EX-99.1 2 d144577dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

 

LOGO

(a joint stock limited company incorporated in the People’s Republic of China)

(Stock Code: 00525)

OVERSEAS REGULATORY ANNOUNCEMENT

FIRST QUARTERLY REPORT FOR 2021

 

In accordance with the requirements of the China Securities Regulatory Commission (“CSRC”), Guangshen Railway Company Limited (the “Company”) is required to issue a first quarterly report.

The financial information set out in this quarterly report has not been audited, and has been prepared in accordance with the PRC Enterprise Accounting Standards.

This announcement is made in accordance with Rule 13.09(2)(a) and 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

 

1.

IMPORTANT NOTICE

 

1.1

The board of directors, supervisory committee, directors, supervisors and senior management of the Company warrant that the contents of this quarterly report are authentic, accurate and complete, and there are no misrepresentations or misleading statements contained in or material omissions from this quarterly report, and severally and jointly accept the related legal responsibility.

 

1.2

All directors of the Company attended the meeting of the board of directors to consider this quarterly report.

 

1.3

Mr. Wu Yong, Chairman of the Company, Mr. Hu Lingling, General Manager, Mr. Luo Xinpeng, Chief Accountant and Mr. Liu Qiyi, Chief of Finance Department hereby declare that the authenticity, accuracy and completeness of the financial statements contained in this quarterly report are warranted.

 

1.4

The financial statements contained in this quarterly report of the Company have not been audited.

 

- 1 -

2.

THE OVERALL INFORMATION OF THE COMPANY

 

2.1

Principal financial data

Unit: ¥    Currency: RMB

 

       
    

At the end of this

reporting period

   

At the end of

last year

   

Increase/decrease

as compared with

the end of this

reporting period of

last year (%)

     
Total assets    36,867,346,357       36,780,451,862       0.24   
     

Net assets attributable to shareholders of listed company

    28,124,745,820       28,192,839,252       (0.24)  
     
    

From the

beginning of the

year to the end of
the reporting

period

    From the
beginning of last
year to the end of
the reporting
period of last year		    Increase/decrease
as compared with
the same period of
last year (%)
     

Net cash flow from operating activities

    (328,591,924)      392,515,633       (183.71)  
     
    

From the

beginning of the

year to the end of

the reporting

period

   

From the

beginning of last

year to the end of

the reporting

period of last year

   

Increase/decrease

as compared with

the same period of

last year (%)

     

Revenues from operation

    4,413,764,612       3,767,511,446       17.15   
     

Net profit attributable to shareholders of listed company

    (93,372,207)      (462,072,653)      N/A   
     

Net profit attributable to shareholders of listed company after extraordinary gain or loss

    (93,683,062)      (462,654,338)      N/A   
     

Weighted average return on net assets (%)

    (0.33)      (1.60)      N/A   
     

Basic earnings per share (¥/share)

    (0.013)      (0.065)      N/A   
     

Diluted earnings per share (¥/share)

    (0.013)      (0.065)      N/A   

 

- 2 -

    

Extraordinary gain or loss items and amounts

✓  Applicable     ☐  Not applicable

Unit: ¥    Currency: RMB

 

Items   

Amount for the

period

  
   

Gain or loss on disposal of non-current assets

      (2,833,279 ) 
   

Other non-operating income and expenses other than aforesaid items

      2,209,950  
   

Effect of minority interest (net of tax)

      927,411  
   

Effect of income tax

      6,773  
   

Total

      310,855  

Note:    Extraordinary losses are expressed in negative figures.

 

- 3 -

2.2

Total number of shareholders, shareholding of top ten shareholders and top ten holders of shares without selling restrictions at the
end of the reporting period

Unit: Shares

Total number of shareholders

(Number)

    202,110

 

Shareholding of top ten shareholders

 

Name of shareholder (Full name)   

Number of
shares held at
the end of the

period

     

Percentage

(%)

     

Number of
shares
with

selling
restrictions

held

      Subject to pledge or
frozen		      Nature of shareholder
   Status of
shares		      Number  
             

China Railway Guangzhou Group Co., Ltd.

