Sino Great Wall Co., Ltd. The First Quarterly Report 2018 Sino Great Wall Co., Ltd.
The First Quarterly Report 2018
April 2018
Sino Great Wall Co., Ltd. The First Quarterly Report 2018 1 Important Notice
The Board of Directors ,Supervisory Committee, all directors, supervisors and senior executives of the Company hereby guarantees that there are no misstatement, misleading representation or important omissions in this report and shall assume joint and several liability for the authenticity, accuracy and completeness of the contents hereof. All the directors attended the board meeting for reviewing the Quarterly Report.
Mr.Chen Lue, Person in charge of the Company, Mr.Tang Xianyong, Chief financial officer and the Mr. Tang Xianyong, the person in charge of the accounting department (the person in charge of the accounting )hereby confirm the authenticity and completeness of the financial report enclosed in this Quarterly Report .
II. Basic information about the company
（1）Main financial data and financial index
Indicate by tick mark whether the Company needs to retroactively restate any of its accounting data.
□ Yes√ No
|||||
|-|-|-|-|
||||Changes of this period over|
||This period|Same period of last year|same period of last year|
||||（％）|
|Operating income（Yuan）|923,442,740.92|1,059,865,573.83|-12.87%|
|Net profit attributable to the shareholders|218,523,628.75|99,029,586.64||
||||120.66%|
|of the listed company（Yuan）||||
|Net profit after deducting of non-recurring||||
|gain/loss attributable to the shareholders of|59,559,955.14|99,029,586.64|-39.86%|
|listed company（Yuan）||||
|Cash flow generated by business operation,|809,676,459.22|-447,147,216.26||
||||281.08%|
|net（Yuan）||||
|Basic earning per share(Yuan/Share)|0.1287|0.0583|120.75%|
|Diluted gains per share(Yuan/Share)|0.1287|0.0583|120.75%|
|Weighted average return on equity（%）|9.69%|5.44%|4.25%|
||||Changes of this period-end|
||End of this period|End of last period||
||||over same period-end of last|

Sino Great Wall Co., Ltd. The First Quarterly Report 2018
|||||
|-|-|-|-|
||||year(%)|
|Gross assets（Yuan）|11,806,550,835.12|11,667,845,186.30|1.19%|
|Net assets attributable to the shareholders|2,359,913,659.75|2,151,482,467.52||
||||9.69%|
|of the listed company（Yuan）||||

Items and amount of non-current gains and losses
√ Applicable□ Not applicable
In RMB
||||
|-|-|-|
||Amount from beginning of||
|Items|the year to the end of the|Notes|
||report period||
|Income equal to the amount by which investment costs for the|||
|||The main reason is the|
|Company to obtain subsidiaries, associates and joint ventures are|||
||88,485,792.54|acquisition of Acura Kliniken|
|lower than the Company’s enjoyable fair value of identifiable net|||
|||Baden-Baden GmbH Co., Ltd.|
|assets of investees when making investments|||
|||The main reason is the receipt of|
|Other gains and losses that meet definition of nonrecurring|||
||113,437,382.46|compensation from Hualian|
|gain/loss|||
|||Development Group Co., Ltd.|
|Less: Amount of influence of income tax|42,959,501.39||
|Total|158,963,673.61|--|

For theCompany’s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on
information disclosure for Companies Offering their Securities to the Public-Non-recurring Gains and Losses and its non-recurring gain/loss items as illustrated in the Explanatory Announcement No.1 on information Disclosure for Companies offering their securities to the public-non-recurring Gains and losses which have been defined as recurring gains and losses, it is necessary to explain the reason.
□Applicable√ Not applicable
None of Non-recurring gain /loss items recognized as recurring gain /loss/items as defined by the information disclosure explanatory Announcement No.1- Non–recurring gain/loss in the report period.
Sino Great Wall Co., Ltd. The First Quarterly Report 2018 II.Total Shareholders and Shares Held by Top Ten Shareholders at the End of the Reporting Period 1. About Total Common Shareholders, Total Preference Shareholders with the Voting Power Recovered and the Shares Held by Top Ten Common Shareholders
In shares
||||||||
|-|-|-|-|-|-|-|
||||Total preference shareholders with||||
|Total number of common|||||||
|||67,825|the voting power recovered at the||0||
|shareholders at the period-end|||||||
||||end of the reporting period(if any)||||
|Shares held by the top 10 shareholders|||||||
|||||Amount of|Pledging or freezing||
||Properties of|Share||tradable shares|||
|Shareholder name|||Quantity||Status of the||
||shareholder|proportion %||with Conditional||Quantity|
||||||shares||
|||||held|||
|Chen Lue|Domestic Naturalperson|34.36%|583,454,556|581,340,196|||
||||||Pledge|543,576,594|
|STYLE-SUCCESS LIMITED|Foreign legalperson|5.47%|92,970,910|0|||
|Union HoldingsCo., Ltd.|Domestic Non-State-owned legalperson|5.18%|87,935,921|0|||
|He Feiyan|Domestic Naturalperson|3.23%|54,800,458|54,800,458|||
|Jiutai Fund－Bank ofCommunications－Jiutai HuitongNo.2 specificcustomer assetmanagement plan|Other|2.50%|42,479,672|42,479,672|||
|BohaiInternationalTrust Co., Ltd.－BohaiTrust·205HenglifengSingle fund trust|Other|1.69%|28,708,000|0|||
|Rich CrownInvestment Co.,Ltd.|Foreign legalperson|1.37%|23,235,313|0|||
|Huatai SecuritiesCo., Ltd.|Huatai SecuritiesCo., Ltd.|1.01%|17,128,720|0|||

