[一季报]中顺洁柔(002511):2022年第一季度报告(英文版)

时间:2022年04月27日 19:53:36 中财网

原标题:中顺洁柔:2022年第一季度报告(英文版)

Stock Code: 002511 Stock Abbreviation: ZSJR Announcement No.: 2022-15 C&S Paper Co., Ltd.
First Quarter Report 2022

The Company and all members of the Board of Directors hereby guarantee the truthfulness, accuracy and completeness of the information disclosed, and there are no false and misleading statements or material omissions.

Important Notice:
1. The Board of Directors and the Board of Supervisors of the Company and its directors, supervisors and senior management warrant that the information contained in this quarterly report is
true, accurate and complete without any false and misleading statements or material omissions, and severally and jointly accept legal liability thereof.
2. The person in charge of the Company, the person in charge of accounting of the Company, and the person in charge of the accounting department of the Company have declared that they warrant the truthfulness, accuracy and completeness of the financial statements set out in this quarterly report.
Whether the First Quarter Report has been audited
□ Yes √ No
I. Main Financial Data
(I) Main accounting data and financial indicators
Whether the Company needs to perform retrospective adjustment or restatement of accounting data for previous years
□ Yes √ No

 Current periodSame period of previous yearChanges over same period of previous year
Operating income (RMB)1,884,339,300.882,102,126,213.63-10.36%
Net profit attributable to shareholders of the listed company (RMB)133,346,264.70271,122,802.99-50.82%
Net profit attributable to shareholders of the listed company after deducting non-recurring profit and loss (RMB)126,963,097.30267,298,568.37-52.50%
Net cash flow from operating activities (RMB)247,480,435.23334,905,166.23-26.10%
Basic earnings per share (RMB/share)0.100.21-52.38%
Diluted earnings per share (RMB/share)0.100.21-52.38%
Weighted average return on net assets2.68%5.34%-2.66%
 End of current periodEnd of previous yearChanges over end of previous year
Total assets (RMB)7,319,188,356.357,523,281,973.84-2.71%
Owner's equity attributable to shareholders of the listed company (RMB)5,041,774,734.594,903,552,661.582.82%
(II) Non-recurring items and amounts
√ Applicable □ Not applicable
Unit: RMB

