鲁泰Ｂ：2021年第一季度报告全文（英文版）.PDF

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1、Lu Thai Textile Co.,Ltd.First Quarterly Report 2021 1 LU THAI TEXTILE CO.,LTD.FIRST QUARTERLY REPORT 2021 April 2021 Lu Thai Textile Co.,Ltd.First Quarterly Report 2021 2 Part I Important Notes The Board of Directors(or the“Board”),the Supervisory Committee as well as the directors,supervisors and s

2、enior management of Lu Thai Textile Co.,Ltd.(hereinafter referred to as the“Company”)hereby guarantee the factuality,accuracy and completeness of the contents of this Report and its summary,and shall be jointly and severally liable for any misrepresentations,misleading statements or material omissio

3、ns therein.All the Companys directors have attended the Board meeting for the review of this Report and its summary.Liu Zibin,the Companys legal representative,Zhang Hongmei,the Companys Chief Accountant,and Zhang Keming,the Companys Financial Manager hereby guarantee that the Financial Statements c

4、arried in this Report are factual,accurate and complete.This Report and its summary have been prepared in both Chinese and English.Should there be any discrepancies or misunderstandings between the two versions,the Chinese versions shall prevail.Lu Thai Textile Co.,Ltd.First Quarterly Report 2021 3

5、Part II Key Corporate Information I Key Financial Information Indicate by tick mark whether there is any retrospectively restated datum in the table below.Yes No Q1 2021 Q1 2020 Change(%)Operating revenue(RMB)993,485,161.79 1,252,428,965.20-20.68%Net profit attributable to the listed companys shareh

6、olders(RMB)74,530,850.40 103,518,808.50-28.00%Net profit attributable to the listed companys shareholders before exceptional items(RMB)15,513,465.07 103,615,262.08-85.03%Net cash generated from/used in operating activities(RMB)-36,745,428.28 145,916,523.77-125.18%Basic earnings per share(RMB/share)0

7、.09 0.12-25.00%Diluted earnings per share(RMB/share)0.09 0.12-25.00%Weighted average return on equity(%)0.96%1.33%-0.37%31 March 2021 31 December 2020 Change(%)Total assets(RMB)12,197,752,223.47 12,129,903,960.65 0.56%Equity attributable to the listed companys shareholders(RMB)7,774,522,551.24 7,687

8、,577,590.72 1.13%Exceptional gains and losses Applicable Not applicable Unit:RMB Item Q1 2021 Note Gain or loss on disposal of non-current assets(inclusive of impairment allowance write-offs)59,394,526.45 Government subsidies charged to current profit or loss(exclusive of government subsidies given

9、in the Companys ordinary course of business at fixed quotas or amounts as per the governments uniform standards)12,470,516.19 Gain or loss on fair-value changes in held-for-trading financial assets and liabilities,as well as derivative financial assets and liabilities&income from disposal of held-fo

10、r-trading financial assets and liabilities,derivative financial assets and liabilities,as well as investments in other debt obligations(exclusive of effective portion of hedges that arise in the Companys ordinary course of business)-591,341.11 Non-operating income and expense other than the above-1,

11、879,517.36 Less:Income tax effects 10,098,853.35 Non-controlling interests effects(net of tax)277,945.49 Total 59,017,385.33-Lu Thai Textile Co.,Ltd.First Quarterly Report 2021 4 Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed in the Explanato

12、ry Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the PublicExceptional Gain/Loss Items:Applicable Not applicable No such cases for the Reporting Period.II Total Number of Shareholders and Holdings of Top 10 Shareholders at 31 March 2021 1.Numbers of Ordinary

13、Shareholders and Preferred Shareholders with Resumed Voting Rights as well as Holdings of Top 10 Shareholders Unit:share Number of ordinary shareholders at the period-end 57,260 Number of preferred shareholders with resumed voting rights at the period-end(if any)0 Top 10 shareholders Name of shareho

14、lder Nature of shareholder Shareholding percentage Total shares held Restricted shares held Shares in pledge or frozen Status Shares Zibo Lucheng Textile Investment Co.,Ltd.Domestic non-state-owned legal person 16.36%140,353,583 0 Tailun(Thailand)Textile Co.,Ltd.Foreign legal person 13.78%118,232,40

15、0 118,232,400 Central Huijin Assets Management Co.,Ltd.State-owned legal person 2.37%20,315,300 ICBC Credit Suisse Double Interest Bond Securities Investment Fund Domestic non-state-owned legal person 1.28%10,999,958 National Social Security Fund Portfolio 413 Domestic non-state-owned legal person 1

16、.10%9,480,051 Dajia Life Insurance Co.Ltd.-Universal Products Other 0.86%7,348,835 Zhong Ou China Securities Asset Management Plan Other 0.61%5,235,900 Dacheng China Securities Asset Management Plan Other 0.61%5,235,900 Harvest China Securities Asset Management Plan Other 0.61%5,235,900 GF China Sec

