breeding broilers and
59,836,261.46 30,484,794.88 96.28%
biological assets pigs increased
Accounts payable
related to commodities
Accounts payable 811,158,972.23 572,729,779.31 41.63%
purchasing and
expenses increased
Corporate income tax
Tax payable 37,842,143.05 28,744,792.72 31.65%
payable increased
Long-term borrowings
Non-current
and long-term payables
liabilities due within 52,987,170.91 32,999,999.96 60.57%
due within one year
one year
increased
Long-term Long-term borrowings
42,500,000.00 118,500,000.00 -64.14%
borrowings from bank decreased
The reclassification of
long-term payables due
Long-term payables 14,994,779.23 23,345,833.38 -35.77%
within one year
decreased
Premium generated by
Capital reserve 874,272,800.08 153,824,536.37 468.36%
non-public issuing stock
Exchange differences on
translation of foreign
Other
Not currency financial
comprehensive 8,020,686.13 -1,798,486.75
Applicable statements that
income
calculated under equity
method increased
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
Item January-September, 2019 January-September, 2018 Change Explanation
The government grants
that are closely related
Other income 4,389,415.74 2,201,587.35 99.38% to the Company's
ordinary course of
business increased
Income from
investments in
Income from
346,071,893.42 197,988,419.80 74.79% associated companies
investment
and joint ventures
increased
Gain or loss from
Floating gain or loss of
changes in fair -874,910.00 926,860.00 -194.40%
futures decreased
value
Withdrawing of
Assets impairment Not provision for
-5,409,240.15 -8,514,579.41
loss Applicable obsolete stock
increased
Gain or loss from fixed
Gain or loss from Not
-566,068.09 -862,349.93 assets disposal
assets disposal Applicable
increased
Non-operating The government grants
18,299,191.94 10,690,785.47 71.17%
income increased
Non-operating Extraordinary loss
20,913,066.65 5,603,955.67 273.18%
expenditure increased
Cash received from
Net cash flow from selling commodities and
582,911,553.62 278,295,703.02 109.46%
operating activities providing labor services
increased
Net cash flow from Not Cash paid for asset
-549,750,402.35 -382,923,285.99
investing activities Applicable acquisition increased
Cash received from
Net cash flow from Not
616,139,019.52 -85,032,946.74 non-public issuing stock
financing activities Applicable
in the current year
II. Net profit in 2019 is estimated to change significantly compared with the same
period of prior year
It is anticipated that the white feather broiler market in the fourth quarter will maintain a
high prosperity, the Company's production scale of broiler raising and slaughtering will be
further expanded. It is estimated that the net profit attributable to the shareholders of
the Company in 2019 will increase substantially compared with the same period of prior
year. The actual financial data shall be subject to the Company's 2019 annual report and
other announcements.
Company Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd.
Legal representative Jin Weidong
Date October 25th, 2019
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
Section IV Appendix
I. Financial statement
Consolidated Balance Sheet
September 30th, 2019
Liaoning Wellhope Unit: yuan
Item September 30th, 2019 December 31st, 2018
Current assets:
Monetary capital 1,609,685,128.42 928,902,753.06
Derivative financial assets 4,890,492.40 2,042,527.60
Notes receivable 2,122,085.80 13,611,778.44
Accounts receivable 722,385,769.25 397,891,678.23
Prepayments 263,533,919.32 185,899,348.53
Other receivables 111,108,994.19 98,997,213.04
including: Interest receivable
Dividends receivable 21,741,783.34 5,481,783.34
Inventory 1,330,584,026.65 1,410,869,192.26
Other current assets 120,994,671.19 118,636,045.77
Total current assets 4,165,305,087.22 3,156,850,536.93
Non-current assets:
Available-for-sale financial assets 3,680,000.00
Long-term equity investment 1,720,384,804.80 1,354,820,455.99
Other equity instrument investment 4,547,809.52
Fixed assets 1,874,785,547.90 1,516,702,438.29
Construction in progress 170,941,517.37 255,719,188.30
Productive biological assets 59,836,261.46 30,484,794.88
Intangible assets 213,075,369.97 206,387,940.29
Goodwill 290,425.67 290,425.67
Long-term prepaid expenses 154,154,013.17 177,903,367.82
Deferred income tax assets 28,588,935.58 30,357,726.08
Other non-current assets 437,311,341.21 197,497,688.18
Total non-current assets 4,663,916,026.65 3,773,844,025.50
Total assets 8,829,221,113.87 6,930,694,562.43
Current liabilities:
Short-term borrowings 1,411,012,465.70 1,347,690,168.49
Accounts payable 811,158,972.23 572,729,779.31
Advance receipt 201,234,394.23 161,173,916.67
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
Payroll payable 44,193,611.42 49,731,930.35
Tax payable 37,842,143.05 28,744,792.72
Other payables 365,417,736.77 309,537,195.12
including: Interest payable 1,312,168.75 1,784,257.05
Dividends payable 1,434,027.14 526,000.00
Non-current liabilities due within one year 52,987,170.91 32,999,999.96
Total current liabilities 2,923,846,494.31 2,502,607,782.62
Non-current liabilities:
Long-term borrowings 42,500,000.00 118,500,000.00
Long-term payable 14,994,779.23 23,345,833.38
Deferred income 21,027,395.00 20,252,967.41
Total non-current liabilities 78,522,174.23 162,098,800.79
Total liabilities 3,002,368,668.54 2,664,706,583.41
Owners' equity(or shareholders' equity):
Paid-up capital (or share capital) 922,304,396.00 845,751,469.00
Capital reserve 874,272,800.08 153,824,536.37
deduct: treasury stock 70,688,750.00 70,688,750.00
Other comprehensive income 8,020,686.13 -1,316,942.00
Surplus reserves 272,882,920.19 272,882,920.19
Undistributed profits 3,198,535,724.51 2,651,462,525.08
Total equity attributable to the owners of
5,205,327,776.91 3,851,915,758.64
parent company
Non-controlling interests 621,524,668.42 414,072,220.38
Total owners' equity (or shareholders'
5,826,852,445.33 4,265,987,979.02
equity)
Total liabilities and owners' equity (or
8,829,221,113.87 6,930,694,562.43
shareholders' equity)
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
Consolidated Balance Sheet of Parent Company
September 30th, 2019
Unit: yuan
Item September 30th, 2019 December 31st, 2018
Current assets:
Monetary capital 1,144,744,432.03 750,589,871.09
Derivative financial assets 3,363,265.40 2,042,527.60
Accounts receivable 31,973,440.68 16,033,809.05
Prepayments 1,831,374.99 2,278,798.85
Other receivables 1,484,068,536.13 869,671,230.01
including: Interest receivable
Dividends receivable 30,365,270.58 15,225,270.58
Inventory 29,524,950.94 41,986,504.36
Total current assets 2,695,506,000.17 1,682,602,740.96
Non-current assets:
Available-for-sale financial assets 3,000,000.00
Long-term equity investment 3,759,934,279.54 3,285,783,087.96
Other equity instrument investment 4,039,369.92
Fixed assets 134,591,950.20 73,509,615.43
Construction in progress 1,095,059.48 56,425,656.79
Intangible assets 15,642,535.81 16,169,866.87
Long-term prepaid expenses 751,060.43 854,845.30
Deferred income tax assets 9,578,983.89 9,060,127.91
Total non-current assets 3,925,633,239.27 3,444,803,200.26
Total assets 6,621,139,239.44 5,127,405,941.22
Current liabilities:
Short-term borrowings 1,070,000,000.00 1,075,000,000.00
Accounts payable 36,245,770.92 7,636,692.77
Advance receipt 1,027,833.81 2,690,153.80
Payroll payable 1,651,664.39 2,749,116.65
Tax payable 3,642,935.49 4,166,334.74
Other payables 1,472,570,828.20 1,026,382,418.43
including: Interest payable 1,312,168.75 1,601,798.61
Dividends payable
Non-current liabilities due within one year 34,000,000.00 20,000,000.00