Sino Great Wall Co., Ltd. The First Quarterly Report 2018
||||||||
|-|-|-|-|-|-|-|
|Qinghai HeyiIndustryDevelopmentCo., Ltd.|Domestic Non-State-owned legalperson|0.79%|13,357,084|0|||
||||||Pledge|13,357,000|
|Song Wenguang|Domestic Naturalperson|0.55%|9,278,581|0|||
|Shareholding of top 10 shareholders of unrestricted shares|||||||
|||Quantity of unrestricted shares held at the end of the|||Share type||
|Name of the shareholder|||||||
|||reporting period|||Share type|Quantity|
|STYLE-SUCCESS LIMITED||92,970,910|||Foreign shares||
||||||placed in||
|||||||92,970,910|
||||||domestic||
||||||exchange||
|Union Holdings Co., Ltd.||87,935,921|||RMB Common||
|||||||87,935,921|
||||||shares||
|Bohai International Trust Co., Ltd.－Bohai Trust·205 HenglifengSingle fund trust||28,708,000|||||
||||||RMB Common||
|||||||28,708,000|
||||||shares||
|Rich Crown Investment Co., Ltd.||23,235,313|||Foreign shares||
||||||placed in||
|||||||23,235,313|
||||||domestic||
||||||exchange||
|Huatai Securities Co., Ltd.||17,128,720|||RMB Common||
|||||||17,128,720|
||||||shares||
|Qinghai Heyi Industry DevelopmentCo., Ltd.||13,357,084|||RMB Common||
|||||||13,357,084|
||||||shares||
|Song Wenguang||9,278,581|||Foreign shares||
||||||placed in||
|||||||9,278,581|
||||||domestic||
||||||exchange||
|Cai Yu||9,000,000|||RMB Common||
|||||||9,000,000|
||||||shares||
|Huang Huaian||8,507,000|||RMB Common||
|||||||8,507,000|
||||||shares||
|Zhang Xubao||8,424,300|||RMB Common||
|||||||8,424,300|
||||||shares||
|||Mr. Chen Lue and Ms. He Feiyan are the unanimous persons; Union Development Group|||||
|Explanation on associated|||||||
|||Co., Ltd..is the controlling shareholder of the Above –mentioned shareholder Union Holdings|||||
|relationship or concerted action of|||||||
|||Co., Ltd. And Rich Grown Investment Co., Ltd.. Holding Co., Ltd. and Rich Crown|||||
|the above shareholders|||||||
|||Investment Co., Ltd., The other tradable shareholders neither knew whether there exists|||||

Sino Great Wall Co., Ltd. The First Quarterly Report 2018
|||
|-|-|
||associated relationship between them.|
|Note to the top 10 common||
|stockholders involved in margin||
||Nil|
|financing & securities lending (If||
|any)||

Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a buy-back agreement dealing in reporting period.
□ Yes√ No
Mr.Huang Huaian, an unlimited-sales condition shareholder, agreed on the buy-back of 1,493,000 shares-which accounts for0.0879%.
2.Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end of the report period
□ Applicable√Not applicable
Sino Great Wall Co., Ltd. The First Quarterly Report 2018 II Significant Events
I. Major changes of main accounting statement items and financial indicators in the reporting period, as well as reasons for the changes
√ Applicable□ Not applicable
||||||
|-|-|-|-|-|
|Items|This period/Year-end|Same period of the|Changes (%)|Remarks on the change|
||balance|previous|||
|||year/Year-beginning|||
|||balance|||
|Notes receivable|168,722,253.97|288,201,562.88|-41.46%|Mainly result from the maturity of the notes|
|Advance Payment|515,501,256.41|225,208,527.88|128.90%|Main result from the mobilization of a greatnumber of PPP Projects|
|Inventory|374,186,902.06|556,839,325.50|-32.80%|Mainly because the projects operation issmooth, and the inventory is turned into cost|
|Project underConstruction|8,139,858.34|4,968,590.96|63.83%|Mainly result from the Expense of PurchasingOverseas Tower cranes|
|Fixed Asset|319,942,259.74|174,537,150.56|83.31%|Mainly result from the M&A of AcuraKliniken Baden-Baden GmbH|
|Intangible Asset|176,532,391.78|127,524,445.00|38.43%|Mainly result from the M&A of AcuraKliniken Baden-Baden GmbH|
|Notes Payable|1,325,439,811.58|906,597,988.15|46.20%|Mainly result from the most Payment of thisPeriod by Notes|
|Predivted Liability|18,719,986.71|3,414,189.15|448.30%|Mainly result from the M&A of AcuraKliniken Baden-Baden GmbH|
|Deferred TaxLiability|40,689,117.48|26,088,961.71|55.96%|Mainly result from the M&A of AcuraKliniken Baden-Baden GmbH|
|Finance Expense|92,188,683.69|49,367,053.47|86.74%|Mainly from the Increased Loan from bank|
|Asset ImpairmentLoss|7,032,450.06|21,815,009.43|-67.76%|Mainly result from the Good Payment fromClient in this Period|
|Non-operatiingRevenue|188,488,727.79|7,714.78|2 , 4 4 3 ,1 1 5 . 8 5%|Mainly result from the Land Compensationfr o m Hualian and the Added Value ofGermany Baden Hospital|
|Net Cash Flow fromOperating Activity|809,676,459.22|-447,147,216.26|281.08%|Mainly result from the project’s smoothoperation and good payment from client.|
|Net Cash flow from|-624,966,136.18|182,667,608.55|-442.13%|Mainly result from the No. of repayment is|

