Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 Third Quarter Report
Stock Code: 603609 Stock Abbreviation (English): Wellhope
Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd.
2020 Third Quarter Report
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 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. 2020 Third Quarter Report
Section I Important Statements
I. The Board of Directors, Supervisory Board, Directors, Supervisors and Senior Leadership
of Liaoning Wellhope hereby warrant that there are no false representations, misleading
statements or material omissions in the third quarter report, jointly and severally accept
full responsibility for the truthfulness, accuracy and completeness of the contents of this
report.
II. All the Directors attended the board meeting to deliberate the third quarter report.
III. The Company's Chairman Weidong Jin and the Director of internal audit Wenliang Zhang
warrant the truthfulness, accuracy and completeness of the information presented in the
financial statements in this report.
IV. The third quarter report is unaudited.
V. This report has been disclosed 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 2020 Third Quarter Report can be obtained at:
www.sse.com.cn.
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 Third Quarter Report
Section II Company Information
I. Key Financial Figures
CNY
Item September30,2020 December31,2019 Change%
Totalassets 11,250,796,245.86 9,149,772,043.85 22.96
Netassets
attributabletothe 6,446,000,440.81 5,698,139,557.54 13.12
shareholdersofthe
Company
Item January-September,2020 January-September,2019 Year-on-year
change%
Netcashflowfrom 282,805,713.73 582,911,553.62 -51.48
operatingactivities
Item January-September,2020 January-September,2019 Year-on-year
change%
Operatingrevenue 16,857,939,370.84 12,743,225,876.96 32.29
Netprofit
attributabletothe 928,184,218.31 713,087,990.71 30.16
shareholdersofthe
Company
Netprofit
attributabletothe
shareholdersofthe 919,750,306.36 704,761,464.34 30.51
Companydeducting
non-recurringitems
Returnonequity% 15.29 15.57 Decreasedby0.28
percentagepoints
Basicearningsper
share(CNYper 1.01 0.80 26.25
share)
Dilutedearningsper
share(CNYper 1.01 0.80 26.25
share)
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 Third Quarter Report
Non-recurring items
CNY
Item July-September,2020 January-September,2020
Gains or losses on disposal of non-current -2,312,747.53 -2,879,833.68
assets
Governmentgrantschargedtocurrentgains
or losses (excl. the government grants that
are closely related to the Company's 7,813,536.65 20,438,735.72
ordinary course of business and gained
constantlyatfixedquotasoramountsasper
certainstandardsbasedonthestatepolices)
Gains or losses on fair value changes in
holding the trading financial assets and
liabilities as well as derivative financial
assetsandliabilities,andinvestmentincome
fromdisposalofthetradingfinancialassets 2,453,322.25 553,325.70
andliabilities,derivativefinancialassetsand
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 109,992.00 -4,850,061.70
thanthosedescribedabove
Non-controllinginterestseffects(after-tax) -2,025,081.60 -2,621,451.79
Incometaxeffects -1,030,626.04 -2,206,802.30
Total 5,008,395.73 8,433,911.95
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 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
Share
Thenumberofshareholders 38,013
Shareholdingoftoptenshareholders
Nameof Totalshares Restricted PledgedorFrozen Natureof
shareholder pheerldioadt-ethned% sharesheld Status Shares shareholder
Domestic
WeidongJin 149,549,498 16.22 3,062,117 Pledged 55,000,000 natural
person
DEHEUS 82,303,939 8.93 2,296,587 - - Foreign
MAURITIUS corporation
Domestic
Yunfeng Ding 81,929,558 8.89 1,531,058 Pledged 47,620,000 natural
person
Domestic
CaimeiShao 49,773,878 5.40 - - - natural
person
Domestic
Tiesheng Zhang 48,360,000 5.24 - Pledged 6,600,000 natural
person
Wulian HeliEquity
Investment 48,360,000 5.24 - - - Other
Partnership(LP)
Domestic
FengjiuWang 47,964,602 5.20 - Pledged 5,190,000 natural
person
Domestic
Zhongtao Wang 46,625,229 5.06 765,529 - - natural
person
ZhongyiAsset
Management-
ChinaMinsheng
BankingCorp-
ZhongyiAsset- 18,953,539 2.06 - - - Other
Non-public
Offering Selection
No.103Asset
Management
Product
Sinosafe Property
and Asset
Management-
Industrialand
Commercial Bank
ofChina- 17,650,146 1.91 - - - Other
StablyIncreasing
Profit
No.12Collective
Asset
Management
Product
6 / 27
Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 Third Quarter ReportTop ten shareholders holding unrestricted shares
Sharesbytype
Nameofshareholder Unrestrictedsharesheld Type Shares
Weidong Jin 146,487,381 CNYcommonstock 146,487,381
YunfengDing 80,398,500 CNYcommonstock 80,398,500
DEHEUSMAURITIUS 80,007,352 CNYcommonstock 80,007,352
Caimei Shao 49,773,878 CNYcommonstock 49,773,878
TieshengZhang 48,360,000 CNYcommonstock 48,360,000
Wulian HeliEquityInvestment 48,360,000 CNYcommonstock 48,360,000
Partnership(LP)
FengjiuWang 47,964,602 CNYcommonstock 47,964,602
ZhongtaoWang 45,859,700 CNYcommonstock 45,859,700
ZhongyiAssetManagement-
China MinshengBankingCorp-
Zhongyi Asset-Non-public 18,953,539 CNYcommonstock 18,953,539
OfferingSelectionNo.103Asset
ManagementProduct
Sinosafe PropertyandAsset
Management-Industrialand
CommercialBankofChina- 17,650,146 CNYcommonstock 17,650,146
Stably IncreasingProfit
No. 12CollectiveAsset
ManagementProduct
1. WeidongJin,YunfengDing,FengjiuWang,CaimeiShaoandZhongtao
Relationshipofabove Wangactinconcert.
