DONGJIANG ENVIRONMENTAL 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.
DONGJIANG ENVIRONMENTAL COMPANY LIMITED*
東江環保股份有限公司
(a joint stock limited company incorporated in the People's Republic of China)
(Stock code: 00895)
INSIDE INFORMATION
SUMMARY OF 2021 FIRST QUARTERLY REPORT
This announcement is made pursuant to Rules 13.09 and 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
Reference is made to the overseas regulatory announcement issued by Dongjiang Environmental Company Limited* (the "Company") dated 28 April 2021 (the "Announcement") in relation to the full 2021 First Quarterly Report for the three months ended 31 March 2021 ("Reporting Period") of the Company. Set out below is a summary of the key information as set out in the said quarterly report:
Unless otherwise specified, financial information of the Company are presented in Renminbi ("RMB").
FINANCIAL STATEMENT
1. CONSOLIDATED BALANCE SHEET
Unit: RMB | ||
Item | As at 31 March 2021 | As at 31 December 2020 |
(unaudited) | (audited) | |
Current assets: | ||
Monetary fund | 532,710,247.85 | 661,656,688.47 |
Settlement Deposits | ||
Placements with banks and other | ||
financial institutions | ||
Held-for-trading financial assets | ||
Derivative financial assets | ||
Notes receivable | 300,000.00 | |
- 1 -
Accounts receivable | 900,098,956.33 | 888,802,439.18 |
Receivables financing | 109,460,057.41 | 117,391,305.95 |
Prepayments | 57,480,739.54 | 33,947,171.83 |
Premium receivable | ||
Reinsurance accounts receivable | ||
Provision for reinsurance contract | ||
receivable | ||
Other accounts receivable | 178,767,083.86 | 156,897,582.94 |
Including: Interest receivable | ||
Dividend receivable | ||
Purchase and resale of financial assets | ||
Inventories | 279,719,819.74 | 267,104,699.13 |
Granted loans and advances | 125,724,200.00 | 125,724,200.00 |
Contractual assets | 98,152,957.43 | 97,752,957.43 |
Assets held-for-sale | ||
Non-current asset due within one year | 40,962,345.11 | 40,962,345.11 |
Other current assets | 174,826,267.76 | 164,106,276.05 |
Total current assets | 2,497,902,675.03 | 2,554,645,666.09 |
Non-current assets: | ||
Granted loans and advances | ||
Debt investments | ||
Other debt investments | ||
Long-term accounts receivable | 9,133,454.00 | 9,057,812.00 |
Long-term equity investment | 294,099,624.64 | 292,133,513.22 |
Investment in other equity instruments | ||
Other non-current financial assets | ||
Investment properties | 449,741,430.00 | 449,741,430.00 |
Fixed assets | 3,278,108,154.90 | 3,199,533,468.35 |
Construction in progress | 1,145,771,733.03 | 1,088,213,867.20 |
Productive biological assets | ||
Oil and gas assets | ||
Right-of-use assets | 8,842,319.53 | 10,899,231.78 |
Intangible assets | 1,400,962,065.64 | 1,418,874,900.81 |
- 2 -
Development expenditure | 10,926,250.54 | 9,614,581.39 |
Goodwill | 1,229,437,530.02 | 1,229,437,530.02 |
Long-term unamortized expenses | 34,334,800.16 | 32,173,218.27 |
Deferred income tax assets | 54,641,502.49 | 53,042,099.67 |
Other non-current assets | 71,335,285.02 | 76,786,162.39 |
Total non-current assets | 7,987,334,149.97 | 7,869,507,815.10 |
Total assets | 10,485,236,825.00 | 10,424,153,481.19 |
Current liabilities: | ||
Short-term borrowings | 2,022,004,205.02 | 1,812,588,806.04 |
Borrowings from central bank | ||
Loans from other banks | ||
Held-for-trading financial liabilities | ||
Derivative financial liabilities | ||
Notes payable | ||
Accounts payable | 645,129,796.06 | 729,966,510.14 |
Receipts in advance | 101,250.00 | 129,759.30 |
Contractual liabilities | 146,409,776.91 | 131,914,557.55 |
Proceeds from disposal of financial | ||
assets under agreements to repurchase | ||
