光峰科技:2021年第一季度报告（英文版）

Stock Code: 688007 Stock Short Name: Appotronics
of
Appotronics Corporation Limited
CONTENT
I. Important Notes ............................................................................................ 3
II. Basic Information ....................................................................................... 3
III. Significant Events ...................................................................................... 8
IV. Annex ........................................................................................................ 13
I. Important Notes
1.1 The Board of Directors the Board of Supervisors directors supervisors and officers of the
Company hereby warrant that the information contained in this Quarterly Report is true accurate
and complete and this Quarterly Report is free from any misrepresentation misleading statement or
material omission and agree to assume joint and several liability for this Quarterly Report.
1.2 All directors of the Company attended the meeting of the Board of Directors for deliberation of this
Quarterly Report.
1.3 BO Lianming Principal of the Company; ZHAO Ruijin the Person in Charge of the Accounting
Body; and LIU Jie the Chief Accountant (the Person in Charge of Accounting) hereby represent
that the financial statements contained in this Quarterly Report are true accurate and complete.
1.4 The Company’s first quarter report has not been audited.
II. Basic Information
2.1 Main financial data
In RMB
At the end of the
reporting period
At the end of the prior year
Changes at the end of the
reporting period from the
end of the prior year (%)
Total assets 3279993185.99 3226204326.69 1.67
Net assets
attributable to
shareholders of
the listed
company
2147767338.89 2091599671.75 2.69
From the beginning of
the year to the end of
the reporting period
From the beginning of the
prior year to the end of the
reporting period of the
prior year
Changes over the same
period of the prior year (%)
Net cash flow
from operating
activities
106223261.88 -38289185.55
N/A
From the beginning of
the year to the end of
the reporting period
From the beginning of the
prior year to the end of the
reporting period of the
Changes over the same
period of the prior year (%)
prior year
Operating
income
524967989.26 306900748.84 71.05
Net profits
attributable to
shareholders of
the listed
company
54409294.00 13322216.29 308.41
Net profits
attributable to
shareholders of
the listed
company after
deduction of
non-recurring
profits or losses
36659661.66 -7989708.14 N/A
Weighted
average return on
net assets (%)
2.57 0.67 + 1.9 percentage points
Basic earnings
per share
(RMB/share)
0.12 0.03 300
Diluted earnings
per share
(RMB/share)
0.12 0.03 300
Proportion of
R&D
investments to
the operating
income (%)
8.49 14.26 - 5.77 percentage points
Items and amounts of non-recurring profit or loss
√Applicable □ N/A
In RMB
Item Amount of the current period Description
Profit or loss on disposal of non-current
assets
2150156.10 It primarily refers to
income from disposal of
fixed assets.Government grants recognized in profit
or loss other than grants which are
closely related to the Company’s
business and are either in fixed amounts
or determined under quantitative methods
12383017.60 The government grants
primarily represent those
recognized in profit or loss
for the current period
including government
in accordance with the national standard grants received in the
current period and those
previously received but
recognized in the current
period for amortization.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 entities under common control
935879.46
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
5910827.61 It refers to the realized part
of unrealized profits and
losses from transactions
prior to business
combination involving
entities under common
control.Other non-operating income or expenses
other than the above
427924.61
Effects attributable to minority interests
(net of tax)
-1271520.26
Income tax effects -2786652.78
Total 17749632.34
2.2 Total number of shareholders and the shareholding of top ten shareholders and top ten unrestricted
shareholders as of the end of reporting period
In Shares
Total number of shareholders (account) 13653
The shareholding of top ten shareholders
Shareholder name
(full name)
Number of
shares held
at the end of
Proport
ion (%)
Number of
restricted
shares held
Number of
restricted
shares
If being
pledged or
frozen
Nature of
shareholde
rs
the period including
shares
leased out
for
refinancing
business
Share
status
Share
number
Shenzhen
Appotronics
Holdings Limited
79762679 17.62 79762679 79762679 No 0
Non-state-
owned
corporation
in China
SAIF IV Hong
Kong (China
Investments)
Limited
42522842 9.39 0 0 No 0
Oversea
corporation
CITIC PE
Investment (Hong
Kong) 2016
Limited
36413032 8.04 0 0 No 0
Oversea
corporation
Nantong Strait
Appotronics
Investment
Partnership (LP)
25064737 5.54 0 0 No 0
Non-state-
owned
corporation
in China
Shenzhen Yuanshi
Laser Industrial
Investment
Consulting
Partnership (LP)
24139500 5.33 24139500 24139500 No 0
Non-state-
owned
corporation
in China
Shenzhen
Appotronics Daye
Investment
Partnership (LP)
20430250 4.51 20430250 20430250 No 0
Non-state-
owned
corporation
in China
GREEN FUTURE
HOLDINGS
LIMITED
16504518 3.65 0 0 No 0
Oversea
corporation
Shenzhen
Appotronics
Hongye Investment
Partnership (LP)
15662374 3.46 15662374 15662374 No 0
Non-state-
owned
corporation
in China
Shenzhen Jinleijing
Investment Limited
Partnership (LP)
12353106 2.73 12353106 12353106 No 0
Non-state-
owned
corporation
in China
Shenzhen
Guochuang
Chenggu Asset
Investment Co.Ltd.-Shenzhen
Chengguhui Equity
Investment
Partnership (LP)
10443640 2.31 0 0 No 0
Non-state-
owned
corporation
in China
The shareholding of top ten shareholders of non-restricted shares
Shareholder name Number of unrestricted
circulating shares
Category and number of shares
Category Number
SAIF IV Hong Kong (China
Investments) Limited
42522842
RMB ordinary
shares
42522842
CITIC PE Investment (Hong
Kong) 2016 Limited
36413032
RMB ordinary
shares
36413032
Nantong Strait Appotronics
Investment Partnership (LP)
25064737
RMB ordinary
shares
25064737
GREEN FUTURE HOLDINGS
LIMITED
16504518
RMB ordinary
shares
16504518
Shenzhen Guochuang Chenggu
Asset Investment Co.
