[一季报]鲁 泰B(200726):2023年第一季度报告(英文)

时间:2023年04月28日 02:04:24 中财网
原标题:鲁 泰B:2023年第一季度报告(英文)

Stock Code: 000726, 200726 Stock Name: LTTC, LTTC-B Announcement No. 2023-026
Bond Code: 127016 Bond Name: LTTC Convertible Bonds
LU THAI TEXTILE CO., LTD.
FIRST QUARTERLY REPORT 2023
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
This Report has been prepared in both Chinese and English. Should there be any discrepancies or misunderstandings between the two
versions, the Chinese version shall prevail.

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

 Q1 2023Q1 2022YoY change (%)
Operating revenue (RMB)1,378,301,160.571,580,088,801.60-12.77%
Net profit attributable to the listed company’s shareholders (RMB)95,759,162.05159,375,310.19-39.92%
Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB)51,332,367.74137,429,342.24-62.65%
Net cash generated from/used in operating activities (RMB)-36,789,172.94-15,953,827.96-130.60%
Basic earnings per share (RMB/share)0.110.18-38.89%
Diluted earnings per share (RMB/share)0.100.16-37.50%
Weighted average return on equity (%)1.06%1.97%-0.91%
 31 March 202331 December 2022Change (%)
Total assets (RMB)13,306,785,463.9713,351,097,602.03-0.33%
Equity attributable to the listed company’s shareholders (RMB)9,094,257,162.239,014,156,872.710.89%
(II) Exceptional Gains and Losses
? Applicable □ Not applicable
Unit: RMB

ItemQ1 2023Note
Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs)-697,500.60 
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)18,606,158.88 
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)34,509,392.62 
Reverse of provision for impairment of accounts receivable individually conducting impairment test1,479,606.09 
Non-operating income and expense other than the above1,577,880.73 
Less: Income tax effects9,634,096.21 
Non-controlling interests effects (net of tax)1,414,647.20 
Total44,426,794.31 
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

ItemChange (%)Main reason for change
Q1 2023  
Net profit attributable to the listed company’s shareholders-39.92%YoY decrease in fabric sales volume and YoY increase in unit costs of fabric sales
Net profit attributable to the listed company’s shareholders before exceptional gains and losses-62.65% 
Net cash generated from/used in operating activities (RMB)-130.60%Decrease in net cash generated from selling goods and rendering labor services for Q1 2023
Basic earnings per share-38.89%Decrease in Q1 2023 net profit
Diluted earnings per share-37.50% 
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- end49,096Number of preferred shareholders with resumed voting rights at the period-end (if any)0   
Top 10 shareholders      
Name of shareholderNature of shareholderSharehol ding percenta geTotal shares heldRestricted shares heldShares in pledge, marked or frozen 
     StatusShares
Zibo Lucheng Textile Investment Co., Ltd.Domestic non-state- owned corporation15.81%140,353,5830  
Tailun (Thailand) Textile Co., Ltd.Foreign corporation13.32%118,232,4000  
Central Huijin Assets Management Co., Ltd.State- owned corporation2.24%19,884,1000  
National Social Security Fund Portfolio 413Other1.49%13,260,0510  
ICBC Credit Suisse Innovation Power Stock Securities Investment FundOther1.05%9,360,0000  
National Social Security Fund Portfolio 412Other0.71%6,268,2490  
Gaohua-HSBC-GOLDMAN, SACHS & CO.LLCForeign corporation0.69%6,126,1350  
Dacheng China Securities Asset Management PlanOther0.59%5,235,9000  
GF China Securities Asset Management PlanOther0.59%5,235,9000  
FEDERATED HERMES GLOBAL INVESTMENT FD (CAYMAN) MASTER, SPC OBOAFTAO FEDERATED HERMES EMG ASIA EQUITY FD MASTER S.P.Foreign corporation0.59%5,193,2880  
Top 10 unrestricted shareholders      
Name of shareholderUnrestricted shares heldShares by type    
  TypeShares   
Zibo Lucheng Textile Investment Co., Ltd.140,353,583RMB-denominated ordinary stock140,353,583   
Tailun (Thailand) Textile Co., Ltd.118,232,400Domestically listed foreign stock118,232,400   
Central Huijin Assets Management Co., Ltd.19,884,100RMB-denominated ordinary stock19,884,100   
National Social Security Fund Portfolio 41313,260,051RMB-denominated ordinary stock13,260,051   
ICBC Credit Suisse Innovation Power Stock9,360,000RMB-denominated ordinary stock9,360,000   

