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特力A(000025)公告正文

特 力B:2016年第一季度报告全文(英文版)

公告日期:2016-04-29

                   深圳市特力(集团)股份有限公司 2016 年第一季度报告全文




Shenzhen Tellus Holding Co., Ltd.
    First Quarterly Report 2016




            April 2016




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                                             深圳市特力(集团)股份有限公司 2016 年第一季度报告全文




                          Section I. Important Notes

Board of Directors and the Supervisory Committee of Shenzhen Tellus Holding
Co., Ltd. (hereinafter referred to as the Company) and its directors, supervisors
and senior executives should guarantee the reality, accuracy and completion of
the quarterly report, there are no any fictitious statements, misleading
statements or important omissions carried in this report, and shall take legal
responsibilities, individual and/or joint.
All Directors are attended the Board Meeting for Quarterly Report deliberation.
Lv Hang, Person in charge of the Company, Yang Jianping, person in charge of
accounting works and Ke Wensheng, person in charge of accounting organ
(accounting officer) hereby confirm that the Financial Report of this Quarterly
Report is authentic, accurate and complete.




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                                                                          深圳市特力(集团)股份有限公司 2016 年第一季度报告全文




           Section II. Main financial data and changes of shareholders

I. Main accounting data and financial indexes

Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accounting
error correction or not
□ Yes   √ No

                                                                                                              Changes of this period over
                                                     Current Period             Same period of last year
                                                                                                                same period of last year
Operating income (RMB)                                       79,720,863.02                   81,285,344.52                           -1.92%
Net profit attributable to shareholders of
                                                                 6,162,157.52                   788,018.17                         681.98%
the listed company(RMB)
Net profit attributable to shareholders of
the listed company after deducting                               5,079,579.34                   767,054.77                         562.22%
non-recurring gains and losses(RMB)
Net cash flow arising from operating
                                                                 3,260,759.65                29,617,359.36                         -88.99%
activities(RMB)

Basic earnings per share (RMB/Share)                                  0.0207                        0.0032                         546.88%
Diluted earnings per share (RMB/Share)                                0.0207                        0.0032                         546.88%
Weighted average ROE                                                   0.71%                        0.15%                            0.56%

                                                                                                              Changes of this period-end
                                               At the end of the reporting
                                                                                 At the end of last year      over same period-end of last
                                                          period
                                                                                                                            year
Total assets (RMB)                                        1,146,134,010.72               1,168,667,927.49                            -1.93%
Net assets attributable to shareholder of
                                                            874,331,209.84                 868,169,052.32                            0.71%
listed company (RMB)

Items of non-recurring gains and losses
√ Applicable    □ Not applicable
                                                                                                                                     In RMB
                                                                        Amount from year-begin to
                                Item                                                                                  Note
                                                                                period-end

Gains/losses from the disposal of non-current asset (including the
                                                                                             -1,237.84
write-off that accrued for impairment of assets)

Profit and loss of assets delegation on others’ investment or                                           Bank guaranteed financial
                                                                                        1,079,369.87
management                                                                                               products revenue

Other non-operating income and expenditure except for the
                                                                                             5,715.59
aforementioned items

Less: Impact on income tax                                                                     869.44



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                                                                            深圳市特力(集团)股份有限公司 2016 年第一季度报告全文


       Impact on minority shareholders’ equity (post-tax)                                        400.00

Total                                                                                      1,082,578.18                  --

Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Extraordinary Profit/loss, explain reasons
□ Applicable √ Not applicable

In reporting period, the Company has no particular about items defined as recurring profit (gain)/loss according to the lists of

extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to

the Public --- Extraordinary Profit/loss


II. Total number of shareholders at the end of this report period and top ten shareholders

1. Number of common shareholders and preference shareholders with voting rights recovered and top ten
common shareholders
                                                                                                                                 In shares

                                                                            Total preference shareholders
Total    number     of   common                                             with voting rights recovered at
shareholders at the end of report                                  66,810                                                                0
period                                                                      end of reporting period (if
                                                                            applicable)

                                                             Top ten shareholders

                                                                                      Amount of         Number of share pledged/frozen
  Shareholder’s         Nature of         Proportion of      Amount of shares
                                                                                    restricted shares
        name            shareholder         shares held             held                                State of share        Amount
                                                                                          held

SHENZHEN             State-owned
                                                  51.09%           151,870,560            20,587,056
SDG CO., LTD.        corporation

Shenzhen
Zhiyuan Fuhai
Jewelry Industry Domestic
Investment           non-state-owned              23.88%            71,000,000            71,000,000
Enterprises          corporation
(limited
partnership)

KGI ASIA             Foreign
                                                    2.45%             7,292,417
LIMITED              corporation

UOB Kai Hian
                     Foreign
(Hongkong) Co.,                                     0.40%             1,195,593
                     corporation
Ltd.

GUOTAI               Foreign
                                                    0.37%             1,094,032
JUNAN                corporation


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SECURITIES(H
ONGKONG)
LIMITED

                   Foreign nature
Weng Zhengwen                                0.20%            604,499
                   person

                   Foreign nature
Zeng Huiming                                 0.13%            400,000
                   person

Guoyuan
Securities         Foreign
                                             0.13%            379,078
Brokerage (Hong corporation
Kong) Co., Ltd.

