Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
CHINA VANKE CO., LTD.*
萬科企業股份有限公司
(A joint stock company incorporated in the People's Republic of China with limited liability)
(Stock Code: 2202)
2021 FIRST QUARTERLY REPORT
The board of directors (the "Board") of China Vanke Co., Ltd.* (the "Company" or "Vanke") hereby announces the unaudited quarterly report (the "Quarterly Report" or the "Report") of the Company and its subsidiaries (collectively, the "Group") for the three months ended 31 March 2021, which has been prepared in accordance with International Financial Reporting Standards ("IFRSs"). This announcement is made pursuant to the inside information provisions set out in Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and the requirements under Rule 13.09 and Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
§1 IMPORTANT NOTICE
- The Board, the supervisory committee and the directors (the "Director(s)"), supervisors and senior management of the Company guarantee the truthfulness, accuracy and completeness of the contents of the Report, and that there is no false representation, misleading statement or material omission in the Report, and accept full legal responsibilities for the Report jointly and severally.
- The Quarterly Report was approved at the seventh meeting of the nineteenth session of the Board (the "Meeting") of the Company. All Directors attended the Meeting in person.
- Mr. YU Liang, the Chairman of the Board and Ms. HAN Huihua, an Executive Vice President and Finance Principal of the Company declare that the financial statements contained in the Quarterly Report are warranted to be true, accurate and complete.
1
- The financial and accounting statements contained in the Quarterly Report have been prepared in accordance with the IFRSs and have not been audited.
- Unless otherwise indicated, Renminbi is the reporting currency in the Quarterly Report. The "Reporting Period" refers to 1 January to 31 March of 2021.
- This Report includes forward-looking statements of future plans and development strategy, which does not constitute the Group's actual undertakings to investors. Investors are advised to keep sufficient risk awareness in this regard, understand the difference among plans, predictions and commitments and exercise caution towards investment risks.
§2 BASIC CORPORATE INFORMATION
2.1 Major accounting data and financial indicators
Unit: RMB'000 | |||
As at | As at | ||
31 March | 31 December | ||
2021 | 2020 | Change | |
Total assets | 1,907,923,983 | 1,869,240,971 | 2.07% |
Total equity attributable to equity | 225,707,669 | 224,510,953 | 0.53% |
shareholders of the Company | |||
Share capital | 11,617,732 | 11,617,732 | - |
Jan. - Mar. | Jan. - Mar. | ||
2021 | 2020 | YOY change | |
Revenue | 62,264,096 | 47,774,343 | 30.33% |
Profit for the period attributable to | |||
equity shareholders of the Company | 1,292,286 | 1,249,359 | 3.44% |
Net cash generated from/(used in) | 16,879,435 | (2,953,862) | 671.44% |
operating activities | |||
Basic earnings per share (RMB) | 0.1112 | 0.1105 | 0.63% |
Diluted earnings per share (RMB) | 0.1112 | 0.1105 | 0.63% |
Weighted average return | 0.57% | 0.66% | decrease by 0.09 |
on equity | percentage point |
Note: The equity and earning/return used in the above calculation refer to the net equity attributable to equity shareholders of the Company and the profit for the period attributable to equity shareholders of the Company respectively.
