深纺织第三季度报告全文英文版

1、-shenzhen textile (holdings) co., ltd. quarterly report for the third quarter of 2011 (full text)shenzhen textile (holdings) co., ltd.quarterly report for the third quarter of 2011 (full text)1 important notes1.1 the board of directors of the company hereby guarantees that there are no misstatement,

2、misleading representation or important omissions in this report and shall assume joint andseveral liability for the authenticity, accuracy and completeness of the contents hereof.1.2 the third quarterly report is not audited by cpa.1.3 chairman of the board of directors wang bin, general manager zhu

3、 jun and manager offinancial dept liu yi represent and warrant the financial and accounting report in the quarterly istrue and complete.2 basic information2.1 highlights of accounting data and financial indicatorsunit：rmb2011.9.302010.12.31increase /decrease（）total assets（rmb）1,695,700,128.731,655,4

4、22,298.412.43%owners equity attributable toshareholders of the listed company1,396,256,920.471,345,969,224.973.74%（rmb）stock capital（shares）336,521,849.00336,521,849.000.00%net assets per share attributable toshareholders of the listed company4.154.003.75%（yuan/shares）increase/decrease inincrease/de

5、crease inthe report periodjuly-september 2011 compared with thesame period of thelast year(%)january-september2011the report periodcompared with thesame period of thelast year(%)total turnover(rmb)178,733,950.0023.64%497,916,667.756.64%net profit attributable toshareholders of the listed company10,3

6、12,743.78-14.19%42,676,720.4715.73%（rmb）net cash flow arising from operatingactivities（rmb）net cash flow per share arising fromoperating activities（yuan/shares）31,988,590.870.10271.41%242.86%basic earnings per share（yuan/shares）diluted earnings per share（yuan/shares）0.030.03-25.00%-25.00%0.130.13-7.

7、14%-7.14%1items-shenzhen textile (holdings) co., ltd. quarterly report for the third quarter of 2011 (full text)weighted average return on equity（%）0.75%decreased by 0.39%3.12% decreased by 2.18%weighted average return on netassets after deducting non-recurring0.60%increased by 0.30%1.99% decreased

8、by 1.29%gains and losses（%）items of non-current gains and losses applicable not applicableunit：rmbnon-recurring gain and loss itemsthe gains from disposal ofnon-current assetsgovernmental subsidy accounted ascurrent gain/loss, except for thoseamount99,139.59notes（if applicable）including ： government

9、al subsidy accounted for as profits orlosses for current period includes governmental r&d subsidyof rmb 5,932,485 appropriated by shenzhen development andreform commission, national aid of rmb 750,000 for specialsubsidies at with amount or quantityfixed by the national government andclosely rela

10、ted to the companysbusiness operation.6,992,385.03project of new-type panel display industrialization, supportingfunds of rmb 150,000 for technology industrializationdemonstration project ,economic development supporting fundof rmb 85,500 received from futian chamber of commerceand loan discount of

11、rmb 74,400 .03 appropriated by shenzhenfinancial bureau,;in addition to normal business withthe company effective hedgingrelated business, holders of tradablefinancial assets, transactions andthe investment income from financial assets availablefinancial liabilities arising fromchanges in fair value

12、 gains andlosses, as well as the disposal oftrading of financial assets, tradingfinancial liabilities and1,482,128.46for sale is the income from the companys sale ofshares of shenzhen victor onward textile industrialco., ltd.available-for-sale financial assetsgains return on investment;mainly due to

13、 receipt of 1,085,733 a shares of guangdongsunrise group co., ltd. (the market value of these shares wasrmb 9,847,598.31 according to the closing price of a shares of* st sunrise on may 17, 2010 (the last trading day beforesuspension of listing), i.e., rmb 9.07 per share) and cash ofnet amount of no

14、n-operating incomeand expense except the aforesaidamount of influence of income taxtotalrmb 702,694.14 (rmb 10,550,292.45 in total as recognized10,873,223.75 non-operating income and rmb 315,936.60 in total as subwayconstruction compensation income) according to (2010) shenzhong fa min qi zhong zhen