Securities Investment Fund   
National Social Security Fund Portfolio 4126,268,249RMB-denominated ordinary stock6,268,249
Gaohua-HSBC-GOLDMAN, SACHS & CO.LLC6,126,135RMB-denominated ordinary stock6,126,135
Dacheng China Securities Asset Management Plan5,235,900RMB-denominated ordinary stock5,235,900
GF China Securities Asset Management Plan5,235,900RMB-denominated ordinary stock5,235,900
FEDERATED HERMES GLOBAL INVESTMENT FD (CAYMAN) MASTER, SPC OBOAFTAO FEDERATED HERMES EMG ASIA EQUITY FD MASTER S.P.5,193,288Domestically listed foreign stock5,193,288
Related or acting-in-concert parties among the shareholders aboveZibo 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
The Company held the Third Extraordinary General Meeting of 2022 on 15 July 2022, where the Proposal on Repurchase of
Domestically Listed Foreign Shares (B-shares) was approved, and disclosed the Report on Repurchase of Domestically Listed
Foreign Shares (B-shares) on 16 July 2022. On 27 July 2022, the Company carried out the first repurchase. As of 31 March 2023,
the Company had repurchased a total of 21,318,828 B-shares (or 2.40% of the Company’s total share capital) by way of
centralized bidding. With the highest repurchase price being HKD4.80/share and the lowest being HKD4.37/share, the total
payment for this repurchase plan was HKD99,984,829.86 (inclusive of commissions and alike). IV Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by Lu Thai Textile Co., Ltd.
31 March 2023
Unit: RMB

Item31 March 20231 January 2023
Current assets:  
Monetary assets1,842,251,705.722,067,768,253.97
Held-for-trading financial assets612,877,366.83267,695,159.48
Derivative financial assets  
Notes receivable125,460,783.71168,755,715.84
Accounts receivable572,029,095.06660,427,526.19
Receivables financing25,419,110.1611,208,304.78
Prepayments165,095,825.4795,021,598.32
Other receivables46,379,646.1689,855,659.99
Including: Interest receivable  
Dividends receivable18,563,298.4118,563,298.39
Financial assets purchased under resale agreements  
Inventories2,127,737,177.412,107,849,708.33
Other current assets94,379,191.1876,847,903.07
Total current assets5,611,629,901.705,545,429,829.97
Non-current assets:  
Long-term equity investments207,088,336.75184,168,625.69
Investments in other equity instruments  
Other non-current financial assets337,746,721.75337,110,000.00
Investment property20,235,593.5120,460,935.21
Fixed assets5,684,227,975.815,807,847,850.67
Construction in progress302,975,733.24199,943,501.73
Right-of-use assets470,913,946.28481,420,505.31
Intangible assets350,250,579.72352,889,578.06
Development costs  
Goodwill20,563,803.2920,563,803.29
Long-term prepaid expense2,690,507.962,948,981.97
Deferred income tax assets147,716,612.66155,774,523.25
Other non-current assets150,745,751.30242,539,466.88
Total non-current assets7,695,155,562.277,805,667,772.06
Total assets13,306,785,463.9713,351,097,602.03
Current liabilities:  
Short-term borrowings614,720,431.89518,946,415.96
Held-for-trading financial liabilities505,616.884,276,929.70
Derivative financial liabilities  
Notes payable42,600,000.0055,450,000.00
Accounts payable172,652,499.63246,588,463.74
Advances from customers  
Contract liabilities166,798,285.28206,879,672.53
Employee benefits payable230,812,553.38330,027,159.72
Taxes and levies payable12,400,763.9131,483,442.06
Other payables90,193,389.3583,357,296.71
Including: Interest payable  
Dividends payable441,113.64441,113.64
Current portion of non-current407,158,854.12307,921,837.35
liabilities  
Other current liabilities50,750,046.8566,889,025.17
Total current liabilities1,788,592,441.291,851,820,242.94
Non-current liabilities:  
Long-term borrowings116,634,001.20186,431,096.24
Bonds payable1,450,861,846.791,438,162,231.27
Lease liabilities95,309,940.3398,501,303.83
Long-term payables  
Long-term employee benefits payable57,417,997.6557,417,997.65
Provisions  
Deferred income158,086,149.35159,615,037.36
Deferred income tax liabilities156,141,460.52151,243,432.80
Other non-current liabilities  
Total non-current liabilities2,034,451,395.842,091,371,099.15
Total liabilities3,823,043,837.133,943,191,342.09
Owners’ equity:  
Share capital887,633,267.00887,633,151.00
Other equity instruments71,383,779.7671,383,830.75
Capital reserves402,648,341.16395,872,135.71
Less: Treasury stock154,396,198.73154,396,198.73
Other comprehensive income80,842,744.03107,628,898.09
Specific reserve4,351,011.07 
Surplus reserves1,215,124,336.541,215,124,336.54
General reserve  
Retained earnings6,586,669,881.406,490,910,719.35
Total equity attributable to owners of the Company as the parent9,094,257,162.239,014,156,872.71
Non-controlling interests389,484,464.61393,749,387.23
Total owners’ equity9,483,741,626.849,407,906,259.94
Total liabilities and owners’ equity13,306,785,463.9713,351,097,602.03
Legal representative: Liu Zibin The Company’s chief accountant: Zhang Keming
The Company’s financial manager: Zhang Keming
2. Consolidated Income Statement
Unit: RMB

