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神州长城(000018)公告正文

中冠B:2014年第一季度报告全文(英文版)

公告日期:2014-04-28

                            深圳中冠纺织印染股份有限公司 2014 年第一季度报告全文Shenzhen Victor Onward Textile Industrial Co., Ltd.
          The First Quarterly Report of 2014
                    April 2014
                                                   深圳中冠纺织印染股份有限公司 2014 年第一季度报告全文
                                        1 Important notesThe Board of Directors and the Supervisory Committee of the Company and its directors,supervisors and senior executives should guarantee the reality, accuracy and completion of thequarterly report, there are no any fictitious statements, misleading statements or importantomissions carried in this report , and shall take legal responsibilities, individual and /or joint.All of the directors presented the board meeting at which this Quarterly Report was examined.Mr. Hu Yongfeng, Person in charge of the Company, Mr. Zhang Jinliang , Person in charge ofaccounting works, Mr. Ren Changzheng ,person in charge of accounting organ hereby confirm thatthe financial Report of this Quarterly Report is authentic, accurate and complete.
                                                                         深圳中冠纺织印染股份有限公司 2014 年第一季度报告全文II. Main financial data and changes of shareholders(1)Main financial data and indicesWhether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accountingerror correction or not.
    □ Yes   √ No
                                                                                                                Changes of this period over
                                                      This period               Same period of last year          same period of last year
                                                                                                                          (%)
    Operating income(RMB)                                      2,432,585.00                    2,430,392.00                             0.09%Net profit attributable to the shareholders
                                                            -1,144,673.00                   -2,662,785.00                           -57.01%of the listed company(RMB)Net profit after deducting of non-recurring
    gain/loss attributable to the shareholders of               -1,144,673.00                   -2,645,703.00                           -56.73%listed company(RMB)Cash flow generated by business operation,
                                                             1,295,741.00                      987,246.00                           31.25%net(RMB)
    Basic earning per share(RMB/Share)                                      -0.01                           -0.02                          -50%Diluted gains per
                                                                        -0.01                           -0.02                          -50%share(RMB/Share)(RMB/Share)Weighted average return on equity
                                                                    -0.91%                         -2.27%                             1.36%(%)
                                                                                                                Changes of this period-end
                                                   End of this period              End of last period           over same period-end of last
                                                                                                                          year(%)
    Gross assets(RMB)                                       170,821,000.00                  170,502,789.00                              0.19%Net profit attributable to the shareholders
                                                          125,300,821.00                  126,320,072.00                             -0.81%of the listed company(RMB)Items and amount of non-current gains and losses□applicable √not applicable(2) Total number of shareholders at the end of report period and Particular about shares held by top tenshareholders
                                                                                                                        In SharesTotal number of shareholders at the end
                                                                                                                                     10,456of report period
                                                                      深圳中冠纺织印染股份有限公司 2014 年第一季度报告全文
                                         Particular about shares held by top ten shareholders
                                                                                  Amount of                    Pledging or freezing
                        Properties of          Share                            tradable shares
    Shareholder name                                               Quantity                                Status of the
                        shareholder        proportion %                        with Conditional                              Quantity
                                                                                                           shares
                                                                                     held
                      Domestic Non-Union Holdings Co.,
                      State-owned                  25.51%         43,141,032                      0Ltd.
                      legal person
    STYLE-SUCCESS         Foreign Legal
                                                   14.46%         24,466,029                      0
    LIMITED               person
    Rich Crown            Foreign Legal
                                                    3.62%          6,114,556                      0Investment Co., Ltd. person
                      Domestic Non-Union Development
                      State-owned                   3.36%          5,681,089                      0Group Co., Ltd.
