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方大B(200055)公告正文

方大B:2017年第一季度报告全文(英文版)

公告日期:2017-04-25

                       方大集团股份有限公司 2017 年第一季度报告全文




China Fangda Group Co., Ltd.

   2017 First Quarter Report




          April 2017




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                                                 方大集团股份有限公司 2017 年第一季度报告全文




                            I Important Statement


    The members of the Board and the Company guarantee that the quarterly

report is free from any false information, misleading statement or material

omission and are jointly and severally liable for the information’s truthfulness,

accuracy and integrity.

    All the Directors have attended the meeting of the board meeting at which

this report was examined.

    Mr. Xiong Jianming, the Chairman of Board, Mr. Lin Kebin, the Chief

Financial Officer, and Mr. Chen Yonggang, the manager of accounting

department declare: the Financial Report carried in this report is authentic and

completed.




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                                                                                  方大集团股份有限公司 2017 年第一季度报告全文




                                              II. General Information

1. Financial Highlight

The Company retroactively adjusts or restates financial statistics of the previous years because of changes in account policies and
correction of accounting errors.
□ Yes √ No

                                                  This report period           Same period last year         Year-on-year change (%)

Turnover (yuan)                                           573,546,634.49                 469,103,396.78                       22.26%

Net profit attributable to shareholders of
                                                             67,759,233.14                22,188,780.56                      205.38%
the listed company (yuan)

Net profit attributable to the shareholders
of the listed company and after deducting                    64,053,467.14                23,019,578.47                      178.26%
of non-recurring gain/loss (RMB)

Net cash flow generated by business
                                                             -4,846,476.55               -59,715,816.88
operation (RMB)

Basic earnings per share (yuan/share)                                  0.09                           0.03                   200.00%

Diluted Earnings per share (yuan/share)                                0.09                           0.03                   200.00%

Weighted average net income/asset ratio                              2.83%                           1.67%                     1.16%

                                                End of the report period          End of last year            Year-on-year change

Total asset (RMB)                                       6,539,538,168.48               6,787,051,278.08                       -3.65%

Net profit attributable to the shareholders
                                                        2,432,733,187.34               2,364,262,560.28                        2.90%
of the listed company (RMB)

Accidental gain/loss item and amount
√ Applicable □ Inapplicable
                                                                                                                               In RMB

                                                                       Amount from beginning of
                                Items                                  the year to the end of the                  Notes
                                                                              report period

Non-current asset disposal gain/loss (including the write-off part
                                                                                        -71,713.80
for which assets impairment provision is made)

Subsidies accounted into the current income account (except the
government subsidy closely related to the enterprise’s business                        995,063.30
and based on unified national standard quota)

Gain from entrusted investment or assets management                                   1,538,250.89

Gain/loss from change of fair value of investment property
                                                                                        369,591.00
measured at fair value in follow-up measurement


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                                                                                  方大集团股份有限公司 2017 年第一季度报告全文


Other non-business income and expenditures other than the above                        1,455,060.20

Less: Influenced amount of income tax                                                    542,363.59

     Influenced amount of minority shareholders’ equity
                                                                                          38,122.00
(after-tax)

Total                                                                                  3,705,766.00                    --

Explanation statement should be made for accidental gain/loss items defined and accidental
gain/loss items defined as regular gain/loss items according to the Explanation Announcement of
Information Disclosure No. 1 - Non-recurring gain/loss mentioned.
□ Applicable √ Inapplicable
No circumstance that should be defined as recurrent profit and loss according to Explanation Announcement of Information
Disclosure No. 1 - Non-recurring gain/loss occurs in the report period.


2. Total number of shareholders and shareholding of top 10 shareholders by the end of the
report period

1. Ordinary shareholders, preference shareholders with resumed voting rights and top 10 shareholders

                                                                                                                                    In share

                                                                        Number of shareholders of
Number of shareholders of common                                        preferred stocks of which
                                                               41,234                                                                    0
shares at the end of the report period                                  voting rights recovered in the
                                                                        report period (if any)

                                                        Top 10 Shareholders

                        Nature of        Shareholding                             Conditional                Pledging or freezing
   Shareholder                                             Number of shares
                       shareholder        percentage                                shares            Share status          Amount

Shenzhen
Banglin            Domestic
Technologies       non-state legal                8.72%          68,774,273                      0 Pledged                    17,910,000
Development        person
Co., Ltd.

Shengjiu           Foreign legal
                                                  7.27%          57,390,410                      0
Investment Ltd.    person

GUOTAI
JUNAN
                   Foreign legal
SECURITIES(H                                      4.21%          33,221,072                      0
                   person
ONGKONG)
LIMITED

                   Domestic natural
Huang Jupei                                       3.38%          26,686,432                      0
                   person

Gong Qing          Domestic                       2.26%          17,860,992                      0


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                                                                          方大集团股份有限公司 2017 年第一季度报告全文


Cheng Shi Li He non-state legal
Investment           person
Management
Partnership
Enterprise
(limited partner)

                     Domestic natural
Zhou Shijian                                2.05%         16,213,500                  0
                     person

Shenwan
Hongyuan             Foreign legal
                                            1.76%         13,850,305                  0
Securities (Hong person
Kong) Co., Ltd.

