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1、Joyoung Co., Ltd. Interim Report of the First Quarter 2022 1 Ticker: 002242 Stock Abbreviation: Joyoung Joyoung Co., Ltd. Interim Report of the First Quarter 2022 The Company and all members of the Board of Directors have guaranteed that the information disclosed is true, accurate and complete, and
2、contains no false record, misleading statements or material omissions. Imporant Notice: Board of Directors, the Supervisory Committee as well as all the directors, supervisors and senior management staff of Joyoung Co., Ltd. (hereinafter referred to as the “Company”) have guaranteed that this Report
3、 contains no false record, misleading statement or material omission and shall be jointly and severally liable for the factuality, accuracy and completeness of the information given in this Report. Ningning YANG, CEO of the company; Jiangang KAN, CFO of the company, and Wen GUO, Chief Accountant of
4、Accounting Institution, declared that the quarterly financial statements should be true, accurate and complete. Whether the first quarterly report was audited Yes No I. Key Financial Data 1.Key Accounting Data and Financial Indicators Whether the Company performed a retroactive adjustment to or rest
5、atement of accounting data Yes No From 1 January 2022 to 31 March 2022 From 1 January 2021 to 31 March 2021 YoY Change Operating revenue (RMB) 2,328,527,536.97 2,242,694,899.52 3.83% Net Profit attributable to shareholders of the Company (RMB) 166,241,068.10 180,103,795.09 -7.70% Net profit attribut
6、able to shareholders of the Company before non-recurring gains and losses (RMB) 157,259,318.46 161,576,890.20 -2.67% Net cash flows from operating activities (RMB) 495,669,740.10 -179,932,954.23 375.47% Basic earnings per share (RMB / share) 0.22 0.24 -8.33% Diluted earnings per share (RMB / share)
7、0.22 0.23 -4.35% Weighted average return on net assets 3.83% 4.12% Decreased by 0.29 percent point 31 March 2022 31 December 2021 Flux Total assets (RMB) 8,429,014,890.21 8,516,380,670.95 -1.03% Net assets attributable to shareholders of the Company (RMB) 4,426,827,142.84 4,263,662,880.72 3.83% 2. N
8、on-recurring gain and loss items and amounts thereof Unit: RMB Item From 1 January 2022 to 31 March 2022 Note Joyoung Co., Ltd. Interim Report of the First Quarter 2022 2 Profit or loss from disposal of non-current assets (including the write-off of the provision for impairment of assets) 107,347.34
9、 Government grants included in the current profit or loss (that is closely related to the operations of the Company, except for those of fixed quotas or amounts according to the nationally unified standards) 4,119,272.58 Gains or losses from changes in fair value arising from the holding of trading
10、financial assets, derivative financial assets, trading financial liabilities and derivative financial liabilities and investment income from the disposal of trading financial assets, derivative financial assets, trading financial liabilities, derivative financial liabilities and other debt investmen
11、ts, excluding the effective hedging business related to the Companys normal business operations 5,267,590.01 Other non-operating income or expenses except the above items 1,859,142.82 Less: Impact of income taxes 2,286,402.68 Impact of minority interests (after tax) 85,200.43 Total 8,981,749.64 - De
12、tails of other profit and loss items that meet the definition of non-recurring profit or loss Applicable Not applicable Not Applicable to the Company. For non-recurring profit or loss items defined by the Company according to the definitions under the Interpretative Announcement on Information Discl
13、osure of Companies Offering Securities to the Public No. 1 Non-recurring Profit or Loss and the non-recurring profit or loss items listed in the Interpretative Announcement on Information Disclosure of Companies Offering Securities to the Public No. 1 Non-recurring Profit or Loss that have been defi
14、ned as recurring profit or loss items by the Company, please provide the reasons Applicable Not applicable Not Applicable to the Company. 3. Major Changes of Main Items in Financial Statements and Financial Indicators within the Report Period, as well as the Reasons for the Changes Item 31 March 202
15、2 31 December 2021 Flux Notes Receivables financing 193,437,198.88 435,489,591.31 -55.58% Mainly due to the endorsement of notes receivable in the period-end. Prepaid expense 86,625,375.30 21,200,512.71 308.60% Mainly due to prepayments to suppliers to secure the price of materials in the reporting
16、period. Other Accounts Receivables 68,103,812.07 30,856,543.13 120.71% Mainly due to unreceived revenue from other operating sections. Other Current Liabilities 93,993,487.44 137,330,241.41 -31.56% Mainly due to the decrease in retained VAT. Long-term prepaid expenses 704,893.60 2,161,827.36 -67.39%
17、 Mainly due to amortization of prepaid expenses this period. Trading Financial Liabilities 893,981.85 419,546.39 113.08% Mainly due to the decline in foreign exchange forward valuation this period. Notes Payable 2,071,386,468.89 1,349,089,944.76 53.54% Mainly due to the increase of notes payable iss
