China Fangda Group Co., Ltd. 2019 Q1 Report China Fangda Group Co., Ltd.
2019 Q1 Report
April 2019
China Fangda Group Co., Ltd. 2019 Q1 Report I Important Statement
The members of the Board and the Company guarantee that the quarterly report is free from any false information, misleading statement or material omission and are jointly and severally liable for theinformation’s truthfulness, accuracy and integrity.
All the Directors have attended the meeting of the board meeting at which this report was examined.
Mr. Xiong Jianming, the Chairman of Board, Mr. Lin Kebin, the Chief Financial Officer, and Mr. Wu Bohua, the manager of accounting department declare: the Financial Report carried in this report is authentic and completed.
China Fangda Group Co., Ltd. 2019 Q1 Report II. General Information
1. Financial Highlight
Whether the Company needs to make retroactive adjustment or restatement of financial data of previous years
□ Yes√ No
|||||
|-|-|-|-|
||This report period|Same period last year|Year-on-year change (%)|
|Turnover (yuan)|670,452,093.70|650,032,997.33|3.14%|
|Net profit attributable to shareholders of|69,998,533.09|98,377,550.44||
||||-28.85%|
|the listed company (yuan)||||
|Net profit attributable to the shareholders||||
|of the listed company and after deducting|64,930,951.19|88,737,051.63|-26.83%|
|of non-recurring gain/loss (RMB)||||
|Net cash flow generated by business|-296,237,735.96|-40,623,633.07||
||||-629.23%|
|operation (RMB)||||
|Basic earnings per share (yuan/share)|0.06|0.08|-25.00%|
|Diluted Earnings per share (yuan/share)|0.06|0.08|-25.00%|
||||Decreased by 1.62|
|Weighted average net income/asset ratio|1.37%|2.99%||
||||percentage points|
||End of the report period|End of last year|Year-on-year change|
|Total asset (RMB)|10,650,592,249.67|10,658,854,133.73|-0.08%|
|Net profit attributable to the shareholders||||
||4,964,651,509.23|5,195,187,621.88|-4.44%|
|of the listed company (RMB)||||

Note: The above-mentioned decrease in “net profit attributable to shareholders of the listed company” was mainly due to the fact that the Fangda Town project which had a higher gross profit during the reporting period and contributed more to the profit in the previous year, was nearing the end of the planned sales area resulting in a decrease in operating income and profit. The Company's curtain wall system and material industry, rail transportation equipment industry's operating income net profit have increased as follows:
1. The real estate industry realized operating income of RMB 163,434,900 in the first quarter of 2019, a decrease of40.60% over the same period of the previous year; net profit of RMB 50,790,600 was reduced by RMB48,468,900 compared with the same period of the previous year with a decrease of48.83%.
2. In the first quarter of 2019, the curtain wall system and materials industry realized operating income of RMB431,126,200, an increase of40.56% over the same period of the previous year; the net profit was RMB14,207,100, an increase of256.28% over the same period of last year;
3. In the first quarter of 2019, the rail transit equipment industry realized operating income of RMB68,360,100, an increase of17.25% over the same period of the previous year; the net profit was RMB11,233,400, an increase of39.19% over the same period
of the previous year.
China Fangda Group Co., Ltd. 2019 Q1 Report Total stock equity on the trading day before disclosure:
|||
|-|-|
|Total number of shares on the trading day before||
||1,123,384,189|
|disclosure (in share)||
|Overall diluted earnings per share calculated||
||0.0623|
|using the latest number of shares (RMB/share)||

Accidental gain/loss item and amount
√ Applicable□ Inapplicable
In RMB
||||
|-|-|-|
||Amount from beginning of||
|Item|the year to the end of the|Notes|
||report period||
|Non-current asset disposal gain/loss (including the write-off part|||
||-18,130.72||
|for which assets impairment provision is made)|||
|Subsidies accounted into the current income account (except the|||
|government subsidy closely related to the enterprise’s business|2,764,802.92||
|and based on unified national standard quota)|||
|Capital using expense charged to non-financial enterprises and|||
||63,333.33||
|accounted into the current income account|||
|Gain from entrusted investment or assets management|2,771,670.18||
|Other non-business income and expenditures other than the above|604,262.22||
|Less: Influenced amount of income tax|1,118,356.03||
|Total|5,067,581.90|--|

Explanation statement should be made for accidental gain/loss items defined and accidental gain/loss items defined as regular gain/loss items according to the Explanation Announcement of Information Disclosure No. 1 - Non-recurring gain/loss mentioned.□ Applicable√ Inapplicable
No circumstance that should be defined as recurrent profit and loss according to Explanation Announcement of Information Disclosure No. 1 - Non-recurring gain/loss occurs in the report period.
2. Total number of shareholders and shareholding of top 10 shareholders by the end of the report period
1. Ordinary shareholders, preference shareholders with resumed voting rights and top 10 shareholders In share
|||||
|-|-|-|-|
|||Number of shareholders of preferred||
|Number of shareholders of common||stocks of which voting rights||
||75,069||0|
|shares at the end of the report period||recovered in the report period (if||
|||any)||
|Top 10 Shareholders||||

China Fangda Group Co., Ltd. 2019 Q1 Report
||||||||
|-|-|-|-|-|-|-|
||Nature of|Shareholding||Conditional|Pledging or freezing||
|Shareholder|||Number of shares||||
||shareholder|percentage||shares|Share status|Amount|
|ShenzhenBanglinTechnologiesDevelopmentCo., Ltd.|Domesticnon-state legalperson|10.08%|113,202,154|0|||
||||||Pledged|32,860,000|
|ShengjiuInvestment Ltd.|Foreign legalperson|8.36%|93,875,638|0|||
|Gong QingCheng Shi Li HeInvestmentManagementPartnershipEnterprise(limited partner)|Domesticnon-state legalperson|2.38%|26,791,488|0|||
|Fang Wei|Domestic naturalperson|1.06%|11,933,370|0|||
|SUN HUNG KAIINVESTMENTSERVICES LTD|Foreign legalperson|0.91%|10,175,518|0|||
|VANGUARDEMERGINGMARKETSSTOCK INDEXFUND|Foreign legalperson|0.71%|7,946,483|0|||
|ShenwanHongyuanSecurities (HongKong) Co., Ltd.|Foreign legalperson|0.54%|6,108,732|0|||
|VANGUARDTOTALINTERNATIONAL STOCKINDEX FUND|Foreign legalperson|0.54%|6,025,958|0|||
|Qu Chunlin|Domestic naturalperson|0.36%|4,038,961|0|||
|First ShanghaiSecuritiesLimited|Foreign legalperson|0.36%|4,001,704|0|||

