The Third Quarter Report in 2023
Stock Code: 688007 Stock Short Name: Appotronics
Appotronics Corporation Limited
The Third Quarter Report in 2023
The Board of Directors and all the directors of the Company warrant that the
information contained in this Report is free from any misrepresentation, misleading
statement or material omission, and agree to assume the liability for the truth, accuracy and
completeness of this Report according to the law.
Important note:
The Board of Directors, the Board of Supervisors, directors, supervisors and senior officers of the
Company hereby warrant that the information contained in this Quarter Report is true, accurate and
complete and this Report is free from any misrepresentation, misleading statement or major omission, and
agree to assume joint and several liability for this Quarter Report.
The Principal of the Company, Chief Accountant and Person in Charge of the Accounting Body (Chief
Accountants) warrant the information presented in the financial statements in this Quarter Report is true,
accurate and complete.
Whether the third quarter financial statements have been audited
□ Yes √ No
本报告为深圳光峰科技股份有限公司自愿披露的《2023 年第三季度报告（英文版）》，对本
报告的中英文版本理解上发生歧义时，以中文版本为准。
This is the Third Quarter Report in 2023 (English version) voluntarily disclosed by Appotronics
Corporation Limited. In the event of any discrepancy between the English and Chinese versions of this
report, the Chinese version shall prevail.
The Third Quarter Report in 2023
I. Main financial data
Main accounting data and financial indicators
Unit: Yuan Currency: RMB
From the
Change on a beginning of the
During the Change on a
Item year-on-year year to the end
reporting period year-on-year basis (%)
basis (%) of the reporting
period
Operating income 577,380,260.71 -4.80 1,650,629,298.46 -12.00
Net profit attributable to
shareholders of the listed 53,644,544.29 18.19 128,559,185.24 40.72
company
Net profit attributable to
shareholders of the listed
company after deduction of
non-recurring profit or loss
Net cash flow from
N/A N/A 208,932,567.64 1,762.17
operating activities
Basic earnings per share
(RMB/share)
Diluted earnings per share
(RMB/share)
+0.15
Weighted average return on
net assets (%)
points
Total R&D investments 68,441,192.32 15.44 194,847,334.44 11.82
Proportion of R&D +2.07
expenses to operating 11.85 percentage 11.80 +2.51 percentage points
income (%) points
Changes at the end of the
At the end of the
At the end of the prior year reporting period from the
reporting period
end of the prior year (%)
Total assets 4,305,528,862.78 4,333,350,260.15 -0.64
Owners’ equity attributable
to shareholders of the listed 2,830,415,789.01 2,647,663,487.59 6.90
company
The Third Quarter Report in 2023
Note: The term “reporting period” refers to a period of three months from the beginning of this quarter
to the end of this quarter, same as below.
Items and amounts of non-recurring profit or loss
Unit: Yuan Currency: RMB
Amount from the
Amount for
beginning of the Descri
Item the reporting
year to the end of ption
period
the reporting period
Profit or loss from disposal of non-current assets -109,829.18 -325,962.05
Government grants recognized in profit or loss for the current
period (excluding government grants that are closely related to
the business of the Company and are provided in fixed amount 2,385,718.12 35,584,533.69
or quantity continuously according to the applicable polices and
standards of the country)
Profit or loss on entrusted investments or assets management 2,645,606.78 7,844,315.33
Net profit or loss of subsidiaries from the beginning of the
period up to the business combination date recognized as a
result of business combination of enterprises involving
enterprises under common control
Profit or loss on changes in the fair value of held-for-trading
financial assets, derivative financial assets, held-for-trading
financial liabilities and derivative financial liabilities, and
investment income on disposal of held-for-trading financial
assets, derivative financial assets, held-for-trading financial
liabilities, derivative financial liabilities and other debt
investments, other than those used in the effective hedging
activities relating to normal operating business
Reversal of impairment loss on accounts receivable and
contract assets tested for impairment individually
Other non-operating income and expenses 93,546.94 108,027.87
Other gains or losses meeting the definition of non-recurring
profit or loss
Less: Effect of income taxes 716,894.13 4,185,991.02
Effects attributable to minority interests (net of tax) 202,739.87 9,746,615.14
Total 11,376,560.70 52,062,362.04
Description of defining non-recurring profit or loss items illustrated in Information Disclosure and
Presentation Rules for Companies Making Public Offering of Securities No. 1 - Non-recurring Profit or
Loss as recurring profit or loss items
□ Applicable √ N/A
The Third Quarter Report in 2023
Description of and reasons for changes in the main accounting data and financial indicators
√ Applicable □ N/A
Item Change (%) Main reason
Primarily due to changes in the income
Net profit attributable to shareholders of the
structure in the first three quarters, in which the
listed company _ from the beginning of the 40.72
gross profit margin increased by 6.72
year to the end of the reporting period
percentage points.
