SHENZHEN CHIWAN PETROLEUM SUPPLY BASE CO., LTD.
FULL TEXT OF FIRST QUARTERLY REPORT OF 2016 Part I Important Notice
The directors, supervisors and senior management guarantee that there are no omissions, misstatement, or misleading information in this quarterly report. The directors, supervisors and senior management are responsible, individually and jointly, for the authenticity, accuracy and integrity of the information herein.
All directors attended the board meeting.
Mr. Tian Junyan, Chairman of the Board, Mdm. Yu Zhongxia, Deputy General Manager&Financial Controller and Mdm. Sun Yuhui, Financial Manager, all guarantee the authenticity and integrity of the financial result in this report.
The report is written in both Chinese and English. In case of conflict between the two versions, Chinese version shall prevail.
PART II Major Accounting Data and Change of ShareholdersⅠ. Major Accounting Data
|||||
|-|-|-|-|
||January to March, 2016|January to March, 2015|Change（%）|
|Operating Revenue(RMB)|164,424,597.76|147,824,556.91|11.23%|
|Net Profit Attributed to Shareholders of Listed|9,311,019.07|||
|||22,604,615.62|-58.81%|
|Company (RMB)||||
|Net Profit after Deducting Non-recurring Gains||||
||8,553,393.49|21,078,656.96|-59.42%|
|&Losses(RMB)||||
|Net Cash Flows from Operating|74,546,903.86|||
|||78,023,735.31|-4.46%|
|Activities(RMB)||||
|Basic Earnings per Share (RMB/Share)|0.04|0.10|-60.00%|
|Diluted Earnings per Share (RMB/Share)|0.04|0.10|-60.00%|
|Weighted Average Return on Equity（%）|0.53%|1.33%|-0.80%|
||March 31, 2016|December 31, 2015|Change（%）|
|Total Assets(RMB)|6,531,641,866.64|5,643,956,639.17|15.73%|
|Owner‟s Equity Attributed to Shareholders of|1,763,599,152.91|||
|||1,754,085,176.85|0.54%|
|Listed Company(RMB)||||

Items of Non-recurring Gains and Losses
√ Applicable□Inapplicable
||||
|-|-|-|
|Item|Amount|Note|
|Disposal of non-current assets, including the part offset|||
||22,782.65||
|with the provision for impairment of assets|||
|Government grants recognized in current profit or loss|||
|(except for the fixed or quantitative government grants|||
||1,039,203.12||
|closely related to the enterprise businesses according to|||
|the national unified standard)|||
|Other non-operating revenue and expenditure excluding|||
||177,119.54||
|the above-mentioned items|||
|Less: Influence on income tax|310,626.94||
|Influence on minority interest (after tax)|170,852.79||
|Total|757,625.58|--|