18、ued in the reporting period. Accounts Payable 1,301,098,517.87 2,079,168,330.26 -37.42% Mainly due to payments to suppliers. Payroll payable 20,736,635.72 168,514,322.91 -87.69% Mainly due to the yearly bonus payment Tax payable 62,339,038.06 118,088,912.25 -47.21% Mainly due to tax paid this period
19、 Lease liabilities 15,580,543.51 22,501,272.82 -30.76% Mainly due to the decrease in rent payable. Item From 1 January 2022 to 31 March 2022 From 1 January 2021 to 31 March 2021 Flux Notes Taxes and surcharges 7,637,733.84 11,071,089.84 -31.01% Mainly due to the decrease in VAT paid. Investment Inco
20、me 14,890,821.06 36,398,003.08 -59.09% Mainly due to the decrease in wealth management income and investment income from associated companies. Gains/(Losses) on changes in fair value -2,493,895.04 473,471.91 -626.73% Mainly due to change in fair value of fund. Asset Impairment Loss -5,141,480.04 -7,
21、926,953.08 35.14% Mainly due to decrease in inventory and decrease in related recognized impairment loss. Joyoung Co., Ltd. Interim Report of the First Quarter 2022 3 Non-operating Income 802,073.08 1,522,071.67 -47.30% Mainly due to decrease in penalty and confiscatory income. Non-operating Expense
22、s 789,449.76 2,859,266.77 -72.39% Mainly due to decrease in donation expenses. Refund of taxes and surcharges 69,849,205.75 100.00% Mainly due to tax refund received this period. Cash received from operating activities 109,601,494.16 55,864,365.17 96.19% Mainly due to the recovery of the note deposi
23、t during the period. Cash received from disposal of investments 3,988,500.00 600,000.00 564.75% Mainly due to the recovery of equity investment in the current period. Net cash from disposal of fixed assets, intangible assets and recovery of other long-term assets 355,848.48 269,259.44 32.16% Mainly
24、due to increase in cash received from asset disposal. Cash received relating to other investing activities 253,999,999.95 641,100,000.00 -60.38% Mainly due to the decrease of recovery of wealth management and structured deposits. Cash paid to acquire investments 21,000,000.00 -100.00% Mainly due to
25、the purchase of equity instruments in the prior period, but not in the current period. Cash paid relating to other investing activities 328,000,000.00 1,176,000,000.00 -72.11% Mainly due to purchase of financial products and structured deposits during the period. Cash received from capital contribut
26、ions 24,500,000.00 -100.00% Mainly due to capital received by SharkNinja JV(China) from minority shareholders in 2021 Q1. Cash payments relating to other financing activities 4,199,845.36 100.00% Mainly due to the increase in lease expenses for the period. II. Shareholders and Shares 1) Total number
27、 of common shareholders and number of preferred shareholders whose voting rights were restored, shareholdings of the top ten common shareholders at the period-end Unit: share Total number of common shareholders at the end of the Reporting Period 42,257 Total number of preferred shareholders with res
28、umed voting rights at the end of the Reporting Period (if any) 0 Top 10 common shareholders Name of shareholder Nature of shareholder Shareholding percentage Total shares held at the period-end Number of restricted shares held Pledged or frozen shares Status Number Shanghai Lihong Enterprise Managem
29、ent Limited Domestic non-state-owned corporation 50.13% 384,523,746 pledged 307,618,897 BILTING DEVELOPMENTS LIMITED Foreign corporation 16.94% 129,924,090 pledged 103,939,172 Hong Kong Securities Clearing Co., Ltd. Foreign corporation 10.44% 80,062,022 Central Huijin Investment Ltd. State-owned cor
30、poration 1.46% 11,201,233 Basic Pension Insurance Fund Portfolio No. 1001 Others 0.72% 5,501,435 China Merchants Bank-Shaanxi Coal Industry Company Limited-Shaanxi Coal Rosefinch New Economy Industry Single Asset Management Plan Others 0.42% 3,210,845 China Merchants Bank-Rosefinch Hengxin One-Year
31、Holding Hybrid Securities Investment Fund Others 0.28% 2,181,005 China Merchants Bank-Rosefinch Industry Best Choice Hybrid Securities Investment Fund Others 0.27% 2,044,463 National Social Security Fund Portfolio No. 1001 Others 0.25% 1,940,292 Industrial and Commercial Bank of China- Fullgoal Stab
32、le Enhanced Bond Investment Fund Others 0.25% 1,895,513 Joyoung Co., Ltd. Interim Report of the First Quarter 2022 4 Top 10 non-restricted common shareholders Name of shareholder Number of non-restricted shares held Type of shares Type of shares Number Shanghai Lihong Enterprise Management Limited 3
33、84,523,746 RMB common stock 384,523,746 BILTING DEVELOPMENTS LIMITED 129,924,090 RMB common stock 129,924,090 Hong Kong Securities Clearing Co., Ltd. 80,062,022 RMB common stock 80,062,022 Central Huijin Investment Ltd. 11,201,233 RMB common stock 11,201,233 Basic Pension Insurance Fund Portfolio No
