Wafangdian Bearing Compnay Limited The Q1 Report for 2021
Stock code: 200706 stock short form: Wazhou B Report code: 2021-12
Wafangdian Bearing Company Limited
The Q1 Report for 2021
§1 Important Notes
The Board of Directors, Board of Supervisors, directors, supervisors, and top management of the Company hereby
guaranteed that there are no false records, misleading statements, and major omits in this report, and assumed the individual
and associated responsibilities for the truth, accuracy and completeness of the contents.
All directors attended the Board meeting and discussed the report.
Chairman of the Board Mr. Liu Jun, Financial manager Ms.Sun Najuan, Accounting charger Ms.Zhang Yajing hereby
confirms that the Financial Report of the quarterly report is true and complete.
§2 Company's basic situation
I .Major accounting data and financial indexes
Whether the company needs to retroactively adjust or restate previous accounting data
Applicable Inapplicable
Unit: RMB yuan
Jan-Mar 2021 Jan-Mar 2020 +/- to previous
Operating income(Yuan) 413,507,921.87 393,595,783.19 5.06%
Net profits attributed Shareholders(Yuan) 2,486,349.89 3,564,162.27 -30.24%
Net profit (yuan) deducting non-recurring gains
and losses attributable to shareholders of the 2,242,469.73 3,086,300.14 -27.34%
listed company
Net cash flows from operation activities -27,699,435.57 18,583,796.31 -249.05%
Basic gains on per share 0.01 0.01 0.00%
Diluted gains on per share 0.01 0.01 0.00%
Weighted average return on equity(yuan) 0.30% 0.29% 0.01%
2021.3.31 2020.3.31 +/- to previous
Total assets(yuan) 3,125,828,611.91 3,133,942,842.94 -0.26%
Owners’ equity (shareholders’ equity)(yuan) 816,491,476.42 814,004,967.89 0.31%
Items of non-recurring gains and losses
Applicable □ Inapplicable
Unit: RMB yuan
Amount from the beginning
Items of the year to the end of the Note
reporting period
Non-current assets disposal of profits and losses(Including the offset part
-1,007,067.07
of the provision for assets impairment provision)
Gains and losses included in the current period of government subsidies,
excluding those government grants which are closely related to normal
1,212,169.22
business and in line with national policy, or in accordance with fixed
standards or quantities
Profit of loss from debts restructuring 594,244.41
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Wafangdian Bearing Compnay Limited The Q1 Report for 2021
In addition to the normal business of the company effective
hedging related business, tradable financial assets, derivative
financial assets, tradable financial liabilities, changes in the fair
value of the derivative financial liabilities to generate profits and 13,867.66
losses, as well as the disposal of tradable financial assets,
derivative financial assets, tradable financial liabilities, derivative
financial liabilities and other creditor's rights investment returns
Other non-business income and expenditures other than the above -526,296.38
Influenced amount of income tax 43,037.68
Total 243,880.16 --
For the company according to the "Company Information Disclosure of Securities for Public Issuance Explanatory Announcement No. 1 -
Non-Recurring Profit and Loss "define non-recurring gains and losses as defined in the project, and put the "company information disclosure of
securities for public issuance explanatory announcement No. 1 - non-recurring profit and loss of non-recurring profit and loss items "defined as
listed in the current profits and losses of the project, should be explained the reasons.
Applicable Inapplicable
During the reporting period of the company, there is no circumstance that the non-recurring profit and loss items listed in the explanatory notice no.
1 -- non-recurring profit and loss of the company information disclosure of publicly issued securities are defined as recurring profit and loss items.
II .Total number of shareholders at the end of the report period and shares held by the top ten shareholders
1、Table of the total number of common shareholders and the number of preferred shareholders and the
shareholding status of the top 10 shareholders
Unit:: Share
Total number of shareholder at the end Total number of shareholder at the end of report
5,896 0
of report period period with preferred stock (if any)
The holdings of the top 10 shareholders
Impawned or Frozen Shares
Total shares Non-current
Name Nature Ratio
held shares held
Status Amount
Wafangdian
State-owned
Bearing Group 60.61% 244,000,000 244,000,000
shareholder
Corporation
AKTIEBOLAGET Foreign
19.70% 79,300,000
SKF shareholder
China Merchants
State-owned
Securities Hong 1.86% 7,480,691
shareholder
Kong Limitied
Domestic
Huang Junyue 1.72% 6,913,668
shareholder
Domestic
Hu Xiaofeng 0.47% 1,879,277
shareholder
GUOTAI JUNAN
Foreign
SECURITIES(HON 0.34% 1,366,800
shareholder
GKONG) LIMITED
BOCI
Foreign
SECURITIES 0.33% 1,310,000
shareholder
LIMITED
Domestic
Jin Yunhua 0.19% 750,000
shareholder
Domestic
Meng Qingliang 0.18% 734,548
shareholder
MAN,KWAI Domestic
0.18% 713,101
WING 文贵荣 shareholder
Top Ten Tradable Shareholders
Name Current shares held at end of year Category of Shares
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Wafangdian Bearing Compnay Limited The Q1 Report for 2021
Categories Amount
AKTIEBOLAGET SKF 79,300,000 B 79,300,000
China Merchants Securities Hong Kong
7,480,691 B 7,480,691
Limitied
Huang Junyue 6,913,668 B 6,913,668
Hu Xiaofeng 1,879,277 B 1,879,277
GUOTAI JUNAN
1,366,800 B 1,366,800
SECURITIES(HONGKONG) LIMITED
BOCI SECURITIES LIMITED 1,310,000 B 1,310,000
Jin Yunhua 750,000 B 750,000
Meng Qingliang 734,548 B 734,548
MAN,KWAI WING 713,101 B 713,101
Zhou Lin 575,100 B 575,100
Explanation for the Affiliated Relations or
United Action of the Top Ten There was no relationship and consistent activities between the first big shareholder and other
shareholders or the top ten common stock holders; The relationship among other shareholders, top ten
Shareholders and the Top Ten Tradable circulation shareholders, top ten circulation shareholders and other shareholders was not clear.