China Fangda Group Co., Ltd. 2019 Q1 Report
|||||
|-|-|-|-|
|Top 10 holders of unconditional shares||||
|||Category of shares||
|Shareholder|Amount of shares without sales restriction|Category of||
||||Amount|
|||shares||
|Shenzhen Banglin TechnologiesDevelopment Co., Ltd.|113,202,154|RMB common||
||||113,202,154|
|||shares||
|Shengjiu Investment Ltd.|93,875,638|Foreign shares||
|||listed in domestic|93,875,638|
|||exchanges||
|Gong Qing Cheng Shi Li HeInvestment Management PartnershipEnterprise (limited partner)|26,791,488|||
|||RMB common||
||||26,791,488|
|||shares||
|Fang Wei|11,933,370|RMB common||
||||11,933,370|
|||shares||
|SUN HUNG KAI INVESTMENTSERVICES LTD|10,175,518|Foreign shares||
|||listed in domestic|10,175,518|
|||exchanges||
|VANGUARD EMERGINGMARKETS STOCK INDEX FUND|7,946,483|Foreign shares||
|||listed in domestic|7,946,483|
|||exchanges||
|Shenwan Hongyuan Securities(Hong Kong) Co., Ltd.|6,108,732|Foreign shares||
|||listed in domestic|6,108,732|
|||exchanges||
|VANGUARD TOTALINTERNATIONAL STOCK INDEXFUND|6,025,958|Foreign shares||
|||listed in domestic|6,025,958|
|||exchanges||
|Qu Chunlin|4,038,961|RMB common||
||||4,038,961|
|||shares||
|First Shanghai Securities Limited|4,001,704|Foreign shares||
|||listed in domestic|4,001,704|
|||exchanges||
||Among the shareholders, Shenzhen Banglin Technology Development Co., Ltd. and Shengjiu|||
||Investment Co., Ltd. are parties action-in-concert. Shenzhen Banglin Technology|||
|Notes to top ten shareholder||||
||Development Co., Ltd. and Gong Qing Cheng Shi Li He Investment Management Partnership|||
|relationship or "action in concert"||||
||Enterprise are related parties. The Company is not notified of other action-in-concert or|||
||related parties among the other holders of current shares.|||
|Top-10 common share shareholders||||
||None|||
|participating in margin trade (if any)||||

Agreed re-purchasing by theCompany’s top 10 shareholders of common shares and top 10 shareholders of unconditional common
shares in the report period
China Fangda Group Co., Ltd. 2019 Q1 Report□ Yes√ No
No agreed re-purchasing by theCompany’s top 10 shareholders of common shares and top 10 shareholders of unconditional common shares in the report period
2. Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end of the report period
□ Applicable√ Inapplicable
China Fangda Group Co., Ltd. 2019 Q1 Report III Significant Events
1. Major changes in accounting items and financial data in the report period and reasons√ Applicable□ Inapplicable
||||||
|-|-|-|-|-|
|Item|March 31, 2019|December 31,2019|Change|Cause of change|
|Other current assets|79,973,007.98|51,698,111.14|54.69%|Mainly due to the increase in the input tax to beverified and to be deducted|
|Short-term loans|700,000,000.00|208,000,000.00|236.54%|Mainly due to increase in bank borrowings|
|Prepayment received|174,471,020.46|278,577,848.54|-37.37%|Mainly due to income recognized in this period|
|Employees’ wagepayable|20,937,500.20|44,513,062.17|-52.96%|Annual bonus paid|
|Non-current liabilitiesdue in 1 year|450,000,000.00|200,000,000.00|125.00%|Reclassified long-term loans due within 1 year|
|Surplus reserves|54,042,195.07|120,475,221.40|-55.14%|Mainly due to the repurchase of B shares in thecurrent period|
|Item|Amount of theCurrent Term|Last period|Change|Cause of change|
|Taxes and surcharges|33,241,693.55|57,107,989.44|-41.79%|Mainly due to the decrease in taxes on real estatesales business|
|Administrativeexpense|48,521,803.12|37,182,042.44|30.50%|Mainly due to the increase in operating income ofthe Company's curtain wall system and materialsand subway screen door business, resulting in anincrease in related expenses|
|Income tax expenses|19,513,176.48|33,501,097.89|-41.75%|Mainly due to the decrease in profits which is dueto the decrease in income tax|
|Cash flow generatedby business operations,net|-296,237,735.96|-40,623,633.07|-629.23%|Mainly due to the decrease in collection of realestate sales and the decrease in the receipt ofmargins received|
|Net cash flowgenerated by financingactivities|292,596,452.25|29,253,596.52|900.21%|Mainly due to the increase in bank loans and thepayment of cash dividends in the current period.|

