[PRNewswire] JCET Innovation and Manufacturing Strategies Deliver Record High
Revenue for FY2020 with Profits Twice the Total of the Last 17 Years
* Fourth Quarter and Fiscal Year 2020 Financial Results:
- Fourth-quarter revenue was RMB 7.70 billion. On a comparable basis, taking into account the accounting change in revenue recognition, it was an increase of 17.6% year on year (see note 1).
- Full-year revenue was RMB 26.46 billion. On a comparable basis, taking into account the accounting change in revenue recognition, it was an increase of 28.2% year on year (see note 2).
- Fourth-quarter cash from operations was RMB 1.80 billion. With net capex investments of RMB 1.01 billion, free cash flow for the quarter was RMB 0.79 billion.
- Full-year cash from operations was RMB 5.43 billion, up 71.1% year on year. With net capex investments of RMB 3.01 billion, free cash flow for the year was RMB 2.42 billion.
- Fourth-quarter net profit was RMB 0.54 billion. Full-year net profit was RMB 1.30 billion, a record high in the company's history.
- Earnings per share was RMB 0.34 in the fourth quarter and RMB 0.81 for the full year, as compared to RMB 0.17 in Q4 2019 and RMB 0.06 in 2019 respectively.
- Note 1: During the reporting period, we optimized the business model for the purchase and sale of certain packaged products, of which JCET Group no longer bears the general inventory risk on the main raw materials. In accordance with PRC GAAP, both revenue and costs of goods sold were recorded on the net basis and decreased by RMB 0.92 billion respectively. This change had no impact on the company's net profit. Assuming that revenue was still recognized by the gross method (should be recorded on the net basis according to PRC GAAP), it would be RMB 8.62 billion, an increase of 17.6% over the same period last year.
- Note 2: During the reporting period, we optimized the business model for the purchase and sale of certain packaged products, of which JCET Group no longer bears the general inventory risk on the main raw materials. In accordance with PRC GAAP, both revenue and costs of goods sold were recorded on the net basis and decreased by RMB 3.70 billion respectively. This change had no impact on the company's net profit. Assuming that revenue was still recognized by the gross method (should be recorded on the net basis according to PRC GAAP), it would be RMB 30.16 billion, an increase of 28.2% over the same period last year.
(SHANGHAI, April 28, 2021 PRNewswire=연합뉴스) JCET (SSE: 600584), a leading global provider of integrated circuit (IC) manufacturing and technology services, today announced its full year financial results for the year ended December 31, 2020. According to the financial report, in 2020, JCET achieved solid and rapid growth with strong profitability, with revenue of RMB 26.46 billion and net profit of RMB 1.30 billion.
The demand for semiconductor products was historically strong in 2020, driven by the rapid development and integration of 5G and AI. JCET was poised and ready for this opportunity, delivering a record level performance for FY2020 by successfully optimizing and integrating the technology, management and production capacity resources of its domestic and international manufacturing hubs and R&D centers. JCET also leveraged its years of accumulated industry know-how and continued expanding its investment in both R&D and talent development, resulting in a year-on-year increase of 5.2% in R&D expenditure and 154 new patents. JCET's core technologies include advanced packaging technologies such as System-in-Package (SiP), high-density flip-chip and wafer-level-packaging (WLP), providing innovative solutions for 5G communication, automotive, high-performance computing, storage and other demanding applications. During FY2020, the cumulative number of JCET patents grew to 3,238. The expansion of intellectual property has created a solid foundation for future innovations that will be needed to meet the unique and complex demands of the market.
Mr. Li Zheng, CEO of JCET said, "With over 50 years of OSAT industry experiences, JCET is now firmly positioned as a tier-1 global IC manufacturing and service provider. With the support and guidance from our new board of directors, the company has successfully optimized and integrated our technology, talent and production recourses throughout our operations around the world. We have made significant investments to continue developing innovative packaging technologies as well as assembly and test manufacturing processes. These strategic initiatives led to our record breaking performance in 2020 and have also positioned us well for the opportunities that lie ahead of us in 2021!"
Ms. Janet Chou, CFO of JCET said, "We delivered record level annual revenue, profit and free cash flows in 2020. The net profit for the year was approximately twice the sum of the net profits for the 17 years since the public listing of JCET. We strengthened our balance sheet with significant improvements in our key financial metrics. We announced a common stock dividend of RMB 0.05 per share. Our focus on advanced packaging technologies is paying off."