Shareholders
Whether the top 10 common shareholders of the company and the top 10 common shareholders of the company with unlimited
conditions of sale shall carry out the agreed repurchase transaction during the reporting period
□ Yes √No
The top 10 common shareholders of the company and the top 10 common shareholders with unlimited conditions of sale did not
carry out the agreed repurchase transaction during the reporting period.
2. Table of the total number of preferred shareholders and the shareholding status of the top 10 preferred
shareholders
Applicable Inapplicable
§3 Significant items
1 The changes of main financial data and financial indicators in the reporting period and the reasons
√Applicable□Inapplicable
Unite:10000 yuan
Closing Opening (+/_)
Item Reasons for Change
Amount Amount Ratio
prepayments 11,054 5,377 105.6% Semi-finished products supplier an increase of 55.12 million
yuan in advance
Other receivables 203 1,420 -85.7% Travel, business activities deposit loan in this period have to
submit an expense account
inventory 83,844 61,566 36.2% Mainly finished goods are beginning an increase of 186.43
million yuan, the raw material is beginning an increase of 45.05
million yuan, semi-finished products fell 8.7 million yuan at the
beginning
Right to use assets 113 - On the basis of new lease criterion, network on rental housing
confirmation to use assets
10,175 3,946 157.9% According to the provisions of the new guidelines will advance
Contract liability payments without tax part weight classification as contract
liability, this period deferred revenue increased dramatically
Deal with the employee 2,598 5,268 -50.7% Paid in current period of provision of merit pay 23.55 million
compensation yuan
Payable taxes 927 369 151.2% VAT is beginning an increase of 658 yuan, the property tax to
reduce 900000 yuan
Other payables 7,444 12,948 -42.5% Payment to the supplier 46 million yuan
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Wafangdian Bearing Compnay Limited The Q1 Report for 2021
Other current liabilities 1,207 513 135.3% According to the provisions of the new guidelines will be
deferred revenue tax part classification for other current
liabilities, debt contract is the initial increase in other current
liabilities will increase
Lease liability 127 - On the basis of new lease criterion, network on rental housing
lease a liability
Tax and additional 445 310 43.5% Mainly attached VAT tax increases
Cost of sales 3,484 2,378 46.5% Mainly freight, poor travelling expenses from the previous
increase
Management fees 2,093 1,068 96.0% Mainly organization adjustment to current wage growth and
insurance
Research and development costs 3,144 4,623 -32.0% Current research and development projects and different lead to
the project schedule of the previous period
Non-operating income 6 225 -97.3% This fine of revenue from a year earlier
Non-business expenses 86 12 616.7% Main is fine
Profit total 249 356 -30.1% Tax and additional year-on-year increase of 1.35 million yuan.
Four cost year-on-year increase of 6.38 million yuan, operating
margin year-on-year increase of 8.96 million yuan
Other related to business activities 1,327 144 821.5% Receive customer deposit more for this issue.
of cash received
Paid to the worker and the cash to 11,039 7,281 51.6% Paid in current period of wages and insurance gold to increase
pay for the worker from a year earlier.
Pay various taxes 1,456 947 53.7% This period of pay value added tax and business tax was
increased over the same period last year.
Other related to business activities 8,455 3,229 161.8% Paid in current period customer margin in this presentation,
of cash payment balance of payments in the same item presentation over the
same period last year
Disposal of fixed assets, intangible 69 - This issue received sale of fixed assets.
assets and other long-term assets
recovery net cash
Borrow money received in cash 9,900 6,000 65.0% This short-term borrowing to increase from a year earlier.
Other related to the financing - 4,157 -100.0% In the same period last year to receive loans.
activities of cash received
Repayment of the debt to pay in 7,100 - This period to repay the loan to pay cash to increase from a
cash year earlier.
The impact of exchange rate 49 85 -42.4% Affected by currency movements.
movements of cash and cash
equivalents
2 .Progress of significant events, their influence, and analysis and explanation of their solutions
□Applicable √Inapplicable
Implementation progress of share repurchase
□Applicable √Inapplicable
Implementation progress of share buyback reduction through centralized bidding
□Applicable √Inapplicable
3.The company, shareholders, actual controller, the acquirer, directors, supervisors and senior management
personnel or other related parties to fulfill commitments and the final report has not been fulfilled in the reporting
period
□Applicable √Inapplicable
During the reporting period of the company, there are no commitments made by the actual controller, shareholders, related parties, acquirers and
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Wafangdian Bearing Compnay Limited The Q1 Report for 2021
other relevant parties of the company that have not been fulfilled within the reporting period.
