ANHUI CONCH CEMENT COMPANY LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
安徽海螺水泥股份有限公司
Anhui Conch Cement Company Limited(a joint stock limited company incorporated in the People's Republic of China) (Stock code: 00914)
2015 FIRST QUARTERLY REPORTIn accordance with the applicable rules of the Shanghai Stock Exchange of the People's Republic of China ("PRC"), the quarterly report ("Quarterly Report") of Anhui Conch Cement Company Limited ("Company") and its subsidiaries (together with the Company referred to as the "Group") for the period between 1 January 2015 and 31 March 2015 (i.e. the first quarter) ("Reporting Period") will be published in newspapers circulating in the PRC on 29 April 2015. The full text of the Quarterly Report is set out below pursuant to Rule 13.09(2) of The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
§ 1 IMPORTANT NOTICE
1.1 The board ("Board") of directors ("Directors"), supervisory committee and directors, supervisors and the senior management of the Company warrant that the information
in this Quarterly Report, for which they jointly and severally accept legal liability, is truthful, accurate and complete, and does not contain any misrepresentation,
misleading statements or material omission.
1.2 The financial report contained in this Quarterly Report has not been audited.
1.3 Mr Guo Wensan, the Company's Chairman, Mr Wang Jianchao, the officer-in-charge of the accounting functions, and Mr Zhou Bo, the head of the accounting department, declare and warrant that the financial report contained in this Quarterly Report is true, accurate and complete.
1.4 In this Quarterly Report, unless stated otherwise, the currency unit refers to Renminbi ("RMB"), the lawful currency of the PRC. Unless stated otherwise, all financial information was prepared under the generally accepted accounting principles of the PRC.
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§2 MAJOR CORPORATE FINANCIAL INFORMATION AND CHANGES OF SHAREHOLDERS OF THE COMPANY
2.1 Major financial information
Unit: RMB
As at the end of the Reporting Period | As at the end of 2014 | Changes as at the end of the Reporting Period compared with that as at the end of 2014 (%) | |
Total assets | 104,021,962,358 | 102,253,097,283 | 1.73 |
Net assets attributable to equity shareholders of the Company | 69,167,509,333 | 66,216,607,886 | 4.46 |
From the beginning of 2015 to the end of the Reporting Period | From the beginning of 2014 to the end of the reporting period of 2014 | Changes as compared with that of the corresponding period of 2014 (%) | |
Net cash flow generated from operating activities | 851,375,908 | 3,019,178,995 | (71.80) |
From the beginning of 2015 to the end of the Reporting Period | From the beginning of 2014 to the end of the reporting period of 2014 | Changes as compared with that of the corresponding period of 2014 (%) | |
Revenue | 11,229,337,718 | 12,629,628,514 | (11.09) |
Net profit attributable to equity shareholders of the Company | 1,713,523,869 | 2,473,498,470 | (30.72) |
Net profit attributable to equity shareholders of the Company after extraordinary items | 1,510,144,424 | 2,371,565,856 | (36.32) |
Weighted average return on net assets (%) | 2.51 | 4.31 | Decreased 1.8 percentage points |
Basic earnings per share (RMB/share) | 0.32 | 0.47 | (30.72) |
Diluted earnings per share (RMB/share) | 0.32 | 0.47 | (30.72) |
Amount in the Reporting Period | |||
Gain/(Loss) from disposal of non-current assets | (1,329,806) | ||
Government subsidy (excluding constant government subsidy closely associated with the enterprise's normal business, granted in fixed amount or quantity in accordance with the State's policy and based on certain standards) included in the current income statement | 211,634,011 | ||
Gain/(Loss) on changes in the fair value of financial assets and financial liabilities held for trading and investment gain from disposal of financial assets and financial liabilities held for trading and available-for-sale financial assets, excluding effective hedging business associated with the Company's normal business | 53,123,952 |
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Charges on share of funds received from non-financial enterprises included in the current income statement | 419,400 |
