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本钢板B:2018年半年度报告摘要(英文版)2018-08-28  

						                                                      Summary of Semi-Annual Report 2018 of Bengang Steel Plates Co., Ltd.



Stock Code: 000761, 200761                  Abbreviation: Bengang Bancai, Bengangban B                      Announcement No.: 2018-038


        Summary of Semi-Annual Report 2018 of Bengang Steel
                         Plates Co., Ltd.
I. Important Notice

This Semi-Annual Report Summary is taken from the full text of the Semi-Annual Report. Investors are advised to read carefully the
full text of the Semi-Annual Report published on the media designated by China Securities Regulatory Commission in order to fully
understand the Company’s operation results, financial position and future development plan.

Objection statement of directors, supervisors and senior executives
                  Name                                  Office title                                  Objection & reason
Statement
Other directors attending the Meeting for Semi-Annual Report deliberation except for the following

      Name of director absent         Title of director absent               Reasons for absence                     Attorney
Shu Wang                         Chairman                              On official business              Xinghua Huang
Aimin Cao                        Director                              On official business              Xinghua Huang
Non-standard auditor’s opinion
□ Applicable √Not applicable
Plans for profit distribution on ordinary shares or conversion of capital reserves into share capital proposed to the Board during the
reporting period
□Applicable √Not applicable
The Company plans not to distribute cash dividend or bonus shares, and not to convert capital reserve into share capital.
Plans for profit distribution on preference shares for the reporting period approved by the Board
□ Applicable √ Not applicable


II. Company Profile and Main Financial Index

1. Company profile

                                       Bengang Bancai, Bengangban
Stock abbreviation                                                Stock Code                              000761, 200761
                                       B
Stock exchange for listing             Shenzhen Stock Exchange
Contact person and manner                              Board secretary                             Securities affairs Representative
Name                                   Zhonghua Zhao
                                       No.16, Renmin Road, Pingshan District,
Address
                                       Benxi City, Liaoning Province
Tel                                    024-47828860
Email                                  BGBC2018@163.com


2. Main Accounting Data and Financial Index

Whether the Company needs retrospective adjustment or restatement of previous years’ accounting data due to changes of accounting
policies and correction of accounting errors
□ Yes √ No
                                                                                                                      Unit: Yuan
                                                                                                              Increase or decrease in this
                                                                              Same period in the previous
                                                 This reporting period                                         reporting period over the
                                                                                        year
                                                                                                                     previous year




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                                                         Summary of Semi-Annual Report 2018 of Bengang Steel Plates Co., Ltd.



Operating income                                         23,441,247,377.14             20,736,486,903.74                           13.04%
Net profit attributable to the shareholders
                                                            756,951,987.59                523,635,653.57                           44.56%
of the listed company
Net profit after deducting non-recurring
gain/loss attributable to the shareholders of               724,922,955.98                508,873,423.83                           42.46%
listed company
Net cash flows generated by operating
                                                            730,519,741.47             -4,047,305,684.72                          118.05%
activities
Basic earnings per share                                              0.195                            0.167                       16.77%
Diluted earnings per share                                            0.195                            0.167                       16.77%
ROE                                                                   4.56%                        4.04%                             0.52%
                                                                                                               Increase or decrease at the
                                                   At the end of current        At the end of previous
                                                                                                               end of this reporting period
                                                     reporting period              reporting period
                                                                                                                 over the previous year
Total assets                                             64,033,117,289.87             62,998,143,513.02                             1.64%
Net assets attributable to shareholders of
                                                         18,861,998,055.40             14,315,588,729.00                           31.76%
the listed company