ItemAmount of current periodDescription
Profits/losses from the disposal of non-current asset (including the write-off that accrued for impairment of assets)-74,478.70 
Governmental grants reckoned into current profits/losses (not including grants enjoyed in quota or ration according to national standards, which are closely relevant to the company’s normal business)6,624,450.75 
Profits/losses from assets entrusted to others for investment or management180,495.09 
Other non-operating income and expenses except for the aforementioned items1,307,495.58 
Less: Influence of income tax1,654,795.32 
Total6,383,167.40--
Details of other profit and loss items that meet the definition of non-recurring profit and loss: □ Applicable √ Not applicable
The Company has no other profit and loss items that meet the definition of non-recurring profit and loss.
Descriptions where the Company defines any non-recurring profit and loss items listed in the No. 1 Explanatory Announcement on
Information Disclosure of Companies Offering Securities to the Public—Non-recurring Profit and Loss as recurring profit and loss
items during the reporting period
□ Applicable √ Not applicable
The Company did not define any non-recurring profit and loss items listed in the No. 1 Explanatory Announcement on Information
Disclosure of Companies Offering Securities to the Public—Non-recurring Profit and Loss as recurring profit and loss items during
the reporting period.
(III) Changes of main accounting data and financial indicators and reasons √ Applicable □ Not applicable
1. Balance sheet items
Notes receivable: This item recorded an increase of RMB40,596,142.46 or 1744.52% in the reporting period
compared with the end of 2021, mainly owing to the increase in bank acceptance bills received from customers
during the reporting period.
Prepayment: This item recorded a decrease of RMB13,428,114.90 or 36.60% in the reporting period compared
with the end of 2021, mainly owing to the decrease in prepayments for materials during the reporting period.
Assets held for sale: This item recorded a decrease of RMB57,073,059.69 or 100.00% in the reporting period
compared with the end of 2021, mainly owing to the decrease in the assets held for sale during the reporting
period.
Other current assets: This item recorded an increase of RMB136,445,815.47 or 110.45% in the reporting period
compared with the end of 2021, mainly owing to the increase in the principal of wealth management products
during the reporting period.
Construction work in progress: This item recorded a decrease of RMB54,916,177.38 or 40.72% in the reporting
period compared with the end of 2021, mainly owing to the fact that certain construction work in progress reached
the usable state and was thereby transferred to fixed assets during the reporting period. Short-term borrowings: This item recorded an increase of RMB38,500,000.00 or 100.00% in the reporting period
compared with the end of 2021, mainly owing to the increase in the advance discount of trade acceptance bills
during the reporting period.
Contract liabilities: This item recorded a decrease of RMB105,861,672.80 or 64.41% in the reporting period
compared with the end of 2021, mainly owing to the decrease in prepayments from customers during the reporting
period.
Employee remuneration payable: This item recorded a decrease of RMB72,938,549.57 or 52.27% in the reporting
period compared with the end of 2021, mainly owing to the release of the year-end bonus payable for the previous
year during the reporting period.
Other current liabilities: This item recorded a decrease of RMB13,776,291.85 or 64.83% in the reporting period
compared with the end of 2021, mainly owing to the decrease in the tax pending changeover during the reporting
period.
2. Income statement items
Financial expenses: This item recorded an increase of RMB1,940,083.31 or 56.85% in the reporting period
compared with the same period in 2021, mainly owing to the increase in exchange losses and gains during the
reporting period.
Other income: This item recorded an increase of RMB2,916,840.06 or 57.04% in the reporting period compared
with the same period in 2021, mainly owing to the increase in government grants received during the reporting
period.
Return on investment: This item recorded a decrease of RMB133,198.95 or 43.38% in the reporting period
compared with the same period in 2021, mainly owing to the decrease in returns on wealth management products
received during the reporting period.
Credit impairment losses: This item recorded a decrease of RMB2,205,357.17 or 46.80% in the reporting period
compared with the same period in 2021, mainly owing to the decrease in credit impairment losses accrued for
accounts receivable during the reporting period.
Asset impairment losses: This item recorded a decrease of RMB1,754,309.41 or 82.73% in the reporting period
compared with the same period in 2021, mainly owing to the decrease in impairment losses accrued for fixed
assets during the reporting period.
Non-operating income: This item recorded an increase of RMB223,979.27 or 30.42% in the reporting period
compared with the same period in 2021, mainly owing to the increase in income from fines and compensations
during the reporting period.
Income tax expenses: This item recorded a decrease of RMB31,092,273.35 or 53.66% in the reporting period
compared with the same period in 2021, mainly owing to the decrease in total profit during the reporting period.
3. Cash flow statement items
Net cash flow from investing activities: This item recorded a decrease of RMB79,427,956.29 or 62.09% in the
reporting period compared with the same period in 2021, mainly owing to the increase in payment for principal of
wealth management products during the reporting period.
Net cash flow from financing activities: This item recorded an increase of RMB302,789,234.86 or 113.05% in the
reporting period compared with the same period in 2021, mainly owing to the decrease in payment of repurchased
shares during the reporting period.
II. Shareholder Information
(I) Total number of ordinary shareholders, number of preferred shareholders whose voting rights were
resumed and shareholdings of top 10 shareholders
Unit: share

Total number of ordinary shareholders as at the end of the reporting period141,508Total number of preferred shareholders whose voting rights were resumed at the end of the reporting period (if any)0   
Shareholdings of top 10 shareholders      
Name of shareholderNature of shareholderShareholding percentage (%)Number of sharesNumber of shares subject to selling restrictionsPledged, marked or frozen
     Share statusNumber
Guangdong Zhongshun Paper Group Co., Ltd.Domestic non-state-owned legal person28.61%375,655,958   
Chung Shun Co.Foreign legal person20.30%266,504,789   
Hong Kong Securities Clearing Co., Ltd.Foreign legal person4.87%63,986,041   
Ernest Partners LLC — Client fundsForeign legal person0.79%10,402,100   
Yue YongDomestic natural person0.74%9,665,2417,248,930  
Deng YingzhongDomestic natural person0.51%6,752,8115,064,608  
# Zhongshan Xinda Investment Management Co., Ltd.Domestic non-state-owned legal person0.47%6,123,636   
Deng GuanbiaoDomestic natural person0.38%4,957,4733,718,105  
Li HongDomestic natural person0.33%4,297,300 Pledge4,200,000
#Zeng HaichunDomestic natural person0.32%4,200,000   
Shareholdings of top 10 shareholders not subject to selling restrictions      
Name of shareholderNumber of shares not subject to selling restrictionsType of shares    

