WEIFU HIGH-TECHNOLOGY GROUP CO., LTD. THE THIRD QUARTERLY REPORT FOR 2010(FULL TEXT)
1
WEIFU HIGH-TECHNOLOGY GROUP CO., LTD.
THE THIRD QUARTERLY REPORT FOR 2010
(FULL TEXT)
§1. Important Notes
1.1 Board of Directors and the Supervisory Committee of Weifu High-Technology Group Co., Ltd.
(hereinafter referred to as the Company) and its directors, supervisors and senior executives hereby
confirm that there are no any fictitious statements, misleading statements, or important omissions
carried in this report, and shall take all responsibilities, individual and/or joint, for the reality,
accuracy and completion of the whole contents.
1.2 Other directors attended the meeting on discussing the Quarterly Report except for the following
directors:
Absent director Reason for absence Entrusted
Du Fangci Absent due to be on business Naught
1.3 The Third Quarterly Financial Report of 2010 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
2010.9.30 2009.12.31 Increase/decrease
scope (%)
Total assets (RMB) 6,405,466,975.28 5,035,871,583.02 27.20%
Owners’ equities attributable to the
shareholders of listed company
(RMB)
3,388,334,920.11 2,862,670,558.77 18.36%
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)
5.9730 5.0463 18.36%
July-Sep.2010
Increase/dec
rease over
the same
period of the
last year (%)
Jan.-Sep. 2010
Increase/decr
ease over the
same period
of the last
year (%)
Total operating income (RMB) 1,326,188,298.11 54.07% 3,976,875,434.09 87.42%
Net profit attributable to the
shareholders of listed company
(RMB)
297,725,355.66 115.76% 616,832,817.18 173.14%
Net cash flow arising from operating
activities (RMB) - - 430,539,547.36 131.14%
Net cash flow arising from operating
activities per share (RMB/Share) - - 0.7590 131.14%
Basic earnings per share
(RMB/Share) 0.52 116.67% 1.09 172.50%
Diluted earnings per share 0.52 116.67% 1.09 172.50%WEIFU HIGH-TECHNOLOGY GROUP CO., LTD. THE THIRD QUARTERLY REPORT FOR 2010(FULL TEXT)
2
(RMB/Share)
Weighted average return on equity
(%) 9.02% 3.72% 19.59% 10.80%
Weighted average return on equity
after deducting non-recurring
gains/losses (%)
9.01% 4.01% 19.48% 11.07%
Items of non-recurring gains and losses Amount from year begin
to the end of report period Note
Gains and losses from the disposal of non-current
asset 4,663,634.13
Other non-operating income and expenditure beside
for the aforementioned items -477,644.98
Influenced amount of minority shareholders’ equity 39,375.38
Impact on income tax -695,072.87
Total 3,530,291.66 -
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 26,906
Particulars about the shares held by the top ten shareholders with unrestricted conditions
Full name of shareholder Unrestricted shares held
at period-end Type of shares
ROBERT BOSCH GMBH 18,387,200 Domestically listed
foreign share
China Construction Bank—Fuguo Tianbo
Innovation Theme Stock Securities Investment
Fund
12,756,865 RMB common share
DRAGON BILLION CHINA MASTER FUND 11,000,527 Domestically listed
foreign share
GUOTAI JUNAN SECURITIES(HONGKONG)
LIMITED 10,886,783 Domestically listed
foreign share
China Construction Bank－Fullgoal Tianbo
Innovation Theme Stock Fund 10,853,693 RMB common share
China AMC Growth Stock Fund 9,765,521 RMB common share
Bank of China—Huaxia Return Securities
Investment Fund 8,736,776 RMB common share
Bank of Communications – Huaan Innovation
Securities Investment Fund 8,180,000 RMB common share
China Construction Bank – Huaxia Advantage
Growth Stock Securities Investment Fund 6,379,706 RMB common share
Agriculture Bank of China – Dongwu Value
Growth Double-motion Stock Securities
Investment Fund
6,237,003 RMB common share
§3. Significant eventsWEIFU HIGH-TECHNOLOGY GROUP CO., LTD. THE THIRD QUARTERLY REPORT FOR 2010(FULL TEXT)
3
3.1 Particulars about material changes in items of main accounting statement and financial
index, and explanations of reasons
√Applicable □Inapplicable
1. Operating income accumulatively realized RMB 3,976,875,400 from Jan. to Sep with an increase
of 87.42% y-o-y. Main reasons were: the substantial growth of leading products that influenced by
the rapidly growth of commercial vehicles.
