OVERSEAS REGULATORY ANNOUNCEMENT
FIRST QUARTERLY REPORT FOR 2022
In accordance with the requirements of the Shanghai Stock Exchange ("SSE"), Guangshen Railway Company Limited (the "Company") is required to issue a first quarterly report.
The financial information set out in this quarterly report has not been audited, and has been prepared in accordance with the PRC Enterprise Accounting Standards.
This announcement is made in accordance with Rule 13.09(2)(a) and 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
The Board and all its directors guarantee that this announcement does not contain any misrepresentations, misleading statement or material omission, and are legally responsible for the authenticity, accuracy and completeness of the contents of this announcement.
I. | IMPORTANT NOTICE: |
(1) | The board of directors, supervisory committee, directors, supervisors and senior management of the Company warrant that the contents of this quarterly report are authentic, accurate and complete, and there are no misrepresentations or misleading statements contained in or material omissions from this quarterly report, and severally and jointly accept the related legal responsibility. |
(2) | Mr. Wu Yong, Chairman of the Company, Mr. Hu Lingling, General Manager, Mr. Luo Xinpeng, Chief Accountant and Mr. Liu Qiyi, Chief of Finance Department hereby declare that the authenticity, accuracy and completeness of the financial statements contained in this quarterly report are warranted. |
(3) | Whether the first quarterly financial statements were audited |
☐ Yes ☑ No
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II. | PRINCIPAL FINANCIAL INFORMATION |
(1) | Principal Accounting Information and Financial Indicators |
Unit: ¥ Currency: RMB | ||||||||||||
Items | This reporting period | Same period last year |
Increase/decrease with the same period of last year (%) | |||||||||
Revenues from operation | 4,998,622,697 | 4,413,764,612 | 13.25 | |||||||||
Net profit attributable to shareholders of listed company | (398,371,025 | ) | (93,372,207 | ) | N/A | |||||||
Net profit attributable to shareholders of listed company after extraordinary gain or loss | (412,787,538 | ) | (93,683,062 | ) | N/A | |||||||
Net cash flow from operating activities | (202,546,932 | ) | (250,538,278 | ) | N/A | |||||||
Basic earnings per share (¥/share) | (0.056 | ) | (0.013 | ) | N/A | |||||||
Diluted earnings per share (¥/share) | (0.056 | ) | (0.013 | ) | N/A | |||||||
Weighted average return on net assets (%) | (1.47 | ) | (0.33 | ) | N/A | |||||||
At the end of this reporting period | At the end of last year | Increase/decrease
at the end of the | ||||||||||
Total assets | 36,728,169,181 | 37,403,422,526 | (1.81 | ) | ||||||||
Owners' equity attributable to shareholders of the listed company | 26,877,622,904 | 27,241,949,775 | (1.34 | ) |
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(2) | Extraordinary gain or loss items and amounts |
Unit: ¥ Currency: RMB | ||||
Items |
Amount for the period | |||
Gain or loss on disposal of non-current assets | (415,130 | ) | ||
Government grants included in profit or loss for the period, other than government grants closely related to the normal operation of the Company and granted on an on-going basis in accordance with specific standard amount or quantity in compliance with national policies | 22,660,749 | |||
Other non-operating income and expenses other than aforesaid items | (1,470,645 | ) | ||
Less: Effect of income tax | 6,269,096 | |||
Effect of minority interests (after tax) | 89,365 | |||
Total | 14,416,513 |
Note: Extraordinary losses are expressed in negative figures.
