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公司公告

苏威孚B:2017年第三季度报告正文(英文版)2017-10-26  

						Stock Code: 000581, 200581                                         Notice No.: 2017-022
Short Form of the Stock: Weifu High-Tech, Su Weifu-B

         WEIFU HIGH-TECHNOLOGY GROUP CO., LTD.

                                     TEXT of 3Q REPORT 2017




                                      Section I. Important Notes

Board of Directors and the Supervisory Committee of Weifu High-Technology
Group Co., Ltd. (hereinafter referred to as the Company) and its directors,
supervisors and senior executives hereby confirm that there are no any fictitious
statements, misleading statements, or important omissions carried in this report,
and shall take all responsibilities, individual and/or joint, for the reality,
accuracy and completion of the whole contents.
All directors of the Company are attended the Meeting for quarterly report
deliberation.
Chen Xuejun, Principal of the Company; Ou Jianbin, Person in Charge of
Accounting Work; Ou Jianbin, Person in Charge of Accounting Organization
(Accounting Officer) hereby confirm that the Financial Report of the Third
Quarterly Report is authentic, accurate and complete.
                            Section II. Basic information of Company

I. Main accounting data and index

Whether it has retroactive adjustment or re-statement on previous accounting data or not

□Yes √No

                                                Current period-end          Period-end of last year             Increase/decrease

Total assets(RMB)                                   18,875,841,570.78              17,263,771,897.78                                9.34%

Net assets attributable to shareholders
                                                    14,127,826,625.83              12,927,344,292.47                                9.29%
of listed company (RMB)

                                                                  Increase/decrease in                              Increase/decrease in
                                                                   comparison with       Year-begin to end of         comparison with
                                              Current period
                                                                  same period of last         the Period               year-begin to
                                                                         year                                      Period-end of last year

Operating revenue (RMB)                       1,832,997,683.30                  20.36%       6,561,123,282.32                     34.19%

Net profit attributable to shareholders of
                                                527,771,783.49                  44.15%       1,853,693,813.05                     41.54%
the listed company (RMB)

Net profit attributable to shareholders of
the listed company after deducting              481,368,893.14                  56.71%       1,689,633,181.95                     48.63%
non-recurring gains and losses(RMB)

Net cash flow arising from operating
                                                    --                     --                  455,662,695.70                     82.95%
activities(RMB)

Basic earnings per share (RMB/Share)                       0.53                 47.22%                      1.84                  41.54%

Diluted earnings per share (RMB/Share)                     0.53                 47.22%                      1.84                  41.54%

Weighted average ROE                                      3.81%                 0.83%                  13.67%                       2.97%

Items and amount of extraordinary profit (gains)/losses
√Applicable      □Not applicable
                                                                                                                                   In RMB

                                                                                              Amount from year-begin
                                             Item                                                                               Note
                                                                                                to end of the Period

Gains/losses from the disposal of non-current asset (including the write-off that accrued
                                                                                                            -2,685,459.96
for impairment of assets)

Governmental subsidy reckoned into current gains/losses (not including the subsidy
enjoyed in quota or ration according to national standards, which are closely relevant to                   26,325,334.92
enterprise’s business)

Gains/losses from entrusted investment or assets management                                                141,966,976.58

                                                                                                                                             2
Except for effective hedge business relevant to normal operation of the Company, gains
and losses arising from fair value change of tradable financial assets and tradable
                                                                                                             24,625,516.88
financial liabilities, and investment income from disposal of tradable financial assets,
tradable financial liabilities and financial assets available for sale

Restoring of receivable impairment provision that tested individually                                          1,208,025.21

Other non-operating income and expenditure except for the aforementioned items                                 3,381,875.70

Less: impact on income tax                                                                                   29,274,729.38

        Impact on minority shareholders’ equity (post-tax)                                                    1,486,908.85

Total                                                                                                       164,060,631.10         --

Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Extraordinary Profit/loss, explain reasons
□ Applicable      √ Not applicable
In reporting period, the Company has no particular about items defined as recurring profit (gain)/loss according to the lists of
extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to
the Public --- Extraordinary Profit/loss.


