2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
1
Zhejiang Dahua Technology Co., Ltd.
2021 Q1 Report
April, 2021
This document is a translated version of the Chinese version 2021 Q1 Report (“2021年第一季度报告”),
and the published 2021 Q1 Report in the Chinese version shall prevail.
The complete published Chinese 2021 Q1 Report may be obtained at http://www.cninfo.com.cn.
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
2
Section I Important Notice
The Board of Directors, the Board of Supervisors, directors,
supervisors and senior management members of the Company hereby
guarantee that the information presented in this quarterly report is
authentic, accurate, complete and free of any false records, misleading
statements or material omissions, and they will bear joint and several
liability for such information.
All the directors attended the meeting of the Board of Directors for
the deliberation of this quarterly report.
Fu Liquan, the Company's legal representative, Xu Qiaofen, chief
accountant, and Zhu Zhuling, person in charge of accounting institution
(Accounting Officer) hereby declare and warrant that the financial
statements in the quarterly report are authentic, accurate, and complete.
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
3
Section II Basic Information about the Company
I. Key Accounting Data and Financial Indicators
Whether the Company needs performed retroactive adjustment or restatement of accounting data in prior years or not
□ Yes √ No
The Current Reporting
Period
The Same Period of Last
Year
Increase/Decrease of the
Current Reporting Period
Compared with the Same
Period of the Previous
Year
Operating Income (RMB) 5,114,399,101.72 3,501,562,275.80 46.06%
Net Profit Attributable to Shareholders
of the Listed Company (RMB)
347,573,484.46 317,916,471.89 9.33%
Net Profit Attributable to Shareholders
of the Listed Company after Deducting
Non-recurring Gains and Losses (RMB)
311,445,134.94 300,408,224.85 3.67%
Net Cash Flow Generated by
Operational Activities (RMB)
-1,327,570,256.40 -1,190,517,598.97 -11.51%
Basic Earnings per Share (RMB/Share) 0.12 0.11 9.09%
Diluted Earnings per Share
(RMB/Share)
0.12 0.11 9.09%
Weighted Average ROE 1.74% 2.01% -0.27%
At the End of the Current
Reporting Period
At the End of the
Previous Year
Increase/Decrease at the
End of the Current
Reporting Period
Compared with the End of
the Previous Year
Total assets (RMB) 37,793,288,583.82 36,595,034,080.75 3.27%
Net assets attributable to shareholders
of the listed company (RMB)
20,730,157,335.50 19,773,030,426.40 4.84%
Note: The investment income of current period is decreased by RMB 59 million compared with the same period of
previous year, a year-on-year decrease of 377.53%, mainly due to confirmed loss of RMB 98 million investment in
Leapmotor, an associate.
Non-recurring Gains and Losses Items and Their Amounts
√ Applicable □ Not applicable
Unit: RMB
Item The Amount from the Note
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
4
Beginning of the Year to
the End of the Current
Reporting Period
Profits or Losses from Disposal of Non-current Assets
(Including the Write-off for the Accrued Impairment of
Assets)
483,524.47
The Government Subsidies Included in the Current Profits
and Losses (Excluding the Government Subsidies Closely
Related to Regular Businesses of the Company And Issued
in the Quota or Quantity Based on the National Standards)
20,323,912.52
Gains or Losses From Investment or Asset Management
Entrusted to Others
-2,913,829.24
Profits and Losses Resulting from the Changes in Fair Value
for Holding Trading Financial Assets, Derivative Financial
Assets and Trading Financial Liabilities, Derivative Financial
Liabilities and Investment Income from Disposal of Trading
Financial Assets, Derivative Financial Assets, Trading
Financial Liabilities, Derivative Financial Liabilities, and
Other Obligatory Right Investment, Excluding the Effective
Hedging Businesses Related to the Regular Business
Operation of the Company
27,365,451.74
Non-operating Revenue and Expenses Other than the
above
1,484,792.89
Other Gains and Losses Items that Fit the Definition of
Non-Recurring Gains and Losses
169,645.79
Less: Impact of Income Tax 7,098,388.91
Impact of Minority Equity (After Tax) 3,686,759.74
Total 36,128,349.52 --
For items defined as non-recurring gains and losses according to the No. 1 Explanatory Announcement on Information
Disclosure for Companies Offering Their Securities to Public - Non-recurring Gains and Losses, or non-recurring gains
and losses items listed in the said document defined as recurring ones, please specify the reasons.
□ Applicable √ Not applicable
In the reporting period, the Company did not define any non-recurring gains and losses items defined and listed in the No.
1 Explanatory Announcement on Information Disclosure for Companies Offering Their Securities to Public - Non-recurring
Gains and Losses, as recurring gains and losses items.
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
5
II. The Total Number of Shareholder and the Holdings of the Top 10 Shareholders at
the End of the Current Reporting Period
1. The total number of common shareholders, the number of preferred shareholders with
restored voting rights and shareholding status of the top 10 shareholders
Unit: share
Total Number of Common
Shareholders at The End of The
Reporting Period
143,572
Total Number of Preferred
Shareholders (If Any) Whose
Voting Rights have been
Recovered at the End of the
Reporting Period
0
The shareholdings of the top 10 shareholders
Name of
Shareholder
Nature of
Shareholder
Shareholding
Percentage
Number of
Shares Held
Number of
Shares Held
with Limited
Sales
Conditions
Pledge or Freezing
State of Shares Number
Fu Liquan
Domestic
Natural Person
34.18% 1,023,868,980 767,901,735 Pledge 257,587,942
Zhu Jiangming
Domestic
Natural Person
5.36% 160,577,490 120,433,117 Pledge 37,000,000
Shanghai
Perseverance
Asset
Management
(Limited
Partnership) -
Gaoyi Linshan
No.1 Yuanwang
Fund
Others 3.84% 115,000,000 0
Hong Kong
Securities
Clearing Co.
Ltd.
Overseas Legal
Person
3.81% 114,260,034 0
Chen Ailing
Domestic
Natural Person
2.38% 71,262,813 53,447,110 Pledge 21,100,000
Wu Jun
Domestic
Natural Person
2.31% 69,250,886 51,938,164
China Galaxy
Securities Co.,
State-owned
Legal Person
1.61% 48,262,726 0
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
6
Ltd.
China Securities
Finance Co.,
Ltd.
Domestic
Non-state-owne
d Legal Person
1.32% 39,611,241 0
Central Huijin
Asset
Management
Co., Ltd.
State-owned
Legal Person
1.05% 31,448,750 0
Shanghai
Greenwoods
Asset
Management
Co., Ltd. -
Greenwoods
Global Fund
Others 0.95% 28,361,893 0
Shareholding List of Top Ten Shareholders without Limited Sales Condition
Name of Shareholder
Number of Shares Held without Limited Sales
Condition
Type of Shares
Type of Shares Number
Fu Liquan 255,967,245
RMB common
stock
255,967,245
Shanghai Perseverance Asset
Management (Limited
Partnership) - Gaoyi Linshan
No.1 Yuanwang Fund
115,000,000
RMB common
stock
115,000,000
Hong Kong Securities Clearing
Co. Ltd.
114,260,034
RMB common
stock
114,260,034
China Galaxy Securities Co., Ltd. 48,262,726
RMB common
stock
48,262,726
Zhu Jiangming 40,144,373
RMB common
stock
40,144,373
China Securities Finance Co.,
Ltd.
39,611,241
RMB common
stock
39,611,241
Central Huijin Asset Management
Co., Ltd.
31,448,750
RMB common
stock
31,448,750
Shanghai Greenwoods Asset
Management Co., Ltd. -
Greenwoods Global Fund
28,361,893
RMB common
stock
28,361,893
Agricultural Bank of China Co.,
Ltd.- Shanghai Investment
Morgan Emerging Power Hybrid
18,691,142
RMB common
stock
18,691,142
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
7
Securities Investment Fund
Chen Ailing 17,815,703
RMB common
stock
17,815,703
Description of the association
relationship or concerted action
of above-mentioned shareholders
Mr. Fu Liquan And Ms. Chen Ailing Are Husband And Wife. The Company Is Unaware
Of Whether Other Shareholders Have Associated Relationship Or Are Persons Acting
In Concert.
