鲁 泰Ｂ：2011年第三季度报告全文（英文版） .ppt

-,-,-,-,LU THAI TEXTILE CO.,LTD.THE THIRD QUARTERLY REPORT FOR 20111 Important Notice1.1 The Board of Directors,the Supervisory Committee,directors,supervisors andother senior management personnel of Lu Thai Textile Co.,Ltd.(hereinafter referredto as“the Company”)hereby guarantee that this report carries no false information,misleading statements or major omissions,and accept,individually and collectively,the responsibility for the factuality,accuracy and completeness of the information setforth herein.1.2 The Financial Report in the third quarterly report has not been audited by a CPAfirm.1.3 Mr.Liu Shizhen,Principal of the Company,Ms.Zhang Hongmei,person incharge of accounting work and accounting organ(Financial Manager)herebyconfirmed that the Financial Report enclosed in the third quarterly report is true andcomplete.2 Company Profile2.1 Main accounting data and financial indexesUnit:RMB Yuan,As at 30 Sept.2011,As at 31 Dec.2010,Increase/decrease(%),Total assets(Yuan)Owners equity attributable to shareholders oflisted company(Yuan)Share capital(Share)Net assets per share attributable toshareholders of listed company(Yuan/share),7,573,814,630.794,948,303,645.551,008,954,800.004.90,7,015,883,263.334,404,133,413.47994,864,800.004.43,7.95%12.36%1.42%10.61%,Jul.-Sept.2011,Increase/decreaseyear-on-year(%),Jan.-Sept.2011,Increase/decreaseyear-on-year(%),Total operation income(Yuan),1,483,566,032.99,8.52%4,464,379,130.19,23.53%,Net profit attributable to shareholders of listedcompany(Yuan)Net cash flows generated from operatingactivities(Yuan)Net cash flows per share generated fromoperating activities(Yuan/share)Basic earnings per share(Yuan/share)Diluted earnings per share(Yuan/share)Weighted average return on net assets(%)Weighted average return on net assets afterdeducting extraordinary gains and losses(%),225,012,704.000.230.234.69%4.39%,8.93%9.52%9.52%-0.30%0.14%,716,659,769.96912,386,476.860.900.720.7215.33%14.70%,24.98%18.67%18.67%24.14%24.14%1.27%1.85%,Items of non-recurring gains and losses,Applicable,Inapplicable,Unit:RMB Yuan,Items of non-recurring gains and lossesGains and losses from disposal of non-current assetsGovernment subsidies recorded into current gains and losses,excluding those relatedclosely to the routine business of the Company and continuously enjoyed by the Companyat fixed amounts or ratios according to state policies and regulationsGains and losses on change in fair value from tradable financial assets and tradablefinancial liabilities,as well as investment income from disposal of tradable financial assetsand tradable financial liabilities and financial assets available for sales except for effectivehedging related with normal businesses of the CompanyOther non-operating incomes and expenses besides the above each item mentionedEffect on income taxEffect on minority interest,Amount-8,942,648.2714,012,541.5236,615,036.051,323,029.51-10,445,871.89-3,116,778.56,Note（Ifapplicable）1,-,Total,29,445,308.36,2.2 Total number of shareholders and shareholding of top ten shareholders holdingtradable sharesUnit:share,Total number of shareholders at the period-endShareholding of top ten shareholders holding tradable shares,117,122,Full name of shareholder,Number of tradable shares held atperiod-end,Type of share,ZIBO LUCHENG TEXTILE INVESTMENT CO.,LTD,123,314,700 RMB ordinary shares,DBS VICKERS(HONG KONG)LTD A/C CLIENTS,40,628,642,Domestically listed foreignshares,GF Domestic Demand Growth and Dynamic AssetAllocation Mixed Type FundGF Small-Cap Growth Stock FundE FUND VALUE GROWTH MIXED FUND,10,079,962 RMB ordinary shares8,474,408 RMB ordinary shares7,999,970 RMB ordinary shares,AVIVA INVESTORS,6,811,596,Domestically listedshares,foreign,GF Large-Cap Growth Mixed Type Fund,5,099,881 RMB ordinary shares,First Shanhai Securities Ltd.MIRAE ASSET GLOBAL DISCOVERY FUND,4,397,5413,826,850,Domestically listedsharesDomestically listedshares,foreignforeign,ORIENT RED NO.2 PLAN ON MANAGEMENT OFCOLLECTED ASSETS,3,457,100 RMB ordinary shares,3 Significant Events3.1 Particular about large-margin change of main accounting statement item andfinancial index and its reason,Applicable,Inapplicable,Reasons for significant movements of the items in the financial statements:1.Monetary funds as at 30 Sept.2011 were RMB 995,738,991.09,up 64.81%fromthe amount as at the year-begin,which was mainly because some new short-termborrowings were obtained and had not been used up by the period-end.2.Transactional financial assets as at 30 Sept.2011 were RMB 21,135,640.00,down47.71%from the amount as at the year-begin,which was mainly due to the fair valuechanges in the actual delivery of derivative financial assets in the current period.3.Prepayments as at 30 Sept.2011 were RMB 192,303,948.70,down 50.41%fromthe amount as at the year-begin,which was mainly because the prepayments made inthe same period of last year for goods purchases were settled in the current period.4.Interest receivable as at 30 Sept.2011 