(3) | Changes of key accounting items and financial indicators and reasons for changes |
☑ Applicable ☐ Not applicable
Items | Movement (%) | Major Reason | ||
Net profit attributable to shareholders of listed company | N/A | The limited growth of revenues from operation during the reporting period was mainly due to the impact of COVID-19 epidemic, as well as the growth rate of revenues from operation was lower than the growth rate of operating cost. | ||
Net profit attributable to shareholders of listed company after extraordinary gain or loss | N/A | Same as above. | ||
Basic earnings per share | N/A | Same as above. | ||
Diluted earnings per share | N/A | Same as above. |
- 3 -
III. | INFORMATION OF SHAREHOLDERS |
(1) | Total number of ordinary shareholders and number of preference shareholders with restored voting rights and shareholdings of the top ten shareholders |
Unit: Share
Total number of ordinary shareholders at the end of the reporting period | 188,258 |
Total number of preference shareholders with restored voting rights at the end of the reporting period (if any) | N/A | |||||||||||||||||||||
Shareholdings of the top ten shareholders | ||||||||||||||||||||||||
Name of shareholder |
Nature of shareholder |
Number of shares held | Shareholding (%) | Number
of shares held | Share pledged, marked or frozen | |||||||||||||||||||
Status of shares | Number | |||||||||||||||||||||||
China Railway Guangzhou Group Co., Ltd. |
State-owned legal person | 2,629,451,300 | 37.12 | - | Nil | - | ||||||||||||||||||
HKSCC NOMINEES LIMITED (note) | Foreign legal | 1,493,112,192 | 21.08 | - | Nil | - | ||||||||||||||||||
Lin Naigang |
Domestic natural person | 124,000,000 | 1.75 | - | Nil | - | ||||||||||||||||||
Hong Zejun |
Domestic natural person | 100,000,000 | 1.41 | - | Nil | - | ||||||||||||||||||
Li Wei |
Domestic natural person | 51,979,601 | 0.73 | - | Nil | - | ||||||||||||||||||
China Construction Bank Corporation - Huaan State-owned Enterprise Reform Theme Flexible Allocation of Hybrid Securities Investment Fund | Other | 43,294,418 | 0.61 | - | Nil | - | ||||||||||||||||||
Taiyuan Iron and Steel (Group) Co., Ltd. |
State-owned legal person | 29,729,989 | 0.42 | - | Nil | - | ||||||||||||||||||
Harvest Fund - Agricultural Bank of China - Harvest CSI Financial Asset Management Plan | Other | 27,163,700 | 0.38 | - | Nil | - | ||||||||||||||||||
Yinhua Fund - Agricultural Bank of China - Yinhua CSI Financial Assets Management Scheme | Other | 26,814,300 | 0.38 | - | Nil | - | ||||||||||||||||||
Central European Fund - Agricultural Bank of China - Central European CSI Financial Asset Management Plan | Other | 26,436,800 | 0.37 | - | Nil | - |
- 4 -
Top ten holders of shares without selling restrictions | ||||||||||||
Name of shareholder | Number of shares restrictions | Class and number of shares | ||||||||||
Class | Number | |||||||||||
China Railway Guangzhou Group Co., Ltd. | 2,629,451,300 | RMB ordinary shares | 2,629,451,300 | |||||||||
HKSCC NOMINEES LIMITED (note) | 1,493,112,192 | RMB ordinary shares | 75,907,893 | |||||||||
Overseas listed foreign shares | 1,417,204,299 | |||||||||||
Lin Naigang | 124,000,000 | RMB ordinary shares | 124,000,000 | |||||||||
Hong Zejun | 100,000,000 | RMB ordinary shares | 100,000,000 | |||||||||
Li Wei | 51,979,601 | RMB ordinary shares | 51,979,601 | |||||||||
China Construction Bank Corporation - Huaan State-owned Enterprise Reform Theme Flexible Allocation of Hybrid Securities Investment Fund | 43,294,418 | RMB ordinary shares | 43,294,418 | |||||||||
Taiyuan Iron and Steel (Group) Co., Ltd. | 29,729,989 | RMB ordinary shares | 29,729,989 | |||||||||
Harvest Fund - Agricultural Bank of China - Harvest CSI Financial Asset Management Plan | 27,163,700 | RMB ordinary shares | 27,163,700 | |||||||||