17、urities Asset Management Plan Other 0.61%5,235,900 Lu Thai Textile Co.,Ltd.First Quarterly Report 2021 5 Top 10 unrestricted shareholders Name of shareholder Unrestricted shares held Shares by type Type Shares Zibo Lucheng Textile Investment Co.,Ltd.140,353,583 RMB-denominated ordinary stock Central

18、 Huijin Assets Management Co.,Ltd.20,315,300 RMB-denominated ordinary stock ICBC Credit Suisse Double Interest Bond Securities Investment Fund 10,999,958 RMB-denominated ordinary stock National Social Security Fund Portfolio 413 9,480,051 RMB-denominated ordinary stock Dajia Life Insurance Co.Ltd.-U

19、niversal Products 7,348,835 RMB-denominated ordinary stock Zhong Ou China Securities Asset Management Plan 5,235,900 RMB-denominated ordinary stock Dacheng China Securities Asset Management Plan 5,235,900 RMB-denominated ordinary stock Harvest China Securities Asset Management Plan 5,235,900 RMB-den

20、ominated ordinary stock GF China Securities Asset Management Plan 5,235,900 RMB-denominated ordinary stock China China Securities Asset Management Plan 5,235,900 RMB-denominated ordinary stock Related or acting-in-concert parties among the shareholders above Zibo Lucheng Textile Investment Co.,Ltd.i

21、s the largest shareholder of the Company and the actual controller.Tailun(Thailand)Textile Co.,Ltd.is the second largest shareholder as well as sponsor of foreign capital of the Company.All of other shareholders are people holding public A share and the Company is not able to confirm whether there i

22、s associated relationship or concerted action among other shareholders.Top 10 shareholders involved in securities margin trading(if any)Naught Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary shareholders of the Company conducted any promissor

23、y repo during the Reporting Period.Yes No No such cases in the Reporting Period.2.Number of Preferred Shareholders and Shareholdings of Top 10 of Them Applicable Not applicable Lu Thai Textile Co.,Ltd.First Quarterly Report 2021 6 Part III Significant Events I Changes in Key Financial Statement Line

24、 Items and Explanation of why Applicable Not applicable Item 31 March 2021 31 December 2020 Change Reason for change Prepayments 76,377,931.28 19,611,775.28 289.45%Increase in prepayments for cotton Right-of-use assets 49,059,102.53 -100.00%Recognition of right-of-use assets according to the new acc

25、ounting standard governing leases adopted in the current period Other non-current assets 164,333,330.32 95,434,040.18 72.20%Increase in prepayments for land Other current liabilities 68,221,106.95 192,574,674.68-64.57%Recognition in the current period of income from the relocation compensation recei

26、ved in the last period Item Q1 2021 Q1 2020 Change Reason for change Selling expense 22,876,675.00 43,045,212.94-46.85%Reclassification of transportation expense and port expense from selling expense to costs of sales Finance costs 2,268,306.63 14,743,890.27-84.62%Decrease in interest expense and in

27、crease in interest income Return on investment(“-”for loss)7,111,896.31 104,051,767.00-93.17%Transfer of held-for-trading financial assets in the same period of last year Gain on changes in fair value(“-”for loss)-10,376,010.56 -99,714,752.69 89.59%Reversal of recognized gains on changes in the fair

28、 value of held-for-trading financial assets in the same period of last year Credit impairment loss(“-”for loss)14,759,025.50 1,490,082.33 890.48%Decrease in the balance of accounts receivable Asset impairment loss(“-”for loss)-6,272,617.88 -2,090,161.60-200.10%Increase in inventory impairment loss A

29、sset disposal income(“-”for loss)59,394,526.45 -37,045.69 160427.76%Recognition of relocation compensation Non-operating expenses 2,288,330.70 1,540,546.20 48.54%Increase in donation expenditures Net cash generated from/used in operating activities -36,745,428.28 145,916,523.77-125.18%Decrease in ca

30、sh received from selling goods and rendering of services Net cash generated from/used in investing activities 16,210,324.93 -65,312,638.47 124.82%Increase in cash received from disinvestments Lu Thai Textile Co.,Ltd.First Quarterly Report 2021 7 Net cash generated from/used in financing activities 1

31、72,987,678.81 -17,426,491.61 1092.67%Increase in short-and long-term borrowings Net increase in cash and cash equivalents 159,279,909.02 61,713,008.55 158.10%Increase in net cash generated from financing activities II Progress,Influence and Solutions with regard to Significant Events Applicable Not

32、applicable 1.On 9 April 2020,the Company issued 14 million A-share convertible corporate bonds(Luthai Convertible Bond for short;Code:127016)on the Shenzhen Stock Exchange,which were traded at the price of RMB100 and the conversion price of RMB9.01 per share.The bonds were listed on SZSE on 13 May 2