15、 zi no. 5-5 civil award and theplan for reorganization of guangdong sun rise group co.,ltd(refer to no. 2011-39 announcement of the company fordetails-4,044,910.7815,401,966.052.2 total number of shareholders in the end of the report period and shares held by the top ten shareholders withunrestricte

16、d conditionsunit：sharestotal number of shareholders at the end of report period17,862share held by the top ten shareholders with unrestricted conditions2shenzhen textile (holdings) co., ltd. quarterly report for the third quarter of 2011 (full text)name of the shareholdershenzhen investment holdings

17、 co., ltd.zhejiang silicon valley tiantang kuncheng chuangyeinvestment co., ltd.huabao intrust co., ltd.changzhou investment group co., ltd.china opportunities h-b fundzheng bangshengchina peoples life insurance co., ltd.-dividend individualdividendchina merchants securities (hk) co., ltd.xu ruijian

18、gliu hongnumber of unconditional shares held at theperiod-end144,977,05213,555,0009,214,9532,421,4951,271,3671,169,0001,120,439953,617791,688710,000type of sharesrmb commonsharesrmb commonsharesrmb commonsharesrmb commonsharesforeign sharesplaced indomesticexchangeforeign sharesplaced indomesticexch

19、angermb commonsharesforeign sharesplaced indomesticexchangeforeign sharesplaced indomesticexchangeforeign sharesplaced indomesticexchange3 significant events3.1 particular about large-margin change of main accounting statement item and financial index and its reason. applicable not applicable1. the

20、ending balance of monetary capital decreased by rmb 398.6331 million and 48.01% over beginning of period mainly due tothe investment in the construction of phase-i project of polarizer sheet for tft-lcd in current period;2. the ending book balance of accounts receivable increased by rmb 23.8402 mill

21、ion and 49.51% over beginning of period mainlydue to increase of accounts receivable for polarizer sheet business and knitted underwear business with the growth of sales income;3. the ending balance of prepayment increased by rmb 35.8940 million and 766.78% over year-beginning balance ，the endingbal

22、ance of advance account increased by rmb 39.2141 million and 281.67% over year-beginning balance mainly due to the increaseof export trade orders at the end of current period over the same period of the previous year；4. the ending balance of other receivables decreased by rmb 16.6945 million and 55.

23、62% over beginning of period mainly due torecovery of export rebates;5. the end-of-period balance of construction in progress increased by rmb 390.8174 million over beginning of period mainly due toincrease of investment in phase-i project of polarizer sheet for tft-lcd;6. the end-of-period balance

24、of taxes and levies payable decreased by rmb 24.5930 million and 613.03% over beginning of periodmainly due to payment of value added tax on purchase for imported equipment for phase-i project of polarizer sheet for tft-lcd andother equipment purchased;7. the end-of-period balance of interest payabl

25、e increased by rmb 3.3519 million and 2175.24% over beginning of period mainly dueto increase of special loan interest payable for the phase-i project of polarizer sheet for tft-lcd;8. the end-of-period balance of non-current liabilities to become due within one year decreased by rmb 21 million and

26、100% millionmainly due to repayment of the loan;3shenzhen textile (holdings) co., ltd. quarterly report for the third quarter of 2011 (full text)9. the ending undistributed profit increased by rmb 42.6767 million and 31.48% over beginning of period, which was derived fromthe net profit for the curre

27、nt period;10. the selling expenses increased by rmb 1.724 million and 45.84% year on year mainly due to increase of sales income;11. financial expenses in current period year decreased by rmb 8.1468 million and 386.17% year on year mainly due to decrease ofexpenditure on interests on borrowings beca

28、use raised proceeds of rmb 80 million were temporarily used to supplement workingcapital and due to increase of fixed deposit interest income from raised proceeds;12. assets impairment loss in current period increased by rmb 4.8006 million and 296.88% year on year mainly due to increase ofprovision

29、for bad debts caused by business growth and increase of sales income and accounts receivable;13. investment income decreased by rmb 8.3684 million and 64.02% year on year mainly due to year-on-year decrease of sales offinancial assets available for sale through secondary market in current period;14.

