China International Marine Containers (Group) Co., Ltd.

Transcription

1 China International Marine Containers (Group) Co., Ltd. The Third Quarterly Report Important Notice 1.1 The Board of Directors, the Supervisory Committee and directors, supervisors and senior management staffs of China International Marine Containers (Group) Co., Ltd. (hereinafter referred to as the ) warrant that this report does not contain any false or misleading statements or omit any material facts and all information set forth herein are true, accurate and complete. The report was prepared with Chinese version and English version, in case that there are ambiguities in understanding, the Chinese version is prevailing. 1.2 No director, supervisor or senior management staffs stated that he (she) could not ensure the correctness, accuracy and completeness of the contents of the Quarterly Report or have objection for this report. 1.3 All directors attended the Board meeting. 1.4 The third quarterly financial report has not been audited. 1.5 Mr. Fu Yuning, Chairman of the Board of the, Mr. Mai Boliang, President of the, and Mr. Jin Jianlong, General Manager of Financial Management Dept. hereby confirm that the Financial Report enclosed in the Quarterly Report is true and complete. 2 Profile 2.1 Main accounting data and financial indicators Unit: RMB Yuan 30 Sep Sep Increase/decrease (+,-) Total assets 40,631,705,000 40,391,920, % Owner s equity (or shareholders equity) 14,340,400,000 15,913,757, % Net assets per share % 1 Jan. 30 Sep Increase/decrease year-on-year (%) Net cash flow arising from operating activities Net cash flow per share arising from operating activities -255,849, % % Jul-Sep Jan.-Sep Increase/decrease year-on-year (%) 1

2 Net profit 675,776,000 1,701,602, % Basic earnings per share % Basic earnings per share after deducting non-recurring gains and losses Diluted earnings per share % Return on equity 4.71% 11.87% 0.37% Return on equity after deducting non-recurring gains and losses 4.71% 11.78% 0.26% Items of non-recurring gains and losses Unit: RMB Yuan Items of non-recurring gains and losses 1 Jan. 30 Sep Subsidy income 22,096,000 Gains/losses from disposal of long-term equity investment and fixed assets 1,777,000 Other non-operating income 10,830,000 Non-operating expense -19,694,000 Impact on income tax -1,985,000 Gains and losses attributable to the minority shareholders -708,000 Total 12,316, Total number of shareholders at the end of the report period and statement on shares held by the top ten shareholders holding tradable shares Unit: Share Total number of shareholders 331,650 Particulars about shares held by the top ten shareholders holding shares not subject to trading moratorium Name of shareholders Number of shares not subject to trading moratorium held Category of share COSCO CONTAINER INDUSTRIES LIMITED 266,239,604 RMB ordinary shares Industrial & Commercial Bank of China-Nuo An Stock Securities Investment Fund 17,200,416 RMB ordinary shares Industrial & Commercial Bank of China-Rongtong Shenzhen Stock Exchange 100 Index Securities Investment Fund 8,648,312 RMB ordinary shares Guangzhou Steel & Iron Enterprises Group 4,507,002 RMB ordinary shares Bank of China-Harvest Shanghai-Shenzhen 300 Index Securities Investment Fund 4,501,950 RMB ordinary shares Bank of China-E-Fund Shenzhen Stock Exchange 100 Transactional ETF 4,021,367 RMB ordinary shares National Social Security Fund 006 Combination 2,543,562 RMB ordinary shares China Construction Bank-Boshi Yufu Securities Investment Fund 2,500,128 RMB ordinary shares 2

