Wafangdian Bearing Company Limited 2018Annual Report Abstract
Stock code：200706 Stock ID:Wazhou B Announcement No.2019-01
Wafangdian Bearing Company Limited
2018Annual Report Abstract
1. Important Notes
This abstract was derived from the annual report, the annual report issued on the Shenzhen Stock Exchange web
or other web appointed by and CSRC; details please refer to the whole annual report.
The board of directors, board of supervisors, directors, supervisors and the top management guarantee there is no
false record, misleading statement or major omission in the report, and take responsibilities for the truth, accuracy
and completeness of the contents.
Besides the following directors, all the other directors attended the Board meeting and discussed the report.
Name Post Reasons Assignee name
LiangShuang Independent director Busy work Sun Kun
Liu Yuping Independent director Busy work Wen Bo
Reminder of the qualified auditor’s opinions
Inapplicable
Preplan of Profit Distribution for Common Stock or Preplan for Capitalization of the Reserves in theReporting Period
Reviewed by the Board Meeting
The Company’s profit distribution preplan upon review and approval of this board meeting: Based on the total 402,600,000
shares, a cash dividend of RMB 0.4 (tax included) will be distributed for every 10 shares held by shareholders.
Preplan of Profit Distribution for Preferred Shares in the Reporting Period Approved by the Resolution of the Board
Meeting
Inapplicable
(2) Brief Information of the listed company
(i) Brief Information of the company
Secretary of the Board Representative of StockA ffairs
Name Sun Najuan Ke Xin
No. 1 Beigongji Street, Wafangdian City, No. 1 Beigongji Street, Wafangdian City,
Correspondence address Liaoning Province, China. Liaoning Province, China.
Consulting telephone 0411-39116369 0411-39116732
Fax 0411-39116738 0411-39116738
E-mail zwz2308＠126.com zwz2308＠126.com
(ii). Principal Businesses in the Reporting Period
The scope of operation is: manufacture and sales of bearings, bearing components mechanical equipment, bearing
maintenance and technology service, automobile parts and fittings and other related products, lease of mechanical equipment
and buildings, and inspection of bearings and other related mechanical equipment and measure instruments.
Company has strong manufacturing capability and quality assurance capabilities, extensive services in railway, automobile,
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Wafangdian Bearing Company Limited 2018Annual Report Abstract
metallurgy, mining and other industries and fields.
(iii).Main accounting date
(1) Main accounting date in the near three years
Are there any retrospective adjustments or restatement of financial information of previous year due to change of accounting
policies or correcting of accounting errors?
[V]Yes [ ] No
In RMB Yuan
2017 % 2016
2018
After
Before adjustment After adjustment Before adjustment After adjustment
adjustment
Turnover(RMB) 2,168,398,656.83 2,190,412,052.05 2,190,412,052.05 -1.00% 2,493,926,556.67 2,493,926,556.67
Net profit attributable to
shareholders of the listed 10,632,169.84 10,182,949.16 10,182,949.16 4.41% 30,872,950.22 30,872,950.22
company(Yuan)
Net profit attributable to the
shareholders of the
listed company after -8,737,823.23 -13,502,647.08 -13,502,647.08 -35.29% -57,771,828.22 -57,771,828.22
deducting ofnon-recurring
gain/loss(RMB)
Net Cash flow generated by
business operation 228,603,893.98 -2,124,819.67 -2,124,819.67 -10,858.74% 20,520,061.16 20,520,061.16
(RMB)
Basic earnings per
0.03 0.03 0.03 0.00% 0.08 0.08
share(Yuan/share)
Diluted earnings per
0.03 0.03 0.03 0.00% 0.08 0.08
share(Yuan/share)
Net return on equity(%) 0.77% 0.73% 0.73% 0.04% 2.26% 2.26%
2017 % 2016
2018 After Before
Before adjustment After adjustment
adjustment adjustment
Total Assets (RMB) 3,298,167,332.49 3,213,772,171.61 3,213,772,171.61 2.63% 3,553,947,227.09 3,553,947,227.09
Owner’s Equity Attributed to
Shareholders of Listed 1,380,023,044.55 1,385,494,874.71 1,385,494,874.71 -0.39% 1,379,337,925.55 1,379,337,925.55
Company(RMB)
“The Notice of amendment to the standard enterprise’s financial statements format” (Caikuai[2018]No.15 File) was announced by
the Ministry of Finance on June 15, 2018(hereinafter referred to as Caikuai No.15File). Due to the No.15 File, some of asset items
and liability items have been merged and some of income statements items have been separated, and “interpretation of financial
statement format for the company in 2018” was announced on September 7, 2018. Handling charge of personal income tax shall be
clearly presented under “other income”, the actual government received shall be presented under operating cashflow column when
preparing the cashflow statement regardless of asset related or income related.
