Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited Wuxi Little Swan Company Limited
Report for the First Quarter of 2015
Apr. 2015
Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited Section I. Important Reminders
The Board of Directors, the Supervisory Committee, directors, supervisors and senior management staff of Wuxi Little Swan Company Limited (hereinafter referred to as “the Company”) warrant that the information carried in this report is factual, accurate and complete, without any false record, misleading statement or material omission. And they shall be jointly and severally liable for that.
Mr. Fang Hongbo, company principal, Mr. Sun Yunan, chief of the accounting work, and Mr. Zhong Fangliu, chief of the accounting organ (chief of accounting), hereby confirm that the Financial Report enclosed in this report is factual, accurate and complete.
All directors have attended the board session for reviewing this report.
This report is prepared in both Chinese and English. Should there be any discrepancy between the two versions, the Chinese version shall prevail.
Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited Section II. Financial Highlights& Change of Shareholders
I. Main accounting data and financial indicators
Does the Company adjust retrospectively or restate accounting data of previous years due to change of the accounting policy or correction of any accounting error?
□ Yes√ No
|||||
|-|-|-|-|
||Jan.-Mar. 2015|Jan.-Mar. 2014|+/- (%)|
|Operating revenues (RMB Yuan)|3,293,972,545.08|2,576,160,088.43|27.86%|
|Net profit attributable to shareholders of|242,314,468.72|170,774,457.85||
||||41.89%|
|the Company (RMB Yuan)||||
|Net profit attributable to shareholders of||||
||214,814,273.09|151,478,381.44|41.81%|
|the Company after extraordinary gains and||||
|losses (RMB Yuan)||||
|Net cash flows from operating activities|394,282,134.54|271,964,312.53||
||||44.98%|
|(RMB Yuan)||||
|Basic EPS (RMB Yuan/share)|0.38|0.27|40.74%|
|Diluted EPS (RMB Yuan/share)|0.38|0.27|40.74%|
|Weighted average ROE (%)|5.33%|4.28%|1.05%|
||31 Mar. 2015|31 Dec. 2014|+/- (%)|
|Total assets (RMB Yuan)|11,622,314,983.41|11,376,793,928.71|2.16%|
|Net assets attributable to shareholders of|4,672,579,250.04|4,427,982,112.33||
||||5.52%|
|the Company (RMB Yuan)||||

Items and amounts of extraordinary gains and losses
√ Applicable□ Inapplicable
Unit: RMB Yuan
||||
|-|-|-|
|Item|Jan.-Mar. 2015|Explanation|
|Gain/loss on the disposal of non-current assets (including the offset part|||
||-1,412,540.72||
|of the asset impairment provisions)|||
|Government grants recognized in the current period, except for those|||
|acquired in the ordinary course of business or granted at certain quotas or|3,700,689.75||
|amounts according to the government’s unified standards|||
|Gain/loss on entrusting others with investments or asset management|30,726,398.10||
|Other gain and loss items that meet the definition of an extraordinary|||
||2,700,989.95||
|gain/loss|||
|Less: Income tax effects|5,357,330.56||

Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited
||||
|-|-|-|
|Minority interests effects (after tax)|2,858,010.89||
|Total|27,500,195.63|--|

Explain the reasons if the Company classifies an item as an extraordinary gain/loss according to the definition in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to thePublic—Extraordinary Gains and Losses, or classifies any extraordinary gain/loss item mentioned in the said explanatory announcement as a recurrent gain/loss item□ Applicable√ Inapplicable
No such cases in the reporting period.
II. Total number of shareholders at the period-end and shareholdings of top 10 shareholders 1. Total number of common shareholders at the period-end and shareholdings of top 10 common shareholders
Unit: share
||||||||
|-|-|-|-|-|-|-|
|Total number of common|||||||
||25,656||||||
|shareholders at the period-end|||||||
|Shareholdings of top 10 common shareholders|||||||
||||||Pledged or frozen||
|||||Number of|||
|||Shareholding|Number of||shares||
|Name of shareholder|Nature of shareholder|||restricted|||
|||percentage (%)|shares held||Status of|Number|
|||||shares held|||
||||||shares|of shares|
|MIDEA GROUP CO., LTD.|Domesticnon-state-ownedcorporation|37.78%|238,948,117||||
|TITONI INVESTMENTSDEVELOPMENT LTD.|Overseas corporation|14.89%|94,204,942||||
|GAOLING FUND,L.P.|Overseas corporation|4.23%|26,727,686||||
|FINANCE BUREAU OF WUXI|State-ownedcorporation|3.49%|22,057,657||||
|Agricultural Bank of China－Bocom Schroeder Growth StockSecurities Investment Fund|Domesticnon-state-ownedcorporation|1.56%|9,865,754||||
|NATIONAL SOCIAL SECURITYFUND PORTFOLIO 102|Domesticnon-state-ownedcorporation|1.34%|8,500,000||||
|China Ping’an Life Insurance Co.,Ltd.－Unit-linked insurance－Personal Insurance unit-linked insurance|Domesticnon-state-ownedcorporation|1.15%|7,282,757||||
|NATIONAL SOCIAL SECURITY|Domestic|0.98%|6,180,101||||

Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited
||||||||
|-|-|-|-|-|-|-|
|FUND PORTFOLIO 108|non-state-ownedcorporation||||||
|LMA SPC F/B/O MAP 147SEGREGATED PORTFOLIO|Overseas corporation|0.87%||5,508,587|||
|CHINA CONSTRUCTIONBANK—PENGHUA ADVANCEDSTOCK SECURITIESINVESTMENT FUND|Domesticnon-state-ownedcorporation|0.78%||4,903,148|||
|Shareholdings of top 10 non-restricted common shareholders|||||||
||||Number of||Variety of shares||
|Name of shareholder|||non-restricted||||
||||||Variety|Number|
||||common shares held||||
|MIDEA GROUP CO., LTD.|||238,948,117||RMB ordinary shares|238,948,117|
|TITONI INVESTMENTS DEVELOPMENT LTD.|||94,204,942||Domestically listed||
|||||||94,204,942|
||||||foreign shares||
|GAOLING FUND,L.P.|||26,727,686||Domestically listed||
|||||||26,727,686|
||||||foreign shares||
|FINANCE BUREAU OF WUXI|||22,057,657||RMB ordinary shares|22,057,657|
|Agricultural Bank of China－Bocom Schroeder Growth StockSecurities Investment Fund|||9,865,754||||
||||||RMB ordinary shares|9,865,754|
|NATIONAL SOCIAL SECURITY FUND PORTFOLIO 102|||8,500,000||RMB ordinary shares|8,500,000|
|China Ping’an Life Insurance Co., Ltd.－Unit-linked insurance －Personal Insurance unit-linked insurance|||7,282,757||||
||||||RMB ordinary shares|7,282,757|
|NATIONAL SOCIAL SECURITY FUND PORTFOLIO 108|||6,180,101||RMB ordinary shares|6,180,101|
|LMA SPC F/B/O MAP 147 SEGREGATED PORTFOLIO|||5,508,587||Domestically listed||
|||||||5,508,587|
||||||foreign shares||
|CHINA CONSTRUCTION BANK—PENGHUAADVANCED STOCK SECURITIES INVESTMENT FUND|||4,903,148||||
||||||RMB ordinary shares|4,903,148|
|Explanation on associated relationship or persons acting in|||GD MIDEA HOLDING CO., LTD. and TITONI INVESTMENTS||||
|concert among the above-mentioned shareholders|||DEVELOPMENT LTD. are parties acting in concert.||||