2. Operating expenses increase 74.72% over same period of last year. Main reason was: the growth of
total operating income caused the increase of salary expenses.
3. Management expenses increase 61.74% over same period of last year. Mainly due to the increase
of research &development expense and salary expenses.
4. Net profit attributable to parent company realized RMB 616,832,800 from Jan. to Sep with an
increase of 173.14% y-o-y. Main reasons were: the rapidly growth of operating income, increase the
investment income, strength in comprehensive management of the Company and the productivity
promoted wholly.
5. Investment income realized RMB 355,206,800 from Jan. to Sep. with an increase of 132.06%
y-o-y. Mainly due to the dramatically growth of profit from join-stock enterprise.
6. Monetary capital increase 47.62% over that of period-begin, mainly due to the cash in-flow
increased.
7. Note receivable increase 55.77% over that of period-begin, mainly due to the sharp growth in sales
volume.
8. Account receivable increase 49.93% over that of period-begin, mainly due to the sharp growth in
sales volume.
9. Long-term investment increase 33.05% over that of period-begin, mainly due to the incomes from
equity investment increased.
10. Construction in process increase 262.45% over that of period-begin, mainly due to the increase of
investment in technical innovation.
11. Net cash flow from operating activities increase 131.14% compared with same period of last year,
mainly due to the sales volume increased.
12. Cash in-flow from investment activities increase RMB 98,238,500 compared with same period of
last year, mainly due to the increase of cash received from investment income and investment return
profit.
13. Cash out-flow from investment activities increase RMB 278,434,700 compared with same period
of last year, mainly due to the cash paid for investment increased.
3.2 Progress of significant events, their influences, and analysis and explanation of their
solutions
3.2.1 Qualified opinion
□Applicable √Inapplicable
3.2.2 Particular about fund offers to controlling shareholders or associated parties and
external guarantee that against the regulation.
□Applicable √Inapplicable
3.2.3 Particular about signing and implementation on significant contracts of ordinary
management.
□Applicable √Inapplicable
3.2.4 Others
√Applicable □Inapplicable
1. the 9th Meeting of 6th Board of Directors held on 25 January 2010 for approving the followedWEIFU HIGH-TECHNOLOGY GROUP CO., LTD. THE THIRD QUARTERLY REPORT FOR 2010(FULL TEXT)
4
acquisition:
(1) 30% equity of “Wuxi Weifu Vehicle Diesel System Co., Ltd.” held by Wuxi Industry
Development Group Co., Ltd. (original Wuxi Weifu Group Co., Ltd.);
(2) 9.17% equity of “Wuxi Weifu International Trade Co., Ltd.” held by Wuxi Industry Development
Group Co., Ltd. (original Wuxi Weifu Group Co., Ltd.);
(3) 50% equity of “Kunmung Xitong Machinery Co., Ltd.” held by Wuxi Industry Development
Group Co., Ltd. (original Wuxi Weifu Group Co., Ltd.);
The abovementioned acquisitions have been approved in the General Shareholders’ Meeting on 3
March 2010. Till the end of this period, relevant equity acquisitions of “Wuxi Weifu Vehicle Diesel
System Co., Ltd.” and “Wuxi Weifu International Trade Co., Ltd.” have been done. The transfer price
for these acquisitions was RMB 127,500,900, till the end of this period, RMB 123,265,900 transfer
account have been paid by the Company.
2. The 12th Meeting of 6th Board of Directors were held on 9 August 2010, and approved to
purchased 51% equity from Ningbo Tianli Turbocharger Co., Ltd. via capital-increased by cash.