      2,629,451,300        37.12        —          None        —        State-owned legal person
             

HKSCC NOMINEES LIMITED

(Note)

      1,538,497,803        21.72        —          Unknown        —        Foreign legal person
             

Lin Naigang

      124,000,000        1.75        —          Unknown        —        Domestic natural person
             

Li Wei

      32,000,001        0.45        —          Unknown        —        Domestic natural person
             

Taiyuan Iron & Steel (Group) Company Limited

      29,338,189        0.41        —          Unknown        —        State-owned legal person
             

Li Haihong

      28,541,961        0.40        —          Unknown        —        Domestic natural person
             

Harvest Fund — Agricultural Bank of China — Harvest CSI Financial Asset Management Plan

      28,101,600        0.40        —          Unknown        —        Other
             

Yinhua Fund — Agricultural Bank of China — Yinhua CSI Financial Asset Management Plan

      26,814,300        0.38        —          Unknown        —        Other
             

Zhongou Fund — Agricultural Bank of China — Zhongou CSI Financial Assets Management Plan

      26,436,800        0.37        —          Unknown        —        Other
             

Southern Fund — Agricultural Bank of China — Southern CSI Financial Asset Management Plan

      24,907,300        0.35        —          Unknown        —        Other

 

- 4 -

 
Shareholding of top ten shareholders holding shares without selling restrictions  
     
Name of shareholders   Number of shares
held without
selling restrictions		   Class and number of shares  
  Class      Number  
       

China Railway Guangzhou Group Co., Ltd.

  

2,629,451,300

    

 Renminbi-denominated

ordinary shares

  

 

      2,629,451,300  
       

HKSCC NOMINEES LIMITED (Note)

        

 Renminbi-denominated

ordinary shares

  

 

      121,383,504  
 

1,538,497,803

    
 Overseas listed foreign
shares		  
 		      1,417,114,299  
       

Lin Naigang

  

124,000,000

    

 Renminbi denominated

ordinary shares

  

 

      124,000,000  
       

Li Wei

  

32,000,001

    

 Renminbi denominated

ordinary shares

  

 

      32,000,001  
       

Taiyuan Iron & Steel (Group) Company Limited

  

29,338,189

    

 Renminbi-denominated

ordinary shares

  

 

      29,338,189  
       

Li Haihong

  

28,541,961

    

 Renminbi denominated

ordinary shares

  

 

      28,541,961  
       

Harvest Fund — Agricultural Bank of China — Harvest
CSI Financial Asset Management Plan

  

28,101,600

    

 Renminbi-denominated

ordinary shares

  

 

      28,101,600  
       

Yinhua Fund — Agricultural Bank of China — Yinhua
CSI Financial Asset Management Plan

  

26,814,300

    

 Renminbi-denominated

ordinary shares

  

 

      26,814,300  
       

Zhongou Fund — Agricultural Bank of China — Zhongo
u CSI Financial Assets Management Plan

  

26,436,800

    

 Renminbi-denominated

ordinary shares

  

 

      26,436,800  
       

Southern Fund — Agricultural Bank of China — Southern
CSI Financial Asset Management Plan

  

24,907,300

    

 Renminbi denominated

ordinary shares

  

 

      24,907,300  
   

Statement regarding connected relationship or concerted
action of the above shareholders

   The Company is unaware whether the above shareholders are connected or concerted parties as defined in Measures on Administration of Acquisitions of Listed Companies.

 

 

  Note:

121,383,504 A shares and 1,417,114,299 H shares of the Company were held by HKSCC NOMINEES LIMITED in the capacity of various clients.

 

2.3

Total number of preference shareholders, shareholding of top ten preference shareholders and top ten preference shareholders holding shares without selling restrictions at the end of the reporting period

☐  Applicable     ✓  Not applicable

 

- 5 -

3.

