2012 Q3 Report(context)

2012-10-2729166次

I. Important

1.1 The Board of Directors and its members, the Board of Supervisors and its members and the Senior Management of the Company confirm, to the best of their knowledge, that there is no false or misleading statement or material omission in this Report and shall be severally and jointly liable for the truthfulness, accuracy and completeness of its contents.

1.2 All the Directors of the Company attended the Board Meeting.

1.3 The financial statements of the Company for the third quarter have not been audited.

1.4 Chairman of the Company Mr. Xu Yongmo, CEO Mr. Li Yeqing, CFO Ms. Kong Lingling and Manager of Accounting Department Mr. Wu Xin declare and confirm that the financial statements in this Third Quarter Report are true and complete.

II. General Information of the Company

2.1 Financial Highlights

Unit: Yuan

	At the end of reporting period	At the end of previous year	Change (%) of the end of reporting period/ the end of previous year
Total assets (Yuan)	21,656,055,039	21,729,678,063	-0.34
Owners’ equity (Yuan)	7,465,303,834	7,759,976,865	-3.80
Net assets per share attributable to shareholders of the Company (Yuan)	7.98	8.30	-3.80
	From beginning of this year to end of reporting period (Jan-Sep)		Change (%) of the reporting period/same period of previous year
Net cash flow from operating activities (Yuan)	1,147,372,494		32.95
Net cash flow per share from operating activities (Yuan)	1.23		14.74
	Reporting period (Jul-Sep)	From beginning of this year to end of reporting period (Jan-Sep)	Change (%) of the reporting period/same period of previous year
Net profit attributable to shareholders of the Company (Yuan)	145,918,400	241,835,719	-59.74
Basic earning per share (Yuan)	0.16	0.26	-65.26
Basic earning per share after elimination of extra-ordinary items (Yuan)	0.15	0.24	-65.12
Diluted earning per share (Yuan)	0.16	0.26	-65.26
Return on net assets, weighted average (%)	1.90	3.16	Decreased by 3.87 percentage points
Return on net assets after elimination of extra-ordinary items, weighted average (%)	1.81	2.89	Decreased by 3.65 percentage points

Elimination of extra-ordinary items and amount:

Unit: Yuan

Item	From beginning of this year to end of reporting period (Jan-Sep)
Gains from disposal of non-current assets	-5,846,191
Government subsidies, excluding regular fixed amount government subsidies	37,521,506
Reversal of provisions for assets impairment of accounts	2,418,803
Other non-operating income and expenditures	-5,358,526
Impacts from income tax	-8,049,922
Impacts from minority shareholders’ interests (after tax)	-135,726
Total	20,549,944

2.2 The total number of shareholders and top ten holders of shares not subject to conditional sales at the reporting period end

Unit: share

Total number of shareholders at the reporting period end

51,689

Top ten holders of listed shares not subject to conditional sales

Name

Shares held at the period end

Type of share

HOLCHIN B.V.

321,922,600

RMB ordinary shares 150,400,000

Domestic listed foreign

investment shares 171,522,600

State-owned shares (held by Huaxin Group Co., Ltd.)

128,501,296

RMB ordinary shares

GAOLING FUND,L.P.

51,449,782

Domestic listed foreign investment shares

HOLPAC LIMITED

18,612,430

Domestic listed foreign investment shares

Huaxin Group Co., Ltd.

17,452,464

RMB ordinary shares

ABERDEEN GLOBAL-CHINESE EQUITY FUND

13,050,775

Domestic listed foreign investment shares

China Construction Bank -- BOCOM Schroder steady mixed type securities investment fund

7,200,800

RMB ordinary shares

International Finance -- HSBC -- JPMORGAN CHASE BANK, NATIONAL ASS0CIATION

6,623,854

RMB ordinary shares

Agricultural Bank of China -- BOCOM Schroder selected stock securities investment fund