                      legal personLiuzhou Jiali
                      Domestic Non-Real estate
                      State-owned                   2.69%          4,545,700                      0Development
                      legal personCo., ltd.Shenzhen Textile
                      State-owned
    (Group)Holdings                                     1.68%          2,840,594                      0
                      Legal personLtd
                      Domestic Natural
    Zeng Ying                                           1.22%          2,070,600                      0
                      personLiuzhou Ruiheng Domestic Non-
    Mechatronics    State-owned                         1.01%          1,710,100                      0
    Co., Ltd.       legal person
    KGI ASIA              Foreign Legal
                                                    0.55%            927,450                      0
    LIMITED               person
                      Domestic Natural
    Jiang Jiayuan                                       0.54%            909,184                      0
                      person
                                      Shareholding of top 10 shareholders of unrestricted shares
                                          Quantity of unrestricted shares held at the end of the                    Share type
       Name of the shareholder
                                                            reporting period                             Share type          Quantity
                                                                                                      RMB Common
    Union Holdings Co., Ltd.                                                             43,141,032                                  43,141,032
                                                                                                      shares
                                                                                                      Foreign shares
    STYLE-SUCCESS LIMITED                                                                24,466,029 placed in                        24,466,029
                                                                                                      domestic
                                                                   深圳中冠纺织印染股份有限公司 2014 年第一季度报告全文
                                                                                              exchange
                                                                                              Foreign shares
                                                                                              placed in
    Rich Crown Investment Co., Ltd.                                                   6,114,556                             6,114,556
                                                                                              domestic
                                                                                              exchange
                                                                                              RMB Common
    Union Development Group Co., Ltd                                                  5,681,089                             5,681,089
                                                                                              shares
    Liuzhou Jiali Real estate Development                                                         RMB Common
                                                                                  4,545,700                             4,545,700
    Co., ltd.                                                                                     shares
                                                                                              RMB Common
    Shenzhen Textile (Group)Holdings Ltd                                              2,840,594                             2,840,594
                                                                                              shares
                                                                                              Foreign shares
                                                                                              placed in
    Zeng Ying                                                                         2,070,600                             2,070,600
                                                                                              domestic
                                                                                              exchange
    Liuzhou Ruiheng Mechatronics Co.,                                                             RMB Common
                                                                                  1,710,100                             1,710,100
    Ltd.                                                                                          shares
                                                                                              Foreign shares
                                                                                              placed in
    KGI ASIA LIMITED                                                                    927,450                              927,450
                                                                                              domestic
                                                                                              exchange
                                                                                              RMB Common
    Jiang Jiayuan                                                                       909,184                              909,184
                                                                                              shares
    Notes to the related relationship       The controlling shareholder of the above-mentioned largest shareholder Shenzhen Union
    between the shareholders or their       Holdings Ltd. and Third shareholder Rich Crown Investment Co., Ltd.. Is Union
    concerted action                        Development Group Ltd.Top 10 shareholders taking part inmargin financing and securities lending N/A(if any)Did any shareholder of the Company carry out an agreed buy-back in the reporting period?□ Yes √ No
                                                                        深圳中冠纺织印染股份有限公司 2014 年第一季度报告全文§3 Significant EventsI. Particular about large-margin change of main accounting statement item and financial index and its reason.1.Analysis of the reason for big change of the items of balance sheet of the Company as of the end of the report period.
                                                                                                                        In RMB
    Items                      March 31,2014              December 31, 2013           Amount of increased /         Proportion increased
                                                                                        decreased                   decreased
    Other account receivable      41,829                    311,279                            -269,450                   -86.56%(1) Other account receivable decreased by RMB 269,450 and 86.56% mainly due to recover part of other receivables.2..In the report period, Analysis of the reason for big change of the items of profit statementIn the period from January 2014 to March 2014,the company earned operating income of RMB 2.43 million on accumulative basis,unchanged with last year.Net profit is RMB- 1.14 million,compare to the data last year same period, which loss decreased by RMB 1.5 million.⑴Analysis of reason for flat of operating income:Affected by the real estate rental situation without significant changes affecting.(2).The main reason for decreased of amount of loss:mainly Due to equity method accounted for earnings losses of the investment enterprises Hangzhou Bay decreasedRMB 1.01 millioncompared with last year, as well as the disposal of part of the property subject to the prior year related costs and expenses decreasedimpact.3.Analysis of the reason for big change of the items of cash flow statement of the Company in the report period.In the period from January 2014 to March 2014, Net increase of cash and cash equivalents increased by RMB 10.72 million over theprevious year, mainly due to pay RMB10 million loan to principal Union Group over the same period last year, while the currentperiod did not occur..