4. The financial asset investment
（1）Particular about security investment
Applicable □Inapplicable
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Wafangdian Bearing Company Limited The Q1 Report for 2020
Unit: RMB Yuan
Changes in
Included in the
the fair
value at cumulative Profit and Source
The initial Accounting value of the Current Current Book value at
Types of the changes in the loss in the Accounting s of
Code abbreviations cost of measurement current purchase sold the end of the
securities beginni fair value of the reporting subjects fundin
investment model period amount amount period
ng rights and period g
profit and
interests
loss
Domestic Transaction debt-
The fair
and 60100 Chongqing iron 228,046.0
overseas 5 and steel
567,033.30 value
0
13,867.66 -325,119.64 0.00 0.00 13,867.66 241,913.66 al financial for-e
measurement assets quity
stock
228,046.0
Total 567,033.30 -- 13,867.66 -325,119.64 0.00 0.00 13,867.66 241,913.66 -- --
0
The securities investment for
examination and approval of the
board of directors announcement
date
For examination and approval of the
securities investment shareholders
announcement date (if any)
（2）Particular about derivatives
□Applicable √Inapplicable
There is no derivative investment during the reporting period.
5.Progress of investment projects with raised funds
□Applicable √Inapplicable
6.On June 1-2021 business performance
Forecast to the next reporting period at the beginning of the final cumulative net profit may be a loss or substantial change of year-on-year warning and reasons.
□Applicable √Inapplicable
7.Daily business major contracts
□Applicable √Inapplicable
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Wafangdian Bearing Company Limited The Q1 Report for 2020
8.Entrust financial management
□Applicable √Inapplicable
The report period of the company does not exist entrusted financial management.
9.Illegal external guarantee
□Applicable √Inapplicable
There is no violation of external guarantee during the reporting period.
10. Controlling shareholder and its related parties to the listing Corporation's non operating funds
□Applicable √Inapplicable
During the reporting period of the company, there is no non-operating capital occupied by the controlling shareholder or its related parties to the
listed company.
11. Activities on receiving research, communication and interview in the report period
Applicable Inapplicable
The company during the reporting period, there was no reception activities such as research, communication and interview.
§4 The financial statements
I The financial statements
1.Consolidated Balance Sheet.
Preparation unit: Wafangdian Bearing Co., LTD
Unit: RMB Yuan
Items March31, 2021 December31, 2020
Current assets ：
Monetary fund 178,423,922.63 194,152,280.08
Clearing reserves
Lending money
Trading financial assets 241,913.66 228,046.00
Derivative financial assets
Notes receivable 309,039,607.62 416,044,578.48
Accounts receivable 898,645,897.13 975,628,091.12
Receivables financing 118,399,972.13 130,600,545.59
Prepayments 110,541,917.86 53,772,465.49
Premiums receivable
Reinsurance accounts receivable
Reserve for reinsurance contracts
receivable
Other receivable 2,030,088.10 14,204,144.25
Including: Interest receivable
Dividend receivable
Buy and sell back financial assets
Inventory 838,435,783.16 615,656,946.30
Contract assets
Holding assets for sale
Non-current assets that mature
within one year
Other current assets 37,604,948.28 24,610,448.93
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Wafangdian Bearing Company Limited The Q1 Report for 2020
Total current assets 2,493,364,050.57 2,424,897,546.24
Non- current assets：
Make loans and advances
Creditor's rights investment
Other debt investments
Long-term receivables
Long-term equity investment
Investment in other equity instruments 11,926,856.64 11,926,856.64
Other non-current financial assets
Investment real estate 115,960,592.39 117,516,482.39
Fixed assets 400,481,405.17 474,109,923.22
Projects under construction 22,615,532.31 24,254,985.16
Productive biological assets
Oil and gas assets
Usage asset 1,133,261.19
Intangible assets 79,922,893.95 80,725,861.18
The development of spending
goodwill
Long-term deferred expenses 424,019.69 511,188.11
Deferred tax assets
Other non-current assets
Total non-current assets 632,464,561.34 709,045,296.70
Total assets 3,125,828,611.91 3,133,942,842.94
Current liabilities:
Short-term borrowing 698,000,000.00 670,000,000.00
Borrowing from the central bank
Funds borrowed from
Transactional financial liabilities
Derivative financial liability
Notes payable 327,753,404.76 274,654,535.65
Accounts payable 959,613,669.43 1,044,801,896.85
Advance payment
