[一季报]TCL科技(000100):2023年一季度报告（英文版）
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时间：2023年05月12日 18:42:47 中财网 |
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原标题:TCL科技:2023年一季度报告（英文版）
Stock Code: 000100 Stock Abbr.: TCL TECH. Announcement No.: 2023-031
TCL科技集团股份有限公司
TCL Technology Group Corporation
First Quarter 2023 Report
April 27, 2023
Content
Section I Important Notices and Definitions ................................................................................... 3
Section II Key Financial Information............................................................................................... 5
Section III Management Discussion and Analysis .......................................................................... 7
Section IV Shareholder Information .............................................................................................. 11
Section V Other Significant Events ................................................................................................ 13
Section VI Quarterly Financial Statements ................................................................................... 14
Section I Important Notices and Definitions
The Board of Directors (or the “Board”), the Supervisory Committee, directors, supervisors and senior management of TCL Technology Group Corporation (hereinafter referred to as the “Company”) hereby guarantee that this quarterly report is factual, accurate and complete, and shall be jointly and
severally liable for any misrepresentations, misleading statements, or material omissions therein. Mr. Li Dongsheng, the Chairman of the Board, Ms. Li Jian, the person-in-charge of financial affairs (Chief Financial Officer), and Mr. Peng Pan, the person-in-charge of the financial department,
hereby guarantee that the financial statements carried in this Report are factual, accurate and complete.
All the Company’s directors attended the board meeting for the review of this Report. The future plans, development strategies or other forward-looking statements mentioned in this Report shall NOT be considered as promises of the Company to investors. Therefore, investors are kindly reminded to pay attention to possible investment risks. This Report has not been audited. 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.
Definitions
| Term | Refers to | Definition | | Company, the Company, group | Refers to | TCL Technology Group Corporation | | The “Reporting Period”, “current period” | Refers to | The period from January 1, 2023 to March 31, 2023. | | TCL CSOT | Refers to | TCL China Star Optoelectronics Technology Co., Ltd. | | TCL Zhonghuan | Refers to | TCL Zhonghuan Renewable Energy Technology Co., Ltd., a majority-
owned subsidiary of the Company listed on the Shenzhen Stock
Exchange (stock code: 002129.SZ) | | GW | Refers to | Gigawatt, power unit for solar cells, 1GW = 1,000 megawatts | | G12 | Refers to | 12-inch ultra-large DW-cut solar monocrystalline silicon square wafer,
size: 44,096mm2, diagonal line: 295mm, side length: 210mm, with its
size 80.5% larger than the conventional M2 | | RMB | Refers to | Renminbi |
Section II Key Financial Information
I. Key accounting data and financial indicators
Indicate whether there is any retrospectively adjusted or restated datum in the table below □ Yes ? No
| | Q1 2023 | Q1 2022 | Change (%) | | Revenue (RMB) | 39,443,242,439 | 40,566,851,319 | -2.77% | | Net profit attributable to the company’s
shareholders (RMB) | -548,999,154 | 1,352,533,125 | -140.59% | | Net profits attributable to the company’s
shareholders before non-recurring gains and
losses (RMB) | -729,931,586 | 611,554,193 | -219.36% | | Net cash generated from operating activities
(RMB) | 4,495,356,538 | 3,863,953,881 | 16.34% | | Basic earnings per share (RMB/share) | -0.0326 | 0.1008 | -132.34% | | Diluted earnings per share (RMB/share) | -0.0322 | 0.0993 | -132.43% | | Weighted average return on equity (%) | -1.09% | 3.16% | -4.25% | | | At the end of the reporting period | December 31, 2022 | Change (%) | | Total assets (RMB) | 379,396,714,372 | 359,996,232,668 | 5.39% | | Owner’s equity attributable to the
company’s shareholders (RMB) | 49,663,049,661 | 50,678,520,477 | -2.00% |
The total share capital at the end of the last trading session before the disclosure of this Report:
| The total share capital at the end of the last trading session before the disclosure
of this Report: (share) | 17,071,891,607 |
Fully diluted earnings per share based on the latest total share capital above:
| Fully diluted earnings per share based on the latest total share capital above
(RMB/share) | -0.0322 |
II. Non-recurring profit and loss items and amounts
?Applicable □ Not applicable