Net profit attributable to shareholders of the
Primarily due to changes in the income
listed company after deduction of
structure in the first three quarters, in which the
non-recurring profit or loss _ from the 41.20
gross profit margin increased by 6.72
beginning of the year to the end of the
percentage points.
reporting period
Net profit attributable to shareholders of the Primarily due to changes in the income
listed company after deduction of structure during the reporting period, which
non-recurring profit or loss _ the reporting lead to the increase in the gross profit margin
period and decrease in period expenses.
Primarily due to the optimized supply chain
Net cash flow from operating activities _
management, decreased payment for
from the beginning of the year to the end of 1,762.17
procurement, and net recovery of security
the reporting period
deposits during the reporting period.
Primarily due to the increase in net profit
Basic earnings per share _ from the beginning
of the year to the end of the reporting period
company for the first three quarters.
Diluted earnings per share _ from the Primarily due to the increase in net profit
beginning of the year to the end of the 40.00 attributable to shareholders of the listed
reporting period company for the first three quarters.
Analysis of business operation during the reporting period
During the reporting period, the Company continued its focus on the ALPD® semiconductor laser
light source technology and architecture to solidify the long-term development trend of resilient business
and high-quality growth. For the first three quarters of 2023, the Company achieved the operating
income of RMB 1,651 million; the net profit attributable to the parent company of RMB 129 million,
increased by 40.72% year on year; and the overall gross profit margin of the Company was 38.12%, an
increase of 6.72 percentage points year on year; and the net cash flow from operating activities of RMB
development.
In the third quarter of 2023, the Company received more nominations for its business of automotive
The Third Quarter Report in 2023
core components, which continued the release of its technical advantages, and continued optimization
efforts at the request of customers to complete tasks for product development, verification, and delivery.
Thanks to the fully recovery of the film market, the business of cinema core components continued its
strong recovery. The dedicated display business continued the stable development. The household
business, under the circumstance of prudent consumption of the public, experienced a weak
consumption demand on the market, hence becoming the main reason for the pressure on the business
incomes of the Company. The operating highlights of the Company during the reporting period include:
During the reporting period, the Company received the Development Nomination Letter from
Hasco Vision Technology (Shanghai) Co., Ltd., in which the Company has been designated as its
supplier for automotive optics solutions to provide PGU display module products. This indicates a new
breakthrough achieved by the Company in the AR-HUD field to provide consumers with better assisted
driving experience.
In the field of automotive optics, the Company has released multiple solutions for three major
application directions, namely AR-HUD, laser headlights, and automotive display, which achieved stable
operation of the light generators as the core component and the PGU under the high-temperature
working environment of the cockpit while being compatible with freeform surface modeling and wave
guide, hence producing the advantages of smaller size, higher brightness, and greater efficiency.
The Company has insisted on independent innovation and making R&D investments in the business
of automotive core components to maintain its head start advantages in the field of automotive optics
technologies. In the third quarter of 2023, the Company had 22 new patents granted and applications
filed for automotive optics technologies; as of September 30, 2023, we have a total of 191 patents for
automotive optics technologies granted and filed, an increase by 39.41% year on year.