Explanation On Top Ten
Shareholders’ Participation In
Securities Margin Trading (If Any)
N/A
Whether the Company's top ten common shareholders or top ten common shareholders without limited shares agree on
any repurchase transaction in the reporting period
□ Yes √ No
None of the Company's top ten common shareholders or top ten common shareholders without limited shares agreed on
repurchase in the reporting period.
2. The total number of the preferred shareholders and the shareholdings of the top 10 preferred
shareholders
□ Applicable √ Not applicable
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
8
Section III Significant Events
I. The Changes in Major Financial Data and Financial Indicators in the Current
Reporting Period and the Reasons
√ Applicable □ Not applicable
i. The changes of assets and liabilities and the reasons
1. Trading Financial Assets increased by 20374.31% compared with end of the previous year, mainly due to newly
increased structured deposits in this period.
2. Long-term Equity Investment increased by 90.50% compared with end of the previous year, mainly due to the change in
Shareholders' Equity of company's associates in the current period, and the company confirmed the corresponding share
according to the shareholding ratio;
3. Other Non-current Financial Assets increased by 140.57% compared with end of the previous year, mainly due to
investment of RMB 500 million in new asset management plan in this period;
4. The right-of-use Assets increased by 100% compared with end of the previous year, mainly due to the implementation
of the new lease standards and related statement adjustment in this period.
5. Intangible assets increased by 46.08% compared with end of the previous year, mainly due to the newly purchased
land in this period.
6. Short-term loan increased by 392.23% compared with end of the previous year, mainly due to the increase of bank loan
in this period;
7. Transaction financial liabilities increased by 100% compared with end of the previous year, mainly due to changes in
the fair value of foreign currency exchange contracts in this period;
8. The salary payable to employees decreased by 64.09% compared with end of the previous year, mainly due to the
issuance of year-end bonus in this period;
9. Non-current liabilities due within one year increased by 50.83% compared with end of the previous year, mainly due to
the implementation of the new lease standards and reclassification of lease liabilities due within one year in this period;
10. Other Current Liabilities increased by 35.83% compared with end of the previous year, mainly due to the increase in
the bills to be unrecognized compared in this period;
11. Long-term Loan increased by 56.95% compared with end of the previous year, mainly due to the increase of long-term
bank loan in this period;
12. Lease Liabilities increased by 100% compared with end of the previous year, mainly due to implementation of the new
lease standards and related adjustments in this period;
13. The Capital Reserves increased by 30.03% compared with end of the previous year, mainly due to confirmed increase
of the changes in other rights and interests of associates in this period;
(II) The changes of items in the income statement and the reasons
1. Operating income increased by 46.06% compared with same period of previous year, mainly due to expansion of the
company's sales scale;
2. Operating Costs increased by 70.02% compared with same period of the previous year, mainly due to the cost
increases as the revenue grows;
3. Taxes and Surcharges increased by 142.08% compared with same period of previous year, mainly due to the increase
of turnover tax payable in this period;
4. Financial Expenses decreased by 41.67% compared with same period of previous year, mainly due to the increase in
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
9
interest income in this period;
5. Other Income decreased by 30.94% compared with same period of the previous year, mainly due to the decrease in
value-added tax refund;
6. Investment Income decreased by 377.53% compared with same period of the previous year, mainly due to confirmed
investment losses of associates in this period;
7. The gains and losses from changes in fair value increased by 100% compared with same period of the previous year,
mainly due to the increase of fair value changes in Other Non-current Financial Assets;
8. Credit Impairment Losses increased by 185.89% compared with same period of the previous year, mainly due to the
increase of the provisions for bad debts accrued in this period;
9. Asset Impairment Losses increased by 212.70% compared with same period of the previous year, mainly due to the
increase of inventory depreciation provisions made during the current period;
10. Non-operating Revenues increased by 56.93% compared with the same period of previous year, mainly due to the
increase of contract liquidated damages received in this period;
11. Non-operating Expenses decreased by 71.87% compared with same period of previous year, mainly due to the
decrease of donation in this period;
12. Income Tax Expenses increased by 119.29% over the same period of the previous year, mainly due to the increase of
taxable income in this period;
(III) The changes of items in the cash flow statement and the reasons
1. The net amount of cash flow generated by investment activities decreased by 320.94% compared with same period of
the previous year, mainly due to the increase of entrusted financial management investment in this period.
II. Progress of Significant Events and the Analysis of Its Influence and Solutions
√ Applicable □ Not applicable
1. On January 8, 2021, the eighth meeting of the seventh Board of Directors of the company reviewed and approved the
"Proposal on Joint Capital Increase and Related Party Transactions with Related Parties", and agreed that the company
and related parties Zhang Xingming, He Chao, Ningbo Huaqi Investment Management Partnership (Limited Partnership),
Hangzhou Kangpi Enterprise Management Partnership (Limited Partnership) and non-related party Yao Weizhong to sign
the "Agreement on Equity Transfer and Capital Increase of Zhejiang Healnoc Technology Co., Ltd.". The company and
related parties Zhang Xingming, He Chao, Ningbo Huaqi Investment Management Partnership (Limited Partnership),
Hangzhou Kangpi Enterprise Management Partnership (Limited Partnership) and unrelated party Yao Weizhong
contributed RMB 50 million in total to Zhejiang Healnoc Technology Co., Ltd. (referred to as " Healnoc") as capital
increase. In which, the company invested RMB 20 million of its own funds, holding 20% of Healnoc equity, and Healnoc
became a shareholding company. The procedures for industrial and commercial change of the above matters have been
completed in February 2021.
2. On January 8, 2021, the eighth meeting of company seventh Board of Directors reviewed and approved "Proposal on
Giving up Shareholding Company Equity Increase in Capital and Related Party Transactions". Zhu Jiangming, Gao Dong,
Chen Jinxia, Ningbo Hualing Investment management partnership( limited partnership), total of 14 investors made a B-1
round of capital increase in Leapmotor Technology. The related transaction amount of company giving up the right to
increase capital in the same proportion was RMB 458,459 million. The procedures for the industrial and commercial
change of the above matters have been completed in January 2021.
3. On January 27, 2021, the ninth meeting of the seventh Board of Directors the company reviewed and approved
"Proposal on Giving up the Shareholding Company Equity Increase in Capital and Related Party Transactions". A total of
10 investors, including Zhejiang Mituo Investment Co., Ltd., Gao Dong, Huzhou Heninghai Investment Partnership
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
10
(Limited Partnership), intended to make a B-2 round of capital increase in Leapmotor. The amount of related party
transactions involved in the company's abandonment of the right to increase capital in the same proportion was RMB
166,835.46 million. The procedures for the industrial and commercial change of the above matters have been completed
in January 2021.
4. On March 26, 2021, the twelfth meeting of the seventh Board of Directors of the company and the eighth meeting of the
company seventh Board of Supervision, reviewed and approved "Proposal on Processing Scheme of Non-public
Issuance of Shares of Year 2021", "Proposal on Plan of Non-public Issuance of Shares of Year 2021" "Proposal on
Signing of agreement( Subscription Agreement for Non-public Issuance of Shares with Effective Conditions) between
company and the subscriber", "Proposal on Company Introducing Strategic Investors and Signing of Agreement (Strategic
Cooperation Agreement with Effective Conditions)", "Proposal on Company Non-public Issuance of Shares Related Party
Transactions" and so on. The company planned to issue 312,151,600 non-public shares, and the total amount of funds
raised did not exceed RMB 5.6 billion (including RMB 5.6 billion). The target company of this non-public issuance is China
Mobile Capital Holdings Co., Ltd., which is the wholly-owned subsidiary of China Mobile Communications Group Co.,
Ltd.,.
5. On April 1, 2021, the thirteenth meeting of the seventh Board of Directors and the ninth meeting of hte seventh Board of
Supervisors of the company, reviewed and approved the "Proposal of restricted share incentive plan for the second unlock
period of the first grant and reserving the achievement for the first unlock of Year 2018 " It approved to unlock 29,431,520
restricted shares held by 2,889 incentive targets who met the share unlock conditions. The matter was completed on April
15, 2021.
6. On April 1, 2021, the thirteenth meeting of the seventh Board of Directors of the company and the ninth meeting of the
seventh Board of Supervisors of the company reviewed and approved the "Proposal on Repurchase and Cancellation of
Part of Restricted Share (granted but not yet unlocked)". It approved to repurchase 1,028,860 restricted shares that have
been granted but not yet unlocked, held by 65 ex-employees , including 882,360 shares of first time granted at repurchase
price of RMB 8.17 per share and 146,500 reserved shares at a purchase price of RMB 8.75 per share. The aforesaid
repurchase and cancellation matters need to be submitted to the General Meeting of shareholders for approval.
