RNS Number:9459C
Zhejiang Southeast Elec Power Co Ld
25 October 2002
Zhejiang Southeast Electric Power Company Limited
Third Quarterly Report 2002
Important Remarks
The Directors of Zhejiang Southeast Electric Power Company Limited (the "Company
") confirm that there are no false representations, misleading statements or
material omissions in this Report and they jointly and severally accept full
responsibility for the authenticity, accuracy and integrity of the information
contained herein.
The financial statements attached to this Report have not been audited.
The directors Mr. Zhu Li and Mr. Li Yuan were not present at the Meeting of
Board of Directors because Mr. Zhu was abroad and Mr. Li was on business trip.
I. Particulars of the Company
1. Brief Introduction of Particulars
(1) Listing Place of B Shares: Shanghai Stock Exchange
Abbreviation of B shares: ZSEPC B Shares
Code of B Shares: 900949
Listing Place of GDRs: London Stock Exchange
Code of GDRs: 0949QLT
(2) Secretary to the Board of Directors: Dai Jiancheng
Registered Address and Office Location of the Company:
22-23 Floor, Biao Li Tower, 528 Yan'an Road, Hangzhou, Zhejiang Province, P.R.C.
Postal Code: 310006
Tel: 86571-85774566
Fax: 86571-85774321
2. Summary of Financial Data and Indicators
Unit: RMB 0'000 yuan
July-Sep. 2002 Jan.-Sep. July-Sep. Jan.-Sep.
2002 2001 2001
Net Profit 15,501.59 45,200.98 20,712.37 55,899.00
Net Profit after Deducting Non-recurring 16,365.89 46,849.60 20,921.90 56,223.97
Profits & Losses (note)
Yield on Net Assets (diluted) (in %) 2.66 7.76 3.64 9.82
Earnings per Share (diluted) (yuan/share) 0.077 0.225 0.103 0.278
30 Sep. 2002 1 Jan. 2002
Shareholders' Equity (excluding minority 581,943.92 536,742.95
shareholders)
Net Assets per Share 2.90 2.67
Adjusted Net Assets per Share (yuan/share) 2.87 2.67
Note: The descriptions of the deducted non-recurring profits & losses and their
amount:
Unit: RMB 0'000 yuan
July-Sep. 2002 Jan.-Sep. 2002
Net Profit 15,501.59 45,200.98
The Non-recurring Profits & Losses Deducted 1,290.00 2,460.63
(1) Net Loss on Disposal of Fixed Assets 1,093.06 3,043.81
(2) Outlay for Compensation, Liquidated Damages and 203.00 200.47
Penalties
(3) Donation Outlay 0.00 0.15
(4) Gains from Inventories 0.00 779.45
(5) Others -6.06 -4.35
Net Profit after Deducting Non-recurring Profits & Losses 16,356.89 46,849.60
II. Shareholding of Major Shareholders
1. There was no change in the total number of the shares or
the shareholding structure of the Company in this reporting period.
2. Total Number of Shareholders as at the end of the reporting
period.
As at the end of the reporting period, the Company's shareholders numbered
86,977 in total, including 5 promoters, the others are the shareholders of B
shares.
3. Shareholding of Top 10 Shareholders
As at the end of this reporting period, the top 10 shareholders of the Company
are as follows:
Name Number of Percentage of Type of Shares
Shares Held Shareholding
(share)
(%)
Zhejiang Provincial Electric Power Development 799,963,200 39.80 State-owned legal
Co. (ZPEPDC) person shares
Zhejiang Provincial Electric Power Co. (ZPEPC) 514,036,800 25.57 State-owned legal
person shares
NAITO SECURITIES CO., LTD 14,662,264 0.73 B shares
TOYO SECURITIES ASIA LTD. A/C CLIENT 8,027,300 0.40 B shares
SCBHK A/C BROWN BROTHERS HARRIMAN AND COBOSTON S 7,274,927 0.36 B shares
/A CMO EMERGING MARKETS FUND
Huacong Investment Co. Ltd 6,807,825 0.34 B shares
Zhejiang Bada Co. Ltd 4,000,000 0.20 Legal person shares
HKSBCSB S/A HSBC (NOM) S/A ABN AMRO BANK NV 4,000,000 0.20 B shares
BRITISH AIRWAYS PENSIONS 3,023,999 0.15 B shares
SALOMON BROTHERS INTERNATINAL LIMITED 3,000,071 0.15 B shares
ZPEPC is the single buyer in Zhejiang power grid. ZPEPDC-invested power plants
and generation companies sell electricity to ZPEPC. It is unknown if the holders
of B shares have connected transactions.
