WEIFU HIGH-TECHNOLOGY CO., LTD. THE THIRD QUARTERLY REPORT FOR 2009(FULL TEXT)
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WEIFU HIGH-TECHNOLOGY CO., LTD.
THE THIRD QUARTERLY REPORT FOR 2009
(FULL TEXT)
§1. Important Notes
1.1 Board of Directors and the Supervisory Committee of Weifu High-Technology 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.
1.2 Other directors attended the meeting on discussing the Semi-annual Report except for the
following directors:
Absent director Reason for absence Entrusted
Ge Songping Absent due to be on business Wang Weiliang
Yu Xiaoli Absent due to be on business Ma Huilan
1.3 The Third Quarterly Financial Report of 2009 has not been audited by CPAs.
1.4 Wang Weiliang, Principal of the Company; Sun Qingxian, Person in Charge of Accounting
Work; Sun Qingxian, Person in Charge of Accounting Organization (Accounting Officer) hereby
confirm that the Financial Report of the Third Quarterly Report is true and complete.
§2. Company Profile
2.1 Main accounting highlights and financial indexes:
Unit: RMB
Sep. 30, 2009 Dec. 31, 2008 Increase/decrease
scope (%)
Total assets (RMB) 4,911,980,629.29 4,597,901,224.38 6.83%
Owners’ equities attributable to the shareholders
of listed company (RMB) 2,640,279,898.37 2,506,344,515.41 5.34%
Share capital (Share) 567,275,995.00 567,275,995.00 0.00%
Net assets per share attributable to the
shareholders of listed company (RMB/Share) 4.6543 4.4182 5.34%
July-Sep. 2009
Increase/decrea
se over the
same period of
the last year
(%)
Jan.-Sep. 2009
Increase/decrea
se over the
same period of
the last year
(%)
Total operating income (RMB) 860,789,855.98 32.83% 2,121,938,269.
30 -15.90%
Net profit attributable to the shareholders of listed
company (RMB) 137,991,147.35 306.06% 225,834,094.15 40.06%
Net cash flow arising from operating activities
(RMB) - - 186,267,792.94 -67.05%
Net cash flow arising from operating activities per
share (RMB/Share) - - 0.3284 -67.05%
Basic earnings per share (RMB/Share) 0.24 300.00% 0.40 42.86%
Diluted earnings per share (RMB/Share) 0.24 300.00% 0.40 42.86%
Return on equity (%) 5.23% 3.86% 8.55% 2.04%WEIFU HIGH-TECHNOLOGY CO., LTD. THE THIRD QUARTERLY REPORT FOR 2009(FULL TEXT)
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Return on equity after deducting non-recurring
gains and losses (%) 4.93% 3.54% 8.18% 1.59%
Unit: RMB
Items of non-recurring gains and losses
Amount from year
begin to the end of
report period
Gains and losses from the disposal of non-current asset 4,414,857.29
Governmental subsidy calculated into current gains and losses, while closely related with
the business of the Company, excluding the fixed-amount or fixed-proportion
governmental subsidy according to the unified national standard
4,177,249.80
Other non-operating income and expenditure beside for the aforementioned items 5,011,689.42
Impact on income tax -2,470,297.45
Influenced amount of minority shareholders’ equity -1,246,085.08
Total 9,887,413.98
2.2 Total number of shareholders at the end of the report period and shares held by the top ten
shareholders with unrestricted conditions
Unit: Share
Total number of shareholders
at the end of report period 44,194
Particulars about the shares held by the top ten shareholders with unrestricted conditions
Full Name of shareholder Unrestricted
shares held Type of shares
ROBERT BOSCH GMBH 18,387,200 Domestically listed
foreign share
CHINA INDUSTRIAL AND COMMERCIAL BANK－E FUND VALUE
SELECTIVE STOCK FUND 13,436,560 RMB common share
GUOTAI JUNAN SECURITIES(HONGKONG) LIMITED 12,700,687 Domestically listed
foreign share
BANK OF CHINA－E FUND ACTIVE GROWTH STOCK FUND 9,000,000 RMB common share
China Construction Bank－Fullgoal Tianbo Innovation Theme Stock Fund 5,074,264 RMB common share
Orient Securities Company Limited 5,016,106 RMB common share
China Galaxy Securities Co., Ltd. 5,000,000 RMB common share
BANK OF CHINA－Golden Eagle Constituent Stock Optimized Stock Fund 4,690,494 RMB common share
INDUSTRIAL AND COMMERCIAL BANK OF CHINA－RONGTONG
SHENZHEN STOCK EXCHANGE 100 INDEX FUND 4,352,941 RMB common share
ChinaAMC Growth Stock Fund 4,092,748 RMB common share
§3. Significant events
3.1 Particulars about material changes in items of main accounting statement and financial index,
and explanations of reasons