                   Domestic nature
Li Guangxin                                  0.11%            314,158
                   person

                   Domestic nature
He Xing                                      0.10%             311,400
                   person

                                     Top ten shareholders with unrestricted shares held

                                                                                                        Type of shares
          Shareholder’s name               Amount of unrestricted shares held
                                                                                                     Type           Amount

                                                                                            RMB ordinary
SHENZHEN SDG CO., LTD.                                                       131,283,504                            131,283,504
                                                                                            shares

                                                                                            Domestically
KGI ASIA LIMITED                                                                 7,292,417 listed foreign                7,292,417
                                                                                            shares

                                                                                            Domestically
UOB Kai Hian (Hongkong) Co.,
                                                                                 1,195,593 listed foreign                1,195,593
Ltd.
                                                                                            shares

GUOTAI JUNAN                                                                                Domestically
SECURITIES(HONGKONG)                                                             1,094,032 listed foreign                1,094,032
LIMITED                                                                                     shares

                                                                                            Domestically
Weng Zhengwen                                                                     604,499 listed foreign                  604,499
                                                                                            shares

                                                                                            Domestically
Zeng Huiming                                                                      400,000 listed foreign                  400,000
                                                                                            shares

                                                                                            Domestically
Guoyuan Securities Brokerage
                                                                                  379,078 listed foreign                  379,078
(Hong Kong) Co., Ltd.
                                                                                            shares

                                                                                            Domestically
Li Guangxin                                                                       314,158                                 314,158
                                                                                            listed foreign

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                                                                          深圳市特力(集团)股份有限公司 2016 年第一季度报告全文


                                                                                                 shares

                                                                                                 Domestically
He Xing                                                                                  311,400 listed foreign              311,400
                                                                                                 shares

                                                                                                 Domestically
Huang Chuyun                                                                            265,900 listed foreign               265,900
                                                                                                 shares

                                           Among the top ten shareholders, there exists no associated relationship between the
                                           state-owned legal person’s shareholders Shenzhen SDG Co., Ltd and other shareholders, and
Explanation        on         associated
                                           they do not belong to the consistent actionist regulated by the Management Measure of
relationship among the aforesaid
                                           Information Disclosure on Change of Shareholding for Listed Companies. For the other
shareholders
                                           shareholders of circulation share, the Company is unknown whether they belong to the
                                           consistent actionist.

Explanation on top ten common
shareholders involving margin              N/A
business (if applicable)

Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a buy-back agreement
dealing in reporting period
□ Yes √ No
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company have no buy-back
agreement dealing in reporting period.

2. Total shareholders with preferred stock held and shares held by top ten shareholders with preferred
stock held
□ Applicable √ Not applicable




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                                                                    深圳市特力(集团)股份有限公司 2016 年第一季度报告全文




                                         Section III. Significant Events

I. Particulars about material changes in items of main accounting statement and financial
index and explanations of reasons

√ Applicable □Not applicable
Balance sheet       Balance at            Balance at        Change amount       Changes
                                                                                                        Reasons of changes
                    period-end            year-begin                             ratio
                        2,686,227.71           562,051.31       2,124,176.40      377.93% Mainly due to an increase in accounts
Account
                                                                                           receivable for automobiles of subsidiary
receivable
                                                                                           Huari Toyota Company.

                        9,828,536.01        16,151,336.61       -6,322,800.60     -39.15% Mainly      because         the   inventory   of
Inventory                                                                                  automobiles in the subsidiary Huari Toyota
                                                                                           Company has decreased.

                        4,147,623.49        11,460,807.66       -7,313,184.17     -63.81% Mainly because the subsidiary Huari Toyota
Accounts
received       in                                                                          Company has achieved sales carry-over
advance
                                                                                           funds in advance for automobiles.

Undistributed           9,904,418.01         3,742,260.49       6,162,157.52      164.66% Net profit attributable to the parent company
profit                                                                                     in current period has increased.


      Item          Amount at this     At same period of    Change amount       Changes
                                                                                                        Reasons of changes
                       year                 last year                            ratio
Financial                407,067.07          3,911,379.82       -3,504,312.75     -89.59% Mainly because repayment of loans has
expenses                                                                                   reduced the interest expenses.

Total profit            6,476,926.40           793,410.55       5,683,515.85      716.34% Mainly because the increase in rental
                                                                                           income for the quarter year-on-year ,and the
                                                                                           repayment of loans led to interest expense
                                                                                           decrease year on year which cause an
                                                                                           increase in total profit

Net profit              6,184,364.57           430,573.15       5,753,791.42     1336.31% Mainly because the increase in rental
                                                                                           income for the quarter year-on-year ,and the
                                                                                           repayment of loans led to interest expense
                                                                                           decrease year on year which cause an
                                                                                           increase in total profit

Net profit              6,162,157.52           788,018.17       5,374,139.35      681.98% Mainly because the increase in rental
attributable to                                                                            income for the quarter year-on-year ,and the
the parent                                                                                 repayment of loans led to interest expense
company                                                                                    decrease year on year which cause an
                                                                                           increase in total profit

Net          cash       3,260,759.65        29,617,359.36      -26,356,599.71     -88.99% Mainly because the subsidiary Huari Toyota


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flows        from                                                                                    Company has devoted greater efforts to sell
operating                                                                                            the stocks of the beginning of the year in the
activities                                                                                           same period of last year.