shareholdersorstatementmade 2.WeidongJinistheactualcontrollerofWulianHeliEquityInvestment
bythepartiesactinginconcert Partnership(LP).
3. Norelationorconcertedactionisfoundamongothershareholders.
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 Third Quarter Report
Section III Important Disclosures
I. Changes of Major Items in the Financial Statements
CNY
Balancesheetitem September30,2020 January1,2020 Change Explanation
Tradingfinancialassets 100,000,000.00 40,000,000.00 150.00% Structuraldeposits
increased
Derivativefinancial Thepositionof
assets 8,246,791.00 3,912,584.30 110.78% derivativefinancial
assets increased
Payment for
Notesreceivable 21,827,750.84 3,696,180.25 490.55% commoditiessettledby
negotiable instrument
increased
Newly increased
Accountsreceivable 866,444,569.60 362,060,802.38 139.31% accountsreceivable
during thesettlement
period
Prepayments 394,998,568.70 222,064,368.55 77.88% Prepaymentforraw
materials increased
Other receivables
Otherreceivables 131,608,734.34 85,600,811.75 53.75% relatedtooperating,
petty cashincreased
Otherequity Newlyincreasedother
instrumentinvestment 12,921,702.93 5,760,839.23 124.30% equityinstrument
investment
The Companyincreased
Constructionin 365,457,368.84 240,012,874.86 52.27% investmentinthe
progress projectsofbroilerand
swine integrations
Biologicalassets 202,574,066.97 94,826,312.88 113.63% Breeders(swine)
increased
Advance paymentfor
Othernon-current 540,392,843.78 337,463,267.56 60.13% long-livedassetsand
assets feedingfeestofarmers
increased
Accountspayable 1,040,155,759.62 659,216,483.84 57.79% Tradeaccountspayable
increased
Taxpayable 51,093,283.66 37,680,953.84 35.59% Corporateincometax
payable increased
Long-term borrowings
Non-currentliabilities 95,228,089.23 70,593,717.62 34.90% andlong-termpayables
duewithinoneyear duewithinoneyear
increased
Long-termborrowings 352,830,000.00 174,330,000.00 102.39% Long-termborrowings
from bankincreased
Long-termpayables 49,398,235.14 11,025,000.09 348.06% Payableforfinance
lease increased
Deferred incometax
Deferredincometax 813,350.90 396,995.58 104.88% liabilitiesrecognizedby
liabilities taxabletemporary
differences increased
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 Third Quarter Report
Incomestatementitem January-September, January-September, Change Explanation
2020 2019
Feed salesvolume
continued togrowand
Operatingrevenue 16,857,939,370.84 12,743,225,876.96 32.29% revenueofbusinessesin
the industrialchain
increased
The growthofoperating
Operatingcost 15,254,503,331.16 11,419,337,434.95 33.58% revenuedrovethe
increase ofoperating
cost
Otherincome 11,307,173.33 4,389,415.74 157.60% Governmentgrants
increased
Creditimpairmentloss -44,982,365.28 -27,678,451.02 Not Theaccrualofbad-debt
applicable allowanceincreased
Not Theaccrualof
Assetsimpairmentloss -17,267,757.41 -5,409,240.15 applicable allowanceforinventory
write-down increased
Gainorlossfromassets 1,987,707.93 -566,068.09 Not Gainsfromdisposalof
disposal applicable fixedassetsincreased
Government grants
Non-operatingincome 11,539,843.27 18,299,191.94 -36.94% recordedinnon-
operating income
declined
Non-operating 13,645,780.19 20,913,066.65 -34.75% Extraordinaryloss
expenditure decreased
The growthofprofit
Incometaxexpense 113,292,732.82 65,556,455.05 72.82% drovetheincreaseof
income tax
Cashflowstatement January-September, January-September, Change Explanation
item 2020 2019
Due tothepriceoffeed
Netcashflowfrom rawmaterialsincreased
operatingactivities 282,805,713.73 582,911,553.62 -51.48% inthereportingperiod,
the stockofraw
materials increased
Expanding business
scale drovethe
Netcashflowfrom -863,635,618.41 -549,750,402.35 Not expansionofasset
investingactivities applicable investmentandthe
increase ofinvestment
expenditure
Netcashflowfrom 386,307,052.53 616,139,019.52 -37.30% Paymentfordebt
financingactivities increased
Company LiaoningWellhopeAgri-TechJointStockCo.,Ltd.