2
2.2 Total number of shareholders and shareholdings of the top 10 holders of non-restricted shares as at the end of the Reporting Period
Unit: Share | ||||||||
Total number of ordinary | 394,010 (including | Total number of preference | 0 | |||||
shareholders as at the end of | 393,960 holders of | shareholders with restored | ||||||
the Reporting Period | A shares and 50 holders | voting rights at the end of | ||||||
of H shares) | the Reporting Period (if | |||||||
any) | ||||||||
Shareholdings of the top 10 shareholders | ||||||||
Number of | Pledged or lock-up | |||||||
Classification of | Percentage of | Total number | restricted | Share | Number of | |||
Name of shareholder | shareholder | shareholdings | of shares held | shares held | status | shares | ||
Shenzhen Metro Group Co., Ltd. | Domestic state- | 27.91% | 3,242,810,791 | 0 | - | 0 | ||
("SZMC") | owned legal person | |||||||
HKSCC NOMINEES LIMITED | Foreign shareholder | 16.30% | 1,893,463,029 | 0 | - | 0 | ||
Hong Kong Securities Clearing Company | Foreign shareholder | 5.27% | 612,654,418 | 0 | - | 0 | ||
Limited | ||||||||
Guosen Securities - Industrial and | Others | 3.93% | 456,993,190 | 0 | - | 0 | ||
Commercial Bank of China - Guosen | ||||||||
Jinpeng No.1 Classified Collective | ||||||||
Asset Management Plan | ||||||||
Central Huijin Asset Management Co., | Domestic state- | 1.63% | 189,566,000 | 0 | - | 0 | ||
Ltd. | owned legal person | |||||||
CMS Wealth - CMB - De Ying No. 1 | Others | 1.26% | 146,255,820 | 0 | - | 0 | ||
Specialised Asset Management Plan | ||||||||
China Securities Finance Corporation | Domestic state- | 1.14% | 132,669,394 | 0 | - | 0 | ||
Limited | owned legal person | |||||||
CLIC - Dividend - Personal Dividend | Others | 0.69% | 79,708,170 | 0 | - | 0 | ||
-005L-FH002 SZ | ||||||||
CLIC - Traditional - Ordinary Insurance | Others | 0.59% | 68,861,468 | 0 | - | 0 | ||
Product -005L-CT001 SZ | ||||||||
Industrial Bank Company Limited - | Others | 0.59% | 68,154,474 | 0 | - | 0 | ||
Xingquan Trend Investment Mixed | ||||||||
Securities Investment Fund |
3
Shareholdings of the top 10 holders of non-restricted shares
Number of | ||
non-restricted | ||
Name of shareholder | shares held | Class of shares |
SZMC | 3,242,810,791 | RMB denominated |
ordinary shares ("A Shares") | ||
HKSCC NOMINEES LIMITED | 1,893,463,029 | Overseas-listed |
foreign shares ("H Shares") | ||
Hong Kong Securities Clearing Company Limited | 612,654,418 | A Shares |
Guosen Securities - Industrial and Commercial Bank of | 456,993,190 | A Shares |
China - Guosen Jinpeng No.1 Classified Collective | ||
Asset Management Plan | ||
Central Huijin Asset Management Co., Ltd. | 189,566,000 | A Shares |
CMS Wealth - CMB - De Ying No. 1 Specialised Asset | 146,255,820 | A Shares |
Management Plan | ||
China Securities Finance Corporation Limited | 132,669,394 | A Shares |
CLIC - Dividend - Personal Dividend -005L-FH002 SZ | 79,708,170 | A Shares |
CLIC - Traditional - Ordinary Insurance Product | 68,861,468 | A Shares |
-005L-CT001 SZ | ||
Industrial Bank Company Limited - Xingquan Trend | 68,154,474 | A Shares |
Investment Mixed Securities Investment Fund |
Remarks on the connected relationship or action in concert of the aforementioned shareholders
The "CLIC - Dividend - Personal Dividend-005L-FH002 SZ" and the "CLIC - Traditional - Ordinary Insurance Product
- 005L-CT001SZ" both belongs to the insurance products managed by the China Life Insurance Company Limited. Save from that, it is not known to the Company as to whether there are connections or persons deemed to be acting in concert under the Measures for the Administration of the Takeover of Listed Companies among the abovementioned shareholders.
Top 10 ordinary shareholders | Nil |
involved in margin trading | |
business (if any) | |
Statements on the transaction | Nil |
of shares under agreements to | |
repurchase of the top 10 holders | |
of ordinary shares and top 10 | |
holders of non-restricted ordinary | |
shares during the Reporting | |
Period (if any) |
4
Notes:
- HKSCC NOMINEES LIMITED is the nominee holder of non-registered shareholders of the H shares of the Company;
- Hong Kong Securities Clearing Company Ltd. is the nominee holder of A shares of the Company held by non- registered shareholders through the Shenzhen-Hong Kong Stock Connect;
- "The 393,960 holders of A shares" in the above table refers to the number of A shareholders combining the securities margin trading credit accounts.
As of 31 March 2021, the total number of shares of the Company was 11,617,732,201, including 9,724,196,533 A shares and 1,893,535,668 H shares.