3 Agricultural Bank of China-Da Cheng Well-chosen Appreciation Hybrid Securities Investment Fund Industrial & Commercial Bank of China-Boshi Balance Hybrid Securities Investment Fund 2,390,000 RMB ordinary shares 2,298,265 RMB ordinary shares Name of shareholders Number of shares held Category of share China Merchants (CIMC) Investment Limited 432,171,844 Domestically listed foreign shares China Merchants (CIMC) Holdings Limited 173,643,136 Domestically listed foreign shares COSCO Container Industries Limited 148,320,037 Domestically listed foreign shares CMBLSA RE FTIF TEMPLETON ASIAN GRW FD GTI ,257,531 Domestically listed foreign shares China Merchants Securities (HK) Co., Limited 53,141,906 Domestically listed foreign shares LONG HONOUR INVESTMENTS LIMITED 25,322,106 Domestically listed foreign shares HTHK/CMG FSGUFP-CMG FIRST STATE CHINA GROWTH FD 24,250,634 Domestically listed foreign shares TOYO SECURITIES ASIA LIMITED-A/C CLIENT. 12,457,865 Domestically listed foreign shares TEMPLETON DRAGON FUND,INC. 11,778,895 Domestically listed foreign shares JPMBLSA RE FTIF TEMPLETON CHINA FUND GTI ,459,219 Domestically listed foreign shares Note 1: China Merchants (CIMC) Investment Limited holds 13,522,331 shares of the through agent account of China Merchants Securities (Hong Kong) Co., Ltd., therefore, the said company holds 445,694,175 shares of the in total. Note 2: China Merchants (CIMC) Holdings Limited holds 6,507,922 shares of the through agent account of China Merchants Securities (Hong Kong) Co., Ltd., therefore, the said company holds 180,151,058 shares of the in total. Note 3: Wholly-owned subsidiary of China Merchants Holdings(International) Limited ---BESTRAIN INVESTMENT LIMITED holds 31,176,350 shares of the through agent account of China Merchants Securities (Hong Kong) Co., Ltd.. Note 4: As at 30 September 2008, 165,932,239 shares not subject to trading moratorium are held by COSCO Container Industries Limited. 3 Significant Events 3.1 Significant changes in major accounting data, financial highlights and reasons for these changes Applicable Inapplicable Compared with the same period of last year, sale volume of containers from January to September 2008 still stood in the higher level, the volume of production and sales for vehicle business also realized growth. Due to rise in price of raw materials such as steels, there was notable increase in the average price of containers. From January to September 2008, operating income of the Group has increased by 17.50% over the same period of last year. In the first three quarters of this year, the Group accumulatively sold various containers totaling to 1,504,700 TEU, down by 6.89% year-on-year; as well as various road transportation vehicles amounting to 95,300, up 3

4 by 16.15% year-on-year. Especially in the second half of 2008, the financial crisis triggered by the problems in U.S. subprime mortgages had a further impact on the global economy, the possibility of a global recessions are increasing. Growth in manufacturing of China and foreign trade export has slowed down sharply. The Group did a good job on solutions, maintained a healthy financial situation. It is expected that in the fourth quarter, the demand for dry containers of the Group would access into the off-season; the demand of the road transport vehicle business, in domestic and international market would decline too. The business of the chemical energy tank equipment would keep in good condition. From January to September 2008, net profit attributable to owners of parent company dropped by 11.69% year-on-year, which was mainly because of income from change in fair value and decrease in investment income by a large margin. Non-current assets due within one year and long-term accounts receivable has increased by 92.02% and 86.56% respectively compared with the year-begin, which was mainly due to finance lease receivables in respect of vehicle business have increased by a big margin; Construction in progress has increased by 92.31% compared with the year-begin, which was mainly due to increased in investment for renovation in the fields of containers and vehicles; Short-term loan and long-term loan has increased by 58.85% and 64.79% respectively compared with the year-begin, which was mainly due to enlargement of production and operation scale; Tradable financial liabilities have increased by 31.53% compared with the year-begin, which was mainly because of change in fair value of derivate financial instrument; Interest payable has increased by 45.83% compared with the year-begin, which was mainly because of increase in loan; Dividend payable has increased by % compared with the year-begin, which was mainly because of increase in dividends that should be paid to minority shareholders; Tax payable has increased by 31.44% compared with the year-begin, which was mainly because of increase in VAT that should be paid back but did not pay back; Foreign exchange difference has increased by 63.80% compared with the year-begin, which was mainly because of the change in exchange rate and influence from foreign currency; Taxes and associate charges has increased by 65.98% year-on-year, which was mainly due to increase in business taxes paid for containers service industry; Administrative expense has increased by 34.74% year-on-year, which was mainly due to enlargement of operation scale and expanding consolidation scope; Impairment loss dropped by 75.31% year-on-year, which was mainly because of decreased in bad debts reserve withdrawn due to change in sale volume of containers; Income from change in fair value has decreased by 95.61% year-on-year, which was mainly because of stock investment, resulting in change of fair value; 4