Receipt of deposits and deposits from | ||
other banks | ||
Funds received as agent of stock | ||
exchange | ||
Funds received as stock underwriter | ||
Employee benefits payables | 61,434,940.17 | 59,679,041.02 |
Tax payable | 44,952,602.87 | 61,242,883.07 |
Other accounts payable | 475,681,552.14 | 596,813,443.81 |
Including: Interest payable | ||
Dividend payable | ||
Handling fees and commission payable | ||
Reinsurance accounts payable | ||
Liabilities held-for-sale | ||
Non-current liabilities due within | ||
one year | 171,847,138.99 | 183,802,949.40 |
Other current liabilities | ||
- 3 -
Total current liabilities | 3,567,561,262.16 | 3,576,137,950.33 |
Non-current liabilities: | ||
Provision for insurance contracts | ||
Long-term borrowings | 688,528,050.39 | 661,587,707.50 |
Bonds payable | 617,143,925.91 | 599,438,388.07 |
Including: Preferred shares | ||
Perpetual bond | ||
Lease liabilities | 1,361,711.38 | 3,570,738.23 |
Long-term accounts payables | 535,498.00 | 337,259.90 |
Long-term employee benefits payables | ||
Estimated liabilities | 27,733,469.21 | 27,733,469.21 |
Deferred income | 159,709,165.89 | 161,769,484.91 |
Deferred income tax liabilities | 19,939,483.66 | 19,939,483.66 |
Other non-current liabilities | ||
Total non-current liabilities | 1,514,951,304.44 | 1,474,376,531.48 |
Total liabilities | 5,082,512,566.60 | 5,050,514,481.81 |
Owners' equity: | ||
Share capital | 879,267,102.40 | 879,267,102.40 |
Other equity instruments | ||
Including: Preferred shares | ||
Perpetual bond | ||
Capital reserve | 465,447,803.48 | 465,447,803.48 |
Less: Treasury stock | ||
Other comprehensive income | 17,621,739.40 | 17,630,505.29 |
Special reserves | 2,430,521.01 | 1,795,049.51 |
Surplus reserves | 236,849,262.89 | 236,849,262.89 |
Provision for normal risks | 5,611,350.00 | 5,611,350.00 |
Undistributed profits | 2,964,742,952.60 | 2,932,961,856.36 |
Total equity attributable to owners of the | ||
parent company | 4,571,970,731.78 | 4,539,562,929.93 |
Minority interests | 830,753,526.62 | 834,076,069.45 |
Total owners' equity | 5,402,724,258.40 | 5,373,638,999.38 |
Total liabilities and owners' equity | 10,485,236,825.00 | 10,424,153,481.19 |
- 4 -
2. BALANCE SHEET OF THE COMPANY
Unit: RMB | ||
Item | As at 31 March 2021 | As at 31 December 2020 |
(unaudited) | (audited) | |
Current assets: | ||
Monetary fund | 322,676,901.18 | 522,518,784.13 |
Held-for-trading financial assets | ||
Derivative financial assets | ||
Notes receivable | ||
Accounts receivable | 287,546,925.07 | 275,389,577.40 |
Receivables financing | 22,259,493.28 | 4,587,988.66 |
Prepayments | 999,771.67 | 1,086,185.53 |
Other accounts receivable | 2,249,452,740.01 | 1,891,587,812.35 |
Including: Interest receivable | ||
Dividend receivable | ||
Inventories | 7,323,298.32 | 7,256,869.39 |
Contractual assets | 69,015,844.91 | 69,015,844.91 |
Assets held-for-sale | ||
Non-current asset due within one year | 40,962,345.11 | 40,962,345.11 |
Other current assets | 5,421,271.85 | 4,166,706.69 |
Total current assets | 3,005,658,591.40 | 2,816,572,114.17 |
Non-current assets: | ||
Debt investments | ||
Other debt investments | ||
Long-term accounts receivable | ||
Long-term equity investment | 4,555,250,010.70 | 4,556,283,899.28 |
Investment in other equity instruments | ||
Other non-current financial assets | ||
Investment properties | 81,230,830.00 | 81,230,830.00 |
Fixed assets | 75,853,029.53 | 76,647,284.51 |
Construction in progress | 8,963,106.93 | 10,225,821.86 |
- 5 -
Productive biological assets | ||
Oil and gas assets | ||
Right-of-use assets | ||
Intangible assets | 94,456,958.67 | 97,342,927.02 |
Development expenditure | 9,011,252.39 | 8,002,670.49 |
Goodwill | ||