Acquisition price for this time was RMB 90.23 million, and the account has been paid by the
Company till the end of this period.
3. The 12th Meeting of 6th Board of Directors were held on 8 August 2010, and consenting that more
additional investment of RMB 30 million to Beijing Futian Environmental Dynamic Co., Ltd. from
Wuxi Weifu Lida Catalytic Converter—controlling subsidiary of the Company. Till the end of this
period, RMB 30 million have been paid.
4. The 12th Meeting of 6th Board of Directors was held on 8 August 2010, and consenting that carried
out the work of “retreat from urban area to industry zone”, till the end of this period, the work still in
the stage of planning.
3.3 Implementations of commitments by the Company, shareholders and actual controller
√Applicable □Inapplicable
Commitments Promiser Content of commitments Implementation
Commitments for
Share Merger
Reform
Wuxi
Industry
Developme
nt Group
Co., Ltd.
Net profit of RMB 8.5 hundred million gained
from 2006 to 2008, among which RMB 3.4
hundred million gained in 2008. Base on the
circulated A shares before the Share Merger
Reform, additional 0.5 shares distributed for every
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.
Implemented
Commitments
made in
Acquisition
Report or Reports
on Change in
Interests
Naught Naught Naught
Commitments
made in Material
Assets
Reorganization
Naught Naught Naught
Commitments
made in issuing Naught Naught Naught
Other
commitments
Wuxi
Industry
In order to promote the listed company’s steady
and healthy development, fully mobilize senior
The said
commitment isWEIFU HIGH-TECHNOLOGY GROUP CO., LTD. THE THIRD QUARTERLY REPORT FOR 2010(FULL TEXT)
5
(including
additional
commitments)
Developme
nt Group
Co., Ltd.
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.
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
3.5.1 Particular about security investment
□Applicable √Inapplicable
3.5.2 Activities on receiving research, communication and interview in the report period
Date Place Way The received
parties
Contents discussed and
materials supplied
5 July 2010
Conference
room of the
Company
Spot research KGI Operation status and future
development of the Company
15 July 2010
Conference
room of the
Company
Spot research
30-people union
research from
Orient Securities
Operation status and future
development of the Company
12 August 2010
Conference
room of the
Company
Spot research
20-people union
research from CITI
Securities
Operation status and future
development of the Company
9 September
2010
Conference
room of the
Company
Spot research
8-people union
research from
Guotai Junan
Securities
Operation status and future
development of the Company
15 September
2010
Conference
room of the
Company
Telephone
communication
Value Partners
Limited
Operation status and future
development of the Company
20 September
2010
Conference
room of the
Company
Spot research United Securities
and China AMC
Operation status and future
development of the Company
21 September
2010
Conference
room of the
Company
Spot research Everbright
Securities
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 periodWEIFU HIGH-TECHNOLOGY GROUP CO., LTD. THE THIRD QUARTERLY REPORT FOR 2010(FULL TEXT)
6
□Applicable √Inapplicable
§4. Appendix
4.1 Balance sheet
Prepared by Weifu High-Technology Group Co., Ltd. 30 Sep. 2010 Unit: RMB
Balance at Items Consolidation pePriaorde-netn Cd ompany ConsolBidaaltaionnce at yePara-rbeengt iCn ompany
Current assets:
Monetary funds 628,126,844.83 171,636,416.41 425,495,172.94 147,690,609.19