Did any of the top 10 common shareholders or the top 10 non-restricted common shareholders of the Company conduct any promissory repo during the reporting period?
□ Yea√ No
No such cases in the reporting period.
2. Total number of preferred shareholders at the period-end and shareholdings of top 10 preferred shareholders
□ Applicable√ Inapplicable
Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited Section III. Significant Events
I. Significant changes in the major accounting statement items and financial indicators for the reporting period, as well as the reasons for these changes
√ Applicable□ Inapplicable
|||||||
|-|-|-|-|-|-|
||31 Mar.|31 Dec.||||
||2015/Jan.-Mar.|2014/Jan.-Mar.|+/- (RMB Ten|||
|Statement item||||+/-%|Notes|
||2015 (RMB Ten|2014 (RMB Ten|thousand)|||
||thousand)|thousand)||||
|Other receivables|2,385.01|3,461.20|-1,076.19|-31%|The export tax rebates for last year werereceived.|
|Other current assets|330,684.63|194,797.22|135,887.41|70%|The investments in bank wealthmanagement products increased.|
|Long-term deferredexpenses|626.48|185.20|441.28|238%|More expenses on molds|
|Accounts received inadvance|36,402.37|85,159.28|-48,756.92|-57%|Due to the sale cycle|
|Taxes and farespayable|38,919.62|27,364.89|11,554.73|42%|The sales and profit increased.|
|Administrativeexpenses|13,635.67|9,986.72|3,648.95|37%|Expenses on salaries and R&D increased.|
|Financial expenses|-1,191.45|-270.63|-920.82|-340%|The deposit interest income increased.|
|Gain on fair valuechanges|-2.83|-1,192.58|1,189.75|100%|The gain on the fair value changes inforward exchange contracts increased.|
|Investment gain|3,096.41|2,298.71|797.70|35%|The investment in bank wealthmanagement products increased, resultingin more gain.|
|Non-operatingexpense|339.14|140.86|198.28|141%|The loss on disposal of wasted fixed assetsincreased.|
|Total profit|32,645.19|21,929.55|10,715.64|49%|The sales increased.|
|Income tax expenses|4,928.85|3,160.22|1,768.63|56%|Total profit increased.|
|Net profit|27,716.35|18,769.33|8,947.01|48%|The sales increased.|
|Minorityshareholders’income|3,484.90|1,691.89|1,793.01|106%|Subsidiary Hefei Midea Washing MachineCo., Ltd. recorded increased net profit.|

Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited
|||||||
|-|-|-|-|-|-|
|Othercomprehensiveincomes|11.52|23.83|-12.31|-52%|Due to exchange rate fluctuations, theforeign-currency statement translationdifference of the Singapore subsidiarychanged.|
|Net cash flows fromoperating activities|39,428.21|27,196.43|12,231.78|45%|The business scale expanded and the cashreceived from sale of goods and renderingof services increased accordingly.|
|Net cash flows frominvesting activities|-71,505.40|-19,123.48|-52,381.92|-274%|The investments in bank wealthmanagement products increased, resultingin an increase in the cash paid forinvestment.|

II. Progress of significant events and analysis& explanations on their influence and solutions□ Applicable√ Inapplicable
III. Commitments made by the Company or any shareholder with a shareholding over5% in the reporting period or such commitments made in previous period and carried down into the reporting period
√ Applicable□ Inapplicable
|||||||
|-|-|-|-|-|-|
|||||Period||
||||Time of|||
||Commitmen|||of|Fulfill|
|Commitment||Contents|making|||
||t maker|||commi|ment|
||||commitment|||
|||||tment||
|||Where the controlling shareholder GD Midea Holding Co., Ltd. (Midea||||
|||Holding) plans to sell the Company’s shares released from trading|||In the|
|||moratorium held by it via the bid trading system of the Shenzhen Stock|||process|
|Commitment|Controlling||28 Feb.|Long-t||
|||Exchange, and Midea Holding decreases over 5% shares within six|||of|
|on share reform|s hareholder||2008|erm||
|||months since the first reduction of holdings, Midea Holding will disclose|||implem|
|||the suggestive announcement on share selling through the Company two|||entation|
|||trading days before its first reduction of holdings.||||
|||1. As for the commitment of avoiding horizontal competition, Midea||||
|||Holding (the controlling shareholder) and Mr. He Xiangjian (the actual||||
|||controller) has promised that, and for the period after the said transaction||||
|Commitment in|||||In the|
||Controlling|when the Company’s controlling shareholder and actual controller remain||||
|the acquisition|||||process|
||shareholder|unchanged, the actual controller Mr. He Xiangjian and his direct|1 Dec. 2010,|Long-t||
|report or the|||||of|
||and actual|relatives, Midea Group and its controlling other enterprises recently no|6 Jun. 2014|erm||
|report on equity|||||implem|
||controller|and will neither engage in the same or similar production and operating||||
|changes|||||entation|
|||activities as the current main business of Little and its controlling||||
|||enterprises, nor control other economic entities, institutions and economic||||
|||organizations to engage in or participate at the same competitive business||||

Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited
||||||
|-|-|-|-|-|
||with the current main business of Little Swan and the enterprises||||
||controlled by it. If Little Swan and its controlling enterprises developed||||
||their operation business scope on the basis of the current business, the||||
||actual controller Mr. He Xiangjian and his direct relatives, Midea Group||||
||and its controlling other enterprises if had ceased production on those||||
||business, the Company will solve the horizontal competition caused by||||
||them during reasonable period, and if at the moment had not execute any||||
||production and operation, they will not engage in those new business||||
||competed with Little Swan or its controlling enterprises. If there was any||||
||situation violated the above commitments, the profits gained from the||||
||relevant business should be enjoyed by Little Swan.||||
||2. As for the commitment for regulating related-party transactions, GD||||
||Midea Holding (the controlling shareholder) and Mr. He Xiangjian (the||||
||actual controller) have promised that when there are inevitable||||
||related-party transactions or such transaction incurred with rational||||
||reasons of the period after the said transaction when the Company’s||||
||controlling shareholder and actual controller remain unchanged, the||||
||actual controller Mr. He Xiangjian and his direct relatives, Midea Group||||
||and its controlling other enterprises will standard and try their best to||||
||reduce the related transactions between Little Swan and its controlled||||
||enterprises. If there was unavoidable related transactions with Little Swan||||
||and its controlling enterprises, the Company will sign the standard related||||
||transaction agreement with Little Swan according to law and execute the||||
||approval procedure according to relevant regulations for ensuring the|||In the|
|Controlling|||||
||fairness of the price of the related transactions; guarantee that to execute|||process|
|shareholder||1 Dec. 2010,|Long-t||
||the information disclosure obligations of the related transactions|||of|
|and actual||6 Jun. 2014|erm||
||according to relevant regulations; guarantee not to make use of the|||implem|
|controller|||||
||related transactions illegally transfer the capital and profits of Little Swan|||entation|
||as well as not to make use of the related transactions to do harm to the||||
||interests of Little Swan and the shareholders; will not require Little Swan||||
||to provide more favorable conditions than the conditions that provides for||||
||the independent third parties among any market fair deal; when those||||
||other enterprise relevant events involved with the actual controller Mr.||||
||He Xiangjian and his direct relatives, Midea Group and its controlling||||
||enterprises taking the voting, the Company should execute the voting||||
||avoiding obligations. If there did any situation that violated the above||||
||commitments and guarantees own to Midea Group and Mr. He Xiangjian||||
||that harmed the equities of Little or other shareholders, Midea Group and||||
||Mr. He Xiangjian should take the corresponding compensation||||
||responsibility according to laws.||||
||3. As for the commitment on independence, for further ensure the|||In the|
|Controlling|||||
||independent operation of Little Swan, Midea Group and the actual|1 Dec. 2010,|Long-t|process|
|shareholder|||||
||controller Mr. He Xiangjian and its controlling other enterprises will|6 Jun. 2014|erm|of|
|and actual|||||
||maintain mutual independent in the aspects such as personnel, finance,|||implem|

Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited
||||||
|-|-|-|-|-|
|controller|assets, business and institutions according to the relevant laws and|||entation|
||regulations as well as the normative documents.||||
||4. As for the commitment on related-party deposits and borrowings, up to||||
||8 Apr. 2010, the Financial Settlement Center of GD Midea Holding had|||In the|
||settled all internal deposits and borrowings with Hefei Royalstar Washing|||process|
|Controlling|||Long-t||
||Equipment Manufacturing Co., Ltd.; and GD Midea Holding has|1 Dec. 2010||of|
|shareholder|||erm||
||promised that there will be no more deposits, borrowings or other funds|||implem|
||flows incurred between the Financial Settlement Center and Hefei|||entation|
||Royalstar Washing Equipment Manufacturing Co., Ltd..||||
||5. The commitment by GD Midea Holding on housing properties with no||||
||ownership certificates of the target company for sale is detailed as||||
||follows. Two pieces of the buildings of Royalstar Washing Equipment||||
||assessed and sold to the Company are of no ownership certificates—the|||In the|
||warehouse for half-finished products (176 square meters) and the|||process|
|Controlling|||Long-t||
||workshop for injection molding (834 square meters), both located in the|1 Dec. 2010||of|
|shareholder|||erm||
||old factory of Royalstar Washing Equipment, Hewa Road, Hefei. GD|||implem|
||Midea Holding has promised that if loss occurs due to the said two|||entation|
||buildings without ownership certificates in the asset disposal process in||||
||the future, it will assume the loss thus caused and make compensation to||||
||the Company.||||
||6. The commitment by GD Midea Holding on trademarks is detailed as||(2)||
||follows. (1) Concerning the “Midea” trademark: Upon approval and||Conce||
||implementation of the equity transfer transaction, GD Midea Holding has||rning||
||promised that it will make sure that Royalstar Washing Equipment uses||the||
||the “Midea” trademark in a proper manner. Royalstar Washing||“Royal||
||Equipment will be allowed to use the “Midea” trademark with a||star”||
||trademark use fee not more than that paid by Midea Group (the||tradem||
||controlling shareholder of GD Midea Holding) and its subsidiaries||ark||
||(currently 3‰ of the annual sales income generated by products using the||was||
||“Midea” trademark), and upon negotiation and signing of the “Agreement||expire|In the|
||for Trademark Use”. The related-party transactions incurred due to the||d on|process|
|Controlling|||||
||said use of the “Midea” trademark will be submitted to the|1 Dec. 2010|31|of|
|shareholder|||||
||decision-making organ of the Company for approval according to the||Mar.|implem|
||stipulated procedure. As such, interests of the Company and its minority||2013|entation|
||shareholders will be safeguarded. (2) Concerning the “Royalstar”||and||
||trademark: GD Midea Holding has signed the “Contract for Trademark||will||
||Use” with Royalstar Group and obtained the ordinary use rights of the||not be||
||“Royalstar” (or “荣事达”) trademark. As the transferor in the transfer||renew||
||transaction of equity interests of Royalstar Washing Equipment, GD||ed,||
||Midea Holding has promised that within the scope as agreed in the||others||
||“Contract for Trademark Use”, if any dispute arises between Royalstar||are in||
||Washing Equipment and Royalstar Group over the former’s execution of||the||
||the “Contract for Trademark Use”, Little Swan will not be involved. If||proces||

Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited
|||||||
|-|-|-|-|-|-|
|||Royalstar Washing Equipment and Little Swan have to assume any||s of||
|||responsibility or loss due to the aforesaid dispute, GD Midea Holding is||long||
|||willing to take on the responsibility instead and make compensations to||term||
|||Royalstar Washing Equipment and Little Swan at full amount.||imple||
|||||mentat||
|||||ion||
|||7. The commitment by GD Midea Holding on social security payment||||
|||and tax risks is detailed as follows. GD Midea Holding has promised that||||
|||upon the completion of the said equity transfer deal, if Royalstar Washing||||
|||Equipment is obliged to take on any responsibility or pay relevant fares||||
|||as required by relevant government authorities due to its social security||||
|||payment before the said deal, GD Midea Holding is willing to pay||||
|||relevant fares for Royalstar Washing Equipment to relevant government|||In the|
|||authorities in a timely manner and assume any other liability. If any loss|||process|
||Controlling|||Long-t||
|||thus occurs to Royalstar Washing Equipment or Little Swan, GD Midea|1 Dec. 2010||of|
||shareholder|||erm||
|||Holding is willing to assume relevant responsibilities for compensation.|||implem|
|||Upon the completion of the said equity transfer deal, if income tax|||entation|
|||evasion or any other tax risk is found in Royalstar Washing Equipment,||||
|||GD Midea Holding is willing to assume relevant legal responsibilities||||
|||and risks and pay relevant taxes in a timely manner to relevant||||
|||government authorities; and if any loss thus occurs to Little Swan, GD||||
|||Midea Holding will assume the corresponding responsibility for||||
|||compensation.||||
|||8. The commitment by Midea Group on capital safety at the finance||||
|||companies of the Company: during the validity period of the Financial|||In the|
|||||3||
|||Services Agreement, when Midea Group occurred emergency situation of|||process|
||Controlling||18 Mar.|years||
|||payment difficulty at finance companies, it should adopt the effective|||of|
||shareholder||2015|validit||
|||measures such as increase the capital fund of the finance companies|||implem|
|||||y||
|||according to the actual needs of solving the payment difficulty to ensure|||entation|
|||the capital safety of the Company.||||
|Commitments||||||
|made upon the||||||
|assets||||||
|reorganization||||||
|Commitments||||||
|made upon IPO||||||
|or refinancing||||||
|Other||||||
|commitments||||||
|made to||||||
|minority||||||
|shareholders||||||

Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited
|||
|-|-|
|Executed||
||Yes|
|timely or not?||
|Specific||
|reasons fail to||
|complete||
||Inapplicable|
|execution and||
|further plans (if||
|any)||

IV. Predict the operating results of Jan.-Jun. 2015
Warning of possible loss or considerable YoY change of the accumulated net profit made during the period-begin to the end of the next reporting period according to prediction, as well as explanations on the reasons:
□ Applicable√ Inapplicable
V. Securities investments
□ Applicable√ Inapplicable
No such cases in the reporting period.
VI. Shareholdings in other listed companies
□ Applicable√ Inapplicable
No such cases in the reporting period.
VII. Investments in derivatives
√ Applicable□ Inapplicable
Shareholdings in other listed companies
VII. Derivative investments
√ Applicable□ Inapplicable
Unit: RMB Ten Thousand Yuan
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|||||||||||Proportion||
|||||||||||of the||
|||Relate|||||||||Actual|
|||||||||Impairm||closing||
||||||||||Closing|||
|||d-part|Type of|Initial|||Opening|||investment|gain/lo|
||Relati||||Beginning|||ent||||
|Operator||y||||Ending date|||investme|amount in|ss in|
||||derivative|investment|||investment|provisio||||
||on|transac|||date||||nt|the|reporti|
||||investment|amount|||amount|n (if||||
|||tion or|||||||amount|Company’|ng|
|||||||||any)||||
|||not||||||||s closing|period|
|||||||||||net assets||
|||||||||||(%)||

Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||||Forward||||||||
|Bank|No|No||5,770|7 Jan. 2015|19 May 2015|5,770|1,699|0.31%|31.3|
||||exchange||||||||
||||contract||||||||
|Total||||5,770|--|--|5,770|1,699|0.31%|31.3|
|Capital source for derivative|||||||||||
|||||All self-owned funds|||||||
|investment|||||||||||
|Lawsuit situations (if applicable)||||Inapplicable|||||||
|Disclosure date of the board|||||||||||
|||||20 Mar. 2015|||||||
|announcement approving the wealth|||||||||||
|management entrustment (if any)|||||||||||
|Disclosure date of the general|||||||||||
|meeting announcement approving||||22 Apr. 2015|||||||
|the wealth management entrustment|||||||||||
|(if any)|||||||||||
|||||The Company has formulated the Management Methods for Exchange Funds upon review to|||||||
|||||thoroughly assess and control derivative investment risks, which are detailed as follows:|||||||
|||||1. Market risk|||||||
|||||Fluctuations of exchange rates may incur a great market risk in the foreign exchange funds|||||||
|||||business. Meanwhile, if the Company fails to input foreign exchanges on time for contract|||||||
|||||execution in the foreign exchange funds business, contract breach risk may incur.|||||||
|||||Counter-measures: The Company will not carry out speculative trading in its foreign exchange|||||||
|||||funds business. And the Company will stick to the principle of being prudent in operations. A|||||||
|||||from-the-bottom-up management mechanism is adopted. When subsidiaries or product|||||||
|||||enterprises file applications for funds business, they will give a risk analysis on conditions or|||||||
|Analysis on risks and control|||||||||||
|||||circumstances that might affect gains and losses, estimate the maximum gain and loss, and|||||||
|measures of derivative products||||state the ratio or total amount of guarantee deposits they can bear. And the Company will,|||||||
|held in the reporting period||||according to their applications, update operations in time in its funds business and make funds|||||||
|(including but not limited to market||||arrangements before the maturity date.|||||||
|risk, liquidity risk, credit risk,|||||||||||
|||||2. Operation risk|||||||
|operation risk, law risk, etc.)|||||||||||
|||||The Company may suffer loss in its hedging business and foreign exchange funds business|||||||
|||||due to faulty internal procedures, staff, systems and external events.|||||||
|||||Counter-measures: Responsibility division and approval procedures for the hedging and|||||||
|||||foreign exchange business have been specified in relevant management rules. And a sound|||||||
|||||supervision mechanism has been established. And operation risk can be effectively reduced by|||||||
|||||enhancing risk control over procedures for operation, decision-making and trading.|||||||
|||||3. Risk concerning laws and regulations|||||||
|||||The Company carries out its foreign exchange business in compliance with applicable laws|||||||
|||||and regulations, with rights and duties between the Company and agencies being stated|||||||

Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited
|||
|-|-|
||clearly.|
||Counter-measures: The Company urges responsible departments to understand better about|
||relevant laws, regulations and market rules; be strict in contract re-checks; make clear relevant|
||rights and duties; and enhance compliance checks to make sure that the Company operates|
||derivative investments in compliance with applicable laws, regulations and the Company’s|
||internal management rules.|
|Changes of market prices or fair||
|values in the reporting period of the||
|invested derivatives. And the||
||The Company adopts forward foreign exchange quotations declared by the People’s Bank of|
|analysis on the fair value of the||
|derivatives should include the|China in its analysis on fair values of derivative products.|
|specific use methods and the||
|relevant assumptions and||
|parameters.||
|Whether significant changes||
|occurred to the Company’s||
|accounting policy and specific|No significant changes.|
|accounting principles of derivatives||
|in the reporting period compared to||
|the previous reporting period||
||Independent directors of the Company believe that: The Company has formulated derivative|
||investment rules such as the Management Methods for Exchange Funds to help it effectively|
|Specific opinion from independent||
||control risks involved; the Company’s derivative investments in the reporting period mainly|
|directors on the Company’s|targeted its exports. It signed forward exchange contracts with domestic financial institutions,|
|derivatives investment and risk|which helped it to lock up the exchange rate and avoid the risk of exchange rate fluctuations.|
|control|The Company conducted no speculative operations, so there was no credit risk. And|
||transaction periods were determined according to expectations and payment receiving and|
||making, with no influence on the Company’s fluidity.|

VIII. Researches, visits and interviews received in the reporting period
√ Applicable□ Inapplicable
|||||||
|-|-|-|-|-|-|
||||||Main discussion and|
||Place of|Way of||||
|Time of reception|||Visitor type|Visitor|materials provided by|
||reception|reception||||
||||||the Company|
|||||Changjiang Securities, Huatai Assets,||
||Conference|||Fullgoal Fund, China AMC, Sinolink||
||||||Overall operation of|
|22 Jan. 2015|Room of the|Field research|Institution|Securities, Zhong Ou AMC, Essences||
||||||the Company|
||Company|||Securities, BOCOM Securities, Ping An||
|||||Asset||

Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited Section IV. Financial Statements
I. Financial statements
1. Consolidated balance sheet
Prepared by Wuxi Little Swan Company Limited
Unit: RMB Yuan
||||
|-|-|-|
|Item|Closing balance|Opening balance|
|Current Assets:|||
|Monetary funds|2,163,913,113.11|3,059,914,956.21|
|Settlement reserves|||
|Intra-group lendings|||
|Financial assets measured at fair value of which|220,578.24|248,907.75|
|changes are recorded in current profits and lossesDerivative financial assets|||
|Notes receivable|2,840,015,166.92|3,147,153,535.61|
|Accounts receivable|1,068,886,722.15|856,343,229.70|
|Accounts paid in advance|175,541,071.09|142,977,522.28|
|Premiums receivable|||
|Reinsurance premiums receivable|||
|Receivable reinsurance contract reserves|||
|Interest receivable|||
|Dividend receivable|||
|Other accounts receivable|23,850,112.20|34,611,969.22|
|Financial assets purchased under agreements to|||
|resellInventories|460,044,879.93|605,616,993.25|
|Assets held for sale|||
|Non-current assets due within 1 year|||
|Other current assets|3,306,846,269.58|1,947,972,214.72|
|Total current assets|10,039,317,913.22|9,794,839,328.74|
|Non-current assets:|||
|Loans by mandate and advances granted|||
|Available-for-sale financial assets|200,000.00|200,000.00|
|Held-to-maturity investments|||
|Long-term accounts receivable|||

Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited
||||
|-|-|-|
|Long-term equity investment|2,774,768.17|2,850,040.45|
|Investing real estate|72,253,482.13|73,229,177.52|
|Fixed assets|1,038,145,055.66|1,065,820,898.65|
|Construction in progress|||
|Engineering materials|||
|Disposal of fixed assets|||
|Production biological assets|||
|Oil-gas assets|||
|Intangible assets|201,450,839.52|202,760,577.70|
|R&D expense|||
|Goodwill|||
|Long-term deferred expenses|6,264,755.50|1,851,978.15|
|Deferred income tax assets|261,908,169.21|235,241,927.50|
|Other non-current assets|||
|Total of non-current assets|1,582,997,070.19|1,581,954,599.97|
|Total assets|11,622,314,983.41|11,376,793,928.71|
|Current liabilities:|||
|Short-term borrowings|116,148,521.47||
|Borrowings from Central Bank|||
|Customer bank deposits and due to banks and other|||
|financial institutionsIntra-group borrowings|||
|Financial liabilities measured at fair value of which|||
|changes are recorded in current profits and lossesDerivative financial liabilities|||
|Notes payable|1,339,477,601.67|1,173,851,127.31|
|Accounts payable|3,718,090,880.34|3,614,077,813.37|
|Accounts received in advance|364,023,659.51|851,592,826.03|
|Financial assets sold for repurchase|||
|Handling charges and commissions payable|||
|Payroll payable|202,382,870.86|250,377,809.92|
|Tax payable|389,196,199.65|273,648,854.64|
|Interest payable|||
|Dividend payable|4,088,128.36|4,088,128.36|
|Other accounts payable|48,798,275.84|48,540,416.84|
|Reinsurance premiums payable|||
|Insurance contract reserves|||
|Payables for acting trading of securities|||

Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited
||||
|-|-|-|
|Payables for acting underwriting of securities|||
|Liabilities held for sale|||
|Non-current liabilities due within 1 year|||
|Other current liabilities|||
|Total current liabilities|6,182,206,137.70|6,216,176,976.47|
|Non-current liabilities:|||
|Long-term borrowings|||
|Bonds payable|||
|Of which: preferred shares|||
|Perpetual bonds|||
|Long-term payables|||
|Long-term payroll payables|||
|Specific payables|2,073,957.30|2,073,957.30|
|Estimated liabilities|9,956,354.38|9,960,830.74|
|Deferred income|3,735,433.32|3,848,733.33|
|Deferred income tax liabilities|33,086.73|37,336.16|
|Other non-current liabilities|||
|Total non-current liabilities|15,798,831.73|15,920,857.53|
|Total liabilities|6,198,004,969.43|6,232,097,834.00|
|Owners’ equity:|||
|Share capital|632,487,764.00|632,487,764.00|
|Other equity instruments|||
|Of which: preferred shares|||
|Perpetual bonds|||
|Capital reserves|1,142,123,819.28|1,139,956,336.03|
|Less: Treasury stock|||
|Other comprehensive income|-3,334,503.83|-3,449,689.57|
|Specific reserves|||
|Surplus reserves|332,594,722.29|332,594,722.29|
|Provisions for general risks|||
|Retained profits|2,568,707,448.30|2,326,392,979.58|
|Total equity attributable to owners of the Company|4,672,579,250.04|4,427,982,112.33|
|Minority interests|751,730,763.94|716,713,982.38|
|Total owners’ equity|5,424,310,013.98|5,144,696,094.71|
|Total liabilities and owners’ equity|11,622,314,983.41|11,376,793,928.71|