4. De facto Controllers of the Company
(1) There was no change in the controlling shareholders of the Company in
this reporting period.
(2) Zhejiang Provincial Energy Group Corp. holds 39.80% of the stock of
the Company through its wholly owned subsidiary ZPEPDC. Zhejiang Provincial
Energy Group Corp. actually carries out the responsibilities as the largest
shareholder.
5. There has not been any pledge, lock-up or trust in relation to the
shares held by shareholders holding more than 5% of the shares of the Company.
III. Statements and Analysis of Operational Status
1. Basic Production and Operation Status
The Company is mainly engaged in investment, development and operation of the
power business. During the third quarter, Taizhou Power Plant and Xiaoshan Power
Plant of the Company completed a total electricity sale to the grid of 2.547
billion kwh and achieved a total principal operating income of 0.857 billion
yuan. As at the end of the reporting period, the cumulative electricity sale to
the grid by the Company amounted to 7.114 billion kwh and the principal
operating income was up to 2.451 billion yuan.
If compared to the same period of the preceding year, the electricity sale
during the third quarter decreased by 0.121 billion kwh, the principal operating
income decreased by 0.075 billion yuan, representing a decrease of 4.54% and
8.05% respectively. This is mainly due to the rainy season during the third
quarter and the increase of the electricity purchased outside Zhejiang Electric
Power Grid. All of these factors resulted in the comparatively surplus of the
output of the grid, electricity sale to the grid by the Company decreased to a
certain degree and the competitive bidding price reduced by a big margin,
especially for the average competitive bidding price of 0.271 yuan/kwh in August
which decreased by 0.071 yuan/kwh representing a decrease of 20.76% and 0.233
yuan/kwh in September which decreased by 0.061 yuan/kwh representing a decrease
of 20.74% in comparison with that over the same period in the previous year.
During the third quarter, the principal operating income decreased by 0.042
billion yuan due to electricity generation and decreased by 0.033 billion yuan
due to electricity price.
From January to September of this year, the cumulative coal consumption cost of
the Company was 0.961 billion yuan, representing a decrease of 0.024 billion
yuan in comparison with that over the same period in the previous year, this is
mainly caused by the drop of coal consumption. According to Taizhou Power Plant
Fuel Supply Agreement for this year signed between the Company and Zhejiang
Fuxing Power Fuel Co., Limited, and following the principle of " high quality,
high price", the coal price for Taizhou Power Plant from January to September
increased by 8.41 yuan/ton in comparison with that over the same period in the
previous year. As Xiaoshan Power Plant Fuel Supply Agreement is up to now still
under negotiation, the coal price for Xiaoshan Power Plant will be temporarily
settled at the price level prevailing at the end of the preceding year.
The Company's controlling subsidiary Zhejiang Changxing Power Generation Co. Ltd
(Changxing Power Plant Phase IV Project Company) which has been incorporated in
the consolidated statements did not make any profits since Changxing Power Plant
Phase IV Project is still under construction.