was RMB 0.00,down RMB 1,568,105.85from the amount as at the year-begin,which was mainly because the interestreceivable from banks on mature guarantee deposits were collected.5.Construction in process as at 30 Sept.2011 was RMB 220,378,419.30,up 231.70%from the amount as at the year-begin,which was mainly due to more inputs toconstruction projects in the current period.6.Engineering materials as at 30 Sept.2011 were RMB 32,712,082.39,up 2709.88%from the amount as at the year-begin,which was mainly because more equipmentswere bought in and installed.7.Notes payable as at 30 Sept.2011 were RMB 16,413,706.03,down 79.12%fromthe amount as at the year-begin,which was mainly because notes payable werecleared upon maturity.8.Accounts payable as at 30 Sept.2011 were RMB 241,192,199.62,down 48.63%from the amount as at the year-begin,which was mainly because the accounts payablein the same period of last year by the subsidiary Xinjiang Lu Thai to cotton growers2,for seed cotton were cleared in the current period.9.Taxes and fares payable as at 30 Sept.2011 were RMB 53,868,537.43,up 520.62%from the amount as at the year-begin,which was mainly because the overpaid VATdecreased and the corporate income tax payable increased.10.Interest payable as at 30 Sept.2011 was RMB 3,306,452.64,down 31.19%fromthe amount as at the year-begin,which was mainly because the interest payable wascleared upon maturity.11.Dividend payable as at 30 Sept.2011 was RMB 442,309.44,down 86.43%fromthe amount as at the year-begin,which was mainly because the subsidiary BeijingSichuang paid dividends to minority shareholders.12.Non-current liabilities due within one year as at 30 Sept.2011 were RMB95,926,380.00,up 38.29%from the amount as at the year-begin,which was mainlybecause more long-term borrowings became non-current liabilities due within oneyear.13.Long-term borrowings as at 30 Sept.2011 were RMB 20,000,000.00,down76.84%from the amount as at the year-begin,which was mainly because somelong-term borrowings became due within one year.14.Deferred income tax liabilities as at 30 Sept.2011 were RMB 5,852,894.96,down34.30%from the amount as at the year-begin,which was mainly because transactionalfinancial assets decreased and the corresponding deferred income tax liabilities alsodecreased.15.Business tax and surtaxes for Jan.-Sept.2011 were RMB 27,603,473.30,up1754.48%over the same period of last year,which was mainly because the citymaintenance tax and the educational surcharge increased.16.Administration expense for Jan.-Sept.2011 was RMB 457,468,203.51,up 34.50%over the same period of last year,which was mainly because the employees wagesand the R&D expenditure increased.17.Asset impairment loss for Jan.-Sept.2011 was RMB 1,523,022.06,down 96.01%over the same period of last year,which was mainly because the impairment provisionfor fixed assets decreased.18.Gains on fair value changes for Jan.-Sept.2011 were RMB-18,733,931.72,down122.03%over the same period of last year,which was mainly because sometransactional financial assets were settled upon maturity and the corresponding gainson fair value changes previously recognized were carried forward.19.Investment gains for Jan.-Sept.2011 were RMB 55,348,967.77,up 199.22%overthe same period of last year,which was mainly because the investment gains ontransactional financial assets(liabilities)increased.20.Non-business income for Jan.-Sept.2011 was RMB 21,676,511.86,down 39.37%over the same period of last year,which was mainly because governmental subsidiesdecreased.21.Non-business expense for Jan.-Sept.2011 was RMB 14,733,777.72,up 143.65%over the same period of last year,which was mainly because losses on disposing fixedassets increased.22.Income tax expense for Jan.-Sept.2011 was RMB 148,134,647.59,up 35.42%over the same period of last year,which was mainly because the total profit increasedand the income tax expense increased accordingly.3.2 Progress and influence of significant events,as well as the analysis on solutions3.2.1 Non-standard audit opinion,Applicable,Inapplicable,3,3.2.2 Whether the Company provided funds to the controlling shareholder or itsrelated parties or provided guarantees to external parties in violation of the prescribedprocedures,Applicable,Inapplicable,3.2.3 Signing and execution of significant contracts concerning routine operations,Applicable3.2.4 OthersApplicable,InapplicableInapplicable,3.3 Fulfillment of commitments made by the Company,shareholders and the actualcontrollerCommitments made by the Company,its directors,supervisors,senior executives,shareholders with an over 5%shareholding,actual controller and other stakeholdersduring the reporting period,or such commitments carried down into the reportingperiod:,Applicable,Inapplicable,Commitment,Commitmentmaker,Contents of the commitment,Execution,Zibo Lucheng will not reduce itsshareholding within 60 monthsafter share merger reform and,within 24 months after that,the Zibo,Lucheng,Textile,price of selling holding shares Investment