Settlement provisions
Capital lent
Transaction finance
asset
Notes receivable 706,662,470.71 181,581,581.44 453,653,565.32 213,409,328.00
Accounts receivable 1,119,066,527.04 788,522,568.83 746,386,907.24 551,362,144.36
Accounts paid in
advance 52,185,338.00 34,334,149.89 40,727,577.69 22,923,823.09
Insurance receivable
Reinsurance receivables
Contract reserve of
reinsurance receivable
Interest receivable
Dividend receivable 59,357,151.17 59,357,151.17 118,953,514.59 118,953,514.59
Other receivables 10,551,996.37 91,676,488.42 5,035,076.41 25,346,449.28
Purchase restituted
finance asset
Inventories 687,392,847.94 240,339,506.61 588,559,021.47 190,091,308.65
Non-current asset due
within one year
Other current assets 6,586,250.13 4,410,577.10
Total current assets 3,269,929,426.19 1,567,447,862.77 2,383,221,412.76 1,269,777,177.16
Non-current assets:
Granted loans and
advances
Finance asset available
for sales
Held-to-maturity
investment
Long-term account
receivable
Long-term equity
investment 1,793,232,969.59 2,386,657,248.92 1,347,808,607.78 1,856,146,852.35
Investment property 5,100,328.33 480,226.64
Fixed assets 1,100,095,371.64 585,755,807.78 1,152,721,081.59 636,153,023.49
Construction in progress 116,220,409.23 81,349,891.16 32,064,910.42 11,592,432.05
Engineering material
Disposal of fixed asset
Productive biological
asset
Oil and gas asset
Intangible assets 70,245,193.12 26,901,317.79 72,512,044.82 27,403,978.05
Expense on Research
and DevelopmentWEIFU HIGH-TECHNOLOGY GROUP CO., LTD. THE THIRD QUARTERLY REPORT FOR 2010(FULL TEXT)
7
Goodwill
Long-term expenses to
be apportioned 5,832,793.83 1,246,567.09
Deferred income tax
asset 44,810,483.35 10,428,930.54 45,816,731.92 11,960,179.88
Other non-current asset
Total non-current asset 3,135,537,549.09 3,091,093,196.19 2,652,650,170.26 2,543,256,465.82
Total assets 6,405,466,975.28 4,658,541,058.96 5,035,871,583.02 3,813,033,642.98
Current liabilities:
Short-term loans 667,222,128.52 635,000,000.00 532,985,925.72 466,985,925.72
Loan from central bank
Absorbing deposit and
interbank deposit
Capital borrowed
Transaction financial
liabilities
Notes payable 322,008,953.42 204,990,000.00 179,890,364.39 137,630,000.00
Accounts payable 1,474,112,523.39 809,118,011.26 861,714,156.40 556,506,677.80
Accounts received in
advance 55,018,625.09 33,744,197.12 27,104,569.77 13,403,217.65
Selling financial asset of
repurchase
Commission charge and
commission payable
Wage payable 193,115,101.47 89,867,387.57 179,549,521.47 97,631,080.36
Taxes payable 65,021,021.63 18,891,699.85 30,359,533.71 6,972,875.05
Interest payable 170,000.00 807,622.50 620,000.00
Dividend payable
Other accounts payable 63,635,108.76 60,265,032.00 95,854,679.34 57,502,685.46
Reinsurance payables
Insurance contract
reserve
Security trading of
agency
Security sales of agency
Non-current liabilities
due within 1 year
Other current liabilities 3,381,918.50 887,248.90 3,946,860.41
Total current liabilities 2,843,685,380.78 1,852,763,576.70 1,912,213,233.71 1,337,252,462.04
Non-current liabilities:
Long-term loans 3,000,000.00 3,000,000.00
Bonds payable
Long-term account
payable 16,730,000.00 16,730,000.00
Special accounts
payable
Projected liabilities 1,481,745.84 1,481,745.84
Deferred income tax
liabilities
Other non-current
liabilities 12,923,100.00 4,060,000.00 11,675,000.00 4,060,000.00
Total non-current liabilities 32,653,100.00 5,541,745.84 31,405,000.00 5,541,745.84
Total liabilities 2,876,338,480.78 1,858,305,322.54 1,943,618,233.71 1,342,794,207.88
Owner’s equity (or