√Applicable □InapplicableWEIFU HIGH-TECHNOLOGY CO., LTD. THE THIRD QUARTERLY REPORT FOR 2009(FULL TEXT)
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Explanations on bigger changes in main financial index of the Company in the report period
year-on-year:
1. Operating income: the operating income accumulatively realized from Jan. to Sep. amounted to
RMB 2,121,938,300 with a decrease of 15.90% year-on-year, in which operating income realized in
the third quarter was RMB 860,789,900 with an increase of 32.83% year-on-year. The main reasons
were: commercial vehicle market was stagnant in the first half year especially in the first quarter, and
it progressively recovered from June.
2. Net profit attributable to parent company: it was realized amounting to RMB 225,834,100 from
Jan. to Sep. with an increase of 40.06% year-on-year, in which RMB 137,991,100 was realized in the
third quarter with an increase of 306.06% year-on-year. The main reasons were: the Company
strengthened the comprehensive management, cost and expense were effectively controlled, the
production efficiency fully improved.
3. Operating expense: it has occurred RMB 59,540,000 from Jan. to Sep. with a decrease of 31.52%
year-on-year due to the decrease in expense of three guarantees.
4. Financial expense: it has occurred RMB 25,088,500 from Jan. to Sep. with a decrease of 71.11%
year-on-year due to the largely decrease in loan and falling in loan interest year-on-year.
5. Account receivable: the amount in period-end was RMB 715,614,900 with an increase of 52.9%
compared with that in period-begin due to the largely increase in sales volume of third quarter.
6. Net cash flow arising from operating activities: it was RMB 186,267,800 from Jan. to Sep. with a
decrease of 67.05% year-on-year due to the increases in account receivable and notes receivable.
3.2 Progress of significant events, their influences, and analysis and explanation of their solutions
□Applicable √Inapplicable
3.3 Implementations of commitments by the Company, shareholders and actual controller
√Applicable □Inapplicable
Commitments Content of commitments Implementation
Commitments
for Share
Merger
Reform
Weifu Group which participated the Share Merger Reform has committed: after
implementation of share reform, if its operation performance could not reach to the
planned target, Weifu Hi-tech would additionally deliver shares one time to A-share
circulating shareholders (the said commitment would cease to be in force till
additional-deliver ended).
i. Activating condition of additional deliver shares: 1. according to audited annual
financial report of Weifu Hi-tech, its total net profit realized in 2006 and 2008 is less
than RMB 0.85 billion (because in 2006 and 2007 automotive effluent standards
exists in turning zone as well as Bosch Automotive Diesel System Co., Ltd. exists in
losses turning into profit in input period, it is difficult to predict the large margin
growth point of the Company’s performance, and operation performance in 2006
exists uncertainty); or 2. Weifu Hi-tech’s net profit realized in 2008 would be less
than RMB 0.34 billion; or 3. Any annual financial report from 2006 to 2008 of Weifu
Hi-tech would be issued auditing opinion except Qualified Opinion.
ii. Amount of shares additional delivered: based on circulating A shares before the
share reform, arranging value of delivering 0.5 shares per 10 shares, additionally
deliver totaled 14,040,000 shares. If there exist bonus, capitalization of share equity
or share impairment in Weifu Hi-tech, deliver shares volume comparably increase or
decrease; if the Company’s share equity changed due to additional deliver, allot,
convertible bonds and certificate, etc. so as to comparably change in share equity of
original non-circulating and circulating shareholder, so additional arranged value
totaling 14,040,000 shares remained unchanged.
iii. Date of shares additional delivered: within 20 days after approval of Weifu
Hi-tech Annual Report in the year of activating condition of additional deliver shares
by shareholders’ general meeting, Weifu Group would implement commitment of
According to the
special commitment
the Company made in
share merger reform
of 2006: the total
realized net profit of
the Company from
2006 to 2008 is not
less than RMB 0.85
billion, and that in
2008 is not less than
RMB 0.34 billion.