Overview of the Significant Events Date of Disclosure
Indexes for the Inquiry of Websites
Disclosing the Provisional Reports
Related party transactions over capital increase in Healnoc
with related parties
January 9, 2021
Juchao Information Website
http://www.cninfo.com.cn/
Related matters on giving up the right to increase capital in
the same proportion of Leapmotor, a shareholding company
January 9, 2021
Juchao Information Website
http://www.cninfo.com.cn/
Related matters on giving up the right to increase capital in
the same proportion of Leapmotor, a shareholding company
January 28, 2021
Juchao Information Website
http://www.cninfo.com.cn/
Details of company non-public issuance of shares in Year
2021
March 27, 2021
Juchao Information Website
http://www.cninfo.com.cn/
Matters concerning the conditions for the first granting of
the second unlock period and reserved granting of the first
unlock period in 2018 Restricted Stock Incentive Plan
April 02, 2021
Juchao Information Website
http://www.cninfo.com.cn/
Details of repurchase and cancellation of restricted shares
that have been granted but not yet unlocked
April 02, 2021
Juchao Information Website
http://www.cninfo.com.cn/
The progress on share repurchase
□ Applicable √ Not applicable
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
11
The progress on reduction of re-purchase shares by means of centralized competitive bidding
□ Applicable √ Not applicable
III. Commitments made by the Company's actual controllers, shareholders, related
parties, purchasers and purchasing companies having not been fulfilled during the
reporting period
□ Applicable √ Not applicable
During this reporting period, there is no commitment made by the Company's actual controllers, shareholders, related
parties, purchasers and purchasing companies having not been fulfilled during the reporting period.
IV. Financial assets investment
1. Securities investment
□ Applicable √ Not applicable
No such case as securities investment during the reporting period.
2. Derivatives investment
√ Applicable □ Not applicable
Unit: ten thousand RMB
Name of
Derivatives
Investment
Operator
Relation
with
Related
Party
Whether It
Is A
Related
Transaction
Types of
Derivatives
Investment
Initial
Amount of
Derivatives
Investment
Starting
Date
Termination
Date
Initial
Investment
Amount
Amount
Purchased
during the
Reporting
Period
Amount
Sold during
the
Reporting
Period
Amount of
Provision
for
Impairment
Accrued (if
any)
Investment
Amount at
the End of
the Period
Proportion
of
Investment
Amount in
the
Company’s
Net Assets
at End of
the
Reporting
Period
Actual
Profit and
Loss
during
the
Reporting
Period
Bank
No
relations
No
Structured
deposits
50,000
January
26, 2021
June 30,
2021
50,000 50,000 2.41% 350.68
Bank
No
relations
No
Foreign
exchange
contract
November
27, 2020
March 31,
2022
40,904.41 299,051.09 215,601.24 124,354.26 6.00% 1,202.53
Total 50,000 -- -- 40,904.41 349,051.09 215,601.24 174,354.26 8.41% 1,553.21
Sources of funds for derivatives investment Equity Fund
Litigation involved (if applicable) N/A
Disclosure date of board of directors' April 3, 2020
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
12
announcement on the approval of derivatives
investment (if any)
Disclosure date of shareholder meeting's
announcement on the approval of derivatives
investment (if any)
May 13, 2020
Risk analysis and description of control
measures for derivatives positions during the
reporting period (including but not limited to
market risk, liquidity risk, credit risk,
operational risk, legal risk, etc.)
For details of risk analysis and control measures, please refer to the "Announcement on the Use of Own Funds to
Purchase Bank Wealth Management Products" (Announcement No. 2020-025) and "Announcement on Carrying out
Foreign Exchange Hedging Transactions" (Announcement No. 2020-022), which were disclosed on April 3, 2020.
Changes in market prices or product fair value
of invested derivatives during the reporting
period, and the analysis of the fair value of
derivatives should disclose the specific
methods used and the setting of related
assumptions and parameters.
For the structured deposits signed between the company and bank during the reporting period, the profit and loss of fair
value shall be determined according to the association between interest rate and the foreign exchange options. The
difference between the forward foreign exchange settlement contract quotation and the forward foreign exchange price
determined the transactional financial assets or transactional financial liabilities.
Explanation of whether the Company’s
derivatives accounting policies and specific
accounting principles have changed
significantly during the reporting period
compared with the previous reporting period
No
Independent directors' special opinions on the
Company's derivatives investment and risk
control
For details, please refer to the "Independent Opinions of Independent Directors on Related Matters" disclosed by the
company on April 3, 2020.
V. Progress of investment projects with raised funds
□ Applicable √ Not applicable
VI. Estimated operating performance from January to June, 2021
Warning and explanation of the prediction that the cumulative net profit from the beginning of the year to the end of the
next reporting period may be a loss or a significant change compared the same period of last year
□ Applicable √ Not applicable
VII. Major contracts in daily operations
□ Applicable √ Not applicable
VIII. Entrusted Financing
√ Applicable □ Not applicable
Unit: ten thousand RMB
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
13
Specific Type Funding Source Entrusted Amount Unexpired Balance
Overdue Outstanding
Amount
Bank financial
products
Equity Fund 50,000 50,000 0
Financial products of
securities companies
Equity Fund 50,000 50,000 0
Total 100,000 100,000 0
Specific matters on high-risk entrusted capital management with a large amount for a single item, or with low security,
poor liquidity and no capital preservation guarantee.
√ Applicable □ Not applicable
Unit: ten thousand RMB
Name of
Trustee
Organization
(or Name of
Trustee)
Trustee
Organization
(or Trustee)
Type
Product Type Amount
Capital
Source
Starting
Date
Termination
Date
Investment
Direction
Payment
Determination
Method
Reference
for
Annualized
Rate of
Return
Expected
Earnings
(If Any)
Actual
Profit and
Loss
during the
Reporting
Period
Actual
Recovery
of Profits
and
Losses
during the
Reporting
Period
Amount of
Provision
for
Impairment
Accrued (if
any)
Whether it
Passed the
Legal
Procedures
Whether
there Will
be
Entrusted
Financial
Plan in
the Future
Item
Overview
and
Related
Query
Index (if
any)
Guosen
Securities
co., Ltd.
Securities
company
Asset
Management
Plan
50,000
Equity
Fund
February
10, 2021
February 9,
2031
Private
equity fund
products,
fixed
income
assets,
equity
assets,
public
equity
hybrid
funds
Payment of
principal and
income at
maturity
-642.07 Unexpired Yes No
Total 50,000 -- -- -- -- -- -- -642.07 -- -- -- --
Cases of entrusted financing expected to be unable to recover the principal or cases that may result in impairment
□ Applicable √ Not applicable
IX. Illegal external guarantees
□ Applicable √ Not applicable
No illegal external guarantees during the reporting period.
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
14
X. Non-operational capital occupation over listed companies by controlling
shareholders and their related parties
□ Applicable √ Not applicable
During the reporting period, there is no non-operational capital occupation over listed companies by controlling
shareholders and their related parties.