For theCompany„s non-recurring gain/loss items as defined in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering their Securities to the Public– Non-recurring Gains and Losses and its non-recurring gain/loss items as illustrated in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering their Securities to the Public– Non-recurring Gains and Losses which have been defined as recurring gains and losses, it is necessary to explain the reason.
□ Applicable√ Inapplicable
II. Total Number of Shareholders and Top Ten Shareholders at the End of Report Period 1. Numbers of Common Shareholders and Preference Shareholders with Resumed Voting Rights as well as Shareholdings of Top Ten Shareholders
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
|||Total Number of Preference Shareholders with Resumed Voting|||||||||
|Total shareholders in reporting period|6,971|||||||||0|
|||Rights at Period-end (if any||||)|||||
|Top Ten Common Shareholders|||||||||||
|||||||||Impawned or Frozen|||
||||Ratio||Total shares||Non-tradable||||
|Name|Nature|||||||Shares|||
||||（％）||held||shares||||
|||||||||Status||Shares|
|CHINA NANSHAN DEVELOPMENT(GROUP) INCORPORATION|Domestic LegalPerson||51.79%||119,420,000||119,420,000||||
|||||||||-||0|
|China Logistics Holding (12) PTE.LTD.|Foreign LegalPerson||19.90%||45,890,000||0||||
|||||||||-||Unknown|
|CHINA MECHANTS SECURITIES(HONGKONG) LTD|State-owned LegalPerson||1.61%||3,717,134||0||||
|||||||||-||Unknown|
|CREDIT SUISSE (HONG KONG)LIMITED|Foreign LegalPerson||1.15%||2,653,799||0||||
|||||||||-||Unknown|
|GUOTAI JUNANSECURITIES(HONGKONG) LIMITED|Foreign LegalPerson||0.93%||2,133,542||0||||
|||||||||-||Unknown|
|GREENWOODS CHINA ALPHAMASTER FUND|Foreign LegalPerson||0.43%||984,693||0||||
|||||||||-||Unknown|
|LI WEI|Domestic NaturalPerson||0.28%||636,000||0||||
|||||||||-||Unknown|
|SHA SHU LI|Domestic NaturalPerson||0.21%||480,611||0||||
|||||||||-||Unknown|
|YU LING FENG|Foreign NaturalPerson||0.20%||458,083||0||||
|||||||||-||Unknown|
|PAN BO|Domestic NaturalPerson||0.18%||420,300||0||||
|||||||||-||Unknown|
|Top Ten Tradable Shareholders|||||||||||
||||||||Type||||
|Name||||Shares Held|||||||
||||||||Type||Shares||
|China Logistics Holding (12) PTE.LTD.||||45,890,000|||B||45,890,000||
|CHINA MECHANTS SECURITIES (HONGKONG) LTD||||3,717,134|||B||3,717,134||
|CREDIT SUISSE (HONG KONG) LIMITED||||2,653,799|||B||2,653,799||
|GUOTAI JUNAN SECURITIES(HONGKONG) LIMITED||||2,133,542|||B||2,133,542||
|GREENWOODS CHINA ALPHA MASTER FUND||||984,693|||B||984,693||
|LI WEI||||636,000|||B||636,000||
|SHA SHU LI||||480,611|||B||480,611||
|YU LING FENG||||458,083|||B||458,083||
|PAN BO||||420,300|||B||420,300||
|LI MING YA||||402,580|||B||402,580||
|||||Among the top ten shareholders, the domestic legal entity|||||||
|||||shareholder, China Nanshan Development (Group)|||||||
|||||Incorporation has no affiliated relations with other|||||||
|Explanation for the Affiliated Relations or United Action of the Top||||shareholders and does not fall into the scope of united action|||||||
|Ten Shareholders||||person stipulated by “Regulation of Information Disclosure|||||||
|||||of the Change of Shareholding of listed company”. It is|||||||
|||||unknown that whether other tradable-share shareholders fall|||||||
|||||into the scope of united action person.|||||||

