Apr 26, 2017 - new bank drafts during the period. Other receivables. 5,192. 15,087. -9,895. -65.59 Mainly due to the rec
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(a joint stock limited company incorporated in the People’s Republic of China with limited liability) (Stock Code: 1065)
First Quarterly Report 2017 1.
Important
1.1 The board (the “Board”) of directors (the “Directors”) and the supervisory committee of Tianjin Capital Environmental Protection Group Company Limited (the “Company”) and all of its Directors, supervisors and senior management warrant that there are no false information, misleading statements or material omissions in this quarterly report, and accept joint and several responsibility for the truthfulness, accuracy and completeness of the contents contained in this quarterly report. 1.2 Mr. Liu Yujun, the officer in charge of the Company, Ms. Peng Yilin, the officer in charge of the accounting function, and Mr. Liu Tao, the officer in charge of the accounting department (the accounting management officer) have warranted the truthfulness, accuracy and completeness of the financial statements contained in this quarterly report. 1.3 The financial statements contained in the first quarterly report of the Company have not been audited.
— 1 —
2.
Major Financial Data and Changes in Shareholders of the Company
2.1 Major Financial Data Unit: 0’000 Currency: RMB
Total assets Net assets attributable to the shareholders of the Company
Net cash flows from operating activities Operating income Net profits attributable to the shareholders of the Company Net profit attributable to the shareholders of the Company after deduction of extraordinary items Weighted average return ratio on net assets (%) Basic earnings per share (Yuan/share) Diluted earnings per share (Yuan/share)
As at the end of this reporting period 1,082,913.3 472,803.7
As at the end of the previous year 1,064,089.7 474,437.7
Comparison between the end of this reporting period and the end of the previous year Increase / decrease (%) 1.77 -0.34
From the beginning of the year to the end of the reporting period 8,804.4
From the beginning of the previous year to the end of the corresponding reporting period of the previous year -5,681.9
Compared with the same period of the previous year Increase / decrease (%) 254.96
48,807.1 11,924.9
45,483.9 9,594.2
7.31 24.29
11,852.5
9,558.6
24.00
2.52
2.18
0.084
0.067
Increased by 0.34 percentage point 25.37
0.084
0.067
25.37
— 2 —
Extraordinary items and amounts Unit: 0’000 Currency: RMB
Items Gain and loss from disposal of non-current assets Government grants included in profit or loss for the current period other than those closely related to the normal operation of the Company, in compliance with national policies and regulations, as well as the government grants entitled continuously in accordance with certain standard quota or quantity basis Other non-operating income and expenditure except for those mentioned above Impact on minority interests (after tax) Impact on income tax Total
— 3 —
Amount for the reporting period 0 101.9
-4 -1 -24.5 72.4
2.2 Total number of shareholders and the tables of the shareholdings of the top ten shareholders and the top ten shareholders of circulating shares (or shareholders of non-restricted circulating shares) as at the end of the reporting period 81,009, of which 68 were shareholders of H shares
Total number of shareholders
Name of shareholder (Full name) Tianjin Municipal Investment Company Limited HKSCC Nominees Limited Central Huijin Asset Management Ltd. Chen Hexiang Hong Kong Securities Clearing Company Ltd. Agricultural Bank of China Limited-CSI500 Index Open-ended Fund (中證500交易 型開放式指數證券投資基金) Samsung Asset Management Co., Ltd.- Samsung China Small and Medium-sized Stocks Selected FOF (三星中國中小型股精選母 基金) Shenyang Railway Coal Group Co., Ltd. Yan Lehui Huang Qiangsheng
Shareholdings of the top ten shareholders Number of shares held at the end of the Number of reporting Percentage of restricted period shareholding shares held (shares) (%) (shares) 715,565,186 50.14 0
Number of shares pledged or frozen (shares) None
337,830,900 14,169,800
23.67 0.99
0 0
Unknown Unknown
5,382,556 1,952,743
0.38 0.14
0 0
Unknown Unknown
Nature of shareholder State-owned legal person Unknown State-owned legal person Unknown Unknown
1,768,383
0.12
0
Unknown
Unknown
1,530,700
0.11
0
Unknown
Unknown
1,500,000
0.11
0
Unknown
Unknown
1,496,600 1,298,861
0.10 0.09
0 0
Unknown Unknown
Unknown Unknown
— 4 —