Long-term unamortized expenses | 6,439,735.64 | 3,585,407.49 |
Deferred income tax assets | 31,986,464.76 | 31,986,464.76 |
Other non-current assets | 743,547.83 | 1,423,206.44 |
Total non-current assets | 4,863,934,936.45 | 4,866,728,511.85 |
Total assets | 7,869,593,527.85 | 7,683,300,626.02 |
Current liabilities: | ||
Short-term borrowings | 1,810,962,756.66 | 1,662,894,066.01 |
Held-for-trading financial liabilities | ||
Derivative financial liabilities | ||
Notes payable | ||
Accounts payable | 114,808,602.97 | 160,626,516.68 |
Receipts in advance | 28,509.30 | |
Contractual liabilities | 66,613.19 | 1,517,900.08 |
Employee benefits payables | 1,175,488.37 | 7,318,942.76 |
Tax payable | 2,398,193.21 | 3,725,855.29 |
Other accounts payable | 2,222,415,315.97 | 2,125,629,069.59 |
Including: Interest payable | ||
Dividend payable | ||
Liabilities held-for-sale | ||
Non-current liabilities due within | ||
one year | 9,100,000.00 | 31,000,000.00 |
Other current liabilities | ||
Total current liabilities | 4,160,926,970.37 | 3,992,740,859.71 |
- 6 -
Non-current liabilities: | ||
Long-term borrowings | 25,400,000.00 | 25,400,000.00 |
Bonds payable | 617,143,925.91 | 599,438,388.07 |
Including: Preferred shares | ||
Perpetual bond | ||
Lease liabilities | ||
Long-term accounts payables | ||
Long-term employee benefits payables | ||
Estimated liabilities | 27,733,469.21 | 27,733,469.21 |
Deferred income | 10,379,677.79 | 10,602,582.47 |
Deferred income tax liabilities | 6,394,386.50 | 6,394,386.50 |
Other non-current liabilities | ||
Total non-current liabilities | 687,051,459.41 | 669,568,826.25 |
Total liabilities | 4,847,978,429.78 | 4,662,309,685.96 |
Owners' equity: | ||
Share capital | 879,267,102.40 | 879,267,102.40 |
Other equity instruments | ||
Including: Preferred shares | ||
Perpetual bond | ||
Capital reserve | 533,103,277.48 | 533,103,277.48 |
Less: Treasury stock | ||
Other comprehensive income | 3,509,701.20 | 3,509,701.20 |
Special reserves | ||
Surplus reserves | 220,337,987.79 | 220,337,987.79 |
Undistributed profits | 1,385,397,029.20 | 1,384,772,871.19 |
Total owners' equity | 3,021,615,098.07 | 3,020,990,940.06 |
Total liabilities and owners' equity | 7,869,593,527.85 | 7,683,300,626.02 |
- 7 -
3. CONSOLIDATED INCOME STATEMENT FOR THE REPORTING PERIOD
Unit: RMB | |||
For the three months ended | For the three months ended | ||
Item | 31 March 2021 | 31 March 2020 | |
(unaudited) | (unaudited) | ||
I. | Total operating revenue | 751,429,239.14 | 658,045,177.74 |
Including: Operating revenue | 751,429,239.14 | 658,045,177.74 | |
Interest income | |||
Premium income | |||
Handling charges and | |||
commission income | |||
II. | Total operating cost | 725,661,678.49 | 613,067,635.72 |
Including: Cost of operation | 542,769,664.01 | 452,286,691.64 | |
Interest expenses | |||
Handling charges and | |||
commission expenses | |||
Surrenders | |||
Net claims expenses | |||
Net provisions for | |||
insurance contracts | |||
reserve | |||
Insurance policy dividend | |||
paid | |||
Reinsurance costs | |||
Tax and levies | 8,877,361.44 | 9,637,160.52 | |
Selling expenses | 25,807,700.26 | 18,999,312.46 | |
Administrative expenses | 89,582,651.40 | 76,084,708.71 | |
Research and development | |||
expenses | 31,944,281.61 | 22,077,328.15 | |
Finance costs | 26,680,019.77 | 33,982,434.24 | |
Including: Interest | |||
expense | 28,587,365.64 | 38,300,887.53 | |
Interest | |||
income | 1,851,078.34 | 4,894,330.12 | |
Add: Other gains | 13,448,483.27 | 22,186,841.05 | |
Gain from investment | |||
(Loss represented in "-" signs) | 1,642,741.39 | 2,015,074.39 | |
- 8 -
Including: Investment revenue in | ||
associates and joint | ||
ventures | 1,966,111.42 | 2,015,074.39 |