In the post-Moore era, technical collaboration across the IC industry chain is becoming more and more important. As a leading supplier in the IC industry, JCET continues operating by its core value of "win-win cooperation" and is committed to promoting the collaborative development of the supply chain to enable the semiconductor industry to successfully overcome the challenges created by the growing demands of the market.
For more information, please refer to JCET FY2020 report.
CONSOLIDATED BALANCE SHEET (Audited) (RMB in millions)
_____ | As of Dec 31, 2020 | As of Dec 31, 2019
ASSETS
Current assets
Currency funds | 2,235 | 2,569
Trading financial assets | 5 | 0
Derivative financial assets | 8 | 4
Accounts receivable | 3,846 | 3,350
Receivables financing | 41 | 68
Prepayments | 158 | 188
Other receivables | 41 | 11
Inventories | 2,946 | 2,731
Current portion of non-current assets | 0 |137
Other current assets | 149 | 501
Total current assets | 9,429 | 9,559
Non-current assets
Long-term receivables |42 | 40
Long-term equity investments | 949 | 972
Other equity investments | 430 | 517
Investment properties | 96 | 100
Fixed assets | 17,790 | 17,799
Construction in progress | 866 | 1,664
Intangible assets | 526 | 587
Goodwill | 2,071 | 2,214
Long-term prepaid expenses | 0 | 1
Deferred tax assets | 128 | 128
Other non-current assets | 1 | 1
Total non-current assets | 22,899 | 24,023
Total assets | 32,328 | 33,582
CONSOLIDATED BALANCE SHEET (CONTINUED) (Audited) (RMB in millions)
_____ | As of Dec 31, 2020 | As of Dec 31, 2019
LIABILITIES AND EQUITY
Current liabilities
Short-term borrowings | 5,288 | 9,098
Derivative financial liabilities | 0 | 161
Notes payable | 513 | 958
Accounts payable | 4,499 | 4,618
Receipts in advance | 0 | 113
Contract liabilities | 173 | 0
Employee benefits payable | 858 | 586
Taxes and surcharges payable | 109 | 53
Other payables | 254 | 235
Current portion of long-term liabilities | 2,131 | 1,827
Other current liabilities | 21 | 0
Total current liabilities | 13,846 | 17,649
Non-current liabilities
Long-term borrowings | 2,978 | 1,585
Bonds payable | 999 | 0
Long-term payables | 592 | 1,216
Long-term employee benefits payable | 4 | 1
Deferred income | 375 | 337
Deferred tax liabilities | 124 | 156
Total non-current liabilities | 5,072 | 3,295
Total liabilities | 18,918 | 20,944
Equity
Paid-in capital | 1,603 | 1,603
Surplus reserves | 10,242 | 10,242
Accumulated other comprehensive income | (83) | 429
Specialized reserves | 120 | 122
Unappropriated profit | 1,518 | 231
Total equity attributable to owners of the parent | 13,400 | 12,627
Minority shareholders | 10 | 11
Total equity | 13,410 | 12,638
Total liabilities and equity | 32,328 | 33,582
CONSOLIDATED INCOME STATEMENT (Audited) (RMB in millions, except share data)
_____ | Three months ended Dec 31, 2020 | Three months ended Dec 31, 2019 | Year ended Dec 31, 2020 | Year ended Dec 31, 2019
Revenue | 7,701 | 7,330 | 26,464 | 23,526
Less: Cost of sales | 6,512 | 6,388 | 22,374 | 20,895
Taxes and surcharges | 20 | 10 | 48 | 37
Selling expenses | 50 | 67 | 225 | 265
Administrative expenses | 350 | 230 | 1,037 | 1,044
Research and development expenses | 252 | 393 | 1,020 | 969
Finance expenses | 152 | 213 | 634 | 870
Including: Interest expenses | 136 | 153 | 569 | 742
Interest income | 11 | 7 | 42 | 27
Add: Other income | 88 | 79 | 185 | 296
Investment income / (loss) | 6 | 6 | (2) | 7
Including: Income / (loss) from investments in associates and joint ventures | (3) | 3 | (11) | 4
Gain / (loss) on the net position hedging | (5) | (14) | (4) | (13)
Gain / (loss) on changes in fair value of financial assets/liabilities | 39 | (86) | 67 | (86)
Credit impairment (loss is expressed by "-") | 1 | (29) | (7) | (35)
Asset impairment (loss is expressed by "-") | (62) | (219) | (87) | (234)