Whether top ten common shareholders or top ten non-restricted common shareholders appointed repurchase
transaction during reporting period
□ Yes√ No
2. Particulars about Preferred Share
□ Applicable√ Inapplicable
Part III Significant Events
I. Explanation on the Significant Changes for Main Accounting Data and Financial Indicators
Unit: RMB 1st
1st
|||||||
|-|-|-|-|-|-|
|No|Items|1st Quarter of2016/Mar 31, 2016|1st Quarterof 2015/Dec 31, 2015|Change(%)|Causes for Difference|
|1|Cash And Bank Balances|868,615,854.73|321,121,926.73|170.49%|Mainly due to receiving Blogis increasedcapital from Nanshan Group.|
|2|Notes Receivable|12,000,000.00|||Mainly due to Nanjing Baowan receivingbank acceptance.|
|3|Prepayments|3,007,466.02|435,877.51|589.98%|Mainly due to prepaying underwriting feeof medium-term notes.|
|4|Interest Receivable||1,138,739.73|-100.00%|Mainly due to withdrawal of profit offinancial products in last report period.|
|5|Other Receivables|93,582,957.86|58,666,231.60|59.52%|Mainly due to Xi‟an Baowan‟s landprepayment transferring to cash deposit.|
|6|Other Current Assets|25,000,000.00|235,000,000.00|-89.36%|Mainly due to the redemption of financialproducts.|
|7|Disposal of Fixed Assets|72,322.02|||Mainly due to disposal of fixed assets.|
|8|Other Non-Current Assets|488,077,511.78|277,619,704.84|75.81%|Mainly due to the increase of landprepayment.|
|9|Short-term Borrowings|200,000,000.00|300,000,000.00|-33.33%|Mainly due to payment of short-termborrowings.|
|10|Accounts Receivable|6,814,629.10|13,502,745.52|-49.53%|Mainly due to paying rental fee for lastyear.|
|11|Receipts in Advance|6,927,943.95|4,294,109.24|61.34%|Mainly due to receipts in advance ofwarehousing fee by Kunshan Baowan‟sclient.|
|12|Employee BenefitsPayable|14,025,916.25|26,233,258.02|-46.53%|Mainly due to the payment of annualbonus.|
|13|Other Non-CurrentLiabilities|300,000,000.00|6,000,000.00|4900.00%|Mainly due to the increase of borrowingsfrom Nanshan Group.|
|14|Minority Interests|820,166,755.58|317,006,332.01|158.72%|Mainly due to receiving Blogis increasedcapital from Nanshan Group.|
|15|Selling Expenses|521,984.66|260,386.09|100.47%|Mainly due to the increase of agency fee.|
|16|Impairment Losses ofAssets|14,810.26|||Mainly due to provision for bad debts.|
|17|Investment Income|6,047,847.58|17,386,035.41|-65.21%|Mainly due to the decrease ofSembawang‟s profit.|
|18|Non-operating Income|1,314,930.35|2,506,166.09|-47.53%|Mainly due to the decrease ofgovernment subsidies.|
|19|Income Tax Expenses|6,749,297.02|4,875,065.99|38.45%|Mainly due to adjustment of accruedincome tax according to final settlementand payment of enterprise income tax.|
|20|Cash payments for GoodsPurchased and ServicesReceived|37,114,019.69|27,008,442.07|37.42%|Mainly due to payment of rental fee ofeastern costal line and wharf for last year.|
|21|Net cash Receipts fromDisposal of Fixed Assets,Intangible Assets andOther Long-Term Assets|42,812.00|10,100.00|323.88%|Mainly due to disposal of fixed assets.|
|22|Other Cash ReceiptsRelating to InvestingActivities|283,233,575.00|444,887,865.51|-36.34%|Mainly due to the decrease of purchasingfinancial products.|
|23|Cash Payments to Acquireor Construct Fixed Assets,Intangible Assets andOther Long-Term Assets|359,426,925.92|174,500,696.11|105.97%|Mainly due to the increase of landpayment.|

|||||||
|-|-|-|-|-|-|
|24|Cash Payments to AcquireSubsidiaries and OtherBusiness Companies|171,489,525.52|||Mainly due to the acquirement of JinmuCao Ye.|
|25|Other Cash PaymentsRelating to InvestingActivities|61,056,699.50|363,000,000.00|-83.18%|Mainly due to the decrease of purchasingfinancial products.|
|26|Cash Received fromInvesting Activities|498,080,000.00|||Mainly due to receiving Blogis increasedcapital from Nanshan Group.|
|27|Cash Receipts fromBorrowings|101,670,000.00|64,517,851.59|57.58%|Mainly due to the increase ofnewly-added long-term borrowings.|
|28|Other Cash Received fromFinancing Activities|294,000,000.00|||Mainly due to the increase of borrowingsfrom Nanshan Group.|
|29|Cash repayments ofborrowings|103,155,000.00|1,051,000.00|9714.94%|Mainly due to paying back short-termborrowings.|