                                                                                                              In RMB
        Items                   This period       Same period of last year        Amount of                  Proportion
                                                                                 increased/decreased      Increased/ decreasedNet cash flows arising form
    Operating activities               1,295,741          987,246                         308,495                31.25%Net cash flows from
    investing activities              -30,895              5,539                         -36,434                 -657.77%Net cash flows from
    financing activities                   0            -10,000,000                  10,000,000                     -100%The influence of change
    in exchange rate                       356,477        -100,570                         457,047               -454.46%Net increase of cash and
    cash equivalents                    1,621,323          -9,107,785                 10,729,108                  -117.80%⑴At the end of the report period, Net cash flows from operating activities increased by RMB 308,495 year on year;⑵In the report period, Net cash flows from investing activities decreased by RMB36,434 year on year;
                                                                    深圳中冠纺织印染股份有限公司 2014 年第一季度报告全文⑶At the end of the report period, There were no net cash flows from financing activities increased byRMB10,000,000 year on year;⑷At the end of the report period, the influence of change in exchange rate on cash and cash equivalents increased by RMB-767,200year on year;⑸At the end of the report period, net increase in cash and cash equivalents increased by RMB10,729,108 year on year.II. The progress of significant events and influence, as well as the analysis and explanation on resolving proposal.(1) Since March 2007, Shenzhen Victor Onward Textile Industrial Co., Ltd. stopped production and dismissedmost of workers. And most subsidiaries of the company had stopped production and it maintained daily operationby house leasing.Except that Shenzhen East Asia Victor Onward Textile Printing and Dyeing Co., Ltd. is still operating normally,other 5 subsidiaries controlled by the Company have stopped operation or are maintaining daily operation byhouse property lease. The Company planned to invest in the joint venture project of Nanjing East Asia TextilePrinting and Dyeing Co., Ltd. with partial machinery and equipment in 2007. Due to change of foundation of jointventure and prospect of the industry, the capital increase was not completed. On June 4, 2012, The company hasinstituted court action against below three companies at Jiangsu Province Higher People's Court, and asked toterminate the contracts and agreements signed with Nanjing East Asia Textile Printing & Dyeing Co., Ltd.,Nanjing East Asia Investment & Development Group Co., Ltd. and Hong Kong Yaojunxing Co., Ltd., who shallpay RMB47,922,902.92 to the company for the pecuniary loss of implicative compensation and undertake thecosts of litigation. The company has received the Su-Shang-Wai-Chu-Zi No.0002 (2012) of “Notice on IndictmentAcceptance and Collegial Panel Announcement” issued by Jiangsu Province Higher People's Court on June 14,2012. The Defendant Nanjing East Asia Textile Printing and Dyeing Co., Ltd. made objection to the jurisdiction ofthis case during the period of defence submission. The court formed a collegial bench and conducted examinationaccording to law. On December 24, 2013, Jiangsu Higher People's Court issued Civil Ruling Paper to reject theobjection made by Nanjing East Asia Textile Printing and Dyeing Co., Ltd. about the jurisdiction. ((2013)SSWXCZ No. 0001 Civil Ruling Paper of Jiangsu Higher People's Court Civil Ruling Paper). The case hasn’t yetbeen tried,(2)After the 2013 Annual Report, the company has cancelled the special treatment to stock referring thewarning of delisting risk and other risk warnings.The 2013 Fiscal Report has been audited by Dahua Certified Public Accountants( Special General Partnership),within which it is stated: the net profit of the company in 2013 is RMB 7,849,904, while the net profit attributed tothe shareholders of the listed company is RMB 8,214,810 . According to the related provisions in Shenzhen StockExchange Listing Rules, The situation that A shares and B shares treated with special measures as warning ofdelisting risk has been eliminated, while there is no other circumstances of issuing delisting risk warning norimplementing other risks warnings. Approved by the Shenzhen Stock Exchange, since March 13, 2014, thewarning of delisting risk towards the company's stock transactions has been cancelled, as well as other riskswarnings.
                                                                                         Description of the website for disclosing
    Description of provisional announcement                Date of disclosing
                                                                                               provisional announcements
                                                                        深圳中冠纺织印染股份有限公司 2014 年第一季度报告全文
    Announcement on lawsuits.of Shenzhen                                                        http://www.cninfo.com.cn/finalpage/2012-
                                               June 16, 2012
    Victor Onward Textile Industrial Co., Ltd.                                                  06-16/61144742.PDF
    Announcement of the Resignation of                                                          http://www.cninfo.com.cn/finalpage/2014-
                                               January 23, 2014
    Independent Director Ms. Chen Jinmei.                                                       01-23/63514325.PDFAnnouncement of the Proposal of thecancellation the special treatment to stock
    referring the warning of delisting risk and                                                 http://www.cninfo.com.cn/finalpage/2014-
                                               March 12, 2014
    other risk warnings of Board of Directors of                                                03-12/63664541.PDFShenzhen Victor Onward Textile IndustrialCo., Ltd.III.The commitments of the Company and its shareholders holding over 5% of the Company’s total shares in thereport year of extending to the report year from previous year.