Contract liability 101,753,858.42 39,456,304.55
Sell repurchase of financial assets
Deposit taking and trade keeping
Acting to buy and sell securities
Acting to underwrite securities
Salary payable 25,984,377.76 52,677,141.09
Payable taxes 9,266,333.15 3,688,168.68
Other payables 74,442,217.02 129,476,061.47
Wherein: interest payable
Dividends payable
Handling charges and commissions
payable
Reinsurance accounts payable
Holding liabilities for sale
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Wafangdian Bearing Company Limited The Q1 Report for 2020
Non-current liabilities that mature
within one year
Other current liabilities 12,069,097.21 5,129,319.58
Total current liabilities 2,208,882,957.75 2,219,883,427.87
Non-current liabilities:
Insurance contract reserve
Long-term borrowing
Bonds payable
Wherein: preferred stock
Sustainable debt
Lease liability 1,269,918.83
Long-term payables 344,974.84 344,974.84
Pay staff on a long-term basis
Estimated debts 39,338,443.83 39,032,270.91
Deferred revenue 58,766,391.89 59,942,753.08
Deferred tax liabilities 734,448.35 734,448.35
Other non-current liabilities
Total non-current liabilities 100,454,177.74 100,054,447.18
Total liabilities 2,309,337,135.49 2,319,937,875.05
Owner's equity:
equity 402,600,000.00 402,600,000.00
Other equity instruments
Wherein: preferred stock
Sustainable debt
Capital reserves 485,691,050.47 485,691,050.47
Less: inventory stocks
Other comprehensive income
The special reserve 158.64
Surplus reserves 136,770,391.01 136,770,391.01
General risk provision
Undistributed profit -208,570,123.70 -211,056,473.59
Aggregate equity attributable to parent
816,491,476.42 814,004,967.89
company
Minority equity
Total owners' equity 816,491,476.42 814,004,967.89
Total liabilities and equity 3,125,828,611.91 3,133,942,842.94
Chairman: Liu Jun General Accountant : Sun Najuan Accounting charger: Zhang Yajing
2.Balance Sheet Of Parent Company
Unit: RMB Yuan
Items 2021.3.31 2020.12.31
Current assets:
Monetary fund 163,618,637.22 173,606,464.84
Trading financial assets 241,913.66 228,046.00
Derivative financial assets
Notes receivable 309,039,607.62 325,928,761.07
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Wafangdian Bearing Company Limited The Q1 Report for 2020
Accounts receivable 879,067,114.62 1,051,197,353.63
Receivables financing 115,420,972.13 125,606,963.37
prepayments 108,391,710.44 52,961,548.88
Other receivables 310,118,625.24 13,357,080.42
Wherein: interest receivable
Dividends receivable
inventory 511,449,549.42 472,723,348.67
Contract assets
Holding assets for sale
Non-current assets that mature within
one year
Other current assets 13,555,024.53 17,971,682.31
Total current assets 2,410,903,154.88 2,233,581,249.19
Non-current assets:
Creditor's rights investment
Other debt investments
Long-term receivables
Long-term equity investment 211,583,897.67 211,583,897.67
Investment in other equity instruments 11,926,856.64 11,926,856.64
Other non-current financial assets
Investment real estate 102,196,892.51 103,505,103.77
Fixed assets 238,667,046.29 309,847,783.81
Projects under construction 20,294,257.87 21,933,710.72
Productive biological assets
Oil and gas assets
Usage asset 1,133,261.19
Intangible assets 63,556,908.03 64,192,377.21
The development of spending
goodwill
Long-term deferred expenses 358,855.31 432,059.78
Deferred tax assets
Other non-current assets
Total non-current assets 649,717,975.51 723,421,789.60
Total assets 3,060,621,130.39 2,957,003,038.79
Current liabilities:
Short-term borrowing 698,000,000.00 670,000,000.00
Transactional financial liabilities
Derivative financial liability
Notes payable 327,753,404.76 274,654,535.65
Accounts payable 860,212,558.04 845,753,616.99
Advance payment
Contract liability 92,839,209.32 40,196,130.87
Salary payable 19,983,950.78 43,148,413.71
Payable taxes 8,991,332.16 3,395,991.46
Other payables 71,460,839.20 109,599,140.08
Wherein: interest payable
Dividends payable
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Wafangdian Bearing Company Limited The Q1 Report for 2020
Holding liabilities for sale
Non-current liabilities that mature
within one year
Other current liabilities 12,069,097.21 5,225,497.00
Total current liabilities 2,091,310,391.47 1,991,973,325.76
Non-current liabilities:
Long-term borrowing
Bonds payable
Wherein: preferred stock
Sustainable debt
Lease liability 1,269,918.83
Long-term payables 244,974.84 244,974.84
Pay staff on a long-term basis
Estimated debts 39,338,443.83 39,032,270.91
Deferred revenue 28,204,472.51 29,380,833.70
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 69,057,810.01 68,658,079.45
Total liabilities 2,160,368,201.48 2,060,631,405.21
Owner's equity:
equity 402,600,000.00 402,600,000.00
Other equity instruments
Wherein: preferred stock
Sustainable debt
Capital reserves 485,678,443.26 485,678,443.26
Less: inventory stocks
Other comprehensive income
The special reserve
Surplus reserves 136,770,391.01 136,770,391.01
Undistributed profit -124,795,905.36 -128,677,200.69
Total owners' equity 900,252,928.91 896,371,633.58
Total liabilities and equity 3,060,621,130.39 2,957,003,038.79
3. Consolidated Income Sheet.
Unit: RMB Yuan
Items Account for the current period Account for the prior period
I. total operating revenue 413,507,921.87 393,595,783.19
Among them: operating revenue 413,507,921.87 393,595,783.19
Interest income
The premium has been made
Fees and commission income
II. Total operating cost 411,850,901.15 393,178,043.74
Among them: operating cost 313,462,209.92 302,518,880.86
The interest payments
Charges and commissions
Surrender gold
Net compensation expenditure
Net provision for insurance liability
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Wafangdian Bearing Company Limited The Q1 Report for 2020
Policy dividend payment
Reinsurance expenses
Taxes and surcharges 4,447,119.85 3,104,603.99
Cost of sales 34,842,427.82 23,780,153.66
Management fees 20,929,079.57 10,675,770.39
Research and development costs 31,439,606.72 46,226,400.00
Finance charges 6,730,457.27 6,872,234.84
Including: interest expense 6,378,239.70 6,897,360.45
Interest income 60,851.11 170,761.77
Plus: other benefits 1,212,169.22 1,070,896.92
Investment gains (loss marked with "-") 870,901.15
Among them: investment income to joint
venture and joint venture
Termination recognition of financial
assets at amortized cost
Exchange gains (loss marked with "-")
Net exposure hedging income (loss
marked with "-")
Earnings from changes in fair value (loss
13,867.66 -44,684.69
marked with "-")
Credit impairment loss (loss marked with
3,756.14 -2,347.18
"-")
Impairment loss of assets (loss marked
538,655.19 -2,347.18
with "-")
Gains from asset disposal (loss marked
-1,007,067.07 0.00
with "-")
III. Operating profit (loss marked with
3,289,303.01 1,439,257.32
"-")
Plus: non-operating income 58,264.72 2,248,928.19
Less: non-operating expenses 861,217.84 124,023.24
IV. Total profit (total loss marked with
2,486,349.89 3,564,162.27
"-")
Less: income tax expense
V. net profit (net loss marked with "-") 2,486,349.89 3,564,162.27
(1) classification according to business
continuity
1. Net profit from continuing operations
2,486,349.89 3,564,162.27
(net loss marked with "-")
2. Net profit from terminated operations
(net loss marked with "-")
(2) according to the ownership
classification
1. Net profit attributable to the parent
2,486,349.89 3,564,162.27
owner
2. Minority shareholder gains and losses
VI.The net after-tax value of other
comprehensive income
The net after-tax value of other
consolidated income attributable to the
parent owner
(1) other comprehensive income that
cannot be reclassified into profit or loss
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Wafangdian Bearing Company Limited The Q1 Report for 2020
1. Reset the change amount of the benefit
plan
2. Other comprehensive income that
cannot be transferred under the equity
method
3. Changes in the fair value of other
equity instruments
4. Changes in the fair value of the
enterprise's own credit risk
5. Other
(2) other comprehensive income
reclassified into profit and loss
1. Other comprehensive income that can
be transferred under the equity method
2. Changes in the fair value of other debt
investments
3. The amount of financial assets
reclassified into other comprehensive
income
4. Provisions for impairment of other
creditor's rights investment credit
5. Cash flow hedging reserve
6. Translation of foreign currency
financial statements
7. Other
The net after-tax value of other
consolidated income attributable to
minority
VII.Total comprehensive income 2,486,349.89 3,564,162.27
Total consolidated income attributable to
2,486,349.89 3,564,162.27
the parent owner
Total aggregate income attributable to
minority shareholders
VIII. Earnings per share:
(1) basic earnings per share 0.01 0.01
(2) diluted earnings per share 0.01 0.01
Chairman: Liu Jun General Accountant : Sun Najuan Accounting charger: Zhang Yajing
4.Income Sheet of Parent Company
Unit: RMB Yuan
Items Account for the current period Account for the prior period
I. operating revenue 569,683,324.45 397,323,637.09
Less: operating costs 475,575,675.92 308,683,197.27
Taxes and surcharges 4,005,143.68 2,572,792.48
Cost of sales 33,533,312.48 23,230,686.69
Management fees 15,643,019.42 6,181,514.37
Research and development costs 30,353,865.45 46,203,000.00
Finance charges 6,744,131.93 6,953,901.58
Including: interest expense 6,378,239.70 6,897,360.45
Interest income 43,505.46 85,756.26
Plus: other benefits 1,204,799.64 940,427.69
Investment gains (loss marked with "-") 614,472.65 0.00
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Wafangdian Bearing Company Limited The Q1 Report for 2020
Among them: investment income to
joint venture and joint venture
Termination of income recognition of
financial assets measured at amortized
cost (loss marked with "-")
Net exposure hedging income (loss
marked with "-")
Earnings from changes in fair value
13,867.66 -44,684.69
(loss marked with "-")
Credit impairment loss (loss marked
-2,347.18
with "-")
Impairment loss of assets (loss marked
30,000.00 0.00
with "-")
Gains from asset disposal (loss marked
-1,007,067.07
with "-")
II. Operating profit (loss marked with
4,684,248.45 4,391,940.52
"-")
Plus: non-operating income 58,264.72 1,744,952.89
Less: non-operating expenses 861,217.84 124,023.24
III. Total profit (total loss marked with
3,881,295.33 6,012,870.17
"-")
Less: income tax expense
IV. Net profit (net loss marked with "-") 3,881,295.33 6,012,870.17
(1) net profit from continuing
3,881,295.33 6,012,870.17
operations (net loss marked with "-")
(2) net profit from terminated
operations (net loss marked with "-")
V.Net after tax of other comprehensive
income
(1) other comprehensive income that
cannot be reclassified into profit or loss
1. Reset the change amount of the
benefit plan
2. Other comprehensive income that
cannot be transferred under the equity
method
3. Changes in the fair value of other
equity instruments
4. Changes in the fair value of the
enterprise's own credit risk
5. Other
(2) other comprehensive income
reclassified into profit and loss
1. Other comprehensive income that can
be transferred under the equity method
2. Changes in the fair value of other
debt investments
3. The amount of financial assets
reclassified into other comprehensive
income
4. Provisions for impairment of other
creditor's rights investment credit
5. Cash flow hedging reserve
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Wafangdian Bearing Company Limited The Q1 Report for 2020
6. Translation of foreign currency
financial statements
7. Other
VI.Total comprehensive income 3,881,295.33 6,012,870.17
VII. Earnings per share:
(1) basic earnings per share 0.01 0.01
(2) diluted earnings per share 0.01 0.01
5.Consolidated Cash Flow Statement.