Unit: RMB
| Item | Amount in the reporting
period | | Gains and losses on disposal of non-current assets (inclusive of impairment allowance write-offs) | 10,833,557 | | Government subsidies charged to current profits and loss (except for government subsidies
closely related to the Company’s normal business which comply with national policies and
regulations and are enjoyed on an ongoing basis according to certain standard quotas or quantities) | 341,941,846 | | The profits and losses generated from changes in fair value arising from holding marketable
financial assets and marketable financial liabilities, as well as the investment-related income from
the disposal of marketable financial assets, marketable financial liabilities and available-for-sale
financial assets, except for the effective hedging business related to the Company’s normal
business operation. | 38,869,586 | | Non-operating income and expenses other than the above | 2,962,918 | | Less: Corporate income tax | 68,908,196 | | Non-controlling interests (net of tax) | 144,767,279 | | Total | 180,932,432 |
Details of other profit and loss items that meet the definition of non-recurring profits and losses:
□ Applicable ?Not applicable
The Company has no other profit and loss items that meet the definition of non-recurring profits and losses.
Note on non-recurring profit and loss items listed in the Explanatory Announcement No. 1 on Information Disclosure for Companies
Offering Their Securities to the Public—Non-Recurring Gain/Loss defined as Recurring Gain/Loss items:
□ Applicable ?Not applicable
The Company does not have any non-recurring profit and loss items listed in the Explanatory Announcement No. 1 on Information
loss items.
III. Changes of key accounting data and financial indicators and reasons therefor ?Applicable □ Not applicable
Unit: RMB
| Balance Sheet items | Ending balance | Beginning balance | Increase /
decrease
ratio (%) | Reason for change | | Receivables financing | 3,502,980,188 | 1,103,127,764 | 217.5 | Mainly due to the increase in bank
acceptances held by the Company | | Other non-current
financial assets | 6,897,248,599 | 2,928,827,232 | 135.5 | Mainly due to the increase in
investments in equity instruments | | Deferred income tax assets | 2,333,080,519 | 1,753,887,430 | 33.0 | Mainly due to the increase in
deductible losses for the period | | Non-current liabilities due
within one year | 7,594,431,650 | 10,957,320,562 | -30.7 | Mainly due to the repayment of
maturing liabilities | | Long-term payables | 1,533,196,765 | 887,762,713 | 72.7 | Mainly due to the expansion in
consolidation scope | | Deferred income | 3,809,748,717 | 2,468,144,649 | 54.4 | Mainly due to the receipt of
government subsidies | | Deferred income tax
liabilities | 1,811,280,797 | 1,319,428,442 | 37.3 | Due the business combinations under
non-common control during the
period | | Income Statement items | January-March,
2023 | January-March,
2022 | Increase /
decrease
ratio (%) | Reason for change | | Other income | 531,668,577 | 976,625,863 | -45.6 | Mainly due to the decrease in
amortization of government subsidies | | Gain on changes in fair
value (loss is indicated by
“-”) | 151,543,005 | -136,683,550 | 210.9 | Mainly due to the increase in change
in fair value of financial assets | | Asset impairment loss
(loss is indicated by “-”) | -338,223,994 | -246,385,486 | 37.3 | Mainly due to provisions made for the
diminution in value of inventory led
by market price fluctuation | | Cash Flow Statement
items | January-March,
2023 | January-March,
2022 | Increase /
decrease
ratio (%) | Reason for change | | Net cash used in investing
activities | -5,200,472,661 | -12,591,690,089 | -58.7 | Mainly due to the increase in recovery
of investments |
Section III Management Discussion and Analysis
The global political and economic situation remains both complicated and challenging thus far this year. With developed economies still experiencing inflation pressure, overseas economy growth
is expected to slow down, while China's economy has generally shown sound momentum. In the face of a complicated and volatile external business environment, the Company continues to maintain its strategic position with a focus on developing semiconductor displays, new energy photovoltaic and semiconductor materials along with other related semiconductor industries. On the basis of its operating strategy of “enhancing the quality and efficiency of operations, playing to strengths whilst
shoring up weaknesses, accelerating global strategic development and driving development with innovation”, the Company continues to improve its comparative competitiveness, strengthen risk control and maintain robust operations.