SIGNIFICANT EVENTS

 

3.1

Significant changes of key accounting items and financial indicators and reasons for changes

✓ Applicable     ☐ Not applicable

Unit: ¥    Currency: RMB

 

           

  Statement

  of Profit

   Items     Jan-Mar 2021       Jan-Mar 2020      

 Movement

(%)

  

 

    Major reason analysis
           

  (1)

   Credit
impairment
loss		     (42,504,173 )      —         100.00      Recalculate according to the estimated credit loss rate stipulated by the railway transportation enterprise and reverse the credit impairment loss accrued in the previous year.
           

  (2)

   Net profit
attributable
to owners
of the
parent		     (93,372,207 )      (462,072,653 )      N/A      Due to the effective control of the COVID-19 pandemic in PRC, the passenger and good transportation volume of the Company have recovered during the reporting period with increased income from operation of the Company.
           

  Cash Flow

  Statement

   Items    

 Jan – Mar

2021

  

 

    

 Jan – Mar

2020

  

 

    

 Movement

(%)

  

 

    Major reason analysis
           

  (1)

   Net cash
flows from
operating
activities		     (328,591,924 )      392,515,63 3      (183.71)      Due to the payment of unpaid construction and equipment payables, material procurement expenses at the end of the previous year as well as deferred payment of labor union funds and employee education funds and supplementary pension insurance contributions.
           

  (2)

   Net cash
flows from
investing
activities		     (103,615,679 )      (352,228,216 )      N/A      Due to the decrease in fixed asset investment expenditures.

 

- 6 -

3.2

Progress and impact of significant events and analysis and explanations for solutions

☐ Applicable     ✓ Not applicable

 

3.3

Commitments which have not been fulfilled during the reporting period

☐ Applicable     ✓ Not applicable

 

3.4

Caution and explanation as to the anticipated loss of accumulated net profit from the beginning of the year to the end of the next reporting period or significant changes over the same period of last year

☐ Applicable     ✓ Not applicable

 

   
Name of Company    Guangshen Railway Company Limited
   
Legal representative    Wu Yong
   
Date    27 April 2021

 

- 7 -

4.

APPENDIX

 

4.1

FINANCIAL STATEMENTS

Combined Balance Sheet

31 March 2021

Prepared by: Guangshen Railway Company Limited    Unit: ¥     Currency: RMB    Audit type: Unaudited

 

     
Items    31 March 2021      31 December 2020  

Current assets:

 

Bank balances and cash

      1,191,078,086        1,545,232,043  

Trade receivables

      4,491,509,847        3,721,676,955  

Prepayments

      9,860,344        5,124,452  

Other receivables

      595,941,983        595,861,776  

Inventories

      308,105,633        296,405,900  

Other current assets

      91,423,731        94,535,587  

Total current assets

      6,687,919,624        6,258,836,713  

Non-current assets:

 

Debt investments

      160,000,000        160,000,000  

Long-term receivables

      24,121,604        23,733,581  

Long-term equity investments

      196,283,289        196,848,985  

Investments in other equity instruments

      377,631,199        377,631,199  

Fixed assets

      22,889,422,153        23,016,083,082  

Constructions-in-progress

      2,480,474,217        2,778,675,953  

Right-of-use assets

      1,348,493,701        1,352,498,274  

Intangible assets

      1,818,191,922        1,831,303,551  

Goodwill

      281,254,606        281,254,606  

Long-term prepaid expenses

      44,734,725        43,888,542  

Deferred income tax assets

      521,904,817        422,953,733  

Other non-current assets

      36,914,500        36,743,643  

Total non-current assets

      30,179,426,733        30,521,615,149  

Total assets

      36,867,346,357        36,780,451,862  

 

- 8 -

Combined Balance Sheet (Continued)

31 March 2021

Prepared by: Guangshen Railway Company Limited    Unit: ¥     Currency: RMB    Audit type: Unaudited

 

     
Items    31 March 2021      31 December 2020  
 

Current liabilities:

 

     