2. Progress of key issues and its impacts and solutions
√ Applicable□ Inapplicable
(1) Property project development progress:
1. Shenzhen Fangda Town Project: In the first quarter of 2019, the Fangda Town project achieved a sales area of 2,540.9 square
meters with a cumulative sales area of 84,951.4 square meters; the commercial investment signing rate was91%; as of the end of the
China Fangda Group Co., Ltd. 2019 Q1 Report first quarter of 2019, the total rented area ofbuilding1# is 12,462.44 square meters and the occupancy rate is17.18%.
2. Nanchang Fenghuangzhou Project: Construction started in May 2018. The project covers an area of about 17,000 square meters with a total construction area of about 93,000 square meters. The total construction area is 66,000 square meters covering commercial hotel and apartment buildings. The office building is an integrated commercial complex. As of the end of the first quarter of 2019, the two-story basement in the main project has been basically completed. The project plans to start pre-sale in the second half of 2019 and to complete the acceptance in the first half of 2020. At present, the project construction is progressing in accordance with the expected engineering nodes.
3. Shenzhen Fangda Bangshen Industrial Park Project: The project is located in Fuyong, Bao'an District, Shenzhen. It covers an area of 20,714.9 square meters and is currently an industrial plant. The project has begun to declare the project. As of the end of the first quarter of 2019 the project is still in the stage of approval.
4. Shenzhen Henggang Dakanghe renewal project: At the end of September 2018, Shenzhen Zhongrong Litai Investment Co., Ltd., a holding subsidiary of Fangda Real Estate Co., Ltd., a wholly-owned subsidiary of the Company, and Shenzhen Henggang Dakang Co., Ltd. and Shangzhong branch of the Shenzhen Henggang Dakang Co., Ltd. signed a letter of intent for the cooperation of the Dakanghe urban renewal project. The project is located in Dakang Village, Yuanshan Sub-district, Longgang District, Shenzhen, north to Yanhe Road, south to Shanzixia Road, west to Xiaokang Road, and east to Yuying Street. The area to be demolished is about 80,000 square meters. The project is mainly for residential functions and is subject to government approval. The project work is currently being actively promoted.
(2) Progress in the implementation of share repurchase
√ Applicable□ Inapplicable
The Company held the 10th meeting of the 8th Board of Directors and the first extraordinary shareholders meeting of 2018 on September 10 2018 and September 27 2018 respectively and reviewed and approved the repurchase of some domestically listed foreign shares (B shares). From December 19 2018 to January 3 2019, the Company repurchased 32,097,497 B shares through centralized bidding. On January 11, 2019, the Company handled the cancellation procedures of the above repurchased shares at China Securities Depository and Clearing Co. Ltd. Shenzhen Branch. The number of shares repurchased and canceled in this repurchase accounted for2.78% of the total share capital of the Company before the repurchase and cancellation and the highest repurchase price wasHK$3.58 per share and the lowest price wasHK$3.24 per share. The actual repayment of the repurchased shares wasHK$113,012,632.21 (including transaction fees) and the repurchase has been completed.
(3) Progress in the implementation of the reduction of shareholding shares by means of centralized bidding
□ Applicable√ Inapplicable
3. Commitments that have not been fulfilled by actual controller, shareholders, related parties, acquirers of the Company
□ Applicable√ Inapplicable
There is no commitment that has not been fulfilled by actual controller, shareholders, related parties, acquirers of the Company 4. Forecast of operating performance between January and June in 2019
Warning and reasons of possible net loss or substantial change from the last period between the beginning of the year and the end of the next report period
□ Applicable√ Inapplicable
China Fangda Group Co., Ltd. 2019 Q1 Report 5. Securities investment
□ Applicable√ Inapplicable
The Company made no investment in securities in the report period
6. Derivative investment
√ Applicable□ Inapplicable
In RMB10,000
|||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
|||||||||||||Proporti||
|||||||||||||on of||
|||||||||||||closing||
|||||||||||||investm||
||||||||||||||Actual|
|Derivati||||||||||Impairm||ent||
||||||||Initial||Amount||Closing||gain/lo|
|ve||Related||||||Amount||ent||amount||
||Relation|||Initial|Start|End|investm||sold in||investm||ss in|
|investm||transacti|Type|||||in this||provisio||in the||
||ship|||amount|date|date|ent||this||ent||the|
|ent||on||||||period||n (if||closing||
||||||||amount||period||amount||report|
|operator||||||||||any)||net||
||||||||||||||period|
|||||||||||||assets in||
|||||||||||||the||
|||||||||||||report||
|||||||||||||period||
|Shangha||||||||||||||
|i|Non-affi||Shanghai|||Decemb||||||||
|||||2,535.7|July 13,||2,535.7|8,659.5|||10,627.|||
|Futures|liated|No|aluminu|||er 10,|||567.74|||2.14%|28.88|
|||||6|2018||6|2|||53|||
|Exchan|party||m|||2019||||||||
|ge||||||||||||||
|||||2,535.7|||2,535.7|8,659.5|||10,627.|||
|Total|||||--|--|||567.74|||2.14%|28.88|
|||||6|||6|2|||53|||
|Capital source||||Self-owned fund||||||||||
|Lawsuit (if any)||||None||||||||||
|Disclosure date of derivative||||||||||||||
|investment approval by the Board of||||October 31, 2017||||||||||
|Directors (if any)||||||||||||||
|Disclosure date of derivative||||||||||||||
|investment approval by the||||||||||||||
|Shareholders’ Meeting (if any)||||||||||||||
|Risk analysis and control measures||||||||||||||
|||||To prevent the risk of fluctuation of raw material prices, the Company adopted the||||||||||
|for the derivative holding in the||||||||||||||
|||||aluminum futures exchanged at the domestic futures exchange to provide hedging for||||||||||
|report period (including without||||||||||||||
|||||aluminum as a raw material for the Company. The Company has set up and implemented the||||||||||
|limitation market, liquidity, credit,||||||||||||||
|||||Provincial Regulations on China Fangda Group Domestic Futures Hedging to prevent risks.||||||||||
|operation and legal risks)||||||||||||||

China Fangda Group Co., Ltd. 2019 Q1 Report
|||
|-|-|
|Changes in the market price or fair||
|value of the derivative in the report||
|period, the analysis of the derivative’s||
||Fair value of derivatives are measured at open prices in the futures market|
|fair value should disclose the method||
|used and related assumptions and||
|parameters.||
|Material changes in the accounting||
|policies and rules related to the||
||None|
|derivative in the report period||
|compared to last period||
|Opinions of independent directors on||
|the Company’s derivative investment|None|
|and risk controlling||

7. Reception of investigations, communications, or interviews in the reporting period
√ Applicable□ Inapplicable
|||||
|-|-|-|-|
|Time/date|Way|Visitor|Disclosure of information|
||||Repurchase of B-shares, production and|
|During the reporting period|Telephone communication|Individual||
||||operation conditions, future development|

 8. Incompliant external guarantee
□ Applicable√ Inapplicable
The Company made no incompliant external guarantee in the report period.
9. Non-operating capital use by the controlling shareholder or related parties in the reporting term
□ Applicable√ Inapplicable
The controlling shareholder and its affiliates occupied no capital for non-operating purpose of the Company during the report period.
China Fangda Group Co., Ltd. 2019 Q1 Report IV Financial Statements
1. Financial statements
1. Consolidated Balance Sheet
Prepared by: China Fangda Group Co., Ltd.
March 31, 2019
In RMB
||||
|-|-|-|
|Item|March 31, 2019|December 31, 2018|
|Current asset:|||
|Monetary capital|1,339,642,022.35|1,389,062,083.76|
|Settlement provision|||
|Outgoing call loan|||
|Transactional financial assets|||
|Financial assets measured at fair|||
|value with variations accounted into|||
|current income account|||
|Derivative financial assets|||
|Receivable note and accounts|||
||2,060,730,171.91|2,060,214,724.69|
|receivable|||
|Including: receivable notes|104,429,526.36|140,139,692.84|
|Account receivable|1,956,300,645.55|1,920,075,031.85|
|Prepayment|43,610,238.60|46,454,844.74|
|Insurance receivable|||
|Reinsurance receivable|||
|Provisions of Reinsurance contracts|||
|receivable|||
|Other receivables|174,747,902.46|139,990,188.26|
|Including: interest receivable|63,333.33||
|Dividend receivable|||
|Repurchasing of financial assets|||
|Inventory|641,842,902.19|651,405,832.29|
|Contract assets|||
|Assets held for sales|||

China Fangda Group Co., Ltd. 2019 Q1 Report
||||
|-|-|-|
|Non-current assets due in 1 year|||
|Other current assets|79,973,007.98|51,698,111.14|
|Total current assets|4,340,546,245.49|4,338,825,784.88|
|Non-current assets:|||
|Loan and advancement provided|||
|Debt investment|||
|Sellable financial assets||21,674,008.23|
|Other debt investment|||
|Investment held until mature|||
|Long-term receivable|||
|Long-term share equity investment|69,575,093.68|70,105,657.88|
|Investment in other equity tools|21,674,008.23||
|Other non-current financial assets|||
|Investment real estate|5,261,170,385.58|5,256,442,406.63|
|Fixed assets|436,213,822.62|455,274,241.83|
|Construction in process|62,043,689.87|58,269,452.72|
|Productive biological assets|||
|Gas & petrol|||
|Use right assets|||
|Intangible assets|79,763,381.64|80,313,240.67|
|R&D expense|||
|Goodwill|||
|Long-term amortizable expenses|2,589,588.63|2,114,331.46|
|Deferred income tax assets|352,819,194.26|356,474,925.76|
|Other non-current assets|24,196,839.67|19,360,083.67|
|Total of non-current assets|6,310,046,004.18|6,320,028,348.85|
|Total of assets|10,650,592,249.67|10,658,854,133.73|
|Current liabilities|||
|Short-term loans|700,000,000.00|208,000,000.00|
|Loans from Central Bank|||
|Call loan received|||
|Transactional financial liabilities|||
|Financial liabilities measured at fair|||
|value with variations accounted into|||
|current income account|||