The total realized net
profit of the
Company from 2006
to 2008 was RMB 0.6
billion, and the
realized net profit in
2008 was RMB 0.207
billion, which both
did not reach the
requirement of the
commitment, so it
activated the
additional-deliverWEIFU HIGH-TECHNOLOGY CO., LTD. THE THIRD QUARTERLY REPORT FOR 2009(FULL TEXT)
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additional deliver according to related process.
iv. Target of shares additional delivered: all unrestricted circulating A-share
shareholders of the Companies registered in the registration date of additional deliver
share and equity after Weifu Hi-tech Annual Report in the year of activating
condition of additional deliver shares is disclosed.
v. Implementing guarantee for commitment of shares additional delivered: within
expiry date of the said commitment of shares additional delivered, Weifu Group
would authorize Shenzhen Stock Exchange and Registering & Clearing Corp. to
provisionally safekeep non-circulating shares amounting to 14,040,000 shares which
used to implement guarantee for commitment of shares additional delivered and held
from Weifu Hi-tech since the date of implementation of Share Merger Reform, and
technically guarantee perform the above commitment.
condition. The
Company
additionally delivered
0.415023 shares for
each 10 circulating A
shares to all A-share
circulating
shareholders
registered in
Shenzhen branch of
the CSDC Co., Ltd.
after closing of
Shenzhen Stock
Exchange on the
afternoon of May 26,
2009, which totally
delivered 14,039,979
shares.
Commitments
on share
restriction for
trading
Non-circulating shares of Weifu Hi-tech held by Weifu Group could not listed or
transferred within 60 months since possessing of listing right. After the expiry of the
commitment period, original non-circulating shares would be listed for sale in
Shenzhen Stock Exchange, the proportion of sales volume to total share equity of
Weifu Hi-tech could not exceed 5% within 12 months as well as 10% within 24
months, and sales price ought not to less than RMB 10 per share (the lowest
impairment price of shares holding would be calculated ex-right at the same time if
share price ought to ex-right according to regulation).
The said commitment
is being implemented
and no share is
reduced to hold.
Commitments
made in
Acquisition
Report or
Reports on
Change in
Interests
Naught Naught
Commitments
made in
Material
Assets
Reorganization
Naught Naught
Commitments
made in
issuing
Naught Naught
Other
commitments
(including
additional
commitments)
(1) Commitment on Bonus Plan
After the implementation of Share Merger Reform of the Company, Wuxi Industry
Development Group Co., Ltd. would make a proposal and vote for it: cash dividend
of Weifu High-tech in 2005 is not less than RMB 4 for each 10 shares, proportion of
cash dividend from 2006 to 2008 is not less than 50% of distributable profit for
investors realized by the Company in current years.
(1) The Bonus Plan
has been
implemented, “Wuxi
Industry
Development Group
Co., Ltd. would make
a proposal and vote
for it: Weifu
High-tech has
implemented in years
2005, 2006, 2007 and
2008.The
implementation of
2008 was completed
on May 26, 2009.WEIFU HIGH-TECHNOLOGY CO., LTD. THE THIRD QUARTERLY REPORT FOR 2009(FULL TEXT)
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(2) Commitment on arrangement of governance encouragement system
In order to promote the listed company’s steady and healthy development, fully
mobilize senior executives so as to ensure to combine the interests of the governance
and shareholders of the Company, Weifu Industry Group committed: after Weifu
High-tech finishing Share Merger Reform, under related regulations of the state and
Wuxi government in terms of governance encouragement system of listed company,
the Group would the stock incentive plan for management level of Weifu High-tech.