2. Investment Status
(1) Main Investment Projects Progress
Name of Enterprise Type of Business Scope of Installed Capacity Shareholding Progress
Business Percentage
Zhejiang Changxing Coal-fired power Production and 2x300MW 65% Under
Power Generation generation sale of construction
Company Ltd electricity
(Zhejiang Changxing
Power Plant Phase
IV)
Zhejiang Jiahua Coal-fired power Production and 4x600MW 24% Under
Power Generation generation sale of construction
Company Ltd electricity
(Zhejiang Jiahua
Power Plant Phase
II)
At present, the construction of Zhejiang Changxing Power Plant Phase IV Project
and Zhejiang Jiaxing Power Plant Phase II Project invested by the Company is
still underway. Based on the construction schedule, Unit 1 of Zhejiang Changxing
Power Plant Phase IV Project will be brought into commercial operation by the
end of this year; and Unit 2 will be brought into commercial operation by the
end of June of next year.
(2) New Short-Term Investment
In order to improve the capital use efficiency, during this reporting period,
the Company purchased the 13th issue interest-bearing state treasury bonds with
fixed interest rate in accounting form totaling 45 million yuan issued by the
Ministry of Finance. The coupon rate of this state treasury bonds is 2.60%.
(3) Dividends Received from Enterprises in which the Company has
shareholding for 2001
During the reporting period, the Company has received the dividends of 9.75
million yuan from Communication Bank and 4.987 million yuan from China Merchants
Bank.
3. Operational Results and Financial Status
(1) Operational Results
Table 1:
Unit: RMB 0'000 yuan
Item Jan.-Sep. Jan.-Sep. Increase or Decrease July-Sep. July-Sep. Increase or Decrease
2002 2001 Amount Percentage 2002 2001 Amount Percentage
(%) (%)
Income from 245,123.78 257,184.66 -12,060.88 -4.69 85,738.69 93,221.27 -7,482.58 -8.03
principal
operating
activities
Profit from 79,128.80 91,861.45 -12,732.65 -13.86 25,886.03 33,237.57 -7,351.54 -22.12
principal
operating
activities
Net profit 45,200.98 55,898.99 -10,698.01 -19.14 15,501.59 20,712.37 -5,210.78 -25.16
Table 2:
Unit: RMB 0'000 yuan
Item Amount Percentage of Total Amount of Profit
(%)
Jan.-Sep. 2002 Jan.-June Jan.-Sep. 2002 Jan.-June 2002
2002
Profit from principal operating 79,128.80 53,242.77 119.79 119.52
activities
Profit from other activities 36.83 27.95 0.06 0.06
Expenses during the period 11,402.81 6,876.96 17.26 15.44
Investment income 1,584.56 104.93 2.40 0.24
Subsidy income 0.00 0.00 0.00 0.00
Net non-operating income -3,288.96 -1,950.09 -4.98 -4.38
Total profit 66,058.43 44,548.60 100.00 100.00
Analysis of the Operating Results During the Third Quarter:
(A) The decrease in income from principal operating activities is due to
the decrease of electricity sale to the grid and the drop of the comprehensive
settlement electricity price of this quarter.
(B) The decrease in profit from principal operating activities is
primarily attributable to the reduction of income from principal operating
activities.
(C) The drop in net profit is affected by income from principal operating
activities and is also due to the following factors:
a. In comparison with the same period in the previous year, the
Company's interest income decreased due to the adjustment of interest rate on
deposit and the reduction of bank savings of the Company. The financial expenses
of the Company increased by 21.7962 million yuan during this reporting period.
b. The Company began to benefit from its invested financial projects at
the end of 2000. During this reporting period, the Company has received the
dividends declared by Communication Bank and China Merchants Bank totaling
14.737 million yuan, thus increased the investment income of the Company.
c. The increase in non-operating expenses is attributable to the net
loss of scrap of fixed assets.
d. The decrease in income tax is due to the reduction of the total
profit and the refund of local part of the income tax from October to December
2001 totaling 16.5256 million yuan, which offset the total income tax.