Shareholdings of the top ten shareholders of non-restricted circulating shares Number of non-restricted circulating shares held Name of shareholder (shares) Type of shares Tianjin Municipal Investment Company Limited 715,565,186 Ordinary RMB Shares HKSCC Nominees Limited 337,830,900 H Shares Central Huijin Asset Management Ltd. 14,169,800 Ordinary RMB Shares Chen Hexiang 5,382,556 Ordinary RMB Shares Hong Kong Securities Clearing Company Ltd. 1,952,743 Ordinary RMB Shares Agricultural Bank of China Limited-CSI500 Index 1,768,383 Ordinary RMB Shares Open-ended Fund (中證500交易型開放式指數證券投資 基金) Samsung Asset Management Co., Ltd.- Samsung China 1,530,700 Ordinary RMB Shares Small and Medium-sized Stocks Selected FOF (三星中 國中小型股精選母基金) Shenyang Railway Coal Group Co., Ltd. 1,500,000 Ordinary RMB Shares Yan Lehui 1,496,600 Ordinary RMB Shares Huang Qiangsheng 1,298,861 Ordinary RMB Shares It is not certain whether there is any connected relationship among the top ten shareholders. It is not certain whether there is any connected relationship between the top ten shareholders of non-restricted circulating shares and the top ten shareholders. Notes on the connected relationship or parties acting in concert among the above shareholders
Notes: (1) According to the register of members as provided by HKSCC Nominees Limited, those H shares held by it were held on behalf of various clients. There was no client who owned 5% or more interest in the total share capital of the Company. (2) None of the top ten shareholders are strategic investors of the Company.
— 5 —
3.
Major Events
3.1 Description of and reasons for substantial changes in principal financial statement items and financial indicators of the Company As at 31 March 2017, the Company and its subsidiaries had total assets in the amount of RMB10,829.13 million, representing an increase of 1.77% or RMB188.23 million as compared to the beginning of the year. Total liabilities were RMB5,836.23 million, representing an increase of 3.53% or RMB199.15 million as compared to the beginning of the year. Equity interest attributable to the shareholders of the Company was RMB4,728.04 million, representing a decrease of 0.34% or RMB16.34 million as compared to the beginning of the year. Net profit attributable to the Company for the period from January to March of 2017 was RMB119.25 million, representing an increase of 24.29% or RMB23.31 million as compared to the same period last year. Analysis of items with more significant changes is set out below: Unit: 0’000 Currency: RMB
31 March 2017 395
31 December 2016 40
Amount of increase/ decrease 355
Other receivables
5,192
15,087
-9,895
Construction in progress
2,337
440
1,897
666
18,774
-18,108
2,323
3,441
-1,118
13,703
144
13,559
Items Notes receivable
Other non-current assets
Wages payable
Dividend payable
— 6 —
Change (%) Explanation of change 887.50 Mainly due to the receipt of new bank drafts during the period. -65.59 Mainly due to the recovery of deposits on Dalian project bid during the period. 431.14 Mainly due to the increased investment in construction projects of the Company during the period. -96.45 Mainly due to the transfer of asset consideration for Karamay project as at the end of the previous year to intangible assets according to the licensed operation agreement. -32.49 Mainly due to the payment of year-end bonus provided at the end of 2016 during the period. 9,415.97 Mainly due to the provision for dividends payable for 2016 during the period according to the resolutions of the Board.
Unit: 0’000 Currency: RMB
January to March 2017 0
January to March 2016 -137
Amount of increase/ decrease 137
10
0
10
4,197
2,738
1,459
532
289
243
8,804
-5,682
14,486
Net cash flows from investing activities
-15,520
-11,559
-3,961
Net cash flows from financing activities
6,500
-3,544
10,044
Net increase in cash and cash equivalents
- 216
-20,784
20,568
Items Investment income
Non-operating expenses Income tax expenses
Profit or loss attributable to minority shareholders Net cash flows from operating activities
Change (%) Explanation of change -100.00 Mainly due to no investment income generated during the period as a result of the provision of impairment losses in full for Tianjin International Machinery Co., Ltd. at the end of 2016. N/A Mainly due to the external donation expenses of the Company during the period. 53.29 Mainly due to the increased income tax as a result of the increase in profit for the period. 84.08 Mainly due to the increase in net profit of non wholly-owned subsidiaries for the period. 254.96 The increase from the same period last year was mainly due to the recovery of deposits on Dalian project bid during the period. -34.27 Mainly due to the increased investment expenditure for various projects of the Company during the period as compared to the same period of last year. 283.41 Mainly due to the increased amounts of borrowings during the period as compared to the same period of last year. 98.96 Due to the combined impact of cash flows from operating, investing and financing activities.