ItemQ1 2023Q1 2022
1. Revenues1,378,301,160.571,580,088,801.60
Including: Operating revenue1,378,301,160.571,580,088,801.60
2. Costs and expenses1,322,345,679.231,409,725,138.20
Including: Cost of sales1,092,250,995.981,194,927,176.45
Taxes and levies16,217,092.5915,116,716.56
Selling expense33,253,553.1533,331,245.31
Administrative expense82,717,307.2792,775,354.83
Development costs61,804,412.0756,733,874.74
Finance costs36,102,318.1716,840,770.31
Including: Interest costs18,056,914.2318,139,093.23
Interest revenue14,108,606.209,609,487.98
Add: Other income18,522,742.2124,599,534.70
Return on investment (“-” for loss)38,579,946.99886,584.91
Including: Share of profit or loss of joint ventures and associates22,919,711.06-1,636,415.09
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)18,849,156.702,360,000.00
Credit impairment loss (“-” for loss)12,305,904.551,853,310.17
Asset impairment loss (“-” for loss)-37,085,094.15-12,447,808.03
Asset disposal income (“-” for loss)-697,500.60-603,708.22
3. Operating profit (“-” for loss)106,430,637.04187,011,576.93
Add: Non-operating income1,794,053.251,828,060.78
Less: Non-operating expense216,172.511,354,778.97
4. Gross profit (“-” for loss)108,008,517.78187,484,858.74
Less: Income tax expense16,514,278.3529,939,184.05
5. Net profit (“-” for net loss)91,494,239.43157,545,674.69
5.1 By operating continuity  
5.1.1 Net profit from continuing operations (“-” for net loss)91,494,239.43157,545,674.69
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 parent95,759,162.05159,375,310.19
5.2.1 Net profit attributable to non-controlling interests-4,264,922.62-1,829,635.50
6. Other comprehensive income, net of tax-26,786,154.06-5,707,490.39
Attributable to owners of the Company as the parent-26,786,154.06-5,707,490.39
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-26,786,154.06-5,707,490.39
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  
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-26,687,109.42-5,438,747.08
6.2.7 Other-99,044.64-268,743.31
Attributable to non-controlling interests  
7. Total comprehensive income64,708,085.37151,838,184.30
Attributable to owners of the Company as the parent68,973,007.99153,667,819.80
Attributable to non-controlling interests-4,264,922.62-1,829,635.50
8. Earnings per share  
8.1 Basic earnings per share0.110.18
8.2 Diluted earnings per share0.100.16
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 Keming
The Company’s financial manager: Zhang Keming
3. Consolidated Cash Flow Statement
Unit: RMB

ItemQ1 2023Q1 2022
1. Cash flows from operating activities:  
Proceeds from sale of commodities and rendering of services1,395,297,566.561,478,567,179.99
Tax and levy rebates40,085,910.1338,224,128.00
Cash generated from other operating activities56,881,830.6410,812,024.85
Subtotal of cash generated from operating activities1,492,265,307.331,527,603,332.84
Payments for commodities and services987,058,521.381,024,631,847.67
Cash paid to and for employees471,044,601.37452,625,366.04
Taxes and levies paid40,258,178.3131,608,127.59
Cash used in other operating activities30,693,179.2134,691,819.50
Subtotal of cash used in operating activities1,529,054,480.271,543,557,160.80
Net cash generated from/used in operating activities-36,789,172.94-15,953,827.96
2. Cash flows from investing activities:  
Proceeds from disinvestment418,000,000.0013,323,521.50
Return on investment1,323,008.67 
Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets303,764.224,503,457.00
Net proceeds from the disposal of subsidiaries and other business units  
Cash generated from other investing activities16,101,451.8812,608,822.18
Subtotal of cash generated from investing activities435,728,224.7730,435,800.68
Payments for the acquisition of fixed assets, intangible assets and other long-lived assets129,897,146.3185,652,349.91
Payments for investments763,871,013.14 
Cash used in other investing activities75,148,727.93108,589.66
Subtotal of cash used in investing activities968,916,887.3885,760,939.57
Net cash generated from/used in investing activities-533,188,662.61-55,325,138.89
3. Cash flows from financing activities:  
Capital contributions received 20,783,280.00
Including: Capital contributions by non-controlling interests to subsidiaries  
Borrowings received276,173,678.66419,668,185.51
Cash generated from other financing activities  
Subtotal of cash generated from financing activities276,173,678.66440,451,465.51
Repayment of borrowings120,706,753.67528,860,301.40
Interest and dividends paid7,340,755.368,524,817.85
Including: Dividends paid by subsidiaries to non-controlling interests  
Cash used in other financing activities4,773,203.004,426,403.00
Subtotal of cash used in financing activities132,820,712.03541,811,522.25
Net cash generated from/used in financing activities143,352,966.63-101,360,056.74
4. Effect of foreign exchange rates changes on cash and cash equivalents-11,540,604.60-3,557,919.18
5. Net increase in cash and cash equivalents-438,165,473.52-176,196,942.77
Add: Cash and cash equivalents, beginning of the period1,822,897,270.161,970,006,884.89
6. Cash and cash equivalents, end of the period1,384,731,796.641,793,809,942.12
(II) 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.
28 April 2023

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