XI. Registration form for reception of research, communication, interviews, and other
activities during the reporting period
√ Applicable □ Not applicable
Reception
Time
Reception
Location
Reception
Method
Reception
Target
Type
Reception Objects
Main Content of the
Discussion and the
Information Provided
Index of the Basic
Information of Research
January 29,
2021
Company
meeting
room
Combination of
field research and
telephone
communication
Institution
Destination Partners Limited, Frankline Templeton,
Inforesight, (China Insight, Fund in CRM), LSQ SPAC
Fund, Panjing, Harbourview Investment Fund, Point72,
UBS, Essence Securities, Essence Fund, Power Pacific,
Bingshen Investment, Bosera Fund , Caitong Fund,
Caitong Asset Management, Ivy Capital, Chengshi Assets,
All Fund, Morgan Stanley Huaxin fund, Danyi Investment,
Springs Capital, Dehui Group, Northeast Securities,
Dongfang Self-operated, Soochow Securities, East
Securities Asset Management , Dunhe Asset
Management, Fengling Capital, Fuanda Fund, Fidelity,
Fullgoal fund, Gaoyi, Green Fund, Golden Eagle Fund,
Golden Eagle, Invesco Great Wall, Jiutai Fund, Juming
Investment, Junze Investment, Kendall Square Capital,
Legend Investment, Neuberger Berman Fund, Minsheng
Royal Fund, China Southern Fund, Ningbo Bank Wealth
Management, Ningquan Assets, ABC-CA, Lion Fund, Ping
An Assets, Peifeng Assets, Penghua Fund, Ping An Asset
Management, Foresea Life Insurance, Headwater
Investment, Ren Bridge Asset Management, Rongtong
Fund, Foresight Fund, Xiamen Pearl Investment,
Shanghai Chengtou Investment, Shanghai Daoren Assets,
CIFM Asset Management, SWS Mu fund, Tenbagger
Capital, Suzhou Junrong Asset Management Co., Ltd. ,
CPIC, BOC International (China) Co.,Ltd, Bank of China
Investment Management, China Post, China Re Assets,
Rosefinch Fund, Zige Investment, CITIC Securities, CITIC
Asset Management, CITIC Prudential, CITIC Construction
Investment, Gen Xi Assets, ICBC Credit Suisse, GF Fund,
GF Securities , GF Proprietary, Sinolink Securities,
There is no information
about the overall
operating status of the
company, development
in new technologies,
Yunrui platform and five
major research institutes
introduction has not
been provided.
For more information, please
see the investor relations
activity list in
http://www.cninfo.com.cn
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
15
Guosheng Securities, China Life Security, China Life
Pension, China Life Assets, Guotai Fund, UBS SDIC,
Guosen Securities, Guoyuan Securities, Haitong
Securities, Hechuang Capital, HeXi Youfang Investing,
Hony Horizon Fund, Sequoia Capital, HC Capital, Huaan
Securities, Huaan Self-operated, Hua Chuang Securities,
Harfor Fund, Huashang Fund, Huatai Insurance, Huatai
Asset Management, Huaxia, China Everwin Asset, China
Future Capital Group, High Flyer Quant Fund, HSBC
Jintrust Fund, HuiJin Capital, China Universal Asset
Management, Harvest Fund, CCB, Jiangxin Fund, Bank of
Communications Schroders, Manulife TEDA Fund,
Taikang, Tianhong, Tongben Investment, Sunsource,
Wukong Investment, Western Leadbank FMC, Shiva
Investment, New China Fund , New China Assets, Cinda
Securities, CIB Fund, AEFON-Industrial Fund, Sun Fund,
discovering Investment, China Galaxy Securities, Yinhua
Fund, Argent Fund, Infore Capital, Yingke PE, Yongrui
Fortune, Maxwealth Fund, Yuhe Assets, GTS
Fund, .Longrising Fund, GORTUNE Investment, Ze Quan
Investment, Changjiang Pension, Changsheng Fund,
China Merchants Fund, Zheshang Fund, Zhong Geng
Fund, CICC, CICC Asset Management
March 24,
2021
Company
meeting
room
Telephone
communication
Institutions
and
individuals
Arohi Fund, Broad Peak Investment, Citi Bank, Cledit
Suisse, DTC Capital, MLP, Morgan Stanley, ABS Assets,
CQ Capital, Purekind Fund, Dacheng Fund Management,
Dahua Group, Springs Investment, Orient Securities,
Hillview Capital, Fidelity International Investment,
Hillhouse Capital, Everbright Securities, Guodu Securities,
Guohua Life Insurance, Guotai Fund, Citibank, Huaan
Securities, Huarong Securities, Huijing Assets, Harvest
Fund, Green wood Assets, JT Asset Management , Junhe
Capital, Lead Capital, Lin Fu Investment, Marco Polo
Asset Management, Macquarie Funds, Minsheng
Securities, DIB Asset Management, Morgan Stanley
Funds, Nanjing Securities, Lion Funds, Ruike Asset
Management Co., Ltd., Switzerland Credit, Shangao Asset
Management, Shanshi Fund, Shanghai Kandao Assets,
Shanghai Yiheng Investment, Shanghai Chasecloud Asset
Management Co., Ltd., CIFM Asset Management,
Deepstone Fund, Shenzhen Echo capital., Shenzhen
Xiangshu Assets , Taikang Asset Management Co., Ltd.,
Sunshine Capital, Southwest Securities, Starock
Investment, Easy Fund, Mutual Benefits, Great Wall
There is no information
about the operations
summary, future
strategic investment, and
development strategies
of each business sector
of the company Year in
2020.
For more information, please
see the investor relations
activity list in
http://www.cninfo.com.cn
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
16
Securities, Changjiang Securities, China Merchants Fund,
China Merchants Securities, CECport, China Life
Insurance, China Securities, CITIC Securities,
AVICA-COFCO Life Insurance, Zhongyu Investment,
JPMorgan Chase Securities, CPS Media, HSBC, Jpm,
Omdia, Omdia (IHS), Polar capital, UBS, Essence Fund,
Essence Securities, Essence Securities Asset
Management, Beijing Cheng Sheng Investment
Management Co., Ltd., Beijing Renbridge Asset
Management Co., Ltd., Beijing Changqing Foundation
Technology Management Co., Ltd., Shanghai Goldensum
Investment, Bingshen Investment, Cailian Press,
Chengyang Investment, Northeast Securities, Oriental
Fund, Oriental Securities Asset Management, Donghai
Securities, Soochow Fund, Soochow Securities, Founder
Securities, Fengpei Investment, Fudao Fund, Gangli
Investment, Gaoyi Assets, JPMorgan Chase, Granford
Assets, Everbright Securities Asset Management, GF
Securities, Guangzhou Hui Chuang Fu Xiang Investment,
Guohua Life Insurance, Gfund Management, Gfund
Wealth, Guolian Life Insurance, Guosheng Securities
Research Institute, Guosen Securities Economic
Research Institute, Guoyuan Securities, Hainan Quadrant
Fund, Haitong Securities, HEJV Capital, Hangzhou
Jiulong Asset Management Co., Ltd., Hangzhou
Rongzeshi Asset Management, Visione Asset, Hebei
Zebang New Energy Co., Ltd., Hechuang Investment ,
Hechuang Capital, Hony Horizon Fund, Huaan Fund, Hua
Chuang Securities, Harfor Fund, Beijing Huatai New
Industry Investment Fund, Huatai Securities
Self-operated, HSBC Jintrust Fund, Huijin Capital, China
Universal Fund, BoCommlife Insurance, Bank of
Communications Schroders, Capvision.
China Unicom 5G Fund of Funds, Lingze Capital, Mingya
Fund, ICBC Credit Suisse, Individual Investors
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
17
Section IV Financial Statements
I. Financial Statements
1. Consolidated Balance Sheet
Prepared by: Zhejiang Dahua Technology Co., Ltd.
