[三季报]鲁 泰Ｂ:2021年第三季度报告（英文版）
Stock Code: 000726, 200726 Stock Name: LTTC, LTTC-B Announcement No. 2021-066 Bond Code: 127016 Bond Name: LTTC Convertible Bonds LU THAI TEXTILE CO., LTD. THIRD QUARTERLY REPORT 2021 Lu Thai Textile Co., Ltd. (hereinafter referred to as the “Company”) and all the members of the Company’s Board of Directors hereby guarantee that the contents of this Report are true, accurate and complete and free of any misrepresentations, misleading statements or material omissions. Important Notes: 1. The Board of Directors, the Supervisory Committee as well as the directors, supervisors and senior management of the Company hereby guarantee that the contents of this Report are true, accurate and complete and free of any misrepresentations, misleading statements or material omissions, and collectively and individually accept legal responsibility for such contents. 2. The Company’s legal representative, chief accountant and financial manager hereby guarantee that the financial statements carried in this Report are true, accurate and complete. 3. Indicate whether the financial statements in this Report have been audited by an independent auditor. □Yes √ No I Key Financial Information (I) Key Accounting Data and Financial Indicators Indicate whether there is any retrospectively restated datum in the table below. □ Yes √ No Q3 2021 YoY change (%) Q1-Q3 2021 YoY change (%) Operating revenue (RMB) 1,346,367,447.24 24.26% 3,566,681,098.18 5.83% Net profit attributable to the listed company’s shareholders (RMB) 93,666,571.98 293.31% 247,163,916.64 158.37% Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB) 80,690,683.49 236.11% 134,972,215.57 176.47% Net cash generated from/used in operating activities (RMB) —— —— 244,668,692.51 -42.89% Basic earnings per share (RMB/share) 0.11 283.33% 0.28 154.55% Diluted earnings per share (RMB/share) 0.10 350.00% 0.26 116.67% Weighted average return on equity (%) 1.18% 1.79% 3.15% 1.91% 30 September 2021 31 December 2020 Change (%) Total assets (RMB) 12,615,024,124.06 12,129,903,960.65 4.00% Equity attributable to the listed company’s shareholders (RMB) 7,978,810,232.59 7,687,577,590.72 3.79% Note: The “Reporting Period” refers to the three month from the beginning of Q3 to the end of Q3. (II) Exceptional Gains and Losses √ Applicable □ Not applicable Unit: RMB Item Q3 2021 Q1-Q3 2021 Note Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs) -1,001,224.36 57,530,164.06 Government grants through profit or loss (exclusive of government grants continuously given in the Company’s ordinary course of business at fixed quotas or amounts as per the government’s policies and standards) 13,113,241.54 32,202,552.65 Gain or loss on fair-value changes on held-for-trading financial assets and liabilities & income from disposal of held-for-trading financial assets and liabilities and available-for-sale financial assets (exclusive of the effective portion of hedges that arise in the Company’s ordinary course of business) 1,170,947.77 40,175,751.33 Reverse of provision for impairment of accounts receivable individually conducting impairment test 878,712.55 6,265,231.54 Non-operating income and expense other than the above 1,880,760.49 474,839.57 Less: Income tax effects 2,532,803.63 20,551,317.65 Non-controlling interests effects (net of tax) 533,745.87 3,905,520.43 Total 12,975,888.49 112,191,701.07 -- Other items that meet the definition of exceptional gain/loss: □ Applicable √ Not applicable No such cases in the Reporting Period. Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss Items: □ Applicable √ Not applicable No such cases in the Reporting Period. (III) Changes in Key Financial Information and Explanation of why √ Applicable □ Not applicable Item Change (%) Main reason for change Q3 2021 Net profit attributable to the listed company’s shareholders 293.31 Along with the easing of the global pandemic, growing overseas demand resulted in a recovery in the Company’s production capacity and an increase in unit sales. Meanwhile, expenses went down. Net profit attributable to the listed company’s shareholders before exceptional gains and losses 236.11 Basic earnings per share 283.33 Increase in Q3 net profit Diluted earnings per share 350.00 Q1-Q3 2021 Net profit attributable to the listed company’s shareholders 158.37 Along with the easing of the global pandemic, growing overseas demand resulted in a recovery in the Company’s production capacity and an increase in unit sales. Meanwhile, expenses went down. Additionally, a compensation was received from the Zibo Municipal Government for acquiring the Company’s land in Zhangdian Industrial Park as reserve. Net profit attributable to the listed company’s shareholders before exceptional gains and 176.47 Along with the easing of the global pandemic, growing overseas demand resulted in a recovery in the Company’s production capacity and an increase in unit sales. Meanwhile, losses expenses went down. Net cash generated from/used in operating activities -42.89 Increase in payments for goods and services Basic earnings per share 154.55 Increase in Q1-Q3 net profit Diluted earnings per share 116.67 II Shareholder Information (I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as well as Holdings of Top 10 Shareholders Unit: share Number of ordinary shareholders at the period-end 57,728 Number of preferred shareholders with resumed voting rights at the period-end (if any) 0 Top 10 shareholders Name of shareholder Nature of shareholder Shareholding percentage Total shares held Restricted shares held Shares in pledge, marked or frozen Status Shares Zibo Lucheng Textile Investment Co., Ltd. Domestic non-state-owned corporation 15.91% 140,353,583 0 Tailun (Thailand) Textile Co., Ltd. Foreign corporation 13.40% 118,232,400 0 Central Huijin Assets Management Co., Ltd. State-owned corporation 2.30% 20,315,300 0 National Social Security Fund Portfolio 413 Domestic non-state-owned legal person 1.09% 9,660,051 0 Zhong Ou China Securities Asset Management Plan Other 0.59% 5,235,900 0 Dacheng China Securities Asset Management Plan Other 0.59% 5,235,900 0 Harvest China Securities Asset Management Plan Other 0.59% 5,235,900 0 GF China Securities Asset Management Plan Other 0.59% 5,235,900 0 China China Securities Asset Management Plan Other 0.59% 5,235,900 0 Yinhua China Securities Asset Management Plan Other 0.59% 5,235,900 0 Top 10 unrestricted shareholders Name of shareholder Unrestricted shares held Shares by type Type Shares Zibo Lucheng Textile Investment Co., Ltd. 140,353,583 RMB-denominated ordinary stock 140,353,583 Tailun (Thailand) Textile Co., Ltd. 118,232,400 Domestically listed foreign stock 118,232,400 Central Huijin Assets Management Co., Ltd. 20,315,300 RMB-denominated ordinary stock 20,315,300 National Social Security Fund Portfolio 413 9,660,051 RMB-denominated ordinary stock 9,660,051 Zhong Ou China Securities Asset 5,235,900 RMB-denominate 5,235,900 Management Plan d ordinary stock Dacheng China Securities Asset Management Plan 5,235,900 RMB-denominated ordinary stock 5,235,900 Harvest China Securities Asset Management Plan 5,235,900 RMB-denominated ordinary stock 5,235,900 GF China Securities Asset Management Plan 5,235,900 RMB-denominated ordinary stock 5,235,900 China China Securities Asset Management Plan 5,235,900 RMB-denominated ordinary stock 5,235,900 Yinhua China Securities Asset Management Plan 5,235,900 RMB-denominated ordinary stock 5,235,900 Related or acting-in-concert parties among the shareholders above Zibo Lucheng Textile Investment Co., Ltd. is the largest shareholder of the Company and the actual controller. Tailun (Thailand) Textile Co., Ltd. is the second largest shareholder as well as sponsor of foreign capital of the