[一季报]京粮B:2021年第一季度报告全文（英文版）
原标题:京粮B:2021年第一季度报告全文（英文版） HAINAN JINGLIANG HOLDINGS CO., LTD. FIRST QUARTER LY REPORT 2021 April 2021 Part I Important Notes The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors, supervisors and senior management of Hainan Jingliang Holdings Co., Ltd. (hereinafter referred to as the “Company” ) hereby guarantee the factuality, accuracy and completeness of the contents of this Report and its summary, and shall be jointly and severally liable for any misrepresentations, misleading statements or material omissions therein. All the Company’s direc tors have attended the Board meeting for the review of this Report and its summary . Li Shaoling, the Company’s legal representative, Guan Ying, the Company’s head for financial affairs, and Liu Quanli, head of the Company’s financial department (equivalent to financial manager) hereby guarantee that the Financial Statements carried in this Report are factual, accurate and complete. This Report and its summary have been prepared in both Chinese and English. Should there be any discrepancies or misun derstandings between the two versions, the Chinese versions shall prevail. Part II Key Corporate Information I Key Financial Information Indicate by tick mark whether there is any retrospectively restated datum in the table below. □ Yes √ No Q1 2021 Q1 2020 Change (%) Operating revenue (RMB) 2,338,783,061.35 1,719,261,111.71 36.03% Net profit attributable to the listed company’s shareholders (RMB) 36,585,077.36 27,655,045.32 32.29% Net profit attributable to the listed company’s shareholders before exceptional items (RMB) 32,694,567.66 23,730,342.72 37.78% Net cash generated from/used in operating activities (RMB) 274,757,224.16 328,948,834.32 - 16.47% Basic earnings per share (RMB/share) 0.05 0.04 25.00% Diluted earnings per share (RMB/share) 0.05 0.04 25.00% Weighted average return on equity (%) 1.34% 1.14% 0.20% 31 March 2021 31 December 2020 Change (%) Total assets (RMB) 5,684,487,935.29 5,695,504,493.73 - 0.19% Equity attributable to the listed company’s shareholders (RMB) 2,747,216,903.27 2,710,571,543.53 1.35% Exceptional gains and losses: √ Applicable □ Not applicable Unit: RMB Item Q1 2021 Note Gain or loss on disposal of non - current assets (inclusive of impairment allowance write - offs) 123,210.12 Government grants through profit or loss (exclusive of government grants given in the Company’s ordin ary course of business at fixed quotas or amounts as per the government’s uniform standards) 406,977.39 Gain or loss on fair-value changes on held-for-trading and derivative financial assets and liabilities & income from disposal of held-for-trading and derivative financial assets and liabilities and other debt investments (exclusive of the effective portion of hedges 4,619,547.66 that arise in the Company’s ordinary course of business) Non - operating income and expense other than the above 97,845.34 Project confirmed with the definition of non - recurring gains and losses 28,548.78 Less: Income tax effects 1,319,032.32 Non - controlling interests effects (net of tax) 66,587.27 Total 3,890,509.70 -- Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public — Exceptional Gain/Loss Items: □ A pplicable √ Not applicable No such cases for the Reporting Period. II Total Number of Shareholders and Holdings of Top 10 Shareholders at 31 March 2021 1. Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well as Holdings of Top 10 Shareholders Unit: share Number of ordinary shareholders at the period - end 68,418 Number of preferred shareholders with resumed voting rights at the period - end (if any) 0 Top 10 shareholders Name of shareholder Nature of shareholder Shareholdin g percentage Total shares held Restricted shares held Shares in pledge or frozen Status Shares BEIJING GRAIN GROUP CO., LTD. State - owned legal person 39.68% 288,439,561 164,877,598 BEIJI NG STATE - OWNED CAPITAL OPERATION AND MANAGEMENT CENTER State - owned legal person 6.67% 48,510,460 0 WANG YUECHENG Domestic natural person 5.66% 41,159,887 41,159,887 LI SHERYN ZHAN MING Foreign natural person 1.23% 8,930,000 0 GOLD BUFFALO RUNYING (TIANJIN) EQUITY INVESTMENT FUND MANAGEMENT CO., LTD. — GOLD BUFFALO Other 0.40% 2,889,803 0 RUNYING (TIANJIN) EQUITY INVESTMENT FUND (L.P.) MEI JIANYING Domestic natural person 0.36% 2,604,203 0 ZHANG XIAOXIA Domestic natural person 0.27% 1,949,250 0 WANG XIAOXING Domestic natural person 0.23% 1,691,200 0 TAN WENQIONG Domestic natural person 0.20% 1,474,700 0 ORIENT SECURITIES （ HONG KONG ） LIMITED Foreign corporation 0.18% 1,330,400 0 Top 10 unrestricted shareholders Name of shareholder