Total current liabilities 2,619,139,032.81 2,138,624,716.39
Non-current liabilities:
Long-term borrowings 42,000,000.00 118,000,000.00
Deferred income 10,015,625.00 7,425,000.00
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
Deferred income tax liabilities 94,650.00
Total non-current liabilities 52,110,275.00 125,425,000.00
Total liabilities 2,671,249,307.81 2,264,049,716.39
Owners' equity(or shareholders' equity):
Paid-up capital (or share capital) 922,304,396.00 845,751,469.00
Capital reserves 870,289,578.29 160,705,065.92
deduct: treasury stock 70,688,750.00 70,688,750.00
Other comprehensive income 7,216,008.84 -1,305,935.62
Surplus reserves 272,882,920.19 272,882,920.19
Undistributed profits 1,947,885,778.31 1,656,011,455.34
Total owners' equity (or shareholders'
3,949,889,931.63 2,863,356,224.83
equity)
Total liabilities and owners' equity (or
6,621,139,239.44 5,127,405,941.22
shareholders' equity)
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
Consolidated Income Statement
January-September, 2019
Liaoning Wellhope Unit: yuan
July-September, July-September, January-September, January-September,
Item
2019 2018 2019 2018
1. Total operating revenue 5,015,825,872.21 4,628,867,760.81 12,743,225,876.96 11,479,083,463.30
including: Operating revenue 5,015,825,872.21 4,628,867,760.81 12,743,225,876.96 11,479,083,463.30
2. Total operating costs 4,690,833,834.78 4,432,517,695.01 12,126,002,964.90 11,118,921,432.10
including:
4,433,516,820.01 4,212,766,453.17 11,419,337,434.95 10,510,246,761.25
Operating costs
Taxes and surtaxes 6,525,828.70 6,081,909.91 19,224,556.04 17,841,100.95
Selling expenses 149,408,169.31 118,948,537.14 389,398,894.38 329,650,050.81
Administrative expenses 64,201,377.00 52,225,577.05 191,117,342.17 155,830,999.54
R&D expenses 17,202,763.02 16,452,748.36 47,224,108.89 46,224,588.44
Financial expenses 19,978,876.74 26,042,469.38 59,700,628.47 59,127,931.11
including: Interest expenses 19,456,681.91 17,684,031.56 59,668,390.61 54,233,446.14
Interest income -3,115,573.29 -979,741.56 -5,756,801.45 -3,881,601.66
add: Other income 2,196,465.64 1,716,287.35 4,389,415.74 2,201,587.35
Income from investment 158,004,862.27 105,248,253.41 346,071,893.42 197,988,419.80
including: Income from
investments in associated 151,912,887.19 104,370,812.63 338,108,829.04 193,521,407.95
companies and joint ventures
Gain or loss from changes in fair
-705,710.00 91,400.00 -874,910.00 926,860.00
value
Credit impairment loss -9,144,048.97 -14,437,412.66 -27,678,451.02 -39,469,148.47
Assets impairment loss -5,140,167.72 2,176,821.66 -5,409,240.15 -8,514,579.41
Gain or loss from assets
-520,708.86 -23,354.80 -566,068.09 -862,349.93
disposal
3. Operating profit 469,682,729.79 291,122,060.76 933,155,551.96 512,432,820.54
add: Non-operating income 2,484,261.96 2,125,220.64 18,299,191.94 10,690,785.47
deduct: Non-operating
2,590,380.06 1,309,545.58 20,913,066.65 5,603,955.67
expenditure
4. Pretax profit 469,576,611.69 291,937,735.82 930,541,677.25 517,519,650.34
deduct: Income tax expense 34,337,932.36 17,291,819.98 65,556,455.05 50,441,413.36
5. Net profit 435,238,679.33 274,645,915.84 864,985,222.20 467,078,236.98
Net profit from continuing
435,238,679.33 274,645,915.84 864,985,222.20 467,078,236.98
operations
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
A. Net profit attributable to the
shareholders of parent 354,079,351.53 240,912,462.24 713,087,990.71 405,271,572.95
company
B. Non-controlling interests
81,159,327.80 33,733,453.60 151,897,231.49 61,806,664.03
income
6. Other comprehensive
5,964,430.88 3,147,862.52 10,626,389.70 -1,097,710.29
income, net of tax
Attributable to owners of
5,874,088.31 3,147,862.52 9,819,172.88 -1,097,710.29
parent company
a. Other comprehensive
income that cannot be
reclassified into gains or losses
b. Other comprehensive