(2) The said
commitment is being
implemented, and
would be performed
since related policy is
released.
3.4 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 √Inapplicable
3.5 Particulars about the other significant events which needed explanations
Naught
3.5.1 Activities on receiving research, communication and interview in the report period
Date Place Way The received parties Contents discussed and
materials supplied
July 29, 2009 Reception room of
the Company
Spot
research HAITONG SECRITIES CO., LTD. Operation status and future
development of the Company
July 30, 2009 Reception room of
the Company
Spot
research J.P.Morgan Operation status and future
development of the Company
Aug. 19, 2009 Reception room of
the Company
Spot
research
AIG-Huatai Fund Management Co.,
Ltd.
Operation status and future
development of the Company
Aug. 31, 2009 Reception room of
the Company
Telephone
communica
tion
China Jianyin Investment Securities
Co., Ltd.
Operation status and future
development of the Company
Sep. 1, 2009 Reception room of
the Company
Spot
research
China International Fund Management
Co., Ltd.
Operation status and future
development of the Company
Sep. 9, 2009 Reception room of
the Company
Spot
research
NAITO SEC. and China Merchants
Securities Co., Ltd.
Operation status and future
development of the Company
Sep. 9, 2009 Reception room of
the Company
Spot
research
Bank of China Investment
Management Co., Ltd. and SYWG
BNP Paribas Asset Management Co.,
Ltd.
Operation status and future
development of the Company
Sep. 16, 2009 Reception room of
the Company
Spot
research
Nomura Securities International, Inc.
and Fortis Haitong Investment
Management Co., Ltd.
Operation status and future
development of the Company
Sep. 17, 2009 Reception room of
the Company
Spot
research Penghua Fund Management Co., Ltd. Operation status and future
development of the Company
Sep. 18, 2009 Reception room of
the Company
Spot
research Guosen Securities Co., Ltd. Operation status and future
development of the Company
Sep. 22, 2009 Reception room of
the Company
Spot
research
Changjiang Securities Company
Limited, United Securities Co., Ltd.
and
Boshi Fund Management Co., Ltd.
Operation status and future
development of the Company
Sep. 28, 2009 Reception room of
the Company
Spot
research
ICBC Credit Suisse Asset Management
Co., Ltd.
Operation status and future
development of the CompanyWEIFU HIGH-TECHNOLOGY CO., LTD. THE THIRD QUARTERLY REPORT FOR 2009(FULL TEXT)
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Sep. 29, 2009 Reception room of
the Company
Spot
research
Orient Securities Company Limited
and Fullgoal Fund Management Co.,
Ltd.
Operation status and future
development of the Company
3.6 Particulars about derivatives investment
□Applicable √Inapplicable
3.6.1 Particulars about the positions of derivatives investment at the end of report period
□Applicable √Inapplicable
§4. Appendix
4.1 Balance sheet
Prepared by Weifu High-Technology Co., Ltd. Sep. 30, 2009 Unit: RMB
Balance at Items Consolidation pPerairoedn-te Cndo mpany ConsoBliadlaatniocne at yPeaarr-ebnetg Cino mpany
Current assets:
Monetary funds 402,826,774.85 140,636,343.72 633,818,074.23 228,735,378.18
Settlement provisions
Capital lent
Transaction finance asset
Notes receivable 423,121,776.69 233,700,831.00 388,733,826.26 197,129,578.52
Accounts receivable 715,614,945.63 455,993,622.69 468,041,533.70 243,063,549.71
Accounts paid in advance 33,602,700.51 18,699,004.96 33,595,448.26 20,937,261.75
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Interest receivable
Dividend receivable
Other receivables 12,168,104.70 968,580.35 6,611,679.75 1,913,035.12