5 Investment income has decreased by 89.59% year-on-year, which was mainly due to loss on stock investment; Non-operating income has increased by % year-on-year, which was mainly because of increase in government subsidies; Non-operating expense has increased by % year-on-year, which was mainly due to increase in net losses on disposal of fixed assets. 3.2 The progress of significant events and influence, as well as the analysis and explanation on resolving proposal Applicable Inapplicable 1. Sharp Vision Holdings Limited (hereinafter referred to as the buyer ), a wholly-owned subsidiary company of China International Marine Containers (Group) Co., Ltd. (hereinafter referred to as the, CIMC ) signed an Agreement with Leung Kee Holdings Limited and Bright Touch Investment Limited (hereinafter referred to as the sellers ) on March 12, 2008, in which Sharp Vision Holdings Limited would purchase 81,776,500 shares of Yantai Raffles Shipyard Limited (hereinafter referred to as Yantai Raffles ) held by the sellers, taking up 29.90% of shares issued outward by Yantai Raffles. For details related with the said transaction, please refer to Public Notice on Resolutions of the 2 nd Meeting of the 5 th Board of Directors for the Year 2008 of CIMC and Public Notice on Progress of Purchasing Equity of Yantai Raffles Shipyard Limited of CIMC disclosed on China Securities Journal, Shanghai Securities News, Securities Times and Hong Kong Ta Kung Pao dated 13 March 2008 with No. of announcement [CIMC] and [CIMC] After negotiation, both the buyer and the sellers jointly signed the Supplementary Agreement on 27 August 2008, in which price for purchasing equity was adjusted to USD 4.00 per share from original NOK 38 (about USD 6.92) per share, maximum of total price was USD million, which will be paid off in cash in lump sum. Up to now, the aforesaid transaction failed to complete. For detailed, please refer to Public Notice on Progress of Acquisition of Equity of Yantai Raffles Shipyard Limited disclosed on China Securities Journal, Shanghai Securities News, Securities Times and Hong Kong Ta Kung Pao dated 30 August 2008 with No. of announcement [CIMC] The planned to sell 80.04% and 19.96% shares of Sound Winner Holding Limited (hereinafter referred to as Sound Winner ) respectively held by wholly-owned subsidiary China International Marine Containers (Hong Kong) Co., Ltd (hereinafter referred to as CIMC HK ) and CIMC Vehicle Investment Holding Limited (hereinafter referred to as CIMC Vehicle ), whose 80% shares held by the to Enric Energy Equipment Holdings Limited (hereinafter referred to as Enric ) at a consideration of approximately HKD 5,025,888,917 and HKD 1,253,545,131 respectively, to subscribe 202,787,960 ordinary shares and 1,195,749,690 convertible preference shares; sell 80% shares of Full Medal Limited (hereinafter referred to as Full Medal ) held by CIMC HK and 20% shares of Full Medal held by the independent third party PGM Holding BV to Enric respectively at a 5

6 consideration of HKD 2,224,132,765 and HKD 556,033,190, to subscribe 195,664,241 ordinary shares and 423,526,395 convertible preference shares. After issuance of ordinary shares to CIMC HK and CIMC Vehicle, proportion of shares of Enric held by the increased to 54.27% (excluding convertible preference shares). Trading amount involving the aforesaid reorganization was HKD 8,503,566,811 (note: the trading amount was consideration totaled of 80.04% shares of Sound Winner held by CIMC HK, 19.96% shares of Sound Winner held by CIMC Vehicle and 80% shares of Full Medal held by CIMC HK). The held 41.55% shares of Enric at present, but the accredited more than half of directors and the has consolidated statement of Enric, therefore, Enric was controlling subsidiary with consolidated statement of the. Therefore, the transaction didn t involve related transaction between the and Enric according to Rules for Listing Shares in Shenzhen Stock Exchange (hereinafter referred to as Rules for Listing Shares ). The total sales amount exceeded 30% of audited net assets of last year, therefore, the transaction will submit to the Shareholders General Meeting of the for examination and approval in accordance with regulations of Articles of Association of CIMC. The aforesaid transaction and agreement need approval from the Shareholders General Meeting of Enric and Stock Exchange of Hong Kong. For details, please refer to Public Notice on Resolutions of the 12 th Meeting of the 5 th Board of Directors for 2008 of CIMC and Public Notice on Selling Assets to Enric Energy Equipment Holdings Limited and Subscriping Its shares disclosed on China Securities Journal, Shanghai Securities News, Securities Times and Hong Kong Ta Kung Pao dated 11 September 2008 with No. of announcement [CIMC] The fulfillment of the commitment made by the, shareholders and the actual controller Applicable Inapplicable COSCO Container Industries Limited, shareholder of the, made commitments as follows in the processing of share merger reform: (1) No trading and transfer may be taken within 12 months as of the date when the share merger reform was implemented, and original non-tradable shares could not be sold through listing and trading on Shenzhen Stock Exchange according to relevant regulations, (2) After expiration of the above commitment, in line with relevant provisions, original non-tradable shares could be sold through listing and trading on Shenzhen Stock Exchange, but proportion of number of shares in total shares of the shall not exceed 5 percent within 12 months, as well as not exceed 10 percent within 24 months. Fulfillment: COSCO Container Industries Limited strictly fulfilled the relevant commitment in scheme of share merger reform. 6