Gains arising from the excess of the Group's share of the acquisition-date fair values of the investees' identifiable net assets over the investment costs for acquisition of the subsidiaries, associates and joint ventures | - |
Gain/(Loss) obtained from externally entrusted loans | - |
Entrusted fee income obtained from entrusted operation | 8,266,358 |
Other non-operating income and expenses other than the abovementioned items | 10,230,179 |
Effect on income tax | (68,081,912) |
Effect on minority interests (after tax) | (10,882,737) |
Total | 203,379,445 |
2.2 Total number of shareholders and the shareholdings of the top 10 shareholders as at
the end of the Reporting Period
Total number of shareholders as at the end of the Reporting Period | 124,948 | |||
Shareholding of the top 10 shareholders | ||||
Serial number | Name of shareholder | Number of shares held at the end of the Reporting Period | Percentage (%) | Class |
1 | Anhui Conch Holdings Co., Ltd. ("Conch Holdings") (Note 4) | 1,948,869,927 | 36.78 | RMB-denominated ordinary shares |
2 | HKSCC Nominees Limited(Note 3) | 1,297,842,278 | 24.49 | Overseas listed foreign shares |
3 | Anhui Conch Venture Investment Company Limited ("Conch Venture") (Note 4) | 286,713,246 | 5.41 | RMB-denominated ordinary shares |
4 | HKSCC Nominees Limited(Note 3) | 89,737,541 | 1.69 | RMB-denominated ordinary shares |
5 | Genesis Asset Managers, LLP－Customer Funds | 45,497,654 | 0.86 | RMB-denominated ordinary shares |
6 | GIC PRIVATE LIMITED | 31,325,189 | 0.59 | RMB-denominated ordinary shares |
7 | Penghua Value Advantage Equity Securities Investment Fund | 28,994,181 | 0.55 | RMB-denominated ordinary shares |
8 | Guoyuan Securities(Hong Kong) Company Limited-Guoyuan RMB Stable Income Funds | 27,440,598 | 0.52 | RMB-denominated ordinary shares |
9 | Ping An Trust Company Limited - Conch's Equity Interest | 24,036,400 | 0.45 | RMB-denominated ordinary shares |
10 | UBS AG | 21,186,983 | 0.40 | RMB-denominated ordinary shares |
Notes: 1. The abovementioned shares held by the Company's top 10 shareholders are
floating shares without trading restriction.
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2. During the Reporting Period, the Company did not issue any preference shares.
3. As at the end of the Reporting Period, HKSCC Nominees Limited held
1,297,842,278 H Shares, representing 24.49% of the total share capital of the
Company, on behalf of its various clients; and it held 89,737,541 A Shares, representing 1.69% of the total share capital of the Company, on behalf of its various clients.
4. As far as the Board is aware, among the abovementioned shareholders, and
according to the listing rules of the Shanghai Stock Exchange, Conch Holdings and Conch Venture have connected relationship. Save for the aforesaid, the Board is not aware of any connected relationship or party acting in concert among the abovementioned shareholders.
3.1 Significant changes and reasons for such changes in major items of the accounting
statements and financial guidance of the Company
1. As at the end of the Reporting Period, the closing balance of the Group's financial assets at fair value through profit or loss increased by 167.32% from that at the beginning of the year. This was mainly because the contracted exchange rates of the yet-to-mature forward contracts of financial assets denominated in foreign currency held by the Group at the end of the Reporting Period were higher than the forward exchange rates.
2. As at the end of the Reporting Period, the Group's interests receivable increased by
52.36% from that at the beginning of the year, mainly because the payment of the accrued interest income from the Group's bank deposits was not yet due during the Reporting Period;
3. As at the end of the Reporting Period, the closing balance of the Group's available-for-sale financial assets increased by 42.14% from that at the beginning of the year, while the closing balance of deferred income tax liabilities increased by 80.51% from that at the beginning of the year. These were mainly due to the increase in the fair value of other listed companies' shares held by the Group as at the end of the Reporting Period when compared with that at the beginning of the year.