China Resource
SZITIC Trust –
China Resource
                     Others                 1.23%           9,726,136                 0
Trust No.13
Collective Trust
Program

Yunnan
International
Trust CO., Ltd. –
                     Others                 1.16%           9,164,857                 0
Juxin No.5
Collective Fund
Trust Program

First Capital
Securities –
Guosen Securities
– Mutual Win
Dayan
                     Others                 0.82%           6,438,356          6,438,356
Quantization
Private Placement
Collective Assets
Management
Program

                                         Top 10 holders of unconditional shares

                                                                                                    Category of shares
                Shareholder             Amount of shares without sales restriction            Category of
                                                                                                                  Amount
                                                                                                shares

Shenzhen Banglin Technologies                                                              RMB common
                                                                             68,774,273                             68,774,273
Development Co., Ltd.                                                                      shares

Shengjiu Investment Ltd.                                                     57,390,410 Foreign shares              57,390,410



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                                                                                    方大集团股份有限公司 2017 年第一季度报告全文


                                                                                                      listed in domestic
                                                                                                      exchanges

GUOTAI JUNAN                                                                                          Foreign shares
SECURITIES(HONGKONG)                                                                   33,221,072 listed in domestic         33,221,072
LIMITED                                                                                               exchanges

                                                                                                      RMB common
Huang Jupei                                                                            26,686,432                            26,686,432
                                                                                                      shares

Gong Qing Cheng Shi Li He
                                                                                                      RMB common
Investment Management Partnership                                                      17,860,992                            17,860,992
                                                                                                      shares
Enterprise (limited partner)

                                                                                                      RMB common
Zhou Shijian                                                                           16,213,500                            16,213,500
                                                                                                      shares

                                                                                                      Foreign shares
Shenwan Hongyuan Securities
                                                                                       13,850,305 listed in domestic         13,850,305
(Hong Kong) Co., Ltd.
                                                                                                      exchanges

China Resource SZITIC Trust –
                                                                                                      RMB common
China Resource Trust No.13                                                              9,726,136                             9,726,136
                                                                                                      shares
Collective Trust Program

Yunnan International Trust CO., Ltd.
                                                                                                      RMB common
– Juxin No.5 Collective Fund Trust                                                     9,164,857                             9,164,857
                                                                                                      shares
Program

                                                                                                      Foreign shares
KGI ASIA LIMITED                                                                        6,184,859 listed in domestic          6,184,859
                                                                                                      exchanges

                                         Among the top 10 shareholders, Shenzhen Banglin Technology Development Co., Ltd. and
                                         Shengjiu Investment Co., Ltd. are parties action-in-concert. Shenzhen Banglin Technology
Notes to top ten shareholder             Development Co., Ltd. and Gong Qing Cheng Shi Li He Investment Management Partnership
relationship or "action in concert"      Enterprise are related parties. The Company is not notified of other action-in-concert or
                                         related parties among the other holders of current shares.


                                         Huang Jupei holds 26,685,432 shares of the Company through the client credit trade
Top-10 common share shareholders
                                         securities account of GF Securities; Zhou Shijian holds 16,213,500 shares of the Company
participating in margin trade (if any)
                                         through the client credit trade securities account of GF Securities;

Agreed re-purchasing by the Company’s top 10 shareholders of common shares and top 10 shareholders of unconditional common
shares in the report period
□ Yes √ No
No agreed re-purchasing by the Company’s top 10 shareholders of common shares and top 10 shareholders of unconditional common
shares in the report period




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                                                              方大集团股份有限公司 2017 年第一季度报告全文


2. Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end of
the report period

□ Applicable √ Inapplicable




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                                                                                           方大集团股份有限公司 2017 年第一季度报告全文




                                                       III Significant Events

         1. Major changes in accounting items and financial data in the report period and reasons

         √ Applicable □ Inapplicable

              Items                      Closing amount      Opening amount        Change          Cause of change
                                                                                                   Mainly due to increase in prepayment for
Prepayment                                 48,418,159.11          31,526,326.25         53.58%
                                                                                                   materials
                                                                                                   Mainly due to purchase financial
Other current assets                      268,935,506.21          62,206,574.33         332.33%
                                                                                                   products
Employees’ wage payable                   23,292,119.73          41,972,342.66         -44.51%    Annual bonus paid
                                         Amount of the
              Items                                          Last period           Change          Cause of change
                                         Current Term
                                                                                                   Mainly due to increase in sales from the
Turnover                                  573,546,634.49         469,103,396.78         22.26%
                                                                                                   real estate business
                                                                                                   Mainly due to provision of real estate
Taxes and surcharges                     36,724,201.67            5,896,598.98          522.80%
                                                                                                   sales tax
                                                                                                   Mainly due to provision of income tax
Income tax expenses                      20,846,618.03            4,246,322.18          390.93%
                                                                                                   for the real estate business
Net profit attributable to the                                                                     Mainly due to increase in the business
                                           67,759,233.14          22,188,780.56         205.38%
owners of parent company                                                                           income and gross profit margin
Cash flow generated by business                                                                    Mainly due to increase in collection of
                                           -4,846,476.55         -59,715,816.88
operations, net                                                                                    sales receivables
Cash flow generated by                                                                             Mainly due to purchase of financial
                                         -203,914,367.67         -64,130,091.37
investment activities, net                                                                         products