(2) Financial Status
Unit: RMB 0'000 yuan
Item Amount Percentage of Total Amount of Asset
(%)
30 Sep. 2002 1 Jan. 2002 30 Sep. 2002 1 Jan. 2002
Monetary assets 98,915.87 145,940.06 11.76 18.67
Short-term investment 34,531.05 48.29 4.11 0.006
Accounts receivable 7,833.49 8,856.32 0.93 1.13
Inventories 9,695.19 10,642.96 1.15 1.36
Long-term investment 120,855.00 120,855.00 14.37 15.46
Net value of fixed assets 342,049.80 367,733.07 40.68 47.04
Construction in progress 186,137.66 97,057.15 22.14 12.41
Intangible assets and 27,527.07 23,106.14 3.27 2.96
other assets
Total assets 840,770.37 781,788.45 100.00 100.00
Analysis of the Financial Status:
(A) The decrease in monetary assets in comparison with the beginning of
the year is mainly due to the increase of short-term investment. As at the end
of this reporting period, the short-term investment of the Company is composed
of the trusted fund management totaling 300 million yuan and the purchase of
state treasury bonds totaling 45 million yuan.
(B) The accounts receivable at the beginning of the year was the
electricity sale income for the last ten-day period of December last year, the
accounts receivable at the end of the period was the electricity sale income for
the last ten-day period of September this year.
(C) The decrease in net value of fixed assets is mainly due to the
increase of accumulated depreciation.
(D) The increase in construction in progress is attributable to the
consolidated statements of Zhejiang Changxing Power Generation Co. Ltd.
(Zhejiang Changxing Power Plant Phase IV)
(E) The increase in intangible assets and other assets is attributable to
the increase of long-term deferred expenses. The long-term deferred expenses are
the initial expenses of Zhejiang Changxing Power Generation Co. Ltd., a
controlling subsidiary of the Company.
(3) Contingent and Subsequent Events
(A) The Company was not subjected to any major litigation or arbitration,
or such events happened before and continued to this reporting period.
(B) No additional guarantees were provided in the reporting period. The
guarantees happened before and continued to the end of this reporting period are
as follows:
Guaranteed Company Relations with the Guarantee Content Maximum Guarantee Amount
Company
Zhejiang Changxing Power Controlling Subsidiary of To provide the 1.17 billion yuan
Generation Co. Ltd. the Company construction of Zhejiang
Changxing Power Plant
Phase IV with
shareholders' guarantees
proportional to its
investment and there is no
joint responsibilities
between the shareholders.
Zhejiang Jiahua Power companies in which the To provide the 1.848 billion yuan
Generation Co. Ltd. Company has shareholding construction of Zhejiang
Jiaxing Power Plant Phase
II with shareholders'
guarantees proportional to
its investment and there
is no joint
responsibilities between
the shareholders.
The above guarantees show no signs of potential indebtedness.
(C) There are not any events subsequent to balance sheet date during the
reporting period.
(4) Important Related Transactions
a. Power Sales
Because of the special characteristics and current status of the power industry,
ZPEPC is the single buyer in Zhejiang power grid. The generation by the power
plants under the Company is all sold to ZPEPC. The income from principal
operating activities of the Company all comes from the electricity sale to the
grid. ZPEPC is the second largest shareholder of the Company.
b. Coal Purchase
Coal supply for power generation by the Company was solely sourced from Zhejiang
Fuxing Power Fuel Co., Ltd, which is a subsidiary with its controlling shares
held by Zhejiang Provincial Power Fuel Corp. (a wholly-owned subsidiary of
ZPEPC) and part of its shares held by the Company.