II. Significant Event and its Impact
√Applicable□Inapplicable
In view of planning significant events, theCompany‟s stock suspended trading on March 7, 2016. On March 21, the Company disclosed announcement of significant asset reorganization. On April 5, the Company disclosed announcement of continuously suspending stock trading. Till now, the Company is actively promoting the work of significant asset reorganization.
||||
|-|-|-|
|Introduction|Disclosure Date|Disclosure Index|
|Suspending Stock Trading forSignificant Event|2016.3.7|www.cninfo.com.cn|
||2016.3.14|www.cninfo.com.cn|
|Significant Asset Reorganization|2016.3.21|www.cninfo.com.cn|
||2016.3.28|www.cninfo.com.cn|
||2016.4.5|www.cninfo.com.cn|
||2016.4.12|www.cninfo.com.cn|
||2016.4.19|www.cninfo.com.cn|
||2016.4.26|www.cninfo.com.cn|

III. Fulfillment of Commitment by Shareholders with More than5% Shares
|||||||
|-|-|-|-|-|-|
|Commit|||Commitment|||
||Promisee|Content||Commitment Period|Status|
|ments|||Time|||
||Nanshan Group|to land use|1997-8-1|25 years|On duty|
|||to resolve payment difficulties in||||
||Nanshan Group||2014-1-6|3 years|On duty|
|||opening the Finance Limited||||
|||to provide regular monthly||||
|Other||||||
||The Company|financial reports to the controlling|2007-10-25|Long term effective|On duty|
|Commit||||||
|||shareholder||||
|ments||||||
|||About the issue of "medium-term||||
||The Company||2012-3-7|5 years|On duty|
|||notes for 2012" Commitment||||
|||About the issue of "12 base debt"||||
||The Company||2013-1-9|7 years|On duty|
|||commitment||||
|Fulfill||||||
|commit||||||
||Yes|||||
|ments||||||
|timely||||||

IV. Prediction of Business Performance for the first half year of 2016
Prediction and explanation on important changes of profit in next report period
□Applicable√ Inapplicable
V. Stock Investment
Stock investment
□Applicable√ Inapplicable
VI. Investment of Financial Derivatives
□Applicable√ Inapplicable
VII. Reception of Investors and Medias
√Applicable□Inapplicable
|||||
|-|-|-|-|
|||Type of||
|Time|Method||Disclosure Index|
|||Visitors||
|2016.1.21|Field Research|Individual|www.cninfo.com.cn on January 22, 2016|

VIII. Illegal Guarantee
□ Applicable√ Inapplicable
IX. Non-operation Oriented Fund Occupancy by the Controlling Shareholder and/or Related Parties□ Applicable√ Inapplicable
Part IV Financial Statements
I. Financial Report
1.Balance Sheet
Consolidated Currency: RMB
||||
|-|-|-|
|Items|Ending Balance|Beginning Balance|
|Current Assets:|||
|Cash and bank balances|868,615,854.73|321,121,926.73|
|Notes receivable|12,000,000.00|-|
|Accounts receivable|48,030,918.35|50,257,814.22|
|Prepayments|3,007,466.02|435,877.51|
|Interest receivable|-|1,138,739.73|
|Dividends receivable|-|-|
|Other receivables|93,582,957.86|58,666,231.60|
|Inventories|865,279.60|914,543.44|
|Other current assets|25,000,000.00|235,000,000.00|
|Total Current Assets|1,051,102,476.56|667,535,133.23|
|Non-current Assets:|-|-|
|Long-term equity investments|574,711,957.21|582,600,360.74|
|Investment properties|1,417,746,209.56|1,425,593,724.71|
|Fixed assets|956,729,518.63|842,722,056.06|
|Construction in progress|434,272,626.15|368,965,477.50|
|Disposal of fixed assets|72,322.02||
|Intangible assets|1,575,944,185.27|1,450,042,826.68|
|Goodwill|-||
|Deferred tax assets|32,985,059.46|28,877,355.41|
|Other non-current assets|488,077,511.78|277,619,704.84|
|Total Non-current Assets|5,480,539,390.08|4,976,421,505.94|
|TOTAL ASSETS|6,531,641,866.64|5,643,956,639.17|
|Current Liabilities:|-|-|
|Short-term borrowings|200,000,000.00|300,000,000.00|
|Accounts payable|6,814,629.10|13,502,745.52|
|Receipts in advance|6,927,943.95|4,294,109.24|
|Employee benefits payable|14,025,916.25|26,233,258.02|
|Taxes payable|23,531,698.00|20,937,276.95|
|Interest payable|30,690,764.15|28,404,479.52|
|Other payables|574,322,820.84|480,066,219.49|
|Non-current liabilities due within oneyear|707,002,353.40|707,396,728.40|
|Other current liabilities|300,000,000.00|6,000,000.00|
|Total Current Liabilities|1,863,316,125.69|1,586,834,817.14|
|Non-current Liabilities:|-|-|
|Long-term borrowings|588,743,625.45|489,834,250.45|
|Bonds payable|967,530,000.00|967,159,500.00|