33、020.Due to the interest distribution for the year 2019 on 9 July 2020,the conversion price of Luthai Convertible Bond was adjusted from RMB9.01 per share to RMB8.91 per share.The conversion period of Luthai Convertible Bond started from 15 October 2020.From 1 January 2021 to the end of the first qua

34、rter in 2021,Luthai Convertible Bond saw a drop of RMB14,700.00 in value and a decrease of 147 in number,which were converted to 1,646 shares.By the end of the first quarter in 2021,the remaining value of the convertible bond reached RMB1,399,889,100.00 and the remaining number was 13,998,891.2.On 1

35、2 April 2021,the Company held the 22nd Meeting of the 9th Board of Directors and the 13th Meeting of the 9th Supervisory Committee.The Restricted Stock Incentive Scheme(Draft)and Summary for 2021 and the Management Measures of Luthai Textile Co.,Ltd.for the Enforcement and Assessment of the Restrict

36、ed Stock Incentive Scheme for 2021 were reviewed and passed at those meetings and will be submitted to the 1st Extraordinary General Meeting of 2021 for deliberation.Overview of significant events Disclosure date Announcement index Conversion of convertible bonds into equity in Q1 2021 2 April 2021

37、Refer to Announcement of Lu Thai Textile Co.,Ltd.on Conversion of Convertible Bonds into Equity in Q1 2021 disclosed on 2 April 2021 on for details.Restricted Stock Incentive Scheme for 2021 put forward by the Company 13 April 2021 Refer to the Restricted Stock Incentive Scheme(Draft)and Summary for

38、 2021 of Lu Thai Textile Co.,Ltd.and relevant announcements disclosed on 13 April 2021 on for details.Progress of any share repurchase:Applicable Not applicable Progress of any reduction of the repurchased shares through centralized bidding:Applicable Not applicable III Commitments that the Companys

39、 Actual Controller,Shareholders,Related Parties,Acquirers,the Company Itself or Other Parties,Failed to Fulfill on Time during the Reporting Period Applicable Not applicable Lu Thai Textile Co.,Ltd.First Quarterly Report 2021 8 Commitment Promisor Type of commitment Details of commitment Date of com

40、mitment making Term of commitment Fulfillment Commitments made in share reform Commitments made in acquisition documents or shareholding alteration documents Commitments made in time of asset restructuring Commitments made in IPO or refinancing Controlling shareholder,actual controller Dilution of i

41、mmediate return of public issuance of A-share convertible corporate bonds 1.Its not allowed to interfere the operation and management activities of the Company excessively,and to encroach the interest of the Company.2.From the issuance date of this commitment to the completion of the implementation

42、of the Companys public offering of A-share convertible corporate bonds,if the CSRC makes other new regulatory provisions on remedial measures for returns and the commitment,and the above commitment fails to meet the requirements of the CSRC,the company/I promise to issue supplementary commitment the

43、n in accordance with the latest regulations of CSRC.3.Commitment is made to fulfill the Companys relevant remedial measures for returns and any commitment made herein by the company/me.If the company/I violate(s)such commitment and cause(s)losses to the Company or investors,the company/I will bear t

44、he compensation responsibility to the Company or investors in accordance with the law.23 May 2019 23 May 2019 to 8 April 2026 Ongoing Lu Thai Textile Co.,Ltd.First Quarterly Report 2021 9 The directors and senior manager of the Company Dilution of immediate return of public issuance of A-share conve

45、rtible corporate bonds 1.Commitment is made not to transfer benefits to other units or individuals free of charge or under unfair conditions,and no other ways damaging the interests of the Company will be taken.2.I will strictly abide by the budget management of the Company,and accept the strict sup

46、ervision and management of the Company to avoid waste or excessive consumption.Any position-related consumption behaviors of myself will occur within the scope necessary for the performance of my duties.3.Commitment is made not to use the Companys assets to engage in investment and consumption activ

47、ities unrelated to the performance of duties.4.Commitment is made that the remuneration system developed by the Board of Directors or the Remuneration Committee is linked to the implementation of the Companys remedial measures for returns.5.Commitment is made that the conditions for exercising the E

48、quity Incentive Plan to be issued in the future will be linked to the implementation of the Companys remedial measures for returns.6.From the issuance date of this commitment to the completion of the implementation of the Companys public offering of A-share convertible corporate bonds,if the CSRC ma

49、kes other new regulatory provisions on remedial measures for returns and the commitment,and the above commitment fails to meet the requirements of the CSRC,I promise to issue supplementary 23 May 2019 23 May 2019 to 8 April 2026 Ongoing Lu Thai Textile Co.,Ltd.First Quarterly Report 2021 10 commitme

50、nt then in accordance with the latest regulations of CSRC.7.Commitment is made to fulfill the Companys relevant remedial measures for returns and any commitment made herein by me.If I violate such commitment and causes losses to the Company or investors,I will bear the compensation responsibility to