Gain on derecognition | ||
of financial asset | ||
measured at the | ||
amortized cost | ||
Exchange gain | ||
(Loss represented in "-" signs) | ||
Gain from net exposure hedges | ||
(Loss represented in "-" signs) | ||
Gain on fair value changes | ||
(Loss represented in "-" signs) | ||
Credit impairment loss | ||
(Loss represented in "-" signs) | -2,103,874.20 | -1,878,726.32 |
Asset impairment loss | ||
(Loss represented in "-" signs) | ||
Gain on disposal of assets | ||
(Loss represented in "-" signs) | 879,093.65 | -297,306.61 |
- Operating profit
(Loss represented in "-" signs) | 39,634,004.76 | 67,003,424.53 | |
Add: Non-operating income | 2,184,853.71 | 743,486.26 | |
Less: Non-operating expenses | 1,371,892.09 | 3,852,207.93 | |
IV. | Total profit | ||
(Total loss represented in "-" signs) | 40,446,966.38 | 63,894,702.86 | |
Less: Income tax expenses | 10,474,327.66 | 17,115,118.72 | |
V. | Net profit | ||
(Net loss represented in "-" signs) | 29,972,638.72 | 46,779,584.14 |
- Classified on a going concern basis
1. Net profit from continuing operations (Net loss represented in
"-" signs) | 29,972,638.72 | 46,779,584.14 |
- 9 -
- Net profit from discontinued operations (Net loss represented in "-" signs)
- Classified according to the ownership
- Net profit attributable to owners of the parent
company | 31,781,096.24 | 55,561,985.79 | |
2. | Profit and loss | ||
attributable to minority | |||
interests | -1,808,457.52 | -8,782,401.65 | |
VI. Other comprehensive income, net of | |||
tax | -8,765.89 | 1,225,605.96 | |
Other comprehensive income | |||
attributable to owners of the parent | |||
company, net of tax | -8,765.89 | 1,225,605.96 |
- Items cannot be reclassified to profit and loss
- Changes arising from remeasurement of defined benefit plan
- Other comprehensive income that cannot be reclassified into profit or loss under the equity method
- Changes in fair value of other equity instrument investments
- Change in fair value due to enterprise's own credit risk
- Others
- Items can be reclassified to
profit and loss | -8,765.89 | 1,225,605.96 |
1. Other comprehensive income that can be reclassified into profit or loss under the equity method
- 10 -
2. | Changes in fair value of | ||||
other debt investment | |||||
3. | Amount of financial | ||||
assets reclassified into | |||||
other comprehensive | |||||
income | |||||
4. | Credit impairment | ||||
provisions for other debt | |||||
investments | |||||
5. | Reserves for cash flow | ||||
hedge | |||||
6. | Exchange difference on | ||||
translation of financial | |||||
statement in foreign | |||||
currency | -8,765.89 | 1,225,605.96 | |||
7. | Others | ||||
Other comprehensive income | |||||
attributable to minority interests, | |||||
net of tax | |||||
VII. | Total comprehensive income | 29,963,872.83 | 48,005,190.10 | ||
Attributable to owners of the parent | |||||
company | 31,772,330.35 | 56,787,591.75 | |||
Attributable to minority interests | -1,808,457.52 | -8,782,401.65 | |||
VIII. | Earnings per share: | ||||
(1) | Basic earnings per share | 0.04 | 0.06 | ||
(2) | Diluted earnings per share | 0.04 | 0.06 | ||
- 11 -
4. INCOME STATEMENT OF THE COMPANY FOR THE REPORTING PERIOD
Unit: RMB | |||
For the three months ended | For the three months ended | ||
Item | 31 March 2021 | 31 March 2020 | |
(unaudited) | (unaudited) | ||
I. | Total operating revenue | 108,845,111.14 | 116,868,856.17 |
Less: Cost of operation | 87,407,660.49 | 103,398,506.15 | |
Tax and levies | 520,328.96 | 408,161.88 | |
Selling expenses | 791,590.61 | 622,433.60 | |
Administrative expenses | 13,134,548.39 | 8,413,707.58 | |
Research and development | |||
expenses | 2,785,758.65 | 1,642,582.18 | |