4. As at the end of the Reporting Period, the closing balance of the Group's short-term borrowings increased by 100.39% from that at the beginning of the year, mainly because the short-term financing loans of the Group's subsidiaries increased during the Reporting Period.
5. As at the end of the Reporting Period, the closing balance of wages payable of the Group decreased by 85.16% from that at the beginning of the year. This was mainly due to the payment made by the Group during the Reporting Period of the year-end bonus accrued
for the previous year.
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6. As at the end of the Reporting Period, the closing balance of the Group's interests payable increased by 58.96% from that at the beginning of the year. This was mainly because the payment date of interest accrued on the corporate bonds of the Group was not yet due.
7. During the Reporting Period, the gain or loss on changes in fair value of the Group increased by 36.66 million when compared with that of the same period last year. This was mainly because the contracted exchange rates of the yet-to-mature forward contracts of financial assets denominated in foreign currency held by the Group at the end of the Reporting Period were higher than the forward exchange rates.
8. During the Reporting Period, the Group's investment income increased by 550.62% from that of the same period last year, mainly due to a year-on-year increase in investment income from associates recognized by the Group during the Reporting Period;
9. During the Reporting Period, the Group's non-operating income increased by 64.73% from that of the same period last year. This was mainly due to the year-on-year increase in government subsidy obtained during the Reporting Period.
10. During the Reporting Period, the Group's operating profit, total profits and net profit attributable to equity shareholders of the Company decreased by 41.28%, 35.36% and
30.72% respectively from those of the same period last year. These were mainly due to the year-on-year decrease in the selling prices of the Group's products during the Reporting Period.
11. During the Reporting Period, the income tax expenses of the Group decreased by
41.40% from that of the same period last year, mainly due to the year-on-year decrease in the
Group's profit during the Reporting Period.
12. During the Reporting Period, net cash inflow from operating activities of the Group decreased by 71.80% from that of the same period last year, mainly due to a year-on-year decrease in the Group's revenue.
13. During the Reporting Period, net cash outflow from investing activities of the Group increased by RMB3.287 billion from that of the same period last year, mainly due to the year-on-year increase in term deposits with a maturity of over three months arranged by the Group.
14. During the Reporting Period, net cash outflow from financing activities of the
Group decreased by RMB1.243 billion from that of the same period last year, mainly due to a year-on-year decrease in the loan repayments of the Group.
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3.2 Progress of significant events and analysis of their effects and solutions
□Applicable √Not applicable
3.3 Implementation of undertakings made by the Company and its shareholders who hold more than 5% of its shares
√Applicable □Not applicable
Undertakings by shareholders: in 2007, the Company issued A Shares to Conch Venture as consideration for the purchase of the relevant assets of Conch Venture. Conch Venture has made the following undertakings in relation to the shareholders' rights arrangements in respect of the shares held: except the rights of a shareholder of a proprietary nature (including but not limited to rights to receive dividends), Conch Venture will forgo its other shareholder's rights of the Company such as rights to vote, nominate and elect Directors/Supervisors of the Company, so long as it holds the Company's shares. During the Reporting Period, Conch Venture has complied with the above undertakings.