||||
|-|-|-|
|Long-term payables|251,417,853.31|251,417,853.31|
|Deferred income|50,838,133.15|51,251,151.07|
|Deferred tax liabilites|-||
|Other non-current liabilities|226,030,220.55|226,367,558.34|
|Total Non-current Liabilities|2,084,559,832.46|1,986,030,313.17|
|TOTAL LIABILITIES|3,947,875,958.15|3,572,865,130.31|
|SHAREHOLDERS' EQUITY:|-|-|
|Share capital|230,600,000.00|230,600,000.00|
|Capital reserve|234,141,186.09|234,141,186.09|
|Other comprehensive income|652,079.14|652,079.14|
|Special reserve|6,144,728.47|5,941,771.48|
|Surplus reserve|317,245,288.81|317,245,288.81|
|Unappropriated profits|974,815,870.40|965,504,851.33|
|Total shareholders' equity attributable toequity holders of the Company|1,763,599,152.91|1,754,085,176.85|
|Minority interests|820,166,755.58|317,006,332.01|
|TOTAL SHAREHOLDERS' EQUITY|2,583,765,908.49|2,071,091,508.86|
|TOTAL LIABILITIES ANDSHAREHOLDERS' EQUITY|6,531,641,866.64|5,643,956,639.17|

Legal Representative: Tian Junyan Chief Financial Officer: Yu Zhongxia Financial Manager: Sun Yuhui
2.Balance Sheet
Parent company Currency: RMB
||||
|-|-|-|
|Items|Ending Balance|Beginning Balance|
|Current Assets:|||
|Cash and bank balances|44,015,988.75|28,808,779.96|
|Accounts receivable|18,827,680.29|22,290,192.64|
|Prepayments|1,350,961.62|174,357.15|
|Interest receivable||1,031,342.47|
|Dividends receivable||-|
|Other receivables|10,045,968.17|1,519,389,018.64|
|Inventories|624,339.90|665,307.48|
|Other current assets|25,000,000.00|235,000,000.00|
|Total Current Assets|99,864,938.73|1,807,358,998.34|
|Non-current Assets:||-|
|Long-term equity investments|3,180,257,716.93|1,486,226,120.45|
|Investment properties|120,151,004.19|121,605,608.97|
|Fixed assets|60,246,030.82|62,672,792.29|
|Construction in progress|2,736,283.00|2,600,283.00|
|Intangible assets|288,580,597.45|292,794,849.40|
|Deferred tax assets|13,272,081.67|9,635,782.89|
|Other non-current assets|216,000.00|255,366.60|
|Total non-current assets|3,665,459,714.06|1,975,790,803.60|
|TOTAL ASSETS|3,765,324,652.79|3,783,149,801.94|
|Current Liabilities:||-|
|Short-term borrowings|200,000,000.00|300,000,000.00|
|Accounts payable|6,615,811.00|13,115,420.11|
|Employee benefits payable|10,390,684.56|17,261,742.30|
|Taxes payable|1,818,495.33|2,508,111.41|
|Interest payable|30,398,617.40|28,118,306.33|
|Other payables|69,059,088.21|67,373,561.98|
|Non-current liabilities due within oneyear|701,349,351.16|701,349,351.16|
|Other current liabilities||-|
|Total Current Liabilities|1,019,632,047.66|1,129,726,493.29|
|Non-current Liabilities:||-|
|Long-term borrowings|281,224,302.04|181,224,302.04|
|Bonds payable|967,530,000.00|967,159,500.00|
|Deferred tax liability||-|
|Other non-current liabilities|16,030,220.55|16,367,558.34|
|Total Non-current Liabilities|1,264,784,522.59|1,164,751,360.38|
|TOTAL LIABILITIES|2,284,416,570.25|2,294,477,853.67|
|SHAREHOLDERS' EQUITY:||-|

