无锡威孚高科技集团股份有限公司 2013 半年度报告全文
WEIFU HIGH-TECHNOLOGY GROUP CO., LTD.
SEMI-ANNUAL REPORT 2013
August 2013
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Section I. Important Notice, Contents and Paraphrase
Board of Directors, Supervisory Committee, all directors, supervisors and senior
executives of Weifu High-Technology Group Co., Ltd. (hereinafter referred to as
the Company) 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.
All directors are attended the Board Meeting for report deliberation.
The Company has no plans of cash dividend distributed, no bonus shares and
has no share converted from capital reserve either.
Chen Xuejun, Principal of the Company, Ou Jianbin, person in charger of
accounting works and Ou Jianbin, person in charge of accounting organ
(accounting principal) hereby confirm that the Financial Report of Semi-Annual
Report 2013 is authentic, accurate and complete.
This report has been prepared in Chinese and English version respectively. In
the event of difference in interpretation between the two versions, Chinese
version shall prevail.
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Contents
Section I Important Notice, Contents and Paraphrase .................................................................. 2
Section II Company Profile ............................................................................................................... 5
Section III Accounting data and summary of finnaical indexes .................................................... 7
Section IV Report of the Board of Directors ................................................................................... 9
Section V Important Events ............................................................................................................ 21
Section VI Changes in shares and particular about shareholders............................................... 29
Section VII Particulars about Directors, Superviosrs and Senior Executives............................ 33
Section VIII Financial Report ......................................................................................................... 34
Section IX Documents available for reference ............................................................................ 131
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Paraphrase
Items Refers to Contents
Company, The Company, Wei-fu High-technology Refers to Weifu High-Technology Group Co., Ltd.
Industry Group、Wuxi Industry Group Refers to Wuxi Industry Development Group Co., Ltd.
Robert Bosch Refers to Robert Bosch Co., Ltd. (ROBERT BOSCH GMBH)
Bosch Automobile Diesel、Bosch Automobile Diesel System Refers to Bosch Automobile Diesel System Co., Ltd
Weifu Automotive Diesel、Weifu Diesel System Refers to Wuxi Weifu Automotive Diesel System Co., Ltd.
Weifu Leader Refers to Wuxi Weifu Leader Catalytic Converter Co., Ltd.
Weifu Jinning Refers to Nanjing Weifu Jinning Co., Ltd.
Weifu Chang’an Refers to Wuxi Weifu Chang’an Co., Ltd.
Weifu Mashan Refers to Weifu Mashan Pump Glib Co., Ltd.
Weifu ITM Refers to Wuxi Weifu ITM Supercharging Technique Co., Ltd.
Weifu International Trade Refers to Wuxi Weifu International Trade Co., Ltd.
Weifu Tianli Refers to Ningbo Weifu Tianli Supercharging Technique Co., Ltd.
Wuxi Weifu Schmidt Power System Spare Parts Co.,
Weifu Schmidt Refers to
Ltd.
Chaoyang Weifu Jialin Machinery Manufacture Co.,
Weifu Jialin Refers to
Ltd.
Kunming Xitong Refers to Kunming Xitong Machinery Co., Ltd.
Weifu Autocam Refers to Wuxi Weifu Autocam Fine Machinery Co. Ltd.
Weifu Tianshi Refers to Anhui Weifu Tianshi Machinery Co., Ltd.
Weifu Nano Refers to Jiangsu Weifu Nano Technology Co., Ltd.
Weifu Instrument Refers to Wuxi Weifu Instrument Making Co., Ltd.
Weifu Environment Refers to Wuxi Weifu Environment Catalyst Co., Ltd.
CNEMS Refers to CNEMS
SDEC Refers to Shanghai Diesel Engine Co., Ltd.
Miracle Logistics Refers to Miracle Automation Engineering Co., Ltd.
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Section II Company profile
I. Company profile
Short form of the stock Weifu High- Tech, Su Weifu-B Stock code 000581, 200581
Stock exchange for listing Shenzhen Stock Exchange
Chinese name of the Company 无锡威孚高科技集团股份有限公司
Abbr. of Chinese name of the Company(if
威孚高科
applicable)
English name of the Company(if applicable) WEIFU HIGH-TECHNOLOGY GROUP CO.,LTD.
Abbr. of English name of the Company(if
WFHT
applicable)
Legal Representative Chen Xuejun
II. Person/Way to contact
Secretary of the Board Rep. of security affairs
Name Zhou Weixing Yan Guohong
Contact add. No.107, Renmin West Road, Wuxi City No.107, Renmin West Road, Wuxi City
Tel. 0510-82719579 0510-82719579
Fax. 0510-82751025 0510-82751025
E-mail wfjt@public1.wx.js.cn wfjt@public1.wx.js.cn
III. Others
1. Way of contact
Whether registrations address, offices address and codes as well as website and email of the Company changed in reporting period or
not
□ Applicable √ Not applicable
Registrations address, offices address and codes as well as website and email of the Company has no change in reporting period,
found more details in Annual Report 2012.
2. Information disclosure and preparation place
Whether information disclosure and preparation place changed in reporting period or not
□ Applicable √ Not applicable
The newspaper appointed for information disclosure, website for semi-annual report publish appointed by CSRC and preparation
place for semi-annual report have no change in reporting period, found more details in Annual Report 2012.
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
3. Registration changes of the Company
Whether registration has changed in reporting period or not
□ Applicable √ Not applicable
Date/place for registration of the Company, registration number for enterprise legal license, number of taxation registration and
organization code have no change in reporting period, found more details in Annual Report 2012.
4. Other relevant information
Whether other relevant information has changed in reporting period or not
□ Applicable √ Not applicable
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Section III. Accounting data and summary of financial indexes
I. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accounting
error correction or not
□Yes √ No
Same period of last Increase/decrease in this
Current period
year report y-o-y (%)
Operating revenue (RMB) 2,878,965,006.18 2,622,741,134.00 9.77%
Net profit attributable to shareholders of the listed
531,953,834.22 446,281,174.98 19.2%
company(RMB)
Net profit attributable to shareholders of the listed company
510,092,554.23 443,915,741.43 14.91%
after deducting non-recurring gains and losses(RMB)
Net cash flow arising from operating activities(RMB) 318,573,288.00 437,635,548.02 -27.21%
Basic earnings per share (RMB/Share) 0.78 0.69 13.04%
Diluted earnings per share (RMB/Share) 0.78 0.69 13.04%
Weighted average ROE (%) 5.94% 6.18% -0.24%
Increase/decrease in this
End of current
End of last period report-end over that of last
period
period-end (%)
Total assets (RMB) 12,670,528,489.23 11,055,973,932.34 14.6%
Net assets attributable to shareholder of listed
9,049,683,965.96 8,655,980,755.24 4.55%
company(RMB)
II. Difference of the accounting data under accounting rules in and out of China
1. Difference of the net profit and net assets disclosed in financial report, under both IAS (International
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles)
In RMB
Net profit attributable to shareholders of listed Net assets attributable to shareholders of listed
company company
Amount at
Amount in this period Amount in last period Amount at period-end
period-begin
Chinese GAAP 531,953,834.22 446,281,174.98 9,049,683,965.96 8,655,980,755.24
Items and amount adjusted by IAS
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
2. Difference of the net profit and net assets disclosed in financial report, under both foreign accounting
rules and Chinese GAAP (Generally Accepted Accounting Principles)
In RMB
Net profit attributable to shareholders of listed Net assets attributable to shareholders of listed
company company
Amount at
Amount in this period Amount in last period Amount at period-end
period-begin
Chinese GAAP 531,953,834.22 446,281,174.98 9,049,683,965.96 8,655,980,755.24
Items and amount adjusted by foreign accounting rules
3. Reasons for the differences of accounting data under accounting rules in and out of China
III. Items and amounts of extraordinary profit (gains)/loss
In RMB
Item Amount Note
Gains/losses from the disposal of non-current asset (including the write-off that accrued for
-443,140.30
impairment of assets)
Governmental subsidy reckoned into current gains/losses (not including the subsidy enjoyed in
quota or ration according to national standards, which are closely relevant to enterprise’s 195,025.00
business)
Profit and loss of assets delegation on others’ investment or management 25,157,496.58
Other non-operating income and expenditure except for the aforementioned items 511,127.14
Less: Impact on income tax 3,896,369.83
Impact on minority shareholders’ equity (post-tax) -337,141.40
Total 21,861,279.99 --
Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Extraordinary Profit/loss, explain reasons
□ Applicable √ Not applicable
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Section IV. Report of the Board of Directors
I. Introduction
According to the data released by China Association of Automobile Manufacturers: in first half year of 2013,
production and sales of the automobile in China up to 10,751,700 and 107,822 with a y-o-y growth of 12.8
percent and 12.3 percent respectively; among which, passenger cars shows 8,664,500 and 8,665,100 in production
and sales respectively with 14.02 percent and 13.81 percent growth y-o-y and the commercial vehicle has
2,087,200 and 2,117,100 in production and sales respectively with 8.15 percent and 6.68 percent up y-o-y. In
reporting period, benefit from the development of automobile industry and the restorative growth of commercial
vehicle, production and sales of heavy truck in particular, the Company seize market opportunity, speed up the
promotion of new products, impelemented the industrial restructuring, strengthen control of the internal risks,
improved early warning mechanism, push forward the construction of inner management system and procedures,
carried out lean operation and cost reduction, optimized the quality management, improve the cost optimization
and control ability and upgrade the core competence, the Company’s operation gains a steady growth as a result.
In reporting period, the Company achieved operation revenue of RMB 2,878,965,000, a 9.77 percent up from a
year earlier; net profit amounting as RMB 606,074,000, increase 13.64 percent from a year ago and the net profit
attributable to owner’s of the parent company was RMB 531,953,800, increase 19.2 percent from a year ago.
II. Main business analysis
Introduction
In the reporting, the company’s main business was automotive component and parts industry with no changes,
mainly engaged in the development, manufactures and sales of automotive fuel injection system, automotive
post-processing system and intake system of engine.
In reporting period, the Company achieved operation revenue of RMB 2878.965 million, a 9.77 percent up from a
year ago; changes of operation revenue, cost and expenses are as below:
Year-on-year changes for main financial data
In RMB
Y-o-y
Same period of increase/
Current period Reasons for changes
last year decrease
(%)
Operation revenue 2,878,965,006.18 2,622,741,134.00 9.77%
Operation cost 2,221,406,094.80 1,935,729,790.13 14.76%
Sales expenses 81,319,229.85 87,922,067.65 -7.51%
Administrative expenses 275,092,115.54 220,879,377.54 24.54%
Financial cost -27,181,590.78 -12,478,749.75 mainly because the interest
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
income increased
Income tax expense 52,038,268.65 60,396,042.65 -13.84%
Net cash flow arising from operation activities 318,573,288.00 437,635,548.02 -27.21%
mainly because invetment
Net cash flow arising from investment activities -885,628,740.58 -586,576,066.82 for bank financing
products increased
Resulted by fund raised from
Net cash flow arising from financing activities 303,169,088.85 2,346,614,505.84 -87.08% private placement at same
period of last year
Resulted by fund raised from
-112.01
Net increase of cash and cash equivalent -263,886,363.73 2,197,673,987.04 private placement at same
%
period of last year
Major changes on profit composition or profit resources in reporting period
□ Applicable √ Not applicable
No major changes on profit composition or profit resources occurred in reporting period
The future development and planning extended to reporting period that published in disclosure documents as prospectus, private
placing memorandum and recapitalize statement
□ Applicable √ Not applicable
No future development and planning extended to reporting period that published in disclosure documents as prospectus, private
placing memorandum and recapitalize statement
Review on the previous business plan and its progress during reporting period
In general, the Company has a stable economical operation in the first half year of 2013, however, the
macro-economic situation in second half year still complex, Board of the Company will seize development
opportunity based on the development of economic situation and trend of the market changes, focus on the follow
works: strengthen the market, strictly control the risks, promoted strategic restructuring of the economy, improved
the Company’s core competence, and continues to implemented the development strategy of the Company.
Continued to prepare the warm-up for implementation of emission regulation of Standard Four and
market-einfuehrung, guarantee a sustainable development for the Company and set the stage for further
development of the Company.
III. Constitution of main business
In RMB
Increase or Increase or Increase or
decrease of decrease of decrease of gross
Operating Gross profit
Operating cost operating revenue operating cost profit ratio over
revenue ratio (%)
over same period over same period same period of
of last year (%) of last year (%) last year (%)
According to industries
Auto parts 2,653,564,877.88 2,017,109,946.68 23.98% 8.85% 14.08% -3.49%
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
According to products
Auto fuel injection
2,053,972,523.57 1,513,096,920.14 26.33% 6.64% 12.37% -3.76%
system
Induction system 87,486,778.13 63,882,254.47 26.98% 2.48% 5.48% -2.07%
Post-processing
512,105,576.18 440,130,772.07 14.05% 20.1% 21.87% -1.25%
system
According to region
Domestic sales 2,512,968,209.41 1,884,690,405.41 25% 10.47% 17.05% -4.21%
Overseas sales 140,596,668.47 132,419,541.27 5.82% -13.79% -16.19% 2.7%
IV. Core competitive analysis
Core competence of the Company has no major changes in reporting period.