Gain / (loss) on disposal of assets | 126 | 730 | 168 | 744
Operating profit / (loss) | 558 | 496 | 1,446 | 125
Add: Non-operating income | 3 | 6 | 6 | 6
Less: Non-operating expenses | 3 | 47 | 21 | 51
Profit / (loss) before income taxes | 558 | 455 | 1,431 | 80
Less: Income tax expenses | 17 | 178 | 125 | (17)
Net profit / (loss) | 541 | 277 | 1,306 | 97
Classified by continuity of operations
Profit / (loss) from continuing operations | 541 | 277 | 1,306 | 97
Classified by ownership
Net profit / (loss) attributable to owners of the parent | 540 | 271 | 1,304 | 89
Net profit / (loss) attributable to minority shareholders | 1 | 6 | 2 | 8
Add: Unappropriated profit at beginning of period | 994 | (40) | 231 | 142
Less: Other reductions | 16 | 0 | 17 | 0
Unappropriated profit at end of period (attributable to owners of the parent) | 1,518 | 231 | 1,518 | 231
CONSOLIDATED INCOME STATEMENT (CONTINUED) (Audited) (RMB in millions, except share data)
_____ | Three months ended Dec 31, 2020 | Three months ended Dec 31, 2019 | Year ended Dec 31, 2020 | Year ended Dec 31, 2019
Other comprehensive income, net of tax | (308) | (42) | (505) | 156
Comprehensive income attributable to owners of the parent | (308) | (42) | (505) | 156
Comprehensive income not be reclassified to profit or loss | (40) | 10 | (50) | 10
Remeasurement gains or losses of a defined benefit plan | (2) | (1) | (2) | (1)
Change in the fair value of other equity investments | (38) | 11 | (48) | 11
Comprehensive income to be reclassified to profit or loss | (268) | (52) | (455) | 146
Cash flow hedge reserve | (3) | (1) | (1) | 3
Exchange differences of foreign currency financial statements | (265) | (51) | (454) | 143
Total comprehensive income | 233 | 235 | 801 | 253
Including:
Total comprehensive income attributable to owners of the parent | 232 | 229 | 799 | 245
Total comprehensive income attributable to minority shareholders | 1 | 6 | 2 | 8
Earnings per share
Basic earnings per share | 0.34 | 0.17 | 0.81 | 0.06
Diluted earnings per share | 0.34 | 0.17 | 0.81 | 0.06
CONSOLIDATED CASH FLOW STATEMENT (Audited) (RMB in millions, except share data)
_____ | Three months ended Dec 31, 2020 | Three months ended Dec 31, 2019 | Year ended Dec 31, 2020 | Year ended Dec 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Cash receipts from the sale of goods and the rendering of services | 7,989 | 7,548 | 27,350 | 24,199
Receipts of taxes and surcharges refunds | (42) | 354 | 486 | 651
Other cash receipts relating to operating activities | 139 | 120 | 905 | 396
Total cash inflows from operating activities | 8,086 | 8,022 | 28,741 | 25,246
Cash payments for goods and services | 4,891 | 5,009 | 18,475 | 17,385
Cash payments to and on behalf of employees | 1,143 | 1,067 | 3,787 | 3,766
Payments of all types of taxes and surcharges | 186 | (158) | 499 | 253
Other cash payments relating to operating activities | 63 | 290 | 545 | 666
Total cash outflows from operating activities | 6,283 | 6,208 | 23,306 | 22,070
Net cash flows from operating activities | 1,803 | 1,814 | 5,435 | 3,176
CASH FLOWS FROM INVESTING ACTIVITIES
Cash receipts from returns of investments | 6 | (30) | 12 | 73
Cash receipts from investment income | 9 | 31 | 9 | 32
Net cash receipts from disposal of fixed assets, intangible assets and other long-term assets | 253 | 23 | 318 | 68
Net cash receipts from disposal of subsidiaries and other business units | 56 | 0 | 56 | 0
Other cash receipts relating to investing activities | 81 | 0 | 81 | 20
Total cash inflows from investing activities | 405 | 24 | 476 | 193
Cash payments to acquire fixed assets, intangible assets and other long-term assets | 1,268 | 647 | 3,330 | 2,803
Cash payments for investments | 5 | 0 | 5 | 0
Total cash outflows from investing activities | 1,273 | 647 | 3,335 | 2,803
Net cash flows from investing activities | (868) | (623) | (2,859) | (2,610)