Company. All of other shareholders are people holding public A share or B share and the Company is not able to confirm whether there is associated relationship or concerted action among other shareholders. Top 10 shareholders engaged in securities margin trading (if any) Naught (II) Number of Preference Shareholders and Shareholdings of Top 10 of Them □ Applicable √ Not applicable III Other Significant Events □ Applicable √ Not applicable IV Quarterly Financial Statements (I) Financial Statements 1. Consolidated Balance Sheet Prepared by Lu Thai Textile Co., Ltd. 30 September 2021 Unit: RMB Item 30 September 2021 31 December 2020 Current assets: Monetary assets 2,260,956,397.82 1,400,478,034.81 Held-for-trading financial assets 71,305,416.79 268,456,216.98 Derivative financial assets Notes receivable 195,804,307.90 182,994,110.86 Accounts receivable 471,956,282.74 522,425,219.87 Receivables financing 57,654,544.01 55,150,926.34 Prepayments 60,785,534.47 19,611,775.28 Other receivables 77,877,684.03 105,710,818.69 Including: Interest receivable Dividends receivable 47,025,975.44 75,488,652.49 Financial assets purchased under resale agreements Inventories 2,138,636,176.51 1,988,968,681.64 Current portion of non-current assets 89,306,443.09 45,750,018.30 Other current assets 71,586,792.18 433,432,258.63 Total current assets 5,495,869,579.54 5,022,978,061.40 Non-current assets: Long-term receivables 41,053,183.15 Long-term equity investments 125,589,297.38 138,079,577.25 Investments in other equity instruments Other non-current financial assets 156,915,620.25 156,915,620.25 Investment property 21,587,643.74 22,263,668.85 Fixed assets 5,603,853,514.46 5,661,592,991.66 Construction in progress 299,443,972.96 356,273,197.49 Right-of-use assets 157,350,689.67 Intangible assets 365,649,497.22 373,543,480.84 Development costs Goodwill 20,563,803.29 20,563,803.29 Long-term prepaid expense 856,037.72 118,340,494.60 Deferred income tax assets 142,197,133.84 122,865,841.69 Other non-current assets 225,147,333.99 95,434,040.18 Total non-current assets 7,119,154,544.52 7,106,925,899.25 Total assets 12,615,024,124.06 12,129,903,960.65 Current liabilities: Short-term borrowings 1,072,645,623.71 930,871,008.19 Held-for-trading financial liabilities Derivative financial liabilities Notes payable Accounts payable 224,347,170.63 243,262,473.69 Advances from customers Contract liabilities 162,389,780.95 141,339,705.62 Employee benefits payable 232,684,862.24 265,648,198.38 Taxes and levies payable 15,214,370.23 36,468,978.77 Other payables 22,609,044.97 17,587,470.79 Including: Interest payable Dividends payable 441,113.64 441,113.64 Current portion of non-current liabilities 19,420,557.20 43,149,400.13 Other current liabilities 88,934,814.49 192,574,674.68 Total current liabilities 1,838,246,224.42 1,870,901,910.25 Non-current liabilities: Insurance contract reserve Long-term borrowings 692,898,178.35 495,520,342.78 Bonds payable 1,382,885,168.67 1,350,171,526.97 Lease liabilities 26,615,607.16 Long-term payables Long-term employee benefits payable 45,772,995.06 62,137,656.00 Provisions Deferred income 174,793,765.65 173,862,983.31 Deferred income tax liabilities 83,520,933.47 85,633,161.44 Other non-current liabilities Total non-current liabilities 2,406,486,648.36 2,167,325,670.50 Total liabilities 4,244,732,872.78 4,038,227,580.75 Owners’ equity: Share capital 882,421,067.00 858,132,322.00 Other equity instruments 71,384,758.82 71,386,451.81 Capital reserves 329,042,875.11 255,912,488.01 Less: Treasury stock Other comprehensive income -7,918,800.59 1,308,922.89 Specific reserve Surplus reserves 1,154,017,457.79 1,154,017,457.79 General reserve Retained earnings 5,549,862,874.46 5,346,819,948.22 Total equity attributable to owners of the Company as the parent 7,978,810,232.59 7,687,577,590.72 Non-controlling interests 391,481,018.69 