Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report Stock Code: 603609 Stock Abbreviation (English): Wellhope Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd.
2019 Third Quarter Report
Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report Contents
Section I Important Statements................................................................................ 3 Section II Company Information ................................................................................ 4 Section III Important Disclosures ................................................................................ 8 Section IV Appendix .................................................................................................. 10 2 / 23
Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report Section I Important Statements
I. The Board of Directors, Supervisory Board, Directors, Supervisors and Senior Management of Liaoning Wellhope hereby warrant that there are no false representations, misleading statements or material omissions in this third quarter report, jointly and severally accept full responsibility for the truthfulness, accuracy and completeness of the contents of this report.
II. All the Board Directors attended the board meeting to deliberate the third quarter report.
III. The Company's Chairman Jin Weidong and the Director of internal audit Zhang Wenliang warrant the truthfulness, accuracy and completeness of the information presented in the financial statements in this quarterly report.
IV. The third quarter report is unaudited.
V. This third quarter report has been issued in both Chinese and English versions. In case there is any discrepancy or inconsistency between the two versions, the Chinese version shall prevail. The disclosed Chinese version of 2019 Third Quarter Report can be obtained at: www.sse.com.cn.
Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report Section II Company Information
I. Key financial figures
Unit: yuan Currency: RMB
|||||||||
|-|-|-|-|-|-|-|-|
||||||||Change compared with|
||Item||September 30th, 2019||December 31st, 2018|||
||||||||the end of prior year %|
|Total assets||8,829,221,113.87||6,930,694,562.43||27.39||
|Net assetsattributable tothe shareholdersof the Company||5,205,327,776.91||3,851,915,758.64||35.14||
||Item||January-September, 2019||January-September, 2018||Year-on-year change %|
|Net cash flowfrom operatingactivities||582,911,553.62||278,295,703.02||109.46||
||Item||January-September, 2019||January-September, 2018||Year-on-year change %|
|Operatingrevenue||12,743,225,876.96||11,479,083,463.30||11.01||
|Net profitattributable tothe shareholdersof the Company||713,087,990.71||405,271,572.95||75.95||
|Net profitattributable tothe shareholdersof the Companydeductingnon-recurringgains and losses||704,761,464.34||398,265,406.12||76.96||
|Weightedaverage returnon equity %||15.57||11.43||Increasing 4.14percentage points||
|Basic earningsper share (yuanper share)||0.80||0.49||63.27||
|Diluted earningsper share (yuanper share)||0.80||0.49||63.27||

Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report Non-recurring gains and losses
Unit: yuan Currency: RMB
|||||||
|-|-|-|-|-|-|
||Item||July-September, 2019||January-September, 2019|
|Gains or losses on disposal of non-currentassets||3,768,699.05||-363,117.50||
|Government grants charged to currentgains or losses (excl. the government grantsthat are closely related to the Company'sordinary course of business and gainedconstantly at fixed quotas or amounts asper certain standards based on the statepolices)||3,547,059.43||19,792,699.84||
|Gains or losses on fair value changes inholding the trading financial assets andliabilities as well as derivative financialassets and liabilities, and investmentincome from disposal of trading financialassets and liabilities, derivative financialassets and liabilities as well as other debtinvestment (excl. the effective portion ofhedges that arise in the Company's ordinarycourse of business)||2,577,987.76||2,093,791.87||
|Non-operating income and expense otherthan those described above||-951,757.29||-13,425,746.89||
|Non-controlling interests effects (after-tax)||327,744.32||4,599,140.37||
|Income tax effects||-1,655,046.60||-4,370,241.32||
|Total||7,614,686.67||8,326,526.37||

Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report II. The number of shareholders, top ten shareholders and top ten shareholders holding unrestricted shares as at the end of the reporting period
Unit: share
||||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
|The number of shareholders||||||||26,513|||||||
||Shareholding of top ten shareholders||||||||||||||
||||Total shares||||||||||||
||Name of||||||Restricted||Pledged or Frozen|||||Nature of|
||||held at the||%||||||||||
||shareholder||period-end||||shares held|||Status||Shares||shareholder|
|Jin Weidong||149,549,498||16.21||3,062,117|||Pledged||56,270,000||Domesticnaturalperson||
|DE HEUSMAURITIUS||82,303,939||8.92||2,296,587|||Non||||Foreigncorporation||
|Ding Yunfeng||81,929,558||8.88||1,531,058|||Pledged||49,450,000||Domesticnaturalperson||
|Shao Caimei||54,559,878||5.92|||||Pledged||16,900,000||Domesticnaturalperson||
|Wang Fengjiu||50,084,602||5.43|||||Pledged||10,260,000||Domesticnaturalperson||
|Zhang Tiesheng||48,360,000||5.24|||||Pledged||6,600,000||Domesticnaturalperson||
|ShenyangWellhope HeliInvestment Co.,Ltd.||48,360,000||5.24|||||Non||||Domesticcorporation||
|Wang Zhongtao||47,916,529||5.20||765,529|||Pledged||8,140,000||Domesticnaturalperson||
|Sinosafe AssetsManagement-Industrial andCommercial Bankof China-SinosafeAssetsManagementStably IncreasingProfit No. 12Collection AssetManagementProduct||29,527,559||3.20||29,527,559|||Unknown||||Other||
|Generali ChinaAssetManagement-China MinshengBanking Corp-Generali ChinaAsset-Non-publicOffering SelectionNo. 103 AssetManagementProduct||19,685,039||2.13||19,685,039|||Unknown||||Other||

Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
|||||||||
|-|-|-|-|-|-|-|-|
||Top ten shareholders holding unrestricted shares|||||||
||||||Shares by type|||
||Name of shareholder||Unrestricted shares held|||||
||||||Type||Shares|
|Jin Weidong||146,487,381||RMB commonstock||146,487,381||
|Ding Yunfeng||80,398,500||RMB commonstock||80,398,500||
|DE HEUS MAURITIUS||80,007,352||RMB commonstock||80,007,352||
|Shao Caimei||54,559,878||RMB commonstock||54,559,878||
|Wang Fengjiu||50,084,602||RMB commonstock||50,084,602||
|Zhang Tiesheng||48,360,000||RMB commonstock||48,360,000||
|Shenyang WellhopeHeli Investment Co., Ltd.||48,360,000||RMB commonstock||48,360,000||
|Wang Zhongtao||47,151,000||RMB commonstock||47,151,000||
|National Council for SocialSecurity Fund China 503 Portfolio||12,000,000||RMB commonstock||12,000,000||
|Gao Junsong||10,343,772||RMB commonstock||10,343,772||
|Relationship of aboveshareholders or statement madeby the parties acting in concert||1. Jin Weidong, Ding Yunfeng, Wang Fengjiu, Shao Caimei andWang Zhongtao act in concert;2. Jin Weidong is the actual controller of Shenyang Wellhope HeliInvestment Co., Ltd.3. No relation or concerted action is found among other shareholders.||||||

Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report Section III Important Disclosures
I. Changes of major items in the financial statements
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
||Item||September 30th, 2019||January 1st, 2019||Change||Explanation|
|Monetary capital||1,609,685,128.42||928,902,753.06||73.29%||Cash received fromnon-public issuing stock||
|Derivative financialassets||4,890,492.40||2,042,527.60||139.43%||The position ofderivative financialassets increased||
|Notes receivable||2,122,085.80||13,611,778.44||-84.41%||Honor of notes andletter of creditdecreased||
|Accounts receivable||722,385,769.25||397,891,678.23||81.55%||Newly increasedaccounts receivableduring the settlementperiod||
|Prepayments||263,533,919.32||185,899,348.53||41.76%||Prepayment for rawmaterials increased||
|Other equityinstrumentinvestment||4,547,809.52||3,197,809.52||42.22%||Newly increased otherequity instrumentinvestment in thecurrent period||
|Construction inprogress||170,941,517.37||255,719,188.30||-33.15%||Completedconstructions thattransferred to fixedassets decreased||
|Other non-currentassets||437,311,341.21||197,497,688.18||121.43%||Advance payment forlong-lived assets andfees to farms increased||
|Productivebiological assets||59,836,261.46||30,484,794.88||96.28%||Breeding broilers andpigs increased||
|Accounts payable||811,158,972.23||572,729,779.31||41.63%||Accounts payablerelated to commoditiespurchasing andexpenses increased||
|Tax payable||37,842,143.05||28,744,792.72||31.65%||Corporate income taxpayable increased||
|Non-currentliabilities due withinone year||52,987,170.91||32,999,999.96||60.57%||Long-term borrowingsand long-term payablesdue within one yearincreased||
|Long-termborrowings||42,500,000.00||118,500,000.00||-64.14%||Long-term borrowingsfrom bank decreased||
|Long-term payables||14,994,779.23||23,345,833.38||-35.77%||The reclassification oflong-term payables duewithin one yeardecreased||
|Capital reserve||874,272,800.08||153,824,536.37||468.36%||Premium generated bynon-public issuing stock||
|Othercomprehensiveincome||8,020,686.13||-1,798,486.75||NotApplicable|||Exchange differences on|
||||||||||translation of foreign|
||||||||||currency financial|
||||||||||statements that|
||||||||||calculated under equity|
||||||||||method increased|

Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
||Item||January-September, 2019||January-September, 2018||Change||Explanation|
|Other income||4,389,415.74||2,201,587.35||99.38%||The government grantsthat are closely relatedto the Company'sordinary course ofbusiness increased||
|Income frominvestment||346,071,893.42||197,988,419.80||74.79%||Income frominvestments inassociated companiesand joint venturesincreased||
|Gain or loss fromchanges in fairvalue||-874,910.00||926,860.00||-194.40%||Floating gain or loss offutures decreased||
|Assets impairmentloss||-5,409,240.15||-8,514,579.41||NotApplicable||Withdrawing ofprovision forobsolete stockincreased||
|Gain or loss fromassets disposal||-566,068.09||-862,349.93||NotApplicable||Gain or loss from fixedassets disposalincreased||
|Non-operatingincome||18,299,191.94||10,690,785.47||71.17%||The government grantsincreased||
|Non-operatingexpenditure||20,913,066.65||5,603,955.67||273.18%||Extraordinary lossincreased||
|Net cash flow fromoperating activities||582,911,553.62||278,295,703.02||109.46%||Cash received fromselling commodities andproviding labor servicesincreased||
|Net cash flow frominvesting activities||-549,750,402.35||-382,923,285.99||NotApplicable||Cash paid for assetacquisition increased||
|Net cash flow fromfinancing activities||616,139,019.52||-85,032,946.74||NotApplicable||Cash received fromnon-public issuing stockin the current year||