                                                Commitment                           Time of making       Period of
               Commitment                                           Contents                                            Fulfillment
                                                    maker                             commitment        commitment
                                                                Committed
                                                                when the
                                                                restricted-for-sal
                                                                e shares from
                                                                the shares
                                                                restructuring
                                                                were listed for
                                                                circulation in the
                                                                market: i. if they
                                                                plan to sell the
                                                                shares through
                                                                the securities
                                                                exchange
                                               Union Holding                                                          Under
    Commitment on share reform                                      system in the                         In effect
                                                Co., Ltd.                                                             Fulfillment
                                                                future, and the
                                                                decrease of the
                                                                shares they hold
                                                                reaches 5%
                                                                within 6 months
                                                                after the first
                                                                decrease, they
                                                                will disclose an
                                                                announcement
                                                                indicating the
                                                                sale through the
                                                                company within
                                                                two trading days
                                                                         深圳中冠纺织印染股份有限公司 2014 年第一季度报告全文
                                                                 before the first
                                                                 decrease; ii.
                                                                 They shall
                                                                 strictly observe
                                                                 the “Guidelines
                                                                 on Transfer of
                                                                 Restricted-for-sa
                                                                 le Original
                                                                 Shares of Listed
                                                                 Companies” and
                                                                 the provisions of
                                                                 the relevant
                                                                 business
                                                                 principles of
                                                                 Shenzhen Stock
                                                                 Exchange.Commitment in the acquisition
    report or the report on equity                 Not applicablechangesCommitment made upon the assets
                                               Not applicablereplacement
    Commitments made upon issuance                 Not applicableOther commitments made to minority
                                               Not applicableshareholders
    Executed timely or not?                        YesDetailed person for failing to execute and
                                               Not applicablethe next plan(If any)IV.Prediction of Business performance for January- March 2014.Estimation of accumulative net profit from the beginning of the year to the end of next report period to be lossprobably or the warning of its material change compared with the corresponding period of the last year andexplanation of reason.
    √Applicable    □ Not applicableFore-notice of earnings: Make up the deficitsType of date filled for the prediction: Interval figures
                                                                  Same period of
                                 Year beginning to end of next
                                                                    the previous             Increase or decrease%
                                          report period
                                                                        yearEstimated amount of
                                              0 --          100                  -412 --              -124.27% --     -100%accumulative net
                                                                  深圳中冠纺织印染股份有限公司 2014 年第一季度报告全文profit(RMB’0000)Basic earnings per shares
                                         0 --          0.006            -0.02 --                       -130% --         -100%(Yuan/share)
                             Due to the effect of making up the deficits in the first half 2014 of Zhejiang Union Han
    Notes to fore-notice of      gzhou Bay Ventures Co., Ltd. based on the equity method, the company expects the ac
    earnings                     cumulative net profit for the period for January-June 2014 is estimated to be gains and
                             about RMB 0 million to RMB 1 million.V. The registration form of acceptance of investigation, communication and interview in the report period forfuture reference
                                                                                                    Content of discussion and
       Date                 Place               Mode              Type                   Visitor
                                                                                                        materials provided
                    BOD office of the                                                              Enquiry of the house rentin
    January 13, 2014                        By phone           Individual              Investor
                     Company                                                                       g situation of the company
                    BOD office of the                                                              Enquiry of the company's c
    January 21, 2014                        By phone           Individual              Investor
                    Company                                                                        urrent situation
                                                          深圳中冠纺织印染股份有限公司 2014 年第一季度报告全文
                                            IV. Financial statement1. Financial statement1.Consolidated Balance sheet
    Prepared by: Shenzhen     Victor Onward Textile Industrial Co., Ltd.