  Type of sharesNumber
Guangdong Zhongshun Paper Group Co., Ltd.375,655,958RMB-denominate d ordinary shares375,655,958
Chung Shun Co.266,504,789RMB-denominate d ordinary shares266,504,789
Hong Kong Securities Clearing Co., Ltd.63,986,041RMB-denominate d ordinary shares63,986,041
Ernest Partners LLC — Client funds10,402,100RMB-denominate d ordinary shares10,402,100
# Zhongshan Xinda Investment Management Co., Ltd.6,123,636RMB-denominate d ordinary shares6,123,636
Li Hong4,297,300RMB-denominate d ordinary shares4,297,300
#Zeng Haichun4,200,000RMB-denominate d ordinary shares4,200,000
Cheng’an Asset Management Co., Ltd. — Cheng’an 99 Chuancheng No. 1 Private Equity Securities Investment Fund3,999,913RMB-denominate d ordinary shares3,999,913
#Chen Ruiqiang3,667,600RMB-denominate d ordinary shares3,667,600
ABC — CSI Smallcap 500 ETF3,658,989RMB-denominate d ordinary shares3,658,989
Description on the related relationship or parties acting-in-concert arrangements among the above shareholders1. Among the top ten shareholders mentioned above, Mr. Deng Yingzhong and Mr. Deng Guanbiao are among the actual controllers of the Company; Guangdong Zhongshun Paper Group Co., Ltd. and Chung Shun Co. are the enterprises controlled by actual controllers of the Company, i.e. Mr. Deng Yingzhong, Deng Guanbiao and Deng Guanjie. That is, Guangdong Zhongshun Paper Group Co., Ltd. and Chung Shun Co. are related parties. Mr. Yue Yong is an incumbent senior manager of the Company. 2. Except for the above situation, it is unknown to the Company whether there is related party relationship among other shareholders, or whether there is acting-in-concert among other shareholders as stipulated in the Administrative Measures for the Disclosure of Information on Changes in Shareholders' Shareholding of Listed Companies.  
Description on the top 10 shareholders’ participation in margin trading and securities lending business (if any)1. The Company’s shareholder Zhongshan Xinda Investment Management Co., Ltd. holds 6,120,602 shares through a client credit transaction guarantee securities account. 2. The Company’s shareholder Zeng Haichun holds 4,000,000 shares through a client credit transaction guarantee securities account. 3. The Company’s shareholder Chen Ruiqiang holds 843,500 shares through a client credit transaction guarantee securities account. Note: There is a special repurchase account “C&S Paper Special Repurchase Securities Account” among the top 10 shareholders. As of the end of the reporting period, this repurchase account held 26,758,987 shares, with a shareholding ratio of 2.04%. Pursuant to relevant regulations, it is not included in the list of top 10 shareholders.  
(II) Total number of preferred shareholders and shareholdings of top 10 preferred shareholders □ Applicable √ Not applicable
III. Other Significant Matters
√ Applicable □ Not applicable

No.Announcement timeAnnouncement nameAnnounce ment numberDisclosure media
1January 6, 2022Announcement on Expiration of Share Repurchase Period and Results of Share Repurchase2022-01Securities Times,
2March 1, 2022Annual Performance Bulletin 20212022-02Securities Daily, China Securities Journal, Shanghai Securities News and http://www.cni nfo.com.cn
3March 16, 2022Announcement on the Repurchase and Deregistration Completion of Partial Reserved Restricted Stocks under the 2018 Stock Option and Restricted Stock Incentive Plan2022-03 
4March 23, 2022Announcement on Reduction of Company Shares by Directors and Senior Management Through Block Transactions2022-04 
5March 25, 2022Announcement on the Resignation of the Director, the Vice President and the Representative of Securities Affairs of the Company2022-05 
6March 31, 2022Announcement on Holding Subsidiary Obtaining the High-tech Enterprise Certificate (Renewal)2022-06 
7April 1, 2022Announcement on the Company's Completion of the Industrial and Commercial Change Registration2022-07 
IV. Quarterly Financial Statements
(I) Financial statements
1. Consolidated balance sheet
Prepared by: C&S Paper Co., Ltd.
March 31, 2022
Unit: RMB