II. Statement of the total shareholders and shares-held of top ten shareholders at end of the
Period

1. Common and preferred stockholders with voting rights recover and the top ten share-holding

                                                                                                                                   In Share

Total common shareholders at the                                           Total preferred stockholders with voting rights
                                                                  59,542                                                                    0
end of report period                                                       recover at the end of report period (if applicable)

                                                           Top ten shareholders

                                                                                                                        Number of share
                                                                           Proportion                   Amount of
                                                          Nature of                     Amount of                        pledged/frozen
                    Shareholders                                           of shares                    restricted
                                                        shareholder                     shares held                     State of   Amoun
                                                                              held                     shares held
                                                                                                                         share          t

WUXI INDUSTRY DEVELOPMENT GROUP                         State-owned
                                                                              20.22%     204,059,398
CO., LTD.                                                 corporate

ROBERT BOSCH GMBH                                    Foreign corporate        14.16%     142,841,400
Hong Kong Securities Clearing Company Ltd.
                                                     Foreign corporate         2.75%      27,779,755
(HKSCC)

Kangjian Assets Management Company
                                                     Foreign corporate         1.53%      15,409,392
–Client’s fund

BBH BOS S/A FIDELITY FD - CHINA                      Foreign corporate         1.46%      14,759,494


                                                                                                                                                3
FOCUS FD

                                                    State-owned
Central Huijin Investment Ltd.                                            1.27%        12,811,200
                                                     corporate

RBC EMERGING MARKETS EQUITY
                                                 Foreign corporate        0.86%         8,675,835
FUND

                                                     Domestic
Huatai Securities Co., Ltd.                      non-state-owned          0.70%         7,083,000
                                                    legal person
CCB- Fullgoal Tianbo Innovation Theme Mix
                                                       Other              0.62%         6,232,191
Securities Investment Fund

National Social Security Funds-107                     Other              0.46%         4,650,500

                                 Particular about top ten shareholders with un-restrict shares held

                                                               Amount of un-restrict                     Type of shares
                       Shareholders
                                                               common shares held                   Type                  Amount

WUXI INDUSTRY DEVELOPMENT GROUP CO., LTD.                                204,059,398 RMB common shares                    204,059,398

                                                                                        RMB common shares                 115,260,600
ROBERT BOSCH GMBH                                                        142,841,400 Domestically listed
                                                                                                                           27,580,800
                                                                                        foreign shares
Hong Kong Securities Clearing Company Ltd. (HKSCC)                        27,779,755 RMB common shares                     27,779,755

Kangjian Assets Management Company –Client’s fund                       15,409,392 RMB common shares                     15,409,392

                                                                                        Domestically listed
BBH BOS S/A FIDELITY FD - CHINA FOCUS FD                                  14,759,494                                       14,759,494
                                                                                        foreign shares

Central Huijin Investment Ltd.                                            12,811,200 RMB common shares                     12,811,200

                                                                                        Domestically listed
RBC EMERGING MARKETS EQUITY FUND                                            8,675,835                                       8,675,835
                                                                                        foreign shares

Huatai Securities Co., Ltd.                                                 7,083,000 RMB common shares                     7,083,000
CCB- Fullgoal Tianbo Innovation Theme Mix Securities
                                                                            6,232,191 RMB common shares                     6,232,191
Investment Fund

National Social Security Funds-107                                          4,650,500 RMB common shares                     4,650,500

                                                            Among the top ten shareholders, there has no associated relationship
                                                            between Wuxi Industry Development Group Co., Ltd. and other
Explanation on related relationship or concerted action shareholders, the first largest shareholder of the Company; and they do
among the abovementioned shareholders                       not belong to the consistent actionist regulated by the Management
                                                            Measure of Information Disclosure on Change of Shareholding for
                                                            Listed Company.




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Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a buy-back agreement
dealing in reporting period
□ Yes √ No
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company have no buy-back
agreement dealing in reporting period.


2. Total of shareholders with preferred stock held and the top ten shareholdings

□Applicable          √Not applicable




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                                                       无锡威孚高科技集团股份有限公司 2017 年第三季度报告正文