Ltd.-Shenzhen Chengguhui Equity
Investment Partnership (LP)
10443640
RMB ordinary
shares
10443640
China Merchants Bank
-ChinaAMC SSE STAR 50
Exchange Traded Funds
7269521
RMB ordinary
shares
7269521
SMART TEAM INVESTMENT
LIMITED
6799660
RMB ordinary
shares
6799660
CAI Kunliang 6096243
RMB ordinary
shares
6096243
Shenzhen Liansong Capital
Management Limited Partnership
(LP)
5833817
RMB ordinary
shares
5833817
ICBC-AXA Life Insurance Co.
Ltd.- Tradition 2
5497569
RMB ordinary
shares
5497569
Description of the related-party
relationship or concerted actions
among aforementioned
shareholders
1.As of March 312021 the Company has received no statement from
aforementioned shareholders to confirm there is a related-party
relationship or concerted action except the concerted action among
Shenzhen Appotronics Holdings Limited Shenzhen Yuanshi Laser
Industrial Investment Consulting Partnership (LP) Shenzhen
Appotronics Daye Investment Partnership (LP) Shenzhen
Appotronics Hongye Investment Partnership (LP) and Shenzhen
Jinleijing Investment Limited Partnership (LP).
2. The Company is unaware that whether there is a related-party
relationship among circulating shareholders or whether they are
persons acting in concert as stipulated in the Measures for the
Administration of the Takeover of Listed Companies.
Description on preferred
shareholders of voting power
recovered and shareholding
numbers
N/A
2.3 Total number of preferred shareholders and the shareholding of top ten preferred shareholders and
top ten unrestricted preferred shareholders as of the end of reporting period
□ Applicable √ N/A
III. Significant Events
3.1 Significant changes in the Company’s main accounting line items and financial highlights and
reasons thereof
√Applicable ? N/A
1. Changes in line items of the balance sheet and reasons thereof
In RMB
Item
March 31 2021 December 31
2020
Proportion of
change (%)
Reason for change
Accounts
receivable
188974088.57 341660832.43 -44.69% Primarily due to recovery of
the opening balance of
accounts receivable during the
reporting period
Receivable
s financing
2024508.81 11959000.00 -83.07% Primarily due to the acceptance
of matured bank acceptance
bills during the reporting
period
Contract
assets
2551858.10 3744655.50 -31.85% Primarily due to collection of
contract assets due in the
reporting period
Other
current
assets
33190142.08 13002195.46 155.27% Primarily due to the increase in
VAT input tax to be deducted
during the reporting period
Right of
use assets
36626275.79 N/A Primarily due to the
implementation of the new
lease standard for the first time
Other
non-curren
t assets
13905509.02 6299781.06 120.73% Primarily due to the increase in
prepayments for the acquisition
of fixed assets and intangible
assets
Notes
payable
153941489.46 116822674.67 31.77% Primarily due to the increase in
payment for goods by issuing
banker acceptances during the
reporting period
Employee
benefits
payable
20446582.80 46105566.15 -55.65% Primarily due to the payment
of year-end bonus for 2020
during the reporting period
Other
payables
20202835.30 59848053.83 -66.24% Primarily due to the return of
loans to minority shareholders
and the payment for the
purchase of remaining equity
interests by the subsidiaries
during the reporting period
Lease
liabilities
39833277.93 N/A Primarily due to the
implementation of the new
lease standard for the first time
2. Changes in line items of the income statement and reasons thereof
In RMB
Item For the period
from January 1
2021 to March
31 2021
For the period
from January 1
2020 to March
31 2020
Proportion
of change
(%)
Reason for change
Other income
524967989.26 306900748.84 71.05% Primarily due to the increase in
operating costs as a result of the
increase in operating income
Other cost
352723171.26 205113820.04 71.96% Primarily due to the increase in VAT
payable during the reporting period
Taxes and
levies
2289691.36 848964.73 169.70% Primarily due to the increase in
marketing promotion expenses as a
result of the control over COVID-19
during the reporting period
Selling
expenses
36732891.97 24522520.30 49.79% Primarily due to the increase in
interest income during the reporting
period
Financial
expenses
25761.46 3640120.46 -99.29% Primarily due to the decreased
income from wealth management
products recognized during the
reporting period
Investment
income
4546382.37 6951747.26 -34.60% Primarily due to the decreased
income from wealth management
products recognized during the
reporting period
Impairment
losses of assets
7707743.19 3178689.54 142.48% Primarily due to the reversal of
provision for bad debts as a result of
receipts of more accounts receivable
during the reporting period
Losses of asset
impairment
-1714867.75 -4230773.80 -59.47% Primarily due to the decrease in
provision for decline in value of
inventories during the reporting
period
Income tax
expenses
20220441.99 6583959.00 207.12% Primarily due to the increase in total
profits during the reporting period
3. Changes in line items of the cash flow statement and reasons thereof
In RMB
Item
For the period
from January 1
2021 to March
31 2021
For the period
from January 1
2020 to March
31 2020
Proportion
of change
(%)
Reason for change
Net cash flow
from operating
activities
106223261.88 -38289185.55 N/A Primarily due to the increase in
collections from increased operating
income
Net cash flow
from investing
activities
-47374910.78 56240044.30 -184.24% Primarily due to the payment for
purchase of wealth management
products and remaining remaining
equity interests
Net cash flow
from financing
activities
-32061477.75 -53008882.64 N/A Primarily due to the new borrowings
and capital contributions to newly
established subsidiaries as a
shareholder during the reporting
period
3.2 Description of analysis on progresses of significant events and their influences and solutions
√Applicable □ N/A
(I) Litigation
1. Civil litigation and arbitration cases where the Company acted as a defendant
As of the disclosure date of the report there have been 7 civil litigation cases where the Company was a
defendant with details as below:
2.Civil litigation and arbitration cases where the Company acted as a plaintiff
Effect of
foreign
exchange rate
changes on
cash and cash
equivalents
670024.42 419408.45 59.75%
Primarily due to exchange profit or
loss and the exchange differences on
translation of financial statements
denominated in foreign currencies
Net increase in
cash and cash
equivalents
27456897.77 -34638615.44 N/A Primarily due to the comprehensive
effects on changes in each line item
above of the cash flow statement
Case No.