3. Number of shareholders and shareholding

                                                                                                                                Unit: Share
                                                                       The total number of
Total number of common                                                 preferred shareholders
shareholders at the end of the                                  66,016 voting rights restored at the                                      0
reporting period                                                       end of the reporting period
                                                                       (See Notes 8)
                             Shareholding of shareholders holding more than 5% or top 10 shareholders
                                                                                                       Quantity of pledged or frozen
  Name of the         Nature of        Holding          Number of                                                 shares
                                                                      Number of restricted shares held
  shareholder        shareholder      Percentage        shares held
                                                                                                         Status         Quantity
Benxi Steel &                                                                                             Pledged           1,523,095,133
                 State-owned
Iron (Group)                                  59.91% 2,321,689,670
                 legal person                                                                             Frozen                45,000,000
Co., Ltd.
Liaoning
Transportation State-owned
                                                4.77%   184,842,883                       184,842,883
Investment Co., legal person
Ltd.
CCB
Fund-ICBC-
China
Resources
SZI-China
Resources       Others                          4.77%   184,842,883                       184,842,883
TrustXingshen
g     No.     5
Collective Fund
Trust Scheme




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                                                       Summary of Semi-Annual Report 2018 of Bengang Steel Plates Co., Ltd.




Beixin Ruifeng
Fund-China
Merchants
Bank-Beixin
Ruifeng Fund Others                         4.77%     184,842,883                      184,842,883
Fengqing 229
Asset
Management
Plan


China Life
AMP Asset -
ICBC - China
Life AMP -
Huaxin Trust   Others                       4.77%     184,842,883                      184,842,883
Increase No.10
Asset
Management
Plan
VANGUARD
EMERGING
           Overseas legal
MARKETS                                     0.21%        8,157,311
           person
STOCK
INDEX FUND
                 Domestic natural
Jinghong Chen                               0.19%        7,360,500
                 person
                 Domestic natural
Ruijun LYU                                  0.13%        5,119,800
                 person
VANGUARD
TOTAL
           Overseas legal
INTERNATIO                                  0.12%        4,606,141
           person
NAL STOCK
INDEX FUND
                 Domestic natural
Xiaofan Yu                                  0.10%        4,002,707
                 person
Explanation on associated           It is unknown to the Company whether there is any related connection or ‘Action in Concert’ as
relationship among the aforesaid    described by Rules of Information Disclosing Regarding Changing of Shareholding Status of
shareholders                        Listed Companies existing among the above shareholders.
                                    Benxi Steel & Iron (Group) Co., Ltd. holds 2,071,689,670 shares of the company through
Explanation on shareholders
                                    ordinary securities account and 250,000,000 shares of the company through investors' credit
participating in the margin trading
                                    securities accounts, totally 2,321,689,670 shares. Xiaoling Liu holds 3,200,000 shares of the
business (if any)
                                    company through investors' credit securities accounts.


4. Changes of Controlling Shareholders and Substantial Controller

Change of holding shareholder
□ Applicable √ Not applicable
There was no change of holding shareholder in the report period.
Change of substantial controller
□ Applicable √ Not applicable
There was no change of substantial controller in the report period.

5. Total preferred shareholders of the Company and shares held by top ten shareholders

□ Applicable √ Not applicable
There was no Preferred Shares during the reporting period.




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                                                       Summary of Semi-Annual Report 2018 of Bengang Steel Plates Co., Ltd.



6. Information about the corporate bonds

Whether there exists any un-matured corporate bonds public issued and listed on the Stock Exchange or any matured corporate bonds
which the listed company failed to pay in full at the approval date of the Semi-Annual Report
No


III. Management Discussion and Analysis

1. General

Whether the Company needs to comply with the disclosure requirements for special industry
No