c. Trusted Loan
During this reporting period, the Company provides trusted loans to its
controlled subsidiary Zhejiang Changxing Power Generation Co. Ltd totaling RMB
50 million yuan. The trusted loans happened before and continued to the end of
this reporting period are as follows:
Trustee Amount (0'000 Term Interest Rate/ Date of Usage
yuan) year Agreement
Zhejiang 5,000.00 1 year 5.85% Dec.2001 Basic
Changxing Power Construction of
Generation Co. Zhejiang
Ltd. Changxing Power
Plant Phase IV
Zhejiang 5,000.00 1 year 5.85% Jan.2002 Basic
Changxing Power Construction of
Generation Co. Zhejiang
Ltd. Changxing Power
Plant Phase IV
Zhejiang 5,000.00 1 year 5.85% Sep.2002 Basic
Changxing Power Construction of
Generation Co. Zhejiang
Ltd. Changxing Power
Plant Phase IV
(5) Other Important Matters
a. During the reporting period, there was no major change in the
production and operation environment, the policies and regulations of the
Company.
b. During the reporting period, the Company was not subjected to any
major asset acquisition or sale, enterprise merger or such events happened
before and continued to this reporting period.
c. In line with Document Zhe Cai Qi Yi Zi (2002) 49 Letter of Consent
on Refund of Corporate Income Tax to ZSEPC of Zhejiang Ministry of Finance, the
Company received during the reporting period a refund equal to 18% of the local
portion of the tax payment for the period October to December 2001 amounting to
RMB 16.5256 million yuan.
d. In compliance with the notice requiring provincial enterprises to
conduct self-examination of tax payment issued by the Tax Inspection Bureau
under the Zhejiang Branch of State Taxation Bureau, the Company has made a
self-examination of the tax payment and paid the overdue income tax, value-added
tax and related outlay for liquidated damages for 2001 totaling 31.85 million
yuan. This has been explained in "Other important and subsequent events" of the
Interim Report of the Company. The Company has made the above-mentioned payments
during this reporting period.
e. The Company and the controlling shareholders had no committed
events.
IV. Financial Documents (Unaudited)
1. Financial Statement
(1) Simplified consolidated balance sheet
Unit: RMB 0'000 yuan
30 Sep. 2002 1 Jan. 2002
Current assets 163,893.21 168,724.37
Long-term investment 120,855.00 120,855.00
Net value of fixed assets 342,049.80 367,733.07
Intangible assets and other 27,527.07 23,106.14
assets
Total assets 840,770.37 781,788.45
Current liabilities 152,264.44 156,482.81
Long-term liabilities 85,212.00 67,212.69
Minority shareholders' equity 21,350.00 21,350.00
Shareholders' equity 581,943.92 536,742.95
(2) Simplified consolidated statement of profit
Unit: RMB 0'000 yuan
July-Sep. 2002 Jan.-Sep.2002
Income from principal 85,738.69 245,123.78
operating activities
Profit from principal 25,886.03 79,128.80
operating activities
Profit from other activities 8.88 36.83
Expenses during the period 4,525.86 11,402.81
Investment income 1,479.64 1,584.56
Net value of non-operating -1,338.87 -3,288.96
income
Income tax 6,008.24 20,857.45
Net profit 15,501.59 45,200.98
2. Notes to Financial Statements
(1) The accounting policies and assumptions adopted by the Company and
the scope for the consolidation of financial statements underwent no changes
compared with those of the Interim Report 2002.
(2) The accounting policies adopted by the Company during this reporting
period has no significant differences with that of the Annul Report 2001.
(3) All the subsidiaries which ought to be consolidated into the
consolidated financial statements have been incorporated in consolidated
financial statements.