ItemBalance at the end of the periodBalance at the beginning of the period
Current assets:  
Monetary funds956,047,784.07875,052,493.12
Settlement reserve  
Lending to banks and other financial institutions  
Tradable financial assets8,884.68 
Derivative financial assets  
Notes receivable42,923,202.662,327,060.20
Accounts receivable901,200,027.821,177,831,399.28
Accounts receivable financing  
Prepayments23,257,654.8336,685,769.73
Premium receivable  
Reinsurance payables  
Reinsurance contract reserves receivable  
Other receivables14,512,618.7212,353,794.41
Including: Interest receivable  
Dividends receivable  
Financial assets held under resale agreements  
Inventory1,381,955,124.491,467,631,516.95
Contract assets  
Assets held for sale 57,073,059.69
Non-current assets due within one year  
Other current assets259,976,695.43123,530,879.96
Total current assets3,579,881,992.703,752,485,973.34
Non-current assets:  
Loans and advances to customers  
Investments in creditor’s rights  
Investments in other creditor’s rights  
Long-term receivable  
Long-term equity investment  
Investment in other equity instruments  
Other non-current financial assets  
Investment property32,779,260.6933,138,481.74
Fixed assets3,164,970,508.903,129,371,506.40
Construction work in progress79,959,519.56134,875,696.94
Productive biological assets  
Oil & gas assets  
Right-of-use assets14,538,125.1214,300,520.77
Intangible assets166,827,310.58168,453,928.11
Development expenses  
Goodwill64,654.1564,654.15
Long-term deferred expenses17,216,999.9416,762,904.09
Deferred income tax assets186,623,857.31182,185,944.85
Other non-current assets76,326,127.4091,642,363.45
Total non-current assets3,739,306,363.653,770,796,000.50
Total assets7,319,188,356.357,523,281,973.84
Current liabilities:  
Short-term borrowings38,500,000.00 
Borrowings from PBC  
Placements from banks and other financial institutions  
Tradable financial liabilities  
Derivative financial liabilities  
Notes payable400,228,927.06334,969,632.58
Accounts payable741,278,632.32829,113,780.31
Payments received in advance  
Contract liabilities58,498,770.54164,360,443.34
Proceeds from financial assets sold under repo  
Customer bank deposits and due to banks and other financial institutions  
Funds from securities trading agency  
Funds from securities underwriting agency  
Employee remuneration payable66,612,856.89139,551,406.46
Tax and fees payable96,841,478.76107,184,810.97
Other payables699,283,272.06854,872,178.78
Including: Interests payable  
Dividends payable1,352,746.201,352,746.20
Transaction fee and commission receivable  
Reinsurance payable  
Liabilities held for sale  
Non-current liabilities due within one year9,544,758.088,616,487.38
Other current liabilities7,474,321.4421,250,613.29
Total current liabilities2,118,263,017.152,459,919,353.11
Non-current liabilities:  
Insurance contract reserves  
Long-term borrowings  
Bonds payable  
Including: Preference shares  
Perpetual bonds  
Lease liabilities6,052,690.505,565,928.14
Long-term payable  
Long-term employee remuneration payable  
Provision  
Deferred income100,698,328.79104,483,429.54
Deferred income tax liabilities49,233,321.2946,514,550.50
Other non-current liabilities  
Total non-current liabilities155,984,340.58156,563,908.18
Total liabilities2,274,247,357.732,616,483,261.29
Owner's equity:  
Share capital1,312,856,093.001,312,457,555.00
Other equity instruments  
Including: Preference shares  
Perpetual bonds  
Capital reserve945,219,956.50940,742,686.19
Less: Treasury shares722,243,283.39722,243,283.39
Other comprehensive income  
Special reserves  
Surplus reserves106,984,275.42106,984,275.42
General reserves  
Retained earnings3,398,957,693.063,265,611,428.36
Total equity attributable to owners of the parent company5,041,774,734.594,903,552,661.58
Equities of minority shareholders3,166,264.033,246,050.97
Total owner's equity5,044,940,998.624,906,798,712.55
Total liabilities and owners' equities7,319,188,356.357,523,281,973.84
Legal representative: Liu Peng Person in charge of accounting: Xu Xianjing Person in charge of accounting department: Dong Ye
2. Consolidated income statement
Unit: RMB