Unit: RMB Yuan
Items Account for the current period Account for the prior period
I. Cash flow generated from operating
activities:
Cash received from the sale of goods
268,684,482.92 263,901,627.18
and services
Net increase in customer deposits and
inter bank deposits
Net increase in borrowing from the
central bank
Net increase in borrowing from other
financial institutions
Cash received from the premium of the
original contract of insurance
Receipt of net reinsurance cash
Net increase in household savings and
investment funds
Cash for the collection of interest, fees
and commissions
Net increase of funds borrowed
Net increase of funds in repo business
Net cash received for the sale of
securities
Tax refunds received
To receive other cash related to
13,269,838.53 1,440,531.09
operating activities
Subtotal cash inflow from operating
281,954,321.45 265,342,158.27
activities
Cash for the purchase of goods and
100,159,217.33 132,193,729.55
services
Net increase in customer loans and
advances
Net increase in deposits of central bank
and interbank funds
Payment of the original insurance
contract in cash
A net increase in divested funds
Cash for payment of interest, fees and
commissions
Cash to pay policy dividends
Cash payments to and for employees 110,389,374.00 72,813,451.86
Taxes paid 14,556,590.53 9,466,149.14
15
Wafangdian Bearing Company Limited The Q1 Report for 2020
Payment of other cash related to
84,548,575.16 32,285,031.41
operating activities
Subtotal cash outflows from operating
309,653,757.02 246,758,361.96
activities
Net cash flow from operating activities -27,699,435.57 18,583,796.31
II. Cash flow generated by investment
activities:
Recover the cash received from the
investment
Cash received from the proceeds of an
18,821.12
investment
Net cash recovered from the disposal of
fixed assets, intangible assets and other 692,187.72
long-term assets
Dispose of the net cash received by
subsidiaries and other business units
Other cash received in connection with
investment activities
Investment activity cash inflow subtotal 711,008.84 0.00
Cash paid for the purchase and
construction of fixed assets, intangible 266,026.51 1,205,036.75
assets and other long-term assets
Cash paid for investment
Net increase in pledged loans
Net cash paid by subsidiaries and other
business units
Payment of other cash related to
investment activities
Subtotal cash outflows from investment
266,026.51 1,205,036.75
activities
Net cash flow from investment
444,982.33 -1,205,036.75
activities
III. Cash flow generated by financing
activities:
Absorb the cash received from
investment
Among them: the subsidiary absorbs the
cash received from minority
shareholders' investment
Obtain cash received on loan 99,000,000.00 60,000,000.00
Other cash received in connection with
41,567,823.29
fund-raising activities
Financing activities cash inflow subtotal 99,000,000.00 101,567,823.29
Payment of debt in cash 71,000,000.00
Cash used to pay dividends, profits, or
7,255,081.89 7,562,384.39
interest payments
Among them: the dividends and profits
paid by the subsidiary to minority
shareholders
Payment of other cash related to
42,000,000.00
financing activities
Financing activities cash outflow
78,255,081.89 7,562,384.39
subtotal
Net cash flow from financing activities 20,744,918.11 94,005,438.90
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Wafangdian Bearing Company Limited The Q1 Report for 2020
IV.The impact of exchange rate
fluctuations on cash and cash 487,647.36 847,392.08
equivalents
V.Net increase in cash and cash
-6,021,887.77 112,231,590.54
equivalents
Plus: balance of cash and cash
equivalents at the beginning of the 163,728,799.97 137,324,488.53
period
VI.Balance of ending cash and cash
157,706,912.20 249,556,079.07
equivalents
6. Cash flow statement of the parent company
unit：yuan
Items Current amount Previous amount
I. cash flow generated from operating
activities:
Cash received from the sale of goods
260,929,771.29 255,602,436.28
and services
Tax refunds received
To receive other cash related to
13,098,004.54 1,223,162.36
operating activities
Subtotal cash inflow from operating
274,027,775.83 256,825,598.64
activities
Cash for the purchase of goods and
140,988,085.18 137,824,769.98
services
Cash payments to and for employees 94,816,600.72 62,253,774.12
Taxes paid 14,102,774.51 8,291,381.30
Payment of other cash related to
46,758,027.06 30,789,581.44
operating activities
Subtotal cash outflows from operating
296,665,487.47 239,159,506.84
activities
Net cash flow from operating activities -22,637,711.64 17,666,091.80
II. Cash flow generated by investment
activities:
Recover the cash received from the
investment
Cash received from the proceeds of an
18,821.12
investment
Net cash recovered from the disposal of
fixed assets, intangible assets and other 692,187.72
long-term assets
Dispose of the net cash received by
