鲁 泰Ｂ：第一季度报告全文（英文版） .ppt

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1、Lu Thai Textile Co.,Ltd.Report for the First Quarter of 20121 Important Notes1.1 The Board of Directors,the Supervisory Committee as well as directors,supervisors and senior executives of Lu Thai Textile Co.,Ltd.(hereinafter referred toas“the Company”)guarantee that this report does not contain any

2、false information,misleading statement or material omission and will take individual and/or jointliabilities for the factuality,accuracy and completeness of this report.1.2 Financial statements for the first quarter of 2012 have not been audited by anaccounting firm.1.3 Liu Shizhen,the company princ

3、ipal,and Zhang Hongmei,the principal of theaccounting work,as well as Zhang Keming,the person-in-charge of the accountingdepartment(the accounting principal),hereby confirm that the financial statementsenclosed in the quarterly report is true and complete.English translation for reference only.Shoul

4、d there be any discrepancy between thetwo versions,the Chinese version shall prevail.2 Company Profile2.1 Main accounting data and financial indicesUnit:RMB Yuan,31 Mar.2012,31 Dec.2011,Increase/decrease(%),Total assets(Yuan)Owners equity attributable to shareholders of theCompany(Yuan)Total share c

5、apital(share)Net assets per share attributable to shareholders of theCompany(Yuan/share)Gross revenue(Yuan)Net profit attributable to shareholders of the Company(Yuan)Net cash flows from operating activities(Yuan),7,567,541,316.065,216,962,512.771,008,954,800.005.17Jan.-Mar.20121,320,451,250.50115,1

6、94,435.2299,375,806.73,7,751,885,340.435,086,100,453.101,008,954,800.005.04Jan.-Mar.20111,412,599,864.78207,753,038.5559,816,094.26,-2.38%2.57%0.00%2.58%Increase/decrease(%)-6.52%-44.55%66.14%,Net cash flows per share from operating(Yuan/share),activities,0.10,0.06,66.67%,Basic EPS(Yuan/share)Dilute

7、d EPS(Yuan/share)Weighted average ROA(%)Weighted average ROA after deducting non-recurringgains and losses(%),0.110.112.24%2.06%,0.210.214.61%4.57%,-47.62%-47.62%-2.37%-2.51%,Items of non-recurring gains and losses,Applicable,Inapplicable,Unit:RMB Yuan,Items of non-recurring gains and lossesGains an

8、d losses from disposal of non-current assetsGovernment subsidies recorded into current gains and losses,excluding thoserelated closely to the routine business of the Company and continuously enjoyed bythe Company at fixed amounts or ratios according to state policies and regulationsGains/losses from

9、 fair value changes of transactional financial assets and liabilitiesheld by the Company,and investment gains from disposal of transactional financialassets and liabilities and financial assets available for sale,excluding effectivehedging business related to the Companys common operationsOther non-

10、operating incomes and expensesIncome tax effectsMinority interests effects1,Amount from 1 Jan.2012 to31 Mar.2012141,491.317,548,062.963,768,530.931,248,747.02-3,420,964.54-143,067.97,Notes(if applicable),-,Total,9,142,799.71,2.2 Total number of shareholders and shares held by the top ten shareholder

11、s notsubject to trading moratorium at the end of the reporting periodUnit:share,Total number of shareholders at the end of the reportingperiodShares held by the top ten shareholders not subject to trading moratoriumShares not subject to trading,115,318,Full name of shareholder,moratorium held at the

12、period-end,Type of share,Zibo Lucheng Textile Investment Co.,Ltd.DBS VICKERS(HONG KONG)LTD A/C CLIENTSChina Post Core Selected Stock FundAVIVA INVESTORSFirst Shanghai Securities LimitedChina Post Core Growth Stock FundGF Domestic Demand Growth and Dynamic AssetAllocation Mixed Type FundAVIVA LIFE AN

13、D PENSIONS UK LIMITEDCentral China SecuritiesYanhuang No.1 Selected FundCollection Asset Management PlanChinaAMC Income Fund,123,314,700 RMB ordinary shares40,528,642 Domestically listed foreign shares7,843,578 RMB ordinary shares5,824,228 Domestically listed foreign shares5,567,095 Domestically lis

14、ted foreign shares4,661,608 RMB ordinary shares3,953,319 RMB ordinary shares3,930,923 Domestically listed foreign shares3,780,000 RMB ordinary shares3,639,157 RMB ordinary shares,3 Significant Events3.1 Significant changes in main accounting statement items and financial indicators aswell as reasons

15、 for these changes,Applicable,Non-applicable,(1)Monetary funds stood at RMB 546,900,286.83 as at 31 Mar.2012,down 32.58%over the opening amount,which was mainly because mature bank loans were repaidand the Company paid for unginned cotton.(2)Transactional financial assets stood at RMB 11,288,092.00

16、as at 31 Mar.2012,down 46.09%over the opening amount,which was mainly because sometransactional financial assets were settled upon maturity and fair value decreasedaccordingly.(3)Prepayments stood at RMB 165,494,156.05 as at 31 Mar.2012,down 45.65%over the opening amount,which was mainly because som