2.3 Number of preferred shareholders and shareholdings of top 10 preferred shareholders
Applicable | ✓ Not Applicable |
§3 OPERATIONS DISCUSSION AND ANALYSIS
1. Property market in the first quarter
Affected by the epidemic during the first quarter of 2020, both the sales and development investment of real estate industry in China experienced a decline. Compared with the lower base figure in the same period last year, the abovementioned indicators in China increased significantly in the first quarter of this year. The data from the National Bureau of Statistics showed that in the first quarter, the area of commodity housing sold in China increased by 63.8% year-on-year, and the property development investment in China increased by 25.6% year-on-year, while the floor area of new construction of housing increased by 28.2% year-on-year.
The scale of transactions of the land market recorded growth. According to the statistics of China Index Academy, in the first quarter, in 300 cities in China, the floor area of land supplied for residential use remained constant year-on-year, and the planned gross floor area ("GFA") transacted increased by 10% year-on-year. The average residential land premium rate of the abovementioned 300 cities was 17.8%, representing a year-on-year increase of 5.1 percentage points.
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2. Business development of the Group during the Reporting Period
- Key financial guidance
During the Reporting Period, the revenue of the Group amounted to RMB62.26 billion, representing a year-on-year increase of 30.3%; the net profit attributable to equity shareholders of the Company amounted to RMB1.29 billion, representing a year-on-year increase of 3.4%. The booked area of the property development business amounted to 3.747 million square meters, with a revenue of RMB53.0 billion, representing year-on-year increases of 18.5% and 34.6% respectively.
In the first quarter, the gross profit margin (excluding taxes and surcharges) of the Group's property development and related asset operation business was 16.1%. The decline in gross profit margin was mainly due to the increase in the ratio of land premiums to housing prices in recent years.
The Group maintained sound financial and capital positions. As at the end of the Reporting Period, the Group's net gearing ratio was 15.5% and the monetary fund (including pledged and restricted deposits) of the Group amounted to RMB196.6 billion, which was much higher than the interest-bearing liabilities of RMB72.37 billion due within one year. The net gearing ratio and cash to short-term debt ratio of the Group are remarkable better than the requirements of fund monitoring and financing management rules for key real estate enterprises, and the asset-liability ratio excluding advance accounts collection is also reduced to 69.5%, which meet the standards of "green threshold" enterprise.
- Major operations
During the Reporting Period, the Group's property development business achieved a contracted sales area and contracted sales amount of 11.044 million square meters and RMB179.47 billion, representing increases of 24.8% and 30.2% year-on-year, respectively.
Sales by Geographical Region | |||||||||
Region | Sales area | Proportion | Sales amount | Proportion | |||||
('000 square | (RMB hundred | ||||||||
meters) | million) | ||||||||
Southern Region | 1,558.8 | 14.11% | 371.43 | 20.70% | |||||
Shanghai Region | 3,298.1 | 29.87% | 673.79 | 37.54% | |||||
Northern Region | 3,144.2 | 28.47% | 378.06 | 21.07% | |||||
Central and Western Region | 2,171.2 | 19.66% | 274.05 | 15.27% | |||||
Northwestern Region | 857.3 | 7.76% | 81.36 | 4.53% | |||||
Other | 14.5 | 0.13% | 16.03 | 0.89% | |||||
Total | 11,044.1 | 100.00% | 1,794.72 | 100.00% | |||||
6
As at the end of the first quarter, the floor area sold but yet completed for recognition in the Group's consolidated financial statements amounted to 53.520 million square meters, the contracted amount was RMB762.38 billion, representing increases of 8.8% and 9.2% as compared with the end of 2020, respectively.
The Group adhered to prudent investment strategies and explored project investment opportunities under the premise of a good balance between safety and development, and matching risks and benefits. In the first quarter, the Group acquired 32 new development projects, with a planned GFA of 4.806 million square meters and a planned GFA attributable to the Company's equity holding of 3.406 million square meters.
As of the end of the Reporting Period, the Group's total GFA under construction was approximately 113.019 million square meters, and its GFA attributable to the Company's equity holding was approximately 66.993 million square meters. The total GFA of the projects under planning was approximately 47.340 million square meters, and its GFA attributable to the Company's equity holding was approximately 29.781 million square meters. In addition, the Group also engaged in certain urban renewal projects. According to the current planning conditions, its total GFA attributable to the Company's equity holding was approximately 3.398 million square meters.