The Company has prepared the financial statements in accordance with new statements format and retrospectively made adjustment
to the changes mentioned and respectively adjusted the comparing figures in accordance with financial statements presentation, No
30, accounting standards applicable in China.
(2)Financial Data Summary based on Quarters
In RMB Yuan
s nd rd th
1 Quarter 2 Quarter 3 Quarter 4 Quarter
Operating revenue 486,916,871.06 587,951,110.68 551,110,606.32 542,420,068.77
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Wafangdian Bearing Company Limited 2018Annual Report Abstract
Net profit attributable to the
1,020,973.46 2,293,006.66 2,064,511.90 5,253,677.82
Company’s shareholders
Net profit attributable to the
Company’s shareholders less 777,477.64 -610,701.80 3,573,120.89 -12,477,719.96
the non-recurring profit and loss
Net cash flows arising from
60,684,129.17 -16,477,533.94 97,809,675.37 86,587,623.38
operating activities
Whether the financial indicators or the total number of company has disclose quarterly reports, semi-annual report related
financial indicators exist significant differences
no
(iv) Shareholders and shares
(1) Information on the top 10 shareholders
Total common Total Total preference
shareholders at preference shareholders with
Total common the end of the shareholders the voting power
shareholders in withthe voting not recovered at the
6,543 month before 6,552 0 0
the reporting before the date powerrecovere end of the month
period of disclosing d at theend of before the day of
the annual the reporting disclosingthe annual
report period (if any) report
Shares held by the shareholders holding over 5% shares or the top ten shareholders
Quantity at Pledging or freezing
Shares held by the Sharesheld by the the end of Number of the
Shareholder names top ten top tensharehold the non-restricted shares Status of
shareholders ers(%) reporting held the Quantity
period shares
Wafangdian Bearing State-owned
60.61% 244,000,000 244,000,000
Group Corporation shareholder
AKTIEBOLAGET SKF Foreign shareholder 19.70% 79,300,000
BOCI SECURITIES
Foreign shareholder 1.74% 7,020,138
LIMITED
Domestic
Huang Junyue 1.53% 6,176,158
shareholder
Domestic
Hu Xiaofeng 0.47% 1,879,277
shareholder
GUOTAI JUNAN
SECURITIES(HONGK Foreign shareholder 0.36% 1,441,206
ONG) LIMITED
Domestic
Jin Yunhua 0.33% 1,311,256
shareholder
Domestic
Chen Haitao 0.19% 750,896
shareholder
Foreign private
MAN,KWAI WING 0.18% 713,101
shareholder
Domestic
Meng Qingliang 0.15% 587,584
shareholder
About the fact that a strategic investor or There was no relationship and consistent activities between the first big shareholder
ordinary corporate became one of the top and other shareholders or the top ten common stock holders; The relationship among
ten shareholders due to placement of new other shareholders, top ten circulation shareholders, top ten circulation shareholders
shares (if any) (Refer to Note 3) and other shareholders was not clear.
Explanation on associated relationship or
consistent action of the above shareholders
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Wafangdian Bearing Company Limited 2018Annual Report Abstract
（2） Total Preference Shareholders and the Shares Held by the Top 10 Preference Shareholders
Inapplicable
(3)Relationship of the property right and controlling between the Company and actual controller:
3.Discussion and analysis
(1)general information in the report peiord
In 2018, the board of directors of the company carry out the basic requirement of high quality development,
firmly grasp the historical opportunity of change, global market supply and demand in the domestic macroeconomic
uncertainty increased, the market competition is more intense and other adverse factors, adhere to improve
operation quality and product quality as the center, to the users of the products with higher cost performance
and high quality products, the full implementation of "profit growth and profits, with a high turnover efficiency
of cash flow, a reasonable return on assets" business principles, strengthen the management, seizes every market
and various development opportunities and timely adjust management strategy, Adhering to the strategy of "quality
first", the company realized the synchronous growth of scale speed and benefit index, continuously enhanced the
competitiveness of the company during the reporting period, and realized profit.