Cause of
action
Plaintiff Defendant/Appellee Patents involved
Amount
involved
Progress
(2019) Yue 73
Zhi Min Chu
No.662
Infringement
of patent rights
of inventions
Delta
Electronics
Inc.
Appotronics
Corporation Limited;
Shenzhen Futian
Suopuni Projection
Video System
Commercial Firm
ZL201610387831.8
RMB
16145300
Suspension
of hearing
(2019) Yue 73
Zhi Min Chu
No.663
ZL201310017478.0
RMB
16145300
First
instance
completed
(2019) Yue 73
Zhi Min Chu
No.664
ZL20310625063.1
RMB
16145300
Second
instance
pending
(2019) Jing 73
Min Chu
No.1275
Infringemen
t of patent
rights of
inventions
Delta
Electronics
Inc.
Fengmi (Beijing)
Technology Co.Ltd.; Appotronics
Corporation Limited
ZL201610387831.8
RMB
16010000
First
instance
pending
(2019) Jing 73
Min Chu
No.1276
ZL201410249663.7
RMB
16010000
First
instance
pending
(2019) Jing 73
Min Chu
No.1277
ZL201310017478.0
RMB
16010000
Second
instance
pending
(2019) Jing 73
Min Chu
No.1278
ZL201010624724.5
RMB
16010000
First
instance
pending
As of the disclosure date of the report there have been 22 civil litigation cases where the Company
acted as a plaintiff. In these cases 20 cases were caused by infringement of invention patents with
relevant claims as follows: requiring the defendant to stop infringing the Company’s patents for
invention and destroy the equipment and mold etc. used to produce the infringed products; requiring the
defendant to compensate the plaintiff with economic losses and reasonable expenses incurred for
stopping the infringement and to bear the joint and several liability. No other credit and debt disputes
were involved. And 2 cases were brought for correcting the inventors of the patents with relevant claims
of correcting LI Yi and HU Fei as the inventors of the US Patent No. 9024241 and the China Patent No.
ZL201610387831.8. in which the Company is the owner of these patents.
3. Progress on cases
(1) As of the disclosure date of the report the Company has received 5 Civil Judgements decided
by the Shenzhen Intermediate People’s Court in the first instance (Case No.: (2019) Yue 03 Min Chu No.
2943 2944 2946 2948 and 2951) holding that the defendants Delta Electronics Enterprise
Management (Shanghai) Co. Ltd. and Delta Electronics (Jiangsu) Co. Limited immediately stop
infringing the Company’s patents for invention and jointly and severally indemnify the plaintiff
Appotronics Corporation Limited a compensation of RMB 1651997.
(2) The Company entered a nolle prosequi in respect of 6 cases against Delta Company (Case No.
(2019) Yue 03 Min Chu No. 2942 2945 2947 2949 2950 and 4309). During the reporting period the
Company has received the Judgement from the court for withdrawal of cases.
(II) Invalidation plea
As of the disclosure date of the report all invalidation plea cases where the Company acted as a
patentee have been closed by the China National Intellectual Property Administration with a decision to
maintain the validity of the patent right or withdrawn by the petitioner at their own discretion; and there
has been only 1 invalidation plea case where the Company acted as a petitioner being sub judice by the
China National Intellectual Property Administration which is related to the invalidation plea against
patents held by Delta Electronics Inc.