During the reporting period, the Company registered revenue of RMB39.44 billion, representing a decline of 2.8% year-on-year; net profit of RMB110 million; net profit attributable to shareholders
of the listed company of -RMB550 million; and a net operating cash flow of RMB4.5 billion. The Company's declines in performance are mainly due to the following reasons: the average price of mainstream semiconductor display products was significantly lower than that during the same period of last year, and industry profit margins hit cyclical lows, which resulted in the performance of the
semiconductor display business dropping significantly year-on-year. However, the Company has managed to stabilize performance compared with the fourth quarter of last year, gradually improving
profitability in step with the continuously rising price of major products since the end of the first
quarter. During the reporting period, return on investment was significantly reduced in comparison with that of the previous year due to the impact of project exit and revenue recognition. In terms of
new energy photovoltaic and semiconductor materials business, the Company continues to cement its leadership positioning through advantages in products and technologies, registering rapid growth in
revenue and performance.
Semiconductor display business
During the first quarter, the semiconductor industry, as a whole, experienced seasonal lows, but the supply-demand relationship tended to be sound, with the price of mainstream panels rebounding. Emphasizing cost efficiency in its operations, the Company continued to optimize its business and product structure, driving the operational improvement of semiconductor display business, and expedited the strategic shift from large-sized displays to full-sized displays. During the reporting
period, the Company’s semiconductor display business realized revenue of RMB15.12 billion, recording a year-on-year decline of 24.5%; TCL CSOT sold 11,323,000 sq.m of display panels, up 0.7% year-on-year.
In the field of large-sized displays, TCL CSOT sustained its premium products strategy to consolidate its leading position in TV panels. By market share, the Company secured its top 2 position
in TV panels, of which it ranked No.1 in both 55-inch and 75-inch products, and top 2 in 65-inch products, while being a top-tier player in commercial displays. The Company consistently took the lead in trends related to large-sized displays in the industry, and more than 45% of the shipment area
of TV products are above 65-inch. The Company has enhanced the competitiveness of its mid-sized products, and delivered products to IT brands through its t9 production line; during the reporting period, the Company ranked No.1 in MNT e-sports displays and No.2 in LTPS tablets and LTPS laptops by global market share, while maintaining the rapid development of vehicle-mounted device business. In terms of small-sized products, TCL COST focused on differential technologies and pushed ahead with product structure upgrading. The Company jumped to the second place among LTPS mobile phones by global market share, supplying flexible LTPO OLED products for a number of high-end models launched by various brands.
With a surging global digital economy, the Company is optimistic about the development and industrial value of semiconductor displays as the key information carrier and major interactive interface. The Matthew effect has further optimized the industry, top-tier enterprises have constantly
enhanced their economies of scale, laying a solid foundation for future long-term and healthy development. Along with the steady price rebound of mainstream products, led by TV panels, the industry mid-range ROE is expected to be restored, and the Company’s semiconductor display business will also gradually experience operational improvements.
New energy photovoltaic and semiconductor materials business In the first quarter, the photovoltaic industry increasingly improved its upstream materials supply.
development of new energy photovoltaic materials. During the reporting period, TCL Zhonghuan recorded revenue of RMB17.62 billion, represented an increase of 31.8% year-on-year, and net profit
of RMB2.46 billion, up 69.2% year-on-year.