                                                                                                        In RMB
                Items                         Year-end balance                 Year-beginning balanceCurrent asset:
    Monetary fund                                             65,124,233.00                        63,502,910.00
    Settlement provision
    Outgoing call loanTrading financial assets
    Bill receivable                                             1,500,000.00                         1,500,000.00Account receivable
    Prepayments                                                     34,377.00                         25,192.00Insurance receivableReinsurance receivableProvisions of Reinsurancecontracts receivable
    Interest receivable                                                                               79,340.00
    Dividend receivable
    Other account receivable                                         41,829.00                        311,279.00Repurchasing of financial assets
    InventoriesNon-current asset due in 1 year
    Other current asset
    Total of current assets                                     66,700,439.00                        65,418,721.00Non-current assets:Loans and payment on other’sbehalf disbursed
    Disposable financial asset                                     629,999.00                        582,942.00
    Expired investment in possess
                                     深圳中冠纺织印染股份有限公司 2014 年第一季度报告全文Long-term receivableLong term share equity
                                      66,572,839.00                         66,931,685.00investment
    Property investment                  23,322,790.00                         23,458,153.00
    Fixed assets                         6,684,926.00                          7,191,205.00
    Construction in progressEngineering material
    Fixed asset disposal
    Production physical assetsGas & petrol
    Intangible assets                     1,810,383.00                          1,820,459.00R & D petrol
    Goodwill                              5,099,624.00                          5,099,624.00
    Long-germ expenses to beamortizedDiffered income tax assetOther non-current asset
    Total of non-current assets          104,120,561.00                        105,084,068.00
    Total of assets                      170,821,000.00                        170,502,789.00Current liabilities
    Short-term loans
    Loan from Central BankDeposit received and hold forothersCall loan received
    Trade off financial liabilities
    Bill payable
    Account payable                      3,700,662.00                          3,186,939.00
    Advance payment                       1,076,937.00                          1,076,531.00
    Selling of repurchased financialassetsFees and commissions receivable
    Employees’ wage payable                977,937.00                          1,109,352.00
    Tax payable                           4,233,819.00                          4,250,191.00Interest payable
                                      深圳中冠纺织印染股份有限公司 2014 年第一季度报告全文
    Dividend payable                        1,215,946.00                         1,215,946.00
    Other account payable                23,502,076.00                         22,663,345.00Reinsurance fee payableInsurance contract provisionEntrusted trading of securitiesEntrusted selling of securitiesNon-current liability due in 1 year
    Other current liability                  1,659,763.00                         1,547,263.00
    Total of current liability             36,367,140.00                         35,049,567.00Non-current liabilities:
    Long-term loan                         1,080,007.00                         1,101,349.00Bond payable
    Long-term payable                      8,302,089.00                         8,230,694.00Special payableExpected liabilities
    Differed income tax liability             672,571.00                           702,735.00
    Other non-current liabilities            836,792.00                           836,792.00
    Total of non-current liabilities       10,891,459.00                         10,871,570.00
    Total of liability                     47,258,599.00                         45,921,137.00Owners’ equity
    Share capital                       169,142,356.00                        169,142,356.00
    Capital reserves                      39,687,048.00                         39,645,048.00
    Less:Shares in stockSpecial reserves
    Surplus reserves                     26,704,791.00                         26,704,791.00Common risk provision
    Undistributed profit                -109,203,874.00                      -108,059,131.00Different of foreign currency
                                        -1,029,500.00                        -1,112,992.00translationTotal of owner’s equity belong to
                                      125,300,821.00                        126,320,072.00the parent company
    Minority shareholders’ equity        -1,738,420.00                        -1,738,420.00
    Total of owners’ equity              123,562,401.00                        124,581,652.00Total of liabilities and owners’
                                      170,821,000.00                        170,502,789.00equity
                                                          深圳中冠纺织印染股份有限公司 2014 年第一季度报告全文Legal representative :Hu YongfengPerson-in-charge of the accounting work:Zhang JinliangPerson-in -charge of the accounting organ:Ren Changzheng2. Balance sheet of Parent Company
    Prepared by: Shenzhen     Victor Onward Textile Industrial Co., Ltd.