ItemIncurred in the current periodIncurred in the prior period
I. Total Operating Income1,884,339,300.882,102,126,213.63
Including: Operating income1,884,339,300.882,102,126,213.63
Interest income  
Gross earned premiums  
Service charge and commission income  
II. Total Operating Cost1,738,812,664.251,780,296,793.30
Including: Operating costs1,266,000,074.361,251,617,377.48
Interest expenses  
Service charge and commission expenses  
Surrender value  
Net compensation expenses  
Net appropriation of insurance reserve  
Policy dividends expenses  
Reinsurance costs  
Tax and surcharges12,558,211.9914,137,632.18
Selling expenses333,729,274.14390,859,318.46
Administrative expenses79,277,066.6880,160,355.50
R&D expenses48,720,586.7746,934,742.68
Finance expenses-1,472,549.69-3,412,633.00
Including: Interest fees178,781.10560,643.01
Interest income2,754,875.873,557,538.70
Plus: Other income8,030,856.865,114,016.80
Return on investment ("-" indicates loss)173,828.14307,027.09
Including: Return on investment in associates and joint ventures  
Income from the derecognition of financial assets measured at amortized cost  
Exchange gains ("-" indicates loss)  
Gains from net exposure hedging ("-" indicates loss)  
Gains from changes in fair value ("-" indicates loss)-2,901.12 
Credit impairment losses ("-" indicates loss)6,918,082.214,712,725.04
Asset impairment losses ("-" indicates loss)-366,142.72-2,120,452.13
Return on disposal of assets ("-" indicates loss)23,232.8649,228.12
III. Operating Profit ("-" indicates loss)160,303,592.86329,891,965.25
Plus: Non-operating income960,172.21736,192.94
Less: Non-operating expenditure1,150,127.351,565,921.89
IV. Total Profit ("-" indicates total loss)160,113,637.72329,062,236.30
Less: Income tax expense26,847,159.9657,939,433.31
V. Net Profit ("-" indicates net loss)133,266,477.76271,122,802.99
i. Classified by operation continuity  
1. Net profit from continued operation ("-" indicates net loss)133,266,477.76271,122,802.99
2. Net profit from discontinued operation ("-" indicates net loss)  
ii. Classified by attribution of ownership  
1. Net profit attributable to owners of the parent company133,346,264.70271,122,802.99
2. Minority shareholders' profits and losses-79,786.94 
VI. Net Amount of Other Comprehensive Income after Tax  
Total other comprehensive after-tax net income attributable to owners of the parent company  
i. Other comprehensive income not able to be reclassified into the profit or loss  
1. Changes of re-measurement of the defined benefit plan  
2. Other comprehensive income that cannot be transferred into the profit or loss under equity method  
3. Changes in fair value of investment in other equity instruments  
4. Changes in fair value of credit risk of the enterprise  
5. Others  
ii. Other comprehensive income reclassified into the profit or loss  
1. Other comprehensive income to be transferred into the profit or loss under equity method  
2. Changes in fair value of investment in other creditor's rights  
3. Financial assets reclassified into other comprehensive income  
4. Impairment provision for credit of investment in other creditor's rights  
5. Reserve of cash flow hedge  
6. Converted difference in foreign currency financial statements  
7. Others  
Total other comprehensive after-tax net income attributable to minority shareholders  
VII. Total Comprehensive Income133,266,477.76271,122,802.99
Total comprehensive income attributable to owners of the parent company133,346,264.70271,122,802.99
Total comprehensive income-79,786.94 
attributable to minority shareholders  
VIII. Earnings per Share:  
i. Basic earnings per share0.100.21
ii. Diluted earnings per share0.100.21
For business combinations of the current period under common control, the net profit realized by the combined party before the
combination is: RMB0.00; the net profit realized by the combined party in last period is: RMB0.00. Legal Representative: Liu Peng Person in charge of accounting: Xu Xianjing Person in charge of accounting department: Dong Ye
3. Consolidated cash flow statement
Unit: RMB