3.3 Commitments failed in completion as scheduled during the reporting period
□ Applicable √ N/A
3.4 Warning of the estimate that the accumulated net profits from the beginning of the year to the end
of the next reporting period will be negative or will change significantly comparing with the same
period of the previous year and description of reasons
□Applicable √ N/A
Company name Appotronics Corporation Limited
Legal Representative BO Lianming
Date April 24 2021
IV. Annex
4.1 Financial statements
Consolidated Balance Sheet
March 31 2021
Prepared by: Appotronics Corporation Limited
In RMB Unaudited
Item March 31 2021 December 31 2020
Current Assets:
Cash and bank balances 1064372349.54 1037760573.27
Balances with clearing agencies
Placements with banks and other financial
institutions
Held-for-trading financial assets 114000000.00 114000000.00
Derivative financial assets
Notes receivable 2983038.68 3726328.91
Accounts receivable 188974088.57 341660832.43
Receivables financing 2024508.81 11959000.00
Prepayments 57515174.21 47447601.43
Premiums receivable
Amounts receivable under reinsurance
contracts
Reinsurer’s share of insurance contract
reserves
Other receivables 9273387.64 12534062.15
Including: Interest receivable
Dividends receivable
Financial assets purchased under resale
agreements
Inventories 532336267.79 418812140.80
Contract assets 2551858.10 3744655.50
Held-for-sale assets
Non-current assets due within one year
Other current assets 33190142.08 13002195.46
Total Current Assets 2007220815.42 2004647389.95
Non-current Assets:
Loans and advances
Debt investments
Other debt investments
Long-term receivables 13346016.87 13196087.78
Long-term equity investments 264994418.30 262744772.48
Other equity instrument investments 11975419.38 11975419.38
Other non-current financial assets
Investment properties
Fixed assets 446885174.58 447571328.91
Construction in progress 61210351.60 51576850.72
Bearer biological assets
Oil and gas assets
Right-of-use assets 36626275.79
Intangible assets 316962854.87 320488235.60
Development expenditure
Goodwill
Long-term prepaid expenses 9834264.47 11572346.79
Deferred tax assets 97032085.69 96132114.02
Other non-current assets 13905509.02 6299781.06
Total Non-current Assets 1272772370.57 1221556936.74
Total assets 3279993185.99 3226204326.69
Current Liabilities:
Short-term borrowings 83264853.23 88778852.86
Loans from the central bank
Taking from banks and other financial
institutions
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 153941489.46 116822674.67
Accounts payable 231375227.23 226494815.90
Receipts in advance 146692470.96 153258189.88
Contract liabilities 33124732.32 31518312.59
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 20446582.80 46105566.15
Taxes payable 20790402.18 19871846.94
Other payables 20202835.30 59848053.83
Including: Interest payable
Dividends payable
Fees and commissions payable
Amounts payable under reinsurance
contracts
Held-for-sale liabilities
Non-current liabilities due within one
year
148102629.59 181417412.46
Other current liabilities 2738580.06 3045831.07
Total Current Liabilities 860679803.13 927161556.35
Non-current Liabilities:
Insurance contract reserves
Long-term borrowings 77559805.75 64845281.53
Bonds payable
Including: Preferred shares
Perpetual bonds
Leasing liabilities 39833277.93
Long-term payables 3285650.00 3262450.00
Long-term employee benefits payable
Provisions 29743263.71 28799354.65
Deferred income 16762859.17 16723257.15
Deferred tax liabilities
Other non-current liabilities
Total Non-current Liabilities 167184856.56 113630343.33
Total Liabilities 1027864659.69 1040791899.68
Owners’ (or Shareholders’) equity:
Paid-in capital (or share capital) 452756901.00 452756901.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 1251753237.13 1249020991.15
Less: Treasury shares
Other comprehensive income -4232435.10 -3214291.93
Special reserve
Surplus reserve 35242179.57 35242179.57
General risk reserve
Retained profits 412247456.29 357793891.96
Total Owners’(or Shareholders’) Equity
Attributable to Owners of the Parent
Company
2147767338.89 2091599671.75
Minority interests 104361187.41 93812755.26
Total Owners’ (or Shareholders’)
Equity
2252128526.30 2185412427.01
Total Liabilities and Owners’ (or
Shareholders’) Equity
3279993185.99 3226204326.69
Legal Representative: Person in Charge of the Accounting Body: Chief Accountant:
BO Lianming ZHAO Ruijin LIU Jie
Balance Sheet of the Parent Company
March 31 2021
Prepared by: Appotronics Corporation Limited
In RMB Unaudited
Item March 31 2021 December 31 2020
Current Assets:
Cash and bank balances 762221931.62 709932686.71
Held-for-trading financial assets 114000000.00 114000000.00
Derivative financial assets
Notes receivable 2044438.68 2314628.91
Accounts receivable 548070417.35 567539506.79
Receivables financing 1564508.81 100000.00
Prepayments 11271295.91 11001439.23
Other receivables 38701360.98 71654117.57
Including: Interest receivable
Dividends receivable
Inventories 201672779.50 169022971.44
Contract assets 2527363.10 3720160.50
Held-for-sale assets
Non-current assets due within one
year
Other current assets 5615966.70 1297388.01
Total Current Assets 1687690062.65 1650582899.16
Non-current Assets:
Debt investments
Other debt investments
Long-term receivables 13346016.87 13196087.78
Long-term equity investments 429504292.59 421648284.99
Other equity instrument
investments
7075419.38 7075419.38
Other non-current financial assets
Investment properties
Fixed assets 55118118.21 57409189.33
Construction in progress 48809198.03 37982329.74
Bearer biological assets
Oil and gas assets
Right-of-use assets 26691714.81
Intangible assets 316061047.33 319438893.42