March 31, 2021
Unit: RMB
Item March 31, 2021 December 31, 2020
Current Assets:
Cash and Bank Balances 6,293,350,353.36 7,471,652,634.66
Deposit Reservation for
Balance
Loans to Banks and Other
Financial Institutions
Trading Financial Assets 506,878,374.09 2,475,680.45
Derivative Financial Assets
Notes Receivable 222,586,828.58 232,857,354.55
Accounts Receivable 12,220,193,199.28 12,857,519,110.16
Receivables Financing 1,035,476,913.51 1,207,879,654.58
Prepayments 161,714,153.60 162,250,648.05
Premium Receivable
Reinsurance Accounts
Receivable
Reinsurance Contract Reserves
Receivable
Other Receivables 885,793,311.37 970,427,893.48
Including: Interest Receivable
Dividends Receivable
Buying Back the Sale of
Financial Assets
Inventory 6,097,103,756.18 4,928,019,838.00
Contract Assets 102,260,297.93 84,825,834.82
Holding for-sale Assets
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
18
Non-current Assets Due within
1 Year
612,063,373.30 635,956,549.07
Other Current Assets 661,270,153.24 558,434,219.93
Subtotal of Current Assets 28,798,690,714.44 29,112,299,417.75
Non-current Assets:
Granting of Loans and
Advances
Investment in Creditor's Rights
Investment in Other Creditor's
Rights
Long-term Receivables 2,122,293,873.57 2,250,315,769.50
Long-term Equity Investment 868,639,104.37 455,977,616.16
Investment in Other Equity
Instruments
Other Non-current Financial
Assets
866,261,508.85 360,087,786.34
Investment Property 332,088,083.04 336,008,869.13
Fixed Assets 1,959,919,814.17 1,515,594,629.97
Projects under Construction 978,543,887.77 1,164,130,453.03
Productive Biological Assets
Oil and gas assets
Right-of-use Assets 215,056,482.42
Intangible Assets 594,239,278.84 406,777,323.39
Development Expenditure
Goodwill 42,685,490.30 42,685,490.30
Long-term Deferred Expenses 35,454,858.63 32,280,430.67
Deferred Income Tax Assets 894,399,405.48 832,453,676.69
Other Non-current Assets 85,016,081.94 86,422,617.82
Subtotal of Non-current Assets 8,994,597,869.38 7,482,734,663.00
Total Assets 37,793,288,583.82 36,595,034,080.75
Current Liabilities:
Short-term Loan 1,231,454,666.13 250,177,083.34
Borrowings from the Central
Bank
Borrowings from Banks and
Other Financial Institutions
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
19
Transactional Financial
Liabilities
1,042,761.84
Derivative Financial Liabilities
Notes Payable 3,447,526,796.12 3,258,552,758.17
Accounts Payable 5,999,522,945.00 6,444,787,705.28
Received Prepayments
Contract Liabilities 819,678,608.61 671,120,385.08
Financial Assets Sold for
Repurchase
Deposit Taking and Interbank
Deposit
Receiving from Vicariously
Traded Securities
Receiving from Vicariously Sold
Securities
Payroll payable 648,335,502.61 1,805,464,535.31
Tax Payable 684,617,819.81 900,144,863.67
Other Payables 968,467,036.17 970,552,877.22
Including: Interest Payable
Dividends Payable 12,982,399.27 12,982,399.27
Service Charge and
Commission Payable
Reinsurance Accounts Payable
Holding for-sale liabilities
Non-current Liabilities Due
within 1 Year
229,097,062.00 151,891,709.34
Other Current Liabilities 284,440,354.28 209,401,914.77
Subtotal of Current Liabilities 14,314,183,552.57 14,662,093,832.18
Non-current Liabilities:
Insurance Contract Reserves
Long-term Loan 1,378,000,000.00 878,000,000.00
Bonds Payable
Including: Preferred Stocks
Perpetual Bonds
Lease Liabilities 121,509,115.83
Long-term Payables
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
20
Long-term Payroll Payable
Expected Liabilities 266,393,066.24 282,427,517.82
Deferred Income 108,914,414.33 110,469,806.29
Deferred Income Tax Liabilities 61,845,851.13 67,272,768.46
Other Non-current Liabilities 369,645,918.81 391,128,045.90
Subtotal of Non-current Liabilities 2,306,308,366.34 1,729,298,138.47
Total Liabilities 16,620,491,918.91 16,391,391,970.65
Shareholders' Equity:
Share Capital 2,995,579,590.00 2,995,579,590.00
Other Equity Instruments
Including: Preferred Stocks
Perpetual Bonds
Capital Reserves 2,587,135,107.94 1,989,655,334.05
Less: Treasury Share 581,968,930.89 581,968,930.89
Other Comprehensive Incomes 73,231,173.88 61,157,523.13
Special Reserves
Surplus Reserves 1,553,691,005.92 1,553,691,005.92
General Risk Reserves
Undistributed Profits 14,102,489,388.65 13,754,915,904.19
Total Shareholders' Equity
Attributable to the Parent Company
20,730,157,335.50 19,773,030,426.40
Minority Shareholders' Equity 442,639,329.41 430,611,683.70
Total Shareholders' Equity 21,172,796,664.91 20,203,642,110.10
Total Liabilities and Shareholders'
Equity
37,793,288,583.82 36,595,034,080.75
Legal representative: Fu Liquan Person in charge of accounting: Xu Qiaofen Person in charge of the accounting
institution: Zhu Zhuling
2. Balance Sheet of the Parent Company
Unit: RMB
Item March 31, 2021 December 31, 2020
Current Assets:
Cash and Bank Balances 2,136,079,368.49 3,130,479,311.55
Trading Financial Assets 503,506,849.32
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
21
Derivative Financial Assets
Notes Receivable 76,325,143.14 74,284,006.99
Accounts Receivable 3,334,285,692.28 2,740,152,239.35
Receivables Financing 378,414,500.46 169,109,529.24
Prepayments 37,529,957.82 48,203,550.97
Other Receivables 13,084,595,903.61 13,796,603,550.30
Including: Interest Receivable
Dividends Receivable
Inventory 185,154,390.15 171,756,222.72
Contract Assets 8,316,811.52 8,338,657.15
Holding for-sale Assets
Non-current Assets Due within
1 Year
60,059,864.07 61,828,724.54
Other Current Assets 13,936,871.25 12,592.38
Subtotal of Current Assets 19,818,205,352.11 20,200,768,385.19
Non-current Assets:
Investment in Creditor's Rights
Investment in Other Creditor's
Rights
Long-term Receivables 99,393,268.82 100,221,713.49
Long-term Equity Investment 4,121,147,862.35 3,660,410,557.29
Investment in Other Equity
Instruments
Other Non-current Financial
Assets
849,976,508.85 355,853,684.59
Investment Property 171,060,808.18 173,003,549.71
Fixed Assets 570,329,253.75 550,991,444.04
Projects under Construction 499,398,442.52 438,014,907.22
Productive Biological Assets
Oil and gas assets
Right-of-use Assets 101,252,294.54
Intangible Assets 152,990,574.20 156,335,152.97
Development Expenditure
Goodwill
Long-term Deferred Expenses 19,225,823.44 21,149,342.55
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
22
Deferred Income Tax Assets 173,899,292.77 135,371,242.86
Other Non-current Assets 8,417,003.55 35,774,247.16
Subtotal of Non-current Assets 6,767,091,132.97 5,627,125,841.88
Total Assets 26,585,296,485.08 25,827,894,227.07
Current Liabilities:
Short-term Loan 529,121,332.80 250,177,083.34
Transactional financial
Liabilities
Derivative Financial Liabilities
Notes Payable 272,010,077.43 303,660,579.62
Accounts Payable 405,284,890.67 752,373,890.95
Received Prepayments
Contract Liabilities 78,560,588.43 85,275,423.36
Payroll Payable 409,905,572.96 1,127,500,408.14
Tax Payable 519,482,084.63 627,351,201.46
Other Payables 1,022,238,933.41 1,002,654,121.27
Including: Interest Payable
Dividends Payable 12,982,399.27 12,982,399.27
Holding for-sale Liabilities
Non-current Liabilities Due
within 1 Year
186,467,610.58 150,643,750.02
Other Current Liabilities 42,231,074.31 26,870,130.42
Subtotal of Current Liabilities 3,465,302,165.22 4,326,506,588.58
Non-current Liabilities:
Long-term Loan 1,250,000,000.00 750,000,000.00
Bonds Payable
Including: Preferred Stocks
Perpetual Bonds
Lease Liabilities 54,377,957.51
Long-term Payables
Long-term Payroll Payable
Expected Liabilities 8,058,379.20 8,333,634.18
Deferred Income
Deferred Income Tax Liabilities 29,315,669.37 29,407,289.24
Other Non-current Liabilities 10,272,904.15 10,599,934.34
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
23
Subtotal of Non-current Liabilities 1,352,024,910.23 798,340,857.76