3.2 Progress of major event and its effects as well as the analytical explanation of solutions (1) Due to the needs for business expansion, the Company has applied to issue corporate bonds with a total principal amount of not exceeding RMB1.8 billion. The issuance plan had been approved by the China Securities Regulatory Commission (the “CSRC”) and the Company issued RMB700 — 7 —
Unit: 0’000 Currency: RMB million of corporate bonds in 2016. The remaining balance will be issued based on the actual need. Please refer to section 10 “Information on Corporate Bonds” of the 2016 Annual Report published by the Company on the website of the Shanghai Stock Exchange (http://www.sse.com.cn) for contents in detail. (2) In order to optimize the capital structure, the Company started the work in respect of the non-public issuance of A shares in 2016. The issuance plan was approved by the general meeting of shareholders of the Company. Please refer to the relevant announcements published by the Company on the website of the Shanghai Stock Exchange on 8 September and 30 December 2016 for contents in detail. Due to the major adjustments made by the CSRC on the equity financing policy of listed companies at the beginning of 2017, the adjusted proposal of the non-public issuance of A shares of the Company was reviewed and approved at the 31st meeting of the seventh session of the Board on 24 April 2017. The related proposal is planned to be submitted to the subsequent general meeting of shareholders for consideration. (3) Tianjin Kaiying Technology Development Company Limited (天津凱英科技 發展有限公司), a subsidiary of the Company, has applied for quotation on the National Equities Exchange and Quotations System, which has been approved by such system but is still subject to the approval of the Stock Exchange of Hong Kong Limited. Please refer to the relevant announcement published by the Company on the website of the Shanghai Stock Exchange on 14 September 2016 for contents in detail. 3.3 Commitments that failed to be implemented on time during the reporting period □ Applicable
⻫ Not applicable
3.4 Warning of the prediction that the accumulated net profits from the beginning of the year to the end of the next reporting period may record a loss or substantial changes may have occurred as compared with the same period of the previous year and the reasons □ Applicable
⻫ Not applicable By order of the Board Liu Yujun Chairman
Tianjin, the PRC 26 April 2017 As at the date of this announcement, the Board comprises four executive Directors: Mr. Liu Yujun, Mr. Tang Fusheng, Ms. Fu Yana and Ms. Peng Yilin; two non-executive Directors: Mr. An Pindong and Ms. Chen Yinxing; and three independent non-executive Directors: Mr. Gao Zongze, Mr. Guo Yongqing and Mr. Wang Xiangfei.
— 8 —
4.
Appendices
Consolidated Balance Sheet As at 31 March 2017 Unit: ’000 Currency: RMB Balance at the Balance at the end of the beginning of period the year
Items CURRENT ASSETS: Currency funds Notes receivable Trade receivables Prepayments Other receivables Inventories Other current assets
1,196,971 3,950 2,119,595 177,867 51,923 24,086 49,026
1,199,058 400 1,815,420 153,198 150,872 24,491 49,107
Total current assets
3,623,418
3,392,546
NON-CURRENT ASSETS: Available-for-sale financial assets Long-term receivables Investment properties Fixed assets Construction in progress Intangible assets Other non-current assets
2,000 305,600 96,672 405,617 23,366 6,365,801 6,659
2,000 309,148 97,590 413,486 4,396 6,233,987 187,744
Total non-current assets
7,205,715
7,248,351
10,829,133
10,640,897
TOTAL ASSETS
— 9 —
CURRENT LIABILITIES: Trade payables Advances Wages payable Taxes payable Dividend payable Other payables Non-current liabilities due within one year Other current liabilities
106,076 1,039,119 23,228 68,004 137,025 335,485 228,712 9,645
107,239 955,507 34,411 69,080 1,438 408,111 212,327 9,645
Total current liabilities
1,947,294
1,797,758
NON-CURRENT LIABILITIES: Long-term borrowings Bonds payable Long-term payables Provision for other liabilities and charges Deferred income Deferred income tax liabilities Other non-current liabilities