Net          cash        10,694,567.83            -32,216,038.75          42,910,606.58              Mainly because the redemption of financial
flows        from                                                                                    products at the beginning of the year has
investment                                                                                           increased cash inflows.
activities
Net          cash       -12,387,491.67            622,869,185.00        -635,256,676.67              Mainly because the private placement in the
flows        from                                                                                    same period of last year has fully funded,
financing                                                                                            resulting in cash inflows.
activities


II. Analysis and explanation of significant events and their influence and solutions

√ Applicable □Not applicable
The company has received the “Notification letter about Shenzhen SDG Co., Ltd. plans to reduce holding some
shares of Tellus A” issued by the controlling shareholder Shenzhen SDG Co., Ltd. (hereinafter referred to as
“SDG”) on April 11, 2016, SDG plans to reduce holding at most 5,945,632 shares of the Company (accounting for
no more than 2% of the Company’s total capital) by aggregate auction within 6 months 15 days after the date of
announcement.
                                                                                              Information index for temporary report
                      Overview                                   Date for disclosure
                                                                                                               disclosure

                                                                                            "Securities       Times",        "Hong     Kong
                                                                                            Commercial                Daily"              and
                                                                                            www.cninfo.com.cn:          No.    2016-020    –
Shenzhen SDG Co., Ltd. plans to reduce
                                                    2016-04-12                              “Announcement              on        controlling
holding some shares of Tellus A
                                                                                            shareholders’ plan for reducing holding
                                                                                            shares of Shenzhen Tellus (Group) Co.,
                                                                                            Ltd.”

III. Commitments that the company, shareholders, actual controller, offeror, directors, supervisors, senior
management or other related parties have fulfilled during the reporting period and have not yet fulfilled by
the end of reporting period
√Applicable        □ Not applicable

                                        Type of                                                        Commitm Commitm Implementa
 Commitments           Promise                                     Content of commitments
                                 commitments                                                            ent date ent term tion

                                                   (I) Commitments during the work of Share Merger
                                                   Reform of the Company:
                                                1. Commitments on Lock-up period
Commitments                      Commitments                                                2005-12-2           Implementi
for share merger SDG             for      share (1) In accordance with the Measures for the           Long-term
reform                           merger reform Administration of the Share Merger Reform of 5                   ng

                                                   Listed Companies, SDG would abide by the various
                                                   laws, regulations and rules, and perform its



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                                深圳市特力(集团)股份有限公司 2016 年第一季度报告全文


statutory commitment duty. (2) Apart from the
above-mentioned statutory commitment, SDG also
made the following special commitment: with 36
months since the day the reform plan starts to take
effect, SDG would not list at Shenzhen Stock
Exchange and sell the shares of Tellus it held
(except for the shares used to promote the
administration       level     of    Tellus).    (3)    The
administration level would abide by the laws,
regulations and rules, and perform its statutory
commitment duty. (4) SDG made the commitment:
“The Promiser hereby promises that, if the Promiser
failed to fulfill its commitment or not fully fulfill its
commitment,         it    would      compensate        other
shareholders for their losses suffered thereafter”. (5)
SDG declared: “The Promiser would dutifully
fulfill its commitments and shoulder corresponding
legal responsibilities. The Promiser would transfer
the shares held by it only if the assignee agree and
have the ability to shoulder the commitment
responsibility.”
2. Special commitment concerning the incentive
mechanism
In order to effectively boost the core management
level and business backbones for long, SDG would
take out its shares, not exceeding 10% in total
number after the Share Merger Reform, and apply
them to the boost of the administration level. The
shares    would      be      sold   to   the    Company’s
administrative level over 3 years, with the selling
price being the net asset value per share audited
during the period nearest to the implementation.
Before the implementation of the promoting plan by
share selling each year, the administration level
must prepay the Company a risk responsibility
fund, i.e. 20% of the planned selling price; Should
the work of the performance examination set by the
Board failed to be finished, the paid risk
responsibility fund would not be refunded and shall
be owned by the Company. Detailed rules
concerning the limitations on the administration
level, such as the subscription conditions and risk
responsibility fund, and boost plans would be set by
the Board and submitted to relevant departments for



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                                                                            深圳市特力(集团)股份有限公司 2016 年第一季度报告全文


                                             approval. The implementation of the shares for
                                             promoting would be conducted strictly according to
                                             relevant laws and regulations, and the circulation
                                             conditions of these shares would be in conformity
                                             with relevant regulations set by the Shenzhen Stock
                                             Exchange.

                                             3. Relevant expenses of this Share Merger Reform
                                             of Tellus would be paid by SDG.

                                             SDG, the controlling shareholder of the Company,
                                             made      a   special   commitment       of   incentive
                                             mechanism in Share Merger Reform. After that
                                             SASAC and Ministry of Finance jointly issued a
                                             “Trial   Approach      of     Equity   Incentive   for
                                             State-Owned Listed Companies”, and CSRC issued
                                             the “Incentive Management on Shares of Listed
                                             Companies (Trial)”, after comparison, the above
                                             mentioned commitments made by SDG are out of
                                Commitments the relevant regulations and requirement, relevant
                                for
                                             commitments are not implemented as a result. On 2014-06-2           Implementi
                      SDG       Share Merger                                                           2016-6-30
                                             26   June    2014,     the   Company actively 6                     ng
                                Reform
                                             communicating with SDG, and promised that on the
                                             premise of subjecting to applicable laws and
                                             regulations and supervision requirements, continues
                                             to support the Company promote a long-term
                                             incentive plan as soon as possible in stead of the
                                             commitments made in share merger reform, and
                                             complete the long-term incentive plan before 30
                                             June 2016. At that time, the long-term incentive
                                             plan shall be implemented after submit for
                                             deliberation in General Meeting.

Commitments in
report           of
acquisition      or
equity change

Commitments in
assets
reorganization

                                             The commitments to the fulfillment of information
Commitments           ShenZhe                disclosure     about     the      company     business
make in initial n Tellus                     development are as follows: except for the 2014-10-1                      Implementi
                                Other                                                                      Long-term
public   offering Holding                    information has been disclosed publicly, the 7                            ng
or re-financing       Co.,Ltd                Company has not had the disclosed information
                                             about asset acquisition and business development


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                                                                      深圳市特力(集团)股份有限公司 2016 年第一季度报告全文


                                           that has not been disclosed within one year. In the
                                           future, the company shall timely, accurately and
                                           adequately   disclose   the   relevant   information
                                           according to the progress of new business and the
                                           related requirements.