                                 Section III. Important events

I. Particular about major changes from items of main accounting statements and financial
indexes as well as reasons

√ Applicable □Not applicable


(I) Changes of items of balance sheet and cause analysis:
1. Monetary fund: decreased 2520.7571 million Yuan over that of beginning of the year with 63.50% down,
mainly due to more financial products are purchased in the period;
2. Account receivable: increased 407.8842 million Yuan over that of beginning of the year with 30.79%
growth, mainly due to the growth of sales in the period;
3. Account paid in advance: increased 33.0038 million Yuan over that of beginning of the year with 44.58%
growth, mainly because account paid in advance for materials etc. increased in the period;
4. Other receivable: increased 4.8011 million Yuan over that of beginning of the year with 81.27% growth,
mainly because pretty cash for business travel at period-end increased;
5. Other current assets: increased 3173.6326 million Yuan over that of beginning of the year with 165.79%
growth, mainly due to more financial products are purchased in the period;
6. Construction in progress: increased 57.4428 million Yuan over that of beginning of the year with 63.39%
growth, mainly because phase II projects in industry zone increased in the period;
7. Other non-current assets: increased 97.4827 million Yuan over that of beginning of the year with 94.95%
growth, mainly because the prepayment for projects and equipments increased;
8. Short-term loans: increased 85 million Yuan over that of beginning of the year with 56.67% growth,
mainly because bank loans increased;
9. Wages payable: decreased 73.858 million Yuan over that of beginning of the year with 32.02% down,
mainly because year-end bonuses are in the period;
10. Other payables: decreased 36.4833 million Yuan over that of beginning of the year with 37.80% down,
mainly because cash deposit payable in the period decreased;
11. Deferred income tax liability: decreased 8.5665 million Yuan over that of beginning of the year with
30.95% down, mainly because available-for-sale financial assets are sold in the period and fair value
declined;
12. Other comprehensive income: decreased 48.0717 million Yuan over that of beginning of the year with
33.22% down, mainly because available-for-sale financial assets has declined in fair value at period-end




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                                                            无锡威孚高科技集团股份有限公司 2017 年第三季度报告正文


 (II) Changes of items of income statement and cause analysis:
1. Operation revenue: increased 1671.75 million Yuan on a y-o-y basis with 34.19% up, mainly because products
sales growth with the dramatically expansion of commercial vehicle market;
2. Operation costs: increased 1260.5592 million Yuan on a y-o-y basis with 32.85% up, mainly benefit a lot from
the expansion of commercial vehicle market, main products sales of the Company growth from a year earlier;
3. Business tax and surcharge: increased 29.1091 million Yuan on a y-o-y basis with 122.37% up, mainly because
since May 2016, the property tax, land holding tax, vehicle and vessel usage tax and stamp tax are adjusted to
business tax and surcharge from “administration expenses”; and the sales growth;
4. Financial expenses: increased 9.3281 million Yuan on a y-o-y basis, mainly because loan interest and loss on
exchange increased in the period;
5. Assets impairment loss: decreased 12.4957 million Yuan on a y-o-y basis with 99.55% down, mainly because
the inventory falling price reserves are switch back for the fluctuation in raw maturely prices;
6. Investment earnings: increased 353.936 million Yuan on a y-o-y basis with 34.50% up, mainly because
equity-participation enterprise has more in profit in the period;
7. Non-operation revenue: decreased 20.1643 million Yuan on a y-o-y basis with 68.64% down, mainly because
the government grants related with routine activities in the period are re-classified to other incomes;
8. Non-operation expenditure: increased 2.2484 million Yuan on a y-o-y basis, mainly because net losses from
fixed assets disposal and local fund payment in the period increased;
9. Total profit: increased 607.3358 million Yuan on a y-o-y basis with 42% up, mainly due to the growth of profit
from main business and investment earnings in the period;
10. Income tax expense: increased 48.9326 million Yuan on a y-o-y basis with 53.37% up, mainly due to the
growth of profit in the period.


(III) Changes of items of cash flow statement and cause analysis:
1. Net cash flow arising from operation activities: increased 206.6004 million Yuan in-flow on a y-o-y basis
with 82.95% up, mainly because sales return increased from a year earlier;
2. Net cash flow arising from investment activities: decreased 857.7232 million Yuan, mainly because financial
products purchased in the period and maturity recovery declined from a year earlier.


II. Progress of significant events, their influences, and analysis and explanation of their
solutions

√ Applicable □Not applicable
1. Wholly-owned subsidiary of the Company has investment intention on industry mergers & acquisitions fund
On 31 May 2016, the Company held the 7th meeting of the 8th board of directors, to consider and approve the
resolution relating to the wholly-owned subsidiary of the Company proposing to establish industry merger &
acquisition funds. In order to accelerate the Company’s industrial upgrade and development speed, preserve