569,650 1,394,961 281,508 32,930 1,450,796 115,913 43,181
510,428 1,394,313 285,208 32,930 1,446,971 126,108 43,364
Total non-current liabilities
3,888,939
3,839,322
TOTAL LIABILITIES
5,836,233
5,637,080
OWNERS’ EQUITY: Share capital Capital reserves Surplus reserves Retained earnings
1,427,228 399,115 444,925 2,456,769
1,427,228 399,115 444,925 2,473,109
Total equity attributable to owners of the Company
4,728,037
4,744,377
264,863
259,440
4,992,900
5,003,817
10,829,133
10,640,897
Minority shareholders interest Total owners’ equity TOTAL LIABILITIES AND OWNERS’ EQUITY
— 10 —
Balance Sheet of the Company As at 31 March 2017 Unit: ’000 Currency: RMB Balance at the end of the period
Balance at the beginning of the year
CURRENT ASSETS: Currency funds Trade receivables Prepayments Dividends receivable Other receivables Inventories Other current assets
459,757 1,719,585 205 8,713 124,093 4,415 167,843
459,678 1,489,342 423 8,713 287,697 4,333 103,843
Total current assets
2,484,611
2,354,029
NON-CURRENT ASSETS: Available-for-sale financial assets Long-term receivables Long-term equity investments Investment properties Fixed assets Intangible assets Other non-current assets
2,000 305,600 1,756,349 75,026 121,324 3,365,698 234,480
2,000 309,148 1,746,349 75,818 125,374 3,393,326 237,480
Total non-current assets
5,860,477
5,889,495
TOTAL ASSETS
8,345,088
8,243,524
Items
— 11 —
CURRENT LIABILITIES: Trade payables Advances Wages payable Taxes payable Dividend payable Other payables Non-current liabilities due within one year Other current liabilities
35,174 65,958 20,329 42,415 137,025 718,254 25,833 86,463
20,089 5,994 22,920 38,154 1,438 751,895 25,927 86,463
Total current liabilities
1,131,451
952,880
NON-CURRENT LIABILITIES: Bonds payable Long-term payables Provision for other liabilities and charges Deferred income Deferred income tax liabilities Other non-current liabilities
1,394,961 281,508 32,930 1,128,705 56,000 210,000
1,394,313 285,208 32,930 1,129,013 54,224 210,000
Total non-current liabilities
3,104,104
3,105,688
TOTAL LIABILITIES
4,235,555
4,058,568
OWNERS’ EQUITY: Share capital Capital reserves Surplus reserves Retained earnings
1,427,228 380,788 444,925 1,856,592
1,427,228 380,788 444,925 1,932,015
Total owners’ equity
4,109,533
4,184,956
TOTAL LIABILITIES AND OWNERS’ EQUITY
8,345,088
8,243,524
— 12 —
Consolidated Income Statement January to March 2017 Unit: ’000 Currency: RMB Items 1. 2.
3.
4. 5.
6. 7.
8.
Total operating income Including: Operating income Total cost for operations Including: Cost for operations Tax and surcharges Selling expenses Administrative expenses Financial expenses Investment income (losses are stated by “-”) Including: Investment income from associate companies and joint venture companies Operation profit (losses are stated by “-”) Add: Non-operating income Including: Gain from disposal of non-current assets Less: Non-operating expenses Including: Losses on disposal of non-current assets Total profit (total losses are stated by “-”) Less: Income tax expenses Net profit (net losses are stated by “-”) Net profit attributable to the owners of the Company Profit or loss attributable to minority shareholders Other comprehensive income, net of tax Total comprehensive income Total comprehensive income attributable to the owners of the Company Total comprehensive income attributable to minority shareholders Earnings per share: (1) Basic earnings per share (Yuan/share) (2) Diluted earnings per share (Yuan/share)
Amount for the current period
Amount for the previous period
488,071 488,071 354,304 283,126 10,216 3,009 32,729 25,224 0
454,839 454,839 359,346 283,875 10,712 2,571 28,680 33,508 -1,372
0
-1,372
133,767 32,869 0
94,121 32,087 1
100 0
0 0
166,536 41,965 124,571 119,249 5,322 — 124,571 119,249
126,208 27,379 98,829 95,942 2,887 — 98,829 95,942
5,322
2,887
0.084 0.084
0.067 0.067
For the business combination under common control effected in the current period, the net profit recognized by the merged party before the combination was RMB0, and the net profit recognized by the merged party in the previous period was RMB0.