Equity incentive
commitment

                                           In order to avoid the horizontal competition, the
                                           company’s controlling shareholder, Shenzhen SDG
                                           Co., Ltd., has issued the “commitment letter about
                                           the avoidance of horizontal competition” on May
                                           26, 2014. The full commitment letter is as follows:
                             Horizontal                                                            2014-05-2               Implementi
                   SDG                     1. The Company and other enterprises controlled by                  Long-term
                             Competition                                                           6                       ng
                                           the Company except Test Rite Group haven’t
                                           occupied in any business that could substantially
                                           compete with the main businesses of Tellus Group,
                                           and have no horizontal competition relationship
                                           with Tellus Group.

                                           From 2014 to 2016, the company’s profits will first
                                           be used to cover the losses of previous years; after
                                           making up for losses of previous years, in the
                                           premise that the company’s profits and cash flow
                                           can meet the company's normal operations and
Other                                      long-term development, reward shareholders, the
commitments
for medium and                             company will implement positive profit distribution
small                                      approaches to reward the shareholders, details are
shareholders
                                           as follows: 1. The company’s profit distribution can
                                           adopt cash, stock or the combination of cash and
                                           stock or other methods permitted by law. The
                   ShenZhe
                                           foreign currency conversion rates of domestically
                   n Tellus Commitments                                                            2014-06-0 2016-12-3 Implementi
                                           listed foreign shares dividend are calculated
                   Holding for dividend                                                            3           1           ng
                                           according to the standard price of HK dollar against
                   Co.,Ltd
                                           RMB announced by People's Bank of China on the
                                           first working day after the resolution date of the
                                           shareholders' meeting. The company prefers to
                                           adopt the cash dividends to distribute profits. In
                                           order to maintain the adaptability between capital
                                           expansion and performance growth, in the premise
                                           of ensuring the full cash dividend distributions and
                                           the rationality of equity scale and equity structure,
                                           the company can adopt the stock dividend methods
                                           to distribute profits. 2. According to the "Company
                                           Law" and other relevant laws and the provisions of



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the company’s "Articles of Association", following
conditions should be satisfied when the company
implements cash dividends: (1) the company's
annual distributable profits (i.e. the after-tax profits
after making up for losses and withdrawing
accumulation     funds) are positive value,           the
implementation of cash dividends will not affect the
company's subsequent continuing operations; (2)
the audit institution issues the standard audit report
with clean opinion to the company's annual
financial report; (3) the company has no significant
investment plans or significant cash outlay (except
for fund-raising projects). Major investment plans
or significant cash outlay refer to: the accumulated
expenditures the company plans to used for
investments abroad, acquisition of assets, or
purchase of equipments within the next 12 months
reach or exceed 30% of the net assets audited in the
latest period. 3. In the premise of meeting the
conditions of cash dividends and ensuring the
company’s     normal    operation     and    long-term
development, the company makes cash dividends
once a year in principle, the company’s board of
directors can propose the company to make interim
cash dividends in accordance with the company's
profitability and capital demand conditions. The
proportion of cash dividends in profits available for
distribution and in distribution of profits should
meet the following requirements: (1) in principle,
the company’s profits distributed in cash every year
should not be less than 10% of profit available for
distribution realized in the same year, and the
company’s profits accumulatively distributed in
cash in the last three years should not be less than
30% of the annual average profit available for
distribution realized in the last three years. (2) if the
company’s development stage belongs to mature
stage and there is no significant capital expenditure
arrangement,     when     distributing     profits,   the
minimum proportion of cash dividends in this profit
distribution should be 80%; (3) if the company’s
development stage belongs to mature stage and
there    are     significant     capital     expenditure
arrangements,     when     distributing    profits,   the


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                                                                          深圳市特力(集团)股份有限公司 2016 年第一季度报告全文


                                         minimum proportion of cash dividends in this profit
                                         distribution should be 40%; (4) if the company’s
                                         development stage belongs to growth stage and
                                         there      are     significant     capital     expenditure
                                         arrangements,       when    distributing      profits,     the
                                         minimum proportion of cash dividends in this profit
                                         distribution should be 20%; when the company's
                                         development stage is not easy to be differed but
                                         there      are     significant     capital     expenditure
                                         arrangements, please handle according to the
                                         preceding provisions. 4. On the condition of
                                         meeting the cash dividend distribution, if the
                                         company's operation revenue and net profit grow
                                         fast, and the board of directors considers that the
                                         company’s equity scale and equity structure are
                                         reasonable,       the   company     can      propose       and
                                         implement the dividend distribution plans except
                                         proposing the cash dividend distribution plans.
                                         When allocating stock dividend every time, the
                                         stock dividend per 10 shares should be no less than
                                         1 share. Stock allocation can be implemented
                                         individually or in combination of cash dividends.
                                         When confirming the exact amount of profit
                                         distribution by stock, the company should fully
                                         consider     if   the   general    capital    after      profit
                                         distribution by stock matches with the company’s
                                         current operation scale and profit growth rate and
                                         consider the impact on future financing so as to
                                         make sure the allocation plans meet the overall
                                         interests of all shareholders.

Completed        on
                      Y
time(Y/N)

If the
commitments is
not fulfilled on
time, shall
                      Not applicable
explain the
specify reason
and the next
work plan


IV. Forecast of operation performance from Jan. – June of 2016

Estimation on accumulative net profit from the beginning of the year to the end of next report period to be loss probably or the

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warning of its material change compared with the corresponding period of the last year and explanation on reason
□ Applicable   √ Not applicable


V. Securities Investment

□ Applicable   √ Not applicable

No security investment in Period.