Board of Directors
Zhejiang Southeast Electric Power Company Limited
25 October 2002
Balance Sheet
As at 30 September 2002
Prepared by: Zhejiang Southeast Electric Power Company Limited
Unit: RMB Yuan
Assets Ending Amount Beginning Amount
Consolidated Company Consolidated Company
Current assets
Monetary assets 989,158,660.64 967,781,972.60 1,459,410,636.05 1,430,831,373.27
Short term investments 345,310,500.00 495,310,500.00 482,890.00 50,523,515.00
Bills receivable
Share dividends receivable
Interests receivable
Accounts receivable 78,334,926.79 78,334,926.79 88,563,205.11 88,563,205.11
Other receivables 32,947,766.83 31,265,612.03 22,210,487.95 21,675,119.65
Prepayments 95,048,302.90 53,344,012.90 10,146,885.57 4,296,885.57
Subsidy receivable
Inventories 96,951,881.77 96,951,150.20 106,429,581.19 106,429,581.19
Deferred expenses 1,180,099.59 1,180,099.59
Long term investments in
bond due within 1 year
Other current assets
Total 1,638,932,138.52 1,724,168,274.11 1,687,243,685.87 1,702,319,679.79
current assets
Long term investments:
Long term equity 1,208,550,000.00 1,605,050,000.00 1,208,550,000.00 1,605,050,000.00
investments
Long term debt investments
Total long term investments 1,208,550,000.00 1,605,050,000.00 1,208,550,000.00 1,605,050,000.00
Fixed assets:
Costs of fixed assets 6,626,781,109.55 6,614,494,056.87 6,644,095,956.77 6,637,486,567.77
Less: Accumulated 3,206,283,133.68 3,204,659,780.04 2,966,765,248.60 2,966,147,451.48
depreciation
Net value of fixed assets 3,420,497,975.87 3,409,834,276.83 3,677,330,708.17 3,671,339,116.29
Less: Reserve for
fixed assets devaluation
Net value of fixed assets 3,420,497,975.87 3,409,834,276.83 3,677,330,708.17 3,671,339,116.29
Project material 1,914,972.50 1,521,518.00 41,556,517.00 13,075,066.00
Construction in progress 1,861,376,628.28 93,117,686.27 970,571,471.38 52,417,570.37
Disposal of fixed assets 1,161,216.66 1,161,216.66 1,570,749.29 1,570,749.29
Total fixed assets 5,284,950,793.31 3,505,634,697.76 4,691,029,445.84 3,738,402,501.95
Intangible assets and other
assets:
Intangible assets 222,599,745.54 222,599,745.54 227,502,198.31 227,502,198.31
Long term deferred expenses 52,670,996.26 7,277,913.81 3,559,195.52 444,637.46
Other long term assets
Total intangible 275,270,741.80 229,877,659.35 231,061,393.83 227,946,835.77
and other assets
Deferred tax:
Deferred tax debit
Total assets 8,407,703,673.63 7,064,730,631.22 7,817,884,525.54 7,273,719,017.51
Ending Amount Beginning Amount
Liabilities and shareholders' equity Consolidated Company Consolidated Company
Current liabilities:
Short term borrowings 575,000,000.00 200,000,000.00
Bills payable 162,556,402.00
Accounts payable 324,867,111.92 136,533,658.82 233,465,102.22 125,644,647.62
Accounts received in advance
Wages payable 95,782,482.93 95,782,482.93 110,963,634.40 111,255,157.17
Welfare expenses payable 24,692,587.70 23,747,997.92 24,948,130.18 24,156,928.09
Dividends payable 502,500,000.00 502,500,000.00
Tax payable 99,814,552.33 100,194,483.28 107,126,219.56 107,108,076.24
Other payments due 12,575,180.65 12,575,180.65 4,863,247.04 4,851,621.04
Other payables 56,632,789.04 49,795,893.25 47,497,510.70 45,473,180.91
Accruals 89,208,321.71 89,208,321.71 7,404,293.09 7,079,293.09
Estimated liabilities
Long term liabilities due within one 81,515,000.00 81,515,000.00 326,060,000.00 326,060,000.00
year
Other current liabilities