China Fangda Group Co., Ltd. 2019 Q1 Report
||||
|-|-|-|
|Derivative financial liabilities|596,100.00|1,625,725.00|
|Payable notes and accounts|1,373,704,342.44|1,547,495,316.83|
|Prepayment received|174,471,020.46|278,577,848.54|
|Selling of repurchased financial assets|||
|Deposit received and held for others|||
|Entrusted trading of securities|||
|Entrusted selling of securities|||
|Employees’ wage payable|20,937,500.20|44,513,062.17|
|Taxes payable|87,685,331.21|107,709,999.19|
|Other payables|810,800,621.62|813,118,699.84|
|Including: interest payable|2,381,447.47|2,098,971.44|
|Dividend payable|||
|Fees and commissions payable|||
|Reinsurance fee payable|||
|Contract liabilities|||
|Liabilities held for sales|||
|Non-current liabilities due in 1 year|450,000,000.00|200,000,000.00|
|Other current liabilities|10,362,063.92|9,328,682.25|
|Total current liabilities|3,628,556,979.85|3,210,369,333.82|
|Non-current liabilities:|||
|Insurance contract provision|||
|Long-term loans|993,978,153.39|1,193,978,153.39|
|Bond payable|||
|Including: preferred stock|||
|Perpetual bond|||
|Lease liabilities|||
|Long-term payable|||
|Long-term employees’ wage payable|||
|Anticipated liabilities|7,762,939.83|6,831,162.99|
|Deferred earning|10,274,011.31|10,401,161.30|
|Deferred income tax liabilities|1,045,368,656.06|1,042,086,700.35|
|Other non-current liabilities|||
|Total of non-current liabilities|2,057,383,760.59|2,253,297,178.03|
|Total liabilities|5,685,940,740.44|5,463,666,511.85|

China Fangda Group Co., Ltd. 2019 Q1 Report
||||
|-|-|-|
|Owner’s equity:|||
|Share capital|1,123,384,189.00|1,155,481,686.00|
|Other equity tools|||
|Including: preferred stock|||
|Perpetual bond|||
|Capital reserves|1,454,191.59|1,454,191.59|
|Less: Shares in stock||10,831,437.66|
|Other miscellaneous income|3,052,044.74|7,382,087.59|
|Special reserves|||
|Surplus reserves|54,042,195.07|120,475,221.40|
|Common risk provisions|||
|Retained profit|3,782,718,888.83|3,921,225,872.96|
|Total of owner’s equity belong to the|||
||4,964,651,509.23|5,195,187,621.88|
|parent company|||
|Minor shareholders’ equity|||
|Total of owners’ equity|4,964,651,509.23|5,195,187,621.88|
|Total of liabilities and owner’s interest|10,650,592,249.67|10,658,854,133.73|

 Legal representative: Xiong Jianming CFO: Lin Kebing Accounting Manager: Wu Bohua
2. Balance Sheet of the Parent Company
In RMB
||||
|-|-|-|
|Item|March 31, 2019|December 31, 2018|
|Current asset:|||
|Monetary capital|486,430,783.14|410,118,157.55|
|Transactional financial assets|||
|Financial assets measured at fair|||
|value with variations accounted into|||
|current income account|||
|Derivative financial assets|||
|Receivable note and accounts|||
||200,000,000.00|200,471,039.12|
|receivable|||
|Including: receivable notes|200,000,000.00|200,000,000.00|
|Account receivable||471,039.12|
|Prepayment|4,382,073.52|6,733,047.16|

China Fangda Group Co., Ltd. 2019 Q1 Report
||||
|-|-|-|
|Other receivables|1,036,391,923.93|822,543,653.04|
|Including: interest receivable|||
|Dividend receivable|100,000,000.00|100,000,000.00|
|Inventory|||
|Contract assets|||
|Assets held for sales|||
|Non-current assets due in 1 year|||
|Other current assets|716,922.84|919,388.18|
|Total current assets|1,727,921,703.43|1,440,785,285.05|
|Non-current assets:|||
|Debt investment|||
|Sellable financial assets||21,674,008.23|
|Other debt investment|||
|Investment held until mature|||
|Long-term receivable|||
|Long-term share equity investment|983,339,494.35|983,339,494.35|
|Investment in other equity tools|21,674,008.23||
|Other non-current financial assets|||
|Investment real estate|309,189,866.37|309,189,866.37|
|Fixed assets|53,256,576.04|53,784,811.23|
|Construction in process|||
|Productive biological assets|||
|Gas & petrol|||
|Use right assets|||
|Intangible assets|2,044,566.88|2,112,301.97|
|R&D expense|||
|Goodwill|||
|Long-term amortizable expenses|847,499.66|917,499.68|
|Deferred income tax assets|36,267,056.09|34,555,598.81|
|Other non-current assets|||
|Total of non-current assets|1,406,619,067.62|1,405,573,580.64|
|Total of assets|3,134,540,771.05|2,846,358,865.69|
|Current liabilities|||
|Short-term loans|500,000,000.00|200,000,000.00|

China Fangda Group Co., Ltd. 2019 Q1 Report
||||
|-|-|-|
|Transactional financial liabilities|||
|Financial liabilities measured at fair|||
|value with variations accounted into|||
|current income account|||
|Derivative financial liabilities|||
|Payable notes and accounts|606,941.85|676,941.85|
|Prepayment received|694,791.63|733,274.16|
|Contract liabilities|||
|Employees’ wage payable|992,194.04|2,145,763.39|
|Taxes payable|505,047.04|341,004.65|
|Other payables|507,603,551.39|300,006,406.51|
|Including: interest payable|981,915.27|740,208.33|
|Dividend payable|||
|Liabilities held for sales|||
|Non-current liabilities due in 1 year|200,000,000.00||
|Other current liabilities|||
|Total current liabilities|1,210,402,525.95|503,903,390.56|
|Non-current liabilities:|||
|Long-term loans|400,000,000.00|500,000,000.00|
|Bond payable|||
|Including: preferred stock|||
|Perpetual bond|||
|Lease liabilities|||
|Long-term payable|||
|Long-term employees’ wage payable|||
|Anticipated liabilities|||
|Deferred earning|||
|Deferred income tax liabilities|64,080,311.72|64,130,617.41|
|Other non-current liabilities|||
|Total of non-current liabilities|464,080,311.72|564,130,617.41|
|Total liabilities|1,674,482,837.67|1,068,034,007.97|
|Owner’s equity:|||
|Share capital|1,123,384,189.00|1,155,481,686.00|
|Other equity tools|||
|Including: preferred stock|||