Legalrepresentative WeidongJin
Date October27,2020
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 Third Quarter Report
Section IV Appendix
I. Financial Statement
Consolidated Balance Sheet
September 30, 2020
Liaoning Wellhope CNY
Item September30,2020 December31,2019
Currentassets:
Monetarycapital 1,327,491,810.09 1,554,781,324.13
Tradingfinancialassets 100,000,000.00 40,000,000.00
Derivativefinancialassets 8,246,791.00 3,912,584.30
Notesreceivable 21,827,750.84 3,696,180.25
Accountsreceivable 866,444,569.60 362,060,802.38
Prepayments 394,998,568.70 222,064,368.55
Otherreceivables 131,608,734.34 85,600,811.75
including:Interestreceivable
Dividendreceivable 25,353,722.11 25,353,722.11
Inventory 1,963,953,478.82 1,568,373,133.15
Othercurrentassets 103,328,694.41 121,711,175.93
Total currentassets 4,917,900,397.80 3,962,200,380.44
Non-currentassets:
Long-termequityinvestment 2,345,973,948.01 2,070,047,882.51
Otherequityinstrumentinvestment 12,921,702.93 5,760,839.23
Fixedassets 2,450,650,945.78 2,023,113,939.02
Constructioninprogress 365,457,368.84 240,012,874.86
Biologicalassets 202,574,066.97 94,826,312.88
Intangibleassets 261,458,254.62 245,564,167.39
Goodwill 290,425.67 290,425.67
Long-termprepaidexpenses 107,317,432.92 134,504,217.80
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 Third Quarter Report
Deferredincometaxassets 45,858,858.54 35,987,736.49
Othernon-currentassets 540,392,843.78 337,463,267.56
Totalnon-currentassets 6,332,895,848.06 5,187,571,663.41
Total assets 11,250,796,245.86 9,149,772,043.85
Currentliabilities:
Short-termborrowings 1,328,220,741.20 1,050,878,205.81
Notespayable 4,000,000.00
Accountspayable 1,040,155,759.62 659,216,483.84
Advancereceipt 209,529,248.68
Contractliability 278,529,809.01
Payroll 67,340,581.71 62,549,364.12
Tax payable 51,093,283.66 37,680,953.84
Otherpayables 400,308,867.39 342,239,361.28
including:Interestpayable 1,302,186.81 1,528,201.39
Dividendpayable 1,434,027.14
Non-currentliabilitiesduewithinoneyear 95,228,089.23 70,593,717.62
Total currentliabilities 3,264,877,131.82 2,432,687,335.19
Non-currentliabilities:
Long-termborrowings 352,830,000.00 174,330,000.00
Long-termpayable 49,398,235.14 11,025,000.09
Deferredincome 36,857,599.70 31,841,250.00
Deferredincometaxliabilities 813,350.90 396,995.58
Totalnon-currentliabilities 439,899,185.74 217,593,245.67
Total liabilities 3,704,776,317.56 2,650,280,580.86
Owners'equity(orshareholders'equity):
Paid-upcapital(orsharecapital) 922,059,896.00 922,304,396.00
Capitalreserve 885,831,628.52 882,723,066.29
deduct:Treasurystock 45,695,815.00 70,688,750.00
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 Third Quarter Report
Other comprehensiveincome 818,205.15 6,122,835.30
Surplusreserves 352,059,456.90 352,059,456.90
Undistributedprofits 4,330,927,069.24 3,605,618,553.05
Totalowners’equityattributabletotheparent 6,446,000,440.81 5,698,139,557.54
company
Non-controllinginterests 1,100,019,487.49 801,351,905.45
Total owners'equity 7,546,019,928.30 6,499,491,462.99
(or shareholders'equity)
Totalliabilitiesandowners'equity 11,250,796,245.86 9,149,772,043.85
(or shareholders'equity)
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 Third Quarter Report
Balance Sheet of Parent Company
September 30, 2020
CNY
Item September30,2020 December31,2019
Currentassets:
Monetarycapital 835,412,522.74 1,039,575,222.99
Tradingfinancialassets 100,000,000.00 40,000,000.00
Derivativefinancialassets 7,085,109.00 2,285,934.30
Accountsreceivable 25,846,580.93 13,631,690.45
Prepayments 696,831.52 7,560,408.95
Otherreceivables 1,799,863,952.01 1,020,785,676.46
including:Interestreceivable
Dividendreceivable 33,977,209.35 33,977,209.35
Inventory 48,059,153.41 49,839,754.57
Totalcurrentassets 2,816,964,149.61 2,173,678,687.72
Non-currentassets:
Long-termequityinvestment 4,782,980,270.42 4,117,315,830.10
Otherequityinstrumentinvestment 12,651,707.44 5,539,369.92
Fixedassets 136,469,902.39 132,106,337.38
Constructioninprogress 5,084,073.40 5,163,075.76