Total current liabilities 1,522,644,428.28 589,353,018.56 1,564,828,137.19 1,254,128,904.16
Long term liabilities:
Long term borrowings 852,120,000.00 652,120,000.00 672,126,900.00 652,120,000.00
Bonds payable
Long term payables
Special payables
Other long term liabilities
Total long term liabilities 852,120,000.00 652,120,000.00 672,126,900.00 652,120,000.00
Deferred tax:
Deferred tax credit
Total liabilities 2,374,764,428.28 1,241,473,018.56 2,236,955,037.19 1,906,248,904.16
Minority shareholders' equity 213,500,000.00 213,500,000.00
Shareholders' equity
Share capital 2,010,000,000.00 2,010,000,000.00 2,010,000,000.00 2,010,000,000.00
Less: investments paid back
Net value of share capital 2,010,000,000.00 2,010,000,000.00 2,010,000,000.00 2,010,000,000.00
Capital reserve 1,863,272,079.51 1,863,272,079.51 1,863,272,079.51 1,863,272,079.51
Surplus reserve 659,279,834.68 659,279,834.68 659,279,834.68 659,279,834.68
Including: statutory common welfare 329,639,917.34 329,639,917.34 329,639,917.34 329,639,917.34
reserve
Undistributed profits 1,286,887,331.16 1,290,705,698.47 834,877,574.16 834,918,199.16
Total shareholders' equity 5,819,439,245.35 5,823,257,612.66 5,367,429,488.35 5,367,470,113.35
Total liabilities and owners' equity 8,407,703,673.63 7,064,730,631.22 7,817,884,525.54 7,273,719,017.51
Statement of Profit
Prepared by: Zhejiang Southeast Electric Power Company Limited
Unit: RMB Yuan
2002 2001
Consolidated Company
Item July-Sep. Jan.-Sep. July-Sep. Jan.-Sep. July-Sep. Jan.-Sep.
1. Income from 857,386,913.82 2,451,237,828.99 857,386,913.82 2,451,237,828.99 932,212,656.19 2,517,846,552.02
principal
operating
activities
Less: Principal 587,968,621.80 1,627,531,837.41 587,968,621.80 1,627,531,837.41 587,787,927.29 1,620,458,452.02
operating costs
Principal 10,557,991.28 32,417,994.62 10,557,991.28 32,417,994.62 12,048,980.82 32,773,627.90
operating tax and
surtax
2. Profit from 258,860,300.74 791,287,996.96 258,860,300.74 791,287,996.96 332,375,748.08 918,614,471.70
principal
operating
activities
(loss indicated
by "-")
Add: Profit from 88,837.30 368,324.22 88,837.30 368,324.22 1,674,868.50 1,982,840.60
other activities
(loss indicated
by "-")
Less: Operating
expenses
Administrative 37,245,325.41 84,678,940.49 37,245,325.41 84,678,940.49 36,461,803.95 103,251,815.40
expenses
Financial 8,013,241.26 29,349,186.91 8,013,241.26 29,349,186.91 -13,782,986.35 -7,304,225.44
expenses
3.Operating 213,690,571.37 677,628,193.78 213,690,571.37 677,628,193.78 311,371,798.98 824,649,722.34
profit
(loss indicated
by "-")
Add: Investment 14,796,368.79 15,845,629.95 16,193,147.29 19,623,372.26 833,986.28 833,986.28
income
(loss indicated
by "-")
Subsidy income
Non-operating 31,423.11 399,686.67 31,423.11 399,686.67 34,884.20 206,455.71
income
Less:
Non-operating 13,420,115.78 33,289,240.69 13,420,115.78 33,289,240.69 3,162,192.43 7,856,041.91
expenses
4.Gross profit 215,098,247.49 660,584,269.71 216,495,025.99 664,362,012.02 309,078,477.03 817,834,122.42
(loss indicated
by "-")
Less: Income tax 60,082,372.74 208,574,512.71 60,082,372.74 208,574,512.71 101,954,821.62 258,844,184.60
5.Net profit 155,015,874.75 452,009,757.00 156,412,653.25 455,787,499.31 207,123,655.41 558,989,937.82
(loss indicated
by "-")
This information is provided by RNS
The company news service from the London Stock Exchange
END
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Barclays 27 (LSE:BQ36)
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