V. Investment analysis
1. Situation of equity investment outside
(1) Situation of investment outside
Investment outside
Investment in same period of last year
Investment in reporting period (RMB) Changes (%)
(RMB)
1,401,687.00 343,815,000.00 -99.59%
Invested company
Equity proportion in invested company
Name Main business
for Listed company (%)
Weifu Autocam Auto parts 51%
(2)Holding equity of financial enterprise
Amount of Proportion
Amount of Proportion
stock-holdi of
stock-holdi of Book value at Gains and
Initial ng at the stock-holdi Account
ng at the stock-holdi the end of the loss in the Sourc
Name Type investment beginning ng at the ing
cost(RMB) end of the ng at the period reporting e of
of the beginning subject
period end of the (RMB) (RMB) stock
period of the
(Share) period (%)
(Share) period (%)
Guolian Securi Long-ter Subsc
12,000,000.00 18,000,000 1.2% 18,000,000 1.2% 12,000,000.00 360,000.00
Securities ties m equity riptio
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Co., Ltd. compa investme n
ny nt
Nanjing
Insura Long-ter
Hengtai Subsc
nce m equity
Insurance 1,000,000.00 1,000,000 1.85% 1,000,000 1.85% 1,000,000.00 riptio
compa investme
and Broker n
ny nt
Co., Ltd.
Total 13,000,000.00 19,000,000 -- 19,000,000 -- 13,000,000.00 360,000.00 -- --
(3)Situation of securities investment
Amount of Proportion Proportio Gains
Amount of
stock-holdi of n of and
Variety Code Short stock-holdi Book value at
Initial ng at the stock-holdi stock-hol loss in
of of form of ng at the the end of the Accountin Source
investment beginning ng at the ding at the the
securiti securiti securiti end of the
cost(RMB) period g subject of stock
es es es of the beginning end of the reporti
period (RMB)
period of the period ng
(Share)
(Share) period (% (%) (RMB)
Financial
SDEC 199,208,000. 328,441,600. assets Subscrip
Stock 600841 23,680,000 2.72% 23,680,000 2.72%
00 00 available tion
for sales
Financial
Miracle
69,331,500.0 83,979,000.0 assets Subscrip
Stock 002009 Logisti 9,300,000 2.9%
0 0 available tion
cs
for sales
268,539,500. 412,420,600.
Total 23,680,000 -- 32,980,000 -- 0.00 -- --
00 00
Disclosure date of
securities investment 2012-03-24
approval of Board report
Statement of holding other listed companies’ equity
√ Applicable □ Not applicable
Being deliberated and approved in 23th meeting of 6th session of the Board dated 24 March 2012, the Company subscribe
14,800,000 private placement of A-share from SDEC with RMB 13.46 per share, a 2.72 percent in total share capital of SDEC after
placement. The Company committed no transfer after the subscription in 12 months, restricted period (23 March 2012 to 22 March
2013). SDEC implemented the plan of annual profit distribution and converting capital reserve into share capital for 2011 on 4th June
2012. (Sending cash of RMB 0.5(tax included) per every 10 shares, converting 6 shares per every 10 shares. In the reporting, the
company held SDEC 23.68 million shares.
In May 2013, in line with the define authority in ―Desicion-making System of Major Investment and Financial‖, being discussed by
the management and approved from the Chairman, the Company decide to subscribe 9300000 private placement shares from Miracle
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Logistics with RMB 7.455 per share, a 2.9 percent in total share capital of Miracle Logistics after placement. The Company
committed no transfer after the subscription in 12 moneths, restricted period (4 June 2013 to 3 June 2014)
2. Trust financing, investment of derivatives and entrustment loan
(1) Trust financing
In 10 thousand Yuan
Amount Amount of
of reserve for
Whether Start
Related Amount of End date Determination principa devaluation Actual
Name of related date of Estimate
relations Type trust of trust method of l actual of gains/losse
trustee trade or trust d income
hip financing financin reward taking withdrawin s in period
not financin
g back in g (if
g
period applicable)
Floating rate,
maximized
Bank, Floating 2013-01- 2015-11
No No 137,575 annualized ate 64,400 0 5,738.79 3,266.7
trust profit 05 -26
of return agreed
in contract
Total 137,575 -- -- -- 64,400 5,738.79 3,266.7
All refers to the self-owned capital of the Company. The trust financing was cumulative
Capital resource amount; the actual capital for trust financing is RMB 2 billion at most, and recyclable within
the limit.
Overdue un-received principal and
0
accumulated earnings amount
Disclosure date for approval from the
Board for trust financing (if 2013-03-28
applicable)
(2) Investment of derivatives
In 10 thousand Yuan
Ratio of
Amount of investment
Invest
reserve for amount at
Whether ment Actual
Related Investment devaluation period-end
related Initial amount gains/lo
Operator relationsh Type End amount at of in net assets
trade or investment Start date at sses in
ip date period-begin withdrawing of the
not period- period
(if Company at
end
applicable) period-end
(%)
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Total 0 -- -- 0 0 0% 0
Capital resource N/A
(3) Entrustment loan
In 10 thousand Yuan
Whether
the related Amount of Interest Guarantor or Use of loan
Loan object
party or loan rate of loan collateral object’s fund
not
Total -- 0 -- -- --
3. Application of raised proceeds
(1)Overall application of raised proceeds
In 10 thousand Yuan
Total raised proceeds 285,012.43
Total raised proceeds invested during the reporting period 7,647.58
Total accumulative raised proceeds invested 169,723.32
Total raised proceeds for new purposes during the reporting period 0
Total accumulative raised proceeds for new purposes 0
Proportion of the total accumulative raised proceeds for new purposes (%) 0%
General application of raised proceeds
On 21 January 2012, the CSRC issued the reply on approving non-public issuance of Weifu High-technology Group Co., Ltd.
(ZJXK(2012)No.109), pursuant to which, the Company was approved to issue new shares not exceeding 112,858,000 by
non-public offering. On 10 February 2012, Jiangsu Gongzheng Tianye Certified Public Accountant issued capital verification report
(SGW(2012)No.B006), stating that as at 10 February 2012, Weifu High-tech has already issued 112,858,000 RMB common shares
(A-share) and raised capital proceeds of RMB2,866,028,910.00. after deduction of issuance expense of RMB15,904,657.07, the net
raise proceeds was RMB2,850,124,252.93. Total RMB 76.4758 million raise proceeds was invested in reporting period, as of the
period-end, raise proceeds of RMB 1,697,233,200 has been invested accumulatively. In consideration of the uncertainty of emission
regulation promotion (Standard Three turns to Standard Four), and the lands are in short supply at the mean time, the original
investment plan of ―Industrialization of tail treatment system‖ met no needs of the Weifu Leader in aspect of development.
Therefore, part of the content in ―Industrialization of tail treatment system‖ was changed by the Company. The abovementioned
event has been deliberated and approve by 9th meeting of 7th session of the Board held on 26 March 2013 and annual shareholders’
general meeting of 2012 held on 23 May 2013 respectively, the ―Proposal of Changing the Investment Plan with Raised Proceeds‖
was published on appointed media dated 28 March 2013, found more details in Notice No.: 2013-007 published on appointed
media. The adjustment for the investment plan of ―Industrialization of tail treatment system‖ changes no investment orientation of
the raised proceeds and actual content of the plan has no changed, investment amount changed from RMB 260 million to RMB 340
million, and the adjusted part will supply with self-owned capital without affect the implementation of investment plan with raised
proceeds. The project expected to reach serviceable condition after adjustment in June 2015. The adjustment guarantees a normal
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
utilization of raised proceeds and smoothly implementation of projects of raised proceeds, and in line with the actual condition of
the Company and long-term development plan.
(2) Situation of committed project of raised proceeds
In 10 thousand Yuan
Total
investment
after Amount of Project
Projects Amount Investment Predicted Reach
Committed Total adjustment accumulated Profit feasibility
changed (1) program serviceable the
investment committed
projects
or not
investment invested investment realized was
(including till the condition predicted
&investment of of raised till the in this changed
changed in this period-end date of interest
raised fund capitals
partially) period-end year hugely or
(3)=(2)/(1) project or not
period (2) not
Investment project commitment
R&D of WAPS, No No
industrialization,
productivity
62,032 62,032 704.73 19,274.42 31.07% 2013-10-31
expansion of
diesel common
rail system parts
Construction No No
project in 57,750 57,750 4,584.61 6,514.18 11.28% 2013-10-31
industrial zone
Industrialization No
of tail treatment Yes 26,000 26,000 2,358.24 14,704.29 56.56% 2015-06-30
system
Research No No
5,154 5,154 0 5,154 100% 2012-12-31
institution project
Battery material No No
of engines and 10,000 10,000 0 0 0% 2012-12-31
R&D of battery
Equity No No
34,381.5 34,381.5 0 34,381.5 100% 2012-06-30 1,079.09
acquisition
Liquid assets No No
90,000 89,694.93 0 89,694.93 100%
supplementation
Subtotal of
commitment -- 285,317.5 285,012.43 7,647.58 169,723.32 -- -- 1,079.09 -- --
projects
Investment orientation for fund arising out of plan
Total -- 285,317.5 285,012.43 7,647.58 169,723.32 -- -- 1,079.09 -- --
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
1. WAPS research development and industrial diesel common rail system components capacity enhancement
project--under the feasibility report of this project, the investment plan will reaches serviceable condition on 31
October 2013. As of 30 June 2013, the accumulative investment amounted to RMB 192,744,200 representing
investment progress of 31.07%. Reason for lag behind the progress including:
(1)the raised proceeds was not in place in time (the proceeds was expected to be in place in March 2011, while the
actual cash time was February 2012);
(2) The project has WAPS system products involved, which was self-developed by the Company without example,
the products will promotion to the customers after work of consistency and reliability improved.
(3) Investment planned for fixed assets of the project was RMB500 million, among which, imported equipments
accounts for 65%, for purpose of strictly control the risks, delivery of the imported equipment will delay according
Situation about
to the implementation process. For that reason, the Company will well-organized the investment process in line
not coming up to
with the implementation process of Standard Four and foreseeable market requirements with purpose of protecting
schemed
shareholders’ interest maximumly.
progress or
2. According to the feasibility report, the construction of industry park project will reaches expected serviceable
expected revenue
condition on 31 October 2013, as of 30 June 2013, capital of RMB 65.1418 million was invested in total,
and the reason(In
representing 11.28% in investment progress. Reasons for far from the expected progress are:
specific project)
(1) in 2012, the project not to start as scheduled due to the relocation of governmental parcel;
(2) In 1Q of 2013, relocation of government parcel was completed, the project start in April officially and in a
good process recently.
3. Battery material of engines and R&D of battery --under the feasibility report of this project, the investment plan
will reached serviceable condition on 31 December 2012. As of 31 December 2012, RMB 0.00 was invested.
Reasons are as:
(1) the raised proceeds was not in place in time;
(2) In recently two year, the Company continues to tracking the projects, due to an uncertainty in aspect of
technology and policy, therefore, the Company was prudent for this project and continued to follow development
of power battery and would make decisions if needed.
Explanation on
great changes of
Not applicable
feasibility of
project
Amount, usage
and progress of
using for fund Not applicable
raising out of the
plan
Change of
implementation
place of
Not applicable
investment
project of raised
capitals
Adjustment of Applicable
16
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
implementation Occurred in reporting period
way for
In consideration of the uncertainty of emission regulation promotion (Standard Three turns to Standard Four), and
investment
the lands are in short supply at the mean time, the original investment plan of ―Industrialization of tail treatment
project of raised
system‖ met no needs of the Weifu Leader in aspect of development. Therefore, part of the content in
capitals
―Industrialization of tail treatment system‖ was changed by the Company. The abovementioned event has been
deliberated and approve by 9th meeting of 7th session of the Board held on 26 March 2013 and annual
shareholders’ general meeting of 2012 held on 23 May 2013 respectively, the ―Proposal of Changing the
Investment Plan with Raised Proceeds‖ was published on Juchao Website dated 28 March 2013, found more
details in Notice No.: 2013-007. The adjustment for the investment plan of ―Industrialization of tail treatment
system‖ changes no investment orientation of the raised proceeds, only the investment amount changed from
RMB 260 million to RMB 340 million, the adjusted part will supply with self-owned capital. The project expected
to reach serviceable condition after adjustment in June 2015. The changes for raised proceed this time has no
influence on the investment orientation and actual content of implementation without affect the implementation of
investment plan. The adjustment guarantees a normal utilization of raised proceeds and smoothly implementation
of projects of raised proceeds, and in line with the actual condition of the Company and long-term development
plan.
Invested in
pre-phases and
replacement for Not applicable
raised fund
projects
Temporarily
supplement for
the current Not applicable
capitals with idle
raised capitals
Amount surplus
in
implementation
Not applicable
of raised
proceeds and
reasons
Usage and trend Usage of raised capitals had on changes in the reporting. On the storage and the usage of raised capitals, the
of unused raised company’s execution strictly based on related laws and regulations and three-party supervision protocol of raised
capitals capitals (four-party supervision protocol of raised capitals).