Intangibleassets 14,774,093.89 15,425,425.33
Long-termprepaidexpenses 1,985,771.79 797,929.30
Deferredincometaxassets 11,593,454.62 10,699,738.59
Totalnon-currentassets 4,965,539,273.95 4,287,047,706.38
Totalassets 7,782,503,423.56 6,460,726,394.10
Currentliabilities:
Short-termborrowings 830,000,000.00 770,000,000.00
Accountspayable 63,298,221.15 34,960,859.00
Advancereceipt 5,019,752.33
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 Third Quarter Report
Contractliability 2,482,008.64
Payroll 2,836,563.20 4,611,910.56
Tax payable 6,617,372.23 4,624,045.02
Otherpayables 1,904,344,767.83 1,109,464,926.75
including:Interestpayable 1,191,006.25 1,261,159.72
Dividendpayable
Non-currentliabilitiesduewithinoneyear 74,500,000.00 52,000,000.00
Totalcurrentliabilities 2,884,078,933.05 1,980,681,493.66
Non-currentliabilities:
Long-termborrowings 332,500,000.00 174,000,000.00
Deferredincome 21,227,372.00 21,520,000.00
Deferredincometaxliabilities 8,972.25
Totalnon-currentliabilities 353,727,372.00 195,528,972.25
Totalliabilities 3,237,806,305.05 2,176,210,465.91
Owners'equity(orshareholders'equity):
Paid-upcapital(orsharecapital) 922,059,896.00 922,304,396.00
Capitalreserves 882,850,728.55 875,861,339.55
deduct:Treasurystock 45,695,815.00 70,688,750.00
Othercomprehensiveincome 2,121,811.54 5,621,991.32
Surplusreserves 352,059,456.90 352,059,456.90
Undistributedprofits 2,431,301,040.52 2,199,357,494.42
Total owners'equity 4,544,697,118.51 4,284,515,928.19
(orshareholders'equity)
Total liabilitiesandowners'equity 7,782,503,423.56 6,460,726,394.10
(orshareholders'equity)
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 Third Quarter Report
Consolidated Income Statement
January-September, 2020
Liaoning Wellhope CNY
Item July-September, July-September, January- January-
2020 2019 September,2020 September,2019
1.Totaloperating 7,009,559,518.56 5,015,825,872.21 16,857,939,370.84 12,743,225,876.96
revenue
including:Operating 7,009,559,518.56 5,015,825,872.21 16,857,939,370.84 12,743,225,876.96
revenue
2.Totaloperating 6,710,232,737.78 4,690,833,834.78 15,939,503,361.92 12,126,002,964.90
costs
including: 6,447,814,918.45 4,433,516,820.01 15,254,503,331.16 11,419,337,434.95
Operatingcosts
Taxesandsurtaxes 8,210,090.54 6,525,828.70 22,030,685.72 19,224,556.04
Sellingexpenses 134,032,493.04 149,408,169.31 346,702,203.66 389,398,894.38
Administrative 81,343,573.39 64,201,377.00 215,425,199.99 191,117,342.17
expenses
R&Dexpenses 21,444,562.90 17,202,763.02 52,389,481.21 47,224,108.89
Financialexpenses 17,387,099.46 19,978,876.74 48,452,460.18 59,700,628.47
including:Interest 18,446,341.53 19,456,681.91 56,352,179.63 59,668,390.61
expenses
Interestincome 5,067,576.63 3,115,573.29 13,519,245.61 5,756,801.45
add:Otherincome 5,364,573.63 2,196,465.64 11,307,173.33 4,389,415.74
Incomefrom 114,996,701.40 158,004,862.27 287,586,452.44 346,071,893.42
investment
including:Income
frominvestmentsin
associated 112,070,338.40 151,912,887.19 283,370,112.74 338,108,829.04
companiesandjoint
ventures
Gainorlossfrom -2,397,575.00 -705,710.00 -3,663,014.00 -874,910.00
changesinfairvalue
Creditimpairment -20,807,051.35 -9,144,048.97 -44,982,365.28 -27,678,451.02
loss
Assetsimpairment -5,655,601.99 -5,140,167.72 -17,267,757.41 -5,409,240.15
loss
Gainorlossfrom 440,418.53 -520,708.86 1,987,707.93 -566,068.09
assetsdisposal
3.Operatingprofit 391,268,246.00 469,682,729.79 1,153,404,205.93 933,155,551.96
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Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 Third Quarter Report
add:Non-operating 3,134,298.57 2,484,261.96 11,539,843.27 18,299,191.94
income
deduct:Non-
operating 4,848,405.61 2,590,380.06 13,645,780.19 20,913,066.65
expenditure
4.Pretaxprofit 389,554,138.96 469,576,611.69 1,151,298,269.01 930,541,677.25
deduct:Incometax 32,874,941.67 34,337,932.36 113,292,732.82 65,556,455.05
expenses
5.Netprofit 356,679,197.29 435,238,679.33 1,038,005,536.19 864,985,222.20
Netprofitfrom
continuing 356,679,197.29 435,238,679.33 1,038,005,536.19 864,985,222.20