30、 non-operating income increased by rmb 8.9935 million and 100.21% year on year mainly due to receipt of 1,085,733 a shares ofguangdong sunrise group co., ltd. (the market value of these shares was rmb 702,694.14 according to the closing price of a sharesof * st sunrise on may 17, 2010 (the last trad

31、ing day before suspension of listing), i.e., rmb 9.07 per share) in total as recognizednon-operating income) according to (2010) shen zhong fa min qi zhong zhen zi no. 5-5 civil award and the plan forreorganization of guangdong sun rise group co., ltd(refer to no. 2011-39 announcement of the company

32、 fordetails)；15. the tax refund received in current period increased by rmb 15.0847 million and 42.95% year on year mainly due to year-on-yearincrease of export rebates received in current period;16. other cash received relating to operating activities increased by rmb 10.5372 million and 367.79% ye

33、ar on year mainly due toreceipt of the payment from court enforcement and receipt of cash for counter-performance from the debt reorganization of guangdongsun rise group co., ltd. and collection of suspense receipts including water and electricity charges;17. the net cash flows from operating activi

34、ties in current period increased by rmb 50.6511 million and 271.41% year on year mainlydue to year-on-year increase of net cash flows from operating activities of shenzhen shengbo optoelectronic technology co., ltd. andexport rebates received;18. cash received from disposal of investments decreased

35、by rmb 8.8709 million and 83.79%year on year mainly due to year-on-yeardecrease of sales of financial assets available for sale through secondary market in current period;19. other cash received relating to investing activities in current period increased by rmb 406.0659 million year on year mainly

36、dueto writeback of fixed deposit of rmb 399.5494 million and receipt of fixed deposit interest of rmb 6.5165 million;20. the cash paid for construction of fixed assets, intangible assets and other long-term assets were rmb 323.6753million,which increased by 332.36% year on year mainly due to increas

37、e of expenditure on phase-i project of polarizer sheetfor tft-lcd;21. net increase in cash and cash equivalents in current period decreased by rmb 672.2379 million and 100.01% year on year mainlydue to proceeds were obtained through private issue in the same period of previous year.3.2 the progress

38、of significant events and influence, as well as the analysis and explanation on resolving proposal.applicable not applicable3.2.1 non-standard opinionapplicable not applicable3.2.2 the company provided funds to its controlling shareholder or related parties and provided guarantees inviolation of est

39、ablished procedures.applicable not applicable3.2.3 signing and performance of significant contracts for daily operationapplicable not applicable3.2.4 otherapplicable not applicablein the report period, the company finished the preparation of internal control manual (advanced edition), held a meeting

40、 for issue andimplementation and also completed regulations on defect report management for internal control (draft). according to the work4shenzhen textile (holdings) co., ltd. quarterly report for the third quarter of 2011 (full text)schedule of shenzhen securities regulatory bureau in respect of

41、experimental companies for internal control standardization, thecompany has completed the work of straightening out processes, making comprehensive analysis, identifying inherent risks,appraising risk levels, identifying key control activities in processes, preparing relevant internal control docume

42、nts, preparing risk listand establishing internal control defect report mechanism and entered the stage of finalizing internal control defect rectification plan.3.3 the fulfillment of the commitment made by the company , shareholders and the actual controllercompanies or shareholders holding more th

43、an 5% equity during the reporting period or thecommitments continued to the reporting period applicable not applicableitems ofcommitmentspromiseecontent of commitmentsimplementationas shenzhen investment holdings co., ltd., the controlling shareholder ofthe company, committed when the restricted-for

44、-sale shares from theshares restructuring were listed for circulation in the market: i. if they planpromise inshare holdingstructurereformshenzheninvestmentholdings co.,ltd.to sell the shares through the securities exchange system in the future, andthe decrease of the shares they hold reaches 5% wit

45、hin 6 months after thefirst decrease, they will disclose an announcement indicating the salethrough the company within two trading days before the first decrease; ii.they shall strictly observe the “guidelines on transfer ofunder fulfillment.restricted-for-sale original shares of listed companies” a

46、nd theprovisions of the relevant business principles of shenzhen stockexchange.commitmentsmade inacquisitionreport orn/an/an/areports onchange ininterestscommitmentsmade inmaterial assetsn/an/an/areorganizationshenzhen investment holdings co., ltd. signed a “letter of commitmentand statement on hori