Questions or
other situation
while using Not applicable
raised capitals
and in disclosure
17
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
(3)The changed project of raised proceeds
In 10 thousand Yuan
Progress of
Accumulati Whether the
Total the
on virtual Predicted Whether it feasibility
Correspondi amount Virtual investment Income
Project amount serviceable has come up of the
ng original invested amount deadline the achieved in
after the input ended condition to the project
committed after input in the end of the the
change as the date of scheduled changed
project adjustment reporting reporting reporting
reporting project income after the
(1) (%)(3)=(2)/
period (2) alteration
(1)
Industrializ Industrializat
ation of tail ion of tail
26,000 2,358.24 14,704.29 56.56% 2015-06-30 No
treatment treatment
system system
Total -- 26,000 2,358.24 14,704.29 -- -- 0 -- --
In consideration of the uncertainty of emission regulation promotion (Standard Three turns to Standard Four), and the
lands are in short supply at the mean time, the original investment plan of ―Industrialization of tail treatment system‖
Changing met no needs of the Weifu Leader in aspect of development. Therefore, part of the content in ―Industrialization of tail
reason, treatment system‖ was changed by the Company. The abovementioned event has been deliberated and approve by 9 th
decision meeting of 7th session of the Board held on 26 March 2013 and annual shareholders’ general meeting of 2012 held on
procedure 23 May 2013 respectively, the ―Proposal of Changing the Investment Plan with Raised Proceeds‖ was published on
and Juchao Website dated 28 March 2013, found more details in Notice No.: 2013-007. The adjustment for the investment
statement plan of ―Industrialization of tail treatment system‖ changes no investment orientation of the raised proceeds, only the
of investment amount changed from RMB 260 million to RMB 340 million, the adjusted part will supply with self-owned
disclosure( capital. The project expected to reach serviceable condition after adjustment in June 2015. The changes for raised
In specific proceed this time has no influence on the investment orientation and actual content of implementation without affect
project) the implementation of investment plan. The adjustment guarantees a normal utilization of raised proceeds and
smoothly implementation of projects of raised proceeds, and in line with the actual condition of the Company and
long-term development plan.
Explanation on major changes of
No major changes
feasibility after the project changed
(4) Project of raised proceeds
Disclosure
Project of raised proceeds and summary Disclosure index
date
Being approved by CSRC on 21 January 2012, the private placement of the
Company was 112,858,000 shares at most, net amount of RMB 2.85 billion
The ‖Feasibility Analysis Report for the
was raised for the followed projects: R&D of WAPS, industrialization,
Raised Proceeds from Private
productivity expansion of diesel common rail system parts, 2011-09-27
Placement(Revised)‖ published on
industrialization of tail treatment system, research institution project,
Juchao Website
construction project in industrial zone, battery material of engines and
R&D of battery, equity acquisition project and, liquid assets
18
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
supplementation.
Being deliberated and approved on 9th meeting of 7th session of the Board The ―Proposal of Changing the
held on 26 March 2013 and annual shareholders’’ general meeting of 2012 Investment Plan with Raised Proceeds‖
2013-03-28
held on 23 May 2013, the original investment plan of ―Industrialization of published on Juchao Website (Notice
tail treatment system‖ was changed. No.: 2013-007)
The ―Special Report of Deposit of
Raised Proceeds and Utilization for fist
Deposit of raised proceeds and utilization for fist half year of 2013 2013-08-27
half year of 2013‖ published on Juchao
Website
4. Main subsidiaries and stock-jointly companies
Particular about main subsidiaries and stock-jointly companies
In RMB
Compa Main
Register Operating Operating
ny Type Industries products or Total assets Net Assets Net profit
capital revenue profit
name service
Post-proces
Weifu Subsi Automob 502,596, 1,406,473,87
sing system 886,109,446.50 537,785,282.73 65,324,566.18 58,225,576.99
Leader diary ile parts 300.00 6.22
productions
Fuel
Weifu Subsi Automob injection 346,286, 1,182,138,20
702,315,815.11 463,409,391.75 94,528,202.85 80,386,167.90
Jinning diary ile parts system 825.80 3.47
productions
Bosch Joint- Fuel
US$
Autom stock Automob injection 5,408,805,12
200,000, 3,704,578,977.60 2,457,986,031.25 501,401,687.22 423,041,404.11
obile comp ile parts system 7.76
000.00
Diesel any productions
Joint-
Petrol
CNEM stock Automob 600,620, 2,334,127,17
system 1,769,833,462.36 3,754,631.66 448,461,556.90 448,304,570.00
S comp ile parts 000.00 7.50
productions
any
5. The significant progress of non-raised proceeds investment
In 10 thousand Yuan
Name of the Total investment Investment amount Accumulation of actual investment Progress of the Earnings of the
project amount in the period amount ended of the period-end project project
Total 0 0 0 -- --
VI. Prediction of business performance from January – September 2013
Estimation on accumulative net profit from the beginning of the year to the end of next report period to be loss probably or the
19
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
warning of its material change compared with the corresponding period of the last year and explanation on reason
□ Applicable √ Not applicable
VII. Explanation from the Board and Supervisory Committee for “Qualified Opinion” from
the CPA of this year’s
The financial report of semi-annual report 2013 was unaudited
VIII. Explanation from the Board for “Qualified Opinion” of last year’s
Jiangsu Gongzheng Tianye Certified Public Accountants issued a standard unqualified auditor’s report for the annual report 2012 of
the Company
IX. Implementation of profit distribution in reporting period
Implementation or adjustment of profit distribution plan in reporting period, cash dividend plan and shares converted from capital
reserve in particular
√□Applicable □Not applicable
The bonus scheme of the Company was formulated strictly in line with relevant regulation of Article of Association.
Profit distribution plan for year of 2012 was: based on total share capital of the Company 680133995, distribute
cash dividend of RMB 3.00 (tax included) for every 10 shares and 5 bonus shares (tax included) to all
shareholders. The scheme was deliberated and approve by 9th meeting of 7th session of the Board held on 26
March 2013 and annual shareholders’ general meeting of 2012 held on 23 May 2013. The implementation of
equity distribution plan for year of 2012 (Notice No.: 2013-016) was published on China Securities Journal,
Securities Times, Hong Kong Commercial Daily and Juchao Website (http://www.cninfo.com.cn) dated 26 June
2013. And the plan was completed in July 2013.
X. Profit distribution and capitalization of capital reserves in the Period
Explanation on profit distribution plan and capitalization of capital reserves
The Company has no plans of cash dividend distributed, no bonus shares and has no share converted from capital reserve either for
first half year of 2013
XI. In the report period, reception of research, communication and interview
Time Place Way Type Reception Contents discussed and material provided
Telephone
2013-03-28 Office of the Board Institution Institution Annual report
communication
Scene of the shareholders’ Institution Institution Implementation of Standard IV and views
2013-05-23 Other
general meeting on market in 2013
Basic condition of the Company,
January to Telephone
Office of the Board Individual Public investor implementation of Standard IV and views
June of communication
on market in 2013
20
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Section V. Important Events
I. Corporate governance
Pursuit to requriement of normative documents and relevatnt laws and regulations, the Company has a mechanism
of decision-making, execution and supervise in the framework of shareholders general meeting, board of directors,
supervisory committee and senior management. Vary rules and regulations have been established, constructe and
improve a reasonable and efficiency internal control system, guarantee a sustainable improvement of the operation
standards for the Company. The Company strictly follow the requirement from CSRC and relevant rules from
Listing Rules of Shenzhen Stock Exchange as well as Guidance on Standard Operation of Listed Company on
Main Board, serious and timely to perform obligation of information disclosure based on principle of
―transparency, fairness and justice‖. In reporting period, the actual corporate governance of the Company shows
no major difference with the Company Law and relevant regulations from CSRC.
II. Significant lawsuits and arbitrations of the Company
□Applicable √Not applicable
The Company has no significant lawsuits and arbitrations in reporting period
III. Question from media
□ Applicable √ Not applicable
No universal questioned by media in reporting period
IV. Bankruptcy reorganization
In reporting period, the Company has no bankruptcy reorganization occurred.
V. Transaction in assets
1. Acquisition of assets
The other The related
Purchase Impact on Ratio of net profit Related Index
party of Impact on relationship Date of
Assets price(10 Progress gains/losses contributed to transact of
transaction operation of (applicable disclosu
purchased thousand of the listed company in ion or disclos
or final the Company for related re
Yuan) Company total net profit (%) not ure
controller transaction)
Enlarge
Ownersh In favor of
1% equity operation
American ip has improving the Not
of Weifu volume and
Autocam 140.17 transferr manufacture 0.9% No applica
Autocam improve the
Co., Ltd. ed in standards of ble
held performance
total auto parts
standards
21
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
2. Assets sold
□ Applicable √ Not applicable
3. Enterprise mergers
In reporting period, 1% equity of Weifu Autocam held by American Autocam Co., Ltd. eas purchased by the
Company, after purchasing, equity of Weifu Autocam held by the Company up to 51% and Weifu Autocam
included in consolidation range since June 2013.
VI. Implementation of the company’s equity incentive and the effects
No equity incentive in reporting period
VII. Significant related transaction
1. Related transaction connected to routine operations
Proportio
Related
n in the Related Similar
transactio
Related Related Related Related Pricing Related amount transactio market
n amount Date of Index of
transaction relationshi transaction transaction princip transactio of the n price
(in 10 disclosure disclosure
parties p type content al n price same settlemen obtaine
thousand
transactio t mode d
yuan)
n (%)
Procureme
nt of ―Estimated
Associate merchandis Accordin of Related
Weifu Procureme Market
d e and 3,974.96 2.55% g to the transaction
Instrument nt of goods price
company receiving contract with
labor routine
service operation
concerned
Associate
for year of
d Procureme
2013-03-2 2013‖
company, nt of
8 (Notice
Bosch controllin merchandis Accordin
Procureme Market No.:
Automobil g e and 11,032.53 7.07% g to the
nt of goods price 2013-005)
e Diesel subsidiary receiving contract
and
of German labor
―Resolution
Bosch service
Notice of
Company
Annual
Weifu Joint Procureme Accordin
Procureme Market shareholder
Environme venture of nt of 28,396.5 18.2% g to the
nt of goods price s’ general
nt Weifu merchandis contract
22
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Leader e and meeting
receiving 2013‖
labor (Notice
service No.:
2013-014)
Procureme
published
nt of
on Juchao
merchandis Accordin
Weifu Joint Procureme Market Website
e and 853.7 0.55% g to the
Autocam venture * nt of goods price
receiving contract
labor
service
Procureme
Second nt of
Procureme
largest merchandis Accordin
Robert nt of goods Market
shareholde e and 2,328.11 1.49% g to the
Bosch or labor price
r of the receiving contract
service
Company labor
service
Selling
Associate goods and Accordin
Weifu Sales of Market
d providing 985.09 0.34% g to the
Instrument goods price
company labor contract
service
Associate
d
company ,
Selling
Controllin
Bosch goods and Accordin
g Sales of Market
Automobil providing 16,832.78 5.85% g to the
subsidiary goods price
e Diesel labor contract
of Robert
service
Bosch
Automobil
e Diesel
Joint Selling
Weifu venture goods and Accordin
Sales of Market
Environme company providing 717.81 0.25% g to the
goods price
nt of Weifu labor contract
Leader service
Selling
Accordin
Weifu Joint goods and Sales of Market
168.42 0.06% g to the
Autocam venture * providing goods price
contract
labor
23
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
service
Robert Second Selling
Bosch largest goods and Accordin
Sales of Market
Bosch shareholde providing 898.77 0.31% g to the
goods price
Automobil r of the labor contract
e Diesel Company service
Joint
Weifu
venture of Sales of
Environme Other 0.11
Weifu fixed assets
nt
Leader
Associate
d
company ,
Bosch Controllin Technolog
Automobil g y service
Other 221.76
e Diesel subsidiary charge
of Robert payable
Bosch
Automobil
e Diesel
Largest
Land use
Industry shareholde
Other expenses 160
Group r of the
payable
Company
Largest Purchasing
Industry shareholde exclusive
Other 1,615.57
Group r of the right to use
Company trademark
Robert
2nd-largest
Bosch Technolog
shareholde
Bosch Other y royalties 871.17
r of the
Automobil payable
Company
e Diesel
Total -- -- 69,057.28 -- -- -- -- --
The total amount from daily related transaction in reporting period still in the
predicted amount that approved in Annual Shareholders’ General Meeting of 2012,
Report the actual implementation of the normal
the predicted amount of daily related transactions for year of 2013 at year-begin
related transactions which were projected about
amounting as RMB 2,294,500,000 in total.
their total amount by types during the reporting
* Weifu Autocam is the original joint venture of the Company, after 1 percent
period(if applicable)
equity of Weifu Autocam held by American Autocam Company was transfer in the
reporting period, Weifu Autocam comes to the controlling subsidiary of the
24
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Company with 51% equity held by the Company. Relevant industrial and
commercial changes has completed on 17 May 2013 and included in consoldiation
statement range since June 2013.