The floor area of new construction of the Group in the first quarter amounted to 8.047 million square meters, representing an increase of 13.5% year-on-year and accounting for 25.6% of the floor area of new construction planned for the whole year (corresponding period of 2020: 24.3%); completed floor area was 3.099 million square meters, representing an increase of 27.7% year-on-year and accounting for 8.6% of the planned floor area to be completed for the whole year (corresponding period of 2020: 7.3%).
Based on its strategic positioning of being a "city and town developer and service provider", the Group adhere to its strategy of "co-development with cities and co-development with customers", and undertake property development and related asset operation business, property services and other businesses towards scenes of the better life of people.
During the Reporting Period, in view of property services, Onewo commenced a strategic cooperation with China Merchants Bank to provide community customers with high-quality user account exclusive services through connection of Onewo "Stardust System" to account services of the bank and establishment of the "Onewo Wallet" in the community app "Live Here". The rental housing business insisted advancing "good products, good services" and operating efficiency improvement, and the occupancy rate of accumulated days for rooms on rent to accumulated days for rooms unveiled in the first quarter stabilized at above 95%. In view of logistic and warehousing service business. VX Logistic Properties, jointly with Wal-Mart, commenced an end-to-end supply chain business for direct procurement at the origin. Also, VX Logistics Properties actively supported the emergency storage task of the COVID-19 vaccine. It only took 68 days to transform the Beijing Yizhuang project into a vaccine extension cold storage, which was recognized by the partner. In view of retail property development and operations business, SCPG continued to adhere to the concept of "activating commercial property assets and advancing asset securitization innovation", and successfully completed issuance of the Yinxiang No. 3 asset-backed special plan.
7
§4 SIGNIFICANT EVENTS
4.1 Significant changes and reasons for such changes in major items of the accounting statements and financial indicators
Unit: RMB'000 | ||||
Jan.-Mar. | Jan.-Mar. | Change | ||
Item | 2021 | 2020 | (+/-) | Remarks |
Revenue | 62,264,096 | 47,774,343 | 30.33% | Increase in the scale of |
booked revenue | ||||
Cost of sales | (49,565,820) | (32,837,727) | 50.94% | Increase in the booked |
cost of sales for | ||||
completed projects | ||||
Other net income | 1,598,445 | 985,453 | 62.20% | Decrease in exchange |
losses | ||||
Selling and marketing | (1,881,782) | (1,241,138) | 51.62% | Expansion in sales scale |
expenses | ||||
Share of profits less losses | 207,045 | (212,547) | 197.41% | Increase in investment |
of associates and joint | income recognized by | |||
ventures | the equity method | |||
Income tax | (3,793,089) | (6,002,146) | -36.80% | Decrease in taxable |
profits |
4.2 Update on significant events and analysis of their effects and solutions
Applicable | ✓ Not Applicable |
4.3 Overdue undertakings of the Company's de facto controller, shareholders, connected parties, purchasers and the Company during the Reporting Period
Applicable | ✓ Not Applicable |
The Company has no de facto controller. There were no overdue undertakings of the Company's shareholders, connected parties, purchasers and the Company.
8
4.4 Estimates on the operating results of January to June of 2021
Warnings on any potential loss in accumulated net profits from the beginning of the year to the end of the next reporting period or any material change as compared with that in the same period of last year and the reasons
Applicable | ✓ Not Applicable |
4.5 Investment of securities
Applicable | ✓ Not Applicable |
4.6 Investment in Derivatives
Remarks on risk analysis and management of derivative positions during the Reporting Period (including but not limited to market risk, liquidity risk, credit risk, operational risk and legal risk, etc.)
As of the end of the Reporting Period, the Group's derivative financial instruments mainly included Cross Currency Swap (CCS). The risks faced by CCS are related to exchange rate market risks and the certainty of the Group's future foreign currency debt cash flows. The Group's control measures on derivative financial instruments are mainly reflected in: For derivatives trading, the Group strictly regulates the authorization and business operation procedures, carefully selects and determines the types and quantities of new derivative financial instruments, and strictly controls the credits level of the Group and related entities.