In the first half of 2018, the Company's overall production was organized steadily and smoothly. However, steel production was
decreased compared with the same period last year affected by the reform of two blast furnaces. Production of pig iron and crude
steels reduced by 930,000 and 770,000 tons respectively compared with the same period last year. In order to reduce the impact of
the decreased production of pig iron on the performance, the Company seized the opportunity of high-level operation in the steel
market, comprehensively strengthened enterprise management, and thoroughly implemented potential tapping, costs reduction and
efficiency improvement, continuously improving the quality and efficiency of economic operations, and achieved remarkable results.
Revenue increased 13.04% and profits increased 44.56% compared to same period in previous year.
The main work done in production operation during the first half year is as followings:
First, the market development and variety adjustment to increase the benefits gained fruitful results. Through the expansion of
varieties, optimization of structure, improvement of the proportion of high value-added products, improvement of the efficiency of
steel ton, optimization of the regional market structure and other effective measures, the Company continuously realized the increase
of benefits.
Second, referring to the advanced domestic iron and steel enterprise's control mode, the Company fully implemented the "fixed
position, fixed staffing, fixed responsibility, fixed compensation" work, smoothly implemented the design and reform of
compensation system. At the same time, the Company implemented departmental work-style assessment, enterprise accountability
system, leading group and leading cadre comprehensive assessment methods. Through the four internal reform measures, the
Company improved the level of enterprise management in all aspects.
Third, the Company effectively implemented innovation-driven strategy. In the first half year, the Company developed a total of 24
new products, among which QP980 steel product completed the first industrial test, all its performance indicators met the
requirements of the national standard, filling the gap in the research field of Bengang in quenching and distribution steel. Low-iron-
loss 50BW470 product realized batch supply, its physical quality achieved the domestic advanced level. The first time of
development and production of cars (passenger cars) gears steel 20CrMnTiH2 product realized a new breakthrough in the
development of gear steel for cars (passenger cars). The high-speed tool steel DS120 product broke the foreign steel's monopoly in
saw steel market.
Fourth, the safety production situation was overall stable. The Company carried out key-point special rectification work and
production safety month activities, detailed the implementation of security responsibilities at all levels, increased security education
and training, in-depth implemented various types of special hidden trouble, strengthened the implementation of joint maintenance
construction safety measures. Thus, none responsible production death accidents occurred, and the Company achieved the “three zero
goal”, which means no larger personal accident, no larger equipment accident, no major fire accident.
Five, the green development strategy achieved remarkable results. In strict accordance with national standards and policy
requirements, the Company solidly carried out a second census and inventory of pollution sources and the application for steel
industry pollutant discharge permit. Through strengthening the stable operation of environmental protection facilities, implementing
the pollutant stability standard discharge, perfecting the automatic on-line monitoring facility and so on, the Company realized
controllable discharge in the pollution-producing link, and accountable foundation basis for discharge quantity.
Six, the strategy of strengthening talents was implemented continuously and thoroughly. The Company carried out the open
competition for leading cadres in accordance with the principles of paying attention to personal character, grass-roots units,
achievements and academic qualifications. Based on the MBA training course of Bengang, the Company deepened the training of
leading cadres to improve their quality and ability, strived to use 3-5 years to complete the training rotation of all leading cadres, so
as to refine their thinking, sublimate their realm, open up their ideas and strengthen their confidence, and to promote the quality of
leading cadres comprehensively.
Seven, the Company continuously strengthened and improved the Party building, strengthened the Party's leadership, implemented
the "Party Building Leadership and Revitalization Project", incorporated the requirements of Party building into the articles of
association, and clarified the legal status of Party organizations in the corporate governance structure. The Company strengthened the
construction of Party branches at the grass-roots level and implemented the "Solid Foundation Project". The Company strengthened
the building of Party members and implemented the "Pioneer Project of Communist Party members". The Company improved the
Party's organizational living system, organized leading groups of Party committees at all levels to hold special meetings on
democratic life of political warning education, and organized Party members to carry out special discussions on the theme of
"Stressing Practical Work, Strengthening Implementation, Grasping Implementation", so as to carry forward the style of seeking truth
and pragmatism and doing practical work.



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                                                     Summary of Semi-Annual Report 2018 of Bengang Steel Plates Co., Ltd.



2. Issues related to the financial report

(1) Changes in the accounting policy, accounting estimation and measurement methods
√ Applicable □ Not applicable
There was no change in accounting policy, accounting estimation and measurement methods during the reporting period.

(2) Illustrations of retrospective restatement due to correction of significant accounting errors in the report
period
□ Applicable √ Not applicable
No major accounting errors within reporting period that needs retrospective restatement for the Company in the period.

(3) Illustrations of changes of the consolidation scope as compared with the financial report of previous
year
□Applicable √ Not applicable
There was no change in the scope of consolidated statements during the reporting period.




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