||||
|-|-|-|
|Share capital|230,600,000.00|230,600,000.00|
|Capital reserve|204,534,849.49|204,534,849.49|
|Special reserve|5,937,415.65|5,775,987.68|
|Surplus reserve|317,245,288.81|317,245,288.81|
|Unappropriated profits|722,590,528.59|730,515,822.29|
|TOTAL SHAREHOLDERS'EQUITY|1,480,908,082.54|1,488,671,948.27|
|TOTAL LIABILITIES ANDSHAREHOLDERS' EQUITY|3,765,324,652.79|3,783,149,801.94|

Legal Representative: Tian Junyan Chief Financial Officer: Yu Zhongxia Financial Manager: Sun Yuhui
3.Income Statements
Consolidated Currency: RMB
||||
|-|-|-|
|Items|Current Period|Same Period Last Year|
|I. Total operating income|164,424,597.76|147,824,556.91|
|Including: Operating income|164,424,597.76|147,824,556.91|
|Less: Total operating costs|150,582,765.73|135,622,593.88|
|Including: Operating costs|71,965,168.10|68,137,919.07|
|Business taxes and levies|9,677,584.67|9,241,038.32|
|Selling expenses|521,984.66|260,386.09|
|General and administrative expenses|25,257,563.56|21,167,031.86|
|Financial expenses|43,145,654.48|36,816,218.54|
|Impairment losses of assets|14,810.26|0.00|
|Add: Investment income|6,047,847.58|17,386,035.41|
|Including: Income from investments in associates andjoint ventures|5,020,395.05|15,904,356.20|
|II. Operating profit|19,889,679.61|29,587,998.44|
|Add: Non-operating income|1,314,930.35|2,506,166.09|
|Including: Gains from disposal of non-current assets|27,777.65|0.00|
|Less: Non-operating expenses|75,825.04|85,398.55|
|Including: Losses from disposal of non-current assets|4,995.00|4,137.29|
|III. Gross profit|21,128,784.92|32,008,765.98|
|Less: Income tax expenses|6,749,297.02|4,875,065.99|
|IV. Net profit|14,379,487.90|27,133,699.99|
|Net profit attributable to owners of the Company|9,311,019.07|22,604,615.62|
|Profit or loss attributable to minority shareholders|5,068,468.83|4,529,084.37|
|V. Post-tax net value of other comprehensive income||-1,095,838.66|
|Post-tax net value of other comprehensive income attributable toowners of the Company||-847,740.79|
|Including: Translation differences arising on translation offinancial statements denominated in foreign currencies||-847,740.79|
|Post-tax net value of other comprehensive income attributable tominority shareholders||-248,097.87|
|VI. Total comprehensive income:|14,379,487.90|26,037,861.33|
|Total comprehensive income attributable to owners of theCompany|9,311,019.07|21,756,874.83|
|Total comprehensive income attributable to minority shareholders|5,068,468.83|4,280,986.50|
|VII. Earnings per share:|||
|(I) Basic earnings per share|0.04|0 .10|
|(II) Diluted earnings per share|Not applicable|Not applicable|