During the reporting period, the company realized operating income of RMB 2,168.4 million, which was 1.00%
lower than the previous year. Realized net profit of 10.63 million yuan, an increase of 4.41% over the previous
year; The net profit attributable to the owner of the parent company was 10.63 million yuan, an increase of 4.41%
over the previous year. By the end of 2018, the company's total assets are 3.3 billion yuan, an increase of 2.63%
over the end of the previous year, and the net assets attributable to shareholders of the listed company are
1.3 billion yuan, a decrease of 0.39% over the end of the previous year.
(2) Did there exist any significant change in the principal business in the reporting period
No
(3) Products taking over 10% of the Operating Revenue or Operating Profit
Year-on-year year-on-year Year-on-year
Operating Operating Gross increase/decrease of increase/decrease of increase/decrease
revenue profit profit rate operating revenue operating profit over of gross profit rate
over the previous the previous year over the previous
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Wafangdian Bearing Company Limited 2018Annual Report Abstract
year year
Export 293,027,890.14 30,373,752.30 10.37% 25.19% 6.18% -1.86%
1,524,108,221.7
Domestic 236,987,214.80 15.55% -4.16% -6.08% -0.32%
2
Among
them:traffi 456,109,746.33 43,466,193.30 9.53% -13.68% -42.23% -4.71%
c bearing
specialbea
451,495,303.58 59,800,229.50 13.24% -9.39% -13.21% -0.58%
ring
General
616,503,171.81 133,720,792.00 21.69% 9.37% 23.63% 2.50%
bearing
(4)Did there exist seasonal or periodic characteristics necessary to pay special attention to
No.
(5)Note to operating revenue, operation cost or total profit attributable to the Company’s common
shareholders in the reporting period or composition of significant change in the previous reporting
period
Inapplicable
(6)Potential suspension and delisting
Inapplicable
(7). Matters concerning the Financial Report
(i) Note to the change in the accounting policy, accounting estimate and accounting method in
comparison with the financial report of the previous year
Important accounting policy changes
On June 15, 2018, the ministry of finance issued the "notice on the revision and issuance of the format
of general corporate financial statements for 2018" (No. [2018] 15), which revised the format of general corporate
financial statements, merged some balance sheet items and split some income statement items. And on September
7, 2018, issued a "about the 2018 annual general interpretation of corporate financial statements format concerned
issue", definitely require withholding individual income tax return fees in the "other income" presentation,
actually received government subsidies, both related to assets and related to earnings, are when prepare a
statement of cash flows as operating activities generated cash flow statements, etc.
The group has prepared financial statements in accordance with the requirements of the new corporate
financial statement format. If the items listed in the financial statements are changed as a result, the group
has adjusted the comparative data during the comparable period in accordance with the relevant provisions of
accounting standards for business enterprises no. 30 - presentation of financial statements.
The impact on items and amounts presented in the financial statements during the comparable period is as
follows:
Items Figure prior to Effect on amount Restated figure on memo
December
31,2017 January 1,2018
Notes receivable 209,923,835.91 -209,923,835.91 -
1,128,338,013.6
Accounts receivable -1,128,338,013.69 -
9
Notes receivable &
1,338,261,849.60 1,338,261,849.60
Accounts receivable
Other receivable 21,895,381.98 - 21,895,381.98
Notes payable 299,483,279.00 -299,483,279.00 -
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Wafangdian Bearing Company Limited 2018Annual Report Abstract
Accounts payable 630,832,287.45 -630,832,287.45 -
Notes payable &Accounts
930,315,566.45 930,315,566.45
payable
Interest payable 1,190,100.00 -1,190,100.00 -
Other payable 92,123,093.92 1,190,100.00 93,313,193.92
Special payables 296,698.98 -296,698.98
Long term payable 1,597,305.72 296,698.98 1,894,004.70
Administration 4,065,054.17 -4,065,054.17
R&D expense 4,065,054.17 4,065,054.17
(ii) Note to the situation that it is necessary to make retrospective restatement to order to correct the
serious accounting errors in the reporting period
Inapplicable
(iii) Note to the change of the scope of the consolidated statements in comparison with the previous
year.
Inapplicable
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