2. Related transaction incurred by purchase or sales of assets
□ Applicable √ Not applicable
3. Significant related transaction from jointly investment outside
□ Applicable √ Not applicable
4. Credits and liability of related party
Whether have non-operation related liabilities and credits relations or not
□Yes √No
5. Other significant related transactions
No other significant related transaction occurred in reporting period
VIII. Significant contracts and its implementation
1. Trusteeship, contracting and lease
(1) Trusteeship
Explanation on trusteeship
In reporting period, the Company has no trusteeship event occurred, and either trusteeship occurred in previous period and last to this
reporting period
Items generated over 10% gains/losses in total profit in reporting period for the Company
□ Applicable √ Not applicable
(2) Contract
Explanation on contract
In reporting period, the Company has no contract occurred, and either contract occurred in previous period and last to this reporting
period
Items generated over 10% gains/losses in total profit in reporting period for the Company
□ Applicable √ Not applicable
(3) Lease
Explanation on lease
In reporting period, the Company has no lease occurred, and either lease occurred in previous period and last to this reporting period
25
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Items generated over 10% gains/losses in total profit in reporting period for the Company
□ Applicable √ Not applicable
2. Guarantees
The Company has no guarantee occurred in reporting period
Explanation on guarantee with composite way
□ Applicable √ Not applicable
3. Other significant contract
□ Applicable √ Not applicable
4. Other significant transaction
The Company has no other significant transaction occurred in reporting period
IX. Commitments from the Company or shareholders (with over 5% shares held) occurred in
reporting period or occurred in previous period but continued to this period
Commit
Commitment Dated for Implementa
Commitments Contents ment
party commitment tion
term
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 The
commitment period, original non-circulating shares commitmen
Wuxi Industry would be listed for sale in Shenzhen Stock Exchange, t was being
Development the proportion of sales volume to total share equity of fulfilled
Share Merger Reform 2006-04-05
Group Co., Weifu Hi-tech could not exceed 5% within 12 months without
Ltd as well as 10% within 24 months, and sales price ought holdings-re
not to less than RMB 10 per share (the lowest ducing
impairment price of shares holding would be calculated shares.
ex-right at the same time if share price ought to ex-right
according to regulation).
In order to promote the listed company’s steady and
healthy development, fully mobilize senior executives
Implemente
Wuxi Industry so as to ensure to combine the interests of the
d after
Development governance and shareholders of the Company, Weifu
2006-04-05 related
Group Co., Industry Group committed: after Weifu High-tech
policy
Ltd finishing Share Merger Reform, under related
released
regulations of the state and Wuxi government in terms
of governance encouragement system of listed
26
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
company, the Group would the stock incentive plan for
management level of Weifu High-tech.
Commitments in
report of acquisition
or equity change
Commitments in
assets reorganization
Wuxi Industry
The privately offering of the Company totally issue
Development
112,858,000 A-shares to substantial shareholder Wuxi
Commitments in Group Co.,
Industry Group and foreign strategy investor ROBERT Implementi
initial public offering Ltd and
BOSCH GMBH. The above said shares are listed for ng
or refinancing ROBERT
trading in Shenzhen Stock Exchange since 29 February
BOSCH
2012 with 36-month restriction
GMBH
Other commitments to
minority shareholders
of the Company
Completed on time or
Yes
not
Detail reasons for
un-complement and
Not applicable
further plan(if
applicable)
X. Appointment and non-reappointment (dismissal) of CPA
Whether financial report for the semi-annual has audited or not
□Yes √No
XI. Penalty and rectification
Explanation on rectification
□Applicable √ Not applicable
XII. Other material events
Material events published on China Securities Journal, Securities Times, Hong Kong Commercial Daily and Juchao Website
(www.cninfo.com.cn) in reporting period:
Item Notice No.: Disclosure date
Resolution notice of 9th meeting of 7th session of the Board 2013-001 2013-3-28
Resolution notice of 8th meeting of 7th session of supervisory committee 2013-002 2013-3-28
27
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Summary of annual report 2012 2013-003 2013-3-28
Guarantee offer to wholly-owned subsidiary 2013-004 2013-3-28
Estimated routine related transaction 2013-005 2013-3-28
Trust financing with self-owned idle funds 2013-006 2013-3-28
Resolution Report of changing part of the implementation method for investment project with 2013-007 2013-3-28
raised proceeds
Capital increased for subsidiary 2013-008 2013-3-28
Resolution notice of 10th meeting of 7th session of the Board 2013-009 2013-4-25
Resolution notice of 9th meeting of 7th session of supervisory committee 2013-010 2013-4-25
Text of 1Q Report of 2013 2013-011 2013-4-25
Convening the shareholders’ general meeting for year of 2012 2013-012 2013-4-25
Prompted Notice of convening the shareholders’ general meeting of 2012 2013-013 2013-5-17
Resolution of annual shareholders’ general meeting 2012 2013-014 2013-5-24
Notice of Investment Outside 2013-015 2013-6-4
Bonus Distribution for year of 2012 2013-016 2013-6-26
28
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Section VI. Changes in Shares and Particulars about Shareholders
I. Changes in Shares
Before the Change Increase/Decrease in the Change (+, -) After the Change
New Capitalization
Proporti Bonus Proportion
Amount shares of public Others Subtotal Amount
on (%) shares (%)
issued reserve
I. Restricted shares 156,186,216 22.96% 156,186,216 22.96%
1. State holding
2. State-owned corporate
79,311,999 11.66% 79,311,999 11.66%
shares
3. Other domestic shares
Including: domestic
corporate shares
Domestic nature
person shares
4. Foreign shares 76,840,400 11.29% 76,840,400 11.29%
Including: Foreign
76,840,400 11.29% 76,840,400 11.29%
corporate shares
Foreign nature person
shares
5. Senior executives’
33,817 0.01% 33,817 0.01%
shares
II. Unrestricted shares 523,947,779 77.04% 523,947,779 77.04%
1. RMB Ordinary shares 409,027,779 60.14% 409,027,779 60.14%
2. Domestically listed
114,920,000 16.9% 114,920,000 16.9%
foreign shares
3. Foreign listed foreign
shares
4. Other
III. Total shares 680,133,995 100% 680,133,995 100%
Reasons for share changed
□Applicable √Not applicable
Approval of share changed
□Applicable √Not applicable
Ownership transfer of share changed
□Applicable √Not applicable
Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets per share attributable to common
29
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
shareholders of Company in latest year and period
□Applicable √Not applicable
Other information necessary to disclose for the Company or need to disclosed under requirement from security regulators
□Applicable √Not applicable
Explanation on changes of total shares and shareholder structure as well as assets and liability structure
□Applicable √Not applicable
II. Amount of shareholders of the Company and particulars about shares holding
In Share
Total shareholders at period-end 31,744
Particulars about shares held above 5% by shareholders
Number of
Total
Changes Amount of Amount of share
Proportion shareholders
Nature of
Full name of Shareholders of shares in report restrict un-restrict pledged/frozen
shareholder
held (%) at the end of
period shares held shares held State of Amo
report period
share unt
Wuxi Industry Development State-owned
20% 136,039,599 79,311,999 56,727,600
Group Co., Ltd corporate
Foreign
ROBERT BOSCH GMBH 14% 95,227,600 76,840,400 18,387,200
corporate
China Construction Bank－
Domestic
Fullgoal Tianbo Innovation
non-state-own 2.2% 14,950,000 14,950,000
Theme Stock Securities
ed corporate
Investment Fund
BBH BOS S/A FIDELITY FD - Foreign
1.54% 10,445,312 10,445,312
CHINA FOCUS FD corporate
China Construction Bank – China Domestic
Advantage Growth Stock non-state-own 1.5% 10,182,833 10,182,833
Securities Investment Fund ed corporate
Domestic
ICBC—E-fund Value Growth Mix
non-state-own 1.36% 9,269,752 9,269,752
Securities Investment Fund
ed corporate
Bank of Communications – Domestic
Fullgoal Tianyi Value Securities non-state-own 1.32% 8,963,548 8,963,548
Investment Fund ed corporate
Foreign
GAOLING FUND,L.P. 1.21% 8,252,142 8,252,142
corporate
ABC—Changsheng Tongde Domestic
1.15% 7,805,843 7,805,843
Theme Growth Stock Securities non-state-own
30
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Investment Fund ed corporate
CCB—Yinhua Core Value Domestic
Selected Securities Investment non-state-own 1.08% 7,350,874 7,350,874
Fund ed corporate
Among the top ten shareholders, there has no associated relationship between Wuxi Industry
Explanation on related Development Croup Co., Ltd. and other shareholders, the first largest shareholder of the
relationship or concerted action Company; and they do not belong to the consistent actionist regulated by the Management
among the abovementioned Measure of Information Disclosure on Change of Shareholding for Listed Company.
shareholders Fullgoal Tianbo Innovation Theme Stock Securities Investment Fund and Fullgoal Tianyi Value
Security Investment Fund shares same fund manager –Fullgoal Fund Management Co., Ltd.
Particular about top ten shareholders with un-restrict shares held
Amount of un-restricted Type of shares
Shareholders’ name
shares held at period-end Type Amount
WUXI INDUSTRY DEVELOPMENT CROUP CO.,
56,727,600 RMB common shares 56,727,600
LTD.
ROBERT BOSCH GMBH 18,387,200 Domestically foreign shares 18,387,200
China Construction Bank－Fullgoal Tianbo
14,950,000 RMB common shares 14,950,000
Innovation Theme Stock Securities Investment Fund
BBH BOS S/A FIDELITY FD - CHINA FOCUS FD 10,445,312 Domestically foreign shares 10,445,312
China Construction Bank – China Advantage Growth
10,182,833 RMB common shares 10,182,833
Stock Securities Investment Fund
ICBC—E-fund Value Growth Mix Securities
9,269,752 RMB common shares 9,269,752
Investment Fund
Bank of Communications – Fullgoal Tianyi Value
8,963,548 RMB common shares 8,963,548
Securities Investment Fund
GAOLING FUND,L.P. 8,252,142 Domestically foreign shares 8,252,142
ABC—Changsheng Tongde Theme Growth Stock
7,805,843 RMB common shares 7,805,843
Securities Investment Fund
CCB—Yinhua Core Value Selected Securities
7,350,874 RMB common shares 7,350,874
Investment Fund
Among the top ten shareholders, there has no associated relationship
between Wuxi Industry Development Croup Co., Ltd. and other
Expiation on associated relationship or consistent shareholders, the first largest shareholder of the Company; and they do not
actors within the top 10 un-restrict shareholders and belong to the consistent actionist regulated by the Management Measure of
between top 10 un-restrict shareholders and top 10 Information Disclosure on Change of Shareholding for Listed Company.
shareholders Fullgoal Tianbo Innovation Theme Stock Securities Investment Fund and
Fullgoal Tianyi Value Security Investment Fund shares same fund manager
–Fullgoal Fund Management Co., Ltd.
31
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Whether has a buy-back agreement dealing in reporting period
□Yes √No
III. Changes of controlling shareholders or actual controller
Changes of controlling shareholders in reporting period
□ Applicable √ Not applicable
Changes of actual controller in reporting period
□ Applicable √ Not applicable
32
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Section VII. Directors, Supervisors and Senior Executives
I. Changes of shares held by directors, supervisors and senior executives
□ Applicable √ Not applicable
Shares held by directors, supervisors and senior executives have no changes in reporting period, found more details in Annual Report
2012.