Finance costs | 6,866,453.65 | 14,938,487.14 | |
Including: Interest expense | 8,136,483.44 | 16,759,615.26 | |
Interest income | 1,317,900.59 | 2,670,419.83 | |
Add: Other gains | 976,053.96 | 898,490.53 | |
Gain from investment (Loss | |||
represented in "-" signs) | 1,467,511.42 | 52,015,074.39 | |
Including: Investment revenue in | |||
associates and joint | |||
ventures | 1,966,111.42 | 2,015,074.39 | |
Gain on derecognition | |||
of financial asset | |||
measured at the | |||
amortized cost | |||
Gain from net exposure hedges | |||
(Loss represented in "-" signs) | |||
Gain on fair value changes (Loss | |||
represented in "-" signs) | |||
Credit impairment loss (Loss | |||
represented in "-" signs) | 285,347.66 | 7,120.76 | |
Asset impairment loss (Loss | |||
represented in "-" signs) | |||
Gain on disposal of assets (Loss | |||
represented in "-" signs) | 9,307.60 | 1,333,517.34 | |
- 12 -
II. | Operating profit | ||||
(Loss represented in "-" signs) | 76,991.03 | 41,699,180.66 | |||
Add: Non-operating income | 705,984.27 | 8,425.99 | |||
Less: Non-operating expenses | 121,514.14 | 11,716.31 | |||
III. | Total profit | ||||
(Total loss represented in "-" signs) | 661,461.16 | 41,695,890.34 | |||
Less: Income tax expenses | 37,303.15 | -366,881.04 | |||
IV. | Net profit | ||||
(Net loss represented in "-" signs) | 624,158.01 | 42,062,771.38 | |||
(1) | Net profit from continuing | ||||
operations (Net loss represented | |||||
in "-" signs) | 624,158.01 | 42,062,771.38 | |||
(2) | Net profit from discontinued | ||||
operations (Net loss represented | |||||
in "-" signs) | |||||
V. | Other comprehensive income, net of | ||||
tax | |||||
(1) | Items cannot be reclassified to | ||||
profit and loss | |||||
1. | Changes arising from | ||||
remeasurement of | |||||
defined benefit plan | |||||
2. | Other comprehensive | ||||
income that cannot be | |||||
reclassified into profit | |||||
or loss under the equity | |||||
method | |||||
3. | Changes in fair value of | ||||
other equity instrument | |||||
investments | |||||
4. | Change in fair value due | ||||
to enterprise's own credit | |||||
risk | |||||
5. | Others | ||||
- 13 -
- Items can be reclassified to profit and loss
- Other comprehensive income that can be reclassified into profit or loss under the equity method
- Changes in fair value of other debt investment
- Amount of financial assets reclassified into other comprehensive income
- Credit impairment provisions for other debt investments
- Reserves for cash flow hedge
- Exchange difference on translation of financial statement in foreign currency
- Others
VI. | Total comprehensive income | 624,158.01 | 42,062,771.38 |
VII. Earnings per share:
- Basic earnings per share
- Diluted earnings per share
- 14 -
5. CONSOLIDATED CASH FLOW STATEMENT FOR THE REPORTING PERIOD
Unit: RMB | |||
For the three months ended | For the three months ended | ||
Item | 31 March 2021 | 31 March 2020 | |
(unaudited) | (unaudited) | ||
I. | Cash flows from operating activities: | ||
Cash received from sales of goods | |||
and rendering of services | 827,435,292.53 | 797,080,452.41 | |
Net increase in customer deposits | |||
and interbank deposits | |||
Net increase in borrowings from | |||
central bank | |||
Net increase in placements from | |||
other financial institutions | |||
Cash received from original | |||
insurance contract premium | |||
Net cash received from reinsurance | |||
business | |||
Net increase in deposits and | |||
investments from policyholders | |||
Cash received from interest, handling | |||
charges and commission | 1,383,749.94 | 1,379,999.93 | |
Net increase in placements from | |||
banks and other financial | |||
institutions | |||
Net increase in cash from repurchase | |||