While the high-quality films of diversified subjects shown one after the other met the diversified
demands of audience, the domestic film market became active, especially in the summer holiday of 2023,
which reached a record high box office. Thanks to the film market conditions above, our business of
cinema projection services continued the high-growth trend in the first three quarters of 2023, which
continuously improved our core indicators including the overall profitability, cash flow, etc.
The Third Quarter Report in 2023
Relying on the energy-efficient ALPD® semiconductor laser light source technologies and profound
accumulation in the film industry, we continued our efforts on the domestic cinema market. In the third
quarter of 2023, we achieved the new installation of nearly 500 leased light sources; as of September 30,
China, which continued the high-quality development of the business of cinema projection services.
The Third Quarter Report in 2023
II. Shareholder information
Table of total number of ordinary shareholders and preferred shareholders with resumed voting right as
well as shareholding status of top 10 shareholders
Unit: Share
Total number of
preferred
Total number of ordinary
shareholders with
shareholders as of the end of 14,162 N/A
resumed voting right
the reporting period
during the reporting
period (if any)
Shareholding status of top 10 shareholders
Number of Shares
restricted pledged,
Numb
shares held, marked or
Proportio er of
Number including the frozen
Shareholder n of restric
Shareholder name of shares shares lent
nature sharehold ted
held out under
ing (%) shares Share Qua
the
held status ntity
refinancing
arrangement
Domestic
Shenzhen Appotronics 79,762,6
non-state owned 17.32 0 0 None -
Holdings Limited 79
legal person
Shenzhen Yuanshi Laser Domestic
Industrial Investment non-state owned 5.24 0 0 None -
Consulting Partnership (LP) legal person
Domestic
Nantong Strait Appotronics 22,780,3
non-state owned 4.95 0 0 None -
Investment Partnership (LP) 29
legal person
Domestic
Shenzhen Appotronics Daye 20,430,2
non-state owned 4.44 0 0 None -
Investment Partnership (LP) 50
legal person
Domestic
Shenzhen Appotronics Hongye 15,662,3
non-state owned 3.40 0 0 None -
Investment Partnership (LP) 74
legal person
Domestic
Shenzhen Jinleijing Investment 12,353,1
non-state owned 2.68 0 0 None -
Limited Partnership (LP) 06
legal person
Shenzhen Appotronics Domestic
Chengye Consulting non-state owned 2.26 0 0 None -
Partnership (LP) legal person
The Third Quarter Report in 2023
Bank of China Co., Ltd. - YFD
Stable Income Bond Securities Others 2.25 0 0 None -
Investment Fund
Domestic 7,298,40
LUO Xiaobin 1.59 0 0 None -
natural person 4
Industrial Bank Co., Ltd. -
Tianhong Yongli Bond Others 1.50 0 0 None -
Securities Investment Fund
Shareholding status of top 10 unrestricted shareholders
Quantity of unrestricted outstanding Type and quantity of shares
Shareholder name
shares held Type Quantity
Shenzhen Appotronics RMB-denominated
Holdings Limited ordinary share
Shenzhen Yuanshi Laser
RMB-denominated
Industrial Investment 24,139,500 24,139,500
ordinary share
Consulting Partnership (LP)
Nantong Strait Appotronics RMB-denominated
Investment Partnership (LP) ordinary share
Shenzhen Appotronics Daye RMB-denominated
Investment Partnership (LP) ordinary share
Shenzhen Appotronics Hongye RMB-denominated
Investment Partnership (LP) ordinary share
Shenzhen Jinleijing Investment RMB-denominated
Limited Partnership (LP) ordinary share
Shenzhen Appotronics
RMB-denominated
Chengye Consulting 10,394,846 10,394,846
ordinary share
Partnership (LP)
Bank of China Co., Ltd. - YFD
RMB-denominated
Stable Income Bond Securities 10,376,275 10,376,275
ordinary share
Investment Fund
RMB-denominated
LUO Xiaobin 7,298,404 7,298,404
ordinary share
Industrial Bank Co., Ltd. -
RMB-denominated
Tianhong Yongli Bond 6,926,775 6,926,775
ordinary share
Securities Investment Fund
The Third Quarter Report in 2023
Company constituted person acting in concert: Shenzhen Appotronics Holdings Co.,
Ltd., Shenzhen Yuanshi Laser Industrial Investment Consulting Partnership (LP),
Affiliates or concert parties Shenzhen Appotronics Daye Investment Partnership (LP), Shenzhen Appotronics
among the shareholders stated Hongye Investment Partnership (LP), Shenzhen Jinleijing Investment Limited
above Partnership (LP), and Shenzhen Appotronics Chengye Consulting Partnership (LP).