II. Changes of directors, supervisors and senior executives of the Company
□ Applicable √ Not applicable
33
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Section VIII. Financial Report
I. Audit reports
Whether the semi-annual report was audited or not
□ Yes √ No
The financial report of this semi-annual report was unaudited
II. Financial statements
Units in Notes of Financial Statements is RMB
1. Consolidated balance sheet
Prepared by Weifu High-Technology Group Co., Ltd In RMB
Item Closing balance Opening balance
Current assets:
Monetary fund 2,330,144,630.58 2,600,714,219.36
Settlement provisions
Capital lent
Transaction finance asset
Notes receivable 1,171,279,430.12 898,720,248.22
Account receivable 1,437,419,129.81 1,036,392,701.40
Accounts paid in advance 179,750,873.40 143,500,001.15
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance receivable
Interest receivable 24,905,675.00 37,619,858.83
Dividend receivable 107,616,777.91 107,616,777.91
Other receivables 16,682,577.59 10,147,631.52
Purchase restituted finance asset
Inventories 783,900,263.57 759,505,087.10
Non-current asset due within one year
Other current assets 1,034,381,469.28 500,118,243.81
Total current assets 7,086,080,827.26 6,094,334,769.30
Non-current assets:
34
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Granted entrust loans and advances
Financial assets available for sale 412,420,600.00 265,689,600.00
Hold-to-maturity investment 848,000,000.00 649,000,000.00
Long-term account receivable
Long-term equity investment 2,386,908,438.95 2,192,275,239.86
Investment real estate 3,652,228.02 3,881,346.30
Fixed assets 1,463,416,014.66 1,404,806,234.18
Construction in process 72,933,943.71 65,649,548.48
Engineering material
Disposal of fixed asset
Productive biological assets
Oil and gas asset
Intangible assets 292,855,226.33 280,305,865.12
Expense on Research and Development
Goodwill 1,784,086.79 1,784,086.79
Long-term expenses to be apportioned 15,450,232.52 12,227,687.75
Deferred income tax asset 87,026,890.99 86,019,554.56
Other non-current asset
Total non-current asset 5,584,447,661.97 4,961,639,163.04
Total assets 12,670,528,489.23 11,055,973,932.34
Current liabilities:
Short-term loans 413,000,000.00 70,000,000.00
Loan from central bank
Absorbing deposit and interbank deposit
Capital borrowed
Transaction financial liabilities
Notes payable 493,343,576.23 278,184,200.63
Accounts payable 1,386,291,556.93 1,133,511,331.25
Accounts received in advance 51,906,380.33 52,622,311.97
Selling financial asset of repurchase
Commission charge and commission payable
Wage payable 319,685,148.20 276,292,169.70
Taxes payable 45,535,499.41 27,471,710.92
Interest payable 120,000.00 220,500.00
35
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Dividend payable 213,827,449.02
Other accounts payable 88,528,019.98 71,364,242.12
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Non-current liabilities due within 1 year
Other current liabilities 37,146,544.30 22,102,265.27
Total current liabilities 3,049,384,174.40 1,931,768,731.86
Non-current liabilities:
Long-term loans
Bonds payable
Long-term account payable 16,451,818.00 16,790,909.00
Special accounts payable
Accrual liabilities
Deferred income tax liabilities 24,105,590.90 12,551,182.40
Other non-current liabilities 154,609,790.42 133,879,108.31
Total non-current liabilities 195,167,199.32 163,221,199.71
Total liabilities 3,244,551,373.72 2,094,989,931.57
Owners’ equity(or Shareholders’ equity):
Paid-in capital( or share capital) 680,133,995.00 680,133,995.00
Capital public reserve 3,755,483,604.52 3,689,694,029.52
Less: Inventory shares
Reasonable reserve
Surplus public reserve 340,066,997.50 340,066,997.50
Provision of general risk
Retained profit 4,273,999,368.94 3,946,085,733.22
Balance difference of foreign currency translation
Total owner’s equity attributable to parent Company 9,049,683,965.96 8,655,980,755.24
Minority interests 376,293,149.55 305,003,245.53
Total owner’s equity( or shareholders equity) 9,425,977,115.51 8,960,984,000.77
Total liabilities and owner’s equity( or shareholders equity) 12,670,528,489.23 11,055,973,932.34
Legal Representative: Chen Xuejun
Person in charge of accounting works: Ou Jianbin
Person in charge of accounting institute: Ou Jianbin
36
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
2. Balance sheet of parent company
Prepared by Weifu High-Technology Group Co., Ltd
In RMB
Item Closing balance Opening balance
Current assets:
Monetary fund 1,568,138,921.96 1,566,564,504.46
Transaction finance asset
Notes receivable 414,594,381.16 316,494,407.33
Account receivable 631,066,880.02 654,141,638.40
Accounts paid in advance 86,642,177.57 58,571,931.67
Interest receivable 21,983,800.00 31,963,747.72
Dividend receivable 102,868,978.88 102,868,978.88
Other receivables 37,999,811.84 23,509,170.62
Inventory 198,616,319.45 204,214,205.28
Non-current asset due within one year
Other current assets 1,022,750,000.00 490,000,000.00
Total current assets 4,084,661,270.88 3,448,328,584.36
Non-current assets:
Financial assets available for sale 412,420,600.00 265,689,600.00
Hold-to-maturity investment 848,000,000.00 649,000,000.00
Long-term account receivable
Long-term equity investment 3,424,278,676.65 3,174,930,767.12
Investment real estate
Fixed assets 671,145,240.37 663,822,135.66
Construction in process 24,551,715.86 36,037,172.50
Engineering material
Disposal of fixed asset
Productive biological assets
Oil and gas asset
Intangible assets 197,181,578.86 183,908,044.23
Expense on Research and Development
Goodwill
Long-term expenses to be apportioned
Deferred income tax asset 52,354,559.93 49,794,919.70
37
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Other non-current asset
Total non-current asset 5,629,932,371.67 5,023,182,639.21
Total assets 9,714,593,642.55 8,471,511,223.57
Current liabilities:
Short-term loans 220,000,000.00
Transaction financial liabilities
Notes payable 234,552,675.56 96,780,000.00
Accounts payable 638,510,535.50 524,096,818.13
Accounts received in advance 16,072,555.41 7,612,539.20
Wage payable 224,827,748.94 180,177,025.37
Taxes payable 10,662,255.76 21,422,094.21
Interest payable
Dividend payable 204,040,198.50
Other accounts payable 183,622,859.08 62,293,809.89
Non-current liabilities due within 1 year
Other current liabilities 362,282.53
Total current liabilities 1,732,651,111.28 892,382,286.80
Non-current liabilities:
Long-term loans
Bonds payable
Long-term account payable
Special accounts payable
Accrual liabilities
Deferred income tax liabilities 21,582,165.00 9,972,240.00
Other non-current liabilities 115,759,108.31 115,759,108.31
Total non-current liabilities 137,341,273.31 125,731,348.31
Total liabilities 1,869,992,384.59 1,018,113,635.11
Owners’ equity(or Shareholders’ equity):
Paid-in capital( or share capital) 680,133,995.00 680,133,995.00
Capital public reserve 3,783,546,994.50 3,717,757,419.50
Less: Inventory shares
Reasonable reserve
Surplus public reserve 340,066,997.50 340,066,997.50
Provision of general risk
38
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Retained profit 3,040,853,270.96 2,715,439,176.46
Balance difference of foreign currency translation
Total owner’s equity( or shareholders equity) 7,844,601,257.96 7,453,397,588.46
Total liabilities and owner’s equity( or shareholders equity) 9,714,593,642.55 8,471,511,223.57
Legal Representative: Chen Xuejun
Person in charge of accounting works: Ou Jianbin
Person in charge of accounting institute: Ou Jianbin
3. Consolidated profit statement
Prepared by Weifu High-Technology Group Co., Ltd In RMB
Item Amount in this period Amount in last period
I. Total operating income 2,878,965,006.18 2,622,741,134.00
Including: Operating income 2,878,965,006.18 2,622,741,134.00
Interest income
Insurance gained
Commission charge and commission income
II. Total operating cost 2,569,127,289.28 2,250,361,339.67
Including: Operating cost 2,221,406,094.80 1,935,729,790.13
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 18,439,419.84 16,273,053.72
Sales expenses 81,319,229.85 87,922,067.65
Administration expenses 275,092,115.54 220,879,377.54
Financial expenses -27,181,590.78 -12,478,749.75
Losses of devaluation of asset 52,020.03 2,035,800.38
Add: Changing income of fair value(Loss is listed with ―-‖)
Investment income (Loss is listed with ―-‖) 298,989,670.51 159,986,544.27
Including: Investment income on affiliated Company and joint venture 273,472,173.93 159,246,544.27
Exchange income (Loss is listed with ―-‖)
III. Operating profit (Loss is listed with ―-‖) 608,827,387.41 532,366,338.60
39
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Add: Non-operating income 2,292,992.46 4,278,988.75
Less: Non-operating expense 5,046,403.57 3,304,960.30
Including: Disposal loss of non-current asset 1,725,468.28 381,171.82
IV. Total Profit (Loss is listed with ―-‖) 606,073,976.30 533,340,367.05
Less: Income tax 52,038,268.65 60,396,042.65
V. Net profit (Net loss is listed with ―-‖) 554,035,707.65 472,944,324.40
Including: net profit realized for merged party before combination
Net profit attributable to owner’s equity of parent Company 531,953,834.22 446,281,174.98
Minority shareholders’ gains and losses 22,081,873.43 26,663,149.42
VI. Earnings per share -- --
i. Basic earnings per share 0.78 0.69
ii. Diluted earnings per share 0.78 0.69
VII. Other consolidated income 65,789,575.00 77,241,200.00
VIII. Total consolidated income 619,825,282.65 550,185,524.40
Total consolidated income attributable to owners of parent Company 597,743,409.22 523,522,374.98
Total consolidated income attributable to minority shareholders 22,081,873.43 26,663,149.42
Legal Representative: Chen Xuejun
Person in charge of accounting works: Ou Jianbin
Person in charge of accounting institute: Ou Jianbin
4. Profit statement of parent company
Prepared by Weifu High-Technology Group Co., Ltd In RMB
Item Amount in this period Amount in last period
I. Operation income 1,270,886,428.63 1,148,216,005.19
Less: Operation cost 1,083,696,285.15 939,317,265.51
Operating tax and extras 7,233,003.17 5,899,177.59
Sales expenses 43,376,650.54 55,621,542.96
Administration expenses 113,257,450.11 92,245,305.10
Financial expenses -29,351,061.05 -17,684,336.38
Losses of devaluation of asset 129,551.83 875,853.27
Add: Changing income of fair value(Loss is listed with ―-‖)
Investment income (Loss is listed with ―-‖) 487,583,047.17 397,068,742.05
Including: Investment income on affiliated Company and joint venture 247,946,222.53 137,803,640.43
II. Operating profit (Loss is listed with ―-‖) 540,127,596.05 469,009,939.19
Add: Non-operating income 661,676.64 36,932.20
40
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Less: Non-operating expense 1,499,366.12 1,693,593.85
Including: Disposal loss of non-current asset 109,273.68 304,279.85
III. Total Profit (Loss is listed with ―-‖) 539,289,906.57 467,353,277.54
Less: Income tax 9,835,613.57 10,425,921.59
IV. Net profit (Net loss is listed with ―-‖) 529,454,293.00 456,927,355.95
V. Earnings per share -- --
i. Basic earnings per share 0.78 0.67
ii. Diluted earnings per share 0.78 0.67
VI. Other consolidated income 65,789,575.00 77,241,200.00
VII. Total consolidated income 595,243,868.00 534,168,555.95
Legal Representative: Chen Xuejun
Person in charge of accounting works: Ou Jianbin
Person in charge of accounting institute: Ou Jianbin
5. Consolidated cash flow statement
Prepared by Weifu High-Technology Group Co., Ltd In RMB
Amount in this Amount in last
Item
period period
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing labor services 2,724,674,871.14 3,164,050,264.06
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
Insured savings and net increase of 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 18,083,551.48 22,802,910.96
Other cash received concerning operating activities 52,716,388.42 27,837,513.35
Subtotal of cash inflow arising from operating activities 2,795,474,811.04 3,214,690,688.37
Cash paid for purchasing commodities and receiving labor service 1,820,040,005.91 2,058,291,904.26
Net increase of customer loans and advances
41
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
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 286,348,011.92 281,857,048.58
Taxes paid 233,605,141.73 292,894,788.51
Other cash paid concerning operating activities 136,908,363.48 144,011,399.00
Subtotal of cash outflow arising from operating activities 2,476,901,523.04 2,777,055,140.35
Net cash flows arising from operating activities 318,573,288.00 437,635,548.02
II. Cash flows arising from investing activities:
Cash received from recovering investment 644,000,000.00 3,975,700.00
Cash received from investment income 19,267,496.58
Net cash received from disposal of fixed, intangible and other long-term assets 3,628,914.94 899,816.40
Net cash received from disposal of subsidiaries and other units
Other cash received concerning investing activities
Subtotal of cash inflow from investing activities 666,896,411.52 4,875,516.40
Cash paid for purchasing fixed, intangible and other long-term assets 124,462,991.28 70,778,583.22
Cash paid for investment 1,446,781,500.00 520,673,000.00
Net increase of mortgaged loans
Net cash received from subsidiaries and other units -18,719,339.18
Other cash paid concerning investing activities
Subtotal of cash outflow from investing activities 1,552,525,152.10 591,451,583.22
Net cash flows arising from investing activities -885,628,740.58 -586,576,066.82
III. Cash flows arising from financing activities:
Cash received from absorbing investment 9,120,000.00 2,850,124,252.93
Including: Cash received from absorbing minority shareholders’ investment by
9,120,000.00
subsidiaries
Cash received from loans 405,000,000.00 570,000,000.00
Cash received from issuing bonds
Other cash received concerning financing activities 8,404,657.07
Subtotal of cash inflow from financing activities 414,120,000.00 3,428,528,910.00
Cash paid for settling debts 90,000,000.00 1,068,000,000.00
Cash paid for dividend and profit distributing or interest paying 20,611,820.15 9,320,531.46
Including: Dividend and profit of minority shareholder paid by subsidiaries 13,700,000.00 3,444,762.15
42
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Other cash paid concerning financing activities 339,091.00 4,593,872.70
Subtotal of cash outflow from financing activities 110,950,911.15 1,081,914,404.16