Legal Representative: Tian Junyan Chief Financial Officer: Yu Zhongxia Financial Manager: Sun Yuhui
4.Income Statements
Parent company Currency: RMB
|||||
|-|-|-|-|
|Items||Current Period|Same Period Last Year|
|I. Operating income||33,189,253.37|41,244,801.46|
||Less: Operating costs|21,523,151.84|27,526,838.14|
||Business taxes and levies|1,369,402.67|1,414,233.85|
||General and administrative expenses|10,976,181.41|10,401,190.06|
||Financial expenses|16,921,308.04|15,738,088.12|
||Impairment loss of assets|-35,125.53|0.00|
||Add: Investment income|6,047,847.58|17,330,364.17|
||Including: Income from investments in|5,020,395.05|15,904,356.20|
||associates and joint ventures|||
|II. Operating profit||-11,517,817.48|3,494,815.46|
||Add: Non-operating income|7,225.00|1,533.00|
||Including: Gains from disposal of||0.00|
||non-current assets|||
||Less: Non-operating expenses|51,000.00|0.00|
||Including: Losses from disposal of|1,000.00|0.00|
||non-current assets|||
|III. Gross profit||-11,561,592.48|3,496,348.46|
||Less: Income tax expenses|-3,636,298.78|-3,102,001.93|
|IV. Net profit||-7,925,293.70|6,598,350.39|
|V. Other comprehensive income||||
|VI. Total comprehensive income||-7,925,293.70|6,598,350.39|
|VII. Earnings per share:||||
|(I) Basic earnings per share||Not applicable|Not applicable|
|(II) Diluted earnings per share||Not applicable|Not applicable|

 Legal Representative: Tian Junyan Chief Financial Officer:Yu Zhongxia Financial Manager: Sun Yuhui
5.Cash Flow Statements
Consolidated Currency: RMB
||||
|-|-|-|
|Items|Current Period|Same Period Last Year|
|I. Cash Flows from Operating Activities:|||
|Cash receipts from sales of goods and rendering of services|176,001,114.88|159,179,891.36|
|Refund of tax and levies||-|
|Other cash receipts relating to operating activities|10,802,596.87|14,325,008.93|
|Sub-total of cash inflows from operating activities|186,803,711.75|173,504,900.29|
|Cash payments for goods purchased and services received|37,114,019.69|27,008,442.07|
|Cash payments to and on behalf of employees|35,317,136.51|32,722,930.92|
|Payments of various taxes|32,618,165.50|25,614,287.25|
|Other cash payments relating to operating activities|7,207,486.19|10,135,504.74|
|Sub-total of cash outflows from operating activities|112,256,807.89|95,481,164.98|
|Net Cash Flows from Operating Activities|74,546,903.86|78,023,735.31|
|II. Cash Flows from Investing Activities:|-|-|
|Cash receipts from investment income|12,908,798.55|14,329,928.96|
|Net cash receipts from disposal of fixed assets,intangible assets and other long-term assets|42,812.00|10,100.00|
|Other cash receipts relating to investing activities|283,233,575.00|444,887,865.51|
|Sub-total of cash inflows from investing activities|296,185,185.55|459,227,894.47|
|Cash payments to acquire or construct fixed assets,intangible assets and other long-term assets|359,426,925.92|174,500,696.11|
|Cash payments to acquire investments||-|
|Net cash outflows of procurement of subsidiaries and otherbusiness units|171,489,525.52|-|
|Other cash payments relating to investing activities|61,056,699.50|363,000,000.00|
|Sub-total of cash outflows from investing activities|591,973,150.94|537,500,696.11|
|Net Cash Flows from Investing Activities|-295,787,965.39|-78,272,801.64|
|III. Cash Flows from Financing Activities:|-|-|
|Cash receipts from capital contributions|498,080,000.00|-|
|Cash receipts from borrowings|101,670,000.00|64,517,851.59|
|Other cash receipts relating to financing activities|294,000,000.00|-|
|Sub-total of cash inflows from financing activities|893,750,000.00|64,517,851.59|
|Cash repayments of borrowings|103,155,000.00|1,051,000.00|

||||
|-|-|-|
|Cash payments for distribution of dividends or profits orsettlement of interest expenses|33,495,554.54|30,296,793.30|
|Other cash payments relating to financing activities|1,314,455.93|1,201,200.00|
|Sub-total of cash outflows from financing activities|137,965,010.47|32,548,993.30|
|Net Cash Flows from Financing Activities|755,784,989.53|31,968,858.29|
|IV. Effect of Foreign Exchange Rate Changes on Cashand Cash Equivalents|-|6,900.17|
|V. Net Increase(Decrease)in Cash and Cash Equivalents|534,543,928.00|31,726,692.13|
|Add: Opening balance of Cash and Cash Equivalents|321,121,926.73|375,328,861.18|
|VI. Closing Balance of Cash and Cash Equivalents|855,665,854.73|407,055,553.31|