Development expenditure
Goodwill
Long-term prepaid expenses 8275720.51 9562162.36
Deferred tax assets 7634208.87 6680188.67
Other non-current assets 8395908.82 5411561.28
Total Non-current Assets 920911645.42 878404116.95
Total assets 2608601708.07 2528987016.11
Current Liabilities:
Short-term borrowings 11536776.87 11410560.27
Held-for-trading financial
liabilities
Derivative financial liabilities
Notes payable 32786074.03 32313678.21
Accounts payable 215115270.39 210885240.65
Receipts in advance 2729498.87 2688210.54
Contract liabilities 20173585.14 20609190.34
Employee benefits payable 12291006.80 28514763.09
Taxes payable 9749372.53 5830858.89
Other payables 38492286.58 23058804.83
Including: Interest payable
Dividends payable
Held-for-sale liabilities
Non-current liabilities due within
one year
1000931.51 1001024.66
Other current liabilities 1362729.94 1918391.60
Total Current Liabilities 345237532.66 338230723.08
Non-current Liabilities:
Long-term borrowings 29027013.70 29029715.07
Bonds payable
Including: Preferred shares
Perpetual bonds
Leasing liabilities 28714490.82
Long-term payables 3285650.00 3262450.00
Long-term employee benefits
payable
Provisions 17309231.09 16345891.60
Deferred income 14663632.78 14450411.10
Deferred tax liabilities
Other non-current liabilities
Total Non-current Liabilities 93000018.39 63088467.77
Total Liabilities 438237551.05 401319190.85
Owners’ (or Shareholders’)
equity:
Paid-in capital (or share capital) 452756901.00 452756901.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 1354543757.17 1351261718.84
Less: Treasury shares
Other comprehensive income
Special reserve
Surplus reserve 33964638.84 33964638.84
Retained profits 329098860.01 289684566.58
Total Owners’ (or
Shareholders’) Equity
2170364157.02 2127667825.26
Total Liabilities and
Owners’ (or Shareholders’) Equity
2608601708.07 2528987016.11
Legal Representative: Person in Charge of the Accounting Body: Chief Accountant:
BO Lianming ZHAO Ruijin LIU Jie
Consolidated Income Statement
For the period from January 1 2021 to March 31 2021
Prepared by: Appotronics Corporation Limited
In RMB Unaudited
Item
The First Quarter in
2021
The First Quarter in
2020
I. Total operating income 524967989.26 306900748.84
Including: Operating income 524967989.26 306900748.84
Interest income
Premiums earned
Fee and commission income
II. Total operating costs 468379392.92 312526014.17
Including: Operating costs 352723171.28 205113820.04
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 levies 2289691.36 848964.73
Selling expenses 36732891.97 24522520.30
Administrative expenses 32052318.68 34641364.44
R&D expenses 44555558.17 43759224.20
Financial expenses 25761.46 3640120.46
Including: Interest expense 5017702.98 5974996.52
Interest income 5330089.31 2452836.80
Add: other income 14353842.94 13967683.29
Investment income (loss is indicated
by “-”)
4546382.37 6951747.26
Including: Income from investments
in associates and joint ventures
3610502.91 719638.49
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 “-”)
Losses of credit impairment (loss is
indicated by “-”)
7707743.19 3178689.54
Impairment losses of assets (loss is
indicated by “-”)
-1714867.75 -4230773.80
Gains from disposal of assets (loss is
indicated by “-”)
2806103.11 0.00
III. Operating profit (loss is indicated by “-”) 84287800.20 14242080.96
Add: Non-operating income 438003.45 17320.21
Less: Non-operating expenses 74302.34 375729.00
IV. Total profits (total losses are indicated
by “-”)
84651501.31 13883672.17
Less: Income tax expenses 20220441.99 6583959.00
V. Net profits (net losses are indicated by
“-”)
64431059.32 7299713.17
(I) Categorized by the continuity of operation
1. Net profits from continuing
operations (net losses are indicated by “-”)
64431059.32 7299713.17
2. Net profits from discontinued
operations (net losses are indicated by “-”)
(II) Categorized by the ownership
1.Net profits attributable to
shareholders of the Parent Company (net
losses are indicated by “-”)
54409294.00 13322216.29
2. Profits or losses attributable to
minority shareholders (net losses are
10021765.32 -6022503.12
indicated by “-”)
VI. Other comprehensive income net of tax -1030020.03 3832339.57
(I) Other comprehensive income that can
be attributable to owners of the Parent
Company net of tax
-1018143.17 3797318.81
1. Other comprehensive income that
cannot be 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
2.Other comprehensive income that
will be reclassified to profit or loss
-1018143.17 3797318.81
(1) Other comprehensive income that will
be reclassified 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
-1018143.17 3797318.81
(7) Others
(II) Other comprehensive income that can
be attributable to minority shareholders net
of tax
-11876.86 35020.76
VII. Total comprehensive income 63401039.29 11132052.74
(I) Total comprehensive income that can
be attributable to owners of the Parent
Company
53391150.83 17119535.10
(II) Total comprehensive income that can
be attributable to minority shareholders
10009888.46 -5987482.36
VIII. Earnings per share:
(I) Basic earnings per share (RMB/share) 0.12 0.03
(II) Diluted earnings per share (RMB/share) 0.12 0.03
Legal Representative: Person in Charge of the Accounting Body: Chief Accountant:
BO Lianming ZHAO Ruijin LIU Jie
Income Statement of the Parent Company
For the period from January 1 2021 to March 31 2021
Prepared by: Appotronics Corporation Limited
In RMB Unaudited
Item
The First Quarter in
2021
The First Quarter in
2020
I. Operating income 247193016.87 149314735.41
Less: Operating costs 165891742.11 95623590.51
Taxes and levies 1637131.20 414212.02
Selling expenses 15615494.24 14007454.17
Administrative expenses 19551600.41 24524700.83