Unrestricted shares held Shares by type Type Shares BEIJING GRAIN GROUP CO., LTD. 123,561,963 RMB - denominate d ordinary stock 123,561,963 BEIJING STATE - OWNED CAPITAL OPERATION AND MANAGEMENT CENTER 48,510,460 RMB - denominate d ordinary stock 48,510 ,460 LI SHERYN ZHAN MING 8,930,000 Domestically listed foreign stock 8,930,000 GOLD BUFFALO RUNYING (TIANJIN) EQUITY INVESTMENT FUND MANAGEMENT CO., LTD. — GOLD BUFFALO RUNYING (TIANJIN) EQUITY INVESTMENT FUND (L.P.) 2,889,803 RMB - denominate d ordinary sto ck 2,889,803 MEI JIANYING 2,604,203 RMB - denominate d ordinary stock 2,604,203 ZHANG XIAOXIA 1,949,250 Domestically listed foreign stock 1,949,250 WANG XIAOXING 1,691,200 RMB - denominate d ordinary stock 1,691,200 TAN WENQIONG 1,474,700 RMB - denominate d ord inary stock 1,474,700 ORIENT SECURITIES （ HONG KONG ） LIMITED 1,330,400 Domestically listed foreign stock 1,330,400 YANG SHULING 1,122,900 RMB - denominate d ordinary stock 1,122,900 Related or acting - in - concert parties among the ① Beijing State - Owned Capital Operation and Management Center owns shareholders above 100% of Beijing Grain Group Co., Ltd., and Beijing Grain Group Co., Ltd. is the controlling shareholder of the Company (a 39.68% holding). ② Wang Yuecheng is a Deputy General Manager of the Company. Apart from the aforesaid, the Company does not know whether there are any other related parties or acting - in - concert parties among the top 10 shareholders. Top 10 shareholders engaged in securities margin trading (if any) Shareholder Wang Xiaoxing held 1,691,200 shares in the Company through his account of collateral securities for margin trading in Soochow Securities Co., Ltd. Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary shareholders of the Company conducted any promissory repo during the Reporting Period. □ Ye s √ No No such cases in the Reporting Period. 2. Number of Preferred Shareholders and Shareholdings of Top 10 of Them □ Applicable √ Not applicable Part III Significant Events I Changes in Key Financial Statement Line Items and Explanation of why √ Applicable □ Not applicable 1. Monetary assets increased primarily driven by an increase in sales revenue received in the oils business in the current period. 2. Held-for-trading financial assets increased primarily driven by the purchase of wealth management products with part of the amount arising from the redemption of investments in cash management products upon maturity in the current period. 3. Derivative financial liabilities decreased primarily driven by changes in the fair value of hedge instruments in the Current Period. 4. Total revenues increased primarily driven by rising product prices and unit sales in the Current Period. 5. R&D expense increased primarily driven the cost rising by more new product development projects in the Current Period. 6. Finance costs decreased primarily driven by decreases in ex change losses and interest expense in the Current Period. 7. Other income increased primarily driven by an increase in VAT rebates in the Current Period. 8. Gain on fair value changes increased primarily driven by changes in the value of futures contract s in the current period. 9. Net cash generated from investing activities decreased primarily driven by an increase in investments in wealth management products. 10. Net cash generated from financing activities decreased primarily driven by a decrease in new borrowings in the current period. II Progress, Influence and Solutions with regard to Significant Events √ Applicable □ Not applicable Summary of the significant event Disclosure date Index to the related announcement The Company signed the Joint Venture and Cooperation Agreement on Yueyang Oil Processing Project and the Articles of 5 January 2021 Announcement No. 2021 - 0 04 of Hainan Jingliang Holdings Co., Ltd. on Progress Association of Jingliang (Yueyang) Grains & Oils Industries Co., Ltd . with Sinograin Oils Co., Ltd. on 31 December 2020. This external investment has been approv ed by Beijing Capital Agribusiness & Foods Group Co., Ltd. During the Reporting Period, Sinograin Oils Co., Ltd., upon internal decisions, obtained the approval of China Grain Reserves Group Ltd. Company. Subsequently, both parties will actively go through the paper work for the establishment of the joint venture. of Yueyang Oil Base Project disclosed on www.cninfo.com.cn . On 6 April 2021, the Company signed the Cooperation Framework Agreement with SDIC Traffic Holding Co., Ltd. and China Grain Res erves Group Ltd. Guangzhou Branch in Beijing, reaching an agreement on cooperation in grain storage, logistics and processing at SDIC Yangpu Port, Yangpu Economic Development Zone, Hainan Province. 