404,098,789.18 Total owners’ equity 8,370,291,251.28 8,091,676,379.90 Total liabilities and owners’ equity 12,615,024,124.06 12,129,903,960.65 Legal representative: Liu Zibin The Company’s chief accountant: Zhang Hongmei The Company’s financial manager: Zhang Keming 2. Consolidated Income Statement for Q1~Q3 Unit: RMB Item Q1~Q3 2021 Q1~Q3 2020 1. Revenues 3,566,681,098.18 3,370,258,238.57 Including: Operating revenue 3,566,681,098.18 3,370,258,238.57 2. Costs and expenses 3,437,174,000.38 3,257,315,070.05 Including: Cost of sales 2,878,395,430.90 2,561,657,500.48 Taxes and levies 43,478,612.19 53,525,850.22 Selling expense 71,833,118.67 122,956,030.65 Administrative expense 224,935,595.96 272,613,531.19 Development costs 192,279,069.87 175,435,194.76 Finance costs 26,252,172.79 71,126,962.75 Including: Interest expense 47,286,720.59 55,985,780.35 Interest income 26,653,174.94 21,224,691.86 Add: Other income 32,202,552.65 52,405,567.97 Return on investment (“-” for loss) 42,609,424.69 147,917,281.51 Including: Share of profit or loss of joint ventures and associates 2,390,020.65 -3,542,003.74 Income from the derecognition of financial assets at amortized cost (“-” for loss) Exchange gain (“-” for loss) Net gain on exposure hedges (“-” for loss) Gain on changes in fair value (“-” for loss) -7,042,658.55 -143,206,715.77 Credit impairment loss (“-” for loss) 8,651,050.43 1,437,305.49 Asset impairment loss (“-” for loss) -21,801,260.48 -51,830,014.22 Asset disposal income (“-” for loss) 57,584,604.74 -384,580.81 3. Operating profit (“-” for loss) 241,710,811.28 119,282,012.69 Add: Non-operating income 3,710,317.82 4,308,532.54 Less: Non-operating expense 3,289,918.95 3,362,400.42 4. Gross profit (“-” for loss) 242,131,210.15 120,228,144.81 Less: Income tax expense 7,627,638.21 28,348,574.44 5. Net profit (“-” for net loss) 234,503,571.94 91,879,570.37 5.1 By operating continuity 5.1.1 Net profit from continuing operations (“-” for net loss) 234,503,571.94 91,879,570.37 5.1.2 Net profit from discontinued operations (“-” for net loss) 5.2 By ownership 5.2.1 Net profit attributable to owners of the Company as the parent 247,163,916.64 95,664,518.83 5.2.1 Net profit attributable to non-controlling interests -12,660,344.70 -3,784,948.46 6. Other comprehensive income, net of tax -9,185,149.27 -33,111,218.31 Attributable to owners of the Company as the parent -9,227,723.48 -33,111,218.31 6.1 Items that will not be reclassified to profit or loss 6.1.1 Changes caused by remeasurements on defined benefit schemes 6.1.2 Other comprehensive income that will not be reclassified to profit or loss under the equity method 6.1.3 Changes in the fair value of investments in other equity instruments 6.1.4 Changes in the fair value arising from changes in own credit risk 6.1.5 Other 6.2 Items that will be reclassified to profit or loss -9,227,723.48 -33,111,218.31 6.2.1 Other comprehensive income that will be reclassified to profit or loss under the equity method 6.2.2 Changes in the fair value of other debt investments 12,385.13 6.2.3 Other comprehensive income arising from the reclassification of financial assets 6.2.4 Credit impairment allowance for other debt investments 6.2.5 Reserve for cash flow hedges 6.2.6 Differences arising from the translation of foreign currency-denominated financial statements -9,240,108.61 -33,111,218.31 6.2.7 Other Attributable to non-controlling interests 42,574.21 7. Total comprehensive income 225,318,422.67 58,768,352.06 Attributable to owners of the Company as the parent 237,936,193.16 62,553,300.52 Attributable to non-controlling interests -12,617,770.49 -3,784,948.46 8. Earnings per share 8.1 Basic earnings per share 0.28 0.11 8.2 Diluted earnings per share 0.26 0.12 Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees before the combinations was RMB0.00, with the amount for the same period of last year