With regards to the change in market price or fair value of the derivatives invested during the Reporting Period, specific method, related assumptions and parameters for analysis of the fair value of derivatives should be disclosed
No derivatives expired and CCS contributed a potential profit of RMB524.5 thousand for the Company during this Reporting Period. The fair value of CCS at the end of the Reporting Period was determined by reference to the market quotation of external financial institutions.
Remarks on whether there has been a material change in the accounting policy and accounting measurement principles for the Company's derivatives during the Reporting Period as compared with those of the previous reporting period
NIL.
9
Specialized opinion of the independent non-executive Directors on derivative investment and risk control of the Company
The independent non-executive Directors of the Company are of the view that the Company standardizes derivatives investment, follows the principle of prudence and mitigates possible losses associated with foreign currency loans in the event of significant change in exchange rates or interest rates via CCS, in accordance with the actual situation of business operations and the relevant regulations of the regulatory authorities. The relevant arrangements of the Company had been prudent and reasonable.
Derivative positions as at the end of the Reporting Period
Unit: RMB'000 | ||||
Contract amount as | ||||
a percentage of the | ||||
Contract amount as at | Contract amount | Company's net assets | ||
the beginning of the | as at the end of the | Profit or loss during | as at the end of the | |
Type of contracts | Reporting Period | Reporting Period | the Reporting Period | Reporting Period |
Cross Currency Swap | 15,027,970.8 | 15,171,021.7 | 524.5 | 4.27% |
(CCS) | ||||
Note: During the reporting period, despite there were no changes in CCS, the contract amount converted into RMB at the end of March 2021 was slightly different from that at the beginning of the year due to changes in exchange rate.
4.7 Meetings with researchers, communications activities and visits during the Reporting Period
The 2020 annual results presentation of the Company was broadcasted live only over the Internet, the "Announcement Regarding Video Webcast of 2020 Annual Results Presentation and Questions Collection" was published in advance on CNINFO Network, inviting investors to actively participate and collect relevant questions. The questions collected covered a number of aspects including industry policies, corporate strategies, development of the business, the development of the Onewo and other operational businesses, the development of technology-enabled businesses, and dividend policies. Among them, the situation of the business, technology and dividends were answered by Company Secretary, Ms. Zhu Xu, in the annual results presentation, and the remaining questions were also covered in the Q&A session. As of March 31, the total number of views of the annual results presentation was approximately 115,000.
10
In addition, during the reporting period, the Company received surveys by institutional investors such as securities companies and funds, and individual investors via phone conference, exchanged views on the Company's daily operations, development strategies and views on changes in industry.
Type of meeting | Time | Approach | Type of investors |
J.P. Morgan meeting | 2021.1 | Telephone | Investors including securities companies, funds, |
conference | individual investors, etc. | ||
Morgan Stanley meeting | 2021.1 | Telephone | Investors including securities companies, funds, |
conference | individual investors, etc. | ||
Sinolink Securities meeting | 2021.1 | On-site meeting | Investors including securities companies, funds, |
individual investors, etc. | |||
2020 Annual Results Presentation | 2021.3 | Video roadshow | Investors including securities companies, funds, |
individuals and etc. | |||
Note: The above-mentioned meetings included one-on-one meetings, small group meetings and large group presentation. The Company received or met with investors from over 50 companies.
Securities companies | During the | Small Group | Oriental Securities, Ping An Securities, Zhongtai |
Reporting Period | or one-on- | International, CITIC Securities, Haitong Securities, | |
one phone | Industrial Securities, China Merchant Securities, Huatai | ||
conference | Securities, East Asia Qianhai Securities, Tianfeng | ||
Securities, Yangtze River Securities, Morgan Stanley, | |||
HSBC etc | |||
Funds and other investment companies and | During the | Small Group | China Life, Yong an Guofu Asset Management, Huashang |
individual investors | Reporting Period | or one- on- | Fund, ICBC Credit Suisse, Zhongou Fund, Greenwoods |
one phone | Assets, Fullgoal Fund, Bao Ying Fund, Harmony Hui- | ||
conference | asset management, ABC-CA Fund, Changxin Fund, Orient | ||
Securities Asset Management, Fidelity, Invesco, Ares | |||
SSG, Capital Group, Lazard etc. | |||
4.8 Entrusted financial management
Unit: RMB'000 | ||||
Source of funds for | Amounts for | The amount due but | ||
Specific type | entrusted wealth | entrusted wealth | Outstanding balance | |
management | management | not receive | ||
Wealth management | Self-owned capital | 17,900,000.0 | 136,831.4 | - |
products of banks | ||||
11
-
Illegal external guarantees
The Group had no illegal external guarantees during the Reporting Period. - Non-operatingcapital of the Group attributable to the controlling shareholders and their related parties
The Company has no controlling shareholder. During the Reporting Period, the Group had no capital which was non-operating attributed to the largest shareholder and its related parties.