8 April 2021 Announcement No. 2021 - 0 20 of Hainan Jingliang Holdings Co., Ltd. on Signing the Cooperation Framework Agreement disclosed on www.cninfo.com.cn . Progress of any share repurchases: □ Applicable √ Not applicable Progress of any reduction of the repurchased shares through centralized bidding: □ Applicable √ Not applicable III Commitments that the Company’s Actual Controller, Shareholders, Related Parties, Acquirers, the Company Itself or Other Parties, Failed to Fulfill on Time during the Reporting Period □ Applicable √ Not applicable No such cases in the Reporting Period. IV Financial Investments 1. Securities Investments √ Applicable □ Not applicable Unit: RMB Type of securit ies Code of securitie s Name of securities Initi al inve stme nt cost Accoun ting measur ement model Begin ning carryi ng value Gain/los s on fair - valu e changes in the current period Cumulat ive fair - valu e changes through equity Purchased in the current period Sold in the current period Gain/los s in the current period Ending carrying value Accou nting title Fundin g source Other 204001 GC001 Cost method 1,980,700,00 0.00 1,980,700,00 0.00 275,836 .11 0.00 Other Self - ra ised Total 0.00 -- 0.00 0.00 0.00 1,980,700,00 0.00 1,980,700,00 0.00 275,836 .11 0.00 -- -- Disclosure date of announcement on Board’s consent for securities investment 27 March 2021 Disclosure date of announcement on shareholders’ meeting’s consent for securities investment (if any) N/A 2. Investments in Derivative Financial Instruments √ Applicable □ Not applicable Unit: RMB’0,000 Type of derivative financial instrument Start date End date Beginning investment Ending investment Ending investment as % of the Company’s ending net assets Actual gain/loss in Reporting Period Agricultural product future contract 1 January 2021 31 March 2021 25,014. 3 6 23,798.9 8.66% - 20,727.38 Foreign exchange forwards 1 January 2021 31 March 2021 13,336.81 40,543.15 14.76% - 18.51 Total -- -- 38,35 1.1 7 64,342.05 23.42% - 20,745.89 Funding source The Company's own funds are used in commodity derivatives transactions; in foreign exchange derivatives transactions, the Company's comprehensive bank cr edit line or margin for trading is mainly used. Principal delivery or differential delivery is adopted at maturity. Legal matters involved (if applicable) N/A Disclosure date of the announcement about the board’s consent for the securities investment (i f any) 27 March 2021 Disclosure date of the announcement about the general meeting’s consent for the securities 17 April 2021 investment (if any) Risk analysis and control measures in respect of derivative investments held in the Reporting Period (includ ing but not limited to market risk, liquidity risk, credit risk, operational risk, legal risk, etc.) The Company's main purpose of conducting commodity derivatives transactions and foreign exchange derivatives transactions is to hedge and lock in exchange rates, other than for speculation purposes. Existing risks include but are not limited to market risk, liquidity risk, price fluctuation risk and internal control risk. In this regard, the Company has adopted the following risk control measures: 1) The dev elopment of derivatives trading business is based on normal production and operation; 2) the Company has formulated the Management Policy of Hainan Jingliang Holdings Co., Ltd. on Commodity Derivatives Transactions and the Management Policy of Hainan Jingl iang Holdings Co., Ltd. on Financial Derivatives Transactions to control transaction risks; 3) own funds are reasonably allocated for hed ging business. In principle, the Company purchases options contracts only. The asset scale of futures and options is strictly controlled. The margin is planned and used reasonably; 4) the Company is only allowed to conduct foreign exchange derivatives trading business with banks and financial institutions that are approved by regulatory authorities and eligib le for foreign exchange derivatives trading business, other than with other organizations or individuals, so as to prevent customer default risks. During the Reporting Period, gains and losses of commodity derivatives transactions offset the gains and loss es of hedged items (spot agricultural products). Changes in market prices or fair value of derivative investments in the Reporting Period (fair value analysis should include measurement method and related assumptions and parameters) The value of the Company’s future contracts changed according to the contract prices declared by the future exchange, which