17、e prepayments for goodsprocurement last year were settled in this period.(4)Engineering materials stood at RMB 117,959,092.90 as at 31 Mar.2012,up196.78%over the opening amount,which was mainly because procurements ofspecial equipments increased.(5)Other non-current assets stood at RMB 0 as at 31 Ma

18、r.2012,down 100.00%overthe opening amount,which was mainly because prepayments for land moved intointangible assets.(6)Payroll payable stood at RMB 294,536,896.14 as at 31 Mar.2012,down 32.31%over the opening amount,which was mainly because bonuses withdrawn in 2011 werepaid in this period.(7)Taxes

19、and fares payable stood at RMB-61,349,689.91 as at 31 Mar.2012,down300.64%over the opening amount,which was mainly because deductible input VATpayable increased.(8)Interest payable stood at RMB 1,227,529.52 as at 31 Mar.2012,down 41.91%over the opening amount,which was mainly because some interest p

20、ayable was paidupon maturity.(9)Long-term borrowings stood at RMB 0.00 as at 31 Mar.2012,down 100.00%over2,the opening amount,which was mainly because some mature long-term borrowingswere repaid.(10)Business tax and surtaxes stood at RMB 1,276,690.00 as of the reporting period,down 73.62%over the sa

21、me period of last year,which was mainly because the citymaintenance tax and the educational surcharges payable decreased.(11)Financial expense stood at RMB 19,365,581.81 as of the reporting period,up64.64%over the same period of last year,which was mainly because foreignexchange income decreased.(12

22、)Gains on fair value changes stood at RMB-9,651,288.00 as of the reportingperiod,up 38.76%over the same period of last year,which was mainly because fairvalues of transactional financial assets changed.(13)Non-operating expense stood at RMB 347,257.62 as of the reporting period,down 54.39%over the s

23、ame period of last year,which was mainly because donationexpenses decreased.(14)Income tax expense stood at RMB 22,563,948.27 as of the reporting period,down 46.14%over the same period of last year,which was mainly because the taxableincome for this period decreased.(15)Total profit stood at RMB 139

24、,359,644.30 as of the reporting period,down47.43%over the same period of last year,which was mainly because affected by aweak European demand due to the European debt crisis,a slow recovery of the USeconomy and rising domestic labor and power costs,the Company saw rising productcosts,as well as fall

25、ing product prices and gross profit ratios.(16)Net cash flows from operating activities stood at RMB 99,375,806.73 as of thereporting period,up 66.14%over the same period of last year,which was mainlybecause cash paid for goods and services decreased.(17)Net cash flows from investing activities stoo

26、d at RMB-287,664,655.84 as of thereporting period,down 500.66%over the same period of last year,which was mainlybecause the Company increased the input for the 50-million-meter top-gradepiece-dyed fabric project and the 40-million-meter top-grade yarn-dyed fabricproduction line project.3.2 Progress

27、of significant events as well as their influence and solutions3.2.1 Non-standard audit opinion,Applicable,Inapplicable,3.2.2 The Company provides funds for the controlling shareholder or its relatedparties or provides external guarantees in violation of the prescribed procedure,Applicable,Inapplicab

28、le,3.2.3 Significant contracts signed and executed concerning routine operation,Applicable3.2.4 OtherApplicable,InapplicableInapplicable,3.3 Commitments made by the Company,its shareholders and actual controllerCommitments made by the Company,its directors,supervisors,senior executives,shareholders

29、holding over 5%of the Companys shares,actual controller and otherrelated parties in the reporting period,or such commitments carried down into thereporting period,Applicable,Inapplicable,Commitment,Commitment maker,Contents of the commitmentZibo Lucheng will not reduce its shareholding within 60 Zib

30、o,ExecutionLucheng,Textile,Commitments made Zibo Lucheng Textile months after share merger reform and,within 24 months Investment Co.,Ltd.has,in share reforms,Investment Co.,Ltd after that,the price of selling holding shares shall not be fulfilled its commitment to,lower than RMB 15 per share(if the

31、 share capital changes,increase its shareholding in the3,ex-rights will be conducted);it proposed and voted for a Company,with,dividends,cash distribution not lower than 50%of the profit available received from the Company infor distribution in the year at the 2006 Shareholders 2005 and 2006.And the

32、 totalGeneral Meeting and 2007 Shareholders General profit for 2008 increasedMeeting;it will increase the LUTHAI A shares held by it 58.06%as compared to 2005.through trading at the secondary market with the dividends As to 12 Jun.2011,98,358,000received in 2005 and 2006,and the increase of the shar

33、es subject to tradingLUTHAI A shares held shall be accomplished within 12 moratorium of Zibo Luchengmonths after the dividend is transferred to its account.In Textile Investment Co.,Ltd.was2008,the total profit shall increase by not less than 30%released,and listed for trading,compared with that in