China Fangda Group Co., Ltd. 2019 Q1 Report
||||
|-|-|-|
|Perpetual bond|||
|Capital reserves|360,835.52|360,835.52|
|Less: Shares in stock||10,831,437.66|
|Other miscellaneous income|3,590,127.88|8,756,553.46|
|Special reserves|||
|Surplus reserves|54,042,195.07|120,475,221.40|
|Retained profit|278,680,585.91|504,081,999.00|
|Total of owners’ equity|1,460,057,933.38|1,778,324,857.72|
|Total of liabilities and owner’s interest|3,134,540,771.05|2,846,358,865.69|

 3. Consolidated Income Statement
In RMB
||||
|-|-|-|
|Item|Amount occurred in the current period|Occurred in previous period|
|1. Total revenue|670,452,093.70|650,032,997.33|
|Incl. Business income|670,452,093.70|650,032,997.33|
|Interest income|||
|Insurance fee earned|||
|Fee and commission received|||
|2. Total business cost|586,532,424.53|528,787,371.03|
|Incl. Business cost|467,237,374.40|398,153,159.63|
|Interest expense|||
|Fee and commission paid|||
|Insurance discharge payment|||
|Net claim amount paid|||
|Net insurance policy reserves|||
|provided|||
|Insurance policy dividend paid|||
|Reinsurance expenses|||
|Taxes and surcharges|33,241,693.55|57,107,989.44|
|Sales expense|12,854,606.25|9,988,975.74|
|Administrative expense|48,521,803.12|37,182,042.44|
|R&D cost|4,150,525.60|3,638,625.75|
|Financial expenses|24,040,788.16|19,744,665.08|
|Including: interest cost|18,523,514.10|15,732,959.05|

China Fangda Group Co., Ltd. 2019 Q1 Report
||||
|-|-|-|
|Interest income|1,220,042.73|1,783,355.11|
|Asset impairment loss||2,971,912.96|
|Credit impairment loss|-3,514,366.55||
|Add: other gains|2,764,802.92|2,330,454.12|
|Investment gains (“-” for loss)|2,241,105.98|6,728,202.21|
|Incl. Investment gains from affiliates|||
||-530,564.20|-1,547,820.36|
|and joint ventures|||
|Exchange gains ("-" for loss)|||
|Net open hedge gains (“-” for loss)|||
|Gains from change of fair value|||
|||-58,700.00|
|(“-“ for loss)|||
|Investment gains ("-" for loss)|-18,130.72|59,007.69|
|3. Operational profit ("-" for loss)|88,907,447.35|130,304,590.32|
|Plus: non-operational income|875,385.81|1,641,111.57|
|Less: non-operational expenditure|271,123.59|67,053.56|
|4. Gross profit ("-" for loss)|89,511,709.57|131,878,648.33|
|Less: Income tax expenses|19,513,176.48|33,501,097.89|
|5. Net profit ("-" for net loss)|69,998,533.09|98,377,550.44|
|(1) By operating consistency|||
|1. Net profit from continuous operation ("-"|||
||69,998,533.09|98,377,550.44|
|for net loss)|||
|2. Net profit from discontinuous operation|||
|("-" for net loss)|||
|(2) By ownership|||
|1. Net profit attributable to the owners of|||
||69,998,533.09|98,377,550.44|
|parent company|||
|2. Minor shareholders’ equity|||
|6. After-tax net amount of other misc. incomes|836,382.73|-6,598,862.36|
|After-tax net amount of other misc. incomes|||
||836,382.73|-6,598,862.36|
|attributed to parent's owner|||
|(1) Other misc. incomes that cannot be|||
|re-classified into gain and loss|||
|1. Re-measure the change in the|||
|defined benefit plan|||
|2. Other comprehensive income that|||
|cannot be transferred to profit or loss under the|||

China Fangda Group Co., Ltd. 2019 Q1 Report
||||
|-|-|-|
|equity method|||
|3. Fair value change of investment|||
|in other equity tools|||
|4. Fair value change of the|||
|company's credit risk|||
|5. Others|||
|(2) Other misc. incomes that will be|||
||836,382.73|-6,598,862.36|
|re-classified into gain and loss|||
|1. Other comprehensive income that|||
|can be transferred to profit or loss under the|||
|equity method|||
|2. Fair value change of other debt|||
|investment|||
|3. Change in the fair value of|||
|financial asset for sale|||
|4. Gains and losses from changes in|||
|fair value of available-for-sale financial assets|||
|5. Held-to-mature investment|||
|reclassified as gain and loss in the financial|||
|assets for sales|||
|6. Other credit investment credit|||
|impairment provisions|||
|7. Cash flow hedge reserve|1,029,625.00|-6,514,470.00|
|8. Translation difference of foreign|||
||-193,242.27|-84,392.36|
|exchange statement|||
|9. Others|||
|After-tax net of other misc. income attributed|||
|to minority shareholders|||
|7. Total of misc. incomes|70,834,915.82|91,778,688.08|
|Total of misc. incomes attributable to the|||
||70,834,915.82|91,778,688.08|
|owners of the parent company|||
|Total misc gains attributable to the minor|||
|shareholders|||
|8. Earnings per share:|||
|(1) Basic earnings per share|0.06|0.08|
|(2) Diluted earnings per share|0.06|0.08|

Net profit contributed by entities merged under common control in the report period was RMB0.00, net profit realized by parties
merged during the previous period is RMB0.00.
China Fangda Group Co., Ltd. 2019 Q1 Report Legal representative: Xiong Jianming CFO: Lin Kebing Accounting Manager: Wu Bohua
4. Income Statement of the Parent Company
In RMB
||||
|-|-|-|
|Item|Amount occurred in the current period|Occurred in previous period|
|1. Turnover|9,808,576.55|7,377,165.13|
|Less: Operation cost|2,950,845.09|162,820.81|
|Taxes and surcharges|323,222.03|47,689.87|
|Sales expense|||
|Administrative expense|6,952,633.68|5,079,218.61|
|R&D cost|||
|Financial expenses|8,008,968.34|2,247,754.36|
|Including: interest cost|6,297,956.94|3,047,141.01|
|Interest income|241,185.83|797,849.60|
|Asset impairment loss||-114.99|
|Credit impairment loss|-4,480.08||
|Add: other gains|200,000.00|100,000.00|
|Investment gains (“-” for loss)|982,583.57|1,476,812.48|
|Incl. Investment gains from|||
|affiliates and joint ventures|||
|Net open hedge gains (“-” for|||
|loss)|||
|Gains from change of fair|||
|value (“-“ for loss)|||
|Investment gains ("-" for loss)|||
|2. Operational profit (“-” for loss)|-7,240,028.94|1,416,608.95|
|Plus: non-operational income|8,947.57|2,300.00|
|Less: non-operational expenditure|6,388.64||
|3. Gross profit (“-” for loss)|-7,237,470.01|1,418,908.95|
|Less: Income tax expenses|-1,789,154.52|415,478.32|
|4. Net profit (“-” for net loss)|-5,448,315.49|1,003,430.63|
|(1) Net profit from continuous|||
||-5,448,315.49|1,003,430.63|
|operation ("-" for net loss)|||
|(2) Net profit from discontinuous|||
|operation ("-" for net loss)|||