Legal representative: Fang Hongbo Chief of the accounting work: Sun Yunan Chief of the accounting organ: Zhong Fangliu
Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited 2. Balance sheet of the Company
Unit: RMB Yuan
||||
|-|-|-|
|Item|Closing balance|Opening balance|
|Current Assets:|||
|Monetary funds|1,343,465,555.67|1,911,559,698.48|
|Financial assets measured at fair value of which|127,385.07|169,471.35|
|c h aDnegreivs aatriev er efcinoardnecdia li na scsuertrse n t profits and losses|||
|Notes receivable|2,046,345,765.51|1,995,701,371.99|
|Accounts receivable|728,323,276.24|599,080,895.73|
|Accounts paid in advance|72,443,332.64|82,118,815.39|
|Interest receivable|||
|Dividend receivable|||
|Other accounts receivable|17,738,475.97|16,162,292.29|
|Inventories|292,461,587.51|391,600,972.50|
|Assets held for sale|||
|Non-current assets due within 1 year|||
|Other current assets|1,823,850,586.05|1,024,148,072.06|
|Total current assets|6,324,755,964.66|6,020,541,589.79|
|Non-current assets:|||
|Available-for-sale financial assets|150,000.00|150,000.00|
|Held-to-maturity investments|||
|Long-term accounts receivable|||
|Long-term equity investment|1,342,469,259.74|1,342,544,532.02|
|Investing real estate|8,837,994.22|9,112,459.48|
|Fixed assets|519,527,738.88|536,196,976.55|
|Construction in progress|||
|Engineering materials|||
|Disposal of fixed assets|||
|Production biological assets|||
|Oil-gas assets|||
|Intangible assets|97,299,193.17|97,971,768.25|
|R&D expense|||
|Goodwill|||
|Long-term deferred expenses|5,778,644.38|1,525,311.48|
|Deferred income tax assets|170,926,135.27|156,000,386.72|
|Other non-current assets|||
|Total of non-current assets|2,144,988,965.66|2,143,501,434.50|

Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited
||||
|-|-|-|
|Total assets|8,469,744,930.32|8,164,043,024.29|
|Current liabilities:|||
|Short-term borrowings|16,404,201.00||
|Financial liabilities measured at fair value of which|||
|c h aDnegreivs aatriev er efcinoardnecdia li nl icaubrilrietniet sp r o fits and losses|||
|Notes payable|787,061,907.45|584,317,575.73|
|Accounts payable|2,725,912,809.14|2,548,193,911.40|
|Accounts received in advance|218,847,645.15|536,032,679.79|
|Payroll payable|130,984,859.84|156,971,021.63|
|Tax payable|279,741,748.76|178,868,538.14|
|Interest payable|||
|Dividend payable|4,088,128.36|4,088,128.36|
|Other accounts payable|10,978,006.17|15,256,765.11|
|Liabilities held for sale|||
|Non-current liabilities due within 1 year|||
|Other current liabilities|||
|Total current liabilities|4,174,019,305.87|4,023,728,620.16|
|Non-current liabilities:|||
|Long-term borrowings|||
|Bonds payable|||
|Of which: preferred shares|||
|Perpetual bonds|||
|Long-term payables|||
|Long-term payroll payables|||
|Specific payables|||
|Estimated liabilities|||
|Deferred income|||
|Deferred income tax liabilities|19,107.76|25,420.70|
|Other non-current liabilities|||
|Total non-current liabilities|19,107.76|25,420.70|
|Total liabilities|4,174,038,413.63|4,023,754,040.86|
|Owners’ equity:|||
|Share capital|632,487,764.00|632,487,764.00|
|Other equity instruments|||
|Of which: preferred shares|||
|Perpetual bonds|||
|Capital reserves|1,301,894,334.32|1,300,124,962.20|

Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited
||||
|-|-|-|
|Less: Treasury stock|||
|Other comprehensive income|||
|Specific reserves|||
|Surplus reserves|319,944,578.39|319,944,578.39|
|Retained profits|2,041,379,839.98|1,887,731,678.84|
|Total owners’ equity|4,295,706,516.69|4,140,288,983.43|
|Total liabilities and owners’ equity|8,469,744,930.32|8,164,043,024.29|

 3. Consolidated income statement
Unit: RMB Yuan
||||
|-|-|-|
|Item|Jan.-Mar. 2015|Jan.-Mar. 2014|
|I. Total operating revenues|3,293,972,545.08|2,576,160,088.43|
|Including: Sales income|3,293,972,545.08|2,576,160,088.43|
|Interest income|||
|Premium income|||
|Handling charge and commission income|||
|II. Total operating costs|3,002,591,301.31|2,373,449,895.21|
|Including: Cost of sales|2,379,120,341.82|1,863,580,470.12|
|Interest expenses|||
|Handling charge and commission expenses|||
|Surrenders|||
|Net claims paid|||
|Net amount withdrawn for the insurance|||
|contract reserve|||
|Expenditure on policy dividends|||
|Reinsurance premium|||
|Taxes and associate charges|17,128,541.02|18,158,736.21|
|Selling and distribution expenses|472,357,387.28|384,822,055.79|
|Administrative expenses|136,356,668.54|99,867,200.75|
|Financial expenses|-11,914,487.39|-2,706,279.81|
|Asset impairment loss|9,542,850.04|9,727,712.15|
|Add: Gain/(loss) from change in fair value (“-” means|||
||-28,329.51|-11,925,800.00|
|loss)|||
|Gain/(loss) from investment (“-” means loss)|30,964,125.82|22,987,140.99|
|Including: share of profits in associates and joint|||

Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited
||||
|-|-|-|
|ventures|||
|Foreign exchange gains (“-” means loss)|||
|III. Business profit (“-” means loss)|322,317,040.08|213,771,534.21|
|Add: non-operating income|7,526,310.70|6,932,588.41|
|Including: Gains on disposal of non-current|||
|assets|||
|Less: non-operating expense|3,391,414.54|1,408,605.94|
|Including: Losses on disposal of non-current|||
|assets|||
|IV. Total profit (“-” means loss)|326,451,936.24|219,295,516.68|
|Less: Income tax expense|49,288,455.12|31,602,176.95|
|V. Net profit (“-” means loss)|277,163,481.12|187,693,339.73|
|Net profit attributable to owners of the Company|242,314,468.72|170,774,457.85|
|Minority shareholders’ income|34,849,012.40|16,918,881.88|
|VI. After-tax net amount of other comprehensive|||
||115,185.74|238,278.48|
|incomes|||
|After-tax net amount of other comprehensive|||
||115,185.74|238,278.48|
|incomes attributable to owners of the Company|||
|(I) Other comprehensive incomes that will not|||
|be reclassified into gains and losses|||
|1. Changes in net liabilities or assets with a|||
|defined benefit plan upon re-measurement|||
|2. Enjoyable shares in other comprehensive|||
|incomes in investees that cannot be reclassified into|||
|gains and losses under the equity method|||
|(II) Other comprehensive incomes that will be|||
||115,185.74|238,278.48|
|reclassified into gains and losses|||
|1. Enjoyable shares in other comprehensive|||
|incomes in investees that will be reclassified into|||
|gains and losses under the equity method|||
|2. Gains and losses on fair value changes of|||
|available-for-sale financial assets|||
|3. Gains and losses on reclassifying|||
|held-to-maturity investments into available-for-sale|||
|financial assets|||
|4. Effective hedging gains and losses on|||
|cash flows|||

Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited
||||
|-|-|-|
|5. Foreign-currency financial statement|||
||115,185.74|238,278.48|
|translation difference|||
|6. Other|||
|After-tax net amount of other comprehensive|||
|incomes attributable to minority shareholders|||
|VII. Total comprehensive incomes|277,278,666.86|187,931,618.21|
|Attributable to owners of the Company|242,429,654.46|171,012,736.33|
|Attributable to minority shareholders|34,849,012.40|16,918,881.88|
|VIII. Earnings per share|||
|(I) Basic earnings per share|0.38|0.27|
|(II) Diluted earnings per share|0.38|0.27|

 Legal representative: Fang Hongbo Chief of the accounting work: Sun Yunan Chief of the accounting organ: Zhong Fangliu 4. Income statement of the Company
Unit: RMB Yuan
||||
|-|-|-|
|Item|Jan.-Mar. 2015|Jan.-Mar. 2014|
|I. Total sales|2,470,525,958.78|1,894,175,621.32|
|Less: cost of sales|1,847,860,647.42|1,390,057,329.94|
|Business taxes and surcharges|11,711,081.29|13,547,483.63|
|Distribution expenses|354,864,794.58|292,227,018.27|
|Administrative expenses|101,692,072.59|77,795,813.89|
|Financial costs|-5,537,625.27|808,182.35|
|Impairment loss|2,865,647.81|6,171,520.43|
|Add: gain/(loss) from change in fair value (“-”|||
||-42,086.28|-6,848,610.00|
|means loss)|||
|Gain/(loss) from investment (“-” means loss)|23,137,782.86|1,511,386.24|
|Including: income form investment on associates|||
|and joint ventures|||
|II. Business profit (“-” means loss)|180,165,036.94|108,231,049.06|
|Add: non-operating income|3,253,117.90|3,999,006.92|
|Including: Gains on disposal of non-current|||
|assets|||
|Less: non-operating expense|2,655,612.33|2,816,063.68|
|Including: Losses on disposal of non-current|||
|assets|||

Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited
||||
|-|-|-|
|III. Total profit (“-” means loss)|180,762,542.51|109,413,992.30|
|Less: Income tax expense|27,114,381.38|16,412,098.85|
|IV. Net profit (“-” means loss)|153,648,161.13|93,001,893.45|
|V. After-tax net amount of other comprehensive|||
|||-35,985.60|
|incomes|||
|(I) Other comprehensive incomes that will not be|||
|reclassified into gains and losses|||
|1. Changes in net liabilities or assets with a|||
|defined benefit plan upon re-measurement|||
|2. Enjoyable shares in other comprehensive|||
|incomes in investees that cannot be reclassified into|||
|gains and losses under the equity method|||
|(II) Other comprehensive incomes that will be|||
|||-35,985.60|
|reclassified into gains and losses|||
|1. Enjoyable shares in other comprehensive|||
|incomes in investees that will be reclassified into|||
|gains and losses under the equity method|||
|2. Gains and losses on fair value changes of|||
|||-35,985.60|
|available-for-sale financial assets|||
|3. Gains and losses on reclassifying|||
|held-to-maturity investments into available-for-sale|||
|financial assets|||
|4. Effective hedging gains and losses on cash|||
|flows|||
|5. Foreign-currency financial statement|||
|translation difference|||
|6. Other|||
|VI. Total comprehensive incomes|153,648,161.13|92,965,907.85|
|VII. Earnings per share|||
|(I) Basic earnings per share|0.24|0.15|
|(II) Diluted earnings per share|0.24|0.15|

 5. Consolidated cash flow statement
Unit: RMB Yuan
||||
|-|-|-|
|Item|Jan.-Mar. 2015|Jan.-Mar. 2014|
|I. Cash flows from operating activities:|||
|Cash received from sale of commodities and|2,311,468,394.08|1,646,521,888.52|

Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited
||||
|-|-|-|
|rendering of service|||
|Net increase of deposits from customers and dues|||
|from banks|||
|Net increase of loans from the central bank|||
|Net increase of funds borrowed from other|||
|financial institutions|||
|Cash received from premium of original insurance|||
|contracts|||
|Net cash received from reinsurance business|||
|Net increase of deposits of policy holders and|||
|investment fund|||
|Net increase of disposal of financial assets|||
|measured at fair value of which changes are recorded|||
|into current gains and losses|||
|Cash received from interest, handling charges and|||
|commissions|||
|Net increase of intra-group borrowings|||
|Net increase of funds in repurchase business|||
|Tax refunds received|22,306,916.59|1,379,269.70|
|Other cash received relating to operating activities|16,382,898.79|8,523,758.56|
|Subtotal of cash inflows from operating activities|2,350,158,209.46|1,656,424,916.78|
|Cash paid for goods and services|1,128,751,660.68|723,257,042.69|
|Net increase of customer lendings and advances|||
|Net increase of funds deposited in the central bank|||
|and amount due from banks|||
|Cash for paying claims of the original insurance|||
|contracts|||
|Cash for paying interest, handling charges and|||
|commissions|||
|Cash for paying policy dividends|||
|Cash paid to and for employees|283,468,238.34|211,254,229.32|
|Various taxes paid|131,441,100.55|148,479,258.31|
|Other cash payment relating to operating activities|412,215,075.35|301,470,073.93|
|Subtotal of cash outflows from operating activities|1,955,876,074.92|1,384,460,604.25|
|Net cash flows from operating activities|394,282,134.54|271,964,312.53|
|II. Cash flows from investing activities:|||
|Cash received from withdrawal of investments|1,726,000,000.00|2,298,000,000.00|

Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited
||||
|-|-|-|
|Cash received from return on investments|31,039,398.10|23,005,978.66|
|Net cash received from disposal of fixed assets,|||
||4,440.00|72,000.00|
|intangible assets and other long-term assets|||
|Net cash received from disposal of subsidiaries or|||
|other business units|||
|Other cash received relating to investing|||
|activities|||
|Subtotal of cash inflows from investing activities|1,757,043,838.10|2,321,077,978.66|
|Cash paid to acquire fixed assets, intangible assets|||
||21,097,886.03|22,942,809.96|
|and other long-term assets|||
|Cash paid for investment|2,451,000,000.00|2,489,370,000.00|
|Net increase of pledged loans|||
|Net cash paid to acquire subsidiaries and other|||
|business units|||
|Other cash payments relating to investing activities|||
|Subtotal of cash outflows from investing activities|2,472,097,886.03|2,512,312,809.96|
|Net cash flows from investing activities|-715,054,047.93|-191,234,831.30|
|III. Cash Flows from Financing Activities:|||
|Cash received from capital contributions|||
|Including: Cash received from minority|||
|shareholder investments by subsidiaries|||
|Cash received from borrowings|116,148,521.47||
|Cash received from issuance of bonds|||
|Other cash received relating to financing activities|||
|Subtotal of cash inflows from financing activities|116,148,521.47||
|Repayment of borrowings|||
|Cash paid for interest expenses and distribution of|||
|dividends or profit|||
|Including: dividends or profit paid by|||
|subsidiaries to minority shareholders|||
|Other cash payments relating to financing|||
|activities|||
|Sub-total of cash outflows from financing activities|||
|Net cash flows from financing activities|116,148,521.47||
|IV. Effect of foreign exchange rate changes on cash|||
|and cash equivalents|||

Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited
||||
|-|-|-|
|V. Net increase in cash and cash equivalents|-204,623,391.92|80,729,481.23|
|Add: Opening balance of cash and cash|||
||1,516,739,804.86|1,543,513,880.63|
|equivalents|||
|VI. Closing balance of cash and cash equivalents|1,312,116,412.94|1,624,243,361.86|

 6. Cash flow statement of the Company
Unit: RMB Yuan
||||
|-|-|-|
|Item|Jan.-Mar. 2015|Jan.-Mar. 2014|
|I. Cash flows from operating activities:|||
|Cash received from sale of commodities and|||
||1,466,060,466.05|1,387,187,542.05|
|rendering of service|||
|Tax refunds received|4,291,106.27||
|Other cash received relating to operating activities|7,312,358.87|6,135,064.74|
|Subtotal of cash inflows from operating activities|1,477,663,931.19|1,393,322,606.79|
|Cash paid for goods and services|676,848,631.05|613,008,773.48|
|Cash paid to and for employees|190,585,043.67|139,756,464.02|
|Various taxes paid|71,039,924.50|113,320,106.80|
|Other cash payment relating to operating activities|302,459,281.81|229,543,047.77|
|Subtotal of cash outflows from operating activities|1,240,932,881.03|1,095,628,392.07|
|Net cash flows from operating activities|236,731,050.16|297,694,214.72|
|II. Cash flows from investing activities:|||
|Cash received from retraction of investments|1,150,000,000.00|1,000,000,000.00|
|Cash received from return on investments|23,213,055.14|10,043,278.39|
|Net cash received from disposal of fixed assets,|||
|intangible assets and other long-term assets|||
|Net cash received from disposal of subsidiaries or|||
|||38,977.14|
|other business units|||
|Other cash received relating to investing activities|||
|Subtotal of cash inflows from investing activities|1,173,213,055.14|1,010,082,255.53|
|Cash paid to acquire fixed assets, intangible assets|||
||12,283,921.60|15,764,370.14|
|and other long-term assets|||
|Cash paid for investment|1,295,000,000.00|1,430,000,000.00|
|Net cash paid to acquire subsidiaries and other|||
|business units|||
|Other cash payments relating to investing activities|||
|Subtotal of cash outflows from investing activities|1,307,283,921.60|1,445,764,370.14|

Report for the First Quarter of 2015 of Wuxi Little Swan Company Limited
||||
|-|-|-|
|Net cash flows from investing activities|-134,070,866.46|-435,682,114.61|
|III. Cash Flows from Financing Activities:|||
|Cash received from capital contributions|||
|Cash received from borrowings|16,404,201.00||
|Cash received from issuance of bonds|||
|Other cash received relating to financing activities|||
|Subtotal of cash inflows from financing activities|16,404,201.00||
|Repayment of borrowings|||
|Cash paid for interest expenses and distribution of|||
|dividends or profit|||
|Other cash payments relating to financing|||
|activities|||
|Sub-total of cash outflows from financing activities|||
|Net cash flows from financing activities|16,404,201.00||
|IV. Effect of foreign exchange rate changes on cash|||
|and cash equivalents|||
|V. Net increase in cash and cash equivalents|119,064,384.70|-137,987,899.89|
|Add: Opening balance of cash and cash|||
||600,231,105.51|882,413,120.18|
|equivalents|||
|VI. Closing balance of cash and cash equivalents|719,295,490.21|744,425,220.29|

 II.Auditor’s report
Is this report audited?
□ Yes√ No
This report is not audited.
Wuxi Little Swan Company Limited Legal representative: Fang Hongbo 22 April 2015