34、. 1001 5,501,435 RMB common stock 5,501,435 China Merchants Bank-Shaanxi Coal Industry Company Limited-Shaanxi Coal Rosefinch New Economy Industry Single Asset Management Plan 3,210,845 RMB common stock 3,210,845 China Merchants Bank-Rosefinch Hengxin One-Year Holding Hybrid Securities Investment Fu
35、nd 2,181,005 RMB common stock 2,181,005 China Merchants Bank-Rosefinch Industry Best Choice Hybrid Securities Investment Fund 2,044,463 RMB common stock 2,044,463 National Social Security Fund Portfolio No. 1001 1,940,292 RMB common stock 1,940,292 Industrial and Commercial Bank of China- Fullgoal S
36、table Enhanced Bond Investment Fund 1,895,513 RMB common stock 1,895,513 Related or acting-in-concert parties among shareholders above In April 2019, the shareholding structure of Bilting Developments Limited changed. MR. Xuning WANG, the controlling shareholder of the Company, became the controllin
37、g shareholder of Bilting Developments Limited (See Announcement No. 2019-027 of the Company on ). As a result, Shanghai Lihong Enterprise Management Co., Ltd. and Bilting Developments Limited, both controlled by Mr. Xuning WANG, are defined as acting-in-concert parties by the Administrative Measures
38、 for the Takeover of Listed Companies. Other than the aforementioned related and acting-in-concert parties, the Company is uncertain about whether there are related or acting-in-concert parties among shareholders above. Explanation on common shareholders participating in securities margin trading (i
39、f any) N/A 2) Total Number of Preferred Shareholders and TOP 10 Preferred Shareholders and Their Shareholdings Applicable Not applicable III. Other Important Matters 1.Equity distribution On March 38, 2022, the 14th Session of the Fifth Board of Directors of the Company considered and approved the p
40、roposal of profit distribution for the year 2021 as follows: a cash dividend of RMB10.0 per 10 shares (tax inclusive) to all shareholders based on the total shares of 767,017,000 as of December 31, 2021, 0 stock dividend (tax inclusive) and would not convert capital reserves into share capital. On A
41、pril 22, 2022, the Companys 2021 Annual General Meeting of Shareholders considered and approved the above proposal. 2. Pledged shares On 24 January 2022, BILTING DEVELOPMENTS LIMITED, a shareholder of the Company, registered 103,939,172 pledged shares it held with China Securities Depository and Cle
42、aring Corporation Limited as a guarantee for loans, and the Joyoung Co., Ltd. Interim Report of the First Quarter 2022 5 expiration date of the pledge is until the application for the release of the pledge. The number of pledged shares accounted for 13.55% of the total share capital of the Company.
43、3、Cancellation of part of stock options of the 2021 Stock Option Incentive Plan On 28 March 2022, the Company held the 14th Session of the Fifth Board of Directors and the 13rd Session of the Fifth Session of the Supervisory Committee and considered and approved the Proposal on Cancellation of Part
44、of the Stock Options under the 2021 Stock Option Incentive Plan. The cancellation of part of the stock options has been authorized by the First Extraordinary General Meeting of Shareholders in 2021 and does not need to be submitted to the General Meeting of the Company for consideration. A total of
45、6,954,000 stock options were required to be canceled, among which: 1）The cancellation of 1.19 million shares triggered by personal departure 12 of the incentive recipients do not have the qualification of incentive recipients as they left the Company. According to the authorization of the first extr
46、aordinary shareholders meeting of 2021, the board of directors of the company will cancel 1.19 million stock options granted to them but not yet exercised. 2）The cancellation of 5.764 million shares triggered by under-performance In view of the fact that the performance assessment target at the comp
47、any level corresponding to the first exercise period of the stock options granted for the first time under this incentive plan has not been reached, 5.764 million stock options corresponding to the first exercise period of the incentive recipients (except for the above-mentioned shares triggered by
48、personal departure) will be canceled by the company，according to the relevant provisions of the Joyoung Stock Option Incentive Plan Implementation Assessment Management Measures for 2021, Shenzhen Stock Exchange Self-regulatory Guidelines for Listed Companies No. 1 - Business Processing and 2021 Sto
49、ck Options Incentive Plan. When the above cancellation is completed, the total number of incentive recipients for the first grant of the Incentive Plan is adjusted from 107 to 95, and the number of stock options not yet exercised for the first grant is adjusted to 8.646 million. IV. Quarterly Financ
50、ial Statements 1. Financial Statements 1.1 Consolidated Balance Sheet Prepared by: Joyoung Co., Ltd. Unit: RMB Item 31 March 2022 21 December 2021 Current assets: Cash at bank and on hand 2,562,953,716.45 1,986,843,911.48 Deposit reservation for balance Lending funds Trading financial assets 496,762