 Legal Representative: Tian Junyan Chief Financial Officer: Yu Zhongxia Financial Manager: Sun Yuhui
6.Cash Flow Statements
Parent company Currency: RMB
||||
|-|-|-|
|Items|Current Period|Same Period Last Year|
|I. Cash Flows from Operating Activities:|||
|Cash receipts from sales of goods and rendering of services|38,087,039.54|53,272,167.52|
|Refund of tax and levies||-|
|Other cash receipts relating to operating activities|2,767,227.94|3,378,121.68|
|Sub-total of cash inflows from operating activities|40,854,267.48|56,650,289.20|
|Cash payments for goods purchased and services received|16,605,825.49|9,074,775.80|
|Cash payments to and on behalf of employees|22,687,878.29|18,639,656.62|
|Payments of various taxes|3,543,510.01|5,929,924.01|
|Other cash payments relating to operating activities|140,046.76|6,689,778.39|
|Sub-total of cash outflows from operating activities|42,977,260.55|40,334,134.82|
|Net Cash Flows from Operating Activities|-2,122,993.07|16,316,154.38|
|II. Cash Flows from Investing Activities:|-|-|
|Cash receipts from investment income|12,908,798.55|14,329,928.96|
|Net cash receipts from disposal of fixed assets, intangible assets andother long-term assets|1,012.00|-|
|Other cash receipts relating to investing activities|451,058,795.00|364,668,336.74|
|Sub-total of cash inflows from investing activities|463,968,605.55|378,998,265.70|
|Cash payments to acquire or construct fixed assets, intangible assetsand other long-term assets|1,583,827.98|5,330,185.47|
|Cash paid to acquire investments|280,210,000.00|13,500,000.00|
|Other cash payments relating to investing activities|148,696,643.62|401,226,716.58|
|Sub-total of cash outflows from investing activities|430,490,471.60|420,056,902.05|
|Net Cash Flows from Investing Activities|33,478,133.95|-41,058,636.35|
|III. Cash Flows from Financing Activities:|-|-|
|Cash receipts from borrowings|100,000,000.00|-|
|Other cash receipts relating to financing activities|2,149,452.09|1,485,914.67|
|Sub-total of cash inflows from financing activities|102,149,452.09|1,485,914.67|
|Cash repayments of borrowings|100,000,000.00|-|
|Cash payments for distribution of dividends or profits or settlementof interest expenses|29,643,289.34|26,809,606.74|
|Other cash payments relating to financing activities|1,604,094.84|4,200,488.98|
|Sub-total of cash outflows from financing activities|131,247,384.18|31,010,095.72|
|Net Cash Flows from Financing Activities|-29,097,932.09|-29,524,181.05|
|IV. Effect of Foreign Exchange Rate Changes on Cash andCash Equivalents||-|
|V．Net Increase(Decrease) in Cash and Cash Equivalents|2,257,208.79|-54,266,663.02|
|Add: Opening balance of Cash and Cash Equivalents|28,808,779.96|110,176,958.92|
|VI. Closing Balance of Cash and Cash Equivalents|31,065,988.75|55,910,295.90|

Legal Representative: Tian Junyan Chief Financial Officer: Yu Zhongxia Financial Manager: Sun Yuhui
Ⅱ. Audit Report
Audit Opinion
The first quarterly report is unaudited.
Board of Directors
Shenzhen Chiwan Petroleum Supply Base Co., Ltd.
April 30, 2016