were broadly representative. And the fair value of the Company’s future contracts was executed in strict compliance with the future exchange’s settlement methods. Significant changes in accounting policies and specific accounting principles adopted for derivative investments in the Reporting Period compared to the last reporting period N/A Opinion of independent directors on derivative investments and risk control Opinion of independent directors on commodity derivatives transactions : the Company has formulated the Management Policy of Hainan Jingliang Holdings Co., Ltd. on Commodity Derivat ives Transactions , which can effectively normalize commodity derivatives transaction behaviors and control transaction risks. Based on normal production and operation, the Company properly uses derivative financial instruments to effectively offset operati on risks. It is agreed that the Company will conduct commodity derivatives transactions in 2021. Opinion of independent directors on foreign exchange derivatives trading business : after check, the relevant decision - making procedures for the Company and it s majority - owned subsidiaries to conduct foreign exchange derivatives trading business are in compliance with relevant national laws, regulations and the governing provisions of the Articles of Association after verification. Based on normal production and operation, the Company uses foreign exchange derivatives instruments to reduce exchange rate risks and help to enhance financial soundness. There is no harm to the interests of the Company and all other shareholders, especially minority shareholders. The Company has established the Management Policy of Hainan Jingliang Holdings Co., Ltd. on Financial Derivatives Transactions , which helps to enhance the trading risks control. It is agreed that the Company and its majority - owned subsidiaries will conduct for eign exchange derivative trading business within the consideration amount. V Progress of Projects Financed with Raised Funds □ Applicable √ Not applicable VI Operating Performance Forecast for January-June 2021 Warning of a forecast loss on or a forecast significant year - on - year change in the accumulative net profit from the beginning of the year to the end of the next reporting period , as well as explanation of why: □ Applicable √ Not applicable VII Significant Contracts Arising from the Company’s Ordinary Course of Business □ Applicable √ Not applicable VIII Cash Entrusted for Wealth Management √ Applicable □ Not applicable Unit: RMB’0,000 Type Funding source Amount Undue amount Unrecovered overdue amount Bank’s wealth management product Self - funded 2,300 1,000 0 Broker’s wealth management product Idle raised funds 28,000 0 0 Total 30,300 1,000 0 High - risk wea lth management transactions with a significant single amount, or with low security, low liquidity or no principal protection: □ Applicable √ Not applicable Wealth management transactions with possible impairments including an expectedly unrecoverable prin cipal: □ Applicable √ Not applicable IX Irregularities in the Provision of Guarantees □ Applicable √ Not applicable No such cases in the Reporting Period. X Occupation of the Company’s Capital by the Controlling Shareholder or any of Its Related Parties for Non-Operating Purposes □ Applicable √ Not applicable No such cases in the Reporting Period. XI Communications with the Investment Community such as Researches, Inquiries and Interviews Received during the Reporting Period □ Applicable √ Not applicable No such cases in the Reporting Period. Part IV Financial Statements I Financial Statements 1. Consolidated Balance Sheet Prepared by Hainan Jingliang Holdings Co., Ltd. 31 March 202 1 Unit: RMB Item 31 March 2021 31 December 2020 Current assets: Monetary assets 638,272,610.63 335,466,169.61 Settlement reserve Interbank loans granted Held - for - trading financial assets 180,350,671.73 63,478,071.73 Derivative financial assets Notes receivable 348,845.25 456,565.85 Accounts receivable 79,755,021.15 92,245,667.60 Accounts receivable financing Prepayments 352,445,575.71 282,343,218.05 Premiums receivable Reinsurance receivables Receivable reinsurance contract reserve Other receivables 363,447,586.33 541,905,656.97 Including: Interest receivable Dividends receivable Financial assets purchased under resale agreements Inventories 1,149,368,193.12 1,225,083,742.26 Contract assets Assets held for sale Current portion of non - current assets Other current assets 623,586,751.17 845,450,678.36 Total current assets 3,387,575,255.09 3,386,429,770.43 Non - current assets: Loans and advances to customers