§5 APPENDIX - FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH THE IFRSS
The financial statements prepared in accordance with the IFRSs are set out in Appendix I to this announcement.
By order of the Board
China Vanke Co., Ltd.*
YU Liang
Chairman of the Board
Shenzhen, the PRC, 22 April 2021
As at the date of this announcement, the Board comprises Mr. YU Liang, Mr. ZHU Jiusheng and Mr. WANG Haiwu as executive directors; Mr. XIN Jie, Mr. HU Guobin and Mr. Ll Qiangqiang as non- executive directors; and Mr. KANG Dian, Ms. LIU Shuwei, Mr. NG Kar Ling, Johnny and Mr. ZHANG Yichen as independent non-executive directors.
- For identification purpose only
12
APPENDIX I
The unaudited consolidated results of the Group for the three months ended 31 March 2021 and the comparative figures for the corresponding period in 2020 are as follows:
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS
FOR THE THREE MONTHS ENDED 31 MARCH 2021
Three months ended | ||||
31 March | ||||
2021 | 2020 | |||
RMB'000 | RMB'000 | |||
(Unaudited) | (Unaudited) | |||
Revenue | 62,264,096 | 47,774,343 | ||
Cost of sales | (49,565,820) | (32,837,727) | ||
Gross profit | 12,698,276 | 14,936,616 | ||
Other net income | 1,598,445 | 985,453 | ||
Selling and marketing expenses | (1,881,782) | (1,241,138) | ||
Administrative expenses | (3,799,884) | (3,194,186) | ||
Other operating expenses | (217,013) | (221,292) | ||
Profit from operations | 8,398,042 | 11,265,453 | ||
Finance costs | (2,304,947) | (2,620,485) | ||
Share of profits less losses of associates and joint ventures | 207,045 | (212,547) | ||
Profit before taxation | 6,300,140 | 8,432,421 | ||
Income tax | (3,793,089) | (6,002,146) | ||
Profit for the period | 2,507,051 | 2,430,275 | ||
Attributable to: | ||||
Equity shareholders of the Company | 1,292,286 | 1,249,359 | ||
Non-controlling interests | 1,214,765 | 1,180,916 | ||
Profit for the period | 2,507,051 | 2,430,275 | ||
Basic earnings per share (RMB) | 0.1112 | 0.1105 | ||
13
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE THREE MONTHS ENDED 31 MARCH 2021
Three months ended
31 March
2021 2020
RMB'000 RMB'000 (Unaudited) (Unaudited)
Other comprehensive income for the period
(after tax and reclassification adjustments) | |||||
Items that will not be reclassified to profit or loss: | |||||
Equity investments at fair value through other comprehensive income | |||||
- net movement in fair value reserve | 57,759 | (734,930) | |||
Items that may be reclassified subsequently to profit or loss: | |||||
Exchange differences on translation of financial statements of overseas | |||||
subsidiaries | 58,429 | 54,237 | |||
Cash flow hedge: net movement in the hedging reserve | (23,831) | 94,247 | |||
Other comprehensive income for the period | 92,357 | (586,446) | |||
Total comprehensive income for the period | 2,599,408 | 1,843,829 | |||
Attributable to: | |||||
Equity shareholders of the Company | 1,305,278 | 650,086 | |||
Non-controlling interests | 1,294,130 | 1,193,743 | |||
Total comprehensive income for the period | 2,599,408 | 1,843,829 | |||
14
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2021
At | At | ||||
31 March | 31 December | ||||
2021 | 2020 | ||||
RMB'000 | RMB'000 | ||||
(Unaudited) | (Audited) | ||||
Non-current assets | |||||
Property, plant and equipment | 32,189,996 | 31,841,854 | |||
Intangible assets | 889,154 | 918,742 | |||
Investment properties | 102,820,121 | 103,459,740 | |||