CONSOLIDATED CASH FLOW STATEMENT (CONTINUED) (Audited) (RMB in millions, except share data)
_____ | Three months ended Dec 31, 2020 | Three months ended Dec 31, 2019 | Year ended Dec 31, 2020 | Year ended Dec 31, 2019
CASH FLOWS FROM FINANCING ACTIVITIES
Cash receipts from borrowings | 5,775 | 3,437 | 15,725 | 14,280
Other cash receipts relating to financing activities | 0 | 238 | 0 | 2,118
Total cash inflows from financing activities | 5,775 | 3,675 | 15,725 | 16,398
Cash repayments for debts | 5,738 | 4,687 | 16,190 | 17,300
Cash payments for distribution of dividends or profit and interest expenses | 189 | 57 | 614 | 726
Including: Dividends or profit paid to non-controlling shareholders of subsidiaries | 3 | 0 | 3 | 0
Other cash payments relating to financing activities | 676 | 545 | 1,167 | 1,311
Total cash outflows from financing activities | 6,603 | 5,289 | 17,971 | 19,337
Net cash flows from financing activities | (828) | (1,614) | (2,246) | (2,939)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | 4 | (10) | (29) | 33
NET INCREASE IN CASH AND CASH EQUIVALENTS | 111 | (433) | 301 | (2,340)
Add: Cash and cash equivalents at beginning of period | 2,056 | 2,299 | 1,866 | 4,206
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 2,167 | 1,866 | 2,167 | 1,866
Logo - https://mma.prnewswire.com/media/1498784/JCET_Logo.jpg
(PRNewsfoto/JCET Group)
Source: JCET Group
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Revenue for FY2020 with Profits Twice the Total of the Last 17 Years
* Fourth Quarter and Fiscal Year 2020 Financial Results:
- Fourth-quarter revenue was RMB 7.70 billion. On a comparable basis, taking into account the accounting change in revenue recognition, it was an increase of 17.6% year on year (see note 1).
- Full-year revenue was RMB 26.46 billion. On a comparable basis, taking into account the accounting change in revenue recognition, it was an increase of 28.2% year on year (see note 2).
- Fourth-quarter cash from operations was RMB 1.80 billion. With net capex investments of RMB 1.01 billion, free cash flow for the quarter was RMB 0.79 billion.
- Full-year cash from operations was RMB 5.43 billion, up 71.1% year on year. With net capex investments of RMB 3.01 billion, free cash flow for the year was RMB 2.42 billion.
- Fourth-quarter net profit was RMB 0.54 billion. Full-year net profit was RMB 1.30 billion, a record high in the company's history.
- Earnings per share was RMB 0.34 in the fourth quarter and RMB 0.81 for the full year, as compared to RMB 0.17 in Q4 2019 and RMB 0.06 in 2019 respectively.
- Note 1: During the reporting period, we optimized the business model for the purchase and sale of certain packaged products, of which JCET Group no longer bears the general inventory risk on the main raw materials. In accordance with PRC GAAP, both revenue and costs of goods sold were recorded on the net basis and decreased by RMB 0.92 billion respectively. This change had no impact on the company's net profit. Assuming that revenue was still recognized by the gross method (should be recorded on the net basis according to PRC GAAP), it would be RMB 8.62 billion, an increase of 17.6% over the same period last year.
- Note 2: During the reporting period, we optimized the business model for the purchase and sale of certain packaged products, of which JCET Group no longer bears the general inventory risk on the main raw materials. In accordance with PRC GAAP, both revenue and costs of goods sold were recorded on the net basis and decreased by RMB 3.70 billion respectively. This change had no impact on the company's net profit. Assuming that revenue was still recognized by the gross method (should be recorded on the net basis according to PRC GAAP), it would be RMB 30.16 billion, an increase of 28.2% over the same period last year.