Purchase restituted finance asset
Inventories 527,066,082.92 172,037,014.13 507,375,789.63 194,914,308.68
Non-current asset due within one
year
Other current assets 3,541,962.09 4,913,524.44
Total current assets 2,117,942,347.39 1,022,035,396.85 2,043,089,876.27 886,693,111.96
Non-current assets:
Granted loans and advances
Finance asset available for sales
Held-to-maturity investment
Long-term account receivable
Long-term equity investment 1,408,293,292.52 1,926,050,616.58 1,216,336,268.93 1,775,737,750.20WEIFU HIGH-TECHNOLOGY CO., LTD. THE THIRD QUARTERLY REPORT FOR 2009(FULL TEXT)
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Investment property
Fixed assets 1,122,725,028.73 602,442,690.60 1,047,314,144.93 621,566,379.00
Construction in progress 128,236,393.54 118,755,612.08 171,144,058.98 126,462,367.06
Engineering material
Disposal of fixed asset
Productive biological asset
Oil and gas asset
Intangible assets 93,553,164.67 27,571,531.47 78,229,946.20 28,074,191.73
Expense on Research and
Development
Goodwill
Long-term expenses to be
apportioned 2,112,429.95 2,372,655.75
Deferred income tax asset 39,117,972.49 8,677,818.82 39,414,273.32 8,643,664.77
Other non-current asset
Total non-current asset 2,794,038,281.90 2,683,498,269.55 2,554,811,348.11 2,560,484,352.76
Total assets 4,911,980,629.29 3,705,533,666.40 4,597,901,224.38 3,447,177,464.72
Current liabilities:
Short-term loans 721,000,000.00 640,000,000.00 843,036,725.49 615,000,000.00
Loan from central bank
Absorbing deposit and interbank
deposit
Capital borrowed
Transaction financial liabilities
Notes payable 175,325,803.35 145,170,000.00 231,760,209.02 192,450,209.02
Accounts payable 784,858,008.18 477,181,681.97 502,090,202.96 300,072,484.51
Accounts received in advance 24,279,585.66 13,500,293.97 19,023,738.35 1,795,586.83
Selling financial asset of repurchase
Commission charge and commission
payable
Wage payable 114,922,536.89 46,743,916.57 135,485,636.96 62,362,525.91
Taxes payable 22,123,808.88 11,705,014.42 11,436,759.32 -2,482,224.39
Interest payable
Dividend payable
Other accounts payable 141,265,817.80 60,318,826.87 99,693,552.47 83,506,503.70
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Non-current liabilities due within 1
year
Other current liabilities 46,609,940.32 23,732,816.32 10,683,370.14 1,250,000.00
Total current liabilities 2,030,385,501.08 1,418,352,550.12 1,853,210,194.71 1,253,955,085.58
Non-current liabilities:WEIFU HIGH-TECHNOLOGY CO., LTD. THE THIRD QUARTERLY REPORT FOR 2009(FULL TEXT)
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Long-term loans
Bonds payable
Long-term account payable 15,700,000.00 15,700,000.00
Special accounts payable
Projected liabilities 1,604,658.96 1,604,658.96
Deferred income tax liabilities
Other non-current liabilities 2,066,300.00 2,090,000.00
Total non-current liabilities 17,766,300.00 1,604,658.96 17,790,000.00 1,604,658.96
Total liabilities 2,048,151,801.08 1,419,957,209.08 1,871,000,194.71 1,255,559,744.54
Owner’s equity (or shareholders’ equity):
Paid-in capital (or share capital) 567,275,995.00 567,275,995.00 567,275,995.00 567,275,995.00
Capital public reserve 907,580,308.28 923,981,806.57 907,580,308.28 923,981,806.57
Less: Inventory shares
Reasonable reserve
Surplus public reserve 262,439,505.87 262,439,505.87 262,439,505.87 262,439,505.87
Provision of general risk
Retained profit 902,984,089.22 531,879,149.88 769,048,706.26 437,920,412.74
Balance difference of foreign
currency translation
Total owner’s equity attributable to parent
company 2,640,279,898.37 2,285,576,457.32 2,506,344,515.41 2,191,617,720.18
Minority interests 223,548,929.84 220,556,514.26