Interest in associates and joint ventures | 142,365,068 | 141,895,190 | |||
Other financial assets | 2,360,278 | 2,298,997 | |||
Other non-current assets | 13,902,981 | 13,840,079 | |||
Deferred tax assets | 29,001,155 | 27,535,431 | |||
323,528,753 | 321,790,033 | ||||
Current assets | |||||
Inventories and other contract costs | 1,027,827,135 | 1,008,434,340 | |||
Contract assets | 6,534,113 | 6,162,550 | |||
Trade and other receivables | 346,986,250 | 331,115,807 | |||
Other current assets | 122,167 | 172,789 | |||
Pledged and restricted deposits | 7,927,122 | 9,568,344 | |||
Cash and cash equivalents | 188,671,517 | 185,662,380 | |||
Assets held for sale | 6,326,926 | 6,334,728 | |||
1,584,395,230 | 1,547,450,938 | ||||
Current liabilities | |||||
Bank loans and borrowings | 62,785,795 | 70,299,267 | |||
Bonds payable | 10,979,998 | 13,689,877 | |||
Trade and other payables | 523,411,115 | 532,524,608 | |||
Contract liabilities | 681,537,835 | 630,747,211 | |||
Lease liabilities | 1,631,800 | 1,584,257 | |||
Current taxation | 66,573,531 | 68,647,470 | |||
1,346,920,074 | 1,317,492,690 | ||||
Net current assets | 237,475,156 | 229,958,248 | |||
Total assets less current liabilities | 561,003,909 | 551,748,281 | |||
15
At | At | |||
31 March | 31 December | |||
2021 | 2020 | |||
RMB'000 | RMB'000 | |||
(Unaudited) | (Audited) | |||
Non-current liabilities | ||||
Bank loans and borrowings from financial institutions | 132,578,940 | 132,036,783 | ||
Lease liabilities | 24,443,945 | 24,589,946 | ||
Bonds payable | 46,859,671 | 43,576,223 | ||
Deferred tax liabilities | 294,161 | 295,348 | ||
Provisions | 217,892 | 215,331 | ||
Other non-current liabilities | 1,177,295 | 1,190,176 | ||
205,571,904 | 201,903,807 | |||
NET ASSETS | 355,432,005 | 349,844,474 | ||
CAPITAL AND RESERVES | ||||
Share capital | 11,617,732 | 11,617,732 | ||
Reserves | 214,089,937 | 212,893,221 | ||
Total equity attributable to equity shareholders of the Company | 225,707,669 | 224,510,953 | ||
Non-controlling interests | 129,724,336 | 125,333,521 | ||
TOTAL EQUITY | 355,432,005 | 349,844,474 | ||
16
CONDENSED CONSOLIDATED CASH FLOW STATEMENT
FOR THE THREE MONTHS ENDED 31 MARCH 2021
2021 | 2020 | |||
Jan-Mar | Jan-Mar | |||
RMB'000 | RMB'000 | |||
(Unaudited) | (Unaudited) | |||
Operating activities | ||||
Cash generated from operations | 25,752,978 | 4,452,944 | ||
Income tax paid | (8,873,543) | (7,406,806) | ||
Net cash generated from/(uesd in) operating activities | 16,879,435 | (2,953,862) | ||
Investing activities | ||||
Acquisitions of property, plant and equipment and investment properties | (911,049) | (752,903) | ||
Other cash flows generated from investing activities | 1,782,730 | 7,362,157 | ||
Net cash generated from investing activities | 871,681 | 6,609,254 | ||
Financing activities | ||||
Dividends and interest paid | (5,864,507) | (4,064,447) | ||
Other cash flows (used in)/generated from financing activities | (8,902,321) | 7,627,338 | ||
Net cash (used in)/generated from financing activities | (14,766,828) | 3,562,891 | ||
Effect of foreign exchange rate changes | 24,849 | 85,297 | ||
Net increase in cash and cash equivalents | 3,009,137 | 7,303,580 | ||
Cash and cash equivalents at 1 January | 185,662,380 | 159,738,651 | ||
Cash and cash equivalents at 31 March | 188,671,517 | 167,042,231 | ||
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China Vanke Co. Ltd. published this content on 22 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 April 2021 10:35:03 UTC.