VI. Derivative investment

□ Applicable   √ Not applicable

No derivative investment in Period.
VII. Registration form for receiving research, communication and interview in the report
period
□ Applicable   √ Not applicable

No registration form for receiving research, communication or interview in the Period.


VIII. Guarantee outside against the regulation

□Applicable √Not applicable

The Company had no guarantee outside against the regulation in the reporting period.
IX. Non-operational fund occupation from controlling shareholders and its related party
□ Applicable √ Not applicable
The Company had no non-operational fund occupation form controlling shareholders and its related party in the period.




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                                                              深圳市特力(集团)股份有限公司 2016 年第一季度报告全文




                                        Section IV. Financial Statement

I. Financial statement

1. Consolidate balance sheet

Prepared by ShenZhen Tellus Holding Co.,Ltd.
                                                     2016-03-31
                                                                                                              In RMB

                      Items                      Closing balance                       Opening balance

Current assets:

       Monetary funds                                         160,752,546.74                        159,184,710.93

       Settlement provisions

       Capital lent

       Financial liability measured by fair
value and with variation reckoned into
current gains/losses

       Derivative financial liability

       Notes receivable

       Accounts receivable                                          2,686,227.71                          562,051.31

       Accounts paid in advance                                     5,853,249.29                         6,454,769.40

       Insurance receivable

       Reinsurance receivables
     Contract reserve of reinsurance
receivable
       Interest receivable                                                                                348,833.33

       Dividend receivable

       Other receivables                                           10,685,204.82                     11,128,001.89

       Purchase restituted finance asset

       Inventories                                                  9,828,536.01                     16,151,336.61

       Divided into assets held for sale
       Non-current asset due within one
year
       Other current assets                                   132,019,674.72                        165,565,445.21

Total current assets                                          321,825,439.29                        359,395,148.68

Non-current assets:



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                                                 深圳市特力(集团)股份有限公司 2016 年第一季度报告全文


     Loans and payments on behalf

     Finance asset available for sales            10,478,985.77                        10,478,985.77

     Held-to-maturity investment

     Long-term account receivable

     Long-term equity investment                 219,702,355.51                       220,180,721.29

     Investment property                          80,970,208.64                        82,100,133.48

     Fixed assets                                134,603,133.57                       136,583,565.00

     Construction in progress                    298,081,462.00                       279,056,650.35

     Engineering material

     Disposal of fixed asset

     Productive biological asset

     Oil and gas asset

     Intangible assets                            52,669,658.22                        52,985,273.37
    Expense         on    Research        and
Development
     Goodwill
    Long-term          expenses      to    be
                                                   1,424,059.96                          1,499,006.24
apportioned
     Deferred income tax asset                    24,478,707.76                        24,488,443.31

     Other non-current asset                       1,900,000.00                          1,900,000.00

Total non-current asset                          824,308,571.43                       809,272,778.81

Total assets                                    1,146,134,010.72                     1,168,667,927.49

Current liabilities:

     Short-term loans

     Loan from central bank
    Absorbing deposit and interbank
deposit
     Capital borrowed

     Financial liability measured by fair
value and with variation reckoned into
current gains/losses

     Derivative financial liability

     Notes payable

     Accounts payable                             23,490,306.91                        27,417,068.61

     Accounts received in advance                  4,147,623.49                         11,460,807.66
     Selling     financial        asset    of
repurchase

     Commission           charge          and


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                                              深圳市特力(集团)股份有限公司 2016 年第一季度报告全文


commission payable
       Wage payable                            19,188,524.06                        19,639,738.81

       Taxes payable                            9,489,018.24                        10,043,901.26

       Interest payable

       Dividend payable

       Other accounts payable                 177,386,892.49                       193,797,786.68

       Reinsurance payables

       Insurance contract reserve

       Security trading of agency

       Security sales of agency

       Divided into liability held for sale
       Non-current liabilities due within 1
year
Other current liabilities

Total current liabilities                     233,702,365.19                       262,359,303.02

Non-current liabilities:

       Long-term loans

       Bonds payable

         Including: preferred stock

                 Perpetual capital
securities

       Long-term account payable               13,972,779.67                        13,972,779.67

       Long-term wages payable

       Special accounts payable

       Projected liabilities

       Deferred income

       Deferred income tax liabilities           416,741.61                            478,085.12

       Other non-current liabilities           13,269,356.04                        13,269,356.04

Total non-current liabilities                  27,658,877.32                        27,720,220.83

Total liabilities                             261,361,242.51                       290,079,523.85

Owner’s equity:

       Share capital                          297,281,600.00                       297,281,600.00

       Other equity instrument

         Including: preferred stock

                 Perpetual capital
securities


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                                                                  深圳市特力(集团)股份有限公司 2016 年第一季度报告全文


     Capital public reserve                                       564,192,605.51                         564,192,605.51

     Less: Inventory shares

     Other comprehensive income

     Reasonable reserve

     Surplus public reserve                                             2,952,586.32                          2,952,586.32

     Provision of general risk

     Retained profit                                                    9,904,418.01                          3,742,260.49
Total owner’s equity attributable to
                                                                  874,331,209.84                         868,169,052.32
parent company
Minority interests                                                     10,441,558.37                      10,419,351.32

Total owner’s equity                                             884,772,768.21                         878,588,403.64

Total liabilities and owner’s equity                            1,146,134,010.72                      1,168,667,927.49


Legal representative: Lv Hang                                      Person in charger of accounting works: Yang Jianping
Person in charger of accounting organ: Ke Wensheng


2. Balance Sheet of Parent Company

                                                                                                                   In RMB

                     Item                            Closing balance                        Opening balance