R&D expenses 21644886.28 25612027.29
Financial expenses -7184764.59 -3569835.96
Including: Interest expense 645266.97 13174.14
Interest income 7907864.77 3279548.30
Add: other income 9813752.75 11797618.37
Investment income (loss is indicated by
“-”)
6993373.94 6232108.77
Including: Income from investments in
associates and joint ventures
Gains from derecognition of
financial assets at amortized assets
Gains from net exposure hedges (loss is
indicated by “-”)
Gains from changes in fair values (loss
is indicated by “-”)
Losses of credit impairment (loss is
indicated by “-”)
-497968.57 175684.06
Impairment losses of assets (loss is
indicated by “-”)
-786039.04 -3221027.46
Gains from disposal of assets (loss is
indicated by “-”)
II. Operating profit (loss is indicated by “-”) 45560046.30 7686970.29
Add: Non-operating income 409000.36 17318.89
Less: Non-operating expenses 63863.17 14740.59
III. Total profits (total losses are indicated by
“-”)
45905183.49 7689548.59
Less: Income tax expenses 6840127.78 4080448.28
VI. Net profits (net losses are indicated by “-”) 39065055.71 3609100.31
(I) Net profits from continuing operations
(net losses are indicated by “-”)
39065055.71 3609100.31
(II) Net profits from discontinued operations
(net losses are indicated by “-”)
V. Other comprehensive income net of tax
(I) Other comprehensive income that cannot
be 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
(II) Other comprehensive income that will be
reclassified to profit or loss
1. Other comprehensive income that will
be reclassified 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
VI. Total comprehensive income 39065055.71 3609100.31
VII. Earnings per share:
(I) Basic earnings per share (RMB/share)
(II) Diluted earnings per share (RMB/share)
Legal Representative: Person in Charge of the Accounting Body: Chief Accountant:
BO Lianming ZHAO Ruijin LIU Jie
Consolidated Cash Flow Statement
For the period from January 1 2021 to March 31 2021
Prepared by: Appotronics Corporation Limited
In RMB Unaudited
Item
The First Quarter in 2021 The First Quarter in 2020
I. Cash Flows from Operating
Activities:
Cash receipts from the sale of goods
and the rendering of services
747962281.72 397384359.17
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 975787.81 2267811.01
Other cash receipts relating to
operating activities
35073661.68 34991984.03
Sub-total of cash inflows from
operating activities
784011731.21 434644154.21
Cash payments for goods purchased
and services received
498775867.34 298323599.64
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
96357835.55 99940689.15
Payments of various types of taxes 22526122.46 35918878.89
Other cash payments relating to
operating activities
60128643.98 38750172.08
Sub-total of cash outflows from
operating activities
677788469.33 472933339.76
Net cash flow from operating
activities
106223261.88 -38289185.55
II. Cash Flows from Investing
Activities:
Cash receipts from disposals and
recovery of investments
114000000.00 540000000.00
Cash receipts from investment income 935882.46 6232108.77
Net cash receipts from disposals of
fixed assets intangible assets and other
long-term assets
2281.47
Net cash receipts from disposals of
subsidiaries and other business units
Other cash receipts relating to
investing activities
Sub-total of cash inflows from
investing activities
114935882.46 546234390.24
Cash payments to acquire or construct
fixed assets intangible assets and other
long-term assets
14262405.92 4994345.94
Cash payments to acquire investments 148048387.32 485000000.00
Net increase in pledged loans
receivables
Net cash payments for acquisitions of
subsidiaries and other business units
Other cash payments relating to
investing activities
Sub-total of cash outflows from
investing activities
162310793.24 489994345.94
Net cash flow from investing
activities
-47374910.78 56240044.30
III. Cash Flows from Financing
Activities:
Cash receipts from capital
contributions
22500000.00
Including: cash receipts from capital
contributions from minority
shareholders of subsidiaries
Cash receipts from borrowings 61489331.60 31049660.15
Other cash receipts relating to
financing activities
Sub-total of cash inflows from
financing activities
83989331.60 31049660.15
Cash repayments of borrowings 87595777.45 77790695.10
Cash payments for distribution of
dividends or profits or settlement of
interest expenses
4677974.98 6267847.69
Including: payments for distribution
of dividends or profits to minority
shareholders of subsidiaries
Other cash payments relating to
financing activities
23777056.92
Sub-total of cash outflows from
financing activities
116050809.35 84058542.79
Net cash flow from financing
activities
-32061477.75 -53008882.64
IV. Effect of Foreign Exchange Rate
Changes on Cash and Cash
Equivalents
670024.42 419408.45
V. Net Increase in Cash and Cash
Equivalents
27456897.77 -34638615.44
Add: Opening balance of cash and
cash equivalents
983525089.44 829789487.86
VI. Closing Balance of Cash and Cash
Equivalents
1010981987.21 795150872.42
Legal Representative: Person in Charge of the Accounting Body: Chief Accountant:
BO Lianming ZHAO Ruijin LIU Jie
Cash Flow Statement of the Parent Company
For the period from January 1 2021 to March 31 2021
Prepared by: Appotronics Corporation Limited
In RMB Unaudited
Item
The First Quarter in 2021 The First Quarter in 2020
I. Cash Flows from Operating
Activities:
Cash receipts from the sale of goods
and the rendering of services
313008619.07 175632699.35
Receipts of tax refunds 226499.93 1258598.52
Other cash receipts relating to
operating activities
84336914.41 69010030.52
Sub-total of cash inflows from
operating activities
397572033.41 245901328.39