China Fangda Group Co., Ltd. 2019 Q1 Report
||||
|-|-|-|
|5. After-tax net amount of other misc.|||
|incomes|||
|(1) Other misc. incomes that|||
|cannot be re-classified into gain and|||
|loss|||
|1. Re-measure the change|||
|in the defined benefit plan|||
|2. Other comprehensive|||
|income that cannot be transferred to|||
|profit or loss under the equity method|||
|3. Fair value change of|||
|investment in other equity tools|||
|4. Fair value change of the|||
|company's credit risk|||
|5. Others|||
|(2) Other misc. incomes that will|||
|be re-classified into gain and loss|||
|1. Other comprehensive|||
|income that can be transferred to profit|||
|or loss under the equity method|||
|2. Fair value change of|||
|other debt investment|||
|3. Change in the fair value|||
|of financial asset for sale|||
|4. Gains and losses from|||
|changes in fair value of|||
|available-for-sale financial assets|||
|5. Held-to-mature|||
|investment reclassified as gain and loss|||
|in the financial assets for sales|||
|6. Other credit investment|||
|credit impairment provisions|||
|7. Cash flow hedge reserve|||
|8. Translation difference of|||
|foreign exchange statement|||
|9. Others|||
|6. Total of misc. incomes|-5,448,315.49|1,003,430.63|
|7. Earnings per share:|||

China Fangda Group Co., Ltd. 2019 Q1 Report
||
|-|
|(1) Basic earnings per share|
|(2) Diluted earnings per share|

5. Consolidated Cash Flow Statement
In RMB
||||
|-|-|-|
|Item|Amount occurred in the current period|Occurred in previous period|
|1. Net cash flow from business|||
|operations:|||
|Cash received from sales of|||
||598,615,290.91|663,119,560.92|
|products and providing of services|||
|Net increase of customer deposits|||
|and capital kept for brother company|||
|Net increase of loans from central|||
|bank|||
|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|||
|Increase in proposal of financial|||
|assets measured at fair value with|||
|variations accounted into current|||
|income account|||
|Cash received as interest,|||
|processing fee, and commission|||
|Net increase of inter-bank fund|||
|received|||
|Net increase of repurchasing|||
|business|||
|Net cash received from trading|||
|securities|||
|Tax refunded|901,931.07|422,809.19|
|Other cash received from business|||
||21,534,849.71|194,722,039.64|
|operation|||
|Sub-total of cash inflow from business|621,052,071.69|858,264,409.75|

China Fangda Group Co., Ltd. 2019 Q1 Report
||||
|-|-|-|
|operations|||
|Cash paid for purchasing products|||
||557,177,871.33|559,325,123.89|
|and services|||
|Net increase of client trade and|||
|advance|||
|Net increase of savings in central|||
|bank and brother company|||
|Cash paid for original contract|||
|claim|||
|Net increase in financial assets|||
|held for trading purposes|||
|Net increase in funds dismantled|||
|Cash paid for interest, processing|||
|fee and commission|||
|Cash paid for policy dividend|||
|Cash paid to and for the staff|92,365,794.06|79,300,919.33|
|Taxes paid|70,963,606.86|55,517,226.34|
|Other cash paid for business|||
||196,782,535.40|204,744,773.26|
|activities|||
|Sub-total of cash outflow from|||
||917,289,807.65|898,888,042.82|
|business operations|||
|Cash flow generated by business|||
||-296,237,735.96|-40,623,633.07|
|operations, net|||
|2. Cash flow generated by investment:|||
|Cash received from investment|||
||973,200,000.00|1,873,000,000.00|
|recovery|||
|Cash received as investment profit|2,771,670.18|8,015,145.87|
|Net cash retrieved from disposal|||
|of fixed assets, intangible assets, and|13,225,019.48|360.00|
|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 generated|||
||989,196,689.66|1,881,015,505.87|
|from investment|||
|Cash paid for construction of|||
||49,192,556.62|21,487,326.27|
|fixed assets, intangible assets and other|||

China Fangda Group Co., Ltd. 2019 Q1 Report
||||
|-|-|-|
|long-term assets|||
|Cash paid as investment|1,193,400,000.00|2,091,800,000.00|
|Net increase of loan against|||
|pledge|||
|Net cash paid for acquiring|||
|subsidiaries and other operational units|||
|Other cash paid for investment|||
|Subtotal of cash outflows|1,242,592,556.62|2,113,287,326.27|
|Cash flow generated by investment|||
||-253,395,866.96|-232,271,820.40|
|activities, net|||
|3. Cash flow generated by financing|||
|activities:|||
|Cash received from investment|||
|Incl. Cash received from|||
|investment attracted by subsidiaries|||
|from minority shareholders|||
|Cash received from borrowed|||
||600,000,000.00|148,000,000.00|
|loans|||
|Cash received from bond placing|||
|Other cash received from|||
||39,406.61||
|financing activities|||
|Subtotal of cash inflow from financing|||
||600,039,406.61|148,000,000.00|
|activities|||
|Cash paid to repay debts|58,000,000.00|100,000,000.00|
|Cash paid as dividend, profit, or|||
||249,442,954.36|18,746,403.48|
|interests|||
|Incl. Dividend and profit paid by|||
|subsidiaries to minority shareholders|||
|Other cash paid for financing|||
|activities|||
|Subtotal of cash outflow from|||
||307,442,954.36|118,746,403.48|
|financing activities|||
|Net cash flow generated by financing|||
||292,596,452.25|29,253,596.52|
|activities|||
|4. Influence of exchange rate changes|||
||-844,162.82|-1,891,037.80|
|on cash and cash equivalents|||
|5. Net increase in cash and cash|||
||-257,881,313.49|-245,532,894.75|
|equivalents|||

China Fangda Group Co., Ltd. 2019 Q1 Report
||||
|-|-|-|
|Plus: Balance of cash and cash|||
||956,190,890.68|931,285,535.55|
|equivalents at the beginning of term|||
|6. Balance of cash and cash equivalents|||
||698,309,577.19|685,752,640.80|
|at the end of the period|||