Sino Great Wall Co., Ltd. The First Quarterly Report 2018
|||
|-|-|
|Financing Activity|more of this Period.|

II. The progress of significant events and influence, as well as the analysis and explanation on resolving proposal.
√ Applicable□ Not applicable
1. October 2015, the company implemented the Plan of Major Asset Replacement and Issuance of Shares to Purchase the Asset Namely the Related Transaction and Raising the Matching Funds, but theland-that’s located in Shenzhen Nanshan Nanyou Industrial Zone with the Land No. of T104-0054 and the total area of 20,032.1 square meters- and its above-ground buildings were not included in the evaluation scope of the major asset restructuring. In order to properly resolve the subsequent issues related to the land in this restructuring, during the reporting period, the Company-Union Development Group Co., Ltd and Mr. Chen Lue successively signed the “Framework Agreement on the Subsequent Matters after the Period for the Major Asset Restructuring of Shenzhen Victor Onward Textile Industrial Co., Ltd.”. The "Economic Compensation Agreement for Subsequent Matters after the Period for the Major Asset Restructuring of Shenzhen Victor Onward Textile Industrial Co., Ltd." and the "Supplementary Agreement on the Economic Compensation Agreement for Subsequent Matters after the Period for the Major Asset Restructuring of Shenzhen Victor Onward Textile Industrial Co., Ltd.", and fulfilled the necessary review procedures for information disclosure obligations. On March 29, 2018, the Company received the economic compensation of RMB 100 million from Shenzhen Union Development Investment Co., Ltd designated by Union Development Group in connection to the above-mentioned matters.
||||
|-|-|-|
|||Description of the website for disclosing provisional|
|Overview of material matters|Date of disclosing||
|||announcements|
|Union Development Group Co., Ltd payscompensation of RMB 100 million to thecompany||http://www.cninfo.com.cn：Announcement (after correction) on|
|||Voluntary Information Disclosure Concerning Union|
||February 24,2018||
|||Development Group Co., Ltd Giving Compensation about RMB|
|||100 million (Announcement No.:2018-029)|
|||http://www.cninfo.com.cn：Announcement of Resolutions of the|
|||30th Meeting of the Seventh Board of Directors(Announcement|
|||No.:2018-36), Announcement on Signing the Economic|
||March 13,2018||
|||Compensation Agreement and Changes in the Shareholder's|
|||Commitment Namely the Related Transaction(Announcement|
|||No.:2019-038)|
|||http://www.cninfo.com.cn：Announcement of Resolutions of the|
||March 19,2018|First provisional shareholders of 2018（Announcement|
|||No.:2018-050）|

2. On March 15th, 2018, the Baden Court made a ruling that the Bankruptcy Proceedings of Acura Kliniken Baden-Baden GmbH has ended officially. And in the reporting Period, the Company will consolidate it into Finance Statement based on its fair value, which increases the non-operating revenue.
Sino Great Wall Co., Ltd. The First Quarterly Report 2018 III. Commitments finished in implementation by the Company, shareholders, actual controller, acquirer, directors, supervisors, senior executives or other related parties in the reporting period and commitments unfinished in implementation at the end of the reporting period
□Applicable□√ Not applicable
The Company has no commitments completed in Period and those without completed till end of the Period from actual controller, shareholders, related parties, purchaser and companies.
IV．Prediction of Business performance for January- June 2018
Estimation of accumulative net profit from the beginning of the year to the end of next report period to be loss probably or the warning of its material change compared with the corresponding period of the last year and explanation of reason.
□Applicable□√ Not applicable
V. Investment in securities
□ Applicable√ Not applicable
No securities investment in period.
VI. Investments in derivatives
□ Applicable√ Not applicable
There is no derivative investment during the report period.
VII. The registration form of acceptance of investigation, communication and interview in the report period for future reference
√Applicable□ Not applicable
|||||
|-|-|-|-|
|Reception time|Way of reception|Types of visitors|Basic index|
||||The interactive relation with the|
||||investors on Shenzhen Stock Exchange|
|March 8,2018|Onsite investigation|Organization|platform about Sino Great Wall Co., Ltd:|
||||Record of the investors relations|
||||activities on March 8, 2018.|