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                                                           无锡威孚高科技集团股份有限公司 2017 年第三季度报告正文


merger & acquisition projects, improve its comprehensive strength and realize development strategy, the
Company agreed with Ping’an Securities Co., Ltd. (“Ping’an Securities’ for short) in reaching for initial
cooperation plan. Weifu Auto Diesel, a wholly-owned subsidiary of the Company, proposed to cooperate with
Ping’an Ronghui which was established by Ping’an Caizhi (a wholly-owned subsidiary of Ping’an Securities) to
establish business merger & acquisition funds. The relevant announcement (No. 2016-015) was published on
China Securities, Securities Times, Hong Kong Commercial Daily and Juchao Information website
(http://www.cninfo.com.cn). Till now, this matter is being prepared.
2. Proposed application for listing in the national middle and small enterprises stock transfer system by the
controlling subsidiary Weifu Tianli
On 25 October 2016, the 8th board of directors of the Company held the 9th meeting to consider and approve the
proposal relating to proposed application for listing in the national middle and small enterprises stock transfer
system by the controlling subsidiary Ningbo Weifu Tianli Supercharging Technique Co., Ltd. on 30 December
2016, Weifu Tianli was served with the notice of acceptance from the National Middle and Small Enterprise Stock
Transfer System Company Limited (GP2016120120). The relevant announcements (No.: 2016-023 and 2017-001)
were published on China Securities Journal, Securities Times, Hong Kong Commercial Daily and Juchao
Information Website (http://www.cninfo.com.cn). At the current stage, this matter is in the progress of
consideration and approval.
3. Parts of the joint-stock enterprise’s equity held by the Company freeze
On March 6, 2017, the company received the civil ruling No.(2016)Y03MC2490 and No.(2016) Y03MC2492
from Shenzhen Intermediate People's Court about the dispute case that the plaintiff applicant China Cinda Asset
Management Co., Ltd. Shenzhen Branch (hereinafter referred to as “Cinda Company”) appealed the respondent
Weifu High Technology and other seven respondents and the shareholders of the third party Hejun Company
damaged the interests of corporate creditors, which adopted the mandatory measures to freeze the assets with
value of RMB 217 million under the name of the Company and other seven respondents and Hejun Company.
Freeze 4.71 million shares of Miracle Logistics and 15.3 million shares of SDEC held by the company. The
relevant announcements (No.: 2017-002) were published on China Securities Journal, Securities Times, Hong
Kong Commercial Daily and Juchao Information Website (http://www.cninfo.com.cn).
This litigation will not affect the company’s daily operating activities for the time being. The company has
engaged professional lawyers to strive to properly handle and resolve the litigation and the frozen stock equity as
soon as possible through normal and legal approaches and protect the legitimate rights and interests of the
company according to law.
(1) By the company’s application for reconsideration, Shenzhen Intermediate People's Court deemed the total
assets that Cinda Company applied for preservation to be RMB 217,027,697.23. The total value of 15.3 million
shares of SDEC Stock and 4.71 million shares of Miracle Logistics held by the company has exceeded the total
assets that Cinda Company applied for preservation, therefore, 3,560,898 shares of SDEC Stock held by the
company was unfrozen. Up to the end of the reporting period, the company’s frozen assets were as follows: 4.71
million shares of Miracles Logistics held by the company and its fruits, and 11,739,102 shares of SDEC Stock
held by the company and its fruits. At present, this litigation is in the first instance (First trial on 24 September


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                                                                         无锡威孚高科技集团股份有限公司 2017 年第三季度报告正文


2017, and further session to be advised from the Court).
(2) The company has applied to Futian People's Court of Shenzhen for compulsory liquidation with Hejun
Company, the Court placed on file and will open a court session on 27 October 2017.
4. Wholly-owned subsidiary consolidation by merger
On 25 July 2017, the first extraordinary shareholders general meeting of 2017 held for deliberated and approved
the proposal of a w holly-owned subsidiary consolidation by merger. According to the operation development
requirements, and further optimized the management structure and governance structure, to simplify internal
accounting, reducing management costs, integrated business resources and improve operation efficiency, the
Company consolidated Wuxi Weifu Automotive Diesel System Co., Ltd. by merger. The relevant announcements
(No.: 2017-017 and No.: 2017-020) were published on China Securities Journal, Securities Times, Hong Kong
Commercial Daily and Juchao Information Website (http://www.cninfo.com.cn). Relevant works still in progress.