parties as defined in the Administrative Measures for the Acquisition of the Listed
Companies among other shareholders.
Description of margin trading,
short selling, and refinancing
involving top 10 shareholders N/A
and top 10 holders of
non-restricted shares
III. Other reminders
Other important information related to the Company’s business operation that investors are requested to
pay attention to during the reporting period
√ Applicable □ N/A
During the reporting period, details of petition for invalidation involving the Company are stated as
below:
petitions against the patents held by Delta Electronics, Inc., and China National Intellectual Property
Administration has declared all the patents under the invalidation petitions above invalid.
held by the Company, involving the patent “phosphor layer, component and corresponding light source
and projection system, and corresponding production method” (patent No.: ZL201510420950.4); China
National Intellectual Property Administration has decided that the patent shall be sustained.
IV. Quarter financial statements
(I) Audit opinion
□ Applicable √ N/A
(II) Financial statements
Consolidated Balance Sheet
September 30, 2023
Prepared by: Appotronics Corporation Limited
The Third Quarter Report in 2023
Unit: Yuan Currency: RMB, Unaudited
Item September 30, 2023 December 31, 2022
Current Assets:
Monetary funds 1,324,028,949.45 1,355,882,208.63
Balances with clearing agencies
Placements with banks and other financial
institutions
Held-for-trading financial assets 512,880,000.00 352,880,000.00
Derivative financial assets
Notes receivable 4,878,319.74 2,234,687.77
Accounts receivable 199,038,929.76 208,260,235.79
Receivables financing 5,419,150.00 4,279,041.00
Prepayments 34,389,091.93 48,445,976.86
Premiums receivable
Amounts receivable under reinsurance contracts
Reinsurer’s share of insurance contract reserves
Other receivables 27,004,516.64 26,331,721.55
Including: Interest receivable
Dividend receivable 14,216,004.00 13,789,908.00
Financial assets purchased under resale agreements
Inventories 755,090,295.10 865,639,961.79
Contract assets 1,796,634.65 1,061,581.35
Held-for-sale assets
Non-current assets due within 1 year 38,476,429.79 13,431,554.82
Other current assets 90,695,468.40 106,502,611.79
Total current assets 2,993,697,785.46 2,984,949,581.35
Non-current Assets:
Loans and advances
Debt investments
Other debt investments
Long-term receivables 29,355,813.40 11,524,193.80
Long-term equity investments 149,480,326.31 162,394,917.57
Investment in other equity instruments 7,075,419.38 7,075,419.38
Other non-current financial assets
Investment properties
Fixed assets 354,463,024.21 427,539,718.53
Construction in progress 328,713,619.78 278,978,057.73
Productive biological assets
Oil and gas assets
Right-of-use assets 47,725,408.15 62,255,670.29
Intangible assets 282,850,835.71 290,341,693.08
Development expenditure