3.4 Warning of and explanation for the accumulated net profit from the beginning of the year to the end of the next reporting period forecast to be a probable loss or to be significantly different from that of the corresponding period of the previous year
□Applicable √Not applicable
3.5 Effect of application of new accounting principles on consolidated financial statements
□Applicable √Not applicable
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§ 4 Appendix4.1 Balance Sheet
Balance SheetPrepared by: Anhui Conch Cement Company Limited Unit: RMB Type of audit: Unaudited
Items | As at 31 March 2015 Consolidated | As at 31 December 2014 Consolidated | As at 31 March 2015 The Company | As at 31 December 2014 The Company |
Current Assets: | ||||
Monetary capital | 13,322,477,064 | 14,151,606,026 | 10,128,951,214 | 11,309,488,162 |
Financial assets at fair value through profit/(losses) | 54,381,457 | 20,343,265 | 52,678,235 | 20,343,265 |
Bills receivable | 3,307,953,081 | 3,908,887,144 | 216,233,479 | 298,060,520 |
Accounts receivable | 375,108,881 | 333,247,400 | 27,413,012 | 13,196,865 |
Advance payments | 552,315,967 | 533,551,061 | 190,159,921 | 94,780,228 |
Interests receivable | 81,578,985 | 53,542,491 | 85,580,903 | 54,670,962 |
Dividend receivable | - | - | - | 2,496,400,000 |
Other receivables | 625,882,256 | 517,938,896 | 27,082,272,071 | 23,451,647,298 |
Inventory | 5,206,864,161 | 4,375,976,175 | 485,020,961 | 465,491,233 |
Other current assets | 1,064,354,112 | 1,201,963,874 | 80,648,649 | 100,304,974 |
Total current assets | 24,590,915,964 | 25,097,056,332 | 38,348,958,445 | 38,304,383,507 |
Non-current assets: | ||||
Available-for-sale equity securities | 5,593,814,506 | 3,935,395,280 | 5,593,814,506 | 3,935,395,280 |
Long-term receivables | - | - | 6,275,000,000 | 6,275,000,000 |
Long-term equity investment | 2,786,367,508 | 2,644,144,218 | 36,039,663,778 | 35,667,939,663 |
Investment properties | 31,843,686 | 32,114,352 | 31,843,686 | 32,114,352 |
Fixed assets | 58,875,473,998 | 57,250,499,675 | 946,807,521 | 965,476,351 |
Construction in progress | 2,889,059,269 | 3,975,224,102 | 7,782,098 | 7,939,776 |
Construction materials | 1,260,899,260 | 1,416,838,028 | 222,600 | 3,244,872 |
Intangible assets | 6,733,197,056 | 6,721,625,590 | 297,051,953 | 301,111,268 |
Goodwill | 374,557,189 | 374,557,189 | - | - |
Deferred income tax assets | 349,599,017 | 283,476,568 | - | - |
Other non-current assets | 536,234,905 | 522,165,949 | - | - |
Total non-current assets | 79,431,046,394 | 77,156,040,951 | 49,192,186,142 | 47,188,221,562 |
Total assets | 104,021,962,358 | 102,253,097,283 | 87,541,144,587 | 85,492,605,069 |
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Balance Sheet (Continued)Prepared by: Anhui Conch Cement Company Limited Unit: RMB Type of audit: Unaudited
Items | As at 31 March 2015 Consolidated | As at 31 December 2014 Consolidated | As at 31 March 2015 The Company | As at 31 December 2014 The Company |
Current liabilities: | ||||
Short-term borrowings | 545,810,974 | 272,380,116 | 150,000,000 | - |
Financial liabilities at fair value through profit/(losses) | - | 1,472,704 | - | - |
Accounts payable | 3,218,800,907 | 4,024,948,109 | 215,717,629 | 256,610,218 |
Receipts in advance | 881,123,584 | 1,092,772,458 | 35,328,092 | 58,865,254 |
Wages payable | 77,687,196 | 523,593,185 | 10,511,224 | 55,072,777 |
Tax payable | 701,196,172 | 984,172,185 | 29,951,603 | 42,303,240 |
Interests payable | 557,185,552 | 350,511,633 | 552,343,595 | 347,208,554 |