         2. Progress of key issues and its impacts and solutions

         √ Applicable □ Inapplicable
         On March 17, 2017 and April 11, 2017, the Company held the 26 th meeting of the 7th Board of Directors and 2016 General
         Shareholders’ Meeting to review the Proposal of Terminating Part of the Raised Fund and Using the Residual Raised Fund to
         Permanently Replenish the Working Capital and Proposal of Using the Saved Fund of Finished Projects to Permanently Replenish
         the Working Capital.


                          Key issue                                Date of disclosure                          Information source

                                                                                                  China Securities Journal, Shanghai
         Resolutions of the 26th Meeting of the 7th
                                                      21.03.17                                    Securities Daily, Securities Times, HKCD
         Board of Directors
                                                                                                  (English) and www.cninfo.com.cn

         Notice on Terminating Part of the Raised     21.03.17                                    China Securities Journal, Shanghai


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                                                                                     方大集团股份有限公司 2017 年第一季度报告全文


Fund and Using the Residual Raised Fund                                                     Securities Daily, Securities Times, HKCD
to Permanently Replenish the Working                                                        (English) and www.cninfo.com.cn
Capital

                                                                                            China Securities Journal, Shanghai
Announcement on Resolutions of the
                                               12.04.17                                     Securities Daily, Securities Times, HKCD
General Shareholders’ Meeting 2016
                                                                                            (English) and www.cninfo.com.cn


3. Commitments that have not been fulfilled by actual controller, shareholders, related parties,
acquirers of the Company

√ Applicable □ Inapplicable

           Promised issue                 Promiser             Type     Commitment            Date           Term        Fulfillment

Share reform                           None

Commitments made in acquisition
                                       None
reports or equity change reports

Commitments made during assets
                                       None
reorganization

                                       Caitong Fund;
                                       Changzhou
                                       Investment
                                       Group, First
                                       Capital
                                       Securities,
                                               Fullgoal                 Shares offered
                                       Assets                           in the
                                       Management                       non-public
                                       Co., Ltd.,         Share sales   share issuance
Commitments made during initial
                                       Sinomach           restriction   in 2015 will      01.08.16      12 months      In fulfillment
public offering or re-financing
                                       Finance Co.,       commitment    be locked for
                                       Ltd.,                            12 months
                                       Minsheng                         from the date
                                       Tonghui Asset                    of listing
                                       Management
                                       Co., Ltd. and
                                       Ping An-UOB
                                       Fund
                                       Management
                                       Co., Ltd.

Share option incentive                 None

Other commitments made to
                                       None
small-to-middle shareholders




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                                                                                              方大集团股份有限公司 2017 年第一季度报告全文


Timely fulfillment                           Yes

If a commitment is not fulfilled
timely, the reason should be explained
                                             Inapplicable
and the further plan should be
introduced


4. Forecast of operating performance between January and June in 2017

Warning and reasons of possible net loss or substantial change from the last period between the beginning of the year and the end of
the next report period
□ Applicable √ Inapplicable


5. Securities investment

□ Applicable √ Inapplicable
The Company made no investment in securities in the report period


6. Derivative investment

√ Applicable □ Inapplicable
                                                                                                                                                 In RMB10,000

                                                                                                                                              Proporti
                                                                                                                                               on of
                                                                                                                                              closing
                                                                                                                                              investm
                                                                                                                                                          Actual
Derivati                                                                                                               Impairm                  ent
                                                                               Initial                     Amount                 Closing                 gain/lo
     ve               Related                                                                Amount                      ent                  amount
           Relation                           Initial       Start       End    investm                     sold in                investm                  ss in
investm               transacti       Type                                                   in this                   provisio                in the
             ship                            amount         date        date     ent                        this                    ent                    the
     ent                   on                                                                period                     n (if                 closing
                                                                               amount                      period                 amount                  report
operator                                                                                                                any)                    net
                                                                                                                                                          period
                                                                                                                                              assets in
                                                                                                                                                the
                                                                                                                                               report
                                                                                                                                               period

Shangha
i                                 Shanghai
                                                        12.09.1 15.09.1        6,220.7 1,815.3 3,080.4                            4,955.6
Futures None          No          aluminu     8,036.1                                                                                           2.04% 397.88
                                                        6           7                    8             2           6                      4
Exchan                            m
ge

                                                                               6,220.7 1,815.3 3,080.4                            4,955.6
Total                                         8,036.1        --          --                                                                     2.04% 397.88
                                                                                         8             2           6                      4

Capital source                               Self-owned fund



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                                                                                         方大集团股份有限公司 2017 年第一季度报告全文


Lawsuit (if any)                            None

Disclosure date of derivative
investment approval by the Board of
Directors (if any)