TCL Zhonghuan seized the initiative for future development, fortified its competitive advantage through its "G12 + Shingled PV" dual technology platform, and increased its capacity for advanced manufacturing with a stabilized and strengthened supply chain, continuously improved its product competitiveness as well as the scale of production and sales. At the end of the reporting period, the
Company's total monocrystalline silicon capacity was up to 150GW, with the production utilization rate climbing sharply month-over-month. The Company consolidated its leading position in the global market share of photovoltaic silicon wafers and N-type wafers, and consistently developed large-sized, flake-oriented and N-type technologies for photovoltaic materials. Using metrics such as
consumption rate of silicone materials per crystalline unit, monthly output per furnace, wafer output
per kg and other indicators, the Company has managed to maintain an industry leadership position with the remarkable cost and market advantages of G12 strategic products. Upholding the concept of differentiated development, the Company has built an intelligent plant for 25GW N-type TOPCON batteries, working to integrate the advanced technologies of photovoltaic materials, imbrication components and N-type TOPCON batteries, so as to enhance synergistic effects along the industrial chain and strengthen the comprehensive competitiveness of new energy photovoltaic business. With the aim of cementing a leadership position in new energy photovoltaic products, the Company will continue to focus on the development of photovoltaic materials, building a differentiated business ecosystem for batteries and components, and deepen the industry 4.0 system and the application of flexible manufacturing.
Looking ahead to the year, the Company’s semiconductor display business is expected to see improved operational performance aided by balanced supply and demand throughout the industry. Driven by the high-speed development of the industry and TCL Zhonghuan’s competitive edges, the new energy photovoltaic business will maintain its high-quality development, making contributions to the steady growth of the Company. Through both internal development and M&As of the semiconductor materials business, the Company will develop into a leader in semiconductor silicon wafer production within China.
new energy photovoltaic and semiconductor materials, the Company will continue to seize opportunities arising from the technical and manufacturing transformation of China and global energy
restructuring, so as to build its core competitive strength based on product and technology innovation,
giving full play to the advantages of lean management and economies of scale, leading to its accelerated development into a leading international tech industry group.
Section IV Shareholder Information
I. Table of the total number of ordinary shareholders and the number of preferred shareholders with
resumed voting rights as well as the shareholdings of the top 10 shareholders Unit: Share
| Total number of ordinary shareholders by
the end of the reporting period | 677,632 | Total number of preferred shareholders with resumed voting
rights by the end of the reporting period (if any) | - | | | | | Shareholdings of top 10 shareholders of ordinary shares | | | | | | | | Name of
shareholder | Nature of
shareholder | Shareholding
percentage (%) | Number of shares
held at the
period-end | Number of
restricted
ordinary shares
held | Shares in pledge, marked or frozen | | | | | | | | Status | Shares | | Li Dongsheng and
his acting-in-
concert party | Domestic
individual/Domes
tic general legal
entity | 6.79% | 1,159,085,019 | 610,545,822 | Put in pledge by
Li Dongsheng | 143,665,800 | | | | | | | Put in pledge by
Jiutian Liancheng | 280,052,495 | | Hong Kong
Securities Clearing
Company Ltd. | Foreign legal
entity | 4.52% | 771,411,684 | | | | | Huizhou
Investment
Holding Co., Ltd.
and its acting-in-
concert party | State-owned legal
entity | 4.23% | 722,144,427 | | | | | China Securities
Finance
Corporation
Limited | Domestic general
legal entity | 2.19% | 373,231,553 | | | | | CITIC Securities
Co., Ltd. | State-owned legal
entity | 1.75% | 298,947,808 | 280,701,754 | | | | Wuhan Optics
Valley Industrial
Investment Co.,
Ltd. | State-owned legal
entity | 1.63% | 277,932,396 | | | | | Guotai Junan
Securities Co., Ltd. | State-owned legal
entity | 1.38% | 235,511,984 | 228,070,175 | | | | UBS AG | Foreign legal
entity | 1.27% | 217,197,549 | 196,783,625 | | | | Everbright
Securities
Company Limited | State-owned legal
entity | 1.24% | 212,006,577 | 204,678,362 | | | | GF Securities Co.,
Ltd. | Domestic general
legal entity | 1.11% | 190,079,302 | 187,134,502 | | | | Shareholdings of top 10 non-restricted ordinary shareholders | | | | | | | | Name of shareholder | Number of non-restricted ordinary shares held at the end of
reporting period | Type of shares | | | | | | | | Type | Shares | | | | | Hong Kong Securities Clearing
Company Ltd. | 771,411,684 | RMB-
denominated
ordinary shares | 771,411,684 | | | | | Huizhou Investment Holding Co., Ltd.