Dividend payable | 200,000,000 | 200,000,000 | - | - |
Other payables | 4,671,652,419 | 4,890,371,259 | 6,019,438,178 | 6,023,852,365 |
Non-current liabilities due within one year | 2,158,787,727 | 2,056,787,727 | 650,000,000 | 700,000,000 |
Total current liabilities | 13,012,244,531 | 14,397,009,376 | 7,663,290,321 | 7,483,912,408 |
Non-current liabilities: | ||||
Long-term borrowings | 1,737,100,635 | 2,104,520,602 | - | - |
Bonds payable | 15,484,537,381 | 15,482,555,066 | 15,484,537,381 | 15,482,555,066 |
Including: Preference shares | - | - | - | - |
Perpetual bonds | - | - | - | - |
Long-term wages payable | 5,617,376 | 5,617,376 | - | - |
Deferred income | 131,289,372 | 129,981,248 | 1,433,334 | 1,458,333 |
Deferred income tax liabilities | 942,550,288 | 522,172,682 | 615,055,932 | 192,367,383 |
Total non-current liabilities | 18,301,095,052 | 18,244,846,974 | 16,101,026,647 | 15,676,380,782 |
Total liabilities： | 31,313,339,583 | 32,641,856,350 | 23,764,316,968 | 23,160,293,190 |
Shareholders' equity: | ||||
Share capital | 5,299,302,579 | 5,299,302,579 | 5,299,302,579 | 5,299,302,579 |
Capital reserve | 10,686,638,402 | 10,686,638,402 | 16,803,659,305 | 16,803,659,305 |
Other comprehensive income | 1,756,624,619 | 519,247,041 | 1,812,924,485 | 569,110,065 |
Surplus reserve | 2,649,651,290 | 2,649,651,290 | 2,649,651,290 | 2,649,651,290 |
Unappropriated profits | 48,775,292,443 | 47,061,768,574 | 37,211,289,960 | 37,010,588,640 |
Total equity attributable to shareholders of the Company | 69,167,509,333 | 66,216,607,886 | - | - |
Minority interests | 3,541,113,442 | 3,394,633,047 | - | - |
Total owners' equity | 72,708,622,775 | 69,611,240,933 | 63,776,827,619 | 62,332,311,879 |
Total liabilities and owners' equity | 104,021,962,358 | 102,253,097,283 | 87,541,144,587 | 85,492,605,069 |
Legal representative: Guo Wensan
Officer-in-charge of the accounting functions: Wang Jianchao
Head of the accounting department: Zhou Bo
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4.2 Income Statement
Income StatementPrepared by: Anhui Conch Cement Company Limited Unit: RMB Type of audit: Unaudited
Items | 2015 Q1 Consolidated | 2014 Q1 Consolidated | 2015 Q1 The Company | 2014 Q1 The Company |
I. Operating revenue | 11,229,337,718 | 12,629,628,514 | 541,127,708 | 553,090,718 |
II. Less: Operating cost | (7,940,717,271) | (8,131,708,364) | (424,943,834) | (361,182,577) |
Business tax and surcharges | (47,720,217) | (58,022,957) | (1,619,799) | (1,392,022) |
Selling expenses | (597,803,138) | (558,269,750) | (18,435,325) | (16,558,952) |
Administrative expenses | (668,299,758) | (549,286,468) | (48,364,731) | (46,719,411) |
Financial expenses | (235,441,906) | (196,319,201) | 70,224,910 | 28,390,726 |
Losses on impairment of assets | - | - | (439,731) | (358,087) |
Add: Gain/(losses) on changes of fair value | 35,510,896 | (1,151,578) | 32,334,970 | 7,036,931 |
Investment income | 72,446,017 | 11,134,981 | 82,444,963 | 15,916,885 |
Including: investment income from associates and jointly controlled entities | 54,832,961 | 10,088,846 | 63,783,307 | 14,870,750 |
III. Operating profit | 1,847,312,341 | 3,146,005,177 | 232,329,131 | 178,224,211 |
Add: Non-operating income | 307,127,182 | 186,437,483 | 6,858,173 | 10,937,305 |
Including: gains from disposal of non-current assets | 285,182 | 363,083 | - | 39,801 |
Less: Non-operating expenses | (2,375,905) | (3,321,777) | - | (21,117) |
Including: Loss from disposal of non-current assets | (1,614,988) | (2,853,796) | - | (21,117) |