income that will be reclassified 5,874,088.31 3,147,862.52 9,819,172.88 -1,097,710.29
into the gains or losses
(a) Other comprehensive
income that can be transferred
5,763,669.61 3,147,862.52 8,832,574.54 -1,097,710.29
in gains or losses under the
equity method
(b) Exchange differences on
translation of foreign currency 110,418.70 986,598.34
financial statements
Attributable to non-controlling
90,342.57 807,216.82
interests
7. Total comprehensive income 441,203,110.21 277,793,778.36 875,611,611.90 465,980,526.69
Attributable to the owners of
359,953,439.84 244,060,324.76 722,907,163.59 404,173,862.66
parent company
Attributable to non-controlling
81,249,670.37 33,733,453.60 152,704,448.31 61,806,664.03
interests
8. EPS
a. Basic earnings per share
0.39 0.29 0.80 0.49
(yuan per share)
b. Diluted earnings per share
0.39 0.29 0.80 0.49
(yuan per share)
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
Consolidated Income Statement of Parent Company
January-September, 2019
Unit: yuan
July-September, July-September, January-September, January-September,
Item
2019 2018 2019 2018
1. Total operating revenue 196,512,399.27 169,196,467.35 458,252,021.02 476,932,368.06
Deduct: Operating costs 131,084,785.29 112,084,564.58 305,136,741.09 319,893,020.91
Taxes and surtaxes 367,562.19 371,820.43 1,180,372.80 1,137,317.46
Selling expenses 3,050,709.07 4,168,046.08 10,301,948.92 10,773,210.49
Administrative expenses 8,319,467.74 3,273,186.47 24,824,924.67 15,686,590.29
R&D expenses 4,946,284.85 8,634,108.47 15,250,620.64 19,626,528.13
Financial expenses 6,015,985.79 6,636,485.68 20,980,959.39 20,128,547.11
including: Interest expenses 14,418,872.89 13,325,163.31 43,531,437.16 41,144,052.39
Interest income -8,416,479.52 -6,702,416.27 -22,709,313.34 -21,120,507.58
add: Other income 1,225,625.00 1,349,375.00
Income from investment 174,957,553.38 111,079,089.08 377,677,888.29 202,759,510.74
including: Income from
investments in associated 152,387,386.72 104,279,261.79 338,066,397.52 193,003,760.29
companies and joint ventures
Gain or loss from changes in fair
-135,780.00 91,400.00 631,000.00 926,860.00
value
Credit impairment loss 2,992,205.06 983,608.03 -390,164.84 -19,940,097.74
Assets impairment loss -6,150,602.09
Gain or loss from assets
8,921.74 -22,077.70
disposal
2. Operating profit 221,776,129.52 146,182,352.75 459,822,474.26 267,282,824.58
add: Non-operating income 1,070.00 570,000.00 10,629,590.00 3,342,106.50
deduct: Non-operating
15,000.00 600,000.00 1,341,100.00 600,058.28
expenditure
3. Pretax profit 221,762,199.52 146,152,352.75 469,110,964.26 270,024,872.80
deduct: Income tax expense 6,886,203.87 2,925,154.03 11,221,850.01 7,164,044.08
4. Net profit 214,875,995.65 143,227,198.72 457,889,114.25 262,860,828.72
Net profit from continuing
214,875,995.65 143,227,198.72 457,889,114.25 262,860,828.72
operations
5. Other comprehensive
5,763,669.61 3,147,862.52 8,832,574.54 -1,097,710.29
income, net of tax
a. Other comprehensive income
that cannot be reclassified into
gains or losses
b. Other comprehensive income
that will be reclassified into 5,763,669.61 3,147,862.52 8,832,574.54 -1,097,710.29
gains or losses
(a) Other comprehensive
income that can be transferred
5,763,669.61 3,147,862.52 8,832,574.54 -1,097,710.29
in gains or losses under the
equity method
6. Total comprehensive income 220,639,665.26 146,375,061.24 466,721,688.79 261,763,118.43
16 / 23
Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
Consolidated Statement of Cash Flow
January-September, 2019
Liaoning Wellhope Unit: yuan
Item January-September, 2019 January-September, 2018
1. Cash flow from operating activities
Cash received from selling commodities,
12,867,947,661.38 11,489,358,737.29
providing labor services
Tax refunds 20,422,787.11 19,082,294.89
Cash received from other activities related to