Current assets:

     Monetary funds                                                    89,885,229.30                      80,301,551.68

     Financial liability measured by fair
value and with variation reckoned into
current gains/losses

     Derivative financial liability

     Notes receivable
     Accounts receivable

     Account paid in advance                                             101,280.00                            101,280.00

     Interest receivable                                                                                       348,833.33

     Dividends receivable

     Other receivables                                                 97,806,266.08                      93,744,827.52

     Inventories

     Divided into assets held for sale

     Non-current assets maturing within
one year

     Other current assets                                         130,000,000.00                         145,000,000.00



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                                             深圳市特力(集团)股份有限公司 2016 年第一季度报告全文


Total current assets                         317,792,775.38                       319,496,492.53

Non-current assets:

     Available-for-sale financial assets      10,176,617.20                        10,176,617.20

     Held-to-maturity investments

     Long-term receivables

     Long-term equity investments            682,852,270.03                       682,223,207.17

     Investment property                      52,037,324.44                        52,808,715.01

     Fixed assets                             16,855,085.62                        17,096,105.47

     Construction in progress                    362,279.69                           362,279.69

     Project materials

     Disposal of fixed assets

     Productive biological assets

     Oil and natural gas assets

     Intangible assets                           448,418.10                           478,422.33

     Research and development costs

     Goodwill

     Long-term deferred expenses                  30,731.39                            31,644.20

     Deferred income tax assets               13,937,460.69                        13,947,196.24

     Other non-current assets

Total non-current assets                     776,700,187.16                       777,124,187.31

Total assets                                1,094,492,962.54                     1,096,620,679.84

Current liabilities:

     Short-term borrowings

     Financial liability measured by fair
value and with variation reckoned into
current gains/losses

     Derivative financial liability

     Notes payable

     Accounts payable

     Accounts received in advance

     Wage payable                              5,461,463.21                          5,247,871.02

     Taxes payable                               524,088.91                           592,579.23

     Interest payable

     Dividend payable




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       Other accounts payable                  312,649,139.06                       320,935,774.45

       Divided into liability held for sale

       Non-current liabilities due within 1
year

       Other current liabilities

Total current liabilities                      318,634,691.18                       326,776,224.70

Non-current liabilities:

       Long-term loans

       Bonds payable

         Including: preferred stock

                 Perpetual capital
securities

       Long-term account payable

       Long-term wages payable

       Special accounts payable

       Projected liabilities

       Deferred income

       Deferred income tax liabilities

       Other non-current liabilities

Total non-current liabilities

Total liabilities                              318,634,691.18                       326,776,224.70

Owners’ equity:

       Share capita                            297,281,600.00                       297,281,600.00

       Other equity instrument

         Including: preferred stock

                 Perpetual capital
securities

       Capital public reserve                  560,999,182.23                       560,999,182.23

       Less: Inventory shares

       Other comprehensive income

       Reasonable reserve

       Surplus reserve                           2,952,586.32                          2,952,586.32

       Retained profit                          -85,375,097.19                       -91,388,913.41

Total owner’s equity                          775,858,271.36                       769,844,455.14

Total liabilities and owner’s equity         1,094,492,962.54                     1,096,620,679.84



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3. Consolidated Profit Statement

                                                                                                              In RMB

                      Item                         Current Period                         Last Period

I. Total operating income                                           79,720,863.02                       81,285,344.52

Including: Operating income                                         79,720,863.02                       81,285,344.52

         Interest income

         Insurance gained

         Commission charge and commission
income

II. Total operating cost                                            73,849,418.46                       80,575,356.86

Including: Operating cost                                           58,812,336.35                       63,046,997.78

         Interest expense

         Commission charge and commission
expense

         Cash surrender value

         Net amount of expense of
compensation

         Net amount of withdrawal of
insurance contract reserve

         Bonus expense of guarantee slip

         Reinsurance expense

         Operating tax and extras                                    1,622,851.91                        1,257,341.86

         Sales expenses                                              3,535,418.08                        4,779,425.47

         Administration expenses                                     9,471,745.05                        7,580,211.93

         Financial expenses                                           407,067.07                         3,911,379.82

         Losses of devaluation of asset

         Add: Changing income of fair
value(Loss is listed with “-”)

         Investment income (Loss is listed
                                                                      601,004.09                           55,390.23
with “-”)

         Including: Investment income on
                                                                      -478,365.78                          55,390.23
affiliated company and joint venture

         Exchange income (Loss is listed
with “-”)

III. Operating profit       (Loss is listed with
                                                                     6,472,448.65                         765,377.89
“-”)


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                                                  深圳市特力(集团)股份有限公司 2016 年第一季度报告全文


     Add: Non-operating income                          9,115.59                            28,048.23

            Including: Disposal gains of
non-current asset

     Less: Non-operating expense                        4,637.84                                15.57

            Including: Disposal loss of
                                                        1,237.84
non-current asset

IV. Total Profit    (Loss is listed with “-”)     6,476,926.40                           793,410.55

     Less: Income tax expense                        292,561.83                            362,837.40

V. Net profit (Net loss is listed with “-”)       6,184,364.57                           430,573.15

    Net profit attributable to owner’s of
                                                    6,162,157.52                           788,018.17
parent company

  Minority shareholders’ gains and
                                                      22,207.05                           -357,445.02
losses

VI. Net after-tax of other comprehensive
income

  Net after-tax of other comprehensive
income attributable to owners of parent
company

         (I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss

              1. Changes as a result of
re-measurement of net defined benefit
plan liability or asset

              2. Share of the other
comprehensive income of the investee
accounted for using equity method which
will not be reclassified subsequently to
profit and loss