7 3.4 Warnings of possible loss or large-margin change of the accumulated net profit made during the period from the beginning of the year to the end of the next report period compared with the same period of the last year according to prediction, as well as explanations on the reasons Applicable Inapplicable 3.5 Other significant events In accordance with relevant requirements of CSRC and Shenzhen Securities Regulatory Bureau, the disclosed the Report on Explanation about Rectification Matters Listed in Report on Corporate Governance Rectification of CIMC on 23 July (Please refer to for details) Securities investment Applicable Inapplicable Unit: RMB Yuan Sequence No. Type of securities Securities code Short form of securities Initial investment amount (Yuan) Holding number Book value in period-end Proportion of total securities in period-end (%) Gains/losses in the report period 1 H-share Sinotrans Shipping Ltd. 21,827, ,996, ,340, % -15,487, S-share G05.SI Goodpack 109,552, ,500, ,294, % -18,258, Other securities investments held in period-end % 0.00 Securities investment gain/loss sold out in the period ,635, Total 131,379, ,634, % -214,380, Equity of other listed companies the held Applicable Inapplicable Unit: RMBYuan Short form of stock Stock code Initial investment amount Equity proportion in that of this company Book value at the period-end Profit and loss in the report period Change in the owners equity in the report period China Merchants Bank Bank of Communication ,973, % 2,415,876, ,410,860, ,250, % 104,650, ,800, Total 378,223, ,520,526, ,469,660, Interviews, communications and visits in the reporting period Date Venue Manner Visitors Topics discussed and 7

8 information provided 2 Jul Merrill Lynch 17 Jul CITIC Securities 25 Jul Tidemann Global Emerging Markets 2 Sep Absolute Asia 3 Sep Sweden HQ Bank HQ Fonder 5 Sep CVI 9 Sep Platinum Asset Management 19 Sep Gartmore Investment Management 19 Sep Macquaire Capital Securities China International Marine Containers (Group) Co., Ltd. 28 Oct

9 4 Appendix 4.1 Balance Sheet Prepared by China International Marine Containers (Group) Co., Ltd. 30 Sep Unit: RMB Yuan Items Ending balance Beginning balance Consolidation Parent Consolidation Parent Current Assets: Monetary funds 2,923,034, ,473, ,054,432, ,131, Transaction financial asset 848,830, ,340, ,335, Notes receivable 631,030, ,747, Account receivable 7,860,706, ,899,769, Account paid in advance 2,059,308, ,693,935, Interest receivable 4,709, ,997, Dividend receivable 1,991, ,701,269, ,125, ,720,452, Other account receivable 1,032,002, ,400,375, ,147,246, ,258,492, Inventories 9,353,903, ,715,381, Non-current assets due within 1 year 182,626, ,109, Other current assets 61,970, ,713, Total current assets 24,960,109, ,274,117, ,366,794, ,084,410, Non-current assets: Available for sale financial assets 2,520,166, ,520,166, ,153,636, ,153,636, Held-to-maturity investments Long-term account receivable 370,580, ,643, Long-term equity investment 1,084,347, ,450,456, ,822, ,321,766, Investing property 48,411, ,031, Fixed asset 6,529,023, ,637, ,341,530, ,515, Construction in progress 1,333,657, ,517, ,507, ,294, Project materials Disposal of fixed assets Intangible assets 2,331,490, ,279, ,360,367, ,108, Development expense Goodwill 1,006,162, ,949, Long-term expense to be 58,975, ,869, ,890, ,421,