                       Overview                              Disclosure date                Query index for interim notice

Notice of Planning of Setting Up Industrial Merger &                           (Notice No. 2016-015) Published on Juchao Website
                                                            2016-06-02
 Acquisition Fund by Wholly-owned Subsidiary                                   (www.cninfo.com.cn)

                                                                               (Notice No. 2016-023) Published on Juchao Website
Proposed application for listing in the national middle 2016-10-27
                                                                               (www.cninfo.com.cn)
and small enterprises stock transfer system by the
controlling subsidiary Weifu Tianli                                            (Notice No. 2017-001) Published on Juchao Website
                                                            2017-01-07
                                                                               (www.cninfo.com.cn)

Parts of the joint-stock enterprise’s equity held by the                      (Notice No. 2017-002) Published on Juchao Website
                                                            2017-03-08
Company freeze                                                                 (www.cninfo.com.cn)

                                                                               (Notice No. 2017-017) Published on Juchao Website
                                                            2017-07-06
                                                                               (www.cninfo.com.cn)
Wholly-owned subsidiary consolidation by merger
                                                                               (Notice No. 2017-020) Published on Juchao Website
                                                            2017-07-26
                                                                               (www.cninfo.com.cn)


III. Commitments that the company, shareholders, actual controller, offeror, directors,
supervisors, senior management or other related parties have fulfilled during the reporting
period and have not yet fulfilled by the end of reporting period

□ Applicable √ Not applicable

There are no commitments that the company, shareholders, actual controller, offeror, directors, supervisors, senior management or

other related parties have fulfilled during the reporting period and have not yet fulfilled by the end of reporting period.


IV. Estimation of operation performance for year of 2017

Estimation of accumulative net profit from the beginning of the year to the end of next report period to be loss probably or the
warning of its material change compared with the corresponding period of the last year and explanation of reason
□Applicable           √Not applicable




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                                                                            无锡威孚高科技集团股份有限公司 2017 年第三季度报告正文


V. Particular about security investment

√ Applicable             □Not applicable
                                                                                                                                        In RMB

                                                        Book Changes
                                                                                         Curre             Profit
                                            Account value at      in fair                                            Book
 Variety                 Short                                              Cumulativ     nt              and loss
           Code of            Initial  ing     the   value of                    Current         value at           Sourc
   of                form of                                  e fair value purch          in the          Accountin
          securiti           investm measure beginni   the                        sales          the end             e of
securitie          securitie ent cost                         changes in ase             Reporti          g subject
            es                        ment    ng of current                      amount           of the            stock
   s                  s                                          equity amou                ng
                                      model    the    profit                                      period
                                                                            nt           Period
                                             period and loss

Domesti                                                                                                                     Financial
                                            Measure
c and                            199,208                293,694 -38,709, 63,041,737              53,860, -38,173, 202,878 assets        Own
           600841 SDEC                      d by fair
foreign                           ,000.00               ,000.00   000.00           .51           000.00    500.00 ,000.00 available     funds
                                            value
stocks                                                                                                                      for sales

Domesti                                                                                                                     Financial
                     Miracle                Measure
c and                             69,331,               68,153, 6,499,8 33,609,382                        6,735,3 74,653, assets        Own
           002009 Logistic                  d by fair
foreign                            500.00                700.00     00.00          .50                      00.00    500.00 available   funds
                     s                      value
stocks                                                                                                                      for sales

                                 268,539                361,847 -32,209, 96,651,120              53,860, -31,438, 277,531
Total                                          --                                         0.00                                   --       --
                                  ,500.00               ,700.00   200.00           .01           000.00    200.00 ,500.00

Disclosure date of               2012-03-24
securities investment
                                 2013-06-04
approval from the Board


VI. Particulars about derivatives investment

□ Applicable    √ Not applicable
The Company had no derivatives investment in Period.


VII. Registration form of receiving research, communication and interview in the report
period

√ Applicable        □Not applicable

                                      Type of
         Date             Method                                              Index for the interview and research
                                     investors

Form 1 July to 30 Written                        The Company answered 59 questions for investors online through the investor relations
                                     Other
September 2017        inquiry                    interactive platform(http://irm.p5w.net/dqhd/sichuan/)

                      Telephone
Form 1 July to 30                                Basic condition of the Company and views on market in 2017, communication with
                      communicat Other
September 2017                                   investors by telephone more than 50
                      ion


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                                                                    无锡威孚高科技集团股份有限公司 2017 年第三季度报告正文


VIII. External security against the rules

□ Applicable     √ Not applicable
The Company has no external security against the rules in the Period


IX. Controlling shareholders' and its related party's non-business capital occupying of the
listed company

□ Applicable     √ Not applicable
There are no controlling shareholders' and its related party's non-business capital occupying of the listed company.


X. Fulfill the precise social responsibility for poverty alleviation

The Company has no precise social responsibility for poverty alleviation in the period and has no follow-up plan either.




                                                                                    Board of Directors of
                                                                           Weifu High-Technology Group Co., Ltd.
                                                                                      26 October 2017




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