operations
A.Netprofit
attributabletothe 322,168,482.30 354,079,351.53 928,184,218.31 713,087,990.71
shareholdersof
parentcompany
B.Non-controlling 34,510,714.99 81,159,327.80 109,821,317.88 151,897,231.49
interestsincome
6.Other
comprehensive -8,770,987.84 5,964,430.88 -6,829,827.89 10,626,389.70
income,netoftax
Attributableto
ownersofparent -7,889,082.75 5,874,088.31 -5,304,630.15 9,819,172.88
company
A.Other
comprehensive
incomethatcan’t 69,802.46 1,221,140.18
bereclassifiedinto
gainsorlosses
a. Other
comprehensive
incomethatcan’t
berecordedinto 67,457.78 67,457.78
gainsorlosses
undertheequity
method
b. Changesinthe
fairvalueofother 2,344.68 1,153,682.40
equityinstrument
investment
B.Other -7,958,885.21 5,874,088.31 -6,525,770.33 9,819,172.88
comprehensive
16 / 27
Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 Third Quarter Report
incomethatwillbe
reclassifiedinto
gainsorlosses
a. Other
comprehensive
incomethatcanbe -6,877,676.38 5,763,669.61 -4,612,517.30 8,832,574.54
recordedintogains
orlossesunderthe
equitymethod
b. Exchange
differenceson
translationof -1,081,208.83 110,418.70 -1,913,253.03 986,598.34
foreigncurrency
financialstatements
Attributabletonon- -881,905.09 90,342.57 -1,525,197.74 807,216.82
controllinginterests
7.Total
comprehensive 347,908,209.45 441,203,110.21 1,031,175,708.30 875,611,611.90
income
Attributabletothe
ownersofparent 314,279,399.55 359,953,439.84 922,879,588.16 722,907,163.59
company
Attributabletonon- 33,628,809.90 81,249,670.37 108,296,120.14 152,704,448.31
controllinginterests
8.EPS
A.Basicearnings
pershare(CNYper 0.35 0.39 1.01 0.80
share)
B.Dilutedearnings
pershare(CNYper 0.35 0.39 1.01 0.80
share)
17 / 27
Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 Third Quarter Report
Income Statement of Parent Company
January-September, 2020
CNY
Item July-September, July-September, January- January-
2020 2019 September,2020 September,2019
1.Totaloperating 307,880,743.41 196,512,399.27 711,084,996.93 458,252,021.02
revenue
deduct:Operating 208,352,507.96 131,084,785.29 492,568,655.06 305,136,741.09
costs
Taxesandsurtaxes 327,434.93 367,562.19 1,056,489.44 1,180,372.80
Sellingexpenses 3,441,372.98 3,050,709.07 10,448,389.89 10,301,948.92
Administrative 9,003,701.59 8,319,467.74 22,715,569.58 24,824,924.67
expenses
R&Dexpenses 8,681,135.78 4,946,284.85 17,889,490.25 15,250,620.64
Financialexpenses 4,693,326.60 6,015,985.79 14,331,828.36 20,980,959.39
including:Interest 13,870,026.43 14,418,872.89 41,388,041.31 43,531,437.16
expenses
Interestincome 9,193,319.27 8,416,479.52 27,251,034.62 22,709,313.34
add:Otherincome 1,670,876.00 1,225,625.00 4,844,003.63 1,349,375.00
Incomefrom 112,130,803.26 174,957,553.38 303,158,960.93 377,677,888.29
investment
including:Income
frominvestmentsin 108,589,240.10 152,387,386.72 273,466,826.96 338,066,397.52
associatedcompanies
andjointventures
Gainorlossfrom -2,362,535.00 -135,780.00 -3,620,330.00 631,000.00
changesinfairvalue
Creditimpairment 402,360.53 2,992,205.06 -1,218,247.01 -390,164.84
loss
Assetsimpairment
loss
Gainorlossfrom 43,672.89 8,921.74 43,672.89 -22,077.70
assetsdisposal
2.Operatingprofit 185,266,441.25 221,776,129.52 455,282,634.79 459,822,474.26
add:Non-operating 150,000.00 1,070.00 171,550.00 10,629,590.00
income
deduct:Non-
operating 61,262.62 15,000.00 960,821.13 1,341,100.00
expenditure
3.Pretaxprofit 185,355,178.63 221,762,199.52 454,493,363.66 469,110,964.26
18 / 27
Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 Third Quarter Report
deduct:Incometax 9,032,240.70 6,886,203.87 19,740,650.44 11,221,850.01
expenses
4.Netprofit 176,322,937.93 214,875,995.65 434,752,713.22 457,889,114.25
Netprofitfrom 176,322,937.93 214,875,995.65 434,752,713.22 457,889,114.25
continuingoperations
5.Other
comprehensive -6,877,676.38 5,763,669.61 -3,500,179.78 8,832,574.54
income,netoftax
A.Other
comprehensive
incomethatcan’tbe
reclassifiedintogains
orlosses
B.Other
comprehensive
incomethatwillbe -6,877,676.38 5,763,669.61 -3,500,179.78 8,832,574.54