and its acting-in-concert party | 722,144,427 | RMB-
denominated
ordinary shares | 722,144,427 | | | | | Li Dongsheng and his acting-in-concert
party | 548,539,197 | RMB-
denominated
ordinary shares | 548,539,197 | | | |
| China Securities Finance Corporation
Limited | 373,231,553 | RMB-
denominated
ordinary shares | 373,231,553 | | Wuhan Optics Valley Industrial
Investment Co., Ltd. | 277,932,396 | RMB-
denominated
ordinary shares | 277,932,396 | | Goldman Sachs International - Self-
owned funds | 137,149,490 | RMB-
denominated
ordinary shares | 137,149,490 | | TCL Technology Group Corporation -
2021 to 2023 Employee Stock
Ownership Plan (Phase I) | 113,143,154 | RMB-
denominated
ordinary shares | 113,143,154 | | TCL Technology Group Corporation -
2021 to 2023 Employee Stock
Ownership Plan (Phase II) | 106,484,364 | RMB-
denominated
ordinary shares | 106,484,364 | | Sinatay Life Insurance Co., Ltd. -
Conventional Product | 104,190,172 | RMB-
denominated
ordinary shares | 104,190,172 | | ICBC Credit Suisse Fund - Agricultural
Bank of China - ICBC Credit Suisse
China Securities Financial Asset
Management Plan | 74,761,500 | RMB-
denominated
ordinary shares | 74,761,500 | | Explanation on the above shareholders’ associations or
concerted actions | Mr. Li Dongsheng and Ningbo Jiutian Liancheng Equity Investment Partnership
(Limited Partnership) became persons acting in concert by signing the Agreement
on Concerted Action, holding 1,159,085,019 shares in total and becoming the
largest shareholder of the Company.
Huizhou Investment Development Co., Ltd., and Huizhou Investment Holding
Co., Ltd. constitute persons acting in concert based on the ownership relationship. | | | | Explanation on the top 10 ordinary shareholders participating
in securities margin trading (if any) | As at the end of the Reporting Period, a shareholder of the Company, i.e., Huizhou
Investment Holding Co., Ltd. and its person acting in concert, i.e., Huizhou
Investment Development Co., Ltd., decreased the number of shares by 66,500,000
shares due to their participation in the refinancing business; the shareholder
Wuhan Optical Valley Industrial Investment Co., Ltd. decreased the number of
shares by 280,620,000 shares due to its participation in the refinancing business. | | |
II. Total number of preferred shareholders and shareholdings of the top 10 preferred shareholders □ Applicable ?Not applicable
Section V Other Significant Events
?Applicable □ Not applicable
1. Derivative investment for hedging purposes during the reporting period Unit: RMB'0,000
| Type of contract | Beginning amount | | Ending amount | | Gain/loss
in
Reportin
g Period | Ending contractual
amount as % of the
Company’s ending net
assets | | | | Contractua Transactio
l amount n limit | Contractua Transactio
l amount n limit | | | | | | | | | | | | | Contractua
l amount | Transactio
n limit | | 1. Forward forex
contracts | 2,062,172 | 73,441 | 2,539,419 | 97,032 | -3,066 | 18.41% | 0.70% | | 2. Interest rate swaps | 384,446 | 11,533 | 373,303 | 11,199 | | | | | | | | | | | 2.71% | 0.08% | | Total | 2,446,618 | 84,974 | 2,912,722 | 108,231 | -3,066 | 21.11% | 0.78% | | Accounting policies and specific accounting principles
for hedging business during the Reporting Period and a
description of whether there have been significant
changes from those of the previous reporting period | No significant change. | | | | | | | | Description of actual profits and losses during the