The Third Quarter Report in 2023
Goodwill
Long-term prepaid expenses 7,603,183.41 5,990,984.03
Deferred tax assets 84,073,372.27 89,730,936.02
Other non-current assets 20,490,074.70 12,569,088.37
Total non-current assets 1,311,831,077.32 1,348,400,678.80
Total assets 4,305,528,862.78 4,333,350,260.15
Current Liabilities:
Short-term borrowings 90,062,183.34 129,589,634.03
Loans from the central bank
Taking from banks and other financial institutions
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 79,941,708.13 201,299,388.57
Accounts payable 279,193,280.25 276,845,321.28
Receipts in advance 102,001,516.53 113,834,728.10
Contract liabilities 49,214,950.76 37,285,920.43
Financial assets sold under repurchase agreements
Customer deposits and deposits from banks and
other financial institutions
Funds from securities trading agency
Funds from underwriting securities agency
Employee benefits payable 34,961,626.35 58,470,960.55
Taxes payable 9,809,349.51 8,272,768.90
Other payables 49,911,900.09 56,662,357.08
Including: Interest payable
Dividend payable
Fees and commissions payable
Amounts payable under reinsurance contracts
Held-for-sale liabilities
Non-current liabilities due within 1 year 210,494,864.67 178,031,817.37
Other current liabilities 10,597,473.02 28,383,608.37
Total current liabilities 916,188,852.65 1,088,676,504.68
Non-current Liabilities:
Insurance contract reserves
Long-term borrowings 463,601,985.45 403,720,542.45
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities 21,151,932.84 34,319,284.23
Long-term payables
Long-term employee benefits payable
Provisions 58,428,728.62 56,463,882.87
Deferred income 5,629,181.12 8,651,422.26
The Third Quarter Report in 2023
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 548,811,828.03 503,155,131.81
Total liabilities 1,465,000,680.68 1,591,831,636.49
Owners’ Equity (Shareholders’ Equity):
Paid-in capital (or share capital) 460,406,538.00 457,107,538.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 1,602,825,858.58 1,530,752,116.04
Less: Treasury shares 19,377,297.59 19,377,297.59
Other comprehensive income 9,192,476.98 5,736,897.41
Special reserve
Surplus reserve 75,519,782.06 75,519,782.06
General risk reserve
Retained profits 701,848,430.98 597,924,451.67
Total owners’ (or shareholders’) equity attributable
to owners of the parent company
Minority interests 10,112,393.09 93,855,136.07
Total owners’ (or shareholders’) equity 2,840,528,182.10 2,741,518,623.66
Total liabilities and owners’ (or shareholders’)
equity
Principal of the Company: LI Yi Chief Accountant: WANG Yingxia Person in Charge of the
Accounting Body: WANG Yingxia
The Third Quarter Report in 2023
Consolidated Income Statement
January - September 2023
Prepared by: Appotronics Corporation Limited
Unit: Yuan Currency: RMB, Unaudited
The first three The first three
Item quarters in 2023 quarters in 2022
(Jan. - Sep.) (Jan. - Sep.)