subsidiaries and other business units
Other cash received in connection with
investment activities
Investment activity cash inflow subtotal 711,008.84 0.00
Cash paid for the purchase and
construction of fixed assets, intangible 219,126.51 218,101.00
assets and other long-term assets
Cash paid for investment
Net cash paid by subsidiaries and other
business units
Payment of other cash related to
investment activities
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Wafangdian Bearing Company Limited The Q1 Report for 2020
Subtotal cash outflows from investment
219,126.51 218,101.00
activities
Net cash flow from investment
491,882.33 -218,101.00
activities
III. Cash flow generated by financing
activities:
Absorb the cash received from
investment
Obtain cash received on loan 99,000,000.00 60,000,000.00
Other cash received in connection with
41,567,823.29
fund-raising activities
Financing activities cash inflow subtotal 99,000,000.00 101,567,823.29
Payment of debt in cash 71,000,000.00
Cash used to pay dividends, profits, or
7,255,081.89 7,562,384.39
interest payments
Payment of other cash related to
financing activities
Financing activities cash outflow
78,255,081.89 7,562,384.39
subtotal
Net cash flow from financing activities 20,744,918.11 94,005,438.90
IV.The impact of exchange rate
fluctuations on cash and cash 487,647.36 847,392.08
equivalents
V.Net increase in cash and cash
-913,263.84 112,300,821.78
equivalents
Plus: balance of cash and cash
equivalents at the beginning of the 111,467,242.63 101,216,633.47
period
VI.Balance of ending cash and cash
110,553,978.79 213,517,455.25
equivalents
II. Explanation of the adjustment of financial statements
1. For the first time since 2021, perform new lease criterion to adjust for the first time at the beginning of
the financial statements.
Applicable Inapplicable
Whether to need to adjust the balance sheet at the beginning of subjects
YES NO
Consolidated balance sheet
Items December31, 2020 January 1, 2021 Adjust the number
Current assets ：
Monetary fund 194,152,280.08 194,152,280.08
Trading financial assets 228,046.00 228,046.00
Notes receivable 416,044,578.48 416,044,578.48
Accounts receivable 975,628,091.12 975,628,091.12
Receivables financing 130,600,545.59 130,600,545.59
Prepayments 53,772,465.49 53,772,465.49
Other receivable 14,204,144.25 14,204,144.25
Inventory 615,656,946.30 615,656,946.30
Other current assets 24,610,448.93 24,610,448.93
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Wafangdian Bearing Company Limited The Q1 Report for 2020
Total current assets 2,424,897,546.24 2,424,897,546.24
Non- current assets：
Investment in other equity
11,926,856.64 11,926,856.64
instruments
Investment real estate 117,516,482.39 117,516,482.39
Fixed assets 474,109,923.22 474,109,923.22
Projects under construction 24,254,985.16 24,254,985.16
Usage asset 1,256,680.47 1,256,680.47
Intangible assets 80,725,861.18 80,725,861.18
Long-term deferred
511,188.11 511,188.11
expenses
Total non-current assets 709,045,296.70 710,301,977.17
Total assets 3,133,942,842.94 3,135,199,523.41
Current liabilities:
Short-term borrowing 670,000,000.00 670,000,000.00
Notes payable 274,654,535.65 274,654,535.65
Accounts payable 1,044,801,896.85 1,044,801,896.85
Contract liability 39,456,304.55 39,456,304.55
Salary payable 52,677,141.09 52,677,141.09
Payable taxes 3,688,168.68 3,688,168.68
Other payables 129,476,061.47 129,476,061.47
Other current liabilities 5,129,319.58 5,129,319.58
Total current liabilities 2,219,883,427.87 2,219,883,427.87
Non-current liabilities:
Lease liability 1,256,680.47 1,256,680.47
Long-term payables 344,974.84 344,974.84
Estimated debts 39,032,270.91 39,032,270.91
Deferred revenue 59,942,753.08 59,942,753.08
Deferred income tax
734,448.35 734,448.35
liabilities
Total non-current liabilities 100,054,447.18 101,311,127.65
Total liabilities 2,319,937,875.05 2,321,194,555.52
Owner's equity:
equity 402,600,000.00 402,600,000.00
Capital reserves 485,691,050.47 485,691,050.47
Surplus reserves 136,770,391.01 136,770,391.01
Undistributed profit -211,056,473.59 -211,056,473.59
Owners' equity attributable
to the parent company in 814,004,967.89 814,004,967.89
total
Total owners' equity 814,004,967.89 814,004,967.89
Total liabilities and equity 3,133,942,842.94 3,135,199,523.41
Adjustment description
New lease criterion for the chief executive policy adoption of the transition period, new lease criterion allows using two methods:
method 1 is to allow enterprises to adopt retroactive adjustment; Method 2 is the first time according to the execution of the
cumulative impact of these standards, adjust this criterion for the first time at the beginning of the retained earnings and the financial
statements of other items, do not adjust the comparable period information. At the same time, provides a number of simplified
processing arrangement method 2.