Trade payables

      4,895,209,734        4,988,615,141  
     

Contract liabilities

      253,015,556        215,305,381  
     

Staff remuneration payable

      497,880,795        442,701,969  
     

Tax payable

      68,279,972        63,638,806  
     

Other payables

      1,431,104,982        1,357,761,713  
     

Other current liabilities

      18,539,693        14,833,718  
     

Non-current liabilities due within one year

      62,162,500        61,880,000  
     

Total current liabilities

      7,226,193,232        7,144,736,728  
 

Non-current liabilities:

 

     

Lease liabilities

      1,316,813,434        1,315,693,163  
     

Deferred income

      103,714,040        104,938,887  
     

Deferred income tax liabilities

      132,240,845        58,912,559  
     

Total non-current liabilities

      1,552,768,319        1,479,544,609  
     

Total liabilities

      8,778,961,551        8,624,281,337  
 

Owners’ equity (or shareholders’ equity):

 

     

Paid-in capital (or share capital)

      7,083,537,000        7,083,537,000  
     

Capital reserves

      11,562,657,448        11,562,657,448  
     

Other comprehensive income

      181,940,940        181,940,940  
     

Appropriative reserves

      28,873,553        —    
     

Surplus reserves

      3,084,484,724        3,084,484,726  
     

Retained earnings

      6,183,252,155        6,280,219,138  
     

Total equity attributable to owners (or shareholders’ equity) of the parent

      28,124,745,820        28,192,839,252  
     

Minority interests

      (36,361,014 )       (36,668,727 ) 
     

Total owners’ equity (or shareholders’ equity)

      28,088,384,806        28,156,170,525  
     

Total liabilities and owners’ equity (or shareholders’ equity)

      36,867,346,357        36,780,451,862  

Chairman: Wu Yong    General Manager: Hu Lingling

Chief Accountant: Luo Xinpeng     Chief of Finance Department: Liu Qiyi

 

- 9 -

Company Balance Sheet

31 March 2021

Prepared by: Guangshen Railway Company Limited    Unit: ¥     Currency: RMB    Audit type: Unaudited

 

     
Items    31 March 2021      31 December 2020  

Current assets:

 

Bank balances and cash

      1,191,098,894        1,545,222,622  

Trade receivables

      4,488,707,498        3,716,035,332  

Prepayments

      5,583,994        5,106,139  

Other receivables

      595,711,717        751,430,086  

Inventories

      302,847,658        292,269,250  

Other current assets

      264,317,072        92,938,515  

Total current assets

      6,848,266,833        6,403,001,944  

Non-current assets:

 

Debt investments

      160,000,000        160,000,000  

Long-term receivables

      24,121,604        23,733,581  

Long-term equity investments

      278,814,748        279,380,444  

Investments in other equity instruments

      375,913,320        375,913,320  

Fixed assets

      22,821,960,684        22,946,937,504  

Constructions-in-progress

      2,480,474,217        2,778,675,953  

Right-of-use assets

      1,348,493,701        1,352,498,274  

Intangible assets

      1,552,443,568        1,562,722,321  

Goodwill

      281,254,606        281,254,606  

Long-term prepaid expenses

      43,345,736        42,614,082  

Deferred income tax assets

      424,074,353        434,550,411  

Other non-current assets

      7,438,514        7,267,658  

Total non-current assets

      29,798,335,051        30,245,548,154  

Total assets

      36,646,601,884        36,648,550,098  

 

- 10 -

Company Balance Sheet (Continued)

31 March 2021

Prepared by: Guangshen Railway Company Limited    Unit: ¥     Currency: RMB    Audit type: Unaudited

 

Items   31 March 2021      31 December 2020  

Current liabilities:

 

Trade payables

     4,854,730,160        4,967,604,697  

Contract liabilities

     252,911,436        215,196,603  

Staff remuneration payable

     493,235,758        438,972,664  

Tax payable

     67,693,820        61,869,778  

Other payables

     1,095,223,821        1,003,783,793  

Other current liabilities

     18,539,693        14,833,718  

Non-current liabilities due within one year

     62,162,500        61,880,000  

Total current liabilities

     6,844,497,188        6,764,141,253  

Non-current liabilities:

 