VIII. External guarantee get out of line
□ Applicable√Not applicable
The Company has no external guarantee get out of the line in the Period
Sino Great Wall Co., Ltd. The First Quarterly Report 2018 IX. Controlling shareholder and its related parties occupying non-business capital of the listed company□ Applicable√Not applicable
There are no controlling shareholder and its related parties occupying non-business capital of the listed company in Period
Sino Great Wall Co., Ltd. The First Quarterly Report 2018 IV. Financial Statement
I. Financial statement
1. Consolidated balance sheet
Preparedby：Sino Great Wall Co., Ltd.
March 31,2018
In RMB
||||
|-|-|-|
|Items|At the end of term|Beginning of term|
|Current asset：|||
|Monetary fund|1,636,762,450.39|1,604,973,916.12|
|Settlement provision|||
|Outgoing call loan|||
|Financial assets measured at fair|||
|value with variations accounted into|||
|current income account|||
|Derivative financial assets|||
||168,722,253.97|288,201,562.88|
|Notes receivable|||
|Account receivable|5,591,716,105.14|5,706,675,244.08|
|Prepayments|515,501,256.41|225,208,527.88|
|Insurance receivable|||
|Reinsurance receivable|||
|Provisions of Reinsurance contracts|||
|receivable|||
|Interest receivable|||
|Dividend receivable|||
|Other account receivable|1,821,090,071.66|1,674,675,360.28|
|Repurchasing of financial assets|||
|Inventories|374,186,902.06|556,839,325.50|
|Assets held for sales|||
|Non-current asset due in 1 year|||
|Other current asset|20,818,875.21|17,126,911.05|
|Total of current assets|10,128,797,914.84|10,073,700,847.79|

Sino Great Wall Co., Ltd. The First Quarterly Report 2018
||||
|-|-|-|
|Non-current assets：|||
|Loans and payment on other’s behalf|||
|disbursed|||
|Disposable financial asset|10,338,500.00|10,338,500.00|
|Expired investment in possess|||
|Long-term receivable|14,328,557.82|14,328,557.82|
|Long term share equity investment|||
|Property investment|||
|Fixed assets|319,942,259.74|174,537,150.56|
|Construction in progress|8,139,858.34|4,968,590.96|
|Engineering material|||
|Fixed asset disposal|||
|Production physical assets|||
|Gas & petrol|||
|Intangible assets|176,532,391.78|127,524,445.00|
|R & D petrol|||
|Goodwill|57,769,954.64|64,494,271.55|
|Long-germ expenses to be amortized|11,590,609.38|10,124,913.15|
|Deferred income tax asset|117,605,436.00|118,233,337.36|
|Other non-current asset|961,505,352.58|1,069,594,572.11|
|Total of non-current assets|1,677,752,920.28|1,594,144,338.51|
|Total of assets|11,806,550,835.12|11,667,845,186.30|
|Current liabilities|||
|Short-term loans|3,086,028,831.97|3,477,200,420.55|
|Loan from Central Bank|||
|Deposit received and hold for others|||
|Call loan received|||
|Financial liabilities measured at fair|||
|value with variations accounted into|||
|current income account|||
|Derivative financial liabilities|||
|Notes payable|1,325,439,811.58|906,597,988.15|
|Account payable|1,710,633,582.91|1,719,579,087.62|
|Advance payment|174,174,308.95|146,379,852.67|
|Selling of repurchased financial assets|||

Sino Great Wall Co., Ltd. The First Quarterly Report 2018
||||
|-|-|-|
|Fees and commissions receivable|||
|Employees’ wage payable|32,693,613.78|21,911,542.07|
|Tax payable|398,179,225.58|357,445,477.71|
|Interest payable|15,377,203.19|16,105,263.85|
|Dividend payable|||
|Other account payable|459,301,387.88|520,965,421.13|
|Reinsurance fee payable|||
|Insurance contract provision|||
|Entrusted trading of securities|||
|Entrusted selling of securities|||
|Liabilities held for sales|||
|Non-current liability due in 1 year|591,052,590.16|820,422,471.45|
|Other current liability|112,515,215.80|121,529,600.95|
|Total of current liability|7,905,395,771.80|8,108,137,126.15|
|Non-current liabilities：|||
|Long-term loan|954,444,875.76|843,092,471.02|
|Bond payable|345,000,000.00|345,000,000.00|
|Including：preferred stock|||
|Sustainable debt|||
|Long-term payable|62,685,524.71|81,945,567.86|
|Long-term payable employees’s|||
|remuneration|||
|Special payable|||
|Expected liabilities|18,719,986.71|3,414,189.15|
|Deferred income|||
||40,689,117.48|26,088,961.71|
|Deferred income tax liability|||
|Other non-current liabilities|||
|Total non-current liabilities|1,421,539,504.66|1,299,541,189.74|
||9,326,935,276.46|9,407,678,315.89|
|Total of liability|||
|Owners’ equity|||
||1,698,245,011.00|1,698,245,011.00|
|Share capital|||
|Other equity instrument|||
|Including：preferred stock|||
|Sustainable debt|||