Cash payments for goods purchased
and services received
224490459.68 148745453.42
Cash payments to and on behalf of
employees
56702483.19 58149160.99
Payments of various types of taxes 16254097.23 2326794.97
Other cash payments relating to
operating activities
23852409.59 59079296.15
Sub-total of cash outflows from
operating activities
321299449.69 268300705.53
Net cash flow from operating
activities
76272583.72 -22399377.14
II. Cash Flows from Investing
Activities:
Cash receipts from disposals and
recovery of investments
141500000.00 540000000.00
Cash receipts from investment income 935882.46 6232108.77
Net cash receipts from disposals of
fixed assets intangible assets and other
long-term assets
- 2281.47
Net cash receipts from disposals of
subsidiaries and other business units
-
Other cash receipts relating to
investing activities
-
Sub-total of cash inflows from
investing activities
142435882.46 546234390.24
Cash payments to acquire or construct
fixed assets intangible assets and other
6947304.17 3965789.67
long-term assets
Cash payments to acquire investments 152932903.47 616213540.00
Net cash payments for acquisitions of
subsidiaries and other business units
-
Other cash payments relating to
investing activities
-
Sub-total of cash outflows from
investing activities
159880207.64 620179329.67
Net cash flow from investing
activities
-17444325.18 -73944939.43
III. Cash Flows from Financing
Activities:
Cash receipts from capital
contributions
Cash receipts from borrowings 20000000.00
Other cash receipts relating to
financing activities
Sub-total of cash inflows from
financing activities
20000000.00
Cash repayments of borrowings 10000000.00
Cash payments for distribution of
dividends or profits or settlement of
interest expenses
257833.33 230912.50
Other cash payments relating to
financing activities
4153690.92
Sub-total of cash outflows from
financing activities
4411524.25 10230912.50
Net cash flow from financing
activities
-4411524.25 9769087.50
IV. Effect of Foreign Exchange Rate
Changes on Cash and Cash
Equivalents
123744.92 -327571.48
V. Net Increase in Cash and Cash
Equivalents
54540479.21 -86902800.55
Add: Opening balance of cash and
cash equivalents
666628105.82 524648100.62
VI. Closing Balance of Cash and Cash
Equivalents
721168585.03 437745300.07
Legal Representative: Person in Charge of the Accounting Body: Chief Accountant:
BO Lianming ZHAO Ruijin LIU Jie
4.2 Description of adjustments in opening balances of line items in financial statements of the year due
to the implementation of new revenue standard and new lease standard since 2021
√Applicable ? N/A
Consolidated Balance Sheet
In RMB
Item
December 31
2020
January 1 2021 Adjusted amount
Current Assets:
Cash and bank balances 1037760573.27 1037760573.27
Balances with clearing agencies
Placements with banks and
other financial institutions
Held-for-trading financial assets 114000000.00 114000000.00
Derivative financial assets
Notes receivable 3726328.91 3726328.91
Accounts receivable 341660832.43 341660832.43
Receivables financing 11959000.00 11959000.00
Prepayments 47447601.43 49174631.52 1727030.09
Premiums receivable
Amounts receivable under
reinsurance contracts
Reinsurer’s share of insurance
contract reserves
Other receivables 12534062.15 12534062.15
Including: Interest receivable
Dividends receivable
Financial assets purchased
under resale agreements
Inventories 418812140.80 418812140.80
Contract assets 3744655.50 3744655.50
Held-for-sale assets
Non-current assets due within
one year
Other current assets 13002195.46 13002195.46
Total Current Assets 2004647389.95 2006374420.04 1727030.09
Non-current Assets:
Loans and advances
Debt investments
Other debt investments
Long-term receivables 13196087.78 13196087.78
Long-term equity investments 262744772.48 262744772.48
Other equity instrument
investments
11975419.38 11975419.38
Other non-current financial
assets
Investment properties
Fixed assets 447571328.91 447571328.91
Construction in progress 51576850.72 51576850.72
Bearer biological assets
Oil and gas assets
Right-of-use assets 39368070.17 39368070.17
Intangible assets 320488235.60 320488235.60
Development expenditure
Goodwill
Long-term prepaid expenses 11572346.79 11572346.79
Deferred tax assets 96132114.02 96455790.38 323676.36
Other non-current assets 6299781.06 6299781.06
Total Non-current Assets 1221556936.74 1261248683.27 39691746.53
Total assets 3226204326.69 3267623103.31 41418776.62
Current Liabilities:
Short-term borrowings 88778852.86 88778852.86
Loans from the central bank
Taking from banks and other
financial institutions
Held-for-trading financial
liabilities
Derivative financial liabilities
Notes payable 116822674.67 116822674.67
Accounts payable 226494815.90 226494815.90
Receipts in advance 153258189.88 153258189.88
Contract liabilities 31518312.59 31518312.59
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 46105566.15 46105566.15
Taxes payable 19871846.94 19871846.94
Other payables 59848053.83 58821952.01 -1026101.82
Including: Interest payable
Dividends payable
Fees and commissions payable
Amounts payable under
reinsurance contracts
Held-for-sale liabilities
Non-current liabilities due
within one year
181417412.46 181417412.46
Other current liabilities 3045831.07 3045831.07
Total Current Liabilities 927161556.35 926135454.53 -1026101.82
Non-current Liabilities:
Insurance contract reserves
Long-term borrowings 64845281.53 64845281.53
Bonds payable
Including: Preferred shares
Perpetual bonds
Leasing liabilities 42411856.75 42411856.75
Long-term payables 3262450.00 3262450.00
Long-term employee benefits
payable
Provisions 28799354.65 28799354.65
Deferred income 16723257.15 16723257.15
Deferred tax liabilities