6. Cash Flow Statement of the Parent Company
In RMB
||||
|-|-|-|
|Item|Amount occurred in the current period|Occurred in previous period|
|1. Net cash flow from business|||
|operations:|||
|Cash received from sales of|||
||7,829,887.29|140,521,112.40|
|products and providing of services|||
|Tax refunded|||
|Other cash received from business|||
||857,398,618.28|454,176,095.73|
|operation|||
|Sub-total of cash inflow from business|||
||865,228,505.57|594,697,208.13|
|operations|||
|Cash paid for purchasing products|||
||1,486,439.86|117,995.70|
|and services|||
|Cash paid to and for the staff|5,580,350.62|4,310,306.35|
|Taxes paid|802,896.19|1,200,412.23|
|Other cash paid for business|||
||863,556,002.15|725,018,532.50|
|activities|||
|Sub-total of cash outflow from|||
||871,425,688.82|730,647,246.78|
|business operations|||
|Cash flow generated by business|||
||-6,197,183.25|-135,950,038.65|
|operations, net|||
|2. Cash flow generated by investment:|||
|Cash received from investment|||
||518,000,000.00|942,880,000.00|
|recovery|||
|Cash received as investment profit|982,583.57|2,496,812.48|
|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|||

China Fangda Group Co., Ltd. 2019 Q1 Report
||||
|-|-|-|
|received|||
|Sub-total of cash inflow generated|||
||518,982,583.57|945,376,812.48|
|from investment|||
|Cash paid for construction of|||
|fixed assets, intangible assets and other|18,000.00|415,830.00|
|long-term assets|||
|Cash paid as investment|518,000,000.00|1,040,870,000.00|
|Net cash paid for acquiring|||
|subsidiaries and other operational units|||
|Other cash paid for investment|||
|Subtotal of cash outflows|518,018,000.00|1,041,285,830.00|
|Cash flow generated by investment|||
||964,583.57|-95,909,017.52|
|activities, net|||
|3. Cash flow generated by financing|||
|activities:|||
|Cash received from investment|||
|Cash received from borrowed|||
||400,000,000.00|140,000,000.00|
|loans|||
|Cash received from bond placing|||
|Other cash received from|||
||39,406.61||
|financing activities|||
|Subtotal of cash inflow from financing|||
||400,039,406.61|140,000,000.00|
|activities|||
|Cash paid to repay debts|||
|Cash paid as dividend, profit, or|||
||230,221,221.83|2,060,208.34|
|interests|||
|Other cash paid for financing|||
|activities|||
|Subtotal of cash outflow from|||
||230,221,221.83|2,060,208.34|
|financing activities|||
|Net cash flow generated by financing|||
||169,818,184.78|137,939,791.66|
|activities|||
|4. Influence of exchange rate changes|||
||576.24||
|on cash and cash equivalents|||
|5. Net increase in cash and cash|||
||164,586,161.34|-93,919,264.51|
|equivalents|||
|Plus: Balance of cash and cash|||
||281,594,621.80|310,049,329.68|
|equivalents at the beginning of term|||

China Fangda Group Co., Ltd. 2019 Q1 Report
||||
|-|-|-|
|6. Balance of cash and cash equivalents|||
||446,180,783.14|216,130,065.17|
|at the end of the period|||

II. Financial Statement Adjustment
1. The first implementation of the new financial instruments guidelines, new income standards, new lease standards, adjustments the first implementation of the financial statements at the beginning of the year√ Applicable□ Inapplicable
Consolidated Balance Sheet
In RMB
|||||
|-|-|-|-|
|Item|December 31, 2018|January 1, 2019|Adjustment|
|Current asset:||||
|Monetary capital|1,389,062,083.76|1,389,062,083.76||
|Receivable note and|2,060,214,724.69|||
|||2,072,905,381.88|12,690,657.19|
|accounts receivable||||
|Including: receivable|140,139,692.84|||
|||140,139,692.84||
|notes||||
|Account|1,920,075,031.85|||
|||1,932,765,689.04|12,690,657.19|
|receivable||||
|Prepayment|46,454,844.74|46,454,844.74||
|Other receivables|139,990,188.26|142,135,200.55|2,145,012.29|
|Inventory|651,405,832.29|651,405,832.29||
|Other current assets|51,698,111.14|51,698,111.14||
|Total current assets|4,338,825,784.88|4,353,661,454.36|14,835,669.48|
|Non-current assets:||||
|Sellable financial assets|21,674,008.23|Inapplicable|-21,674,008.23|
|Long-term share equity|70,105,657.88|||
|||70,105,657.88||
|investment||||
|Investment in other||||
||Inapplicable|21,674,008.23|21,674,008.23|
|equity tools||||
|Investment real estate|5,256,442,406.63|5,256,442,406.63||
|Fixed assets|455,274,241.83|455,274,241.83||
|Construction in process|58,269,452.72|58,269,452.72||
|Intangible assets|80,313,240.67|80,313,240.67||
|Long-term amortizable|2,114,331.46|||
|||2,114,331.46||
|expenses||||
|Deferred income tax|356,474,925.76|353,169,011.31|-3,305,914.45|

China Fangda Group Co., Ltd. 2019 Q1 Report
|||||
|-|-|-|-|
|assets||||
|Other non-current assets|19,360,083.67|19,360,083.67||
|Total of non-current assets|6,320,028,348.85|6,316,722,434.40|-3,305,914.45|
|Total of assets|10,658,854,133.73|10,670,383,888.76|11,529,755.03|
|Current liabilities||||
|Short-term loans|208,000,000.00|208,000,000.00||
|Derivative financial|1,625,725.00|||
|||1,625,725.00||
|liabilities||||
|Payable notes and|1,547,495,316.83|||
|||1,547,495,316.83||
|accounts||||
|Prepayment received|278,577,848.54|278,577,848.54||
|Employees’ wage|44,513,062.17|||
|||44,513,062.17||
|payable||||
|Taxes payable|107,709,999.19|107,709,999.19||
|Other payables|813,118,699.84|813,118,699.84||
|Including: interest|2,098,971.44|||
|||2,098,971.44||
|payable||||
|Non-current liabilities|200,000,000.00|||
|||200,000,000.00||
|due in 1 year||||
|Other current liabilities|9,328,682.25|9,328,682.25||
|Total current liabilities|3,210,369,333.82|3,210,369,333.82||
|Non-current liabilities:||||
|Long-term loans|1,193,978,153.39|1,193,978,153.39||
|Anticipated liabilities|6,831,162.99|6,831,162.99||
|Deferred earning|10,401,161.30|10,401,161.30||
|Deferred income tax|1,042,086,700.35|||
|||1,042,086,700.35||
|liabilities||||
|Total of non-current|2,253,297,178.03|||
|||2,253,297,178.03||
|liabilities||||
|Total liabilities|5,463,666,511.85|5,463,666,511.85||
|Owner’s equity:||||
|Share capital|1,155,481,686.00|1,155,481,686.00||
|Capital reserves|1,454,191.59|1,454,191.59||
|Less: Shares in stock|10,831,437.66|10,831,437.66||
|Other miscellaneous|7,382,087.59|||
|||2,215,662.01|-5,166,425.58|
|income||||