Sino Great Wall Co., Ltd. The First Quarterly Report 2018
||||
|-|-|-|
|Capital reserves|-1,299,349,701.74|-1,299,349,701.74|
|Less：Shares in stock|||
|Other comprehensive income|-447,011.87|858,242.13|
|Special reserves|155,443,895.67|164,231,078.18|
|Surplus reserves|84,394,441.23|84,394,441.23|
|Common risk provision|||
||1,721,627,025.46|1,503,103,396.72|
|Undistributed profit|||
|Total of owner’s equity belong to the|||
||2,359,913,659.75|2,151,482,467.52|
|parent company|||
|Minority shareholders’ equity|119,701,898.91|108,684,402.89|
|Total of owners’ equity|2,479,615,558.66|2,260,166,870.41|
|Total of liabilities and owners’ equity|11,806,550,835.12|11,667,845,186.30|

 Legal Representative: Chen Lue Person in charge ofaccounting：Tang Xianyong Accounting Dept Leader: Tang Xianyong 2.Parent Company Balance Sheet
In RMB
||||
|-|-|-|
|Items|At the end of term|Beginning of term|
|Current asset：|||
|Monetary fund|373,269,295.69|407,959,304.60|
|Financial assets measured at fair value|||
|with variations accounted into current|||
|income account|||
|Derivative financial assets|||
|Notes receivable|||
|Account receivable|||
|Prepayments|4,264,166.67|3,865,500.01|
|Interest receivable|||
|Dividend receivable|100,000,000.00|100,000,000.00|
|Other account receivable|3,347,985,803.76|3,590,967,483.22|
|Inventories|||
|Assets held for sales|||
|Non-current asset due in 1 year|||
|Other current asset|2,317,250.17|2,175,646.45|
|Total of current assets|3,827,836,516.29|4,104,967,934.28|
|Non-current assets：|||

Sino Great Wall Co., Ltd. The First Quarterly Report 2018
||||
|-|-|-|
|Disposable financial asset|||
|Expired investment in possess|||
|Long-term receivable|||
|Long term share equity investment|3,311,211,536.66|3,311,211,536.66|
|Property investment|53,943.99|52,246.48|
|Fixed assets|||
|Construction in progress|||
|Engineering material|||
|Fixed asset disposal|||
|Production physical assets|||
|Gas & petrol|||
|Intangible assets|||
|R & D petrol|||
|Goodwill|||
|Long-germ expenses to be amortized|126,213.65|168,284.84|
|Deferred income tax asset|||
|Other non-current asset|550,524,570.00|550,524,570.00|
|Total of non-current assets|3,861,916,264.30|3,861,956,637.98|
|Total of assets|7,689,752,780.59|7,966,924,572.26|
|Current liabilities|||
|Short-term loans|2,027,270,000.00|2,287,870,000.00|
|Financial liabilities measured at fair|||
|value with variations accounted into|||
|current income account|||
|Derivative financial liabilities|||
|Notes payable|547,227,578.11|537,227,578.11|
|Account payable|||
|Advance payment|||
|Employees’ wage payable|3,166,232.62|1,580,335.12|
|Tax payable|114,135,019.88|97,124,633.81|
|Interest payable|12,015,092.53|13,002,236.21|
|Dividend payable|||
|Other account payable|433,584,506.31|379,420,427.54|
|Classified as held for sale debt|||
|Non-current liability due in 1 year|550,000,000.00|700,000,000.00|

Sino Great Wall Co., Ltd. The First Quarterly Report 2018
||||
|-|-|-|
|Other current liability|||
|Total of current liability|3,687,398,429.45|4,016,225,210.79|
|Non-current liabilities：|||
|Long-term loan|800,000,000.00|800,000,000.00|
|Bond payable|100,000,000.00|100,000,000.00|
|Including：preferred stock|||
|Sustainable debt|||
|Long-term payable|||
|Long-term payable to employees|||
|Special payable|||
|Expected liabilities|||
|Deferred income|||
|Deferred income tax liability|||
|Other non-current liabilities|||
|Total of Non-current liabilities|900,000,000.00|900,000,000.00|
|Total of liability|4,587,398,429.45|4,916,225,210.79|
|Owners’ equity|||
|Share capital|1,698,245,011.00|1,698,245,011.00|
|Other equity instrument|||
|Including：preferred stock|||
|Sustainable debt|||
|Capital reserves|1,237,956,472.37|1,237,956,472.37|
|Less：Shares in stock|||
|Other comprehensive income|||
|Special reserves|||
|Surplus reserves|26,309,287.00|26,309,287.00|
|Undistributed profit|139,843,580.77|88,188,591.10|
|Total of owners’ equity|3,102,354,351.14|3,050,699,361.47|
|Total of liabilities and owners’ equity|7,689,752,780.59|7,966,924,572.26|