Reporting Period | During the reporting period, profit from change in fair value of hedged
items was RMB58.25 million; profit from settlement of maturing
forward exchange contracts was RMB34.02 million; and profit arising
from valuation of effective forward exchange contracts was -
RMB122.93 million. | | | | | | | | Description of the hedging effect | During the Reporting Period, the Company's main foreign exchange risk
exposures include exposures of assets and liabilities denominated in
foreign currencies arising from business such as outbound sales, raw
material procurement and financing. The uncertain risks arising from the
exchange rate fluctuations were effectively hedged by derivative
contracts with the same purchase amounts and maturities in opposite
directions. | | | | | | |
2. Other material matters during the reporting period
| Title of announcement | Date of disclosure | Website for disclosure | | Announcement on the Exhaustion of Proceeds from IPOs and
the Deregistration of Special Funding Accounts | January 10, 2023 | www.cninfo.com.cn | | Announcement on Capital Increase and Additional Share
Issuance of Subsidiary Zhonghuan Advanced Semiconductor
Materials Co., Ltd. and the Acquisition of Xinxin
Semiconductor Technology Co., Ltd. | January 20, 2023 | |
Section VI Quarterly Financial Statements
I. Financial statements
1. Consolidated Balance Sheet
Prepared by: TCL Technology Group Corporation
Unit: RMB
| Item | Ending balance | Beginning balance | | Current assets: | | | | Monetary assets | 38,048,025,406 | 35,378,501,261 | | Settlement reserves | - | - | | Funds on loan | - | - | | Held-for-trading financial assets | 10,246,426,895 | 12,703,507,482 | | Derivative financial assets | 251,359,134 | 361,034,230 | | Notes receivable | 514,711,416 | 512,848,988 | | Accounts receivable | 15,727,488,133 | 14,051,661,462 | | Receivables financing | 3,502,980,188 | 1,103,127,764 | | Prepayments | 3,573,085,834 | 3,593,856,572 | | Premiums receivable | - | - | | Reinsurance accounts receivable | - | - | | Reinsurance contract provisions receivable | - | - | | Other receivables | 3,178,673,010 | 4,033,248,387 | | Of which: Interests receivable | - | - | | Dividends receivable | 216,000,000 | 1,226,086 | | Financial assets purchased under sale-back agreement | - | - | | Inventories | 18,668,473,927 | 18,001,121,855 | | Contract assets | 330,463,809 | 315,167,085 | | Held-for-sale assets | - | - | | Non-current assets due within one year | - | - | | Other current assets | 6,521,842,373 | 5,438,935,717 | | Total current assets | 100,563,530,125 | 95,493,010,803 | | Non-current assets: | | | | Loans and advances to customers | - | - | | Debt investments | 848,232,539 | 741,703,137 | | Other debt investments | - | - | | Long-term receivables | 626,912,691 | 631,372,701 | | Long-term equity investments | 28,442,902,804 | 29,256,215,804 | | Investments in other equity instruments | 419,510,042 | 439,996,263 | | Other non-current financial assets | 6,897,248,599 | 2,928,827,232 | | Investment property | 1,010,441,283 | 946,449,125 | | Fixed assets | 144,919,311,705 | 132,477,671,844 | | Construction in progress | 46,302,522,741 | 52,053,833,629 | | Productive biological assets | - | - | | Oil and gas assets | - | - | | Right-of-use assets | 5,437,319,261 | 5,110,123,904 | | Intangible assets | 17,868,534,073 | 16,783,930,537 | | Development costs | 2,493,497,183 | 3,179,207,056 | | Goodwill | 10,341,857,559 | 9,161,852,161 | | Long-term deferred expenses | 