business | |||
Net cash received from securities | |||
brokerage services | |||
Refund of taxes and levies | 6,166,646.48 | 13,812,207.64 | |
Other cash receipts relating to | |||
operating activities | 5,116,183.51 | 8,900,329.75 | |
Sub-total of cash inflows from operating | |||
activities | 840,101,872.46 | 821,172,989.73 | |
Cash paid for goods and services | 542,606,114.06 | 383,448,005.72 | |
Net increase in customer loans and | |||
advances | |||
Net increase in deposits with central | |||
bank and other banks | |||
- 15 -
Cash paid for compensation under | ||
original insurance contract | ||
Net increase in placements with | ||
banks and other financial | ||
institutions | ||
Cash paid for interests, handling | ||
charges and commissions | ||
Cash paid for policyholders' | ||
dividend | ||
Cash paid to and on behalf of | ||
employees | 157,002,456.37 | 126,883,128.23 |
Payments of taxes and levies | 52,421,504.06 | 65,842,520.76 |
Other cash payments relating to | ||
operating activities | 37,187,363.74 | 11,268,193.75 |
Sub-total of cash outflows from operating | ||
activities | 789,217,438.23 | 587,441,848.46 |
Net cash flows from operating activities | 50,884,434.23 | 233,731,141.27 |
- Cash flows from investing activities: Cash received from investments
Cash received from returns on investments
Net cash received from disposal of | ||
fixed assets, intangible assets and | ||
other long-term assets | 919,439.65 | 301,794.29 |
Net cash received from disposal of | ||
subsidiaries and other operating | ||
units | ||
Other cash receipts relating to | ||
investing activities | ||
Sub-total of cash inflows from investing | ||
activities | 919,439.65 | 301,794.29 |
Cash paid to acquire fixed assets, | ||
intangible assets and other | ||
long-term assets | 248,876,086.08 | 139,483,167.73 |
Cash paid on investments | 4,415,671.23 | 18,550,000.00 |
Net increase in pledged loans | ||
Net cash paid on acquisition of | ||
subsidiaries and other operating | ||
unit | ||
Other cash payments relating to | ||
investing activities | 21,067,070.05 |
- 16 -
Sub-total of cash outflows from investing | |||
activities | 274,358,827.36 | 158,033,167.73 | |
Net cash flows from investing activities | -273,439,387.71 | -157,731,373.44 | |
III. | Cash flows from financing activities: | ||
Cash received from financing | 22,050,000.00 | ||
Including: Cash received by | |||
subsidiaries from | |||
investment from | |||
minority shareholders | 22,050,000.00 | ||
Cash received from borrowings | 1,189,919,426.19 | 1,104,176,572.00 | |
Cash received from other financing | |||
activities | |||
Sub-total of cash inflows from financing | |||
activities | 1,189,919,426.19 | 1,126,226,572.00 | |
Cash payments for settlement of | |||
borrowings | 1,059,564,781.80 | 942,565,612.48 | |
Cash payments for distribution | |||
of dividend, profit or interest | |||
expenses | 29,787,365.64 | 65,340,406.33 | |
Including: Cash payments for | |||
distribution of | |||
dividends and profit by | |||
subsidiaries to minority | |||
shareholders | |||
Other cash payments relating to | |||
financing activities | |||
Sub-total of cash outflows from financing | |||
activities | 1,089,352,147.44 | 1,007,906,018.81 | |
Net cash flows from financing activities | 100,567,278.75 | 118,320,553.19 | |
IV. | Effect of foreign exchange rate | ||
changes on cash and cash equivalents | -8,765.89 | -1,753,773.07 |
- Net increase in cash and cash
equivalents | -121,996,440.62 | 192,566,547.95 | |
Add: Balances of cash and cash | |||
equivalents at beginning of | |||
period | 653,578,988.47 | 1,096,743,745.12 | |
VI. | Balances of cash and cash | ||
equivalents at end of period | 531,582,547.85 | 1,289,310,293.07 |