Disclosure date of derivative
investment approval by the
Shareholders’ Meeting (if any)

Risk analysis and control measures
                                            To prevent the risk of fluctuation of raw material prices, the Company adopted the
for the derivative holding in the
                                            aluminum futures exchanged at the domestic futures exchange to provide hedging for
report period (including without
                                            aluminum as a raw material for the Company. The Company has set up and implemented the
limitation market, liquidity, credit,
                                            Provincial Regulations on China Fangda Group Domestic Futures Hedging to prevent risks.
operation and legal risks)

Changes in the market price or fair
value of the derivative in the report
period, the analysis of the derivative’s
                                            Fair value of derivatives are measured at open prices in the futures market
fair value should disclose the method
used and related assumptions and
parameters.

Material changes in the accounting
policies and rules related to the
                                            No
derivative in the report period
compared to last period

Opinions of independent directors on
the Company’s derivative investment None
and risk controlling


7. Reception of investigations, communications, or interviews in the reporting period

√ Applicable □ Inapplicable

           Time/date                             Way                           Visitor                   Disclosure of information

                                                                                                  Investor Relationship Record Form on
10.02.17                          Onsite investigation           Institution
                                                                                                  www.cninfo.com.cn


8. Incompliant external guarantee

□ Applicable √ Inapplicable
The Company made no incompliant external guarantee in the report period.


9. Non-operating capital use by the controlling shareholder or related parties in the reporting
term

□ Applicable √ Inapplicable

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                                                                                方大集团股份有限公司 2017 年第一季度报告全文


The controlling shareholder and its affiliates occupied no capital for non-operating purpose of the Company during the report period.




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                                                                        方大集团股份有限公司 2017 年第一季度报告全文




                                         IV Financial Statements

1. Financial statements

1. Consolidated Balance Sheet

Prepared by: China Fangda Group Co., Ltd.
                                                     31.03.17
                                                                                                                In RMB

                  Items                        Closing balance                           Opening balance

Current asset:

     Monetary capital                                       957,103,974.18                          1,095,229,837.90

     Settlement provision

     Outgoing call loan

     Financial assets measured at fair
value with variations accounted into                                      0.00                                     0.00
current income account

     Derivative financial assets                                  3,126,225.00                             2,232,200.00

     Notes receivable                                             9,490,000.00                         18,898,106.11

     Account receivable                                    2,032,718,651.02                         2,342,929,628.14

     Prepayment                                                  48,418,159.11                         31,526,326.25

     Insurance receivable

     Reinsurance receivable

     Provisions of Reinsurance
contracts receivable

     Interest receivable                                                                                    302,950.68

     Dividend receivable                                                                                           0.00

     Other receivables                                           55,264,270.03                         57,378,994.72

     Repurchasing of financial assets

     Inventory                                             1,991,257,901.70                         1,990,621,059.27

     Assets held for sales

     Non-current assets due in 1 year

     Other current assets                                   268,935,506.21                             62,206,574.33

Total current assets                                       5,366,314,687.25                         5,601,325,677.40

Non-current assets:


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     Loan and advancement provided

     Sellable financial assets                28,562,575.67                          28,562,575.67

     Investment held until mature

     Long-term receivable

     Long-term share equity investment        11,529,898.01                          12,105,030.68

     Investment real estate                  333,917,348.80                         333,795,631.30

     Fixed assets                            500,830,341.34                         506,819,266.38

     Construction in process                   2,537,725.36                           2,537,725.36

     Engineering materials                                                                    0.00

     Disposal of fixed assets                        596.00                                   0.00

     Productive biological assets                       0.00                                  0.00

     Gas & petrol                                       0.00                                  0.00

     Intangible assets                        59,436,565.39                          60,228,652.69

     R&D expense                                        0.00                                  0.00

     Goodwill                                           0.00                                  0.00

     Long-term amortizable expenses            3,326,104.93                           3,695,766.33

     Deferred income tax assets              184,499,863.02                         176,796,698.56

     Other non-current assets                 48,582,462.71                          61,184,253.71

Total of non-current assets                 1,173,223,481.23                      1,185,725,600.68

Total of assets                             6,539,538,168.48                      6,787,051,278.08

Current liabilities

     Short-term loans                        601,000,000.00                         591,000,000.00

     Loans from Central Bank

     Deposit received and held for
others

     Call loan received

     Financial liabilities measured at
fair value with variations accounted into                                                     0.00
current income account

     Derivative financial liabilities                   0.00

     Notes payable                           487,767,385.44                         557,301,320.45

     Account payable                        1,026,453,948.73                      1,275,255,961.34

     Prepayment received                     213,546,508.79                         285,905,444.13

     Selling of repurchased financial
assets



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       Fees and commissions payable

       Employees’ wage payable             23,292,119.73                          41,972,342.66

       Taxes payable                       165,169,286.85                         192,236,574.40

       Interest payable                      2,739,837.25                           2,634,979.47

       Dividend payable                                                                     0.00

       Other payables                      384,337,159.76                         366,182,799.41