Net cash flows arising from financing activities 303,169,088.85 2,346,614,505.84
IV. Influence on cash due to fluctuation in exchange rate
V. Net increase of cash and cash equivalents -263,886,363.73 2,197,673,987.04
Add: Balance of cash and cash equivalents at the period -begin 2,432,803,698.08 745,778,764.22
VI. Balance of cash and cash equivalents at the period -end 2,168,917,334.35 2,943,452,751.26
Legal Representative: Chen Xuejun
Person in charge of accounting works: Ou Jianbin
Person in charge of accounting institute: Ou Jianbin
6. Cash flow statement of parent company
Prepared by Weifu High-Technology Group Co., Ltd In RMB
Amount in this Amount in last
Item
period period
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing labor services 1,429,103,912.94 1,480,345,261.22
Write-back of tax received
Other cash received concerning operating activities 21,670,581.21 44,372,662.28
Subtotal of cash inflow arising from operating activities 1,450,774,494.15 1,524,717,923.50
Cash paid for purchasing commodities and receiving labor service 711,140,296.61 966,350,990.20
Cash paid to/for staff and workers 119,741,073.35 119,178,475.79
Taxes paid 98,288,805.19 111,236,992.45
Other cash paid concerning operating activities 67,800,690.93 287,015,340.52
Subtotal of cash outflow arising from operating activities 996,970,866.08 1,483,781,798.96
Net cash flows arising from operating activities 453,803,628.07 40,936,124.54
II. Cash flows arising from investing activities:
Cash received from recovering investment 644,000,000.00
Cash received from investment income 233,386,824.64 258,525,101.62
Net cash received from disposal of fixed, intangible and other long-term assets 80,730.24 185,659.36
Net cash received from disposal of subsidiaries and other units
Other cash received concerning investing activities
Subtotal of cash inflow from investing activities 877,467,554.88 258,710,760.98
Cash paid for purchasing fixed, intangible and other long-term assets 72,816,276.52 16,129,834.59
Cash paid for investment 1,469,063,187.00 520,673,000.00
43
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Net cash received from subsidiaries and other units
Other cash paid concerning investing activities
Subtotal of cash outflow from investing activities 1,541,879,463.52 536,802,834.59
Net cash flows arising from investing activities -664,411,908.64 -278,092,073.61
III. Cash flows arising from financing activities:
Cash received from absorbing investment 2,850,124,252.93
Cash received from loans 220,000,000.00 570,000,000.00
Cash received from issuing bonds
Other cash received concerning financing activities 8,404,657.07
Subtotal of cash inflow from financing activities 220,000,000.00 3,428,528,910.00
Cash paid for settling debts 1,035,000,000.00
Cash paid for dividend and profit distributing or interest paying 3,780,000.00 6,564,955.56
Other cash paid concerning financing activities 4,593,872.70
Subtotal of cash outflow from financing activities 3,780,000.00 1,046,158,828.26
Net cash flows arising from financing activities 216,220,000.00 2,382,370,081.74
IV. Influence on cash due to fluctuation in exchange rate
V. Net increase of cash and cash equivalents 5,611,719.43 2,145,214,132.67
Add: Balance of cash and cash equivalents at the period -begin 1,524,564,526.97 132,135,416.49
VI. Balance of cash and cash equivalents at the period -end 1,530,176,246.40 2,277,349,549.16
Legal Representative: Chen Xuejun
Person in charge of accounting works: Ou Jianbin
Person in charge of accounting institute: Ou Jianbin
44
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
7. Consolidated Statement on Changes of Owners’ Equity
Prepared by Weifu High-Technology Group Co., Ltd
Amount in this period
In RMB
Amount in this period
Owners’ equity attributable to the parent Company
Item Paid-in General Minority’s Total Owners’
Less:
Reasonable Surplus equity equity
capital(or share Capital reserves Treasury risk Retained profit Other
reserve reserves
capital) Stock provision
I. Balance at the end of the last year 680,133,995.00 3,689,694,029.52 340,066,997.50 3,946,085,733.22 305,003,245.53 8,960,984,000.77
Add: Changes of accounting policy
Error correction of the last period
Other
II. Balance at the beginning of this year 680,133,995.00 3,689,694,029.52 340,066,997.50 3,946,085,733.22 305,003,245.53 8,960,984,000.77
III. Increase/ Decrease in this year
65,789,575.00 327,913,635.72 71,289,904.02 464,993,114.74
(Decrease is listed with ―-‖)
(I) Net profit 531,953,834.22 22,081,873.43 554,035,707.65
(II) Other consolidated income 65,789,575.00 65,789,575.00
Subtotal of (I) and (II) 65,789,575.00 531,953,834.22 22,081,873.43 619,825,282.65
(III) Owners’ devoted and decreased
72,695,281.11 72,695,281.11
capital
1. Owners’ devoted capital 72,695,281.11 72,695,281.11
2. Amount calculated into owners’ equity
paid in shares
3. Other
(IV) Profit distribution -204,040,198.50 -23,487,250.52 -227,527,449.02
1. Withdrawal of surplus reserves
2. Withdrawal of general risk provisions
3. Distribution for owners (or shareholders) -204,040,198.50 -23,487,250.52 -227,527,449.02
4. Other
(V) Carrying forward internal owners’
equity
45
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
1. Capital reserves conversed to capital
(share capital)
2. Surplus reserves conversed to capital
(share capital)
3. Remedying loss with surplus reserve
4. Other
(VI) Reasonable reserve
1. Withdrawal in the report period 11,890,690.81 1,430,005.75
2. Usage in the report period 11,890,690.81 1,430,005.75
(VII)Others
IV. Balance at the end of the report period 680,133,995.00 3,755,483,604.52 340,066,997.50 4,273,999,368.94 376,293,149.55 9,425,977,115.51
Amount at last year
In RMB
Amount at last year
Owners’ equity attributable to the parent Company
Item Minority’s Total Owners’
Paid-in Less: General
Reasonable Surplus equity equity
capital(or share Capital reserves Treasury risk Retained profit Other
reserve reserves
capital) Stock provision
I. Balance at the end of the last year 567,275,995.00 895,918,416.59 283,637,997.50 3,317,227,992.26 276,328,103.75 5,340,388,505.10
Add: Retroactive adjustment arising
from combination under same control
Add: Changes of accounting policy
Error correction of the last period
Other
II. Balance at the beginning of this
567,275,995.00 895,918,416.59 283,637,997.50 3,317,227,992.26 276,328,103.75 5,340,388,505.10
year
III. Increase/ Decrease in this year
112,858,000.00 2,793,775,612.93 56,429,000.00 628,857,740.96 28,675,141.78 3,620,595,495.67
(Decrease is listed with ―-‖)
(I) Net profit 889,326,939.46 44,910,352.75 934,237,292.21
(II) Other consolidated income 56,509,360.00 56,509,360.00
Subtotal of (I) and (II) 56,509,360.00 889,326,939.46 44,910,352.75 990,746,652.21
46
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
(III) Owners’ devoted and decreased
112,858,000.00 2,737,266,252.93 12,596,300.00 2,862,720,552.93
capital
1. Owners’ devoted capital 112,858,000.00 2,737,266,252.93 12,596,300.00 2,862,720,552.93
2. Amount calculated into owners’ equity
paid in shares
3. Other
(IV) Profit distribution 56,429,000.00 -260,469,198.50 -28,831,510.97 -232,871,709.47
1. Withdrawal of surplus reserves 56,429,000.00 -56,429,000.00
2. Withdrawal of general risk provisions
3. Distribution for owners (or shareholders) -204,040,198.50 -28,831,510.97 -232,871,709.47
4. Other
(V) Carrying forward internal owners’
equity
1. Capital reserves conversed to capital
(share capital)
2. Surplus reserves conversed to capital
(share capital)
3. Remedying loss with surplus reserve
4. Other
(VI) Reasonable reserve
1. Withdrawal in the report period 18,232,197.57 2,071,770.49
2. Usage in the report period 18,232,197.57 2,071,770.49
(VII)Others
IV. Balance at the end of the report period 680,133,995.00 3,689,694,029.52 340,066,997.50 3,946,085,733.22 305,003,245.53 8,960,984,000.77
Legal Representative: Chen Xuejun Person in charge of accounting works: Ou Jianbin Person in charge of accounting institute: Ou Jianbin
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
8. Statement on Changes of Owners’ Equity of Parent Company
Prepared by Weifu High-Technology Group Co., Ltd
Amount in this period
In RMB
Amount in this period
Item Paid-in
Less: Treasury Reasonable General risk Total Owners’
capital(or share Capital reserves Surplus reserves Retained profit
Stock reserve provision equity
capital)
I. Balance at the end of the last year 680,133,995.00 3,717,757,419.50 340,066,997.50 2,715,439,176.46 7,453,397,588.46
Add: Changes of accounting policy
Error correction of the last period
Other
II. Balance at the beginning of this year 680,133,995.00 3,717,757,419.50 340,066,997.50 2,715,439,176.46 7,453,397,588.46
III. Increase/ Decrease in this year (Decrease is
65,789,575.00 325,414,094.50 391,203,669.50
listed with ―-‖)
(I) Net profit 529,454,293.00 529,454,293.00
(II) Other consolidated income 65,789,575.00 65,789,575.00
Subtotal of (I) and (II) 65,789,575.00 529,454,293.00 595,243,868.00
(III) Owners’ devoted and decreased capital
1. Owners’ devoted capital
2. Amount calculated into Owners’ equity paid in
shares
3. Other
(IV) Profit distribution -204,040,198.50 -204,040,198.50
1. Withdrawal of surplus reserves
2. Withdrawal of general risk provisions
3. Distribution for owners (or shareholders) -204,040,198.50 -204,040,198.50
4. Others
(V) Carrying forward internal owners’ equity
1. Capital reserves conversed to capital (share
capital)
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
2. Surplus reserves conversed to capital (share
capital)
3. Remedying loss with surplus reserve
4. Others
(VI) Reasonable reserve
1. Withdrawal in the report period 3,048,216.01
2. Usage in the report period 3,048,216.01
(VII) Others
IV. Balance at the end of the report period 680,133,995.00 3,783,546,994.50 340,066,997.50 3,040,853,270.96 7,844,601,257.96
Amount at last year
In RMB
Amount at last year
Item Paid-in
Less: Treasury Reasonable General risk Total Owners’
capital(or share Capital reserves Surplus reserves Retained profit
Stock reserve provision equity
capital)
I. Balance at the end of the last year 567,275,995.00 923,981,806.57 283,637,997.50 2,237,035,401.84 4,011,931,200.91
Add: Changes of accounting policy
Error correction of the last period
Other
II. Balance at the beginning of this year 567,275,995.00 923,981,806.57 283,637,997.50 2,237,035,401.84 4,011,931,200.91
III. Increase/ Decrease in this year (Decrease is
112,858,000.00 2,793,775,612.93 56,429,000.00 478,403,774.62 3,441,466,387.55
listed with ―-‖)
(I) Net profit 738,872,973.12 738,872,973.12
(II) Other consolidated income 56,509,360.00 56,509,360.00
Subtotal of (I) and (II) 56,509,360.00 738,872,973.12 795,382,333.12
(III) Owners’ devoted and decreased capital 112,858,000.00 2,737,266,252.93 2,850,124,252.93
1. Owners’ devoted capital 112,858,000.00 2,737,266,252.93 2,850,124,252.93
2. Amount calculated into Owners’ equity paid in
shares
3. Other
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
(IV) Profit distribution 56,429,000.00 -260,469,198.50 -204,040,198.50
1. Withdrawal of surplus reserves 56,429,000.00 -56,429,000.00
2. Withdrawal of general risk provisions
3. Distribution for owners (or shareholders) -204,040,198.50 -204,040,198.50
4. Others
(V) Carrying forward internal owners’ equity
1. Capital reserves conversed to capital (share
capital)
2. Surplus reserves conversed to capital (share
capital)
3. Remedying loss with surplus reserve
4. Others
(VI) Reasonable reserve
1. Withdrawal in the report period 4,688,219.42 4,688,219.42
2. Usage in the report period 4,688,219.42 4,688,219.42
(VII) Others
IV. Balance at the end of the report period 680,133,995.00 3,717,757,419.50 340,066,997.50 2,715,439,176.46 7,453,397,588.46
Legal Representative: Chen Xuejun Person in charge of accounting works: Ou Jianbin Person in charge of accounting institute: Ou Jianbin
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
I I I . Company profile
1. Historical origin of the Company
By the approval of STGS (1992) No. 130 issued by Jiangsu Economic Restructuring Committee, Weifu
High-Technology Group Co., Ltd. (hereinafter referred to ―the Company‖ or ―Company‖) was established as a
company of limited liability with funds raised from targeted sources, and registered at Wuxi Administration for
Industry & Commerce in October 1992. The original share capital of the Company totaled RMB 115.4355 million,
including state-owned share capital amounting to RMB 92.4355 million, public corporate share capital amounting
to RMB 8 million and inner employee share capital amounting to RMB 15 million.
In the year of 1994 and 1995, the Company was restructured and became a holding subsidiary of Wuxi Weifu
Group Co., Ltd (hereinafter referred to as ―Weifu Group‖).
By the approval of Jiangsu ERC and Shenzhen Securities Administration Office in August 1995, the Company
issued 68 million special ordinary shares (B-share) with value of RMB 1.00 for each, and the total value of those
shares amounted to RMB 68 million. After the issuance, the Company’s total share capital increased to RMB
183.4355 million.
By the approval of CSRC in June 1998, the Company issued 120 million RMB ordinary shares (A-share) at
Shenzhen Stock Exchange through on-line pricing and issuing. After the issuance, the total share capital of the
Company amounted to RMB 303.4355 million.
In the middle of 1999, deliberated and approved by the Board and Shareholders’ General Meeting, the Company
implemented the plan of granting 3 bonus shares for each 10 shares. After that, the total share capital of the
Company amounted to RMB 394.46615 million, of which state-owned shares amounted to RMB 120.16615
million, public corporate shares RMB 10.4 million, foreign-funded shares (B-share) RMB 88.40 million, RMB
ordinary shares (A-share) RMB 156 million and inner employee shares RMB 19.5 million.
In the year 2000, by the approval of the CSRC and based upon the total share capital of 303.4355 million shares
after the issuance of A-share in June 1998, the Company allotted 3 shares for each 10 shares, with a price of RMB
10 for each allotted share. Actually 41.9 million shares was allotted, and the total share capital after the allotment
increased to RMB 436.36615 million, of which state-owned corporate shares amounted to RMB 121.56615
million, public corporate shares RMB 10.4 million, foreign-funded shares (B-share) RMB 88.4 million and RMB
ordinary shares (A-share) RMB 216 million.