— 13 —
Income Statement of the Company January to March 2017 Unit: ’000 Currency: RMB
Items
Amount for the current period
Amount for the previous period
224,849 121,664 3,907 20,438 16,007
241,675 141,029 6,313 16,616 19,478
1.
Operating income Less: Cost for operations Tax and surcharges Administrative expenses Financial expenses
2.
Operation profit (losses are stated by “-”) Add: Non-operating income
62,833 17,386
58,239 20,108
3.
Total profit (total losses are stated by “-”) Less: Income tax expenses
80,219 20,055
78,347 19,587
4.
Net profit (net losses are stated by “-”)
60,164
58,760
5.
Other comprehensive income, net of tax
─
─
6.
Total comprehensive income
60,164
58,760
7.
Earnings per share
—
—
— 14 —
Consolidated Cash Flow Statement January to March 2017 Unit: ’000 Currency: RMB
Items 1.
2.
3.
Cash flows from operating activities: Cash received from sales of goods and rendering of services Taxes and levies rebate received Cash received relating to other operating activities Sub-total of cash inflow from operating activities Cash paid for goods and services Cash paid to and on behalf of employees Payments of taxes and levies Cash payments relating to other operating activities Sub-total of cash outflow from operating activities Net cash flows from operating activities Cash flows from investing activities: Net cash received from disposal of fixed assets, intangible assets and other long-term assets Sub-total of cash inflow from investing activities Cash paid to acquire and construct fixed assets, intangible assets and other long-term assets Cash paid to other investing activities Sub-total of cash outflow from investing activities Net cash flows from investing activities Cash flows from financing activities: Cash received from borrowings Sub-total of cash inflow from financing activities Cash paid for repayments of debts Cash paid for distribution of dividends and profits or for interest expenses Sub-total of cash outflow from financing activities Net cash flows from financing activities
Amount for the current period
Amount for the previous period
308,922
245,461
33,390 168,068 510,380 162,820 86,352 124,933 48,231 422,336 88,044
55,124 59,973 360,558 143,338 84,162 152,940 36,937 417,377 -56,819
2
54
2 155,204
54 99,642
0 155,204 -155,202
16,000 115,642 -115,588
105,900 105,900 30,200 10,703
0 0 25,000 10,438
40,903 64,997
35,438 -35,438
—
—
4.
Effect of foreign exchange rate changes on cash or cash equivalents
5.
Net increase in cash and cash equivalents Add: Balance of cash and cash equivalents at the beginning of period
-2,161 1,181,120
-207,845 1,328,575
6.
Balance of cash and cash equivalents at the end of period
1,178,959
1,120,730
— 15 —
Cash Flow Statement of the Company January to March 2017 Unit: ’000 Currency: RMB
Items 1.
2.
3.
Cash flows from operating activities: Cash received from sales of goods and rendering of services Taxes and levies rebate received Cash received relating to other operating activities Sub-total of cash inflow from operating activities Cash paid for goods and services Cash paid to and on behalf of employees Payments of taxes and levies Cash payments relating to other operating activities Sub-total of cash outflow from operating activities Net cash flows from operating activities Cash flows from investing activities: Cash paid to acquire and construct fixed assets, intangible assets and other long-term assets Cash paid for investments Cash paid to other investing activities Sub-total of cash outflow from investing activities Net cash flows from investing activities Cash flows from financing activities: Sub-total of cash inflow from financing activities Cash paid for distribution of dividends and profits or for interest expenses Sub-total of cash outflow from financing activities Net cash flows from financing activities
Amount for the current period
Amount for the previous period
96,403
16,257
17,887 228,099 342,389 54,965 34,658 53,313 133,584 276,520 65,869
44,681 130,898 191,836 67,834 35,340 113,166 108,725 325,065 -133,229
52,907
49,842
10,000 0 62,907 -62,907
0 16,000 65,842 -65,842
0 2,958
0 0
2,958 -2,958
0 0
—
—
4.
Effect of foreign exchange rate changes on cash or cash equivalents
5.
Net increase in cash and cash equivalents Add: Balance of cash and cash equivalents at the beginning of period
4 454,678
-199,071 596,699
6.
Balance of cash and cash equivalents at the end of period
454,682
397,628
— 16 —