Total owner’s equity 2,863,828,828.21 2,285,576,457.32 2,726,901,029.67 2,191,617,720.18
Total liabilities and owner’s equity 4,911,980,629.29 3,705,533,666.40 4,597,901,224.38 3,447,177,464.72
4.2 Profit statement in the report period
Prepared by Weifu High-Technology Co., Ltd. July-Sep. 2009 Unit: RMB
This period The same period of last year
Items Consolidation Parent
Company Consolidation Parent
Company
I. Total operating income 860,789,855.98 483,336,821.44 648,029,976.81 374,980,778.11
Including: Operating income 860,789,855.98 483,336,821.44 648,029,976.81 374,980,778.11
Interest income
Insurance gained
Commission charge and commission income
II. Total operating cost 823,445,206.27 469,783,985.27 665,137,624.87 400,345,153.55
Including: Operating cost 669,604,975.27 401,574,614.34 537,201,463.01 339,160,851.41
Interest expense
Commission charge and commission expense
Cash surrender value
Net amount of expense of compensation
Net amount of withdrawal of insurance
contract reserve
Bonus expense of guarantee slipWEIFU HIGH-TECHNOLOGY CO., LTD. THE THIRD QUARTERLY REPORT FOR 2009(FULL TEXT)
9
Reinsurance expense
Operating tax and extras 4,932,133.98 2,714,990.78 3,509,744.20 1,669,533.44
Sales expenses 32,349,669.61 23,884,080.99 20,397,413.96 14,355,895.58
Administration expenses 106,699,350.89 34,381,132.17 79,789,313.43 29,385,902.92
Financial expenses 9,902,211.80 7,229,166.99 24,140,900.27 15,772,970.20
Losses of devaluation of asset -43,135.28 98,790.00
Add: Changing income of fair value(Loss is
listed with “-”)
Investment income (Loss is listed with “-”) 102,830,164.13 91,020,002.03 54,460,852.47 49,228,755.35
Including: Investment income on affiliated
company and joint venture 99,752,064.13 91,020,002.03 54,460,852.47 49,041,712.32
Exchange income (Loss is listed with “-”)
III. Operating profit (Loss is listed with “-”) 140,174,813.84 104,572,838.20 37,353,204.41 23,864,379.91
Add: Non-operating income 8,389,044.67 291,345.80 63,670.03 6,773.00
Less: Non-operating expense 1,798,313.13 884,707.01 2,141,140.48 925,422.84
Including: Disposal loss of non-current asset 788,296.50 401,370.19 60,938.15 36,076.50
IV. Total Profit (Loss is listed with “-”) 146,765,545.38 103,979,476.99 35,275,733.96 22,945,730.07
Less: Income tax expense 3,909,773.87 790,081.78 -200,218.87
V. Net profit (Net loss is listed with “-”) 142,855,771.51 103,979,476.99 34,485,652.18 23,145,948.94
Net profit attributable to owner’s of parent
company 137,991,147.35 103,979,476.99 33,982,864.49 23,145,948.94
Minority shareholders’ gains and losses 4,864,624.16 502,787.69
VI. Earnings per share
i. Basic earnings per share 0.24 0.18 0.06 0.04
ii. Diluted earnings per share 0.24 0.18 0.06 0.04
VII. Other consolidated income
VIII. Total consolidated income 142,855,771.51 103,979,476.99 34,485,652.18 23,145,948.94
Total consolidated income attributable to owners
of parent company 137,991,147.35 103,979,476.99 33,982,864.49 23,145,948.94
Total consolidated income attributable to minority
shareholders 4,864,624.16 502,787.69
4.3 Profit statement from year-begin to the end of report period
Prepared by Weifu High-Technology Co., Ltd. Jan.-Sep. 2009 Unit: RMB
Amount i Items Consolidation n tPhaisr epnetr iCoodm pany ConsoAlmidoatuinotn in lPaastr epnetr iCoodm pany
I. Total operating income 2,121,938,269.30 1,217,442,367.70 2,523,126,434.95 1,404,906,192.06
Including: Operating income 2,121,938,269.30 1,217,442,367.70 2,523,126,434.95 1,404,906,192.06
Interest income
Insurance gained
Commission charge and commission
income
II. Total operating cost 2,032,294,287.95 1,194,607,750.69 2,489,021,630.60 1,435,027,343.84