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6. CASH FLOW STATEMENT OF THE COMPANY FOR THE REPORTING PERIOD
Unit: RMB | ||
For the three months ended | For the three months ended | |
Item | 31 March 2021 | 31 March 2020 |
(unaudited) | (unaudited) |
- Cash flows from operating activities:
Cash received from sales of goods | ||
and rendering of services | 88,465,966.59 | 76,814,828.81 |
Refund of taxes and levies | 12,547.94 | 104,996.80 |
Other cash receipts relating to | ||
operating activities | 748,691,140.76 | 1,253,397,758.64 |
Sub-total of cash inflows from operating | ||
activities | 837,169,655.29 | 1,330,317,584.25 |
Cash paid for goods and services | 42,884,890.29 | 30,817,891.97 |
Cash paid to and on behalf of | ||
employees | 23,165,300.41 | 15,648,075.42 |
Payments of taxes and levies | 1,966,742.12 | 1,350,663.59 |
Other cash payments relating to | ||
operating activities | 963,565,481.58 | 1,471,179,099.47 |
Sub-total of cash outflows from operating | ||
activities | 1,031,582,414.40 | 1,518,995,730.45 |
Net cash flows from operating activities | -194,412,759.11 | -188,678,146.20 |
- Cash flows from investing activities: Cash received from investments
Cash received from returns on | ||
investments | 50,000,000.00 | |
Net cash received from disposal of | ||
fixed assets, intangible assets and | ||
other long-term assets | 146,738.68 | 245,577.87 |
Net cash received from disposal of | ||
subsidiaries and other operating | ||
units | ||
Other cash receipts relating to | ||
investing activities | ||
Sub-total of cash inflows from investing | ||
activities | 146,738.68 | 50,245,577.87 |
Cash paid to acquire fixed assets, | ||
intangible assets and other | ||
long-term assets | 3,467,137.80 | 2,837,759.32 |
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Cash paid on investments | 4,415,671.23 | 117,300,000.00 | |
Net cash paid on acquisition of | |||
subsidiaries and other operating | |||
unit | |||
Other cash payments relating to | |||
investing activities | 21,067,070.05 | ||
Sub-total of cash outflows from investing | |||
activities | 28,949,879.08 | 120,137,759.32 | |
Net cash flows from investing activities | -28,803,140.40 | -69,892,181.45 | |
III. | Cash flows from financing activities: | ||
Cash received from financing | |||
Cash received from borrowings | 1,049,000,000.00 | 1,008,389,500.00 | |
Cash received from other financing | |||
activities | |||
Sub-total of cash inflows from financing | |||
activities | 1,049,000,000.00 | 1,008,389,500.00 | |
Cash payments for settlement of | |||
borrowings | 1,017,489,500.00 | 631,212,000.00 | |
Cash payments for distribution | |||
of dividend, profit or interest | |||
expenses | 8,136,483.44 | 41,916,520.38 | |
Other cash payments relating to | |||
financing activities | |||
Sub-total of cash outflows from financing | |||
activities | 1,025,625,983.44 | 673,128,520.38 | |
Net cash flows from financing activities | 23,374,016.56 | 335,260,979.62 | |
IV. | Effect of foreign exchange rate | ||
changes on cash and cash equivalents |
- Net increase in cash and cash
equivalents | -199,841,882.95 | 76,690,651.97 | |
Add: Balances of cash and cash | |||
equivalents at beginning of period | 522,518,784.13 | 578,025,911.40 | |
VI. | Balances of cash and cash | ||
equivalents at end of period | 322,676,901.18 | 654,716,563.37 |
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During the Reporting Period, the Company recorded operating revenue of RMB751 million, representing