                                                                                                        In RMB
                Items                         Year-end balance                 Year-beginning balanceCurrent asset:
    Monetary fund                                               10,173,310.00                        10,557,501.00Trading financial assets
    Bill receivable                                              1,500,000.00                         1,500,000.00Account receivablePrepaymentsInterest receivableDividend receivable
    Other account receivable                                    80,936,618.00                        80,967,376.00InventoriesNon-current asset due in 1 yearOther current asset
    Total of current assets                                     92,609,928.00                        93,024,877.00Non-current assets:Disposable financial assetExpired investment in possessLong-term receivable
    Long     term         share   equity
                                                            36,788,953.00                        36,788,953.00investment
    Property investment                                          4,639,281.00                         4,723,575.00
    Fixed assets                                                 4,384,712.00                         4,384,712.00Construction in progressEngineering materialFixed asset disposalProduction physical assetsGas & petrol
                                        深圳中冠纺织印染股份有限公司 2014 年第一季度报告全文
    Intangible assets                         1,810,383.00                          1,820,459.00R & D petrolGoodwill
    Long-germ         expenses    to   beamortizedDiffered income tax assetOther non-current asset
    Total of non-current assets              47,623,329.00                         47,717,699.00
    Total of assets                         140,233,257.00                        140,742,576.00Current liabilitiesShort-term loansTrade off financial liabilitiesBill payable
    Account payable                             113,344.00                            113,344.00
    Advance payment                             302,540.00                           302,540.00
    Employees’ wage payable                    564,681.00                           677,181.00
    Tax payable                                 647,295.00                           767,076.00Interest payableDividend payable
    Other account payable                     1,264,010.00                          1,158,902.00Non-current liability due in 1 year
    Other current liability                   1,659,763.00                          1,547,263.00
    Total of current liability                4,551,633.00                          4,566,306.00Non-current liabilities:Long-term loanBond payableLong-term payableSpecial payableExpected liabilities
    Differed income tax liability             4,180,138.00                          4,180,138.00
    Other non-current liabilities               836,792.00                           836,792.00
    Total of Non-current liabilities          5,016,930.00                          5,016,930.00
    Total of liability                        9,568,563.00                          9,583,236.00Owners’ equity
                                                           深圳中冠纺织印染股份有限公司 2014 年第一季度报告全文
    Share capital                                               169,142,356.00                       169,142,356.00
    Capital reserves                                             31,606,598.00                        31,606,598.00Less:Shares in stockSpecial reserves
    Surplus reserves                                             26,309,287.00                        26,309,287.00Provision of general risk
    Undistributed profit                                        -91,995,313.00                       -91,500,667.00Different of foreign currency
                                                             -4,398,234.00                        -4,398,234.00translation
    Total of owners’ equity                                    130,664,694.00                       131,159,340.00Total of liabilities and owners’
                                                            140,233,257.00                       140,742,576.00equityLegal representative :Hu YongfengPerson-in-charge of the accounting work:Zhang JinliangPerson-in -charge of the accounting organ:Ren Changzheng3.Consolidated Profit Statement
    Prepared by: Shenzhen     Victor Onward Textile Industrial Co., Ltd.
                                                                                                         In RMB
                Items                       Amount in this period                Amount in last period
    I. Income from the key business                               2,432,585.00                         2,430,392.00
    Incl:Business income                                         2,432,585.00                         2,430,392.00Interest incomeInsurance fee earnedFee and commission received
    II. Total business cost                                       2,959,613.00                         3,442,926.00
    Incl:Business cost                                            724,283.00                           948,594.00Interest expenseFee and commission paidInsurance discharge paymentNet claim amount paidInsurance policy dividend paid
                                              深圳中冠纺织印染股份有限公司 2014 年第一季度报告全文Insurance policy dividend paidReinsurance expenses
    Business tax and surcharge                        116,647.00                           125,716.00
    Sales expense                                      73,907.00                            91,723.00
    Administrative expense                          1,957,807.00                          2,006,565.00
    Financial expenses                                 86,969.00                           168,792.00
    Asset impairment loss                                                                  101,536.00Add:Gains from change of firvalue (“-”for loss)
    Investment gain(“-”for loss)                 -617,645.00                         -1,633,169.00
    Incl: investment       gains     fromaffiliatesGains from currency exchange(“-”for loss)
    III. Operational profit(“-”for loss          -1,144,673.00                        -2,645,703.00
    Add:Non-business income                                                                 1,942.00
    Less:Non business expenses                                                             19,024.00Incl : Loss from disposal ofnon-current assets
    IV.Total profit(“-”for loss)                  -1,144,673.00                        -2,662,785.00Less:Income tax expenses
    V. Net profit(“-”for net loss)              -1,144,673.00                        -2,662,785.00Including: Net profit realized bythe entity taken over before thetakoverNet profit attributable to the
                                                -1,144,673.00                        -2,662,785.00owners of parent companyMinority shareholders’ equity
    VI. Earnings per share:                 --                                  --
    (I)Basic earnings per share                           -0.01                                -0.02
    (II)Diluted earnings per share                          -0.01                                -0.02
    VII. Other comprehensive income                   125,492.00                            -95,420.00
    VIII. Total comprehensive income                -1,019,181.00                        -2,758,205.00Total comprehensive income
    attributable to the owner of the                -1,019,181.00                        -2,758,205.00parent company
                                                            深圳中冠纺织印染股份有限公司 2014 年第一季度报告全文Total comprehensive incomeattributable minority shareholdersLegal representative :Hu YongfengPerson-in-charge of the accounting work:Zhang JinliangPerson-in -charge of the accounting organ:Ren Changzheng4. Profit statement of the Parent Company
    Prepared by: Shenzhen    Victor Onward Textile Industrial Co., Ltd.