being RMB0.00. Legal representative: Liu Zibin The Company’s chief accountant: Zhang Hongmei The Company’s financial manager: Zhang Keming 3. Consolidated Cash Flow Statement for Q1~Q3 Unit: RMB Item Q1~Q3 2021 Q1~Q3 2020 1. Cash flows from operating activities: Proceeds from sale of commodities and rendering of services 3,442,267,636.72 3,384,654,490.80 Tax and levy rebates 67,120,825.12 97,256,293.02 Cash generated from other operating activities 57,187,354.22 109,313,561.84 Subtotal of cash generated from operating activities 3,566,575,816.06 3,591,224,345.66 Payments for commodities and services 2,044,777,843.69 1,739,170,271.74 Cash paid to and for employees 1,049,865,869.62 1,136,433,434.17 Taxes and levies paid 125,523,365.24 130,625,192.23 Cash used in other operating activities 101,740,045.00 156,546,456.87 Subtotal of cash used in operating activities 3,321,907,123.55 3,162,775,355.01 Net cash generated from/used in operating activities 244,668,692.51 428,448,990.65 2. Cash flows from investing activities: Proceeds from disinvestment 1,250,970,000.00 160,131,152.08 Return on investment 49,155,061.86 146,015,342.75 Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets 1,569,053.40 2,525,374.62 Net proceeds from the disposal of subsidiaries and other business units 76,625,459.68 Cash generated from other investing activities 65,238,925.65 58,738,249.12 Subtotal of cash generated from investing activities 1,366,933,040.91 444,035,578.25 Payments for the acquisition of fixed assets, intangible assets and other long-lived assets 360,680,597.37 439,532,093.09 Payments for investments 710,870,000.00 402,215,000.00 Net increase in pledged loans granted Net payments for the acquisition of subsidiaries and other business units Cash used in other investing activities 2,385,258.55 131,357,405.75 Subtotal of cash used in investing activities 1,073,935,855.92 973,104,498.84 Net cash generated from/used in investing activities 292,997,184.99 -529,068,920.59 3. Cash flows from financing activities: Capital contributions received 80,383,350.00 50,000,000.00 Including: Capital contributions by non-controlling interests to subsidiaries 50,000,000.00 Borrowings received 1,346,412,092.55 2,791,995,350.02 Cash generated from other financing activities 174,000,000.00 Subtotal of cash generated from financing activities 1,426,795,442.55 3,015,995,350.02 Repayment of borrowings 1,033,835,751.27 2,092,750,426.79 Interest and dividends paid 76,008,078.32 185,516,027.59 Including: Dividends paid by subsidiaries to non-controlling interests 62,023,566.38 Cash used in other financing activities 13,762,509.00 160,000,000.00 Subtotal of cash used in financing activities 1,123,606,338.59 2,438,266,454.38 Net cash generated from/used in financing activities 303,189,103.96 577,728,895.64 4. Effect of foreign exchange rates changes on cash and cash equivalents 12,905,967.35 -27,748,594.23 5. Net increase in cash and cash equivalents 853,760,948.81 449,360,371.47 Add: Cash and cash equivalents, beginning of the period 1,396,530,407.47 878,559,018.92 6. Cash and cash equivalents, end of the period 2,250,291,356.28 1,327,919,390.39 (II) Adjustments to the Financial Statements 1. Adjustments to the Financial Statements at the Beginning of the First Execution Year of the New Standards Governing Leases from 2021 √ Applicable □ Not applicable Whether the Company needs to adjust items in the balance sheet at the beginning of the year √ Yes □ No Consolidated Balance Sheet Unit: RMB Item 31 December 2020 1 January 2021 Adjusted Current assets: Monetary assets 1,400,478,034.81 1,400,478,034.81 Settlement reserve Loans to other banks and financial institutions Held-for-trading financial assets 268,456,216.98 268,456,216.98 Derivative financial assets Notes receivable 182,994,110.86 182,994,110.86 Accounts receivable 522,425,219.87 522,425,219.87 Receivables