shareholders’ equity):
Paid-in capital (or share 567,275,995.00 567,275,995.00 567,275,995.00 567,275,995.00WEIFU HIGH-TECHNOLOGY GROUP CO., LTD. THE THIRD QUARTERLY REPORT FOR 2010(FULL TEXT)
8
capital)
Capital public reserve 901,503,251.69 923,981,806.57 907,580,308.28 923,981,806.57
Less: Inventory shares
Reasonable reserve
Surplus public reserve 283,637,997.50 283,637,997.50 283,637,997.50 283,637,997.50
Provision of general risk
Retained profit 1,635,917,675.92 1,025,339,937.35 1,104,176,257.99 695,343,636.03
Balance difference of
foreign currency translation
Total owner’s equity
attributable to parent
company
3,388,334,920.11 2,800,235,736.42 2,862,670,558.77 2,470,239,435.10
Minority interests 140,793,574.39 229,582,790.54
Total owner’s equity 3,529,128,494.50 2,800,235,736.42 3,092,253,349.31 2,470,239,435.10
Total liabilities and owner’s
equity 6,405,466,975.28 4,658,541,058.96 5,035,871,583.02 3,813,033,642.98
4.2 Profit statement in the report period
Prepared by Weifu High-Technology Group Co., Ltd. July-Sep. 2010 Unit: RMB
Items ConsolAidmatoiounn t in thiPsa preenrito Cd ompany ConsoAlimdaotuionnt in laPsatr penert iCodo mpany
I. Total operating income 1,326,188,298.11 699,629,841.29 860,789,855.98 483,336,821.44
Including: Operating income 1,326,188,298.11 699,629,841.29 860,789,855.98 483,336,821.44
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 1,156,072,488.96 621,583,870.17 823,445,206.27 469,783,985.27
Including: Operating cost 1,032,907,120.72 557,970,653.80 669,604,975.27 401,574,614.34
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
slip
Reinsurance expense
Operating tax and extras 8,718,701.68 3,545,726.20 4,932,133.98 2,714,990.78
Sales expenses 28,771,114.41 16,152,177.11 32,349,669.61 23,884,080.99
Administration expenses 76,125,882.86 32,458,945.36 106,699,350.89 34,381,132.17
Financial expenses 16,467,058.96 11,846,243.87 9,902,211.80 7,229,166.99
Losses of devaluation of asset -6,917,389.67 -389,876.17 -43,135.28
Add: Changing income of fair
value(Loss is listed with “-”)
Investment income (Loss is
listed with “-”) 153,288,779.38 145,253,793.27 102,830,164.13 91,020,002.03
Including: Investment income
on affiliated company and joint
venture
153,288,779.38 145,253,793.27 99,752,064.13 91,020,002.03
Exchange income (Loss is
listed with “-”)
III. Operating profit (Loss is
listed with “-”) 323,404,588.53 223,299,764.39 140,174,813.84 104,572,838.20WEIFU HIGH-TECHNOLOGY GROUP CO., LTD. THE THIRD QUARTERLY REPORT FOR 2010(FULL TEXT)
9
Add: Non-operating income 610,562.18 194,657.86 8,389,044.67 291,345.80
Less: Non-operating expense 1,722,891.04 706,173.51 1,798,313.13 884,707.01
Including: Disposal loss of
non-current asset 132,087.93 6,543.67 788,296.50 401,370.19
IV. Total Profit (Loss is listed
with “-”) 322,292,259.67 222,788,248.74 146,765,545.38 103,979,476.99
Less: Income tax expense 15,583,560.30 4,488,649.74 3,909,773.87
V. Net profit (Net loss is listed with
“-”) 306,708,699.37 218,299,599.00 142,855,771.51 103,979,476.99
Net profit attributable to
owner’s of parent company 297,725,355.66 218,299,599.00 137,991,147.35 103,979,476.99
Minority shareholders’ gains
and losses 8,983,343.71 4,864,624.16
VI. Earnings per share
i. Basic earnings per share 0.52 0.38 0.24 0.18
ii. Diluted earnings per share 0.52 0.38 0.24 0.18
VII. Other consolidated income
VIII. Total consolidated income 306,708,699.37 218,299,599.00 142,855,771.51 103,979,476.99
Total consolidated income
attributable to owners of parent
company
297,725,355.66 218,299,599.00 137,991,147.35 103,979,476.99