34、2005.,on 24 Jun.2011,and now it still,doesnt reduce the shareholding.Commitments made,in acquisition reportsor reports on equity,N/A,N/A,N/A,changesCommitments made,in significant asset N/A,N/A,N/A,reorganizationThe Production Project for150-thousand Ingot Top-gradeFine Combed Yarns,the50-thousand I

35、ngot Two-for-one,Twisting,Production,Line,Project,the,Project,for,Supplementing Working Capital,and,the,Project,of,10-million-meter,Top-grade,Fabrics for Womens Wearamong the raised capitalinvestment projects were all,Commitments made Lu Thai Textile Co.,in share issuance Ltd.,Investment projects wi

36、th raised funds,completed.And the Project forMarketing Network and Brand,Development,is,in,implementation as scheduled bythe Company.The Third SpecialShareholders General Meetingfor Y2011 was convened on 18Oct.2011,at which reviewedand approved to use the raisedproceeds of RMB 140 million toinvest o

37、n the Production LineProject for the New Added40-million Meter Top-gradeYarn-dyed Fabric.Other commitments,(including,N/A,N/A,N/A,supplementary ones)3.4 Warnings of possible loss or large-margin year-on-year change of theaccumulative net profit made during the period from the beginning of the year t

38、o theend of the next reporting period according to prediction,as well as explanations on thereasons,Applicable,Inapplicable,3.5 Other significant events3.5.1 Securities investments,Applicable,Inapplicable,3.5.2 Researches,interviews and visits received in the reporting period,Time,Place,Way ofrecept

39、ion,Type ofvisitor,Visitor,Main discussion andinformation providedby the Company,12 Jan.2012,Room forVisitors of theCompany,Fieldresearch,Instituti Deng Yafeng from Shanghai Chaos Daoranon Asset Management Co.,Ltd.,Basic information aboutthe Company,4,12 Jan.201212 Jan.201212 Jan.201219 Jan.2012,Roo

40、m forVisitors of theCompanyRoom forVisitors of theCompanyRoom forVisitors of theCompanyRoom forVisitors of theCompany,FieldresearchFieldresearchFieldresearchFieldresearch,Instituti Zhao Bing and Zhao Duo from Sealandon Securities Co.,Ltd.Instituti Wang Bing and Xu Wenfeng from Risingon Securities Co

41、.,Ltd.Instituti Zhou Ying and Huang Ruiqing from Caitongon Fund Management Co.,Ltd.Instituti Dong Lanfeng from Yinhua Fund Managementon Co.,Ltd.,Basic information aboutthe CompanyBasic information aboutthe CompanyBasic information aboutthe CompanyBasic information aboutthe Company,2 Feb.2012,Room fo

42、rVisitors of theCompany,Fieldresearch,Institution,Jin Ge and Liu Bing from CICC,Basic information aboutthe Company,15 Feb.2012,Room forVisitors of theCompany,Fieldresearch,Instituti Yuan Li and Ma Tao from GF Securities Co.,on Ltd.,Basic information aboutthe Company,15 Feb.2012,Room forVisitors of t

43、heCompany,Fieldresearch,Instituti Shan Huijin from China Asset Management Co.,Basic information abouton Ltd.the Company,15 Feb.2012,Room forVisitors of theCompany,Fieldresearch,Instituti Gao Yuanyuan from ICBC Credit Suisse Asseton Management Co.,Ltd.,Basic information aboutthe Company,3.6 Derivativ

44、e investments,ApplicableAnalysis on risks and controlmeasures of derivativeproducts held in the reportingperiod(including but notlimited to market risk,liquidityrisk,credit risk,operation risk,law risk,etc.),InapplicableThe Company conducted derivatives products transaction in order for hedging.And

45、the forwardsettlement hedging was operated by installments,with the relevant amount not more than the plannedderivatives products transactions.And all derivatives products transaction was zero-deposit.Meanwhile,the Company had a complete risk control system for sufficient analysis and prevention ofp

46、ossible risks such as risk of laws and regulations,credit risk,operation risk and market risk.1.Risk of laws and regulationsThe Company conducted derivatives products transaction in strict accordance with relevant laws andrules as well as regulatory policies from government securities regulatory aut

47、horities,if there were nostandard operation procedures and strict approval procedures,it was easy to cause compliant andregulatory risks existing in the validity and feasibility of contract,commitments and other legaldocuments signed.Precautionary measures:The Company carefully studied and mastered

48、laws,regulations and policiesrelevant to derivative products transaction,formulated internal control rules for the forward settlementhedging business,standardized the operation procedures.And strengthened the compliant examinationon derivative products investment business,and strictly abided by rele

49、vant laws,regulations and theCompanys internal management rules.2.Credit risk and liquidity riskWhen the contract matures,the Company couldnt deliver as scheduled due to insufficient liquidity,and the counterparty or the Company couldnt fulfill the contract due to other aspects except theliquidity,w

50、hich would cause credit risk and further economic losses for the Company.Precaution measure:the Company chose the powerful financial institutions with good reputation as thecounterparty,and signed standard derivative products transaction contract,as well as strictly controlledthe credit risk of coun