     (II) Other comprehensive income
items which will be reclassified
subsequently to profit or loss

              1. Share of the other
comprehensive income of the investee
accounted for using equity method which
will be reclassified subsequently to profit
or loss

              2. Gains or losses arising
from changes in fair value of
available-for-sale financial assets


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                                                                      深圳市特力(集团)股份有限公司 2016 年第一季度报告全文


               3. Gains or losses arising
from reclassification of held-to-maturity
investment as available-for-sale financial
assets

               4. The effect hedging portion
of gains or losses arising from cash flow
hedging instruments

               5. Translation differences
arising on translation of foreign currency
financial statements

               6. Other

  Net after-tax of other comprehensive
income attributable to minority
shareholders

VII. Total comprehensive income                                           6,184,364.57                                 430,573.15

     Total comprehensive income
                                                                          6,162,157.52                                 788,018.17
attributable to owners of parent Company

     Total comprehensive income
                                                                             22,207.05                                -357,445.02
attributable to minority shareholders

VIII. Earnings per share:

         (i) Basic earnings per share                                           0.0207                                      0.0032

         (ii) Diluted earnings per share                                        0.0207                                      0.0032

Enterprise combine under the same control in the Period, the combined party realized net profit of 0 Yuan before combination, and
realized 0 Yuan at last period for combined party


Legal representative: Lv Hang                                         Person in charger of accounting works: Yang Jianping
Person in charger of accounting organ: Ke Wensheng


4. Profit Statement of Parent Company

                                                                                                                            In RMB

                     Item                               Current Period                                Last Period

I. Operating income                                                      10,216,640.80                               7,001,308.74

     Less: Operating cost                                                  935,820.47                                  926,624.02

            Operating tax and extras                                       572,131.88                                  392,073.27

            Sales expenses

            Administration expenses                                       4,079,657.55                               3,174,099.92

            Financial expenses                                             244,007.76                                2,889,799.36

            Losses of devaluation of asset



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                                             深圳市特力(集团)股份有限公司 2016 年第一季度报告全文


         Add: Changing income of fair
value(Loss is listed with “-”)

            Investment income (Loss is
                                               1,638,528.63                           522,570.79
listed with “-”)

            Including: Investment income
                                                629,062.86                            522,570.79
on affiliated company and joint venture

II. Operating profit      (Loss is listed
                                               6,023,551.77                           141,282.96
with “-”)

   Add: Non-operating income

              Including: Disposal gains of
non-current asset

         Less: Non-operating expense

              Including: Disposal loss of
non-current asset

III. Total Profit    (Loss is listed with
                                               6,023,551.77                           141,282.96
“-”)

         Less: Income tax expense                 9,735.55                              9,735.55

IV. Net profit (Net loss is listed with
                                               6,013,816.22                           131,547.41
“-”)

V. Net after-tax of other comprehensive
income

          (I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss

                1. Changes as a result of
re-measurement of net defined benefit
plan liability or asset

                2. Share of the other
comprehensive income of the investee
accounted for using equity method
which will not be reclassified
subsequently to profit and loss

          (II) Other comprehensive income
items which will be reclassified
subsequently to profit or loss

                1. Share of the other
comprehensive income of the investee
accounted for using equity method
which will be reclassified subsequently
to profit or loss


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                                                             深圳市特力(集团)股份有限公司 2016 年第一季度报告全文


              2. Gains or losses arising
from changes in fair value of
available-for-sale financial assets

              3. Gains or losses arising
from reclassification of held-to-maturity
investment as available-for-sale
financial assets

              4. The effect hedging
portion of gains or losses arising from
cash flow hedging instruments

              5. Translation differences
arising on translation of foreign
currency financial statements

              6. Other

VI. Total comprehensive income                                 6,013,816.22                            131,547.41

VII. Earnings per share:

        (i) Basic earnings per share                                0.0202                                 0.0005

        (ii) Diluted earnings per share                             0.0202                                 0.0005


5. Consolidated Cash Flow Statement

                                                                                                           In RMB

                   Item                     Current Period                             Last Period

I. Cash flows arising from operating
activities:

       Cash received from selling
commodities and providing labor                              72,495,435.90                           82,736,862.70
services

       Net increase of customer deposit
and interbank deposit

       Net increase of loan from central
bank

       Net increase of capital borrowed
from other financial institution

       Cash received from original
insurance contract fee

  Net cash received from reinsurance
business

    Net increase of insured savings and



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                                               深圳市特力(集团)股份有限公司 2016 年第一季度报告全文


investment

       Net increase of amount from
disposal financial assets that measured
by fair value and with variation
reckoned into current gains/losses

       Cash received from interest,
commission charge and commission

       Net increase of capital borrowed

       Net increase of returned business
capital

       Write-back of tax received

       Other cash received concerning
                                               12,023,046.33                           8,090,089.32
operating activities

Subtotal of cash inflow arising from
                                               84,518,482.23                         90,826,952.02
operating activities

       Cash     paid      for    purchasing
commodities         and    receiving   labor   41,761,809.34                         30,813,742.32
service

       Net increase of customer loans
and advances

       Net increase of deposits in central
bank and interbank

       Cash paid for original insurance
contract compensation

       Cash paid for interest, commission
charge and commission

       Cash paid for bonus of guarantee
slip

       Cash paid to/for staff and workers      17,953,619.18                         15,200,586.22

       Taxes paid                               6,537,460.58                           3,831,180.11

       Other    cash      paid   concerning
                                               15,004,833.48                          11,364,084.01
operating activities

Subtotal of cash outflow arising from
                                               81,257,722.58                         61,209,592.66
operating activities