IV. Total profits | 2,152,063,618 | 3,329,120,883 | 239,187,304 | 189,140,399 |
Less: Income tax expenses | (433,811,394) | (740,257,747) | (38,485,984) | (43,977,440) |
V. Net profit | 1,718,252,224 | 2,588,863,136 | 200,701,320 | 145,162,959 |
Net profit attributable to equity shareholders of the Company | 1,713,523,869 | 2,473,498,470 | ||
Minority interests | 4,728,355 | 115,364,666 |
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Income Statement (Continued)Prepared by: Anhui Conch Cement Company Limited Unit: RMB Type of audit: Unaudited
Items | 2015 Q1 Consolidated | 2014 Q1 Consolidated | 2015 Q1 The Company | 2014 Q1 The Company |
VI. Net other comprehensive income/(losses) after tax | 1,235,069,618 | 104,367,480 | 1,243,814,420 | 89,791,405 |
Net other comprehensive income/(losses) after tax attributable to equity shareholders of the Company | 1,237,377,578 | 99,956,970 | ||
(I) Other comprehensive income that will be reclassified to the profit and losses | 1,237,377,578 | 99,956,970 | 1,243,814,420 | 89,791,405 |
1. Gains/(losses) arising from changes in fair value of available-for-sale financial assets | 1,243,814,420 | 89,791,405 | 1,243,814,420 | 89,791,405 |
2. exchange differences on translation of financial statements | (6,436,842) | 10,165,565 | ||
Net other comprehensive income/(losses) after tax attributable to minority interests | (2,307,960) | 4,410,510 | ||
VII. Total comprehensive income attributable to | 2,953,321,842 | 2,693,230,616 | 1,444,515,740 | 234,954,364 |
equity shareholders of the Company | 2,950,901,447 | 2,573,455,440 | ||
minority interest | 2,420,395 | 119,775,176 | ||
VIII. Earnings per share | ||||
(1) Basic earnings per share | 0.32 | 0.47 | ||
(2) Diluted earnings per share | 0.32 | 0.47 |
Legal representative: Guo Wensan
Officer-in-charge of the accounting functions: Wang Jianchao
Head of the accounting department: Zhou Bo
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4.3 Cash Flow Statement
Cash Flow StatementPrepared by: Anhui Conch Cement Company Limited Unit: RMB Type of audit: Unaudited
Items | 2015 Q1 Consolidated | 2014 Q1 Consolidated | 2015 Q1 The Company | 2014 Q1 The Company |
1. Cash flow generated from operating activities: | ||||
Cash received from sale of goods and rendering of services | 14,831,330,548 | 18,132,084,570 | 674,834,427 | 900,560,889 |
Tax and charges refund | 84,216,893 | 47,800,926 | 2,151,887 | 3,316,697 |
Cash received relating to other operating activities | 223,933,230 | 206,448,621 | 4,681,288 | 7,580,807 |
Sub-total of cash inflow from operating activities | 15,139,480,671 | 18,386,334,117 | 681,667,602 | 911,458,393 |
Cash paid for goods and services | (10,955,079,313) | (11,783,999,558) | (589,606,367) | (756,073,036) |
Cash paid to and on behalf of employees | (1,323,971,336) | (1,191,661,421) | (85,617,216) | (87,819,884) |
Various types of tax paid | (1,654,015,292) | (2,019,865,717) | (85,142,443) | (77,043,784) |
Cash paid relating to other operating activities | (355,038,822) | (371,628,426) | (3,282,661,286) | (286,122,938) |
Sub-total of cash outflow from operating activities | (14,288,104,763) | (15,367,155,122) | (4,043,027,312) | (1,207,059,642) |
Net cash flow generated from operating activities | 851,375,908 | 3,019,178,995 | (3,361,359,710) | (295,601,249) |
2. Cash flow generated from investing activities: | ||||
Cash received from sales of investments | - | 1,950,341,591 | - | 1,950,341,591 |
Cash received from investment income | - | 20,707,808 | 2,496,400,000 | 20,707,808 |