China Fangda Group Co., Ltd. 2019 Q1 Report
|||||
|-|-|-|-|
|Surplus reserves|120,475,221.40|121,000,081.43|524,860.03|
|Retained profit|3,921,225,872.96|3,937,397,193.54|16,171,320.58|
|Total of owner’s equity|5,195,187,621.88|||
|||5,206,717,376.91|11,529,755.03|
|belong to the parent company||||
|Total of owners’ equity|5,195,187,621.88|5,206,717,376.91|11,529,755.03|
|Total of liabilities and|10,658,854,133.73|||
|||10,670,383,888.76|11,529,755.03|
|owner’s interest||||

About the adjustment
In 2017, the Ministry of Finance revised and released the "Accounting Standards for Business Enterprises No. 22 - Recognition and Measurement of Financial Instruments", "Accounting Standards for Business Enterprises No. 23 - Transfer of Financial Assets", "Accounting Standards for Business Enterprises No. 24 - Hedge Accounting", "Accounting Standards for Business Enterprises No. 37 - Financial Instruments Presentation" (hereinafter collectively referred to as the "New Financial Instruments Standards") and requires enterprises listed in China to implement the above accounting standards from January 1, 2019.
In accordance with the above requirements, the Company will implement the new financial instrument standard from January 1, 2019 and reclassify the original financial assets into transactional financial assets, derivative financial assets, other equity instrument investments and other non-current financial assets. Non-transaction equity instrument investment is designated as financial assets measured at fair value through other comprehensive income and is presented in “other equity instrument investment” items. At the same time, the loss provision prepared by the original financial instrument standard is adjusted to be in accordance with the new financial instrument. According to the regulations, it is not necessary to repeat the data of the 2018 comparative period when preparing the report for each period of 2019, but it is necessary to make retrospective adjustments to the retained earnings or other comprehensive income at the beginning of 2019.
Balance Sheet of the Parent Company
In RMB
|||||
|-|-|-|-|
|Item|December 31, 2018|January 1, 2019|Adjustment|
|Current asset:||||
|Monetary capital|410,118,157.55|410,118,157.55||
|Receivable note and|200,471,039.12|||
|||200,479,634.37|8,595.25|
|accounts receivable||||
|Including: receivable|200,000,000.00|||
|||200,000,000.00||
|notes||||
|Account|471,039.12|||
|||479,634.37|8,595.25|
|receivable||||
|Prepayment|6,733,047.16|6,733,047.16||
|Other receivables|822,543,653.04|822,644,623.99|100,970.95|
|Dividend|100,000,000.00|||
|||100,000,000.00||
|receivable||||
|Other current assets|919,388.18|919,388.18||
|Total current assets|1,440,785,285.05|1,440,894,851.25|109,566.20|
|Non-current assets:||||

China Fangda Group Co., Ltd. 2019 Q1 Report
|||||
|-|-|-|-|
|Sellable financial assets|21,674,008.23|Inapplicable|-21,674,008.23|
|Long-term share equity|983,339,494.35|||
|||983,339,494.35||
|investment||||
|Investment in other||||
||Inapplicable|21,674,008.23|21,674,008.23|
|equity tools||||
|Investment real estate|309,189,866.37|309,189,866.37||
|Fixed assets|53,784,811.23|53,784,811.23||
|Intangible assets|2,112,301.97|2,112,301.97||
|Long-term amortizable|917,499.68|||
|||917,499.68||
|expenses||||
|Deferred income tax|34,555,598.81|||
|||34,528,207.26|-27,391.55|
|assets||||
|Total of non-current assets|1,405,573,580.64|1,405,546,189.09|-27,391.55|
|Total of assets|2,846,358,865.69|2,846,441,040.34|82,174.65|
|Current liabilities||||
|Short-term loans|200,000,000.00|200,000,000.00||
|Payable notes and|676,941.85|||
|||676,941.85||
|accounts||||
|Prepayment received|733,274.16|733,274.16||
|Employees’ wage|2,145,763.39|||
|||2,145,763.39||
|payable||||
|Taxes payable|341,004.65|341,004.65||
|Other payables|300,006,406.51|300,006,406.51||
|Including: interest|740,208.33|||
|||740,208.33||
|payable||||
|Total current liabilities|503,903,390.56|503,903,390.56||
|Non-current liabilities:||||
|Long-term loans|500,000,000.00|500,000,000.00||
|Deferred income tax|64,130,617.41|||
|||64,130,617.41||
|liabilities||||
|Total of non-current|564,130,617.41|||
|||564,130,617.41||
|liabilities||||
|Total liabilities|1,068,034,007.97|1,068,034,007.97||
|Owner’s equity:||||
|Share capital|1,155,481,686.00|1,155,481,686.00||
|Capital reserves|360,835.52|360,835.52||

China Fangda Group Co., Ltd. 2019 Q1 Report
|||||
|-|-|-|-|
|Less: Shares in stock|10,831,437.66|10,831,437.66||
|Other miscellaneous|8,756,553.46|||
|||3,590,127.88|-5,166,425.58|
|income||||
|Surplus reserves|120,475,221.40|121,000,081.43|524,860.03|
|Retained profit|504,081,999.00|508,805,739.20|4,723,740.20|
|Total of owners’ equity|1,778,324,857.72|1,778,407,032.37|82,174.65|
|Total of liabilities and|2,846,358,865.69|||
|||2,846,441,040.34|82,174.65|
|owner’s interest||||

About the adjustment
In 2017, the Ministry of Finance revised and released the "Accounting Standards for Business Enterprises No. 22 - Recognition and Measurement of Financial Instruments", "Accounting Standards for Business Enterprises No. 23 - Transfer of Financial Assets", "Accounting Standards for Business Enterprises No. 24 - Hedge Accounting", "Accounting Standards for Business Enterprises No. 37 - Financial Instruments Presentation" (hereinafter collectively referred to as the "New Financial Instruments Standards") and requires enterprises listed in China to implement the above accounting standards from January 1, 2019.
In accordance with the above requirements, the Company will implement the new financial instrument standard from January 1, 2019 and reclassify the original financial assets into transactional financial assets, derivative financial assets, other equity instrument investments and other non-current financial assets. Non-transaction equity instrument investment is designated as financial assets measured at fair value through other comprehensive income and is presented in “other equity instrument investment” items. At the same time, the loss provision prepared by the original financial instrument standard is adjusted to be in accordance with the new financial instrument. According to the regulations, it is not necessary to repeat the data of the 2018 comparative period when preparing the report for each period of 2019, but it is necessary to make retrospective adjustments to the retained earnings or other comprehensive income at the beginning of 2019.
2. Description of the first implementation of the new financial instrument criteria, new lease standard retrospective adjustment of the previous period comparison data
□ Applicable√ Inapplicable
3.Auditor’s Report
Whether the Q1 report is audited
□ Yes√ No
The Q2 Report is not audited.
China Fangda Group Co., Ltd.
Legal representative: Xiong Jianming April 23, 2019