Total consolidated income
attributable to minority
shareholders
8,983,343.71 4,864,624.16
4.3 Profit statement from year-begin to the end of report period
Prepared by Weifu High-Technology Group Co., Ltd. Jan.-Sep. 2010 Unit: RMB
Amount i Items Consolidation n thiPs apreerniot dC ompany ConsoliAdamtioounn t in lasPta preenrito Cd o mpany
I. Total operating income 3,976,875,434.09 2,027,554,850.52 2,121,938,269.30 1,217,442,367.70
Including: Operating income 3,976,875,434.09 2,027,554,850.52 2,121,938,269.30 1,217,442,367.70
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 3,640,197,387.05 1,923,381,756.63 2,032,294,287.95 1,194,607,750.69
Including: Operating cost 3,125,962,908.32 1,727,975,055.97 1,706,806,742.76 1,058,259,246.22
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 slip
Reinsurance expense
Operating tax and
extras 25,010,319.06 9,979,232.93 13,576,435.37 6,154,761.50
Sales expenses 104,027,226.24 53,762,858.07 59,539,955.29 40,598,022.57
Administration
expenses 367,432,387.19 117,601,282.35 227,179,135.75 69,884,691.11
Financial expenses 33,906,337.26 24,444,368.87 25,088,455.59 20,236,540.50WEIFU HIGH-TECHNOLOGY GROUP CO., LTD. THE THIRD QUARTERLY REPORT FOR 2010(FULL TEXT)
10
Losses of devaluation
of asset -16,141,791.02 -10,381,041.56 103,563.19 -525,511.21
Add: Changing income
of fair value(Loss is listed
with “-”)
Investment income
(Loss is listed with “-”) 355,206,778.10 323,446,912.84 153,068,051.08 165,884,948.26
Including: Investment
income on affiliated
company and joint venture
353,396,778.10 321,636,912.84 149,089,951.08 131,474,776.38
Exchange income (Loss
is listed with “-”)
III. Operating profit (Loss
is listed with “-”) 691,884,825.14 427,620,006.73 242,712,032.43 188,719,565.27
Add: Non-operating
income 1,283,503.52 580,549.69 11,822,023.38 395,915.68
Less: Non-operating
expense 9,326,777.56 5,679,668.71 5,314,301.44 3,292,186.67
Including: Disposal loss
of non-current asset 4,088,036.60 3,142,925.86 2,366,370.43 1,819,416.30
IV. Total Profit (Loss is
listed with “-”) 683,841,551.10 422,520,887.71 249,219,754.37 185,823,294.28
Less: Income tax
expense 40,639,596.64 7,433,187.14 12,158,337.26 -34,154.05
V. Net profit (Net loss is
listed with “-”) 643,201,954.46 415,087,700.57 237,061,417.11 185,857,448.33
Net profit attributable
to owner’s of parent
company
616,832,817.18 415,087,700.57 225,834,094.15 185,857,448.33
Minority shareholders’
gains and losses 26,369,137.28 11,227,322.96
VI. Earnings per share
i. Basic earnings per share 1.09 0.73 0.40 0.33
ii. Diluted earnings per share 1.09 0.73 0.40 0.33
VII. Other consolidated
income
VIII. Total consolidated
income 643,201,954.46 415,087,700.57 237,061,417.11 185,857,448.33
Total consolidated income
attributable to owners of
parent company
616,832,817.18 415,087,700.57 225,834,094.15 185,857,448.33
Total consolidated income
attributable to minority
shareholders
26,369,137.28 11,227,322.96
4.4 Cash flow statement from year-begin to the end of report period
Prepared by Weifu High-Technology Group Co., Ltd. Jan.-Sep. 2010 Unit: RMB
Amount i Items Consolidation n tPhiasr epnetr iCoodm pany ConsoAlimdaotuionnt in lPasatr epnetr iCoodm pany
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor
services
3,595,593,993.52 2,105,209,010.87 1,914,589,089.03 1,174,098,509.06
Net increase of customer deposit
and interbank depositWEIFU HIGH-TECHNOLOGY GROUP CO., LTD. THE THIRD QUARTERLY REPORT FOR 2010(FULL TEXT)
11
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 18,028,224.82 15,595,746.79