reclassifiedintogains
orlosses
a.Other
comprehensive
incomethatcanbe -6,877,676.38 5,763,669.61 -3,500,179.78 8,832,574.54
recordedintogainsor
lossesunderthe
equitymethod
6.Total
comprehensive 169,445,261.55 220,639,665.26 431,252,533.44 466,721,688.79
income
19 / 27
Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 Third Quarter Report
Consolidated Statement of Cash Flow
January-September, 2020
Liaoning Wellhope CNY
Item January-September,2020 January-September,2019
1.Cashflowfromoperatingactivities
Cashreceivedfromsellingcommodities, 17,201,538,383.47 12,867,947,661.38
providinglaborservices
Taxrefunds 18,807,217.30 20,422,787.11
Cashreceivedfromotheractivitiesrelatedto 58,321,428.74 56,208,041.93
operating
Sub-totalofcashinflowofoperatingactivities 17,278,667,029.51 12,944,578,490.42
Cashpaidforpurchasingcommoditiesand 15,681,645,713.87 11,276,295,939.90
receivinglaborservices
Cashpaidtoandforemployee 559,526,780.39 471,606,862.89
Taxpayments 153,058,615.66 94,435,382.11
Cashpaidforotheractivitiesrelatedtooperating 601,630,205.86 519,328,751.90
Sub-totalofcashoutflowofoperatingactivities 16,995,861,315.78 12,361,666,936.80
Net cashflowfromoperatingactivities 282,805,713.73 582,911,553.62
2.Cashflowfrominvestingactivities
Cashreceivedfromdisinvestment 300,000,000.00 1,050,000.00
Cashreceivedfromreturnoninvestment 67,736,909.25 22,103,112.29
Net cash received from disposal of fixed assets, 3,009,190.61 1,267,093.00
intangibleassetsandotherlong-livedassets
Net cash received from disposal of subsidiaries 194,529.44
andotherbusinessunits
Cash received from other activities related to 30,810,713.98 2,377,932.15
investment
Sub-totalofcashinflowofinvestingactivities 401,556,813.84 26,992,666.88
Cashpaidforacquiringandbuildingfixedassets, 699,428,222.05 384,826,859.83
intangibleassetsandotherlong-livedassets
Cashpaidforinvestments 504,891,211.00 42,134,198.47
Netcashpaidforacquiringsubsidiariesandother 60,872,999.20 113,573,868.96
businessunits
20 / 27
Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 Third Quarter Report
Cashpaidforotheractivitiesrelatedto 36,208,141.97
investment
Sub-totalofcashoutflowofinvestingactivities 1,265,192,432.25 576,743,069.23
Netcashflowfrominvestingactivities -863,635,618.41 -549,750,402.35
3.Cashflowfromfinancingactivities
Cashreceivedfromabsorbinginvestments 147,070,000.00 850,192,738.50
including:Capitalcontributedbynon-controlling 147,070,000.00 80,415,000.00
intereststosubsidiaries
Cashreceivedfromborrowings 1,902,929,477.57 1,204,498,455.68
Cash received from other activities related to 640,000.00
financing
Sub-totalofcashinflowoffinancingactivities 2,049,999,477.57 2,055,331,194.18
Repaymentsofborrowings 1,383,904,257.25 1,205,540,041.67
Cashpaidfordividend,profit,orpaidforinterest 278,602,342.79 227,218,147.63
including:Dividendorprofitpaidbysubsidiaries 25,463,213.00 4,420,306.88
tonon-controllinginterests
Cashpaidforotheractivitiesrelatedtofinancing 1,185,825.00 6,433,985.36
Sub-totalofcashoutflowoffinancingactivities 1,663,692,425.04 1,439,192,174.66
Net cashflowfromfinancingactivities 386,307,052.53 616,139,019.52
4. Effect of foreign exchange rate fluctuations -677,209.44 -3,773,741.25
oncashandcashequivalents
5.Netincreaseincashandcashequivalents -195,200,061.59 645,526,429.54
add:Openingbalanceofcashandcash 1,508,390,481.68 889,204,873.97
equivalents
6.Closingbalanceofcashandcashequivalents 1,313,190,420.09 1,534,731,303.51
21 / 27
Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 Third Quarter ReportCash Flow Statement of Parent Company
January-September, 2020
CNY
Item January-September, January-September,
2020 2019
1.Cashflowfromoperatingactivities
Cashreceivedfromsellingcommodities,providinglabor 695,162,478.63 436,047,078.54
services
Cashreceivedfromotheractivitiesrelatedtooperating 135,113,810.43 245,362,412.47
Sub-totalofcashinflowofoperatingactivities 830,276,289.06 681,409,491.01
Cashpaidforpurchasingcommoditiesandreceivinglabor 458,232,248.79 263,010,743.82