Net cash received from disposal of fixed assets and intangible assets | 3,752,705 | 7,798,273 | - | 103,367 |
Cash received from other investing activities | 98,901,773 | 91,330,142 | 607,630,260 | 227,557,545 |
Sub-total of cash inflow from investing activities | 102,654,478 | 2,070,177,814 | 3,104,030,260 | 2,198,710,311 |
Cash paid for acquisition and construction of fixed assets, intangible assets and other long-term assets | (1,555,428,777) | (2,183,898,884) | (3,658,931) | (4,444,822) |
Cash paid for investment | (3,700,000,000) | (1,794,856,112) | (3,711,904,549) | (1,794,856,112) |
Net cash paid for acquisition of subsidiaries and other operation entities | (268,928,510) | (264,791,061) | (507,378,510) | (260,392,724) |
Cash paid for other investing activities | (45,000,000) | (6,000,000) | (500,000,000) | (480,000,000) |
Sub-total of cash outflow from investing activities | (5,569,357,287) | (4,249,546,057) | (4,722,941,990) | (2,539,693,658) |
Net cash flow generated from investing activities | (5,466,702,809) | (2,179,368,243) | (1,618,911,730) | (340,983,347) |
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Cash Flow Statement (Continued)Prepared by: Anhui Conch Cement Company Limited Unit: RMB Type of audit: Unaudited
Items | 2015 Q1 Consolidated | 2014 Q1 Consolidated | 2015 Q1 The Company | 2014 Q1 The Company |
3. Cash flow generated from financing activities: | ||||
Cash received from investment | 144,550,000 | - | - | - |
Including: cash received from investment of minority interest of subsidiaries | 144,550,000 | - | - | - |
Cash received from borrowings | 322,966,974 | 313,204,979 | 150,000,000 | - |
Cash received from other financing activities | - | - | - | - |
Sub-total of cash inflow from financing activities | 467,516,974 | 313,204,979 | 150,000,000 | - |
Cash paid for repaying borrowings | (316,000,000) | (1,409,000,000) | (50,000,000) | - |
Cash paid for distribution of dividends, profits or payment of interest | (67,180,231) | (62,507,731) | (2,132,059) | (4,542,524) |
Including: profits distributed to minority interests by the subsidiaries | ||||
Cash paid for other financing activities | - | - | ||
Sub-total of cash outflow from financing activities | (383,180,231) | (1,471,507,731) | (52,132,059) | (4,542,524) |
Net cash flow generated from financing activities | 84,336,743 | (1,158,302,752) | 97,867,941 | (4,542,524) |
4. Effect of changes in foreign exchange rates on cash and cash equivalents | 1,861,196 | 10,165,565 | 1,866,552 | - |
5. Net increase in cash and cash equivalents | (4,529,128,962) | (308,326,435) | (4,880,536,947) | (641,127,120) |
Add: Cash and cash equivalents at the beginning of the period | 12,512,121,499 | 6,518,932,288 | 9,716,878,499 | 3,928,412,168 |
6. Cash and cash equivalents at the end of the period | 7,982,992,537 | 6,210,605,853 | 4,836,341,552 | 3,287,285,048 |
Legal representative: Guo Wensan
Officer-in-charge of the accounting functions: Wang Jianchao
Head of the accounting department: Zhou Bo
By order of the Board
Anhui Conch Cement Company Limited Yang Kaifa
Company Secretary
Wuhu City, Anhui Province, the PRC
28 April 2015
As at the date of this announcement, the Board comprises (i) Mr Guo Wensan, Mr Wang Jianchao, Ms Zhang Mingjing, and Mr Zhou Bo as executive Directors, (ii) Mr Guo Jingbin as non-executive Director, and (iii) Mr Wong Kun Kau, Mr Tai Kwok Leung and Mr Zhao Jianguang as independent non-executive Directors.
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