 3.Consolidated Income statement
In RMB
||||
|-|-|-|
|Items|Amount in this period|Amount in last period|
|I. Income from the key business|923,442,740.92|1,059,865,573.83|

Sino Great Wall Co., Ltd. The First Quarterly Report 2018
||||
|-|-|-|
|Incl：Business income|923,442,740.92|1,059,865,573.83|
|Interest income|||
|Insurance fee earned|||
|Fee and commission received|||
|II. Total business cost|870,627,801.52|935,317,023.20|
|Incl：Business cost|694,723,215.49|792,699,521.00|
|Interest expense|||
|Fee and commission paid|||
|Insurance discharge payment|||
|Net claim amount paid|||
|Net amount provided as insurance|||
|contract reserves|||
|Insurance policy dividend paid|||
|Reinsurance expenses|||
|Business tax and surcharge|623,963.17|654,554.35|
|Sales expense|2,926,234.68|5,524,280.43|
|Administrative expense|73,133,254.43|65,256,604.52|
|Financial expenses|92,188,683.69|49,367,053.47|
|Asset impairment loss|7,032,450.06|21,815,009.43|
|Add：Gains from change of fir value|||
|（“-”for loss）|||
|Investment gain（“-”for loss）|13,838,400.15||
|Incl: investment gains from affiliates|||
|Gains from currency exchange（“-”for|||
|loss）|||
|Assets disposal income|||
|Other income|||
||66,653,339.55|124,548,550.63|
|III. Operational profit（“-”for loss）|||
||188,488,727.79|7,714.78|
|Add ：Non-operational income|||
||403,952.94|377,750.50|
|Less：Non business expenses|||
||254,738,114.40|124,178,514.91|
|IV.Total profit(“-”for loss)|||
||35,955,549.44|24,934,478.63|
|Less：Income tax expenses|||
||218,782,564.96|99,244,036.28|
|V. Net profit|||
|(1) Categorized by going concern|||
|(2) Termination of operating net profit|||

Sino Great Wall Co., Ltd. The First Quarterly Report 2018
||||
|-|-|-|
|Net profit attributable to the owners of|||
||218,523,628.75|99,029,586.64|
|parent company|||
|Minority shareholders’ equity|258,936.21|214,449.64|
|VI. Other comprehensive income|-1,305,254.00||
|Net of profit of other comprehensive inco|||
|me attributable to owners of the parent co|-1,305,254.00||
|mpany.|||
|（I）Other comprehensive income items|||
|that will not be reclassified into|||
|gains/losses in the subsequent accounting|||
|period|||
|1.Re-measurement of defined benefit pla|||
|ns of changes in net debt or net assets|||
|2.Other comprehensive income under the|||
|equity method investee can not be reclass|||
|ified into profit or loss.|||
|（II）|||
|Other comprehensive income that will be|-1,305,254.00||
|reclassified into profit or loss.|||
|1.Other comprehensive income under the|||
|equity method investee can be reclassifie|||
|d into profit or loss.|||
|2.Gains and losses from changes in fair v|||
|alue available for sale financial assets|||
|3.Held-to-maturity investments reclassifi|||
|ed to gains and losses of available for sal|||
|e financial assets|||
|4.The effective portion of cash flow hedg|||
|es and losses|||
|5.Translation differences in currency fina|||
||-1,305,254.00||
|ncial statements|||
|6.Other|||
|Net of profit of other comprehensive inco|||
|me attributable to Minority shareholders’|||
|equity|||
|VII. Total comprehensive income|217,477,310.96|99,244,036.28|
|Total comprehensive income attributable|||
||217,218,374.75|99,029,586.64|
|to the owner of the parent company|||

Sino Great Wall Co., Ltd. The First Quarterly Report 2018
||||
|-|-|-|
|Total comprehensive income|258,936.21||
|||214,449.64|
|attributable minority shareholders|||
|VIII. Earnings per share|||
|（I）Basic earnings per share|0.1287|0.0583|
|(II)Diluted earnings per share|0.1287|0.0583|