                                                                                                              In RMB
    Items                                       Amount in this period                  Amount in last period
    I. Income from the key business                                     415,960.00                             481,360.00
    Lessl:Business cost                                               84,293.00                              84,293.00
    Business tax and surcharge                                           24,633.00                              37,953.00
    Sales expense
    Administrative expense                                        1,229,898.00                           1,198,710.00
    Financial expenses                                          -428,218.00                            -326,156.00Asset impairment lossAdd:Gains from change of forvalue (“-”for loss)Investment gain(“-”for loss)
    Incl: investment gains fromaffiliates
    II. Operational profit(“-”for loss)                         -494,646.00                            -513,440.00Add:Non-business income
    Less:Non- business expenses                                                                                6,927.00Incl:Loss from disposal ofnon-current assets
    III.Total profit(“-”for loss)                                 -494,646.00                            -520,367.00
    Less:Income tax expenses
    IV. Net profit(“-”for net loss)                             -494,646.00                            -520,367.00
    V. Earnings per share:                              --                                     --
    (I)Basic earnings per share                                               0                                      0
    (II)Diluted earnings per share                                             0                                      0
                                                          深圳中冠纺织印染股份有限公司 2014 年第一季度报告全文
    VI. Other comprehensive income                                       0.00                                 0.00
    VII. Total comprehensive income                               -494,646.00                          -520,367.00Legal representative :Hu YongfengPerson-in-charge of the accounting work:Zhang JinliangPerson-in -charge of the accounting organ:Ren Changzheng5. Consolidated Cash flow statement
    Prepared by: Shenzhen    Victor Onward Textile Industrial Co., Ltd.
                                                                                                        In RMB
               Items                       Amount in this period                Amount in last period
    I.Cash flows      from     operatingactivitiesCash received from sales of goods
                                                             2,432,585.00                         2,917,174.00or rending of servicesNet increase of customer depositsand capital kept for brothercompanyNet increase of loans from centralbankNet increase of inter-bank loansfrom other financial bodiesCash received against originalinsurance contract
    Net     cash    received          fromreinsurance businessNet increase of client deposit andinvestmentNet increase of trade financialasset disposalCash received as interest,processing fee and commissionNet increase of inter-bank fundreceived
    Net increase      of   repurchasingbusiness
                                      深圳中冠纺织印染股份有限公司 2014 年第一季度报告全文Tax returnedOther cash received from business
                                        1,159,632.00                           339,164.00operation
    Sub-total of cash inflow                3,592,217.00                          3,256,338.00Cash paid for purchasing ofmerchandise and servicesNet increase of client trade andadvanceNet increase of savings n centralbank and brother companyCash paid for original contractclaimCash paid for interest, processingfee and commissionCash paid for policy dividendCash paid to staffs or paid for
                                          781,251.00                           743,566.00staffs
    Taxes paid                                546,399.00                           360,551.00Other cash paid for business
                                          968,826.00                          1,164,975.00activitiesSub-total of cash outflow from
                                        2,296,476.00                          2,269,092.00business activitiesCash flow generated by business
                                        1,295,741.00                           987,246.00operation, net
    II.Cash flow       generated    byinvestingCash received from investmentretrievingCash received as investment gainsNet cash retrieved from disposal
    of fixed assets, intangible assets,                                             37,000.00and other long-term assetsNet cash received from disposal
    of    subsidiaries   or   otheroperational unitsNet cash received from disposal
    of    subsidiaries   or   otheroperational units
                                        深圳中冠纺织印染股份有限公司 2014 年第一季度报告全文Sub-total of cash inflow due to
                                                                                  37,000.00investment activitiesCash paid for construction of
    fixed assets, intangible assets and          30,895.00                            31,461.00other long-term assetsCash paid as investmentNet increase of loan againstpledge
    Net     cash     received    fromsubsidiaries and other operationalunitsOther cash paid for investmentactivities
    Sub-total of cash outflow     due to
                                             30,895.00                            31,461.00investment activitiesNet cash flow generated by
                                            -30,895.00                              5,539.00investment
    III.Cash flow      generated      byfinancingCash received as investmentIncl: Cash received as investmentfrom minor shareholdersCash received as loansCash received from bond placing