Yinhua Fund - Agricultural Bank of China - Yinhua CSI Financial Assets Management Scheme | 26,814,300 | RMB ordinary shares | 26,814,300 | |||||||||
Central European Fund - Agricultural Bank of China - Central European CSI Financial Asset Management Plan | 26,436,800 | RMB ordinary shares | 26,436,800 | |||||||||
Statement regarding the connected relationship or acting in concert arrangements of the above shareholders |
The Company is not aware of any of the above shareholders being connected or acting in concert as defined in the "Administrative Measures on Acquisitions of Listed Companies (《上市公司收購管理辦法》)". | |||||||||||
Description of the top ten shareholders and top ten shareholders holding shares without selling restrictions participate in margin financing and securities lending and refinancing business (if any) |
Li Wei holds a total of 51,979,601 shares of the Company, including 51,978,801 shares held through ordinary securities accounts and 800 shares held through credit securities accounts. |
Note: | 75,907,893 A shares and 1,417,204,299 H shares of the Company were held by HKSCC NOMINEES LIMITED in the capacity of various clients. |
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IV. | OTHER MATTERS THAT NEED TO BE BROUGHT TO THE ATTENTION OF INVESTORS IN RELATION TO THE COMPANY'S OPERATIONS DURING THE REPORTING PERIOD |
☐ Applicable ☑ Not applicable
V. | QUARTERLY FINANCIAL STATEMENTS |
(1) | Type of Audit Opinion |
☐ Applicable ☑ Not applicable
(2) | Financial Statements |
Combined Balance Sheet
31 March, 2022
Prepared by: Guangshen Railway Company Limited Unit: ¥ Currency: RMB Audit type: Unaudited
Items | 31 March 2022 | 31 December 2021 | ||||||
Current Asset: | ||||||||
Bank balances and cash | 1,237,853,720 | 1,559,462,301 | ||||||
Trade receivables | 4,433,316,947 | 4,396,173,803 | ||||||
Prepayments | 5,266,721 | 3,949,426 | ||||||
Other receivables | 367,606,013 | 416,525,717 | ||||||
Inventories | 275,353,444 | 271,583,112 | ||||||
Other current assets | 56,775,022 | 87,819,176 | ||||||
Total current assets | 6,376,171,867 | 6,735,513,535 | ||||||
Non-current assets: | ||||||||
Debt Investments | 160,000,000 | 160,000,000 | ||||||
Long-term receivables | 20,556,953 | 20,226,271 | ||||||
Long-term equity investments | 230,049,409 | 225,337,683 | ||||||
Investment in other equity instruments | 463,695,717 | 463,695,717 | ||||||
Fixed assets | 23,586,800,383 | 24,008,179,306 | ||||||
Constructions-in-progress | 1,605,133,167 | 1,588,934,669 | ||||||
Right-of-use assets | 1,333,178,771 | 1,337,240,373 | ||||||
Intangible assets | 1,767,959,966 | 1,781,123,351 | ||||||
Goodwill | 281,254,606 | 281,254,606 |
- 6 -
Combined Balance Sheet (Continued)
31 March, 2022
Prepared by: Guangshen Railway Company Limited Unit: ¥ Currency: RMB Audit type: Unaudited
Items | 31 March 2022 | 31 December 2021 | ||||||
Long-term prepaid expenses | 57,723,953 | 64,140,242 | ||||||
Deferred income tax assets | 802,991,366 | 698,396,364 | ||||||
Other non-current assets | 42,653,023 | 39,380,409 | ||||||
Total non-current assets | 30,351,997,314 | 30,667,908,991 | ||||||
Total assets | 36,728,169,181 | 37,403,422,526 | ||||||
Current liabilities: | ||||||||
Trade payables | 5,241,796,988 | 5,589,418,347 | ||||||
Bill payables | 500,000,000 | 300,000,000 | ||||||
Receipts in advance | 595,815 | 13,115 | ||||||
Contract liabilities | 79,851,599 | 112,441,522 | ||||||
Staff remuneration payable | 422,107,715 | 509,406,312 | ||||||
Tax payable | 17,694,630 | 77,883,113 | ||||||
Other payables | 1,415,509,469 | 1,384,216,163 | ||||||
Other current liabilities | 1,544,110 | 3,540,916 | ||||||
Non-current liabilities due within one year | 63,301,887 | 63,248,985 | ||||||
Total current liabilities | 7,742,402,213 | 8,040,168,473 | ||||||