services
Cashpaidtoandforemployee 25,710,430.67 21,895,620.99
Taxpayments 24,172,101.25 15,974,070.95
Cashpaidforotheractivitiesrelatedtooperating 52,009,974.97 401,130,039.95
Sub-totalofcashoutflowofoperatingactivities 560,124,755.68 702,010,475.71
Net cashflowfromoperatingactivities 270,151,533.38 -20,600,984.70
2.Cashflowfrominvestingactivities
Cashreceivedfromdisinvestment 300,795,071.85 1,050,000.00
Cashreceivedfromreturnoninvestment 95,635,934.02 52,466,504.29
Net cash received from disposal of fixed assets, intangible 60,000.00 34,000.00
assetsandotherlong-livedassets
Net cash received from disposal of subsidiaries and other 4,000,001.00
businessunits
Cashreceivedfromotheractivitiesrelatedtoinvestment 6,845,976.60
Sub-totalofcashinflowofinvestingactivities 403,336,982.47 57,550,505.29
Cash paid for acquiring and building fixed assets, intangible 11,460,664.72 9,465,370.42
assetsandotherlong-livedassets
Cashpaidforinvestments 873,471,211.00 127,573,378.79
Net cash paid for acquiring subsidiaries and other business 8,543,248.66
units
Cashpaidforotheractivitiesrelatedtoinvestment 262,287,414.00 3,010,000.00
Sub-totalofcashoutflowofinvestingactivities 1,155,762,538.38 140,048,749.21
Netcashflowfrominvestingactivities -752,425,555.91 -82,498,243.92
22 / 27
Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 Third Quarter Report
3.Cashflowfromfinancingactivities
Cashreceivedfromabsorbinginvestments 769,777,738.50
Cashreceivedfromborrowings 1,180,000,000.00 770,000,000.00
Cashreceivedfromotheractivitiesrelatedtofinancing 284,946,413.32
Sub-totalofcashinflowoffinancingactivities 1,464,946,413.32 1,539,777,738.50
Repaymentsofborrowings 939,000,000.00 837,000,000.00
Cashpaidfordividend,profit,orpaidforinterest 239,803,360.48 209,835,858.30
Cashpaidforotheractivitiesrelatedtofinancing 1,185,825.00
Sub-totalofcashoutflowoffinancingactivities 1,179,989,185.48 1,046,835,858.30
Netcashflowfromfinancingactivities 284,957,227.84 492,941,880.20
4. Effect of foreign exchange rate fluctuations on cash and 71.04 157.39
cashequivalents
5.Netincreaseincashandcashequivalents -197,316,723.65 389,842,808.97
add:Openingbalanceofcashandcashequivalents 1,023,685,161.19 740,891,873.25
6.Closingbalanceofcashandcashequivalents 826,368,437.54 1,130,734,682.22
23 / 27
Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 Third Quarter Report
III. Implementing the New Income Standards and Leasing Standards as of the Beginning
of 2020, the Adjustment of some Items in the Financial Statements
Consolidated Balance Sheet
CNY
Item December31,2019 January1,2020 Adjustment
Currentassets:
Monetarycapital 1,554,781,324.13 1,554,781,324.13
Tradingfinancialassets 40,000,000.00 40,000,000.00
Derivativefinancialassets 3,912,584.30 3,912,584.30
Notesreceivable 3,696,180.25 3,696,180.25
Accountsreceivable 362,060,802.38 362,060,802.38
Prepayments 222,064,368.55 222,064,368.55
Otherreceivables 85,600,811.75 85,600,811.75
including:Interestreceivable
Dividendreceivable 25,353,722.11 25,353,722.11
Inventory 1,568,373,133.15 1,568,373,133.15
Othercurrentassets 121,711,175.93 121,711,175.93
Total currentassets 3,962,200,380.44 3,962,200,380.44
Non-currentassets:
Long-termequityinvestment 2,070,047,882.51 2,070,047,882.51
Otherequityinstrument 5,760,839.23 5,760,839.23
investment
Fixedassets 2,023,113,939.02 2,023,113,939.02
Constructioninprogress 240,012,874.86 240,012,874.86
Biologicalassets 94,826,312.88 94,826,312.88
Intangibleassets 245,564,167.39 245,564,167.39
Goodwill 290,425.67 290,425.67
Long-termprepaidexpenses 134,504,217.80 134,504,217.80
Deferredincometaxassets 35,987,736.49 35,987,736.49
Othernon-currentassets 337,463,267.56 337,463,267.56
Total non-currentassets 5,187,571,663.41 5,187,571,663.41
Total assets 9,149,772,043.85 9,149,772,043.85
Currentliabilities:
Short-termborrowings 1,050,878,205.81 1,050,878,205.81
Accountspayable 659,216,483.84 659,216,483.84
Advancereceipt 209,529,248.68 -209,529,248.68
Contractliability 209,529,248.68 209,529,248.68