Other cash received concerning
operating activities 16,481,618.68 5,508,407.70 17,973,405.65 9,462,660.85
Subtotal of cash inflow arising
from operating activities 3,630,103,837.02 2,110,717,418.57 1,948,158,241.47 1,183,561,169.91
Cash paid for purchasing
commodities and receiving labor service 2,437,628,830.62 1,618,869,216.55 1,284,545,100.19 955,533,765.20
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 318,903,593.76 140,338,833.00 232,685,022.63 109,217,197.92
Taxes paid 287,132,055.84 107,037,310.66 144,682,277.12 55,133,161.26
Other cash paid concerning
operating activities 155,899,809.44 74,177,114.92 99,978,048.59 51,138,715.62
Subtotal of cash outflow arising
from operating activities 3,199,564,289.66 1,940,422,475.13 1,761,890,448.53 1,171,022,840.00
Net cash flows arising from
operating activities 430,539,547.36 170,294,943.44 186,267,792.94 12,538,329.91
II. Cash flows arising from investing
activities:
Cash received from recovering
investment 29,970,000.00 3,933,600.00
Cash received from investment income 74,056,484.69 74,056,484.69 6,761,910.00 40,272,081.88
Net cash received from disposal of
fixed, intangible and other long-term
assets
11,881,490.69 8,690,023.34 6,973,959.13 3,175,561.43
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
investing activities
Subtotal of cash inflow from
investing activities 115,907,975.38 82,746,508.03 17,669,469.13 43,447,643.31WEIFU HIGH-TECHNOLOGY GROUP CO., LTD. THE THIRD QUARTERLY REPORT FOR 2010(FULL TEXT)
12
Cash paid for purchasing fixed,
intangible and other long-term assets 158,940,205.61 81,304,566.67 113,549,085.31 28,719,177.57
Cash paid for investment 257,743,605.00 221,523,605.00 24,700,000.00 24,700,000.00
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 416,683,810.61 302,828,171.67 138,249,085.31 53,419,177.57
Net cash flows arising from
investing activities -300,775,835.23 -220,081,663.64 -120,579,616.18 -9,971,534.26
III. Cash flows arising from financing
activities
Cash received from absorbing
investment 2,030,490.00
Including: Cash received from
absorbing minority shareholders’
investment by subsidiaries
2,030,490.00
Cash received from loans 1,514,832,087.88 1,432,609,959.36 1,126,000,000.00 850,000,000.00
Cash received from issuing bonds
Other cash received concerning
financing activities
Subtotal of cash inflow from
financing activities 1,516,862,577.88 1,432,609,959.36 1,126,000,000.00 850,000,000.00
Cash paid for settling debts 1,380,595,885.08 1,264,595,885.08 1,258,036,725.49 825,000,000.00
Cash paid for dividend and profit
distributing or interest paying 109,861,219.36 107,381,546.86 103,912,014.44 95,201,530.11
Including: Dividend and profit of
minority shareholder paid by subsidiaries
Other cash paid concerning
financing activities 2,265,668.46
Subtotal of cash outflow from
financing activities 1,492,722,772.90 1,371,977,431.94 1,361,948,739.93 920,201,530.11
Net cash flows arising from
financing activities 24,139,804.98 60,632,527.42 -235,948,739.93 -70,201,530.11
IV. Influence on cash and cash
equivalents due to fluctuation in
exchange rate
V. Net increase of cash and cash
equivalents 153,903,517.11 10,845,807.22 -170,260,563.17 -67,634,734.46
Add: Balance of cash and cash
equivalents at the period -begin 327,527,351.45 85,790,609.19 497,478,381.02 141,771,078.18
VI. Balance of cash and cash equivalents
at the period -end 481,430,868.56 96,636,416.41 327,217,817.85 74,136,343.72
4.5 Auditor’s report
Auditor’s opinions: Un-audited
Board of Directors of
Weifu High-technology Group Co., Ltd.
October 27, 2010