 Legal Representative: Chen Lue Person in charge ofaccounting：Tang Xianyong Accounting Dept Leader: Tang Xianyong 4. Income statement of the Parent Company
In RMB
||||
|-|-|-|
|Items|Amount in this period|Amount in last period|
|I. Income from the key business|55,009.01|52,513.51|
|Less：Business cost|0.00|1,482.50|
|Business tax and surcharge||34,225.74|
|Sales expense|109,539.50||
|Administrative expense|10,136,461.91|4,263,917.99|
|Financial expenses|20,935,688.04|26,301,162.18|
|Asset impairment loss||-55,784.12|
|Add：Gains from change of fir value|||
|（“-”for loss）|||
|Investment gain（“-”for loss）|||
|Incl: investment gains from affiliates|||
|Assets disposal income|||
|Other income|||
|II. Operational profit（“-”for loss）|-31,126,680.44|-30,492,490.78|
|Add ：Non-operational income|100,000,000.00||
|Less：Non business expenses|||
|III.Total profit(“-”for loss)|68,873,319.56|-30,492,490.78|
|Less：Income tax expenses|17,218,329.89||
||51,654,989.67|-30,492,490.78|
|IV. Net profit|||
|(1) Categorized by going concern|||
|(2) Termination of operating net profit|||
|V.Net of profit of other comprehensive i|||
|ncome|||
|（I）Other comprehensive income|||
|items that will not be reclassified into|||

Sino Great Wall Co., Ltd. The First Quarterly Report 2018
||||
|-|-|-|
|gains/losses in the subsequent|||
|accounting period|||
|1.Re-measurement of defined benefit pl|||
|ans of changes in net debt or net assets|||
|2.Other comprehensive income under th|||
|e equity method investee can not be recl|||
|assified into profit or loss.|||
|（ II ）|||
|Other comprehensive income that will b|||
|e reclassified into profit or loss.|||
|1.Other comprehensive income under th|||
|e equity method investee can be reclassi|||
|fied into profit or loss.|||
|2.Gains and losses from changes in fair|||
|value available for sale financial assets|||
|3.Held-to-maturity investments reclassif|||
|ied to gains and losses of available for s|||
|ale financial assets|||
|4.The effective portion of cash flow hed|||
|ges and losses|||
|5.Translation differences in currency fin|||
|ancial statements|||
|6.Other|||
|VI. Total comprehensive income|51,654,989.67|-30,492,490.78|
|VII. Earnings per share：|||
|（I）Basic earnings per share|||
|(II)Diluted earnings per share|||

5. Consolidated Cash flow statement
In RMB
||||
|-|-|-|
|Items|Amount in this period|Amount in last period|
|I.Cash flows from operating activities|||
|Cash received from sales of goods or|||
||1,294,892,259.80|726,566,936.82|
|rending of services|||
|Net increase of customer deposits|||
|and capital kept for brother company|||
|Net increase of loans from central bank|||

Sino Great Wall Co., Ltd. The First Quarterly Report 2018
||||
|-|-|-|
|Net increase of inter-bank loans from|||
|other financial bodies|||
|Cash received against original|||
|insurance contract|||
|Net cash received from reinsurance|||
|business|||
|Net increase of client deposit and|||
|investment|||
|Net increase of the financial assets that|||
|are measured at fair value and whose|||
|movement is counted to the current|||
|gain and loss|||
|Cash received as interest, processing|||
|fee and commission|||
|Net increase of inter-bank fund|||
|received|||
|Net increase of repurchasing business|||
|Tax returned|||
|Other cash received from business|||
||1,333,621,283.99|599,944,718.26|
|operation|||
|Sub-total of cash inflow|2,628,513,543.79|1,326,511,655.08|
|Cash paid for purchasing of|||
||747,305,288.81|760,452,839.85|
|merchandise and services|||
|Net increase of client trade and|||
|advance|||
|Net increase of savings n central bank|||
|and brother company|||
|Cash paid for original contract claim|||
|Cash paid for interest, processing fee|||
|and commission|||
|Cash paid for policy dividend|||
|Cash paid to staffs or paid for staffs|71,204,092.00|82,485,393.58|
|Taxes paid|21,837,224.69|38,025,760.71|
|Other cash paid for business activities|978,490,479.07|892,694,877.20|
|Sub-total of cash outflow from|||
||1,818,837,084.57|1,773,658,871.34|
|business activities|||
|Cash flow generated by business|||
||809,676,459.22|-447,147,216.26|
|operation, net|||

Sino Great Wall Co., Ltd. The First Quarterly Report 2018
||||
|-|-|-|
|II.Cash flow generated by investing|||
|Cash received from investment|||
|retrieving|||
|Cash received as investment gains|||
|Net cash retrieved from disposal of|||
|fixed assets, intangible assets, and|1,960.00||
|other long-term assets|||
|Net cash received from disposal of|||
||3,400,000.00||
|subsidiaries or other operational units|||
|Other investment-related cash received|||
|Sub-total of cash inflow due to|||
||3,401,960.00||
|investment activities|||
|Cash paid for construction of fixed|||
|assets, intangible assets and other|4,492,230.41|12,260,585.87|
|long-term assets|||
|Cash paid as investment|54,979,539.65||
|Net increase of loan against pledge|||
|Net cash received from subsidiaries|||
||8,510,000.00|85,075,100.00|
|and other operational units|||
|Other cash paid for investment|||
||17,225,232.24||
|activities|||
|Sub-total of cash outflow due to|||
||85,207,002.30|97,335,685.87|
|investment activities|||
|Net cash flow generated by investment|-81,805,042.30|-97,335,685.87|
|III.Cash flow generated by financing|||
|Cash received as investment|490,000.00||
|Incl: Cash received as investment from|||
||490,000.00||
|minor shareholders|||
|Cash received as loans|560,436,000.00|923,800,000.00|
|Cash received from bond placing|||
|Other financing –related ash received|||
|Sub-total of cash inflow from financing|||
||560,926,000.00|923,800,000.00|
|activities|||
|Cash to repay debts|1,088,885,108.28|706,432,013.86|
|Cash paid as dividend, profit, or|||
||97,007,027.90|34,700,377.59|
|interests|||
|Incl: Dividend and profit paid by|||