       Reinsurance fee payable                                                              0.00

       Insurance contract provision

       Entrusted trading of securities

       Entrusted selling of securities

       Liabilities held for sales

       Non-current liabilities due in 1
                                                      0.00
year

       Other current liabilities            24,983,305.63                          35,148,084.44

Total current liabilities                 2,929,289,552.18                      3,347,637,506.30

Non-current liabilities:

       Long-term loans                    1,021,061,708.37                        922,169,568.24

       Bond payable

         Including: preferred stock

                 Perpetual bond

       Long-term payable                              0.00

       Long-term employees’ wage
payable

       Special payables                               0.00

       Anticipated liabilities               2,779,866.18                           3,156,625.24

       Deferred earning                     10,947,079.91                          11,567,224.78

       Deferred income tax liabilities     204,918,522.65                         200,207,003.35

       Other non-current liabilities                  0.00                                  0.00

Total of non-current liabilities          1,239,707,177.11                      1,137,100,421.61

Total liabilities                         4,168,996,729.29                      4,484,737,927.91

Owner’s equity:

       Share capital                       789,094,836.00                         789,094,836.00

       Other equity tools

         Including: preferred stock

                 Perpetual bond


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                                                                                方大集团股份有限公司 2017 年第一季度报告全文


     Capital reserves                                               467,376,902.96                            467,376,902.96

     Less: Shares in stock                                                                                                 0.00

     Other miscellaneous income                                           2,841,913.24                             2,130,454.52

     Special reserves                                                                                                      0.00

     Surplus reserves                                                    88,839,790.50                         88,839,790.50

     Common risk provisions

     Retained profit                                               1,084,579,744.64                          1,016,820,576.30

Total of owner’s equity belong to the
                                                                   2,432,733,187.34                          2,364,262,560.28
parent company

     Minor shareholders’ equity                                     -62,191,748.15                            -61,949,210.11

Total of owners’ equity                                           2,370,541,439.19                          2,302,313,350.17

Total of liabilities and owner’s interest                         6,539,538,168.48                          6,787,051,278.08


Legal representative: Xiong Jianming         CFO: Lin Kebing             Accounting Manager: Chen Yonggang


2. Balance Sheet of the Parent Company

                                                                                                                        In RMB

                   Items                               Closing balance                           Opening balance

Current asset:

     Monetary capital                                               546,387,492.10                             81,148,314.87

     Financial assets measured at fair
value with variations accounted into                                                                                       0.00
current income account

     Derivative financial assets                                                                                           0.00

     Notes receivable                                                                                                      0.00

     Account receivable                                                           0.00                              454,140.85

     Prepayment                                                            276,453.67                               110,132.27

     Interest receivable                                                                                                   0.00

     Dividend receivable                                                          0.00                        430,000,000.00

     Other receivables                                              469,542,319.27                            459,354,983.42

     Inventory                                                                                                             0.00

     Assets held for sales                                                                                                 0.00

     Non-current assets due in 1 year

     Other current assets                                                  345,626.23                               334,228.97

Total current assets                                               1,016,551,891.27                           971,401,800.38



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Non-current assets:

     Sellable financial assets                28,562,575.67                          28,562,575.67

     Investment held until mature                                                             0.00

     Long-term receivable                                                                     0.00

     Long-term share equity investment       896,869,392.36                         897,444,525.03

     Investment real estate                  296,740,660.63                         296,740,660.63

     Fixed assets                             54,552,356.14                          55,081,689.15

     Construction in process                                                                  0.00

     Engineering materials                                                                    0.00

     Disposal of fixed assets                                                                 0.00

     Productive biological assets                                                             0.00

     Gas & petrol                                                                             0.00

     Intangible assets                         1,437,074.58                           1,531,179.93

     R&D expense                                                                              0.00

     Goodwill                                                                                 0.00

     Long-term amortizable expenses              181,748.39                            252,857.40

     Deferred income tax assets               56,444,479.16                          57,076,777.66

     Other non-current assets                120,000,000.00                         120,000,000.00

Total of non-current assets                 1,454,788,286.93                      1,456,690,265.47

Total of assets                             2,471,340,178.20                      2,428,092,065.85

Current liabilities

     Short-term loans                         90,000,000.00                         190,000,000.00

     Financial liabilities measured at
fair value with variations accounted into                                                     0.00
current income account

     Derivative financial liabilities

     Notes payable                                                                   33,692,909.97

     Account payable                             606,941.85                            606,941.85

     Prepayment received                         693,045.60                            965,234.08

     Employees’ wage payable                  1,068,929.41                           2,338,896.51

     Taxes payable                               592,304.07                            460,424.30

     Interest payable                            117,232.50                            288,513.75

     Dividend payable                                                                         0.00

     Other payables                          242,392,896.09                          65,436,929.77

     Liabilities held for sales                                                               0.00


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       Non-current liabilities due in 1
                                                                                               0.00
year

       Other current liabilities                         0.00

Total current liabilities                     335,471,349.52                         293,789,850.23

Non-current liabilities:

       Long-term loans

       Bond payable

         Including: preferred stock

                 Perpetual bond

       Long-term payable

       Long-term employees’ wage
                                                                                               0.00
payable

       Special payables

       Anticipated liabilities                                                                 0.00

       Deferred earning                                                                        0.00

       Deferred income tax liabilities        124,159,773.11                         124,088,349.06

       Other non-current liabilities                                                           0.00

Total of non-current liabilities              124,159,773.11                         124,088,349.06

Total liabilities                             459,631,122.63                         417,878,199.29

Owner’s equity:

       Share capital                          789,094,836.00                         789,094,836.00

       Other equity tools

         Including: preferred stock

                 Perpetual bond

       Capital reserves                       466,283,546.89                         466,283,546.89

       Less: Shares in stock                                                                   0.00

       Other miscellaneous income                  91,831.63                              91,831.63

       Special reserves                                                                        0.00

       Surplus reserves                        88,839,790.50                          88,839,790.50

       Retained profit                        667,399,050.55                         665,903,861.54

Total of owners’ equity                     2,011,709,055.57                      2,010,213,866.56

Total of liabilities and owner’s interest   2,471,340,178.20                      2,428,092,065.85


3. Consolidated Income Statement

                                                                                            In RMB

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                     Items                      Amount occurred in the current period        Occurred in previous period

1. Total revenue                                                        573,546,634.49                          469,103,396.78

       Incl. Business income                                            573,546,634.49                          469,103,396.78

               Interest income

               Insurance fee earned

               Fee and commission
received

2. Total business cost                                                  489,407,031.68                          444,905,754.32

       Incl. Business cost                                              394,608,165.03                          391,319,798.18

               Interest expense

               Fee and commission paid

               Insurance discharge payment

               Net claim amount paid

               Net insurance policy
reserves provided

               Insurance policy dividend
paid

               Reinsurance expenses

               Taxes and surcharges                                      36,724,201.67                             5,896,598.98

               Sales expense                                             10,160,076.95                            11,110,937.46

               Administrative expense                                    37,770,848.96                            36,395,114.82

               Financial expenses                                        12,891,638.49                            10,022,552.32

               Asset impairment loss                                      -2,747,899.42                           -9,839,247.44

       Plus: gains from change of fair value
                                                                            369,591.00                            -1,456,515.68
(“-“ for loss)

            Investment gains (“-“ for loss)                               963,118.22                              -116,407.24

            Incl. Investment gains from
                                                                           -575,132.67                              -174,752.44
affiliates and joint ventures

            Exchange gains (“-“ for loss)

3. Operational profit (“-“ for loss)                                   85,472,312.03                            22,624,719.54

       Plus: non-operational income                                       3,159,052.41                             2,018,111.17

            Incl. Loss from disposal of
                                                                             16,166.05                                22,418.22
non-current assets

       Less: non-operational expenditure                                    268,051.31                             1,266,037.76

            Incl. Loss from disposal of
                                                                             87,879.85                               493,011.35
non-current assets


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                                                      方大集团股份有限公司 2017 年第一季度报告全文


4. Gross profit (“-“ for loss)                88,363,313.13                        23,376,792.95

     Less: Income tax expenses                  20,846,618.03                         4,246,322.18

5. Net profit (“-“ for net loss)              67,516,695.10                        19,130,470.77

     Net profit attributable to the owners
                                                67,759,233.14                        22,188,780.56
of parent company

     Minor shareholders’ equity                  -242,538.04                        -3,058,309.79

6. After-tax net amount of other misc.
                                                  924,176.32                           841,840.00
incomes

  After-tax net amount of other misc.
                                                  924,176.32                           841,840.00
incomes attributed to parent's owner

     (1) Other misc. incomes that cannot
be re-classified into gain and loss

              1. Change in net liabilities or
assets due to re-measurement set benefit
program

              2. Shares enjoyed in other
misc. incomes that cannot be reclassified
into gain and loss by the invested entity
under the equity law

     (2) Other misc. incomes that will be
                                                  924,176.32                           841,840.00
re-classified into gain and loss

              1. Shares enjoyed in other
misc. incomes that cannot be reclassified
into gain and loss by the invested entity
under the equity law

              2.Change in the fair value of
financial asset for sale

              3 Held-to-mature investment
reclassified as gain and loss in the
financial assets for sales

              4. Effective part in the gain
                                                  774,158.75                           841,840.00
and loss of arbitrage of cash flow

              5. Translation difference of
                                                  150,017.57
foreign exchange statement

              6. Others

  After-tax net of other misc. income
attributed to minority shareholders

7. Total of misc. incomes                       68,440,871.42                        19,972,310.77




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     Total of misc. incomes attributable
                                                                         68,683,409.46                              23,030,620.56
to the owners of the parent company

     Total misc gains attributable to the
                                                                           -242,538.04                               -3,058,309.79
minor shareholders

8. Earnings per share:

     (1) Basic earnings per share                                                  0.09                                       0.03

     (2) Diluted earnings per share                                                0.09                                       0.03

Net profit contributed by entities merged under common control in the report period was RMB0.00, net profit realized by parties
merged during the previous period is RMB0.00.