10 apportioned Deferred tax assets 388,785, ,440, ,751, ,371, Other non-current assets Total of non-current assets 15,671,596, ,253,364, ,025,126, ,722,111, Total assets 40,631,705, ,527,481, ,391,920, ,806,521, Current liabilities: Short-term borrowings 4,283,447, ,696,559, Transaction financial liabilities 445,060, ,299, ,379, ,499, Notes payable 2,674,851, ,524,909, Account payable 6,441,112, ,979,610, Account received in advance 834,039, ,887, ,379, ,887, Employee s compensation payable 848,169, ,899, ,688, ,412, Tax payable -479,424, ,910, ,743, ,829, Interest payable 135,390, ,779, ,842, ,136, Other account payable 746,618, ,366, ,395,651, ,806, Dividend payable 42,839, ,285, Non-current liabilities due within 1 year 1,368,100, ,266,100, Other current liabilities 598,164, ,327, Total current liabilities 16,570,265, ,140, ,134,986, ,821,669, Non-current liabilities: Long-term borrowings 7,353,609, ,199,823, ,462,309, ,177,637, Bonds payable Deferred income 19,113, ,716, ,587, ,295, Long-term payables Specific payables 6,866, ,327, Accrued liabilities Deferred tax liabilities 810,218, ,461, ,233,410, ,018, Other non-current liabilities Total non-current liabilities 8,189,806, ,633,000, ,714,633, ,929,950, Total liabilities 24,760,071, ,239,140, ,849,619, ,751,619, Owner s equity (or Shareholders equity): 10

11 Paid-up capital (or Share capital) 2,662,396, ,662,396, ,662,396, ,662,396, Capital reserves 2,550,039, ,389,164, ,553,473, ,376,580, Less: treasury stock Surplus reserves 3,577,588, ,577,588, ,497,045, ,497,045, Retained profits 7,964,617, ,872, ,674,757, ,493,044, Foreign exchange difference -2,414,240, ,444,679, ,473,914, ,163, Total owners' equity attributable to parent company 14,340,400, ,288,341, ,913,757, ,054,902, Minority interest 1,531,234, ,628,544, Total owner s equity 15,871,634, ,288,341, ,542,301, ,054,902, Total liabilities and owner s equity 40,631,705, ,527,481, ,391,920, ,806,521, Income Statement as of report period Prepared by China International Marine Containers (Group) Co., Ltd. Jul-Sep Unit: RMB Yuan Items Current period Same period of the previous year Consolidation Parent company Consolidation Parent company I. Total sales 12,949,755, , ,310,973, , Including: Sales 12,949,755, , ,310,973, , II. Total cost of sales 12,411,293, ,981, ,987,205, ,214, Including: Cost of sales 11,536,611, , ,241,974, , Interests expenditure Taxes and associate charges 4,130, ,371, Selling and distribution expenses 275,178, ,330, Administrative expenses 511,545, ,266, ,879, ,723, Financial expense 104,485, ,287, ,715, ,511, Impairment loss -20,656, ,064, Add: gain/(loss) from change in fair value ( - means loss) Investment income ( - means loss) Including: income form investment on affiliated enterprise 227,379, ,956, ,885, ,044, ,656, ,147, ,098, ,751, ,195, ,596,

12 and jointly enterprise Foreign exchange difference ( - means loss) III. Business profit ( - means loss) 733,185, ,152, ,751, ,611, Plus: non-operation income 6,983, ,146, ,207, , Less: non- operation expense 4,235, ,636, , , Including: loss from non-current asset disposal -7,799, , ,077, IV. Total profit ( - means loss) 735,933, ,662, ,385, ,685, Less: Tax expense 24,646, ,672, ,580, ,015, V. Net profit ( - means loss) 711,287, ,990, ,805, ,670, Attributable to parent company 675,776, ,882, Minority interest 35,511, ,922, VI. Earnings per share (I) basic earnings per share (II) diluted earnings per share Income Statement from Jan. to Sep Prepared by China International Marine Containers (Group) Co., Ltd. Jan.-Sep Unit: RMB Yuan Items Current period Same period of the previous year Consolidation Parent company Consolidation Parent company I. Total sales 43,120,591, , ,699,107, , Including: Sales 43,120,591, , ,699,107, , Interests income II. Total cost of sales 41,256,127, ,222, ,388,568, ,998, Including: Cost of sales 38,600,087, , ,991,673, , Interests expenditure Taxes and associate charges 12,769, ,693, Selling and distribution expenses 847,450, ,821, Administrative expenses 1,462,826, ,684, ,085,705, ,841, Financial expense 322,187, ,467, ,895, ,848, Impairment loss 10,808, ,781,