47、zontal competition avoidance” when the companyissued non-public stocks in 2010. pursuant to the letter of commitmentand statement, shenzhen investment holdings co., ltd. and its whollyowned subsidiary, subsidiaries under control or any other companies thathave actual control of it shall not be invol

48、ved in the business the same asor similar to those shenzhen textile currently or will run in the future, orshenzhencommitments investmentmade in issuing holdings co.,ltd.any businesses or activities that may constitute direct or indirectcompetition with shenzhen textile; if the operations of shenzhe

49、ninvestment holdings co., ltd. and its wholly owned subsidiaries,subsidiaries under control or other companies that have actual control of itcompete with shenzhen textile in the same industry or contradict theunder erest of the issuer in the future, shenzhen investment holdings co., l

50、td.shall urge such companies to sell the equity, assets or business to shenzhentextile or a third party; when the horizontal competition may occur due tothe business expansion concurrently necessary for shenzhen investmentholdings co., ltd. and its wholly owned subsidiaries, subsidiaries undercontro

51、l or other companies that have actual control of it and shenzhentextile, shenzhen textile shall have priority.othercommitmentsn/an/an/a（including:5shenzhen textile (holdings) co., ltd. quarterly report for the third quarter of 2011 (full text)supplementarycommitments）3.4 estimation of accumulative n

52、et profit from the beginning of the year to the end of next report period to be lossprobably or the warning of its material change compared with the corresponding period of the last year andexplanation of reason.applicable not applicable3.5 other significant events need to be explained3.5.1 stock in

53、vestmentapplicable not applicable3.5.2 reception of investigations, communications ,or interviews company held in the report period.datejuly-september2011placethe companymodetelephonevisitorindividualinvestorcontent of discussion and materialsprovidedthe information of the company intendsto issue st

54、ock to raise capital investmentprojects.3.6 particulars about derivatives investmentapplicable not applicable3.6.1 particulars about the positions of derivatives investment at the end of report period.applicable not applicable4 appendix4.1 balance sheetprepared by:shenzhen textile (holdings) co., lt

55、d.year-end balanceseptember 30, 2011unit：rmbyear-beginning balanceitemsconsolidatedparent companyconsolidatedparent companycurrent asset：monetary fund431,602,899.64227,538,572.04830,236,037.30483,902,800.37settlement provisionoutgoing call loantrading financial assetsbill receivable951,602.30account

56、 receivable71,988,521.7148,148,305.15prepayments40,575,106.131,387,480.004,681,130.84881,080.00insurance receivablereinsurance receivableprovisions of reinsurance6shenzhen textile (holdings) co., ltd. quarterly report for the third quarter of 2011 (full text)contracts receivableinterest receivabledi

57、vidend receivable2,203,227.002,203,227.00other account receivable13,320,540.2716,607,849.0430,015,024.7225,218,113.04repurchasing of financialassetsinventoriesnon-current asset due in 1yearother current asset60,629,788.7060,986,770.44total of current assets619,068,458.75245,533,901.08976,270,495.455

58、12,205,220.41non-current assets：loans and payment onothers behalf disburseddisposable financial asset95,173,209.4095,173,209.4075,481,853.5075,481,853.50expired investment inpossesslong-term receivablelong term share equityinvestmentproperty investmentfixed assetsconstruction in progress47,189,217.3

59、4163,191,269.02158,092,625.39546,078,306.23855,666,265.11153,255,180.3534,087,354.152,586,624.1947,250,337.33168,268,522.84166,482,617.12155,260,944.31575,727,385.10157,914,202.6934,758,106.27engineering materialfixed asset disposalproduction physical assetsgas & petrolintangible assets47,087,12

60、8.711,470,960.9848,642,431.171,763,383.44r & d petrolgoodwilllong-germ expenses to beamortized9,614,758.551,743,058.959,614,758.55897,757.98differed income tax asset8,462,096.394,530,890.657,252,580.164,339,038.67other non-current assettotal of non-current assetstotal of assets1,076,631,669.981,695,700,128