5,146,659

RMB ordinary shares

Wuhan Railway Bureau

5,040,000

RMB ordinary shares

III. Major Events

3.1 Status and reasons for great change on major items in financial statements and on financial indicators

þ Applicable ¨ Not Applicable

3.1.1 Changes of Financial Indicators in Balance Sheet Comparing with the Year Beginning

Unit: Yuan

Item	September 30, 2012	December 31, 2011	Change (%)	Brief remarks
Notes receivable	714,623,171	1,152,454,185	-38%	Maturity of bank acceptance and endorsement transfer
Accounts receivable	1,156,022,740	611,160,181	89%	Expansion of the Company scale, increase in credit sales
Advances to suppliers	281,937,052	77,815,141	262%	Increment of construction contract prepayments
Other receivables	360,604,859	148,938,461	142%	Increment of deposit payment for equity acquisition
Other current assets	88,870,234	157,309,135	-44%	New companies put into operation, value added tax pending for deduction decreased
Long term equity investments	101,885,808	14,859,038	586%	Affiliated companies were newly added
Construction in progress	1,315,022,285	970,702,004	35%	Newly built cement production lines come to main body construction period
Deferred tax assets	187,397,971	108,547,828	73%	Provision of deferred tax from short term losses of subsidiaries
Notes payable	83,175,208	32,503,263	156%	Increase in bank acceptance bills
Advances from customers	284,061,568	404,466,765	-30%	Increase in loan settlement, decrease in advances from customers
Accrued payroll and welfare benefits	75,626,847	143,977,781	-47%	Distribution of performance remuneration for previous year
Taxes and other levies payable	177,619,768	307,854,410	-42%	Payment for the corporate income tax for previous year
Interests payable	87,491,157	31,830,885	175%	Increment in provisions for interests of corporate bonds and mid-term notes
Dividends payable	7,559,504	66,710,525	-89%	Joint venture subsidiaries of the Group distributed dividends for previous year to their minority shareholders
Other payables	508,316,668	206,206,627	147%	Acquisition payment of minority shareholding of Yangxin and Yichang company has not yet been completed
Current portion of non-current liabilities	3,596,898,035	2,693,349,474	34%	Some of the MTNs were converted into current portion of non-current liabilities
Long term borrowings	2,494,730,890	4,222,803,436	-41%	Some long term borrowings were converted to current portion of long-term borrowings
Debentures payable	2,589,200,000	1,197,450,000	116%	Issuance of the first tranche of corporate bonds

3.1.2 Changes of Financial Indicators in Income Statement Comparing with the Same Period of Last Year

Unit: Yuan

Items	From year beginning to reporting period end (January – Sep 2012)	Same period of last year (January – Sep 2011)	Change (%)	Brief remarks
General and administration expenses	494,887,210	377,279,964	31%	Increase in business scale leading to increase in administration and consulting expenses
Provision for asset impairment	382,146	601,031	-36%	Write off of bad debts in last year ready to be collected decreased compared with the same period of last year
Net investment income	-118,436	249,721	-147%	Newly added affiliated companies suffered losses this year
Operating profit	291,821,686	1,240,678,374	-76%	Selling price dropped drastically compared with the same period of last year
Non-operating expenditures	14,115,821	10,784,794	31%	Increase in disposal of fixed assets and non current assets
Total profit	391,755,925	1,333,167,790	-71%	Selling price dropped drastically compared with the same period of last year
Income tax	74,133,441	304,554,914	-76%	Total profit dropped drastically compared with the same period of last year
Net profit	317,622,484	1,028,612,876	-69%	Selling price dropped drastically compared with the same period of last year
Net profit attribute to shareholders of the Company	241,835,719	904,511,640	-73%	Selling price dropped drastically compared with the same period of last year
Minority interests	75,786,765	124,101,236	-39%	Selling price dropped drastically compared with the same period of last year

3.1.3 Changes of Financial Indicators in Cash Flow Statement Comparing with the Same Period of Last Year

Unit: Yuan

Item	Consolidation		Change (%)	Brief remarks
Item	Jan – Sep, 2012	Jan – Sep, 2011	Change (%)	Brief remarks
Net cash flow from operating activities	1,147,372,494	862,988,269	33%	Decrease in notes receivable and inventories
Net cash flow from financing activities	- 358,272,624	24,283,533	-1575%	Payment of acquiring the minority shareholding of Yangxin and Yichang company