Other non-current liabilities
Total Non-current Liabilities 113630343.33 156042200.08 42411856.75
Total Liabilities 1040791899.68 1082177654.61 41385754.93
Owners’ (or Shareholders’) equity:
Paid-in capital (or share capital) 452756901.00 452756901.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 1249020991.15 1249020991.15
Less: Treasury shares
Other comprehensive income -3214291.93 -3214291.93
Special reserve
Surplus reserve 35242179.57 35242179.57
General risk reserve
Retained profits 357793891.96 357838162.29 44270.33
Total Owners’ (or
Shareholders’) Equity Attributable
to Owners of the Parent Company
2091599671.75 2091643942.08 44270.33
Minority interests 93812755.26 93801506.62 -11248.64
Total Owners’ (or
Shareholders’) Equity
2185412427.01 2185445448.70 33021.69
Total Liabilities and
Owners’ (or Shareholders’) Equity
3226204326.69 3267623103.31 41418776.62
Description of adjustments on each item:
√Applicable □ N/A
The Company as implemented the new lease standard since January 1 2021 adjusted the opening
balance of relevant line items in the financial statements of the first implementation year according to
amount that have been affected by the first implementation of the new lease standard.Item December 31 2020 January 1 2021 Adjusted amount
Prepayments 47447601.43 49174631.52 1727030.09
Right-of-use assets 39368070.17 39368070.17
Deferred tax assets 96132114.02 96455790.38 323676.36
Other payables 59848053.83 58821952.01 -1026101.82
Lease liabilities 42411856.75 42411856.75
Retained profits 357793891.96 357838162.29 44270.33
Minority interests 93812755.26 93801506.62 -11248.64
Balance Sheet of the Parent Company
In RMB
Item December 31 2020 January 1 2021 Adjusted amount
Current Assets:
Cash and bank balances 709932686.71 709932686.71
Held-for-trading financial
assets
114000000.00 114000000.00
Derivative financial assets
Notes receivable 2314628.91 2314628.91
Accounts receivable 567539506.79 567539506.79
Receivables financing 100000.00 100000.00
Prepayments 11001439.23 13163045.06 2161605.83
Other receivables 71654117.57 71654117.57
Including: Interest receivable
Dividends receivable
Inventories 169022971.44 169022971.44
Contract assets 3720160.50 3720160.50
Held-for-sale assets
Non-current assets due within
one year
Other current assets 1297388.01 1297388.01
Total Current Assets 1650582899.16 1652744504.99 2161605.83
Non-current Assets:
Debt investments
Other debt investments
Long-term receivables 13196087.78 13196087.78
Long-term equity investments 421648284.99 421648284.99
Other equity instrument
investments
7075419.38 7075419.38
Other non-current financial
assets
Investment properties
Fixed assets 57409189.33 57409189.33
Construction in progress 37982329.74 37982329.74
Bearer biological assets
Oil and gas assets
Right-of-use assets 29494047.23 29494047.23
Intangible assets 319438893.42 319438893.42
Development expenditure
Goodwill
Long-term prepaid expenses 9562162.36 9562162.36
Deferred tax assets 6680188.67 7000018.34 319829.67
Other non-current assets 5411561.28 5411561.28
Total Non-current Assets 878404116.95 908217993.85 29813876.90
Total assets 2528987016.11 2560962498.84 31975482.73
Current Liabilities:
Short-term borrowings 11410560.27 11410560.27
Held-for-trading financial
liabilities
Derivative financial liabilities
Notes payable 32313678.21 32313678.21
Accounts payable 210885240.65 210885240.65
Receipts in advance 2688210.54 2688210.54
Contract liabilities 20609190.34 20609190.34
Employee benefits payable 28514763.09 28514763.09
Taxes payable 5830858.89 5830858.89
Other payables 23058804.83 23058804.83
Including: Interest payable
Dividends payable
Held-for-sale liabilities
Non-current liabilities due
within one year
1001024.66 1001024.66
Other current liabilities 1918391.60 1918391.60
Total Current Liabilities 338230723.08 338230723.08
Non-current Liabilities:
Long-term borrowings 29029715.07 29029715.07
Bonds payable
Including: Preferred shares
Perpetual bonds
Leasing liabilities 31626245.01 31626245.01
Long-term payables 3262450.00 3262450.00
Long-term employee benefits
payable
Provisions 16345891.60 16345891.60
Deferred income 14450411.10 14450411.10
Deferred tax liabilities
Other non-current liabilities
Total Non-current Liabilities 63088467.77 94714712.78 31626245.01
Total Liabilities 401319190.85 432945435.86 31626245.01
Owners’ (or Shareholders’) equity:
Paid-in capital (or share
capital)
452756901.00 452756901.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 1351261718.84 1351261718.84
Less: Treasury shares
Other comprehensive income
Special reserve
Surplus reserve 33964638.84 33964638.84
Retained profits 289684566.58 290033804.30 349237.72
Total Owners’ (or
Shareholders’) Equity
2127667825.26 2128017062.98 349237.72
Total Liabilities and
Owners’ (or Shareholders’)
Equity
2528987016.11 2560962498.84 31975482.73
Description of adjustments on each item:
√Applicable □ N/A
The Company as implemented the new lease standard since January 1 2021 adjusted the opening
balance of relevant line items in the financial statements of the first implementation year according to
amount that have been affected by the first implementation of the new lease standard.Item December 31 2020 January 1 2021 Adjusted amount
Prepayments 11001439.23 13163045.06 2161605.83
Right-of-use assets 29494047.23 29494047.23
Deferred tax assets 6680188.67 7000018.34 319829.67
Lease liabilities 31626245.01 31626245.01
Retained profits 289684566.58 290033804.30 349237.72
4.3 Description of retrospective adjustments in comparable data for previous periods upon the first
adoption of the new revenue standard and new lease standard since 2021
□ Applicable √ N/A
4.4 Auditor’s report
□ Applicable √ N/A