(SHANGHAI, April 28, 2021 PRNewswire=연합뉴스) JCET (SSE: 600584), a leading global provider of integrated circuit (IC) manufacturing and technology services, today announced its full year financial results for the year ended December 31, 2020. According to the financial report, in 2020, JCET achieved solid and rapid growth with strong profitability, with revenue of RMB 26.46 billion and net profit of RMB 1.30 billion.
The demand for semiconductor products was historically strong in 2020, driven by the rapid development and integration of 5G and AI. JCET was poised and ready for this opportunity, delivering a record level performance for FY2020 by successfully optimizing and integrating the technology, management and production capacity resources of its domestic and international manufacturing hubs and R&D centers. JCET also leveraged its years of accumulated industry know-how and continued expanding its investment in both R&D and talent development, resulting in a year-on-year increase of 5.2% in R&D expenditure and 154 new patents. JCET's core technologies include advanced packaging technologies such as System-in-Package (SiP), high-density flip-chip and wafer-level-packaging (WLP), providing innovative solutions for 5G communication, automotive, high-performance computing, storage and other demanding applications. During FY2020, the cumulative number of JCET patents grew to 3,238. The expansion of intellectual property has created a solid foundation for future innovations that will be needed to meet the unique and complex demands of the market.
Mr. Li Zheng, CEO of JCET said, "With over 50 years of OSAT industry experiences, JCET is now firmly positioned as a tier-1 global IC manufacturing and service provider. With the support and guidance from our new board of directors, the company has successfully optimized and integrated our technology, talent and production recourses throughout our operations around the world. We have made significant investments to continue developing innovative packaging technologies as well as assembly and test manufacturing processes. These strategic initiatives led to our record breaking performance in 2020 and have also positioned us well for the opportunities that lie ahead of us in 2021!"
Ms. Janet Chou, CFO of JCET said, "We delivered record level annual revenue, profit and free cash flows in 2020. The net profit for the year was approximately twice the sum of the net profits for the 17 years since the public listing of JCET. We strengthened our balance sheet with significant improvements in our key financial metrics. We announced a common stock dividend of RMB 0.05 per share. Our focus on advanced packaging technologies is paying off."
In the post-Moore era, technical collaboration across the IC industry chain is becoming more and more important. As a leading supplier in the IC industry, JCET continues operating by its core value of "win-win cooperation" and is committed to promoting the collaborative development of the supply chain to enable the semiconductor industry to successfully overcome the challenges created by the growing demands of the market.
For more information, please refer to JCET FY2020 report.
CONSOLIDATED BALANCE SHEET (Audited) (RMB in millions)
_____ | As of Dec 31, 2020 | As of Dec 31, 2019
ASSETS
Current assets
Currency funds | 2,235 | 2,569
Trading financial assets | 5 | 0
Derivative financial assets | 8 | 4
Accounts receivable | 3,846 | 3,350
Receivables financing | 41 | 68
Prepayments | 158 | 188
Other receivables | 41 | 11
Inventories | 2,946 | 2,731
Current portion of non-current assets | 0 |137
Other current assets | 149 | 501
Total current assets | 9,429 | 9,559
Non-current assets
Long-term receivables |42 | 40
Long-term equity investments | 949 | 972
Other equity investments | 430 | 517
Investment properties | 96 | 100
Fixed assets | 17,790 | 17,799
Construction in progress | 866 | 1,664
Intangible assets | 526 | 587