In combination with the provisions of the new lease criterion, the board of directors agreed on January 1, 2021 began to implement
new lease criterion, on policy guidelines transition by using the method 2 above, and USES the simplified treatment, i.e., the lease
19
Wafangdian Bearing Company Limited The Q1 Report for 2020
liability equals the present value of the remaining rental payment, right to use assets is equal to the lease liability amount and make
necessary adjustments. By using this method, will not affect the company's retained earnings at the beginning of 2021.
Perform new lease criterion for the company in accordance with the above provisions, the influence of the company on January 1,
2021 for all rental (choose to simplify the processing of short-term lease and low value assets lease except) confirmed to use asset
and lease liability, and confirm the depreciation and interest expense.
According to the transition policy, the company in implementing the new lease criterion when choosing simplified processing,
without adjusting retained earnings at the beginning of 2021, do not need to adjust the comparable period information.
The parent company's balance sheet.
Items December31, 2020 January 1, 2021 Adjust the number
Current assets ：
Monetary fund 173,606,464.84 173,606,464.84
Trading financial assets 228,046.00 228,046.00
Notes receivable 325,928,761.07 325,928,761.07
Accounts receivable 1,051,197,353.63 1,051,197,353.63
Receivables financing 125,606,963.37 125,606,963.37
Prepayments 52,961,548.88 52,961,548.88
Other receivable 13,357,080.42 13,357,080.42
Inventory 472,723,348.67 472,723,348.67
Other current assets 17,971,682.31 17,971,682.31
Total current assets 2,233,581,249.19 2,233,581,249.19
Non- current assets：
Long-term equity
211,583,897.67 211,583,897.67
investment
Investment in other equity
11,926,856.64 11,926,856.64
instruments
Investment real estate 103,505,103.77 103,505,103.77
Fixed assets 309,847,783.81 309,847,783.81
Projects under construction 21,933,710.72 21,933,710.72
Usage asset 1,256,680.47 1,256,680.47
Intangible assets 64,192,377.21 64,192,377.21
Long-term deferred
432,059.78 432,059.78
expenses
Total non-current assets 723,421,789.60 724,678,470.07
Total assets 2,957,003,038.79 2,958,259,719.26
Current liabilities:
Short-term borrowing 670,000,000.00 670,000,000.00
Notes payable 274,654,535.65 274,654,535.65
Accounts payable 845,753,616.99 845,753,616.99
Contract liability 40,196,130.87 40,196,130.87
Salary payable 43,148,413.71 43,148,413.71
Payable taxes 3,395,991.46 3,395,991.46
Other payables 109,599,140.08 109,599,140.08
Other current liabilities 5,225,497.00 5,225,497.00
Total current liabilities 1,991,973,325.76 1,991,973,325.76
Non-current liabilities:
Lease liability 1,256,680.47 1,256,680.47
Long-term payables 244,974.84 244,974.84
Estimated debts 39,032,270.91 39,032,270.91
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Wafangdian Bearing Company Limited The Q1 Report for 2020
Deferred revenue 29,380,833.70 29,380,833.70
Total non-current liabilities 68,658,079.45 69,914,759.92
Total liabilities 2,060,631,405.21 2,061,888,085.68
Owner's equity:
equity 402,600,000.00 402,600,000.00
Capital reserves 485,678,443.26 485,678,443.26
Surplus reserves 136,770,391.01 136,770,391.01
Undistributed profit -128,677,200.69 -128,677,200.69
Total owners' equity 896,371,633.58 896,371,633.58
Total liabilities and equity 2,957,003,038.79 2,958,259,719.26
Adjustment description
New lease criterion for the chief executive policy adoption of the transition period, new lease criterion allows using two methods:
method 1 is to allow enterprises to adopt retroactive adjustment; Method 2 is the first time according to the execution of the
cumulative impact of these standards, adjust this criterion for the first time at the beginning of the retained earnings and the financial
statements of other items, do not adjust the comparable period information. At the same time, provides a number of simplified
processing arrangement method 2.
In combination with the provisions of the new lease criterion, the board of directors agreed on January 1, 2021 began to implement
new lease criterion, on policy guidelines transition by using the method 2 above, and USES the simplified treatment, i.e., the lease
liability equals the present value of the remaining rental payment, right to use assets is equal to the lease liability amount and make
necessary adjustments. By using this method, will not affect the company's retained earnings at the beginning of 2021.
Perform new lease criterion for the company in accordance with the above provisions, the influence of the company on January 1,
2021 for all rental (choose to simplify the processing of short-term lease and low value assets lease except) confirmed to use asset
and lease liability, and confirm the depreciation and interest expense.
According to the transition policy, the company in implementing the new lease criterion when choosing simplified processing,
without adjusting retained earnings at the beginning of 2021, do not need to adjust the comparable period information.
2.For the first time since 2021, the new lease criterion back adjust the comparative data of the early
instructions
Applicable Inapplicable
III.Audited Report
The Q1 Report is not audited.
YES NO
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