56,208,041.93 60,725,550.46
operating
Sub-total of cash inflow of operating activities 12,944,578,490.42 11,569,166,582.64
Cash paid for purchasing commodities and
11,276,295,939.90 10,362,295,276.16
receiving labor services
Cash paid to and for employee 471,606,862.89 406,073,770.90
Tax payments 94,435,382.11 102,198,918.06
Cash paid to other activities related to operating 519,328,751.90 420,302,914.50
Sub-total of cash outflow of operating
12,361,666,936.80 11,290,870,879.62
activities
Net cash flow from operating activities 582,911,553.62 278,295,703.02
2. Cash flow from investing activities
Cash received from disinvestment 1,050,000.00 187,516.32
Cash received from return on investment 22,103,112.29 11,464,468.26
Net cash received from disposal of fixed assets,
1,267,093.00 1,179,134.92
intangible assets and other long-lived assets
Net cash received from disposal of subsidiaries
194,529.44 522,233.92
and other business units
Cash received from other activities related to
2,377,932.15 994,414.81
investment
Sub-total of cash inflow of investing activities 26,992,666.88 14,347,768.23
Cash paid for acquiring and building fixed assets,
384,826,859.83 320,175,157.06
intangible assets and other long-lived assets
Cash paid for investments 42,134,198.47 77,095,897.16
Net cash paid for acquiring subsidiaries and
113,573,868.96
other business units
Cash paid to other activities related to
36,208,141.97
investment
Sub-total of cash outflow of investing activities 576,743,069.23 397,271,054.22
Net cash flow from investing activities -549,750,402.35 -382,923,285.99
17 / 23
Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
3. Cash flow from financing activities
Cash received from absorbing investments 850,192,738.50 7,570,000.00
including: Capital contributed by non-controlling
80,415,000.00 7,570,000.00
interests to subsidiaries
Cash received from borrowings 1,204,498,455.68 1,060,990,000.00
Cash received from other activities related to
640,000.00
financing
Sub-total of cash inflow of financing activities 2,055,331,194.18 1,068,560,000.00
Repayments of borrowings 1,205,540,041.67 1,022,300,000.00
Cash paid for distributing dividends, profits, or
227,218,147.63 131,292,946.74
paid for interests
including: Dividends or profits paid by
4,420,306.88 1,895,000.00
subsidiaries to non-controlling interests
Cash paid to other activities related to financing
6,433,985.36
activities
Sub-total of cash outflow of financing activities 1,439,192,174.66 1,153,592,946.74
Net cash flow from financing activities 616,139,019.52 -85,032,946.74
4. Effect of foreign exchange rate fluctuations
-3,773,741.25 250,822.26
on cash and cash equivalents
5. Net increase in cash and cash equivalents 645,526,429.54 -189,409,707.45
add: Opening balance of cash and cash
889,204,873.97 740,680,891.81
equivalents
6. Closing balance of cash and cash equivalents 1,534,731,303.51 551,271,184.36
18 / 23
Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
Consolidated Statement of Cash Flow of Parent Company
January-September, 2019
Unit: yuan
January-September, January-September,
Item
2019 2018
1. Cash flow from operating activities
Cash received from selling commodities, providing labor
436,047,078.54 457,034,069.76
services
Cash received from other activities related to operating 245,362,412.47 291,578,942.04
Sub-total of cash inflow of operating activities 681,409,491.01 748,613,011.80
Cash paid for purchasing commodities and receiving labor
263,010,743.82 300,576,248.55
services
Cash paid to and for employee 21,895,620.99 18,367,021.64
Tax payments 15,974,070.95 14,833,947.51
Cash paid to other activities related to operating 401,130,039.95 357,853,863.11
Sub-total of cash outflow of operating activities 702,010,475.71 691,631,080.81
Net cash flow from operating activities -20,600,984.70 56,981,930.99