Goodwill | 2,071 | 2,214
Long-term prepaid expenses | 0 | 1
Deferred tax assets | 128 | 128
Other non-current assets | 1 | 1
Total non-current assets | 22,899 | 24,023
Total assets | 32,328 | 33,582
CONSOLIDATED BALANCE SHEET (CONTINUED) (Audited) (RMB in millions)
_____ | As of Dec 31, 2020 | As of Dec 31, 2019
LIABILITIES AND EQUITY
Current liabilities
Short-term borrowings | 5,288 | 9,098
Derivative financial liabilities | 0 | 161
Notes payable | 513 | 958
Accounts payable | 4,499 | 4,618
Receipts in advance | 0 | 113
Contract liabilities | 173 | 0
Employee benefits payable | 858 | 586
Taxes and surcharges payable | 109 | 53
Other payables | 254 | 235
Current portion of long-term liabilities | 2,131 | 1,827
Other current liabilities | 21 | 0
Total current liabilities | 13,846 | 17,649
Non-current liabilities
Long-term borrowings | 2,978 | 1,585
Bonds payable | 999 | 0
Long-term payables | 592 | 1,216
Long-term employee benefits payable | 4 | 1
Deferred income | 375 | 337
Deferred tax liabilities | 124 | 156
Total non-current liabilities | 5,072 | 3,295
Total liabilities | 18,918 | 20,944
Equity
Paid-in capital | 1,603 | 1,603
Surplus reserves | 10,242 | 10,242
Accumulated other comprehensive income | (83) | 429
Specialized reserves | 120 | 122
Unappropriated profit | 1,518 | 231
Total equity attributable to owners of the parent | 13,400 | 12,627
Minority shareholders | 10 | 11
Total equity | 13,410 | 12,638
Total liabilities and equity | 32,328 | 33,582
CONSOLIDATED INCOME STATEMENT (Audited) (RMB in millions, except share data)
_____ | Three months ended Dec 31, 2020 | Three months ended Dec 31, 2019 | Year ended Dec 31, 2020 | Year ended Dec 31, 2019
Revenue | 7,701 | 7,330 | 26,464 | 23,526
Less: Cost of sales | 6,512 | 6,388 | 22,374 | 20,895
Taxes and surcharges | 20 | 10 | 48 | 37
Selling expenses | 50 | 67 | 225 | 265
Administrative expenses | 350 | 230 | 1,037 | 1,044
Research and development expenses | 252 | 393 | 1,020 | 969
Finance expenses | 152 | 213 | 634 | 870
Including: Interest expenses | 136 | 153 | 569 | 742
Interest income | 11 | 7 | 42 | 27
Add: Other income | 88 | 79 | 185 | 296
Investment income / (loss) | 6 | 6 | (2) | 7
Including: Income / (loss) from investments in associates and joint ventures | (3) | 3 | (11) | 4
Gain / (loss) on the net position hedging | (5) | (14) | (4) | (13)
Gain / (loss) on changes in fair value of financial assets/liabilities | 39 | (86) | 67 | (86)
Credit impairment (loss is expressed by "-") | 1 | (29) | (7) | (35)
Asset impairment (loss is expressed by "-") | (62) | (219) | (87) | (234)
Gain / (loss) on disposal of assets | 126 | 730 | 168 | 744
Operating profit / (loss) | 558 | 496 | 1,446 | 125
Add: Non-operating income | 3 | 6 | 6 | 6
Less: Non-operating expenses | 3 | 47 | 21 | 51
Profit / (loss) before income taxes | 558 | 455 | 1,431 | 80
Less: Income tax expenses | 17 | 178 | 125 | (17)
Net profit / (loss) | 541 | 277 | 1,306 | 97
Classified by continuity of operations
Profit / (loss) from continuing operations | 541 | 277 | 1,306 | 97
Classified by ownership
Net profit / (loss) attributable to owners of the parent | 540 | 271 | 1,304 | 89
Net profit / (loss) attributable to minority shareholders | 1 | 6 | 2 | 8
Add: Unappropriated profit at beginning of period | 994 | (40) | 231 | 142
Less: Other reductions | 16 | 0 | 17 | 0
Unappropriated profit at end of period (attributable to owners of the parent) | 1,518 | 231 | 1,518 | 231
CONSOLIDATED INCOME STATEMENT (CONTINUED) (Audited) (RMB in millions, except share data)
_____ | Three months ended Dec 31, 2020 | Three months ended Dec 31, 2019 | Year ended Dec 31, 2020 | Year ended Dec 31, 2019
Other comprehensive income, net of tax | (308) | (42) | (505) | 156
Comprehensive income attributable to owners of the parent | (308) | (42) | (505) | 156
Comprehensive income not be reclassified to profit or loss | (40) | 10 | (50) | 10
Remeasurement gains or losses of a defined benefit plan | (2) | (1) | (2) | (1)