financing 55,150,926.34 55,150,926.34 Prepayments 19,611,775.28 19,611,775.28 Other receivables 105,710,818.69 105,710,818.69 Including: Interest receivable Dividends receivable 75,488,652.49 75,488,652.49 Financial assets purchased under resale agreements Inventories 1,988,968,681.64 1,988,968,681.64 Contract assets Assets held for sale Current portion of non-current assets 45,750,018.30 45,750,018.30 Other current assets 433,432,258.63 433,432,258.63 Total current assets 5,022,978,061.40 5,022,978,061.40 Non-current assets: Long-term receivables 41,053,183.15 41,053,183.15 Long-term equity investments 138,079,577.25 138,079,577.25 Investments in other equity instruments Other non-current financial assets 156,915,620.25 156,915,620.25 Investment property 22,263,668.85 22,263,668.85 Fixed assets 5,661,592,991.66 5,661,592,991.66 Construction in progress 356,273,197.49 356,273,197.49 Right-of-use assets 123,826,579.05 123,826,579.05 Intangible assets 373,543,480.84 373,543,480.84 Development costs Goodwill 20,563,803.29 20,563,803.29 Long-term prepaid expense 118,340,494.60 1,406,347.76 -116,934,146.84 Deferred income tax assets 122,865,841.69 122,865,841.69 Other non-current assets 95,434,040.18 95,434,040.18 Total non-current assets 7,106,925,899.25 7,113,818,331.46 6,892,432.21 Total assets 12,129,903,960.65 12,136,796,392.86 6,892,432.21 Current liabilities: Short-term borrowings 930,871,008.19 930,871,008.19 Held-for-trading financial liabilities Derivative financial liabilities Notes payable Accounts payable 243,262,473.69 243,262,473.69 Advances from customers Contract liabilities 141,339,705.62 141,339,705.62 Employee benefits payable 265,648,198.38 265,648,198.38 Taxes and levies payable 36,468,978.77 36,468,978.77 Other payables 17,587,470.79 17,587,470.79 Including: Interest payable Dividends payable 441,113.64 441,113.64 Liabilities directly associated with assets held for sale Current portion of non-current liabilities 43,149,400.13 43,599,400.13 450,000.00 Other current liabilities 192,574,674.68 192,574,674.68 Total current liabilities 1,870,901,910.25 1,871,351,910.25 450,000.00 Non-current liabilities: Insurance contract reserve Long-term borrowings 495,520,342.78 495,520,342.78 Bonds payable 1,350,171,526.97 1,350,171,526.97 Lease liabilities 6,442,432.21 6,442,432.21 Long-term payables Long-term employee benefits payable 62,137,656.00 62,137,656.00 Provisions Deferred income 173,862,983.31 173,862,983.31 Deferred income tax liabilities 85,633,161.44 85,633,161.44 Other non-current liabilities Total non-current liabilities 2,167,325,670.50 2,173,768,102.71 6,442,432.21 Total liabilities 4,038,227,580.75 4,045,120,012.96 6,892,432.21 Owners’ equity: Share capital 858,132,322.00 858,132,322.00 Other equity instruments 71,386,451.81 71,386,451.81 Capital reserves 255,912,488.01 255,912,488.01 Less: Treasury stock Other comprehensive income 1,308,922.89 1,308,922.89 Specific reserve Surplus reserves 1,154,017,457.79 1,154,017,457.79 General reserve Retained earnings 5,346,819,948.22 5,346,819,948.22 Total equity attributable to owners of the Company as the parent 7,687,577,590.72 7,687,577,590.72 Non-controlling interests 404,098,789.18 404,098,789.18 Total owners’ equity 8,091,676,379.90 8,091,676,379.90 Total liabilities and owners’ equity 12,129,903,960.65 12,136,796,392.86 6,892,432.21 Note for adjustment 2. Retrospective Restatement of Previous Comparative Data due to the First Execution of the New Standards Governing Leases from 2021 □ Applicable √ Not applicable (III) Independent Auditor’s Report Indicate by tick mark whether the financial statements above have been audited by an independent auditor. □ Yes √ No These financial statements have not been audited by such an auditor. Board of Director Lu Thai Textile Co., Ltd. 29 October 2021 中财网
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