Including: Operating cost 1,706,806,742.76 1,058,259,246.22 2,023,460,700.50 1,229,912,097.74
Interest expenseWEIFU HIGH-TECHNOLOGY CO., LTD. THE THIRD QUARTERLY REPORT FOR 2009(FULL TEXT)
10
Commission charge and commission
expense
Cash surrender value
Net amount of expense of compensation
Net amount of withdrawal of insurance
contract reserve
Bonus expense of guarantee slip
Reinsurance expense
Operating tax and extras 13,576,435.37 6,154,761.50 14,762,856.91 6,450,775.31
Sales expenses 59,539,955.29 40,598,022.57 86,945,961.18 59,813,140.37
Administration expenses 227,179,135.75 69,884,691.11 274,015,272.31 85,775,850.30
Financial expenses 25,088,455.59 20,236,540.50 86,833,477.33 48,685,991.44
Losses of devaluation of asset 103,563.19 -525,511.21 3,003,362.37 4,389,488.68
Add: Changing income of fair
value(Loss is listed with “-”)
Investment income (Loss is listed with
“-”) 153,068,051.08 165,884,948.26 161,855,392.22 218,867,841.85
Including: Investment income on
affiliated company and joint venture 149,089,951.08 131,474,776.38 161,855,392.22 149,263,419.07
Exchange income (Loss is listed with
“-”)
III. Operating profit (Loss is listed with “-”) 242,712,032.43 188,719,565.27 195,960,196.57 188,746,690.07
Add: Non-operating income 11,822,023.38 395,915.68 248,437.45 26,673.79
Less: Non-operating expense 5,314,301.44 3,292,186.67 10,676,095.71 6,313,590.22
Including: Disposal loss of non-current
asset 2,366,370.43 1,819,416.30 1,116,866.48 924,905.82
IV. Total Profit (Loss is listed with “-”) 249,219,754.37 185,823,294.28 185,532,538.31 182,459,773.64
Less: Income tax expense 12,158,337.26 -34,154.05 13,462,841.14 -149,122.67
V. Net profit (Net loss is listed with “-”) 237,061,417.11 185,857,448.33 172,069,697.17 182,608,896.31
Net profit attributable to owner’s of
parent company 225,834,094.15 185,857,448.33 161,235,933.45 182,608,896.31
Minority shareholders’ gains and losses 11,227,322.96 10,833,763.72
VI. Earnings per share
i. Basic earnings per share 0.40 0.33 0.28 0.32
ii. Diluted earnings per share 0.40 0.33 0.28 0.32
VII. Other consolidated income
VIII. Total consolidated income 237,061,417.11 185,857,448.33 172,069,697.17 182,608,896.31
Total consolidated income attributable to
owners of parent company 225,834,094.15 185,857,448.33 161,235,933.45 182,608,896.31
Total consolidated income attributable to
minority shareholders 11,227,322.96 10,833,763.72
4.4 Cash flow statement from year-begin to the end of report period
Prepared by Weifu High-Technology Co., Ltd. Jan.-Sep. 2009 Unit: RMB
Amount i Items Consolidation n tPhaisr epnetr Cioodm pany ConsoAlmidoatuinotn in lPaastr epnetr iCoodm panyWEIFU HIGH-TECHNOLOGY CO., LTD. THE THIRD QUARTERLY REPORT FOR 2009(FULL TEXT)
11
I. Cash flows arising from operating activities:
Cash received from selling commodities and
providing labor services 1,914,589,089.03 1,174,098,509.06 2,750,611,111.72 1,600,885,625.02
Net increase of customer deposit and interbank
deposit
Net increase of loan from central bank
Net increase of capital borrowed from other
financial institution
Cash received from original insurance contract
fee
Net cash received from reinsurance business
Net increase of insured savings and investment
Net increase of disposal of transaction financial
asset
Cash received from interest, commission charge
and commission
Net increase of capital borrowed
Net increase of returned business capital
Write-back of tax received 15,595,746.79 12,662,171.17
Other cash received concerning operating
activities 17,973,405.65 9,462,660.85 11,095,492.72 31,683,768.84
Subtotal of cash inflow arising from operating
activities 1,948,158,241.47 1,183,561,169.91 2,774,368,775.61 1,632,569,393.86