ItemIncurred in the current periodIncurred in the prior period
I. Cash Flows from Operating Activities:  
Cash received from sale of goods or rendering of services2,013,189,894.592,255,658,189.93
Net increase in deposits from customers, banks and non-bank financial institutions  
Net increase in due to central banks  
Net increase in placements from other financial institutions  
Cash received from the premium of direct insurance contracts  
Net cash from reinsurance business  
Net increase in deposits and investment of the insured  
Cash obtained from interest, net fee and commission  
Net increase in placements from banks and other financial institutions  
Net increase in repo service fund  
Net cash from agent securities trading  
Tax rebates  
Cash received related to other operating activities20,775,921.9036,911,315.21
Sub-total of cash inflow from operating activities2,033,965,816.492,292,569,505.14
Cash paid for goods purchased and services rendered1,135,854,564.521,359,556,274.91
Net loans and advances to customers  
Net increase in deposits with the central bank, banks and non-bank financial institutions  
Cash paid for claims of direct insurance contracts  
Net increase in placements with banks and non-bank financial institutions  
Cash paid for interest, fee and  
commission  
Cash paid for dividends of the insured  
Cash paid to and on behalf of employees272,517,814.87246,734,126.07
Tax payments130,061,335.22142,572,370.03
Cash payments related to other operating activities248,051,666.65208,801,567.90
Sub-total of cash outflow from operating activities1,786,485,381.261,957,664,338.91
Net cash flows from operating activities247,480,435.23334,905,166.23
II. Cash Flows from Investing Activities:  
Cash from realization of investment  
Cash received from the return on investments180,495.09307,027.09
Net cash received from the disposal of fixed assets, intangible assets, and other long-term assets4,408.139,758,000.00
Net amount of cash received from the disposal of subsidiaries and other operating organizations  
Cash received related to other investing activities41,239,541.6850,000,000.00
Sub-total of cash inflow from investing activities41,424,444.9060,065,027.09
Cash paid for the acquisition and construction of fixed assets, intangible assets, and other long-term assets78,770,349.25177,953,975.15
Cash paid for investments  
Net increase in pledged loans  
Net amount of cash paid for acquisition of subsidiaries and other operating organizations  
Cash payments related to other investing activities170,000,000.0010,029,000.00
Sub-total of cash outflow from investing activities248,770,349.25187,982,975.15
Net cash flows from investing activities-207,345,904.35-127,917,948.06
III. Cash Flows from Financing Activities:  
Cash received from capital contribution5,347,319.1510,255,276.29
Including: Proceeds received by subsidiaries from minority shareholders' investment  
Cash received from borrowings38,500,000.00 
Cash received related to other financing activities  
Sub-total of cash inflow from financing activities43,847,319.1510,255,276.29
Cash paid for repayments of borrowings 52,896,691.35
Cash payment for interest expenses and distribution of dividends or profits 440,172.97
Including: Dividend and profit paid by subsidiaries to minority shareholders  
Cash payments related to other financing activities8,894,699.62224,755,027.30
Sub-total of cash outflow from financing activities8,894,699.62278,091,891.62
Net cash flows from financing activities34,952,619.53-267,836,615.33
IV. Effect of Exchange Rate Changes on Cash and Cash Equivalents-994,226.311,326,022.34
V. Net Increase in Cash and Cash Equivalents74,092,924.10-59,523,374.82
Plus: Opening balance of cash and cash equivalents797,797,675.701,050,034,135.72
VI. Closing Balance of Cash and Cash Equivalents871,890,599.80990,510,760.90
(II) Report auditing (未完)
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