Total Liabilities 4,817,327,075.45 5,124,847,446.34
Shareholders' Equity:
Share Capital 2,995,579,590.00 2,995,579,590.00
Other Equity Instruments
Including: Preferred Stocks
Perpetual Bonds
Capital Reserves 2,563,802,932.55 1,976,156,775.91
Less: Treasury Share 581,968,930.89 581,968,930.89
Other Comprehensive Incomes 544,380.66 522,554.00
Special Reserves
Surplus Reserves 1,553,691,005.92 1,553,691,005.92
Undistributed Profits 15,236,320,431.39 14,759,065,785.79
Total Shareholders' Equity 21,767,969,409.63 20,703,046,780.73
Total Liabilities and Shareholders'
Equity
26,585,296,485.08 25,827,894,227.07
3. Consolidated Income Statement
Unit: RMB
Item This Period's Amount of Occurrence Previous Period's Amount of Occurrence
I. Total Operating Revenue 5,114,399,101.72 3,501,562,275.80
Including: Operating Revenue 5,114,399,101.72 3,501,562,275.80
Interest Income
Earned Premiums
Service Charge and
Commission Income
II. Total Operating Cost 4,770,751,992.98 3,369,359,569.59
Including: Operating Cost 3,022,354,395.09 1,777,655,306.56
Interest Expenditures
Service Charge and
Commission Expenses
Surrender Value
Net Claims Paid
Net Amount of Withdrawn
Reserve for Insurance Liability
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
24
Contract
Policyholder Dividend
Expense
Reinsurance Cost
Taxes and Surcharges 45,259,450.42 18,696,287.45
Sales Expenses 884,332,162.54 794,773,576.60
Administration Expenses 186,886,265.44 150,490,749.11
Research and
Development Expense
605,759,333.31 582,896,157.53
Financial Expenses 26,160,386.18 44,847,492.34
Including: Interest
Expenses
16,480,279.65 21,544,585.52
Interest Income 57,860,554.10 45,305,751.27
Add: Other Income 159,998,097.67 231,668,573.00
Investment Income (Mark "-"
for Loss)
-74,602,834.57 -15,622,723.50
Including: Investment
Income from Affiliates and Joint
Ventures
-89,233,951.37 -16,724,727.64
Profits from Recognition
Termination of Financial Assets at
Amortized Cost
Exchange Gains (Mark "-"
for Losses)
Profit of Net Exposure
Hedging (Mark "-" for Loss)
Incomes from Changes in
Fair Value (losses marked with "-")
9,990,151.49
Credit Impairment Losses
(Mark "-" for Loss)
-19,450,426.80 -6,803,561.85
Asset Impairment Losses
(Mark "-" for Loss)
-4,764,740.17 -1,523,740.78
Asset Disposal Income
(Mark "-" for Loss)
846,368.96
III. Operating Profit (Mark "-" for Loss) 415,663,725.32 339,921,253.08
Add: Non-operating Revenues 3,038,549.12 1,936,274.21
Less: Non-operating Expenses 1,862,924.19 6,623,544.62
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
25
IV. Total Profit (Mark "-" for Total Loss) 416,839,350.25 335,233,982.67
Less: Income Tax Expense 57,238,292.05 26,101,996.30
V. Net Profit (Mark "-" for Net Loss) 359,601,058.20 309,131,986.37
(I) Classified by Operation
Continuity
1. Net Profit as a Going Concern
(Mark "-" for Net Loss)
359,601,058.20 309,131,986.37
2. Net Profit of Discontinued
Operation (Mark "-" for Net Loss)
(II) Classified by the Attribution of
Ownership
1. Net Profit Attributable to
Shareholders of Parent Company
347,573,484.46 317,916,471.89
2. Minority Shareholders' Profit
and Loss
12,027,573.74 -8,784,485.52
VI. Net Amount of Other
Comprehensive Incomes after Tax
12,073,722.72 9,999,857.49
Net Amount of Other
Comprehensive Incomes after Tax
Attributable to the Parent Company's
Owner
12,073,650.75 9,999,864.59
(I) Other Comprehensive Income
that cannot be Reclassified as P/L
1. Re-measure the
Variation of the Defined Benefit Plan
2. Other Comprehensive
Income that cannot be Transferred to
P/L under the Equity Method
3. Changes in the Fair
Value of Investment in Other Equity
Instruments
4. Changes in the Fair
Value of the Credit Risk of the
Enterprise
5. Others
(II) Other Comprehensive Income
that will be Reclassified as P/L
12,073,650.75 9,999,864.59
1. Other Comprehensive
Income that can be Transferred to P/L
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
26
under the Equity Method
2. Changes in the Fair
Value of Investment in other Creditor's
Rights
3. Financial Assets
Reclassified into other
Comprehensive Income
4. Provisions for the Credit
Impairment of Investment in other
Creditor's Rights
5. Cash Flow Hedge
Reserves
6. Currency Translation
Difference
12,538,226.45 9,999,864.59
7. Others -464,575.70
Net Amount of Other
Comprehensive Incomes after Tax
Attributable to Minority Shareholders
71.97 -7.10
VII. Total Comprehensive Income 371,674,780.92 319,131,843.86
Total Comprehensive Income
Attributable to the Parent Company's
Owner
359,647,135.21 327,916,336.48
Total Comprehensive Income
Attributable to Minority Shareholders
12,027,645.71 -8,784,492.62
VIII. Earnings per Share:
(I) Basic Earnings per Share 0.12 0.11
(II) Diluted Earnings per Share 0.12 0.11
Legal representative: Fu Liquan Person in charge of accounting: Xu Qiaofen Person in charge of the accounting
institution: Zhu Zhuling
4. Income Statement of the Parent Company
Unit: RMB
Item This Period's Amount of Occurrence Previous Period's Amount of Occurrence
I. Operating Revenue 1,563,961,550.22 1,534,303,148.70
Less: Operating Cost 243,645,162.63 223,891,713.58
Taxes and Surcharges 19,757,987.18 10,768,457.54
Sales Expenses 279,505,529.10 250,468,420.26
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
27
Administration Expenses 91,753,307.57 75,613,815.40
Research and
Development Expense
454,461,822.19 496,224,547.93
Financial Expenses -12,966,763.14 -4,875,931.36
Including: Interest
Expenses
13,058,070.76 14,345,671.26
Interest Income 27,404,419.95 19,875,466.93
Add: Other income 126,639,304.33 204,171,397.15
Investment Income (Mark
"-" for Loss)
-94,254,915.67 -10,851,788.21
Including: Investment
Income from Affiliates and Joint
Ventures
-96,713,821.28 -11,978,886.10
Profits from
Derecognition of Financial Assets at
Amortized Cost (Mark "-" for Loss)
Profit of Net Exposure
Hedging (Mark "-" for Loss)
Incomes from changes in
fair value (losses marked with "-")
-1,913,829.24
Credit Impairment Losses
(Mark "-" for Loss)
4,028,611.39 6,922,219.15
Asset Impairment Losses
(Mark "-" for Loss)
-123,203.33
Asset Disposal Income
(Mark "-" for Loss)
623,180.23
II. Operating Profit (Mark "-" for
Loss)
522,803,652.40 682,453,953.44
Add: Non-operating Revenues 2,458,012.55 1,387,746.17
Less: Non-operating Expenses 161,235.05 5,434,839.68
III. Total Profit (Mark "-" for Total
Loss)
525,100,429.90 678,406,859.93
Less: Income Tax Expense 47,845,784.30 51,135,509.16
IV. Net Profit (Mark "-" for Net Loss) 477,254,645.60 627,271,350.77
(I) Net Profit as a Going
Concern (Mark "-" for Net Loss)
477,254,645.60 627,271,350.77
(II) Net Profit of Discontinued
Operation (Mark "-" for Net Loss)
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
28
V. Net Amount of Other
Comprehensive Incomes After Tax
21,826.66
(1) Other Cmprehensive
Income that cannot be Reclassified
as P/L
1. Re-measure the
Variation of the Defined Benefit Plan
2. Other Comprehensive
Income that cannot be Transferred
to P/L under the Equity Method
3. Changes in the Fair
Value of Investment in other Equity
Instruments
4. Changes in the Fair
Value of the Credit Risk of the
Enterprise
5. Others
(II) Other Comprehensive
Income that will be Reclassified as
P/L
21,826.66
1. Other Comprehensive
Income that can be Transferred to
P/L under the Equity Method
2. Changes in the Fair
Value of Investment in Other
Creditor's Rights
3. Financial Assets
Reclassified into Other
Comprehensive Income
4. Provisions for the
Credit Impairment of Investment in
Other Creditor's Rights
5. Cash Flow Hedge
Reserves
6. Currency Translation
Difference
7. Others 21,826.66
VI. Total Comprehensive Income 477,276,472.26 627,271,350.77
VII. Earnings per Share:
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
29