I. Total operating income 1,650,629,298.46 1,875,806,319.07
Including: Operating income 1,650,629,298.46 1,875,806,319.07
Interest income
Premiums earned
Fee and commission income
II. Total operating costs 1,542,669,966.99 1,818,361,563.44
Including: Operating costs 1,021,366,808.39 1,286,752,064.01
Interest expenses
Fee and commission expenses
Surrenders
Claims and policyholder benefits (net of amounts
recoverable from reinsurers)
Net withdrawal of insurance contract reserves
Insurance policyholder dividends
Expenses for reinsurance accepted
Taxes and surcharges 5,858,273.15 8,705,987.65
Selling expenses 218,998,049.76 200,257,568.83
Administrative expenses 119,450,993.66 163,525,277.50
R&D expenses 194,847,334.44 174,246,551.26
Financial expenses -17,851,492.41 -15,125,885.81
Including: Interest expense 13,151,617.07 18,844,776.16
Interest income 24,619,974.59 10,707,361.63
Add: Other income 30,947,993.55 27,706,973.61
Investment income (loss is indicated by “-”) -4,775,953.81 13,360.80
Including: Income from investments in associates and
-12,687,269.14 -9,299,223.08
joint ventures
Gains from derecognition of financial assets at
amortized assets
Foreign exchange gains (loss is indicated by “-”)
Gains from net exposure hedges (loss is indicated by
“-”)
Gains from changes in fair values (loss is indicated by
-2,009,000.00
“-”)
Losses of credit impairment (loss is indicated by “-”) -8,626,426.92 3,912,023.56
Impairment losses of assets (loss is indicated by “-”) -37,160,710.01 -27,117,996.54
The Third Quarter Report in 2023
Gains from disposal of assets (loss is indicated by “-”) 67,005.93 123,037.54
III. Operating profit (loss is indicated by “-”) 88,411,240.21 60,073,154.60
Add: Non-operating income 9,564,777.53 501,785.71
Less: Non-operating expenses 849,717.64 2,038,616.70
IV. Total profits (total losses are indicated by “-”) 97,126,300.10 58,536,323.61
Less: Income tax expenses 22,251,378.07 22,417,671.57
V. Net profits (net losses are indicated by “-”) 74,874,922.03 36,118,652.04
(I) Categorized by the continuity of operation
indicated by “-”)
are indicated by “-”)
(II) Categorized by the ownership
company (net losses are indicated by “-”)
-53,684,263.21 -55,237,565.08
(net losses are indicated by “-”)
VI. Other comprehensive income, net of tax 2,177,529.31 19,825,712.36
(I) Other comprehensive income that can be attributable to
owners of the parent company, net of tax
reclassified subsequently to profit or loss
(1) Changes from remeasurement of defined benefit plans
(2) Other comprehensive income that cannot be
reclassified to profit or loss under the equity method
(3) Changes in fair value of investments in other equity
instruments
(4) Changes in fair value of enterprises’ own credit risks
to profit or loss
(1) Other comprehensive income that will be reclassified
-5,564,055.75 -17,884,048.14
to profit or loss under the equity method
(2) Changes in fair value of other debt investments
(3) Amount of financial assets reclassified to other
comprehensive income
(4) Provision for credit impairment of other debt
investments
(5) Reserve for cash flow hedges
(6) Exchange differences on translation of financial
statements denominated in foreign currencies
(7) Others
(II) Other comprehensive income that can be attributable to
-1,278,050.26 -889,252.43
minority shareholders, net of tax
The Third Quarter Report in 2023
VII. Total comprehensive income 77,052,451.34 55,944,364.40
(I) Total comprehensive income that can be attributable to
owners of the parent company
(II) Total comprehensive income that can be attributable to
-54,962,313.47 -56,126,817.51
minority shareholders
VIII. Earnings per share:
(I) Basic earnings per share (RMB/share) 0.28 0.20
(II) Diluted earnings per share (RMB/share) 0.28 0.20
In the event of business combinations involving enterprises under common control, the net profits
realized prior to the combination by the party being absorbed is: RMB 0.00, and the net profits realized
in the last period by the party being absorbed is: RMB 0.00.
Principal of the Company: LI Yi Chief Accountant: WANG Yingxia Person in Charge of the
Accounting Body: WANG Yingxia
The Third Quarter Report in 2023
Consolidated Cash Flow Statement
January - September 2023
Prepared by: Appotronics Corporation Limited
Unit: Yuan Currency: RMB, Unaudited
The first three The first three
Item quarters in 2023 quarters in 2022
(Jan. - Sep.) (Jan. - Sep.)