Legal representative: Xiong Jianming           CFO: Lin Kebing           Accounting Manager: Chen Yonggang


4. Income Statement of the Parent Company

                                                                                                                            In RMB

                    Items                      Amount occurred in the current period          Occurred in previous period

1. Turnover                                                               6,845,336.82                               7,246,856.81

     Less: Operation cost                                                   406,361.52                                 350,972.35

           Taxes and surcharges                                             312,223.66                                 768,784.87

           Sales expense

           Administrative expense                                         5,673,991.65                               5,459,504.20

           Financial expenses                                              -223,544.29                               1,783,122.18

           Asset impairment loss                                            -12,944.02                                  26,016.25

     Plus: gains from change of fair
value (“-“ for loss)

           Investment gains (“-“ for loss)                               -542,255.96                                -169,327.78

           Incl. Investment gains from
                                                                           -575,132.67                                -174,752.44
affiliates and joint ventures

2. Operational profit (“-“ for loss)                                      146,992.34                               -1,310,870.82

     Plus: non-operational income                                         2,061,767.86                               1,148,843.27

           Incl. Loss from disposal of
non-current assets

     Less: non-operational expenditure                                        9,848.64                                  89,374.82

           Incl. Loss from disposal of
                                                                              9,848.64
non-current assets

3. Gross profit (“-“ for loss)                                          2,198,911.56                                -251,402.37

     Less: Income tax expenses                                              703,722.55                                  -59,356.13



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4. Net profit (“-“ for net loss)                                        1,495,189.01                              -192,046.24

5. After-tax net amount of other misc.
incomes

       (1) Other misc. incomes that
cannot be re-classified into gain and
loss

              1. Change in net liabilities
or assets due to re-measurement set
benefit program

              2. Shares enjoyed in other
misc. incomes that cannot be
reclassified into gain and loss by the
invested entity under the equity law

       (2) Other misc. incomes that will
be re-classified into gain and loss

              1. Shares enjoyed in other
misc. incomes that cannot be
reclassified into gain and loss by the
invested entity under the equity law

              2.Change in the fair value
of financial asset for sale

              3 Held-to-mature
investment reclassified as gain and loss
in the financial assets for sales

              4. Effective part in the gain
and loss of arbitrage of cash flow

              5. Translation difference of
foreign exchange statement

              6. Others

6. Total of misc. incomes                                                 1,495,189.01                              -192,046.24

7. Earnings per share:

       (1) Basic earnings per share                                               0.00                                        0

       (2) Diluted earnings per share                                             0.00                                        0


5. Consolidated Cash Flow Statement

                                                                                                                          In RMB

                   Items                      Amount occurred in the current period         Occurred in previous period

1. Net cash flow from business


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                                                     方大集团股份有限公司 2017 年第一季度报告全文


operations:

       Cash received from sales of
                                            854,772,826.23                         636,891,799.87
products and providing of services

       Net increase of customer deposits
and capital kept for brother company

       Net increase of loans from central
bank

       Net increase of inter-bank loans
from other financial bodies

       Cash received against original
insurance contract

       Net cash received from
reinsurance business

       Net increase of client deposit and
investment

       Increase in proposal of financial
assets measured at fair value with
variations accounted into current
income account

       Cash received as interest,
processing fee, and commission

       Net increase of inter-bank fund
received

       Net increase of repurchasing
business

       Tax refunded                           1,292,690.35                              80,888.90

       Other cash received from business
                                             41,062,862.35                          26,520,638.27
operation

Sub-total of cash inflow from business
                                            897,128,378.93                         663,493,327.04
operations

       Cash paid for purchasing products
                                            644,166,577.65                         569,855,226.34
and services

       Net increase of client trade and
advance

       Net increase of savings in central
bank and brother company

       Cash paid for original contract
claim

       Cash paid for interest, processing


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                                                       方大集团股份有限公司 2017 年第一季度报告全文


fee and commission

     Cash paid for policy dividend

     Cash paid to and for the staff           75,055,798.07                           72,576,097.44

     Taxes paid                              125,913,049.34                           43,687,459.47

     Other cash paid for business
                                              56,839,430.42                           37,090,360.67
activities

Sub-total of cash outflow from
                                             901,974,855.48                          723,209,143.92
business operations

Cash flow generated by business
                                               -4,846,476.55                         -59,715,816.88
operations, net

2. Cash flow generated by investment:

     Cash received from investment
                                             847,400,000.00                           86,000,000.00
recovery

     Cash received as investment profit        1,855,342.67                               87,675.20

     Net cash retrieved from disposal
of fixed assets, intangible assets, and          860,000.00                            3,042,427.80
other long-term assets

     Net cash received from disposal of
subsidiaries or other operational units

     Other investment-related cash
received

Sub-total of cash inflow generated
                                             850,115,342.67                           89,130,103.00
from investment

     Cash paid for construction of
fixed assets, intangible assets and other     29,829,710.34                           17,210,194.37
long-term assets

     Cash paid as investment                1,024,200,000.00                         136,000,000.00