2. Cash flow from investing activities
Cash received from disinvestment 1,050,000.00 812,000.00
Cash received from return on investment 52,466,504.29 18,509,072.37
Net cash received from disposal of fixed assets, intangible
34,000.00
assets and other long-lived assets
Net cash received from disposal of subsidiaries and other
4,000,001.00
business units
Cash received from other activities related to investment 994,414.81
Sub-total of cash inflow of investing activities 57,550,505.29 20,315,487.18
Cash paid for acquiring and building fixed assets, intangible
9,465,370.42 17,925,156.39
assets and other long-lived assets
Cash paid for investments 127,573,378.79 157,553,808.71
Cash paid to other activities related to investment 3,010,000.00
Sub-total of cash outflow of investing activities 140,048,749.21 175,478,965.10
Net cash flow from investing activities -82,498,243.92 -155,163,477.92
3. Cash flow from financing activities
Cash received from absorbing investments 769,777,738.50
Cash received from borrowings 770,000,000.00 1,040,000,000.00
Sub-total of cash inflow of financing activities 1,539,777,738.50 1,040,000,000.00
Repayments of borrowings 837,000,000.00 1,002,000,000.00
Cash paid for distributing dividends, profits, or paid for
209,835,858.30 122,958,477.74
interests
Sub-total of cash outflow of financing activities 1,046,835,858.30 1,124,958,477.74
Net cash flow from financing activities 492,941,880.20 -84,958,477.74
4. Effect of foreign exchange rate fluctuations on cash and
157.39 288.89
cash equivalents
5. Net increase in cash and cash equivalents 389,842,808.97 -183,139,735.78
add: Opening balance of cash and cash equivalents 740,891,873.25 525,941,409.05
6. Closing balance of cash and cash equivalents 1,130,734,682.22 342,801,673.27
19 / 23
Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
II. Implementing new financial instrument standards, new income standards and new
leasing standards at the beginning of the current year, the adjustment of some
items in the financial statements
Consolidated Balance Sheet
Unit: yuan Currency:RMB
Item December 31st, 2018 January 1st, 2019 Adjustment
Current assets:
Monetary capital 928,902,753.06 928,902,753.06
Derivative financial assets 2,042,527.60 2,042,527.60
Notes receivable 13,611,778.44 13,611,778.44
Accounts receivable 397,891,678.23 397,891,678.23
Prepayments 185,899,348.53 185,899,348.53
Other receivables 98,997,213.04 98,997,213.04
including: Interest receivable
Dividends receivable 5,481,783.34 5,481,783.34
Inventory 1,410,869,192.26 1,410,869,192.26
Other current assets 118,636,045.77 118,636,045.77
Total current assets 3,156,850,536.93 3,156,850,536.93
Non-current assets:
Available-for-sale financial assets 3,680,000.00 -3,680,000.00
Long-term equity investment 1,354,820,455.99 1,354,820,455.99
Other equity instrument investment 3,197,809.52 3,197,809.52
Fixed assets 1,516,702,438.29 1,516,702,438.29
Construction in progress 255,719,188.30 255,719,188.30
Productive biological assets 30,484,794.88 30,484,794.88
Intangible assets 206,387,940.29 206,387,940.29
Goodwill 290,425.67 290,425.67
Long-term prepaid expenses 177,903,367.82 177,903,367.82
Deferred income tax assets 30,357,726.08 30,357,726.08
Other non-current assets 197,497,688.18 197,497,688.18
Total non-current assets 3,773,844,025.50 3,773,361,835.02 -482,190.48
Total assets 6,930,694,562.43 6,930,212,371.95 -482,190.48
Current liabilities:
Short-term borrowings 1,347,690,168.49 1,347,690,168.49
Accounts payable 572,729,779.31 572,729,779.31
Advance receipt 161,173,916.67 161,173,916.67
Payroll payable 49,731,930.35 49,731,930.35
Tax payable 28,744,792.72 28,744,792.72
Other payables 309,537,195.12 309,537,195.12
including: Interest payable 1,784,257.05 1,784,257.05
20 / 23
Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
Dividends payable 526,000.00 526,000.00
Non-current liabilities due within one
32,999,999.96 32,999,999.96
year
Total current liabilities 2,502,607,782.62 2,502,607,782.62
Non-current liabilities:
Long-term borrowings 118,500,000.00 118,500,000.00
Long-term payables 23,345,833.38 23,345,833.38
Deferred income 20,252,967.41 20,252,967.41
Total non-current liabilities 162,098,800.79 162,098,800.79
Total liabilities 2,664,706,583.41 2,664,706,583.41
Owners' equity (or shareholders'
equity):
Paid-up capital (or share capital) 845,751,469.00 845,751,469.00
Capital reserve 153,824,536.37 153,824,536.37
deduct: treasury stock 70,688,750.00 70,688,750.00
Other comprehensive income -1,316,942.00 -1,798,486.75 -481,544.75
Surplus reserves 272,882,920.19 272,882,920.19
Undistributed profits 2,651,462,525.08 2,651,462,525.08
Total equity attributable to the owners
3,851,915,758.64 3,851,434,213.89 -481,544.75
of parent company
Non-controlling interests 414,072,220.38 414,071,574.65 -645.73
Total owners' equity
4,265,987,979.02 4,265,505,788.54 -482,190.48
(or shareholders' equity)
Total liabilities and owners' equity
6,930,694,562.43 6,930,212,371.95 -482,190.48
(or shareholders' equity)
21 / 23
Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
Consolidated Balance Sheet of Parent Company
Unit: yuan Currency:RMB
Item December 31st, 2018 January 1st, 2019 Adjustment
Current assets:
Monetary capital 750,589,871.09 750,589,871.09
Derivative financial assets 2,042,527.60 2,042,527.60
Accounts receivable 16,033,809.05 16,033,809.05
Prepayments 2,278,798.85 2,278,798.85
Other receivables 869,671,230.01 869,671,230.01
including: Interest receivable
Dividends receivable 15,225,270.58 15,225,270.58
Inventory 41,986,504.36 41,986,504.36
Total current assets 1,682,602,740.96 1,682,602,740.96
Non-current assets:
Available-for-sale financial assets 3,000,000.00 -3,000,000.00
Long-term equity investment 3,285,783,087.96 3,285,783,087.96
Other equity instrument investment 2,689,369.92 2,689,369.92
Fixed assets 73,509,615.43 73,509,615.43
Construction in progress 56,425,656.79 56,425,656.79
Intangible assets 16,169,866.87 16,169,866.87
Long-term prepaid expenses 854,845.30 854,845.30
Deferred income tax assets 9,060,127.91 9,060,127.91
Total non-current assets 3,444,803,200.26 3,444,492,570.18 -310,630.08
Total assets 5,127,405,941.22 5,127,095,311.14 -310,630.08
Current liabilities:
Short-term borrowings 1,075,000,000.00 1,075,000,000.00
Accounts payable 7,636,692.77 7,636,692.77
Advance receipt 2,690,153.80 2,690,153.80
Payroll payable 2,749,116.65 2,749,116.65
Tax payable 4,166,334.74 4,166,334.74
Other payables 1,026,382,418.43 1,026,382,418.43
including: Interest payable 1,601,798.61 1,601,798.61
Non-current liabilities due within one
20,000,000.00 20,000,000.00
year
Total current liabilities 2,138,624,716.39 2,138,624,716.39
Non-current liabilities:
Long-term borrowings 118,000,000.00 118,000,000.00
Deferred income 7,425,000.00 7,425,000.00
Total non-current liabilities 125,425,000.00 125,425,000.00
Total liabilities 2,264,049,716.39 2,264,049,716.39
22 / 23
Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
Owners' equity
(or shareholders' equity):
Paid-up capital (or share capital) 845,751,469.00 845,751,469.00
Capital reserve 160,705,065.92 160,705,065.92
deduct: treasury stock 70,688,750.00 70,688,750.00
Other comprehensive income -1,305,935.62 -1,616,565.70 -310,630.08
Surplus reserves 272,882,920.19 272,882,920.19
Undistributed profits 1,656,011,455.34 1,656,011,455.34
Total owners' equity (or shareholders'
2,863,356,224.83 2,863,045,594.75 -310,630.08
equity)
Total liabilities and owners' equity (or
5,127,405,941.22 5,127,095,311.14 -310,630.08
shareholders' equity)
23 / 23
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