(I) Basic Earnings per Share 0.16 0.22
(II) Diluted Earnings per Share 0.16 0.22
5. Consolidated Cash Flow Statement
Unit: RMB
Item This Period's Amount of Occurrence Previous Period's Amount of Occurrence
I. Cash Flow Generated by
Operational Activities:
Cash from Sales of
Merchandise and Provision of
Services
6,696,184,907.84 6,120,271,238.59
Net Increase in Customer's
Bank Deposits and Interbank
Deposits
Net Increase in Borrowings
from the Central Bank
Net Increase in Borrowings
from Other Financial Institutions
Cash Arising from Receiving
Premiums for the Original Insurance
Contract
Net Amount Arising from
Reinsurance Business
Net Increase in Deposits and
Investments from Policyholders
Cash Arising from Interests,
Service Charges and Commissions
Net Increase in Borrowings
from Banks and Other Financial
Institutions
Net Increase in Repurchase
Business Funds
Net Amount of Cash Received
from the Vicariously Traded
Securities
Tax Refund 538,055,790.42 740,215,721.64
Other Received Cashes
Related to Operational Activities
54,578,627.89 44,949,326.78
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
30
Subtotal of Cash Inflow from
Operational Activities
7,288,819,326.15 6,905,436,287.01
Cash Paid for Merchandise and
Services
5,193,565,946.56 5,017,346,044.66
Net Increase in Loans and
Advances to Customers
Net Increase in Deposits with
Central Bank and Other Financial
Institutions
Cash Paid for Original
Insurance Contract Claims
Net Increase of Funds Lent
Cash Paid for Interests, Service
Charges and Commissions
Cash Paid for Policy Dividends
Cash Paid to and for
Employees
2,392,888,197.29 1,981,075,262.40
Cash Paid for Taxes and
Surcharges
562,650,190.08 636,310,647.26
Other Paid Cashes Related to
Operational Activities
467,285,248.62 461,221,931.66
Subtotal of Cash Outflow from
Operational Activities
8,616,389,582.55 8,095,953,885.98
Net Cash Flow Generated by
Operating Activities
-1,327,570,256.40 -1,190,517,598.97
II. Cash Flow from Investment
Activities:
Cash Arising from Disposal of
Investments
290,456,497.18 199,900,000.00
Cash Arising from Investment
Incomes
11,560,064.44 640,733.53
Net Cash Arising from Disposal
of Fixed Assets, Intangible Assets
and Other Long-term Assets
565,031.37 219,552.16
Net Cash Arising from Disposal
of Subsidiaries and Other Business
Units
Other Received Cashes
Related to Investment Activities
18,821,667.60 1,619,946.28
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
31
Subtotal of Cash Inflow from
Investment Activities
321,403,260.59 202,380,231.97
Cash Paid for Purchase and
Construction of Fixed Assets,
Intangible Assets and Other
Long-term Assets
297,175,969.38 127,443,261.33
Cash Paid for Investments 1,296,000,000.00 308,047,000.00
Net Increase in Pledge Loans
Net Cash Paid for Acquisition of
Subsidiaries and Other Business
Units
Other Paid Cashes Related to
Investment Activities
4,604,399.75 70,109,093.75
Subtotal of Cash Outflows from
Investment Activities
1,597,780,369.13 505,599,355.08
Net amount of Cash Flow Generated
by Investment Activities
-1,276,377,108.54 -303,219,123.11
III. Cash Flow from Financing
Activities:
Cash Arising from Absorbing
Investments
2,600,000.00
Including: Cash Arising from
Subsidiaries Absorbing Investments
by Minority Shareholders
2,600,000.00
Cash Arising from Borrowings 1,729,079,926.55 2,503,241,328.07
Other Received Cashes
Related to Financing Activities
0.00 241,066,000.00
Subtotal of Cash Inflow from
Financing Activities
1,729,079,926.55 2,746,907,328.07
Cash Paid for Debts
Repayment
250,000,000.00 1,134,342,813.55
Cash Paid for Distribution of
Dividends and Profits or Payment of
Interests
12,204,555.53 13,192,254.16
Including: Dividends and Profits
Paid to Minority Shareholders by
Subsidiaries
Other Paid Cashes Related to
Financing Activities
27,392,770.30 241,066,000.00
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
32
Subtotal of Cash Outflow from
Financing Activities
289,597,325.83 1,388,601,067.71
Net Cash Flow Generated by
Financing Activities
1,439,482,600.72 1,358,306,260.36
IV. Impact of Fluctuation in
Exchange Rate on Cash and Cash
Equivalents
-22,308,563.47 -21,109,999.08
V. Net Increase in Cash and Cash
Equivalents
-1,186,773,327.69 -156,540,460.80
Add: Cash and Cash
Equivalents at the Commencement
of the Period
7,358,452,769.53 2,734,185,976.41
VI. Cash and Cash Equivalents at
the End of the Period
6,171,679,441.84 2,577,645,515.61
6. Cash Flow Statement of the Parent Company
Unit: RMB
Item This Period's Amount of Occurrence Previous Period's Amount of Occurrence
I. Cash Flow Generated by
Operational Activities:
Cash from Sales of
Merchandise and Provision of
Services
925,149,718.54 3,415,807,937.69
Tax Refund 117,475,226.11 241,436,506.43
Other Received Cashes
Related to Operational Activities
33,095,838.82 16,282,249.26
Subtotal of Cash Inflow from
Operational Activities
1,075,720,783.47 3,673,526,693.38
Cash Paid for Merchandise and
Services
502,090,945.49 43,425,201.12
Cash Paid to and for
Employees
1,387,469,606.70 1,276,096,836.81
Cash Paid for Taxes and
Surcharges
328,920,020.28 398,845,113.34
Other Paid Cashes Related to
Operational Activities
240,878,106.41 256,763,641.58
Subtotal of Cash Outflow from
Operational Activities
2,459,358,678.88 1,975,130,792.85
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
33
Net Cash Flow Generated by
Operating Activities
-1,383,637,895.41 1,698,395,900.53
II. Cash Flow from Investment
Activities:
Cash Arising from Disposal of
Investments
290,456,497.18 199,900,000.00
Cash Arising from Investment
Incomes
2,458,905.61 640,733.53
Net Cash Arising from Disposal
of Fixed Assets, Intangible Assets
and Other Long-term Assets
7,129,335.51 7,434,630.94
Net Cash Arising from Disposal
of Subsidiaries and Other Business
Units
Other Received Cashes
Related to Investment Activities
2,045,056.66 1,601,946.28
Subtotal of cash inflow from
investment activities
302,089,794.96 209,577,310.75
Cash Paid for Purchase and
Construction of Fixed Assets,
Intangible Assets and Other
Long-term Assets
88,557,828.17 75,087,633.55
Cash Paid for Investments 1,331,940,000.00 325,407,000.00
Net Cash Paid for Acquisition of
Subsidiaries and Other Business
Units
Other Paid Cashes Related to
Investment Activities
Subtotal of Cash Outflows from
Investment Activities
1,420,497,828.17 400,494,633.55
Net amount of Cash Flow Generated
by Investment Activities
-1,118,408,033.21 -190,917,322.80
III. Cash Flow from Financing
Activities:
Cash Arising from Absorbing
Investments
Cash Arising from Borrowings 1,029,079,926.55 1,739,800,000.00
Other Received Cashes
Related to Financing Activities
1,113,601,928.85 811,534,932.34
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
34
Subtotal of Cash Inflow from
Financing Activities
2,142,681,855.40 2,551,334,932.34
Cash Paid for Debts
Repayment
250,000,000.00 599,800,000.00
Cash Paid for Distribution of
Dividends and Profits or Payment of
Interests
10,665,273.61 8,418,694.92
Other Paid Cashes Related to
Financing Activities
380,050,687.97 3,537,474,262.85
Subtotal of Cash Outflow from
Financing Activities
640,715,961.58 4,145,692,957.77
Net Cash Flow Generated by
Financing Activities
1,501,965,893.82 -1,594,358,025.43
IV. Impact of Fluctuation in
Exchange Rate on Cash and Cash
Equivalents
6,203.88 1,932.87
V. Net Increase in Cash and Cash
Equivalents
-1,000,073,830.92 -86,877,514.83
Add: Cash and Cash
Equivalents at the Commencement
of the Period
3,090,496,504.00 860,741,299.14
VI. Cash and Cash Equivalents at
the End of the Period
2,090,422,673.08 773,863,784.31
II. Adjustments to the Financial Statements
1. Details of adjustment for financial statements at the beginning of year due to first
implementation of the new lease standards from 2021.