13 Add: gain/(loss) from change in fair value ( - means loss) Investment income ( - means loss) Including: income form investment on affiliated enterprise and jointly enterprise 16,850, ,673, ,440, ,606, ,345, ,138, ,084, ,860, ,770, ,246, Foreign exchange difference ( - means loss) III. Business profit ( - means loss) 1,927,659, ,332, ,139,063, ,547, Plus: non-operation income 34,704, ,279, ,799, , Less: non- operation expense 19,694, ,899, ,011, , Including: loss from non-current asset disposal -1,751, , , , IV. Total profit ( - means loss) 1,942,669, ,712, ,144,851, ,417, Less: Tax expense 130,729, ,813, ,918, ,015, V. Net profit ( - means loss) 1,811,940, ,525, ,991,933, ,402, Attributable to parent company 1,701,602, ,926,948, Minority interest 110,338, ,985, VI. Earnings per share (I) basic earnings per share (II) diluted earnings per share Cash Flow Statement from Jan. to Sep Prepared by China International Marine Containers (Group) Co., Ltd. Jan.-Sep Unit: RMB Yuan Items Current period Same period of the previous year Consolidation Parent company Consolidation Parent company Ⅰ.Cash flows from operating activities: Cash received from sale of commodities and rendering of service 41,846,130, , ,471,936, , Tax refunds received 2,428,243, ,739,002, Other cash received relating to operating activities 513,091, ,008,740, ,790, ,081,744,

14 Subtotal of cash inflows from operating activities Cash paid for purchase of commodities and reception of service 44,787,464, ,008,829, ,631,728, ,081,823, ,611,831, ,507,149, Cash paid to and for employees 1,962,753, ,320, ,643,863, ,350, Various taxes paid 828,945, ,546, ,521, , Payment of cash relating to other operating activities Subtotal of cash outflows from operating activities Net cash flows from operating activities 1,639,784, ,999,431, ,146,408, ,559,508, ,043,313, ,142,297, ,811,941, ,605,005, ,849, ,133,468, ,213, ,182, Ⅱ. Cash flows from investment activities: Cash received from disposal of investments 212,662, ,643, ,550, ,438, Investment income 90,247, ,731, ,924, ,617, Net cash received from disposal of fixed assets, intangible assets and other long-term assets Net cash received from disposal of subsidiary or other operating business units Other cash received relating to investment activities Subtotal of cash inflows from investment activities Cash paid to acquire fixed assets, intangible assets and other long-term assets 7,867, ,752, , ,000, ,452, ,311, ,087, ,374, ,226, ,682, ,548,079, ,105, ,255,446, ,075, Cash paid for investment 463,984, ,990, ,740,476, ,590, Net cash paid by subsidiaries and other operating units 1,012,062, Payment of cash relating other investment activities to 10,939, ,667, Subtotal of cash outflows from investment activities 2,023,002, ,095, ,156,651, ,665,

15 Net cash flows from investment activities -1,555,915, ,721, ,067,425, ,983, Ⅲ.Cash flows from financing activities Cash received from capital contribution 17,500, ,375, Cash received from borrowings 18,344,853, ,634,219, ,672,261, ,878,735, Other cash received relating to financing activities Subtotal of cash inflows from financing activities Cash repayments of amounts borrowed Cash paid interest expenses and distribution of dividends or profit 18,362,353, ,634,219, ,773,636, ,878,735, ,161,294, ,657,971, ,457,663, ,949, ,740,881, ,513,005, ,140,597, ,495, Payment of cash relating to other financing activities Subtotal of cash outflows from financing activities Net cash flows from financing activities Ⅳ. Effect of foreign exchanges on cash and cash equivalents Ⅴ. Net increase of cash and cash equivalents Plus: beginning balance of cash and cash equivalents Ⅵ.Closing balance of cash and cash equivalents 16,902,175, ,170,976, ,598,260, ,965,444, ,460,178, ,243, ,175,376, ,291, ,188, ,712, ,449, ,863, ,398, ,658, ,711, ,737, ,017,802, ,131, ,016,876, ,493, ,886,404, ,473, ,913,165, ,756, Auditor s report Auditor s opinion: un-audited 15