Lease liabilities

     1,316,813,434        1,315,693,163  

Deferred income

     103,714,040        104,938,887  

Total non-current liabilities

     1,420,527,474        1,420,632,050  

Total liabilities

     8,265,024,662        8,184,773,303  

Owners’ equity (or shareholders’ equity):

 

Paid-in capital (or share capital)

     7,083,537,000        7,083,537,000  

Capital reserves

     11,564,461,609        11,564,461,609  

Other comprehensive income

     181,940,940        181,940,940  

Appropriative reserves

     28,873,553        —    

Surplus reserves

     3,084,484,726        3,084,484,726  

Retained earnings

     6,438,279,394        6,549,352,520  

Total owners’ equity (or shareholders’ equity)

     28,381,577,222        28,463,776,795  

Total liabilities and owners’ equity (or shareholders’ equity)

     36,646,601,884        36,648,550,098  

Chairman: Wu Yong    General Manager: Hu Lingling

Chief Accountant: Luo Xinpeng     Chief of Finance Department: Liu Qiyi

 

- 11 -

Combined Statement of Profit

January to March 2021

Prepared by: Guangshen Railway Company Limited    Unit: ¥     Currency: RMB    Audit type: Unaudited

 

Items    The first quarter of 2021     The first quarter of 2020  

I.   Total revenues from operation

      4,413,764,612       3,767,511,446  

Include: Revenues from operation

      4,413,764,612       3,767,511,446  

II. Total operating costs

      4,577,882,895       4,239,712,129  

Include: Operating costs

      4,498,687,910       4,151,476,780  

Business tax and surcharges

      11,096,089       9,141,028  

Management expenses

      57,805,062       73,137,987  

Finance costs

      10,293,834       5,956,334  

Include: Interest expense

      16,875,271       14,411,213  

Interest income

      6,805,008       6,902,315  

Add: Other gains

      4,128,123       3,827,381  

Gains from investments (loss denoted by “-”)

      (565,696 )      1,730,891  

Include: Gains from investments in associates and joint ventures

      (565,696 )      1,730,891  

Credit impairment losses (loss denoted by “-”)

      42,504,173       —    

III.  Profit from operation (loss denoted by “-”)

      (118,051,683 )      (466,642,411 ) 

Add: Non-operating income

      3,555,622       1,220,887  

Less: Non-operating expenses

      2,992,973       2,839,670  

 

- 12 -

Combined Statement of Profit (Continued)

January to March 2021

Prepared by: Guangshen Railway Company Limited    Unit: ¥     Currency: RMB    Audit type: Unaudited

 

Items    The first quarter of 2021     The first quarter of 2020  

IV.  Gross profit (gross loss denoted by “-”)

      (117,489,034 )      (468,261,194 ) 

Less: Income tax expenses

      (24,424,539 )      (7,000,092 ) 

V. Net profit (net loss denoted by “-”)

      (93,064,495 )      (461,261,102 ) 

(1)   By continuous operation

                 

1.  Net profit from continuous operation (net loss denoted by “-”)

      (93,064,495 )      (461,261,102 ) 

2.  Net profit from discontinuous operation (net loss denoted by “-”)

      —         —    

(2)   By ownership of the equity

                 

1.  Net profit attributable to owners of the parent (net loss denoted by “-”)

      (93,372,207 )      (462,072,653 ) 

2.  Profit or loss of minority shareholders (net loss denoted by “-”)

      307,712       811,551  

VI.  Net other comprehensive income after tax

      —         —    

VII.  Total comprehensive income

      (93,064,495 )      (461,261,102 ) 

(1)   Total comprehensive income attributable to owners of the parent

      (93,372,207 )      (462,072,653 ) 

(2)   Total comprehensive income attributable to minority shareholders

      307,712       811,551  

VIII.Earnings per share:

                 

(1)   Basic earnings per share (¥/share)

      (0.013 )      (0.065 ) 

(2)   Diluted earnings per share (¥/share)

      (0.013 )      (0.065 ) 

Chairman: Wu Yong    General Manager: Hu Lingling

Chief Accountant: Luo Xinpeng     Chief of Finance Department: Liu Qiyi

 