Co.,Ltd.hasshall not be lower than RMB 15 fulfilled its commitment toper share(if the share capital increase its shareholding in the,changes,ex-rights will be Company,with,dividends,conducted);it proposed and received from the Company invoted for a cash distribution not 2005 and 2006.And the totallower than 50%of the profit profit for 2008 increased,Zibo LuchengCommitments made in share Textilereforms InvestmentCo.,Ltd.,available for distribution in the 58.06%as compared to 2005.Asyear at the 2006 Shareholders at 12 Jun.2011,the period ofGeneral Meeting and 2007 trading moratorium on theShareholders General Meeting;98,358,000 shares held by Ziboit will increase the LUTHAI A Lucheng Textile Investment Co.,shares held by it through trading Ltd.became due,and thoseat the secondary market with the shares have been released fordividends received in 2005 and trading since 24 Jun.2011.2006,and the increase of the The committed term(24LUTHAI A shares held shall be months)after the expirationaccomplished within 12 months ranges from 24 Jun.2011 to 24after the dividend is transferred Jun.2013.to its account.In 2008,the totalprofit shall increase by not lessthan 30%compared with that in2005.Commitments made in,acquisition,reports,or N/A,N/A,N/A,reports on equity changesCommitments made in,significant,asset N/A,N/A,N/A,reorganizationThe Production Project for150-thousand Ingot Top-grade,Commitments made inshare issuance,Lu ThaiTextile Co.,Ltd.,Investment projects with raisedfunds,Fine Combed Yarns,the50-thousand Ingot Two-for-oneTwisting Production Line,Project,the,Project,for,Supplementing Working Capital4,and,the,Project,of,10-million-meter,Top-grade,Fabrics for Womens Wearamong the raised capitalinvestment projects were allcompleted.And the Project forMarketing Network and Brand,Developmentimplementation,isby,inthe,Company.On 18 Oct.2011,theThird Special ShareholdersGeneral Meeting reviewed andapproved the Proposal onInvesting RMB 0.14 billion ofraised funds to the Project ofNewly Added 40-million-meterTop-grade Yarn Dyed FabricProduction Line,Other,commitments,(including,supplementary N/A,N/A,N/A,ones)3.4 Warnings of possible losses or major changes of the accumulative net profitachieved during the period from year-begin to the end of the next reporting periodcompared with the same period of last year,as well as explanation on reasons,Applicable,Inapplicable,3.5 Other significant events that need to be explained3.5.1 Investments into securities,Applicable,Inapplicable,3.5.2 Researches,interviews and visits received in reporting period,Reception time6 Sept.2011,Reception placeReception room ofthe Company,Reception wayField research,VisitorFranklin Templeton Sealand FundManagement Co.,Ltd.,Main discussion and materialsprovidedBasic information of the Company,9 Sept.2011,Reception room ofthe Company,Field research SINOLINK SECURITIES CO.,LTD.Basic information of the Company,9 Sept.201122 Sept.201122 Sept.201122 Sept.2011,Reception room ofthe CompanyReception room ofthe CompanyReception room ofthe CompanyReception room ofthe Company,Field research HongYuan Securities Co.,LtdField research Tebon Securities Co.Ltd.Field research Ivy Asset Management LLCField research Fullgoal Fund Management Co.,Ltd.,Basic information of the CompanyBasic information of the CompanyBasic information of the CompanyBasic information of the Company,22 Sept.2011,Reception room ofthe Company,Field research,Guangdong New Value InvestmentCo.,Ltd.,Basic information of the Company,22 Sept.201122 Sept.2011,Reception room ofthe CompanyReception room ofthe Company,Field research China Securities Co.,Ltd.Field research Haitong Securities Co.,Ltd,Basic information of the CompanyBasic information of the Company,3.6 Investments into derivatives,Applicable,Inapplicable,Analysis on risks and controlmeasures of derivative productsheld in the reporting period(including but not limited tomarket risk,liquidity risk,creditrisk,operation risk,law risk,etc.),The Company conducted derivatives products transaction in order for hedging.Andthe forward settlement hedging was operated by installments,with the relevant amountnot more than the planned derivatives products transactions.And all derivativesproducts transaction was zero-deposit.Meanwhile,the Company had a complete riskcontrol system for sufficient analysis and prevention of possible risks such as risk oflaws and regulations,credit risk,operation risk and market risk.1.Risk of laws and regulationsWhen conducting hedging business,the Company must abide by relevant laws,5,regulations and rules of the stock exchange,and the rights and obligations between theCompany and the bank must be specified.Precautionary measures:The Company carefully studied and mastered relevant laws,regulations and market rules,formulated internal control rules for the forwardsettlement hedging business,strengthened supervision,and strictly abided by relevantlaws,regulations and the Companys internal management rules.2.Credit risk and liquidity