3,078,161,896 | 2,744,208,125 | | Deferred income tax assets | 2,333,080,519 | 1,753,887,430 | | Other non-current assets | 7,813,651,352 | 6,293,942,917 | | Total non-current assets | 278,833,184,247 | 264,503,221,865 | | Total assets | 379,396,714,372 | 359,996,232,668 | | Current liabilities: | | | | Short-term borrowings | 10,494,805,699 | 10,215,910,963 | | Borrowings from the Central Bank | 911,820,354 | 777,676,330 | | Borrowed funds | 500,112,500 | - | | Held-for-trading financial liabilities | 684,837,401 | 861,911,768 | | Derivative financial liabilities | 74,642,812 | 70,734,905 | | Notes payable | 7,907,085,234 | 6,365,659,580 | | Accounts payable | 26,790,963,084 | 26,381,911,940 | | Advances from customers | 660,363 | 1,402,178 | | Contract liabilities | 2,586,278,480 | 2,336,008,164 | | Financial assets sold under repurchase agreements | - | - | | Customer deposits and deposits from other banks and
financial institutions | 188,428,347 | 603,423,212 | | Funds for brokering securities transaction | - | - | | Funds for brokering securities underwriting | - | - | | Remunerations payable | 2,658,656,331 | 2,376,932,722 | | Taxes and levies payable | 1,230,369,499 | 1,215,591,227 | | Other payables | 23,671,698,141 | 24,190,353,350 | | Of which: Interests payable | - | - | | Dividends payable | 40,010,315 | 40,010,329 | | Service charges and commissions payable | - | - | | Reinsurance accounts payable | - | - | | Held-for-sale liabilities | - | - | | Non-current liabilities due within one year | 7,594,431,650 | 10,957,320,562 | | Other current liabilities | 1,315,322,728 | 1,185,847,619 | | Total current liabilities | 86,610,112,623 | 87,540,684,520 | | Non-current liabilities: | | | | Insurance contract provisions | - | - | | Long-term borrowings | 128,772,688,397 | 118,603,164,839 | | Bonds payable | 13,478,276,808 | 12,006,850,805 | | Of which: Preferred shares | - | - | | Perpetual bonds | - | - | | Lease liabilities | 4,839,131,901 | 4,461,382,902 | | Long-term payables | 1,533,196,765 | 887,762,713 | | Long-term employee compensation payable | 482,150,813 | 472,538,409 | | Estimated liabilities | 100,856,119 | 97,521,975 | | Deferred income | 3,809,748,717 | 2,468,144,649 | | Deferred income tax liabilities | 1,811,280,797 | 1,319,428,442 | | Other non-current liabilities | - | - | | Total non-current liabilities | 154,827,330,317 | 140,316,794,734 | | Total liabilities | 241,437,442,940 | 227,857,479,254 | | Owner's equity: | | | | Capital share | 17,071,891,607 | 17,071,891,607 | | Other equity instruments | - | - | | Of which: Preferred shares | - | - | | Perpetual bonds | - | - | | Capital reserves | 12,006,084,762 | 12,522,792,596 | | Less: Treasury share | 1,314,581,308 | 1,314,581,308 | | Other comprehensive income | -763,814,827 | -811,821,600 | | Specific reserves | 4,530,430 | 2,301,029 | | Surplus reserves | 3,712,272,814 | 3,712,272,814 | | General risk reserve | 8,933,515 | 8,933,515 | | Retained earnings | 18,937,732,668 | 19,486,731,824 | | Total equity attributable to the owners of the parent
company | 49,663,049,661 | 50,678,520,477 | | Non-controlling interests | 88,296,221,771 | 81,460,232,937 | | Total owner's equity | 137,959,271,432 | 132,138,753,414 | | Total liabilities and owner's equity | 379,396,714,372 | 359,996,232,668 |
Legal representative: Person-in-charge of Financial affairs: Person-in-charge of the Accounting Department: （未完）
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