Non-current liabilities: | ||||||||
Lease liabilities | 1,321,981,754 | 1,320,834,843 | ||||||
Deferred income | 767,650,618 | 781,562,772 | ||||||
Deferred income tax liabilities | 55,796,654 | 56,419,835 | ||||||
Total non-current liabilities | 2,145,429,026 | 2,158,817,450 | ||||||
Total liabilities | 9,887,831,239 | 10,198,985,923 |
- 7 -
Combined Balance Sheet (Continued)
31 March, 2022
Prepared by: Guangshen Railway Company Limited Unit: ¥ Currency: RMB Audit type: Unaudited
Items | 31 March 2022 | 31 December 2021 | ||||||
Owners' equity (or shareholders' equity): | ||||||||
Paid-in capital (or share capital) | 7,083,537,000 | 7,083,537,000 | ||||||
Capital reserves | 11,572,973,273 | 11,573,003,266 | ||||||
Other comprehensive income | 181,940,940 | 181,940,940 | ||||||
Appropriative reserves | 45,957,934 | 11,883,787 | ||||||
Surplus reserves | 3,084,484,726 | 3,084,484,726 | ||||||
Retained earnings | 4,908,729,031 | 5,307,100,056 | ||||||
Total equity attributable to owners of the parent (or shareholders' equity) | 26,877,622,904 | 27,241,949,775 | ||||||
Minority interests | (37,284,962 | ) | (37,513,172 | ) | ||||
Total owners' equity (or shareholders' equity) | 26,840,337,942 | 27,204,436,603 | ||||||
Total liabilities and owners' equity (or shareholders' equity) | 36,728,169,181 | 37,403,422,526 |
Chairman: Wu Yong General Manager: Hu Lingling
Chief Accountant: Luo Xinpeng Chief of Finance Department: Liu Qiyi
- 8 -
Combined Statement of Profit
January to March 2022
Prepared by: Guangshen Railway Company Limited Unit: ¥ Currency: RMB Audit type: Unaudited
Items | The first quarter of 2022 | The first quarter of 2021 | ||||||
I. Total revenues from operation | 4,998,622,697 | 4,413,764,612 | ||||||
Include: Revenues from operation | 4,998,622,697 | 4,413,764,612 | ||||||
II. Total operating costs | 5,526,851,177 | 4,577,882,895 | ||||||
Include: Operating costs | 5,461,895,916 | 4,498,687,910 | ||||||
Business tax and surcharges | 1,590,559 | 11,096,089 | ||||||
Management expenses | 55,199,239 | 57,805,062 | ||||||
Finance costs | 8,165,463 | 10,293,834 | ||||||
Include: Interest expense | 16,945,322 | 16,875,271 | ||||||
Interest income | 9,304,848 | 6,805,008 | ||||||
Add: Other gains | 22,660,749 | 4,128,123 | ||||||
Gains from investments (loss denoted by "-") | 4,741,718 | (565,696 | ) | |||||
Include: Gains from investments in associates and joint ventures | 4,741,718 | (565,696 | ) | |||||
Loss from credit impairment (loss denoted by "-") | - | 42,504,173 | ||||||
III. Profit from operation (loss denoted by "-") | (500,826,013 | ) | (118,051,683 | ) | ||||
Add: Non-operating income | 3,005,075 | 3,555,622 | ||||||
Less: Non-operating expenses | 4,663,953 | 2,992,973 | ||||||
IV. Gross profit (gross loss denoted by "-") | (502,484,891 | ) | (117,489,034 | ) | ||||
Less: Income tax expenses | (104,342,076 | ) | (24,424,539 | ) |
- 9 -
Combined Statement of Profit (Continued)
January to March 2022
Prepared by: Guangshen Railway Company Limited Unit: ¥ Currency: RMB Audit type: Unaudited
Items | The first quarter of 2022 | The first quarter of 2021 | ||||||
V. Net profit (net loss denoted by "-") | (398,142,815 | ) | (93,064,495 | ) | ||||
(1) Classification by continuous operations | ||||||||
1. Net profit from continuous operations (net loss denoted by "-") | (398,142,815 | ) | (93,064,495 | ) | ||||
2. Net profit from discontinued operations (net loss denoted by "-") | - | - | ||||||
(2) Classification by ownership | ||||||||
1. Net profit attributable to shareholders of the parent (net loss denoted by "-") | (398,371,025 | ) | (93,372,207 | ) | ||||
2. Profit or loss of minority shareholders (net loss denoted by "-") | 228,210 | 307,712 | ||||||
VI. Net other comprehensive income after tax | - | - | ||||||