 II. Net profit in 2019 is estimated to change significantly compared with the same period of prior year
It is anticipated that the white feather broiler market in the fourth quarter will maintain a high prosperity, the Company's production scale of broiler raising and slaughtering will be further expanded. It is estimated that the net profit attributable to the shareholders of the Company in 2019 will increase substantially compared with the same period of prior year. The actual financial data shall be subject to the Company's 2019 annual report and other announcements.
|||
|-|-|
|Company|Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd.|
|Legal representative|Jin Weidong|
|Date|October 25th, 2019|

Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report Section IV Appendix
I. Financial statement
Consolidated Balance Sheet
September 30th, 2019
Liaoning Wellhope Unit: yuan
|||||||
|-|-|-|-|-|-|
||Item||September 30th, 2019||December 31st, 2018|
|Current assets:||||||
|Monetary capital||1,609,685,128.42||928,902,753.06||
|Derivative financial assets||4,890,492.40||2,042,527.60||
|Notes receivable||2,122,085.80||13,611,778.44||
|Accounts receivable||722,385,769.25||397,891,678.23||
|Prepayments||263,533,919.32||185,899,348.53||
|Other receivables||111,108,994.19||98,997,213.04||
|including: Interest receivable||||||
|Dividends receivable||21,741,783.34||5,481,783.34||
|Inventory||1,330,584,026.65||1,410,869,192.26||
|Other current assets||120,994,671.19||118,636,045.77||
|Total current assets||4,165,305,087.22||3,156,850,536.93||
|Non-current assets:||||||
|Available-for-sale financial assets||||3,680,000.00||
|Long-term equity investment||1,720,384,804.80||1,354,820,455.99||
|Other equity instrument investment||4,547,809.52||||
|Fixed assets||1,874,785,547.90||1,516,702,438.29||
|Construction in progress||170,941,517.37||255,719,188.30||
|Productive biological assets||59,836,261.46||30,484,794.88||
|Intangible assets||213,075,369.97||206,387,940.29||
|Goodwill||290,425.67||290,425.67||
|Long-term prepaid expenses||154,154,013.17||177,903,367.82||
|Deferred income tax assets||28,588,935.58||30,357,726.08||
|Other non-current assets||437,311,341.21||197,497,688.18||
|Total non-current assets||4,663,916,026.65||3,773,844,025.50||
|Total assets||8,829,221,113.87||6,930,694,562.43||
|Current liabilities:||||||
|Short-term borrowings||1,411,012,465.70||1,347,690,168.49||
|Accounts payable||811,158,972.23||572,729,779.31||
|Advance receipt||201,234,394.23||161,173,916.67||

Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
||||
|-|-|-|
|Payroll payable|44,193,611.42|49,731,930.35|
|Tax payable|37,842,143.05|28,744,792.72|
|Other payables|365,417,736.77|309,537,195.12|
|including: Interest payable|1,312,168.75|1,784,257.05|
|Dividends payable|1,434,027.14|526,000.00|
|Non-current liabilities due within one year|52,987,170.91|32,999,999.96|
|Total current liabilities|2,923,846,494.31|2,502,607,782.62|
|Non-current liabilities:|||
|Long-term borrowings|42,500,000.00|118,500,000.00|
|Long-term payable|14,994,779.23|23,345,833.38|
|Deferred income|21,027,395.00|20,252,967.41|
|Total non-current liabilities|78,522,174.23|162,098,800.79|
|Total liabilities|3,002,368,668.54|2,664,706,583.41|
|Owners' equity(or shareholders' equity):|||
|Paid-up capital (or share capital)|922,304,396.00|845,751,469.00|
|Capital reserve|874,272,800.08|153,824,536.37|
|deduct: treasury stock|70,688,750.00|70,688,750.00|
|Other comprehensive income|8,020,686.13|-1,316,942.00|
|Surplus reserves|272,882,920.19|272,882,920.19|
|Undistributed profits|3,198,535,724.51|2,651,462,525.08|
|Total equity attributable to the owners ofparent company|5,205,327,776.91|3,851,915,758.64|
|Non-controlling interests|621,524,668.42|414,072,220.38|
|Total owners' equity (or shareholders'equity)|5,826,852,445.33|4,265,987,979.02|
|Total liabilities and owners' equity (orshareholders' equity)|8,829,221,113.87|6,930,694,562.43|

Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report Consolidated Balance Sheet of Parent Company
September 30th, 2019
Unit: yuan
|||||||
|-|-|-|-|-|-|
||Item||September 30th, 2019||December 31st, 2018|
|Current assets:||||||
|Monetary capital||1,144,744,432.03||750,589,871.09||
|Derivative financial assets||3,363,265.40||2,042,527.60||
|Accounts receivable||31,973,440.68||16,033,809.05||
|Prepayments||1,831,374.99||2,278,798.85||
|Other receivables||1,484,068,536.13||869,671,230.01||
|including: Interest receivable||||||
|Dividends receivable||30,365,270.58||15,225,270.58||
|Inventory||29,524,950.94||41,986,504.36||
|Total current assets||2,695,506,000.17||1,682,602,740.96||
|Non-current assets:||||||
|Available-for-sale financial assets||||3,000,000.00||
|Long-term equity investment||3,759,934,279.54||3,285,783,087.96||
|Other equity instrument investment||4,039,369.92||||
|Fixed assets||134,591,950.20||73,509,615.43||
|Construction in progress||1,095,059.48||56,425,656.79||
|Intangible assets||15,642,535.81||16,169,866.87||
|Long-term prepaid expenses||751,060.43||854,845.30||
|Deferred income tax assets||9,578,983.89||9,060,127.91||
|Total non-current assets||3,925,633,239.27||3,444,803,200.26||
|Total assets||6,621,139,239.44||5,127,405,941.22||
|Current liabilities:||||||
|Short-term borrowings||1,070,000,000.00||1,075,000,000.00||
|Accounts payable||36,245,770.92||7,636,692.77||
|Advance receipt||1,027,833.81||2,690,153.80||
|Payroll payable||1,651,664.39||2,749,116.65||
|Tax payable||3,642,935.49||4,166,334.74||
|Other payables||1,472,570,828.20||1,026,382,418.43||
|including: Interest payable||1,312,168.75||1,601,798.61||
|Dividends payable||||||
|Non-current liabilities due within one year||34,000,000.00||20,000,000.00||
|Total current liabilities||2,619,139,032.81||2,138,624,716.39||
|Non-current liabilities:||||||
|Long-term borrowings||42,000,000.00||118,000,000.00||
|Deferred income||10,015,625.00||7,425,000.00||

Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
||||
|-|-|-|
|Deferred income tax liabilities|94,650.00||
|Total non-current liabilities|52,110,275.00|125,425,000.00|
|Total liabilities|2,671,249,307.81|2,264,049,716.39|
|Owners' equity(or shareholders' equity):|||
|Paid-up capital (or share capital)|922,304,396.00|845,751,469.00|
|Capital reserves|870,289,578.29|160,705,065.92|
|deduct: treasury stock|70,688,750.00|70,688,750.00|
|Other comprehensive income|7,216,008.84|-1,305,935.62|
|Surplus reserves|272,882,920.19|272,882,920.19|
|Undistributed profits|1,947,885,778.31|1,656,011,455.34|
|Total owners' equity (or shareholders'equity)|3,949,889,931.63|2,863,356,224.83|
|Total liabilities and owners' equity (orshareholders' equity)|6,621,139,239.44|5,127,405,941.22|

Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report Consolidated Income Statement
January-September, 2019
Liaoning Wellhope Unit: yuan
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
||||July-September,||July-September,||January-September,||January-September,|
||Item|||||||||
||||2019||2018||2019||2018|
|1. Total operating revenue||5,015,825,872.21||4,628,867,760.81||12,743,225,876.96||11,479,083,463.30||
|including: Operating revenue||5,015,825,872.21||4,628,867,760.81||12,743,225,876.96||11,479,083,463.30||
|2. Total operating costs||4,690,833,834.78||4,432,517,695.01||12,126,002,964.90||11,118,921,432.10||
|including:Operating costs||4,433,516,820.01||4,212,766,453.17||11,419,337,434.95||10,510,246,761.25||
|Taxes and surtaxes||6,525,828.70||6,081,909.91||19,224,556.04||17,841,100.95||
|Selling expenses||149,408,169.31||118,948,537.14||389,398,894.38||329,650,050.81||
|Administrative expenses||64,201,377.00||52,225,577.05||191,117,342.17||155,830,999.54||
|R&D expenses||17,202,763.02||16,452,748.36||47,224,108.89||46,224,588.44||
|Financial expenses||19,978,876.74||26,042,469.38||59,700,628.47||59,127,931.11||
|including: Interest expenses||19,456,681.91||17,684,031.56||59,668,390.61||54,233,446.14||
|Interest income||-3,115,573.29||-979,741.56||-5,756,801.45||-3,881,601.66||
|add: Other income||2,196,465.64||1,716,287.35||4,389,415.74||2,201,587.35||
|Income from investment||158,004,862.27||105,248,253.41||346,071,893.42||197,988,419.80||
|including: Income frominvestments in associatedcompanies and joint ventures||151,912,887.19||104,370,812.63||338,108,829.04||193,521,407.95||
|Gain or loss from changes in fairvalue||-705,710.00||91,400.00||-874,910.00||926,860.00||
|Credit impairment loss||-9,144,048.97||-14,437,412.66||-27,678,451.02||-39,469,148.47||
|Assets impairment loss||-5,140,167.72||2,176,821.66||-5,409,240.15||-8,514,579.41||
|Gain or loss from assetsdisposal||-520,708.86||-23,354.80||-566,068.09||-862,349.93||
|3. Operating profit||469,682,729.79||291,122,060.76||933,155,551.96||512,432,820.54||
|add: Non-operating income||2,484,261.96||2,125,220.64||18,299,191.94||10,690,785.47||
|deduct: Non-operatingexpenditure||2,590,380.06||1,309,545.58||20,913,066.65||5,603,955.67||
|4. Pretax profit||469,576,611.69||291,937,735.82||930,541,677.25||517,519,650.34||
|deduct: Income tax expense||34,337,932.36||17,291,819.98||65,556,455.05||50,441,413.36||
|5. Net profit||435,238,679.33||274,645,915.84||864,985,222.20||467,078,236.98||
|Net profit from continuingoperations||435,238,679.33||274,645,915.84||864,985,222.20||467,078,236.98||

Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
||||||
|-|-|-|-|-|
|A. Net profit attributable to theshareholders of parentcompany|354,079,351.53|240,912,462.24|713,087,990.71|405,271,572.95|
|B. Non-controlling interestsincome|81,159,327.80|33,733,453.60|151,897,231.49|61,806,664.03|
|6. Other comprehensiveincome, net of tax|5,964,430.88|3,147,862.52|10,626,389.70|-1,097,710.29|
|Attributable to owners ofparent company|5,874,088.31|3,147,862.52|9,819,172.88|-1,097,710.29|
|a. Other comprehensiveincome that cannot bereclassified into gains or losses|||||
|b. Other comprehensiveincome that will be reclassifiedinto the gains or losses|5,874,088.31|3,147,862.52|9,819,172.88|-1,097,710.29|
|(a) Other comprehensiveincome that can be transferredin gains or losses under theequity method|5,763,669.61|3,147,862.52|8,832,574.54|-1,097,710.29|
|(b) Exchange differences ontranslation of foreign currencyfinancial statements|110,418.70||986,598.34||
|Attributable to non-controllinginterests|90,342.57||807,216.82||
|7. Total comprehensive income|441,203,110.21|277,793,778.36|875,611,611.90|465,980,526.69|
|Attributable to the owners ofparent company|359,953,439.84|244,060,324.76|722,907,163.59|404,173,862.66|
|Attributable to non-controllinginterests|81,249,670.37|33,733,453.60|152,704,448.31|61,806,664.03|
|8. EPS|||||
|a. Basic earnings per share(yuan per share)|0.39|0.29|0.80|0.49|
|b. Diluted earnings per share(yuan per share)|0.39|0.29|0.80|0.49|

Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report Consolidated Income Statement of Parent Company
January-September, 2019
Unit: yuan
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
||||July-September,||July-September,||January-September,||January-September,|
||Item|||||||||
||||2019||2018||2019||2018|
|1. Total operating revenue||196,512,399.27||169,196,467.35||458,252,021.02||476,932,368.06||
|Deduct: Operating costs||131,084,785.29||112,084,564.58||305,136,741.09||319,893,020.91||
|Taxes and surtaxes||367,562.19||371,820.43||1,180,372.80||1,137,317.46||
|Selling expenses||3,050,709.07||4,168,046.08||10,301,948.92||10,773,210.49||
|Administrative expenses||8,319,467.74||3,273,186.47||24,824,924.67||15,686,590.29||
|R&D expenses||4,946,284.85||8,634,108.47||15,250,620.64||19,626,528.13||
|Financial expenses||6,015,985.79||6,636,485.68||20,980,959.39||20,128,547.11||
|including: Interest expenses||14,418,872.89||13,325,163.31||43,531,437.16||41,144,052.39||
|Interest income||-8,416,479.52||-6,702,416.27||-22,709,313.34||-21,120,507.58||
|add: Other income||1,225,625.00||||1,349,375.00||||
|Income from investment||174,957,553.38||111,079,089.08||377,677,888.29||202,759,510.74||
|including: Income frominvestments in associatedcompanies and joint ventures||152,387,386.72||104,279,261.79||338,066,397.52||193,003,760.29||
|Gain or loss from changes in fairvalue||-135,780.00||91,400.00||631,000.00||926,860.00||
|Credit impairment loss||2,992,205.06||983,608.03||-390,164.84||-19,940,097.74||
|Assets impairment loss||||||||-6,150,602.09||
|Gain or loss from assetsdisposal||8,921.74||||-22,077.70||||
|2. Operating profit||221,776,129.52||146,182,352.75||459,822,474.26||267,282,824.58||
|add: Non-operating income||1,070.00||570,000.00||10,629,590.00||3,342,106.50||
|deduct: Non-operatingexpenditure||15,000.00||600,000.00||1,341,100.00||600,058.28||
|3. Pretax profit||221,762,199.52||146,152,352.75||469,110,964.26||270,024,872.80||
|deduct: Income tax expense||6,886,203.87||2,925,154.03||11,221,850.01||7,164,044.08||
|4. Net profit||214,875,995.65||143,227,198.72||457,889,114.25||262,860,828.72||
|Net profit from continuingoperations||214,875,995.65||143,227,198.72||457,889,114.25||262,860,828.72||
|5. Other comprehensiveincome, net of tax||5,763,669.61||3,147,862.52||8,832,574.54||-1,097,710.29||
|a. Other comprehensive incomethat cannot be reclassified intogains or losses||||||||||
|b. Other comprehensive incomethat will be reclassified intogains or losses||5,763,669.61||3,147,862.52||8,832,574.54||-1,097,710.29||
|(a) Other comprehensiveincome that can be transferredin gains or losses under theequity method||5,763,669.61||3,147,862.52||8,832,574.54||-1,097,710.29||
|6. Total comprehensive income||220,639,665.26||146,375,061.24||466,721,688.79||261,763,118.43||

Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report Consolidated Statement of Cash Flow
January-September, 2019
Liaoning Wellhope Unit: yuan
||||
|-|-|-|
|Item|January-September, 2019|January-September, 2018|
|1. Cash flow from operating activities|||
|Cash received from selling commodities,|||
||12,867,947,661.38|11,489,358,737.29|
|providing labor services|||
|Tax refunds|20,422,787.11|19,082,294.89|
|Cash received from other activities related to|||
||56,208,041.93|60,725,550.46|
|operating|||
|Sub-total of cash inflow of operating activities|12,944,578,490.42|11,569,166,582.64|
|Cash paid for purchasing commodities and|||
||11,276,295,939.90|10,362,295,276.16|
|receiving labor services|||
|Cash paid to and for employee|471,606,862.89|406,073,770.90|
|Tax payments|94,435,382.11|102,198,918.06|
|Cash paid to other activities related to operating|519,328,751.90|420,302,914.50|
|Sub-total of cash outflow of operating|||
||12,361,666,936.80|11,290,870,879.62|
|activities|||
|Net cash flow from operating activities|582,911,553.62|278,295,703.02|
|2. Cash flow from investing activities|||
|Cash received from disinvestment|1,050,000.00|187,516.32|
|Cash received from return on investment|22,103,112.29|11,464,468.26|
|Net cash received from disposal of fixed assets,|||
||1,267,093.00|1,179,134.92|
|intangible assets and other long-lived assets|||
|Net cash received from disposal of subsidiaries|||
||194,529.44|522,233.92|
|and other business units|||
|Cash received from other activities related to|||
||2,377,932.15|994,414.81|
|investment|||
|Sub-total of cash inflow of investing activities|26,992,666.88|14,347,768.23|
|Cash paid for acquiring and building fixed assets,|||
||384,826,859.83|320,175,157.06|
|intangible assets and other long-lived assets|||
|Cash paid for investments|42,134,198.47|77,095,897.16|
|Net cash paid for acquiring subsidiaries and|||
||113,573,868.96||
|other business units|||
|Cash paid to other activities related to|||
||36,208,141.97||
|investment|||
|Sub-total of cash outflow of investing activities|576,743,069.23|397,271,054.22|
|Net cash flow from investing activities|-549,750,402.35|-382,923,285.99|

Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
||||
|-|-|-|
|3. Cash flow from financing activities|||
|Cash received from absorbing investments|850,192,738.50|7,570,000.00|
|including: Capital contributed by non-controlling|||
||80,415,000.00|7,570,000.00|
|interests to subsidiaries|||
|Cash received from borrowings|1,204,498,455.68|1,060,990,000.00|
|Cash received from other activities related to|||
||640,000.00||
|financing|||
|Sub-total of cash inflow of financing activities|2,055,331,194.18|1,068,560,000.00|
|Repayments of borrowings|1,205,540,041.67|1,022,300,000.00|
|Cash paid for distributing dividends, profits, or|||
||227,218,147.63|131,292,946.74|
|paid for interests|||
|including: Dividends or profits paid by|||
||4,420,306.88|1,895,000.00|
|subsidiaries to non-controlling interests|||
|Cash paid to other activities related to financing|||
||6,433,985.36||
|activities|||
|Sub-total of cash outflow of financing activities|1,439,192,174.66|1,153,592,946.74|
|Net cash flow from financing activities|616,139,019.52|-85,032,946.74|
|4. Effect of foreign exchange rate fluctuations|||
||-3,773,741.25|250,822.26|
|on cash and cash equivalents|||
|5. Net increase in cash and cash equivalents|645,526,429.54|-189,409,707.45|
|add: Opening balance of cash and cash|||
||889,204,873.97|740,680,891.81|
|equivalents|||
|6. Closing balance of cash and cash equivalents|1,534,731,303.51|551,271,184.36|

Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report Consolidated Statement of Cash Flow of Parent Company
January-September, 2019
Unit: yuan
||||||||
|-|-|-|-|-|-|-|
|||||January-September,||January-September,|
||Item||||||
|||||2019||2018|
|1. Cash flow from operating activities|||||||
|Cash received from selling commodities, providing laborservices|||436,047,078.54||457,034,069.76||
|Cash received from other activities related to operating|||245,362,412.47||291,578,942.04||
|Sub-total of cash inflow of operating activities|||681,409,491.01||748,613,011.80||
|Cash paid for purchasing commodities and receiving laborservices|||263,010,743.82||300,576,248.55||
|Cash paid to and for employee|||21,895,620.99||18,367,021.64||
|Tax payments|||15,974,070.95||14,833,947.51||
|Cash paid to other activities related to operating|||401,130,039.95||357,853,863.11||
|Sub-total of cash outflow of operating activities|||702,010,475.71||691,631,080.81||
|Net cash flow from operating activities|||-20,600,984.70||56,981,930.99||
|2. Cash flow from investing activities|||||||
|Cash received from disinvestment|||1,050,000.00||812,000.00||
|Cash received from return on investment|||52,466,504.29||18,509,072.37||
|Net cash received from disposal of fixed assets, intangibleassets and other long-lived assets|||34,000.00||||
|Net cash received from disposal of subsidiaries and otherbusiness units|||4,000,001.00||||
|Cash received from other activities related to investment|||||994,414.81||
|Sub-total of cash inflow of investing activities|||57,550,505.29||20,315,487.18||
|Cash paid for acquiring and building fixed assets, intangibleassets and other long-lived assets|||9,465,370.42||17,925,156.39||
|Cash paid for investments|||127,573,378.79||157,553,808.71||
|Cash paid to other activities||related to investment|3,010,000.00||||
|Sub-total of cash outflow of investing activities|||140,048,749.21||175,478,965.10||
|Net cash flow from investing activities|||-82,498,243.92||-155,163,477.92||
|3. Cash flow from financing activities|||||||
|Cash received from absorbing investments|||769,777,738.50||||
|Cash received from borrowings|||770,000,000.00||1,040,000,000.00||
|Sub-total of cash inflow of financing activities|||1,539,777,738.50||1,040,000,000.00||
|Repayments of borrowings|||837,000,000.00||1,002,000,000.00||
|Cash paid for distributing dividends, profits, or paid forinterests|||209,835,858.30||122,958,477.74||
|Sub-total of cash outflow of financing activities|||1,046,835,858.30||1,124,958,477.74||
|Net cash flow from financing activities|||492,941,880.20||-84,958,477.74||
|4. Effect of foreign exchange rate fluctuations on cash andcash equivalents|||157.39||288.89||
|5. Net increase in cash and cash equivalents|||389,842,808.97||-183,139,735.78||
|add: Opening balance of cash and cash equivalents|||740,891,873.25||525,941,409.05||
|6. Closing balance of cash and cash equivalents|||1,130,734,682.22||342,801,673.27||

Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report II. Implementing new financial instrument standards, new income standards and new leasing standards at the beginning of the current year, the adjustment of some items in the financial statements
Consolidated Balance Sheet
Unit: yuan Currency:RMB
|||||||||
|-|-|-|-|-|-|-|-|
||Item||December 31st, 2018||January 1st, 2019||Adjustment|
|Current assets:||||||||
|Monetary capital||928,902,753.06||928,902,753.06||||
|Derivative financial assets||2,042,527.60||2,042,527.60||||
|Notes receivable||13,611,778.44||13,611,778.44||||
|Accounts receivable||397,891,678.23||397,891,678.23||||
|Prepayments||185,899,348.53||185,899,348.53||||
|Other receivables||98,997,213.04||98,997,213.04||||
|including: Interest receivable||||||||
|Dividends receivable||5,481,783.34||5,481,783.34||||
|Inventory||1,410,869,192.26||1,410,869,192.26||||
|Other current assets||118,636,045.77||118,636,045.77||||
|Total current assets||3,156,850,536.93||3,156,850,536.93||||
|Non-current assets:||||||||
|Available-for-sale financial assets||3,680,000.00||||-3,680,000.00||
|Long-term equity investment||1,354,820,455.99||1,354,820,455.99||||
|Other equity instrument investment||||3,197,809.52||3,197,809.52||
|Fixed assets||1,516,702,438.29||1,516,702,438.29||||
|Construction in progress||255,719,188.30||255,719,188.30||||
|Productive biological assets||30,484,794.88||30,484,794.88||||
|Intangible assets||206,387,940.29||206,387,940.29||||
|Goodwill||290,425.67||290,425.67||||
|Long-term prepaid expenses||177,903,367.82||177,903,367.82||||
|Deferred income tax assets||30,357,726.08||30,357,726.08||||
|Other non-current assets||197,497,688.18||197,497,688.18||||
|Total non-current assets||3,773,844,025.50||3,773,361,835.02||-482,190.48||
|Total assets||6,930,694,562.43||6,930,212,371.95||-482,190.48||
|Current liabilities:||||||||
|Short-term borrowings||1,347,690,168.49||1,347,690,168.49||||
|Accounts payable||572,729,779.31||572,729,779.31||||
|Advance receipt||161,173,916.67||161,173,916.67||||
|Payroll payable||49,731,930.35||49,731,930.35||||
|Tax payable||28,744,792.72||28,744,792.72||||
|Other payables||309,537,195.12||309,537,195.12||||
|including: Interest payable||1,784,257.05||1,784,257.05||||

Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
|||||
|-|-|-|-|
|Dividends payable|526,000.00|526,000.00||
|Non-current liabilities due within oneyear|32,999,999.96|32,999,999.96||
|Total current liabilities|2,502,607,782.62|2,502,607,782.62||
|Non-current liabilities:||||
|Long-term borrowings|118,500,000.00|118,500,000.00||
|Long-term payables|23,345,833.38|23,345,833.38||
|Deferred income|20,252,967.41|20,252,967.41||
|Total non-current liabilities|162,098,800.79|162,098,800.79||
|Total liabilities|2,664,706,583.41|2,664,706,583.41||
|Owners' equity (or shareholders'equity):||||
|Paid-up capital (or share capital)|845,751,469.00|845,751,469.00||
|Capital reserve|153,824,536.37|153,824,536.37||
|deduct: treasury stock|70,688,750.00|70,688,750.00||
|Other comprehensive income|-1,316,942.00|-1,798,486.75|-481,544.75|
|Surplus reserves|272,882,920.19|272,882,920.19||
|Undistributed profits|2,651,462,525.08|2,651,462,525.08||
|Total equity attributable to the ownersof parent company|3,851,915,758.64|3,851,434,213.89|-481,544.75|
|Non-controlling interests|414,072,220.38|414,071,574.65|-645.73|
|Total owners' equity(or shareholders' equity)|4,265,987,979.02|4,265,505,788.54|-482,190.48|
|Total liabilities and owners' equity(or shareholders' equity)|6,930,694,562.43|6,930,212,371.95|-482,190.48|

Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report Consolidated Balance Sheet of Parent Company
Unit: yuan Currency:RMB
|||||||||
|-|-|-|-|-|-|-|-|
||Item||December 31st, 2018||January 1st, 2019||Adjustment|
|Current assets:||||||||
|Monetary capital||750,589,871.09||750,589,871.09||||
|Derivative financial assets||2,042,527.60||2,042,527.60||||
|Accounts receivable||16,033,809.05||16,033,809.05||||
|Prepayments||2,278,798.85||2,278,798.85||||
|Other receivables||869,671,230.01||869,671,230.01||||
|including: Interest receivable||||||||
|Dividends receivable||15,225,270.58||15,225,270.58||||
|Inventory||41,986,504.36||41,986,504.36||||
|Total current assets||1,682,602,740.96||1,682,602,740.96||||
|Non-current assets:||||||||
|Available-for-sale financial assets||3,000,000.00||||-3,000,000.00||
|Long-term equity investment||3,285,783,087.96||3,285,783,087.96||||
|Other equity instrument investment||||2,689,369.92||2,689,369.92||
|Fixed assets||73,509,615.43||73,509,615.43||||
|Construction in progress||56,425,656.79||56,425,656.79||||
|Intangible assets||16,169,866.87||16,169,866.87||||
|Long-term prepaid expenses||854,845.30||854,845.30||||
|Deferred income tax assets||9,060,127.91||9,060,127.91||||
|Total non-current assets||3,444,803,200.26||3,444,492,570.18||-310,630.08||
|Total assets||5,127,405,941.22||5,127,095,311.14||-310,630.08||
|Current liabilities:||||||||
|Short-term borrowings||1,075,000,000.00||1,075,000,000.00||||
|Accounts payable||7,636,692.77||7,636,692.77||||
|Advance receipt||2,690,153.80||2,690,153.80||||
|Payroll payable||2,749,116.65||2,749,116.65||||
|Tax payable||4,166,334.74||4,166,334.74||||
|Other payables||1,026,382,418.43||1,026,382,418.43||||
|including: Interest payable||1,601,798.61||1,601,798.61||||
|Non-current liabilities due within oneyear||20,000,000.00||20,000,000.00||||
|Total current liabilities||2,138,624,716.39||2,138,624,716.39||||
|Non-current liabilities:||||||||
|Long-term borrowings||118,000,000.00||118,000,000.00||||
|Deferred income||7,425,000.00||7,425,000.00||||
|Total non-current liabilities||125,425,000.00||125,425,000.00||||
|Total liabilities||2,264,049,716.39||2,264,049,716.39||||

Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd. 2019 Third Quarter Report
|||||
|-|-|-|-|
|Owners' equity(or shareholders' equity):||||
|Paid-up capital (or share capital)|845,751,469.00|845,751,469.00||
|Capital reserve|160,705,065.92|160,705,065.92||
|deduct: treasury stock|70,688,750.00|70,688,750.00||
|Other comprehensive income|-1,305,935.62|-1,616,565.70|-310,630.08|
|Surplus reserves|272,882,920.19|272,882,920.19||
|Undistributed profits|1,656,011,455.34|1,656,011,455.34||
|Total owners' equity (or shareholders'equity)|2,863,356,224.83|2,863,045,594.75|-310,630.08|
|Total liabilities and owners' equity (orshareholders' equity)|5,127,405,941.22|5,127,095,311.14|-310,630.08|