Investments in debt obligations Investments in other debt obligations Long - term receivables Long - term equity investments 217,762,487.79 217,762,487.79 Investments in other equity instruments 20,000,000.00 20,000,000.00 Other non - current financial assets Investment property 22,148,688.37 22,560,212.50 Fixed assets 1,109,204,988.73 1,131,143,854.07 Construction in progress 22,405,581.50 28,458,413.67 Productive living assets Oil and gas assets Right - of - use assets 2,484,266.44 Intangible assets 350,415,434.47 354,139,335.32 Development costs Goodwill 191,394,422.51 191,394,422.51 Long - term prepaid expense 20,543,516.72 20,529,601.50 Deferred income tax assets 3,330,952.00 3,346,814.27 Other non - current assets 337,222,341.67 319,739,581.67 Total non - current assets 2,296,912,680.20 2,309,074,723.30 Total assets 5,684,487,935.29 5,695,504,493.73 Current liabilities: Short - term borrowings 1,509,813,010.95 1,497,414,079.05 Borrowings from the central bank Interbank loans obtained Held - for - trading financial liabilities Derivative financial liabilities 204,172,909.98 371,219,136.84 Notes payable Accounts payable 64,823,024.76 75,384,075.39 Advances from customers 1,402,363.91 1,087,874.02 Contract liabilities 439,986,754.33 346,874,260.90 Financial assets sold under repurchase agreements Customer deposits and interbank deposits Payables for acting trading of securities Payables for underwriting of securities Employee benefits payable 13,838,869.45 33,345,136.94 Taxes payable 27,631,015.04 50,884,214.64 Other payables 111,293,858.63 72,292,881.24 Including: Interest payable 21,082,795.47 21,082,795.47 Dividends payable 11,013,302.88 11,013,302.88 Handling charges and commissions payable Reinsurance payable s Liabilities directly associated with assets held for sale Current portion of non - current liabilities Other current liabilities 4,956,685.90 8,319,696.79 Total current liabilities 2,377,918,492.95 2,456,821,355.81 Non - current liabilities: Insurance contract reserve Long - term borrowings Bonds payable Including: Preferred shares Perpetual bonds Lease liabilities 2,479,427.07 Long - term payables Long - term employee benefits payable 5,677,134.00 5,677,134.00 Provisions Deferred income 68,243,587.67 68,716,699.34 Deferred income tax liabilities 88,830,153.02 65,115,801.22 Other non - current liabilities Total non - current liabilities 165,230,301.76 139,509,634.56 Total liabilities 2,543,148,794.71 2,596,330,990.37 Owners’ equity: Share capital 726,950,251.00 726,950,251.00 Other equity instruments Including: Preferred shares Perpetual bonds Capital reserves 1,674,828,350.95 1,674,828,350.95 Less: Treasury stock Other comprehensive income - 302,976.28 - 363,258.66 Specific reserve Surplus reserves 122,122,436.98 122,122,436.98 General reserve Retained earnings 223,618,840.62 187,033,763.26 Total equity attributable to owners of the Company as the parent 2,747,216,903.27 2,710,571,543.53 Non - co ntrolling interests 394,122,237.31 388,601,959.83 Total owners’ equity 3,141,339,140.58 3,099,173,503.36 Total liabilities and owners’ equity 5,684,487,935.29 5,695,504,493.73 Legal representative: Li Shaoling Head for financial affairs: Guan Ying Head of the financial department: Liu Quanli 2. Balance Sheet of the Company as the Parent Unit: RMB Item 31 March 2021 31 December 2020 Current assets: Monetary assets 971,206.16 1,523,322.79 Held - for - trading financial assets Derivative financial assets Notes receivable Accounts receivable 11,784.00 11,784.00 Accounts receivable financing Prepayments 423,679.12 423,679.12 Other receivables 100,008.26 103,341.26 Including: Interest receivable Dividends receivable Inventories 3,775,954.85 3,775,954.85 Contract assets Assets held for sale Current portion of non - current assets Other current assets 2,472,089.46 2,445,772.47 Total current assets 7,754,721.85 8,283,854.49 Non - current assets: Investments in debt obligations Investments in other debt obligations Long - term receivables Long - term equity investments 2,626,437,846.24 2,626,437,846.24 Investments in other equity instruments 20,000,000.00 20,000,000.00 Other non - current financial assets Investment property 6,136,711.10 6,222,001.73 Fixed assets 2,643,065.57 2,809,083.51 Construction in progress Productive living assets Oil and gas assets Right - of - use assets Intangible assets 182,183.72 209,185.10 Development costs Goodwill Long - term prepaid expense Deferred income tax assets Other non - current assets Total non - current assets 2,655,399,806.63 2,655,678,116.58 Total assets 2,663,154,528.48 2,663,961,971.07 Current liabilities: （未完）  |