√ Applicable □ Not applicable
Whether the accounts of the balance sheet at the beginning of the year shall be adjusted
√ Yes □ No
Consolidated Balance Sheet
Unit: RMB
Item December 31, 2020 January 1, 2021 Adjusted amount
Current Assets:
Cash and Bank
Balances
7,471,652,634.66 7,471,652,634.66
Trading Financial
Assets
2,475,680.45 2,475,680.45
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
35
Notes Receivable 232,857,354.55 232,857,354.55
Accounts Receivable 12,857,519,110.16 12,857,519,110.16
Receivables
Financing
1,207,879,654.58 1,207,879,654.58
Prepayments 162,250,648.05 152,994,874.90 -9,255,773.15
Other Receivables 970,427,893.48 968,975,721.11 -1,452,172.37
Inventory 4,928,019,838.00 4,928,019,838.00
Contract Assets 84,825,834.82 84,825,834.82
Non-current Assets
Due within 1 Year
635,956,549.07 635,956,549.07
Other Current Assets 558,434,219.93 558,536,267.47 102,047.54
Subtotal of Current Assets 29,112,299,417.75 29,101,693,519.77 -10,605,897.98
Non-current Assets:
Long-term
Receivables
2,250,315,769.50 2,250,315,769.50
Long-term Equity
Investment
455,977,616.16 455,977,616.16
Other Non-current
Financial Assets
360,087,786.34 360,087,786.34
Investment Property 336,008,869.13 336,008,869.13
Fixed Assets 1,515,594,629.97 1,515,594,629.97
Projects under
Construction
1,164,130,453.03 1,164,130,453.03
Right-of-use Assets 155,673,708.67 155,673,708.67
Intangible Assets 406,777,323.39 406,777,323.39
Goodwill 42,685,490.30 42,685,490.30
Long-term Deferred
Expenses
32,280,430.67 32,280,430.67
Deferred Income Tax
Assets
832,453,676.69 832,453,676.69
Other Non-current
Assets
86,422,617.82 86,422,617.82
Subtotal of Non-current
Assets
7,482,734,663.00 7,638,408,371.67 155,673,708.67
Total Assets 36,595,034,080.75 36,740,101,891.44 145,067,810.69
Current Liabilities:
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
36
Short-term Loan 250,177,083.34 250,177,083.34
Notes Payable 3,258,552,758.17 3,258,552,758.17
Accounts Payable 6,444,787,705.28 6,444,787,705.28
Contract Liabilities 671,120,385.08 671,120,385.08
Payroll Payable 1,805,464,535.31 1,805,464,535.31
Tax Payable 900,144,863.67 900,144,863.67
Other Payables 970,552,877.22 970,552,877.22
Dividends
Payable
12,982,399.27 12,982,399.27
Non-current Liabilities
Due within 1 Year
151,891,709.34 210,863,157.61 58,971,448.27
Other Current
Liabilities
209,401,914.77 209,401,914.77
Subtotal of Current
Liabilities
14,662,093,832.18 14,721,065,280.45 58,971,448.27
Non-current Liabilities:
Long-term Loan 878,000,000.00 878,000,000.00
Lease Liabilities 86,096,362.42 86,096,362.42
Expected Liabilities 282,427,517.82 282,427,517.82
Deferred Income 110,469,806.29 110,469,806.29
Deferred Income Tax
Liabilities
67,272,768.46 67,272,768.46
Other Non-current
Liabilities
391,128,045.90 391,128,045.90
Subtotal of Non-current
Liabilities
1,729,298,138.47 1,815,394,500.89 86,096,362.42
Total Liabilities 16,391,391,970.65 16,536,459,781.34 145,067,810.69
Shareholders' Equity:
Share Capital 2,995,579,590.00 2,995,579,590.00
Capital Reserves 1,989,655,334.05 1,989,655,334.05
Less: Treasury Share 581,968,930.89 581,968,930.89
Other Comprehensive
Incomes
61,157,523.13 61,157,523.13
Surplus Reserves 1,553,691,005.92 1,553,691,005.92
Undistributed Profits 13,754,915,904.19 13,754,915,904.19
Total Shareholders' Equity 19,773,030,426.40 19,773,030,426.40
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
37
Attributable to the Parent
Company
Minority Shareholders'
Equity
430,611,683.70 430,611,683.70
Total Shareholders' Equity 20,203,642,110.10 20,203,642,110.10
Total Liabilities and
Shareholders' Equity
36,595,034,080.75 36,740,101,891.44 145,067,810.69
Balance Sheet of the Parent Company
Unit: RMB
Item December 31, 2020 January 1, 2021 Adjusted amount
Current Assets:
Cash and Bank
Balances
3,130,479,311.55 3,130,479,311.55
Notes Receivable 74,284,006.99 74,284,006.99
Accounts Receivable 2,740,152,239.35 2,740,152,239.35
Receivables
Financing
169,109,529.24 169,109,529.24
Prepayments 48,203,550.97 40,722,857.29 -7,480,693.68
Other Receivables 13,796,603,550.30 13,796,461,689.02 -141,861.28
Inventory 171,756,222.72 171,756,222.72
Contract Assets 8,338,657.15 8,338,657.15
Non-current Assets
Due within 1 Year
61,828,724.54 61,828,724.54
Other Current Assets 12,592.38 12,592.38
Subtotal of Current Assets 20,200,768,385.19 20,193,145,830.23 -7,622,554.96
Non-current Assets:
Long-term
Receivables
100,221,713.49 100,221,713.49
Long-term Equity
Investment
3,660,410,557.29 3,660,410,557.29
Other Non-current
Financial Assets
355,853,684.59 355,853,684.59
Investment Property 173,003,549.71 173,003,549.71
Fixed Assets 550,991,444.04 550,991,444.04
Projects under
Construction
438,014,907.22 438,014,907.22
Right-of-use Assets 82,586,983.09 82,586,983.09
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
38
Intangible Assets 156,335,152.97 156,335,152.97
Long-term Deferred
Expenses
21,149,342.55 21,149,342.55
Deferred Income Tax
Assets
135,371,242.86 135,371,242.86
Other Non-current
Assets
35,774,247.16 35,774,247.16
Subtotal of Non-current
Assets
5,627,125,841.88 5,709,712,824.97 82,586,983.09
Total Assets 25,827,894,227.07 25,902,858,655.20 74,964,428.13
Current Liabilities:
Short-term Loan 250,177,083.34 250,177,083.34
Notes Payable 303,660,579.62 303,660,579.62
Accounts Payable 752,373,890.95 752,373,890.95
Contract Liabilities 85,275,423.36 85,275,423.36
Payroll payable 1,127,500,408.14 1,127,500,408.14
Tax Payable 627,351,201.46 627,351,201.46
Other Payables 1,002,654,121.27 1,002,654,121.27
Dividends
Payable
12,982,399.27 12,982,399.27
Non-current Liabilities
Due within 1 Year
150,643,750.02 180,101,689.01 29,457,938.99
Other Current
Liabilities
26,870,130.42 26,870,130.42
Subtotal of Current
Liabilities
4,326,506,588.58 4,355,964,527.57 29,457,938.99
Non-current Liabilities:
Long-term Loan 750,000,000.00 750,000,000.00
Lease Liabilities 45,506,489.14 45,506,489.14
Expected Liabilities 8,333,634.18 8,333,634.18
Deferred Income Tax
Liabilities
29,407,289.24 29,407,289.24
Other Non-current
Liabilities
10,599,934.34 10,599,934.34
Subtotal of Non-current
Liabilities
798,340,857.76 843,847,346.90 45,506,489.14
Total Liabilities 5,124,847,446.34 5,199,811,874.47 74,964,428.13
2021 Q1 Report of Zhejiang Dahua Technology Co., Ltd.
39
Shareholders' Equity:
Share Capital 2,995,579,590.00 2,995,579,590.00
Capital Reserves 1,976,156,775.91 1,976,156,775.91
Less: Treasury Share 581,968,930.89 581,968,930.89
Other Comprehensive
Incomes
522,554.00 522,554.00
Surplus Reserves 1,553,691,005.92 1,553,691,005.92
Undistributed Profits 14,759,065,785.79 14,759,065,785.79
Total Shareholders' Equity 20,703,046,780.73 20,703,046,780.73
Total Liabilities and
Shareholders' Equity
25,827,894,227.07 25,902,858,655.20 74,964,428.13
2. Explanation of data comparison before and after the adjustment due to first implementation of
the new lease accounting standard from 2021
□ Applicable √ Not applicable
III. Audit Report
Has the Q1report been audited
□ Yes √ No
The report for the Q1 has not been audited.