    Other financing       –related   ashreceivedSub-total of cash inflow fromfinancing activities
    Cash to repay debts                                                            10,000,000.00Cash paid as dividend, profit, orinterestsIncl: Dividend and profit paid bysubsidiaries to minor shareholdersOther cash paid for financingactivitiesSub-total of cash outflow due to
                                                                               10,000,000.00financing activities
    Net cash flow generated by                                                    -10,000,000.00
                                                          深圳中冠纺织印染股份有限公司 2014 年第一季度报告全文financingIV. Influence of exchange rate
    alternation on cash and cash                                  356,477.00                           -100,570.00equivalentsV.Net increase of cash and cash
                                                             1,621,323.00                        -9,107,785.00equivalentsAdd: balance of cash and cash
    equivalents at the beginning of                             63,502,910.00                        52,227,262.00termVI.Balance of cash and cash
                                                            65,124,233.00                        43,119,477.00equivalents at the end of termLegal representative :Hu YongfengPerson-in-charge of the accounting work:Zhang JinliangPerson-in -charge of the accounting organ:Ren Changzheng6. Cash flow statement of the Parent Company
    Prepared by: Shenzhen   Victor Onward Textile Industrial Co., Ltd.
                                                                                                        In RMB
               Items                      Amount in this period                 Amount in last period
    I.Cash flows     from      operatingactivitiesCash received from sales of goods
                                                              415,960.00                           939,510.00or rending of servicesTax returnedOther cash received from business
                                                              654,549.00                           419,915.00operation
    Sub-total of cash inflow                                     1,070,509.00                         1,359,425.00Cash paid for purchasing ofmerchandise and servicesCash paid to staffs or paid for
                                                              523,197.00                           524,657.00staffs
    Taxes paid                                                    344,353.00                           162,342.00Other cash paid for business
                                                              587,150.00                           486,750.00activities
                                      深圳中冠纺织印染股份有限公司 2014 年第一季度报告全文Sub-total of cash outflow from
                                        1,454,700.00                          1,173,749.00business activitiesCash flow generated by business
                                         -384,191.00                           185,676.00operation, net
    II.Cash flow       generated    byinvestingCash received from investmentretrievingCash received as investment gainsNet cash retrieved from disposal
    of fixed assets, intangible assets,                                             22,000.00and other long-term assetsNet cash received from disposal
    of    subsidiaries   or   otheroperational units
    Other cash receivable           forinvestment activitiesSub-total of cash inflow due to
                                                                                22,000.00investment activitiesCash paid for construction offixed assets, intangible assets andother long-term assetsCash paid as investment
    Net     cash     received    fromsubsidiaries and other operationalunitsOther cash paid for investmentactivities
    Sub-total of cash outflow   due toinvestment activitiesNet cash flow generated by
                                                                                22,000.00investment
    III.Cash flow      generated    byfinancingCash received from absorbinginvestmentCash received as loansCash received from bond placing
                                                           深圳中冠纺织印染股份有限公司 2014 年第一季度报告全文
    Other financing       –related   ashreceivedSub-total of cash inflow fromfinancing activities
    Cash to repay debts                                                                               10,000,000.00Cash paid as dividend, profit, orinterestsOther cash paid for financingactivitiesSub-total of cash outflow due to
                                                                                                  10,000,000.00financing activitiesNet cash flow generated by
                                                                                                 -10,000,000.00financingIV. Influence of exchange ratealternation on cash and cashequivalentsV.Net increase of cash and cash
                                                              -384,191.00                         -9,792,324.00equivalentsAdd: balance of cash and cash
    equivalents at the beginning of                             10,557,501.00                         17,293,510.00termVI.Balance of cash and cash
                                                            10,173,310.00                          7,501,186.00equivalents at the end of termLegal representative :Hu YongfengPerson-in-charge of the accounting work:Zhang JinliangPerson-in -charge of the accounting organ:Ren ChangzhengII. Report of the AuditorsWhether the First Quarter Report has been audited or not□ Yes √ NoThe First Quarter Report hasn’t been audited.
                          The Board of Directors of Shenzhen Victor Onward Textile Industrial Co., Ltd.
                                                                 Board chairman Yongfeng
                                                                     April 24, 2014