In April 2005, Board of Directors of the Company has examined and approved 2004 Profit Pre-distribution Plan,
and examined and approved by 2004 Shareholders’ General Meeting , the Company distributed 3 shares for each
10 shares to the whole shareholders totaling to 130,909,845 shares in 2005.
The Company registered at the Wuxi High and New Technology Development Zone and the registration number
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
was 320200000014926. The Company belongs to the mechanical industry and mainly engages in the manufacture
and sales of oil injection system and its accessories.
According to the Share Merger Reform Scheme of the Company that passed by related shareholders’ meeting of
Share Merger Reform and SGZF [2006] No.61 Reply on Questions about State-owned Equity Management in
Share Merger Reform of Weifu High-Technology Co., Ltd. issued by State-owned Assets Supervision &
Administration Commission of Jiangsu Province, the Weifu Group etc. 8 non-circulating shareholders arranged
pricing with granting 1.7 shares for each 10 shares to circulating A-share shareholders (totally granted 47,736,000
shares), so as to realize the originally non-circulating shares can be traded on market when satisfied certain
conditions, the scheme has been implemented on April 5, 2006.
On 27 May 2009, Weifu Group satisfied the consideration arrangement by dispatching 0.5 shares for each 10
shares based on the number of circulating A shares as prior to Share Merger Reform, according to the aforesaid
Share Merger Reform, with an aggregate of 14,039,979 shares dispatched. Subsequent to implementation of
dispatch of consideration shares, Weifu Group then held 100,021,999 shares of the Company, representing
17.63% of the total share capital of the Company.
Pursuant to the document (XGZQ(2009)No.46) about ―Approval for Merger of Wuxi Weifu Group Co., Ltd. by
Wuxi Industry Development Group Co., Ltd.‖ issued by the State-owned Assets Supervision and Administration
Commission of Wuxi City Government, Wuxi Industry Development Group Co., Ltd. (hereinafter referred to as
Wuxi Industry Group) acquired Weifu Group. After the merger, Weifu Group was then revoked, and its assets and
credits & debts were transferred to be under the name of Wuxi Industry Group. Accordingly, Wuxi Industry
Group became the first largest shareholder of the Company since then.
In accordance with the resolutions of shareholders' meeting and provisions of amended constitution, and approved
by [2012] No. 109 document of China Securities Regulatory Commission, in Feb., the Company issued RMB
ordinary shares (A-share) of 112,858,000 shares to Wuxi Industry Groups and overseas strategic investor,
ROBERT BOSCH GMBH (hereinafter referred to as Germany BOSCH), face value was RMB 1 Yuan per share,
added registered capital of RMB112,858,000 Yuan , and the registered capital after change was RMB
680,133,995 Yuan. Wuxi Industry Group is the first majority shareholder of the Company, and Germany BOSCH
is the second majority shareholder of the Company.
In March 2013, the profit distribution plan for year of 2012 was deliberated and approved by the Board and annual
shareholders’ general meeting 2012, that is distributed more 5 share for every 10 shares to all shareholders,
totally 340,066,997 shares distributed.
2. Registered place, organization structure and head office of the Company
Registered place and head office of the Company: Wuxi, Jiangsu Province
The Company sets up Shareholders’ General Meeting, the Board of Directors and the Supervisory Committee.
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
The Company sets up Administration Department, Engineering Technology Research Institution, Human
Resources Department, Office of the Board, Risk Management Department, Information Systems Department,
Market & Strategy Plan Department, Party-masses Security Department, Finance Control Department, Project
Purchase Department, MS Business Segment, AC Business Segment, and subsidiaries such as Wuxi Weifu Leader
Catalytic Converter Co., Ltd. (referred to as Weifu Leader), Nanjing Weifu Jinning Co., Ltd. (referred to as Weifu
Jinning), and Wuxi Weifu Diesel System Co., Ltd. (referred to as Weifu Diesel System).
3. Business nature and major operation activities of the Company
Operation scope of parent company: manufacture of engine fuel oil system products, fuel oil system testers and
equipments; sales of energy-oriented machinery, hardware & electric materials, chemical products and raw
materials (other than chemical dangerous). Auto spare parts, autos (other than autos under-9 seats); repair of
engine, technological development and consultancy service of machinery industry; import and export business in
respect of diversified commodities and technologies (other than those commodities and technologies limited or
forbidden by the State for import and export) by self-operation and works as agent for such business
Major subsidiaries respectively activate in production and sales of engine accessories, auto spare parts, mufflers,
and purifiers.
4. Relevant party offering approval reporting of financial statements and date thereof
Financial statements of the Company were approved by the Board of Directors for reporting dated 23 August
2013.
IV. Major Accounting Policies, Accounting Estimation and Previous Errors of the Company
1. Basis of preparation of financial statements
The financial statement were stated in compliance with Accounting Standard for Enterprises No.30-Presentation
of Financial Statement, with recognitions and measurements made by reference to Accounting Standard for
Enterprises and Application Instruments thereof promulgated by the Ministry of Finance dated 15 February 2006
in respect of the actual transactions and proceedings, on a basis of ongoing operation.
2. Statement on observation of Accounting Standard for Enterprises
Financial statements prepared by the Company were in accordance with requirements of Accounting Standard for
Enterprises, which truly and completely reflected the financial information of the Company, such as financial
position, operation achievements and cash flow.
3. Accounting period
The accounting period of the Company comprises of annual period and interim period, among which, the annual
period commences from 1 January to 31 December, and interim period includes monthly, quarterly and half-year.
4. Currency used in book-keeping
The Company’s reporting currency is the RMB Yuan.
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5. Accounting treatment methods for business combination under and not under the same control
(1)Business combination under the same control
Business combination under the same control: consideration paid by acquirer for combination and net assets
acquired by him shall all be measured with carrying value. Difference between carrying values of net assets and
combination consideration respectively obtained and paid by acquirer over total par value of shares in issue shall
be used to adjust capital reserve; when capital reserve is insufficient for offset, then retained profit shall be
adjusted. All direct related expenses arising from business combination, including auditing expenses paid for
combination, evaluation expenses and law service expenses, shall be recorded in current gains and losses upon
occurrence; while procedure charge and commission arising from issuance of equity securities or bonds in relation
to business combination shall be accounted in initial measurement amount of shareholders’ equity or liabilities.
(2) Business combination not under the same control
Business combination not under the same control: combination cost paid by acquirer and net recognizable assets
obtained from combination shall be measured at fair value. In the event that difference between combination costs
over fair value of net recognizable assets obtained from combination is positive, thus such difference shall be
recognized as goodwill; if negative, and then shall be accounted in current gains and losses. All direct related
expenses arising from business combination including auditing expenses paid for combination, evaluation
expenses and law service expenses shall be recorded in business combination cost; while procedure charge and
commission arising from issuance of equity securities or bonds in relation to business combination shall be
accounted in initial measurement amount of shareholders’ equity or liabilities.
6. Preparation method for consolidated statements
(1) Preparing method of consolidated financial statements
(1) Confirmation principle of consolidation scope
Preparation of the consolidation financial statement of the Company mainly complied with the consolidation
scope recognized by Parent Company Theory, details consolidation scope as:
①More than half of the equity capital of the investee enterprise that owned by Parent company, directly/indirectly
and jointly owned more than half of the equity capital by indirectly and directly included;
②Other investee enterprises control by Parent company including:
A. Holding more than half of voting right of the investee through agreement with other investors of the investee
enterprises;
B. Having the rights of financial and operation strategy controlled according to Article of Association or
Agreement;
C. Having the rights of appointment and dismissal on majority personnel’s in Board or in similar power institution
of the enterprise;
D. Having more than half of the rights to vote in Board or similar power institution of the enterprise.
(2) measures used in consolidation
①The Company consolidations permit since the day of actual control right obtained; cease consolidation since the
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day of control right lost. Consolidation financial statement based on the financial statement of the Company and
other relevant information of vary subsidiaries that joint in the consolidation scope, adjusted long-term equity
investment to subsidiaries according to equity method, off-setting the investment, transaction and contacts
between the Company and vary subsidiaries that in the consolidation scope, consolidated for preparation after
minority shareholders’ gains/loss and minority shareholders’ equity calculation.
②Concerning the different accounting policy or accounting period between the Company and subsidiaries,
consolidating after adjustment on subsidiaries’ financial statement based on the Company’s accounting policy or
accounting period.
③Concerning the subsidiary obtained under combination with different control, adjusted several financial
statement of the subsidiary based on the fair value of recognizable net assets on purchased day while financial
statement consolidation; concerning the subsidiary obtained under combination with same control, considered
current status of being control by ultimate controller for consolidation while financial statement consolidation.
(2)Disclosure of related accounting method for buy-and-resell or sell-and-repurchase of equities in the same
subsidiary within two successive accounting years
Nil
7. Determination criteria of cash and cash equivalent
Cash equivalent represents such kind of investment featuring with short term (generally due within 3 months since
purchase day), active liquidity, being easy for converting to cash with already-known amount, as well as tiny
exposure to value change risks.
8. Foreign currency business and the conversion of foreign currency statement
(1) Foreign currency business
Foreign currency business is accounted with amount denominated in RMB as translated at the spot exchange rate
as of the occurrence day of such business. The occurred foreign currency exchange business or transactions with
foreign currency exchange involved shall be translated at the effective exchange rate (i.e. exchange rate adopted
by banks for such transactions) adopted by such transaction.
(2) Translation of foreign currency statement
As at balance sheet date, division between foreign currency monetary items and foreign currency non-monetary
items are dealt with according the to following principles:
Foreign currency monetary items are translated at spot exchange rate as of balance sheet date, and then recorded
in current gains and losses when happening during normal operation period; exchange gains and losses related to
borrowings for purchasing fixed assets are disposed with principle of capitalization of borrowing expense.
Monetary item represents the monetary capital, and assets or liabilities respectively received or paid at fixed or
insurable amount, among other things, stock cash, bank deposit, account receivables, other receivables, long-term
receivables, short-term loans, account payables, other payables, long-term loans, bond payables and long-term
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
payables, etc.
Foreign currency non-monetary items are translated at spot exchange rate as of transaction date, with no change in
its amount accounted in standard currency. Non-monetary items represent items except for monetary items.
As for foreign currency non-monetary items measured at fair value, translation is subject to the spot exchange rate
as of the date when fair value is recognized. Difference between the accounted standard currency amount
subsequent to translation and its original accounted standard currency amount is dealt with as movement in fair
value (movement in exchange rate included), and then recorded in current gains and losses.
9. Financial instruments
Financial instruments including financial assets, financial liability and equity instrument
(1) Classification of financial instruments
In terms of investment purposes and economic natures, the Company divides its financial assets into transactional
financial assets, financial assets available for sale, account receivables and held-to-maturity investments, among
which, transactional financial asset is measured at fair value and movement of its fair value is recorded in current
gains and losses; financial asset available for sale is measured at fair value and movement of its fair value is
recorded in shareholders’ equity; account receivables and held-to-maturity investments are measured at amortized
cost.
(2) Recognition basis and measurement method for financial instruments
In the case that when a company constitutes one party to financial instrument agreement, one item of financial
asset or financial liability shall then be recognized.
In terms of economic nature, the Company divides its financial liabilities into two groups, namely financial
liabilities at fair value through gains and losses and other financial liabilities at amortized cost.
(3) Recognition basis and measurement method for transfer of financial assets
That the Company grants or delivers financial assets to party other than the issuer of such financial assets equals
transfer of financial assets. Financial assets transferred could be the entire or part of such financial assets. Two
forms are listed as follows:
①Transfer of right for collecting cash flow of financial assets to another party;
②Transfer financial assets to another party, while the aforementioned right is retained, with obligation of paying
such cash flow to final collector.
In the even that the Company has transferred almost all risks and remunerations arising from ownership of all or
part financial assets to another party, accordingly, recognition for such entire or part financial assets shall be
ceased. Gains and losses are determined by the received consideration less the carrying value of the transferred
financial assets. Meanwhile, the original accumulated gains or losses of financial assets recognized in the owners’
equity shall transferred to gains and losses; when all risks and remunerations attached to ownership are retained,
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
recognition for such entire or part financial assets shall continue, and the consideration received shall be viewed as
financial liabilities.
As for the financial assets which the Company has neither transferred nor retained all risks and remunerations
attached to ownership of such financial assets, while control upon such financial assets still exists, recognition
shall be conducted in light of the degree of its continuous involvement in the transferred financial assets.
Accordingly, relevant liabilities shall be recognized.
(4) Recognition condition for termination of financial liability
Upon satisfaction of one of the following condition, financial assets will immediately experience discontinued
recognition:
①Right entitled by contract in respect of collection of cash flow from such financial asset terminates.
②Such financial assets have been transferred and meet discontinued recognition condition for financial assets as
regulated by Accounting Standard for Enterprise No.23-Transfer of Financial Assets.
Only when present obligations under financial liability have been released entirely or partly, could cease
recognition of such financial liability or part thereof.