I. Cash Flows from Operating Activities:
Cash receipts from the sale of goods and the rendering of
services
Net increase in customer deposits and deposits from banks
and other financial institutions
Net increase in loans from the central bank
Net increase in taking from banks and other financial
institutions
Cash receipts from premiums under direct insurance
contracts
Net cash receipts from reinsurance business
Net cash receipts from policyholders’ deposits and
investment contract liabilities
Cash receipts from interest, fees and commissions
Net increase in taking from banks
Net increase in financial assets sold under repurchase
arrangements
Net cash received from securities trading agencies
Receipts of tax refunds 9,099,429.16 5,838,929.38
Other cash receipts relating to operating activities 147,180,568.77 48,236,150.56
Subtotal of cash inflows from operating activities 1,913,845,301.19 2,218,311,259.83
Cash payments for goods purchased and services received 1,011,990,601.62 1,515,632,936.78
Net increase in loans and advances to customers
Net increase in balance with the central bank and due from
banks and other financial institutions
Cash payments for claims and policyholders’ benefits under
direct insurance contracts
Net increase in placements with banks and other financial
institutions
Cash payments for interest, fees and commissions
Cash payments for insurance policyholder dividends
Cash payments to and on behalf of employees 335,781,983.08 323,124,265.49
Payments of various types of taxes 44,740,201.92 73,909,253.09
Other cash payments relating to operating activities 312,399,946.93 294,424,967.06
Subtotal of cash outflows from operating activities 1,704,912,733.55 2,207,091,422.42
The Third Quarter Report in 2023
Net cash flow from operating activities 208,932,567.64 11,219,837.41
II. Cash Flows from Investing Activities:
Cash receipts from disposals and recovery of investments 1,095,997,200.00 1,580,644,186.95
Cash receipts from investment income 7,911,315.33 9,312,583.88
Net cash receipts from disposals of fixed assets, intangible
assets and other long-term assets
Net cash receipts from disposals of subsidiaries and other
business units
Other cash receipts relating to investing activities 8,085,360.00
Subtotal of cash inflows from investing activities 1,104,091,340.33 1,598,044,340.83
Cash payments to acquire or construct fixed assets,
intangible assets and other long-term assets
Cash payments to acquire investments 1,255,816,480.00 1,330,000,000.00
Net increase in pledged loans receivables
Net cash payments for acquisitions of subsidiaries and other
business units
Other cash payments relating to investing activities
Subtotal of cash outflows from investing activities 1,341,036,874.53 1,439,638,548.45
Net cash flows from investment activities -236,945,534.20 158,405,792.38
III. Cash Flows from Financing Activities:
Cash receipts from capital contributions 50,609,959.00 51,233,634.36
Including: Cash receipts from capital contributions from
minority shareholders of subsidiaries
Cash receipts from borrowings 273,665,768.86 346,952,995.19
Other cash receipts relating to financing activities
Subtotal of cash inflows from financing activities 324,275,727.86 398,186,629.55
Cash repayments of borrowings 219,509,994.00 152,403,832.00
Cash payments for distribution of dividends or profits or
settlement of interest expenses
Including: Payments for distribution of dividends or profits
to minority shareholders of subsidiaries
Other cash payments relating to financing activities 25,485,551.97 40,688,919.08
Subtotal of cash outflows from financing activities 302,292,883.67 260,392,677.11
Net cash flows from financing activities 21,982,844.19 137,793,952.44
IV. Effect of Foreign Exchange Rate Changes on Cash and
Cash Equivalents
V. Net Increase in Cash and Cash Equivalents 2,213,303.87 331,229,256.84
Add: Opening balance of cash and cash equivalents 1,254,582,403.12 891,195,166.73
VI. Closing Balance of Cash and Cash Equivalents 1,256,795,706.99 1,222,424,423.57
Principal of the Company: LI Yi Chief Accountant: WANG Yingxia Person in Charge of the
Accounting Body: WANG Yingxia
The Third Quarter Report in 2023
Description of adjustments in opening balances of line items in financial statements of the year due to
initial adoption of new accounting standards or interpretations of standards since 2023
□ Applicable √ N/A
Be it hereby announced.
Board of Directors of Appotronics Corporation Limited
October 25, 2023
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