Cash paid for purchasing commodities and
receiving labor service 1,284,545,100.19 955,533,765.20 1,688,464,266.13 1,106,662,637.33
Net increase of customer loans and advances
Net increase of deposits in central bank and
interbank
Cash paid for original insurance contract
compensation
Cash paid for interest, commission charge and
commission
Cash paid for bonus of guarantee slip
Cash paid to/for staff and workers 232,685,022.63 109,217,197.92 235,681,627.43 108,402,250.92
Taxes paid 144,682,277.12 55,133,161.26 180,365,555.68 57,187,864.08
Other cash paid concerning operating activities 99,978,048.59 51,138,715.62 104,513,152.49 63,778,947.01
Subtotal of cash outflow arising from operating
activities 1,761,890,448.53 1,171,022,840.00 2,209,024,601.73 1,336,031,699.34
Net cash flows arising from operating activities 186,267,792.94 12,538,329.91 565,344,173.88 296,537,694.52
II. Cash flows arising from investing activities:
Cash received from recovering investment 3,933,600.00 3,438,430.00
Cash received from investment income 6,761,910.00 40,272,081.88 26,756,031.30 96,173,411.05
Net cash received from disposal of fixed,
intangible and other long-term assets 6,973,959.13 3,175,561.43 778,611.74 508,209.74
Net cash received from disposal of subsidiaries
and other units
Other cash received concerning investing
activities
Subtotal of cash inflow from investing activities 17,669,469.13 43,447,643.31 30,973,073.04 96,681,620.79
Cash paid for purchasing fixed, intangible and 113,549,085.31 28,719,177.57 121,595,417.45 69,718,412.13WEIFU HIGH-TECHNOLOGY CO., LTD. THE THIRD QUARTERLY REPORT FOR 2009(FULL TEXT)
12
other long-term assets
Cash paid for investment 24,700,000.00 24,700,000.00 14,294,800.00 39,294,800.00
Net increase of mortgaged loans
Net cash received from subsidiaries and other
units
Other cash paid concerning investing activities
Subtotal of cash outflow from investing
activities 138,249,085.31 53,419,177.57 135,890,217.45 109,013,212.13
Net cash flows arising from investing activities -120,579,616.18 -9,971,534.26 -104,917,144.41 -12,331,591.34
III. Cash flows arising from financing activities
Cash received from absorbing investment
Including: Cash received from absorbing
minority shareholders’ investment by subsidiaries
Cash received from loans 1,126,000,000.00 850,000,000.00 1,182,330,468.94 545,000,000.00
Cash received from issuing bonds
Other cash received concerning financing
activities
Subtotal of cash inflow from financing activities 1,126,000,000.00 850,000,000.00 1,182,330,468.94 545,000,000.00
Cash paid for settling debts 1,258,036,725.49 825,000,000.00 1,409,533,348.88 684,413,800.00
Cash paid for dividend and profit distributing or
interest paying 103,912,014.44 95,201,530.11 186,613,351.03 128,153,920.10
Including: Dividend and profit of minority
shareholder paid by subsidiaries 20,150,015.39
Other cash paid concerning financing activities
Subtotal of cash outflow from financing
activities 1,361,948,739.93 920,201,530.11 1,596,146,699.91 812,567,720.10
Net cash flows arising from financing activities -235,948,739.93 -70,201,530.11 -413,816,230.97 -267,567,720.10
IV. Influence on cash and cash equivalents due to
fluctuation in exchange rate
V. Net increase of cash and cash equivalents -170,260,563.17 -67,634,734.46 46,610,798.50 16,638,383.08
Add: Balance of cash and cash equivalents at the
period -begin 497,478,381.02 141,771,078.18 678,013,454.68 131,564,251.25
VI. Balance of cash and cash equivalents at the period
-end 327,217,817.85 74,136,343.72 724,624,253.18 148,202,634.33
4.5 Auditor’s report
Auditor’s opinions: Un-audited
Board of Directors of
Weifu High-technology Co., Ltd.
October 28, 2009