VII. Total comprehensive income | (398,142,815 | ) | (93,064,495 | ) | ||||
(1) Total comprehensive income attributable to owners of the parent | (398,371,025 | ) | (93,372,207 | ) | ||||
(2) Total comprehensive income attributable to minority shareholders | 228,210 | 307,712 | ||||||
VIII. Earnings per share: | ||||||||
(1) Basic earnings per share (¥/share) | (0.056 | ) | (0.013 | ) | ||||
(2) Diluted earnings per share (¥/share) | (0.056 | ) | (0.013 | ) |
Chairman: Wu Yong General Manager: Hu Lingling
Chief Accountant: Luo Xinpeng Chief of Finance Department: Liu Qiyi
- 10 -
Combined Cash Flow Statement
January to March 2022
Prepared by: Guangshen Railway Company Limited Unit: ¥ Currency: RMB Audit type: Unaudited
Items | The first quarter of 2022 | The first quarter of 2021 | ||||||
I. Cash flows from operating activities: | ||||||||
Cash received from sales of goods or rendering of services | 2,916,362,577 | 3,176,340,726 | ||||||
Refunds of taxes received | 77,107,449 | - | ||||||
Cash received relating to other operating activities | 107,220,876 | 126,329,817 | ||||||
Sub-total of cash inflows from operating activities | 3,100,690,902 | 3,302,670,543 | ||||||
Cash paid for goods purchased and services accepted | 1,226,775,119 | 1,527,901,836 | ||||||
Cash paid to and on behalf of employees | 1,821,891,627 | 1,769,375,631 | ||||||
Tax paid | 75,816,994 | 103,567,319 | ||||||
Cash paid relating to other operating activities | 178,754,094 | 152,364,035 | ||||||
Sub-total of cash outflows from operating activities | 3,303,237,834 | 3,553,208,821 | ||||||
Net cash flows from operating activities | (202,546,932 | ) | (250,538,278 | ) | ||||
II. Cash flows from investing activities: | ||||||||
Net cash received from disposal of fixed assets, intangible assets and other long-term assets | 12,639,334 | 93,802,016 | ||||||
Cash received from gains from investments | 12,639,334 | 93,802,016 | ||||||
Cash paid to construct fixed assets, intangible assets and other long-term assets | 115,946,266 | 197,417,695 | ||||||
Sub-total of cash outflows from investing activities | 115,946,266 | 197,417,695 | ||||||
Net cash flows from investing activities | (103,306,932 | ) | (103,615,679 | ) |
- 11 -
Combined Cash Flow Statement (Continued)
January to March 2022
Prepared by: Guangshen Railway Company Limited Unit: ¥ Currency: RMB Audit type: Unaudited
Items | The first quarter of 2022 | The first quarter of 2021 | ||||||
III. Cash flows from financing activities: | ||||||||
Cash paid relating to other financing activities | 15,754,717 | - | ||||||
Sub-total of cash outflows from financing activities | 15,754,717 | - | ||||||
Net cash flows from financing activities | (15,754,717 | ) | - | |||||
IV. Effect of foreign exchange rate changes on cash and cash equivalents | - | - | ||||||
V. Net increase in cash and cash equivalents | (321,608,581 | ) | (354,153,957 | ) | ||||
Add: Balance of cash and cash equivalents at the beginning of the period | 1,719,462,301 | 1,545,232,043 | ||||||
VI. Balance of cash and cash equivalents at the end of the period | 1,397,853,720 | 1,191,078,086 |
Chairman: Wu Yong General Manager: Hu Lingling
Chief Accountant: Luo Xinpeng Chief of Finance Department: Liu Qiyi
(3) | Relevant Information on the adjustment to the implementation of the financial statements at the beginning of such year for the first time against initial application of the new accounting standards since 2022 |
☐ Applicable ☑ Not applicable
The announcement is hereby made.
Board of Directors
Guangshen Railway Company Limited
28 April 2022
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Guangshen Railway Co. Ltd. published this content on 29 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2022 13:05:19 UTC.