Change in the fair value of other equity investments | (38) | 11 | (48) | 11
Comprehensive income to be reclassified to profit or loss | (268) | (52) | (455) | 146
Cash flow hedge reserve | (3) | (1) | (1) | 3
Exchange differences of foreign currency financial statements | (265) | (51) | (454) | 143
Total comprehensive income | 233 | 235 | 801 | 253
Including:
Total comprehensive income attributable to owners of the parent | 232 | 229 | 799 | 245
Total comprehensive income attributable to minority shareholders | 1 | 6 | 2 | 8
Earnings per share
Basic earnings per share | 0.34 | 0.17 | 0.81 | 0.06
Diluted earnings per share | 0.34 | 0.17 | 0.81 | 0.06
CONSOLIDATED CASH FLOW STATEMENT (Audited) (RMB in millions, except share data)
_____ | Three months ended Dec 31, 2020 | Three months ended Dec 31, 2019 | Year ended Dec 31, 2020 | Year ended Dec 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Cash receipts from the sale of goods and the rendering of services | 7,989 | 7,548 | 27,350 | 24,199
Receipts of taxes and surcharges refunds | (42) | 354 | 486 | 651
Other cash receipts relating to operating activities | 139 | 120 | 905 | 396
Total cash inflows from operating activities | 8,086 | 8,022 | 28,741 | 25,246
Cash payments for goods and services | 4,891 | 5,009 | 18,475 | 17,385
Cash payments to and on behalf of employees | 1,143 | 1,067 | 3,787 | 3,766
Payments of all types of taxes and surcharges | 186 | (158) | 499 | 253
Other cash payments relating to operating activities | 63 | 290 | 545 | 666
Total cash outflows from operating activities | 6,283 | 6,208 | 23,306 | 22,070
Net cash flows from operating activities | 1,803 | 1,814 | 5,435 | 3,176
CASH FLOWS FROM INVESTING ACTIVITIES
Cash receipts from returns of investments | 6 | (30) | 12 | 73
Cash receipts from investment income | 9 | 31 | 9 | 32
Net cash receipts from disposal of fixed assets, intangible assets and other long-term assets | 253 | 23 | 318 | 68
Net cash receipts from disposal of subsidiaries and other business units | 56 | 0 | 56 | 0
Other cash receipts relating to investing activities | 81 | 0 | 81 | 20
Total cash inflows from investing activities | 405 | 24 | 476 | 193
Cash payments to acquire fixed assets, intangible assets and other long-term assets | 1,268 | 647 | 3,330 | 2,803
Cash payments for investments | 5 | 0 | 5 | 0
Total cash outflows from investing activities | 1,273 | 647 | 3,335 | 2,803
Net cash flows from investing activities | (868) | (623) | (2,859) | (2,610)
CONSOLIDATED CASH FLOW STATEMENT (CONTINUED) (Audited) (RMB in millions, except share data)
_____ | Three months ended Dec 31, 2020 | Three months ended Dec 31, 2019 | Year ended Dec 31, 2020 | Year ended Dec 31, 2019
CASH FLOWS FROM FINANCING ACTIVITIES
Cash receipts from borrowings | 5,775 | 3,437 | 15,725 | 14,280
Other cash receipts relating to financing activities | 0 | 238 | 0 | 2,118
Total cash inflows from financing activities | 5,775 | 3,675 | 15,725 | 16,398
Cash repayments for debts | 5,738 | 4,687 | 16,190 | 17,300
Cash payments for distribution of dividends or profit and interest expenses | 189 | 57 | 614 | 726
Including: Dividends or profit paid to non-controlling shareholders of subsidiaries | 3 | 0 | 3 | 0
Other cash payments relating to financing activities | 676 | 545 | 1,167 | 1,311
Total cash outflows from financing activities | 6,603 | 5,289 | 17,971 | 19,337
Net cash flows from financing activities | (828) | (1,614) | (2,246) | (2,939)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | 4 | (10) | (29) | 33
NET INCREASE IN CASH AND CASH EQUIVALENTS | 111 | (433) | 301 | (2,340)
Add: Cash and cash equivalents at beginning of period | 2,056 | 2,299 | 1,866 | 4,206
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 2,167 | 1,866 | 2,167 | 1,866
Logo - https://mma.prnewswire.com/media/1498784/JCET_Logo.jpg
(PRNewsfoto/JCET Group)
Source: JCET Group
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