Sino Great Wall Co., Ltd. The First Quarterly Report 2018
||||
|-|-|-|
|subsidiaries to minor shareholders|||
|Other cash paid for financing activities|||
|Sub-total of cash outflow due to|||
||1,185,892,136.18|741,132,391.45|
|financing activities|||
|Net cash flow generated by financing|-624,966,136.18|182,667,608.55|
|IV. Influence of exchange rate|||
|alternation on cash and cash|314,848.72||
|equivalents|||
|V.Net increase of cash and cash|||
||103,220,129.46|-361,815,293.58|
|equivalents|||
|Add: balance of cash and cash|||
||647,222,590.48|934,607,672.48|
|equivalents at the beginning of term|||
|VI ..Balance of cash and cash|||
||750,442,719.94|572,792,378.90|
|equivalents at the end of term|||

6. Cash Flow Statement of the Parent Company
In RMB
||||
|-|-|-|
|Items|Amount in this period|Amount in last period|
|I.Cash flows from operating activities|||
|Cash received from sales of goods or|||
|||63,270.00|
|rending of services|||
|Tax returned|||
|Other cash received from business|||
||2,464,952,362.37|1,238,183,948.95|
|operation|||
|Sub-total of cash inflow|2,464,952,362.37|1,238,247,218.95|
|Cash paid for purchasing of|||
|merchandise and services|||
|Cash paid to staffs or paid for staffs|195,459.47|110,918.07|
|Taxes paid|221,143.85|113,130.96|
|Other cash paid for business activities|2,020,761,746.79|1,299,611,397.14|
|Sub-total of cash outflow from|||
||2,021,178,350.11|1,299,835,446.17|
|business activities|||
|Cash flow generated by business|||
||443,774,012.26|-61,588,227.22|
|operation, net|||
|II.Cash flow generated by investing|||
|Cash received from investment|||
|retrieving|||

Sino Great Wall Co., Ltd. The First Quarterly Report 2018
||||
|-|-|-|
|Cash received as investment gains|||
|Net cash retrieved from disposal of|||
|fixed assets, intangible assets, and|||
|other long-term assets|||
|Net cash received from disposal of|||
|subsidiaries or other operational units|||
|Other investment-related cash received|||
|Sub-total of cash inflow due to|||
|investment activities|||
|Cash paid for construction of fixed|||
|assets, intangible assets||65,440.00|
|and other long-term assets|||
|Cash paid as investment|||
|Net cash received from subsidiaries|||
|||90,075,100.00|
|and other operational units|||
|Other cash paid for investment|||
|activities|||
|Sub-total of cash outflow due to|||
|||90,140,540.00|
|investment activities|||
|Net cash flow generated by investment||-90,140,540.00|
|III.Cash flow generated by financing|||
|Cash received as investment|||
|Cash received as loans|210,000,000.00|569,800,000.00|
|Cash received from bond placing|||
|Other financing –related ash received|||
|Sub-total of cash inflow from|||
||210,000,000.00|569,800,000.00|
|financing activities|||
|Cash to repay debts|620,000,000.00|470,000,000.00|
|Cash paid as dividend, profit, or|||
||68,464,021.17|23,986,680.00|
|interests|||
|Other cash paid for financing activities|||
|Sub-total of cash outflow due to|||
||688,464,021.17|493,986,680.00|
|financing activities|||
|Net cash flow generated by financing|-478,464,021.17|75,813,320.00|
|IV. Influence of exchange rate|||
|alternation on cash and cash|||
|equivalents|||

Sino Great Wall Co., Ltd. The First Quarterly Report 2018
||||
|-|-|-|
|V.Net increase of cash and cash|||
||-34,690,008.91|-75,915,447.22|
|equivalents|||
|Add: balance of cash and cash|||
||99,547,899.86|168,691,344.34|
|equivalents at the beginning of term|||
|VI ..Balance of cash and cash|||
||64,857,890.95|92,775,897.12|
|equivalents at the end of term|||

II.Auditor’ report
Is the First Quarterly Report be audited?
□ Yes√No
The first Quarterly Report Not audited
Chairman of the board :Chen Lue
Sino Great Wall Co., Ltd.
April 27,2018