Net cash flows arising from operating
                                                3,260,759.65                         29,617,359.36
activities

II. Cash flows arising from investing
activities:

       Cash received from recovering           78,000,000.00


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                                               深圳市特力(集团)股份有限公司 2016 年第一季度报告全文


investment

     Cash received from investment
                                                1,079,369.87
income

     Net cash received from disposal of
fixed, intangible and other long-term
assets

     Net cash received from disposal of
subsidiaries and other units

     Other cash received concerning
investing activities

Subtotal of cash inflow from investing
                                               79,079,369.87
activities

     Cash paid for purchasing fixed,
                                               23,384,802.04                         32,216,038.75
intangible and other long-term assets

     Cash paid for investment                  45,000,000.00

     Net increase of mortgaged loans

     Net cash received from
subsidiaries and other units obtained

     Other    cash     paid     concerning
investing activities

Subtotal of cash outflow from investing
                                               68,384,802.04                         32,216,038.75
activities

Net cash flows arising from investing
                                               10,694,567.83                         -32,216,038.75
activities

III. Cash flows arising from financing
activities

     Cash received from absorbing
                                                                                    635,500,000.00
investment

     Including: Cash received from
absorbing     minority        shareholders’
investment by subsidiaries

     Cash received from loans                                                        24,698,215.03

     Cash received from issuing bonds

     Other cash received concerning
financing activities

Subtotal of cash inflow from financing
                                                                                    660,198,215.03
activities

     Cash paid for settling debts                                                    33,100,000.00



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                                                                 深圳市特力(集团)股份有限公司 2016 年第一季度报告全文


     Cash paid for dividend and profit
                                                                 12,387,491.67                             3,952,030.03
distributing or interest paying

     Including: Dividend and profit of
minority shareholder paid by
subsidiaries

     Other         cash     paid   concerning
                                                                                                            277,000.00
financing activities

Subtotal      of     cash     outflow   from
                                                                 12,387,491.67                            37,329,030.03
financing activities

Net cash flows arising from financing
                                                             -12,387,491.67                              622,869,185.00
activities

IV. Influence on cash and cash
equivalents due to fluctuation in
exchange rate

V. Net increase of cash and cash
                                                                  1,567,835.81                           620,270,505.61
equivalents

     Add: Balance of cash and cash
                                                             159,184,710.93                               80,045,669.65
equivalents at the period -begin

VI. Balance of cash and cash
                                                             160,752,546.74                              700,316,175.26
equivalents at the period -end


6. Cash Flow Statement of Parent Company

                                                                                                                In RMB

                      Item                      Current Period                             Last Period

I. Cash flows arising from operating
activities:

     Cash received from selling
commodities and providing labor                                  10,945,790.43                             5,335,204.77
services

     Write-back of tax received

     Other cash received concerning
                                                                 21,207,672.58                             8,621,975.36
operating activities

Subtotal of cash inflow arising from
                                                                 32,153,463.01                            13,957,180.13
operating activities

     Cash paid for purchasing
commodities and receiving labor
service

     Cash paid to/for staff and workers                           5,562,167.56                             5,066,273.89



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                                            深圳市特力(集团)股份有限公司 2016 年第一季度报告全文


     Taxes paid                              1,030,910.74                            686,365.45

     Other    cash     paid    concerning
                                            19,588,782.19                           4,728,429.55
operating activities

Subtotal of cash outflow arising from
                                            26,181,860.49                         10,481,068.89
operating activities

Net cash flows arising from operating
                                             5,971,602.52                           3,476,111.24
activities

II. Cash flows arising from investing
activities:

     Cash received from recovering
                                            55,000,000.00
investment

     Cash received from investment
                                             1,009,465.77
income

     Net cash received from disposal of
fixed, intangible and other long-term
assets

     Net cash received from disposal of
subsidiaries and other units

     Other cash received concerning
investing activities

Subtotal of cash inflow from investing
                                            56,009,465.77
activities

     Cash paid for purchasing fixed,
                                                 9,899.00                             31,680.80
intangible and other long-term assets

     Cash paid for investment               40,000,000.00

     Net      cash     received     from
subsidiaries and other units

     Other    cash     paid    concerning
investing activities

Subtotal of cash outflow from investing
                                            40,009,899.00                             31,680.80
activities

Net cash flows arising from investing
                                            15,999,566.77                             -31,680.80
activities

III. Cash flows arising from financing
activities

     Cash received from absorbing
                                                                                 635,500,000.00
investment

     Cash received from loans



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                                                             深圳市特力(集团)股份有限公司 2016 年第一季度报告全文


     Cash received from issuing bonds

     Other cash received concerning
financing activities

Subtotal of cash inflow from financing
                                                                                                  635,500,000.00
activities

     Cash paid for settling debts                                                                  14,100,000.00

     Cash paid for dividend and profit
                                                             12,387,491.67                           3,197,076.67
distributing or interest paying

     Other          cash     paid   concerning
                                                                                                      277,000.00
financing activities

Subtotal       of     cash     outflow   from
                                                             12,387,491.67                         17,574,076.67
financing activities

Net cash flows arising from financing
                                                             -12,387,491.67                       617,925,923.33
activities

IV. Influence on cash and cash
equivalents due to fluctuation in
exchange rate

V. Net increase of cash and cash
                                                              9,583,677.62                        621,370,353.77
equivalents

     Add: Balance of cash and cash
                                                             80,301,551.68                         26,441,746.73
equivalents at the period -begin

VI. Balance of cash and cash
                                                             89,885,229.30                        647,812,100.50
equivalents at the period -end

II. Audit report
Whether the first quarterly report had been audited or not
□ Yes √ No
The 1Q report of the Company was unaudited.




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