     Net increase of loan against
pledge

     Net cash paid for acquiring
subsidiaries and other operational units

     Other cash paid for investment                                                       50,000.00

Subtotal of cash outflows                   1,054,029,710.34                         153,260,194.37

Cash flow generated by investment
                                            -203,914,367.67                          -64,130,091.37
activities, net

3. Cash flow generated by financing
activities:

     Cash received from investment


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                                                                            方大集团股份有限公司 2017 年第一季度报告全文


     Incl. Cash received from
investment attracted by subsidiaries
from minority shareholders

     Cash received from borrowed
                                                                  298,892,140.13                            513,454,801.40
loans

     Cash received from bond placing

     Other cash received from
                                                                                                                      31.03
financing activities

Subtotal of cash inflow from financing
                                                                  298,892,140.13                            513,454,832.43
activities

     Cash paid to repay debts                                     190,000,000.00                            386,000,000.00

     Cash paid as dividend, profit, or
                                                                    19,702,834.06                            18,750,977.53
interests

     Incl. Dividend and profit paid by
subsidiaries to minority shareholders

     Other cash paid for financing
                                                                                                                525,617.57
activities

Subtotal of cash outflow from
                                                                  209,702,834.06                            405,276,595.10
financing activities

Net cash flow generated by financing
                                                                    89,189,306.07                           108,178,237.33
activities

4. Influence of exchange rate changes
                                                                      -119,537.97                                311,278.28
on cash and cash equivalents

5. Net increase in cash and cash
                                                                  -119,691,076.12                            -15,356,392.64
equivalents

     Plus: Balance of cash and cash
                                                                  935,824,575.40                            247,739,243.78
equivalents at the beginning of term

6. Balance of cash and cash equivalents
                                                                  816,133,499.28                            232,382,851.14
at the end of the period


6. Cash Flow Statement of the Parent Company

                                                                                                                      In RMB

                 Items                    Amount occurred in the current period         Occurred in previous period

1. Net cash flow from business
operations:

     Cash received from sales of
                                                                     6,005,590.24                              5,118,489.56
products and providing of services

     Tax refunded


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                                                     方大集团股份有限公司 2017 年第一季度报告全文


     Other cash received from business
                                            248,854,854.53                         326,581,279.11
operation

Sub-total of cash inflow from business
                                            254,860,444.77                         331,699,768.67
operations

     Cash paid for purchasing products
                                             27,178,851.45                            484,636.92
and services

     Cash paid to and for the staff           5,173,336.56                           4,211,712.91

     Taxes paid                                720,339.74                            1,583,084.62

     Other cash paid for business
                                             79,271,693.27                         181,651,052.50
activities

Sub-total of cash outflow from
                                            112,344,221.02                         187,930,486.95
business operations

Cash flow generated by business
                                            142,516,223.75                         143,769,281.72
operations, net

2. Cash flow generated by investment:

     Cash received from investment
                                            100,000,000.00                          11,000,000.00
recovery

     Cash received as investment profit     431,862,876.73                           3,537,254.69

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

     Net cash received from disposal of
subsidiaries or other operational units

     Other investment-related cash
received

Sub-total of cash inflow generated
                                            531,862,876.73                          14,537,254.69
from investment

     Cash paid for construction of
fixed assets, intangible assets and other      433,510.00                               27,689.11
long-term assets

     Cash paid as investment                100,000,000.00                          61,000,000.00

     Net cash paid for acquiring
subsidiaries and other operational units

     Other cash paid for investment

Subtotal of cash outflows                   100,433,510.00                          61,027,689.11

Cash flow generated by investment
                                            431,429,366.73                         -46,490,434.42
activities, net

3. Cash flow generated by financing


                                                                                               26
                                                    方大集团股份有限公司 2017 年第一季度报告全文


activities:

     Cash received from investment

     Cash received from borrowed
                                                                                  200,000,000.00
loans

     Cash received from bond placing

     Other cash received from
                                                                                            31.03
financing activities

Subtotal of cash inflow from financing
                                                                                  200,000,031.03
activities

     Cash paid to repay debts             100,000,000.00                          250,000,000.00

     Cash paid as dividend, profit, or
                                             1,967,831.25                            5,437,331.26
interests

     Other cash paid for financing
                                                                                       525,617.57
activities

Subtotal of cash outflow from
                                          101,967,831.25                          255,962,948.83
financing activities

Net cash flow generated by financing
                                          -101,967,831.25                           -55,962,917.80
activities

4. Influence of exchange rate changes
on cash and cash equivalents

5. Net increase in cash and cash
                                          471,977,759.23                            41,315,929.50
equivalents

     Plus: Balance of cash and cash
                                           74,159,732.87                            25,583,130.83
equivalents at the beginning of term

6. Balance of cash and cash equivalents
                                          546,137,492.10                            66,899,060.33
at the end of the period


2. Auditor‘s report

Whether the Q1 report is audited
□ Yes √ No
The Q2 Report is not audited.




                                                     China Fangda Group Co., Ltd.


                                                  Legal representative: Xiong Jianming


                                                            25.04.17

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