- 13 -

Company Statement of Profit

January to March 2021

Prepared by: Guangshen Railway Company Limited    Unit: ¥     Currency: RMB    Audit type: Unaudited

 

Items    The first quarter of 2021     The first quarter of 2020  

I.   Revenues from operation

      4,302,580,308       3,742,605,652  

Less: Operating costs

      4,409,194,612       4,105,512,245  

Business tax and surcharges

      10,370,863       9,004,330  

Management expenses

      53,094,863       68,618,356  

Finance costs

      10,348,073       6,061,958  

Include: Interest expense

      16,875,271       14,411,213  

Interest income

      6,707,421       6,742,058  

Add:Other gains

      3,053,122       3,611,253  

Gains from investments (loss denoted by “-”)

      (565,696 )      1,730,891  

Include: Gains from investments in associates and joint ventures

      (565,696 )      1,730,891  

Credit impairment losses (loss denoted by “-”)

      42,504,173       —    

II. Profit from operation (loss denoted by “-”)

      (135,436,504 )      (441,249,093 ) 

Add: Non-operating income

      3,549,293       1,076,992  

Less: Non-operating expenses

      2,987,274       2,830,190  

III.  Gross profit (gross loss denoted by “-”)

      (134,874,485 )      (443,002,291 ) 

Less: Income tax expenses

      (23,801,359 )      (6,376,974 ) 

 

- 14 -

Company Statement of Profit (Continued)

January to March 2021

Prepared by: Guangshen Railway Company Limited    Unit: ¥     Currency: RMB    Audit type: Unaudited

 

Items   

The first

quarter of 2021

    

The first

quarter of 2020

  

IV.  Net profit (net loss denoted by “-”)

      (111,073,126 )      (436,625,317 ) 

(1)   Net profit from continuous operation (net loss denoted by “-”)

      (111,073,126 )      (436,625,317 ) 

(2)   Net profit from discontinuous operation (net loss denoted by “-”)

      —         —    

V. Net other comprehensive income after tax

      —         —    

VI.  Total comprehensive income

      (111,073,126 )      (436,625,317 ) 

VII.  Earnings per share:

                 

(1)   Basic earnings per share (¥/share)

      N/A       N/A  

(2)   Diluted earnings per share (¥/share)

      N/A       N/A  

Chairman: Wu Yong    General Manager: Hu Lingling

Chief Accountant: Luo Xinpeng     Chief of Finance Department: Liu Qiyi

 

- 15 -

Combined Cash Flow Statement

January to March 2021

Prepared by: Guangshen Railway Company Limited    Unit: ¥     Currency: RMB    Audit type: Unaudited

 

     
Items    The first quarter of 2021     The first quarter of 2020  
   

I.   Cash flows from operating activities:

                 
     

Cash received from sales of goods or rendering of services

      3,176,340,726       2,710,559,217  
     

Cash received relating to other operating activities

      48,276,171       87,707,349  
     

Sub-total of cash inflows from operating activities

      3,224,616,897       2,798,266,566  
     

Cash paid for goods purchased and services accepted

      1,527,901,836       724,116,809  
     

Cash paid to and on behalf of employees

      1,769,375,631       1,394,043,055  
     

Tax paid

      103,567,319       257,684,809  
     

Cash paid relating to other operating activities

      152,364,035       29,906,260  
     

Sub-total of cash outflows from operating activities

      3,553,208,821       2,405,750,933  
     

Net cash flows from operating activities

      (328,591,924 )      392,515,633  
   

II.   Cash flows from investing activities:

                 
     

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

      93,802,016       10,787  
     

Sub-total of cash inflows from investing activities

      93,802,016       10,787  
     

Cash paid to construct fixed assets, intangible assets and other long-term assets

      197,417,695       352,239,003  
     

Sub-total of cash outflows from investing activities

      197,417,695       352,239,003  
     

Net cash flows from investing activities

      (103,615,679 )      (352,228,216 ) 

 