- year-on-yearincrease of 14.19%, which was mainly due to the Company's increased efforts in market development to consolidate its market position, and that it has collected a total of over 140,000 tons of hazardous waste in the first quarter, representing a year-on-year increase of over 25%. In particular, sales revenue from recycling product amounted to approximately RMB299 million, representing a year-on-year increase of 50.11%, which was mainly attributable to increase in copper prices and sales volume. Revenue from harmless treatment business amounted to RMB314 million, representing a year-on-year increase of 4.74%. Despite the year-on-year increase of 24.7% in the size of harmless collection, the growth in revenue was slower than the growth in size due to decrease in prices of harmless disposal.
The year-on-year increase in total operating cost of the Company was mainly due to the increase in procurement costs and the increase in depreciation on fixed assets transferred from construction in progress beginning from this year. Due to further intensified market competition, the Company continued to enhance its market development efforts, strengthened its business brand promotion and management, and continued to increase its investment in research and development to accelerate product research and development and innovation of technology and management.
During the Reporting Period, the Company's net profit recorded a year-on-year decrease, which was mainly attributable to the decrease in gross profit of the Company's main business as a result of the significant decrease in prices of collection and transportation of hazardous waste harmless disposal business due to intensified market competition.
In order to respond to the changes in competitive landscape, strengthen core competitiveness, enhance market position and expand market share, the Company will provide comprehensive environmental protection services with focus on the demand of customers, improve service standards and customer retention, and accelerate the expansion of domestic and overseas markets; comprehensively strengthen budget management, strictly control costs and expenses; deepen the standardized management of the entire production operation process, facilitate the information-based construction of intelligent factory project and the launch of hazardous waste operation management system; optimize financing channels and further reduce financial expenses.
Shareholders and investors of the Company should refer to the 2021 First Quarterly Report set out in the Announcement for more details.
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The board of directors, supervisory committee and the directors, supervisors and senior management of the Company undertake that the 2021 First Quarterly Report does not contain any false information, misleading statements or material omission, and severally and jointly accept full responsibility for the truthfulness, accuracy and completeness of the contents contained in the 2021 First Quarterly Report.
The financial information for the three months ended 31 March 2021 set out above is unaudited and prepared in accordance with the PRC Accounting Standards of the People's Republic of China.
By order of the Board
Dongjiang Environmental Company Limited*
Tan Kan
Chairman
Shenzhen, the PRC, 28 April 2021
As at the date of this announcement, the board of directors of the Company comprises two executive Directors, being Mr. Tan Kan and Mr. Lin Peifeng; three non-executive Directors, Mr. Tang Yi, Ms. Shan Xiaomin and Mr. Jin Yongfu and three independent non-executive Directors, being Mr. Li Jinhui, Mr. Siu Chi Hung and Ms. Guo Suyi.
* For identification purposes only
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Dongjiang Environmental Company Limited published this content on 28 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2021 22:18:01 UTC.