Payroll 62,549,364.12 62,549,364.12
24 / 27
Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 Third Quarter Report
Tax payable 37,680,953.84 37,680,953.84
Otherpayables 342,239,361.28 342,239,361.28
including:Interestpayable 1,528,201.39 1,528,201.39
Dividendpayable 1,434,027.14 1,434,027.14
Non-current liabilities due within 70,593,717.62 70,593,717.62
one year
Othercurrentliability
Totalcurrentliabilities 2,432,687,335.19 2,432,687,335.19
Non-currentliabilities:
Long-termborrowings 174,330,000.00 174,330,000.00
Long-termpayables 11,025,000.09 11,025,000.09
Deferredincome 31,841,250.00 31,841,250.00
Deferredincometaxliabilities 396,995.58 396,995.58
Total non-currentliabilities 217,593,245.67 217,593,245.67
Total liabilities 2,650,280,580.86 2,650,280,580.86
Owners' equity (or shareholders'
equity):
Paid-upcapital(orsharecapital) 922,304,396.00 922,304,396.00
Capitalreserve 882,723,066.29 882,723,066.29
deduct:Treasurystock 70,688,750.00 70,688,750.00
Othercomprehensiveincome 6,122,835.30 6,122,835.30
Surplusreserves 352,059,456.90 352,059,456.90
Undistributedprofits 3,605,618,553.05 3,605,618,553.05
Total owners’ equity attributable 5,698,139,557.54 5,698,139,557.54
to theparentcompany
Non-controllinginterests 801,351,905.45 801,351,905.45
Totalowners'equity 6,499,491,462.99 6,499,491,462.99
(orshareholders'equity)
Totalliabilitiesandowners' 9,149,772,043.85 9,149,772,043.85
equity(orshareholders'equity)
25 / 27
Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 Third Quarter Report
Balance Sheet of Parent Company
CNY
Item December31,2019 January1,2020 Adjustment
Currentassets:
Monetarycapital 1,039,575,222.99 1,039,575,222.99
Tradingfinancialassets 40,000,000.00 40,000,000.00
Derivativefinancialassets 2,285,934.30 2,285,934.30
Accountsreceivable 13,631,690.45 13,631,690.45
Prepayments 7,560,408.95 7,560,408.95
Otherreceivables 1,020,785,676.46 1,020,785,676.46
including:Interestreceivable
Dividendreceivable 33,977,209.35 33,977,209.35
Inventory 49,839,754.57 49,839,754.57
Totalcurrentassets 2,173,678,687.72 2,173,678,687.72
Non-currentassets:
Long-termequityinvestment 4,117,315,830.10 4,117,315,830.10
Otherequityinstrumentinvestment 5,539,369.92 5,539,369.92
Fixedassets 132,106,337.38 132,106,337.38
Constructioninprogress 5,163,075.76 5,163,075.76
Intangibleassets 15,425,425.33 15,425,425.33
Long-termprepaidexpenses 797,929.30 797,929.30
Deferredincometaxassets 10,699,738.59 10,699,738.59
Totalnon-currentassets 4,287,047,706.38 4,287,047,706.38
Total assets 6,460,726,394.10 6,460,726,394.10
Currentliabilities:
Short-termborrowings 770,000,000.00 770,000,000.00
Accountspayable 34,960,859.00 34,960,859.00
Advancereceipt 5,019,752.33 -5,019,752.33
Contractliability 5,019,752.33 5,019,752.33
Payroll 4,611,910.56 4,611,910.56
Taxpayable 4,624,045.02 4,624,045.02
Otherpayables 1,109,464,926.75 1,109,464,926.75
including:Interestpayable 1,261,159.72 1,261,159.72
Dividendpayable
Non-current liabilities due within one 52,000,000.00 52,000,000.00
year
Othercurrentliability
Totalcurrentliabilities 1,980,681,493.66 1,980,681,493.66
Non-currentliabilities:
Long-termborrowings 174,000,000.00 174,000,000.00
26 / 27
Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2020 Third Quarter Report
Deferredincome 21,520,000.00 21,520,000.00
Deferredincometaxliabilities 8,972.25 8,972.25
Totalnon-currentliabilities 195,528,972.25 195,528,972.25
Totalliabilities 2,176,210,465.91 2,176,210,465.91
Owners'equity
(orshareholders'equity):
Paid-upcapital(orsharecapital) 922,304,396.00 922,304,396.00
Capitalreserve 875,861,339.55 875,861,339.55
deduct:Treasurystock 70,688,750.00 70,688,750.00
Othercomprehensiveincome 5,621,991.32 5,621,991.32
Surplusreserves 352,059,456.90 352,059,456.90
Undistributedprofits 2,199,357,494.42 2,199,357,494.42
Total owners'equity 4,284,515,928.19 4,284,515,928.19
(orshareholders'equity)
Totalliabilitiesandowners'equity 6,460,726,394.10 6,460,726,394.10
(or shareholders'equity)
27 / 27
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