- 16 -

Combined Cash Flow Statement (Continued)

January to March 2021

Prepared by: Guangshen Railway Company Limited    Unit: ¥     Currency: RMB    Audit type: Unaudited

 

     
Items    The first quarter of 2021     The first quarter of 2020  
 

III. Cash flows from financing activities:

  

     

Cash received relating to other financing activities

      78,053,646       —  
     

Sub-total of cash inflows from financing activities

      78,053,646       —  
     

Net cash flows from financing activities

      78,053,646       —  
     

IV.  Effect of foreign exchange rate changes on cash and cash equivalents

      —       —  
     

V. Net increase in cash and cash equivalents

      (354,153,957 )      40,287,417  
     

Add:Balance of cash and cash equivalents at the beginning of the period

      1,545,232,043       1,562,333,604  
     

VI.  Balance of cash and cash equivalents at the end of the period

      1,191,078,086       1,602,621,021  

Chairman: Wu Yong    General Manager: Hu Lingling

Chief Accountant: Luo Xinpeng Chief of Finance Department: Liu Qiyi

 

- 17 -

Company Cash Flow Statement

January to March 2021

Prepared by: Guangshen Railway Company Limited    Unit: ¥     Currency: RMB    Audit type: Unaudited

 

     
Items    The first quarter of 2021     The first quarter of 2020  

I.   Cash flows from operating activities:

                 
     

Cash received from sales of goods or rendering of services

      3,146,238,980       2,682,817,984  
     

Cash received relating to other operating activities

      48,155,445       68,286,119  
     

Sub-total of cash inflows from operating activities

      3,194,394,425       2,751,104,103  
     

Cash paid for goods purchased and services accepted

      1,518,182,546       719,193,148  
     

Cash paid to and on behalf of employees

      1,740,751,395       1,354,561,291  
     

Tax paid

      101,959,910       255,182,072  
     

Cash paid relating to other operating activities

      928,958,449       29,650,641  
     

Sub-total of cash outflows from operating activities

      4,289,852,300       2,358,587,152  
     

Net cash flows from operating activities

      (1,095,457,875 )      392,516,951  

II.   Cash flows from investing activities:

                 
     

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

      93,802,016       10,787  
     

Sub-total of cash inflows from investing activities

      93,802,016       10,787  
     

Cash paid to construct fixed assets, intangible assets and other long-term assets

      197,417,695       352,239,003  
     

Sub-total of cash outflows from investing activities

      197,417,695       352,239,003  
     

Net cash flows from investing activities

      (103,615,679 )      (352,228,216 ) 

 

- 18 -

Company Cash Flow Statement (Continued)

January to March 2021

Prepared by: Guangshen Railway Company Limited    Unit: ¥     Currency: RMB    Audit type: Unaudited

 

 

III. Cash flows from financing activities:

  

     

Cash received relating to other financing activities

      844,949,826       —    
     

Sub-total of cash inflows from financing activities

      844,949,826       —    
     

Net cash flows from financing activities

      844,949,826       —    
     

IV.  Effect of foreign exchange rate changes on cash and cash equivalents

      —         —    
     

V. Net increase in cash and cash equivalents

      (354,123,728 )      40,288,735  
     

Add: Balance of cash and cash equivalents at the beginning of the period

      1,545,222,622       1,562,323,909  
     

VI.  Balance of cash and cash equivalents at the end of the period

      1,191,098,894       1,602,612,644  

Chairman: Wu Yong    General Manager: Hu Lingling

Chief Accountant: Luo Xinpeng Chief of Finance Department: Liu Qiyi

 

4.2

Information of adjustments made to the opening financial statements for the year of first adoption of new revenue accounting standards and new lease accounting standards since 2020

☐ Applicable     ✓ Not applicable

 

4.3

Explanation of the retrospective adjustments made to the comparative figures of prior periods due to the first adoption of new revenue accounting standards and new lease accounting standards since 2020

☐ Applicable     ✓ Not applicable

 

4.4

Audit Report

☐ Applicable     ✓ Not applicable

 

- 19 -