(5) Deciding of fair value of financial assets and financial liabilities
① In case of an active market, financial assets or financial liabilities which are respectively held and proposed to
be undertaken by the Company are subject to the prevailing offer price of such market, and financial assets or
financial liabilities which are respectively proposed to be held and undertaken by the Company are subject to the
prevailing asked price of such market. In case of absence of such prevailing offer or asked prices, market
quotation of the latest transaction or adjusted market quotation of the latest transaction shall be adopted, except
that there is clear evidence showing that such market quotation is not fair value.
② In case of absence of an active market, the Company recognizes fair value by reference to valuation
technology which includes reference to the price adopted by parties who are willing to make business and
knowing conditions quite well in their latest transactions, reference to prevailing fair values of other financial
instruments with similar essence, discount cash flow method and option pricing pattern.
(6) Impairment test method and impairment provision method for financial assets (not including account
receivables)
The Company conducts inspection on carrying values of financial assets, except for transactional financial assets,
as at balance sheet date. If there is objective evidence indicating that impairment has happened to financial assets,
impairment reserve then shall be provided. Financial asset with great amount in single item is subject to separate
impairment test. In case of any objective evidence indicating that impairment has happened to such financial asset,
impairment loss shall be recognized and recorded in current gains and losses. As for the financial assets with no
great amount in single item and those which prove to be not impaired after separate test, the Company will
conduct impairment test on basis of credit portfolio which is determined in light of customers’ credit records and
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historical bad debts, so as to recognize impairment loss.
Objective evidence indicating impairment happens to financial assets means the proceedings meeting the three
characteristics: actually occurred subsequent to initial recognition of such financial assets, bring influence over the
estimated future cash flow of such financial assets, and such influence could be reliably measured by the
Company.
The followings are included in objective evidences indicating impairment happens to financial assets:
A: Serious financial difficulty happens to issuer or debtor;
B: Breach of terms of contract by debtor, such as breach or overdue in repaying interest or principal;
C: Creditor makes concession for debtors who experience financial trouble in light of consideration for economy
or laws;
D: Debtor is very likely to experience bankrupt or financial reorganization;
E: Financial assets are not able to be traded in active market since material financial difficulty happens to issuer;
F: It is unable to judge whether cash flow from certain asset in a group of financial assets has decreased, while it
is finally found that the estimated future cash flow of such financial asset has actually decreased since its initial
recognition and the decrease can be reliably measured by reference to the general valuation based on open data.
For example, payment capacity of debtor of such financial assets portfolio gradually worsens, or unemployment in
country or region where the debtor locates risen, price of guaranty falls greatly in the place where it locate, and the
industry in which it belongs to is unpromising;
G: Material negative changes happen to technologies, markets, economy or law environment in which debtor
operates, which leads to that equity instrument investor is not likely to be able to recover investment cost;
H: Fair value of equity instrument investment experiences severe or non-temporary falling;
I: Other objective evidence indicating impairment happens to financial assets.
In the event of impairment in financial asset at amortized cost, impairment loss is calculated based on the
difference between carrying value and present value of estimated future cash flow discounted at effective interest
rate.
After impairment loss is recognized for financial asset at amortized cost, if there is objective evidence indicating
value of such financial asset has recovered, which is objectively related to proceedings occurred after recognition
of such loss, the original impairment loss shall be reversed and recorded in current gains and losses. However, the
carrying value subsequent to such reversal shall not exceed the amortized cost of such financial asset as at the
reversal date on assumption that such impairment loss had not been provided.
For impairment in financial assets available for sale, the original accumulated loss through owners’ equity directly
arising from falling fair value shall be reversed to current gains and losses
(7)As for reclassification of un-matured held-to-maturity investments into financial assets available for sale,
please explain the holding purposes or references for change of ability
Nil
10. Recognition standards and accrual method for bad debt provision for accounts receivable
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(1) Bad debt provision for accounts receivable with single major amount
The Company’s account receivables with above RMB 1 million in single item is defined as account
Determine basis or
receivables with significant amount in single item. Such kind of account receivables are recognized as bad
amount standards for
debts in case of impossible collection though with bankrupt properties or heritages of debtors due to their
single significant
bankrupt or death, or in the even that debtors haven’t implemented their repayment obligations over 3
amount
years upon expiration and there are obvious evidences indicating impossible collection.
withdrawal method for
As for account receivables with significant amount in single item which can not be directly recognized as
account with single
bad debts, debt provision shall be provided according to the Company’s policies by aged analysis method.
significant amount and
100% bad debt provision shall be provided for those account receivables with great amount in single item
withdrawal single item bad
which can be directly recognized as bad debts
debt provision
(2) Accounts whose bad debts provision was accrued by combination
Methods on withdrawal of bad debt
Combination Basis for combination recognized
provision based on combination
A combination classified by age as major risk characteristic,
Age combination Age analysis method
withdrawal bad debt provision by age analysis method
In combination, accounts whose bad debts provision was accrued by age analysis:
√ applicable □ not-applicable
Account age Rate for receivables (%) Rate for other receivables (%)
Within 6 months 0% 0%
6 months to 1 year 10% 10%
1－2 years 20% 20%
2－3 years 40% 40%
Over 3 years 100% 100%
3－4 years 100% 100%
4－5 years 100% 100%
Over 5 years 100% 100%
In combination, withdrawal proportion of bad debt provision based on balance proportion:
□applicable √not-applicable
In combination, withdrawal proportion of bad debt provision based on other methods:
□applicable √not-applicable
(3) Accounts with single significant amount and bad debts provision accrued individually
Account receivable meeting the following conditions: account receivable whose single amount is not
Reasons for withdrawal
significant, impossible collection though with bankrupt properties or heritages of debtors due to their
single item bad debt
bankrupt or death, debtors haven’t implemented their repayment obligations over 3 years upon expiration
provision
and there are obvious evidences indicating impossible collection.
Withdrawal method for 100% for provision percentage for percentage of total accounts receivable outstanding and 100% for
bad debt provision provision percentage for percentage of total other receivable outstanding
11. Inventories
(1)Classification of inventories
The Company’s inventories are categorized into stock materials, product in process and stock goods etc.
(2)Pricing for delivered inventories
Pricing method: Other
A. Generally, stock materials are calculated at planned cost. Material cost difference is individually set according
to classification of grant types. Pursuant to the difference between the planned cost of the received or delivered
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raw materials and the material cost the aforesaid cost should share after carrying forward at period-end, the
Company adjusts the planned cost to effective cost; finished products are priced at effective costs, and carried
forward to operating cost by weighted average method when being delivered;
B. Products in process are priced at effective costs, and carried forward to finished products at actually occurred
cost;
C. Finished self-produced products are priced at effective costs, and carried forward to operating cost by weighted
average method; external purchase goods (from import and export trades) are carried forward to sales cost by
individual pricing method.
(3)Recognition evidence for net realizable value of inventories and withdrawal method for inventory
impairment provision
Inventories as at period-end are priced at the lower of costs and net realizable values; at period end, on the basis of
overall clearance about inventories, inventory impairment provision is withdrew for uncollectible part of costs of
inventories which result from destroy of inventories, out-of-time of all and part inventories, or sales price
lowering than cost. Inventory impairment provision for stock goods and quantity of raw materials is subject to the
difference between costs of single inventory item over its net realizable value. As for other raw materials with
large quantity and comparatively low unit prices, inventory impairment provision is withdrawn pursuant to
categories.
As for inventories such as stock goods and materials available for direct sales, their net realizable values are
determined by their estimated selling prices less estimated sales expenses and relevant taxes. For material
inventories held for purpose of production, their net realizable values are determined by the estimated selling
prices of finished products less estimated costs, estimated sales expenses and relevant taxes accumulated till
completion of production. As for inventories held for implementation of sales contracts or service contracts, their
net realizable values are calculated on the basis of contract prices. In the event that inventories held by a company
exceed order amount as agreed in sales contracts, net realizable values of the surplus part are calculated on the
basis of normal sale price.
(4) Inventory system
Inventory system: Perpetual Inventory System
Inventory system is perpetual inventory system.
(5) Amortization of low-value consumables and wrappage
Amortization Method for low-value consumables: one-off amortization
Amortization Method for wrappage: one-off amortization
12. Long-term equity investment
(1)Recognition of investment cost
Long-term equity investment mainly includes the equity investments made to subsidiaries, joint ventures and
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associates, and the equity investment which couldn’t entitle the Company to conduct control, common control or
significant influence over the invested units and which have no quotation price in active market and whose fair
value could not be able to measured surely. Initial investment cost of long-term equity investment of the Company
is recognized by the following ways based on different acquisition ways:
①In situation of a long-term equity investment acquired through business combination under common control,
the carrying value of the owners’ equity of the acquired company as at the combination date is deemed as initial
investment cost for this long-term equity investment; difference between acquisition cost and initial investment
cost is used to adjust capital reserve. In case of insufficient capital reserve for offset, retained profit shall be then
adjusted.
②In situation of a long-term equity investment acquired through business combination not under common control,
the initial investment cost of long-term equity investment is determined at the fair value of assets involved at
trading dated, equity instrument issued as well as liabilities occurred or undertaken. Realizable assets and
liabilities undertaken by such assets (include contingent liabilities) of the party being combined as at the
combination date are all measured at fair values, without consideration to amount of minority interests. The
surplus of combination cost less fair value net realizable assets of the party being combined is recorded as
goodwill, and the deficit is directly recognized in the consolidated statement of gains and losses.
③Long-term investments obtained through other ways:
A. Initial investment cost of long-term equity investment obtained through cash payment is determined according
to actual payment for purchase;
B. Initial investment cost of long-term equity investment obtained through issuance of equity securities is
determined at fair value of such securities;
C. Initial investment cost of long-term equity investment injected by investor is determined at the agreed value in
investment contract or agreement. In case of an unfair contract or agreement value, measurement shall be
conducted at fair value;
D. Initial investment cost of long-term equity investment (exchanged-in) obtained through exchange with
non-monetary assets, which is of commercial nature, is determined at fair value of the assets exchanged-out;
otherwise determined at carrying value of the assets exchanged-out if it is not of commercial nature;
E. Initial investment cost of long-term equity investment obtained through debt reorganization is determined at
fair value of such investment.
(2)Recognition method for subsequent measurement and gains and losses
①Investment to subsidiaries is calculated under cost method:
it is referred to the equity investment made to subsidiaries held by the Company which can conduct control upon
invested unit. If the Company holds over 50% equities of an entity or has control power in such entity though
equity holding is fewer than 50%, such entity comprises a subsidiary of the Company.
②Investment to joint ventures or associates is calculated under equity method: it is referred to the equity
investment made to joint ventures held by the Company which can conduct common control upon the joint
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venture with other joint parties; It is referred to the equity investment made to associates held by the Company
which has material influence upon such associates. In the event that the Company holds equities of an entity from
20% to 50% and no essential control exists in such entity meanwhile or that though the Company holds equities of
an entity fewer than 20% while it has material influence upon such entity, then the entity shall be deemed as a
joint venture or associate of the Company. When recognizing its share in net gains and losses of the invested
unit, the Company shall achieve recognition based on fair values of various realizable assets of such invested unit
upon obtaining such investment after adjustment in net profit of such invested unit. In case of any inconsistency of
the accounting policies and accounting periods adopted by invested unit and the Company, financial statements of
such invested unit shall be subject to adjustment in compliance with accounting policies and accounting periods
adopted by the Company, so as to recognize investment gains and losses on that basis. As for treatment for other
movement of owners’ equity other than net gains and losses of invested unit, carrying value of long-term equity
investment shall be subject to adjustment which shall be then recorded in owners’ equity.
③Long-term equity investment to entities where the Company has no control, common control or material
influence:
Long-term equity investment which has no quotation in active market and whose fair value could not be reliably
measured is calculated under cost method.
Long-term equity investment which has quotation in active market or whose fair value could be reliably measured
is presented under item of financial asset available for sale, and is measured at fair value, and fair value movement
thereof shall be recorded in shareholders’ equity.
(3)Reference for confirmation of common control and material influence in invested unit
Common control over invested unit means common control over certain economic activity pursuant to contract
agreement, and only exists when investors who need to share control power on material financial and operation
decisions related to such economic activity make unanimous agreement. That a party has material influence upon
invested unit means that such party has power to join decision-making related to finance and operation decisions
of the invested unit, while no ability of control or joint control with other parties upon establishement of such
decisions.
(4)Impairment test method and withdrawal method for impairment provision
If any impairment indication is found in long-term equity investment by the Company in its period-end inspection,
the recoverable amount shall be estimated. In case of such recoverable amount lowering than its carrying value,
impairment provision shall be withdrawn for long-term investment by reference to the difference of the aforesaid
two items.
As for long-term equity investment which has no quotation in active market and whose fair value could not be
reliably measured, its impairment loss is determined by reference to its carrying value less the amount recognized
through discounting future cash flow at the prevailing market yield ratio of similar financial assets, and then
recorded in current gains and losses.
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As for long-term equity investment except for financial assets available for sale, its impairment provision will not
be reversed during asset permanent period once it is withdrawn. Impairment loss of financial assets available for
sale can be reversed through equities.
13. Investment real estate
Investment real estate is stated at cost. During which, the cost of externally purchased properties
held-for-investment includes purchasing price, relevant taxes and surcharges and other expenses which are
directly attributable to the asset. Cost of self construction of properties held for investment is composed of
necessary expenses occurred for constructing those assets to a state expected to be available for use. Properties
held for investment by investors are stated at the value agreed in an investment contract or agreement, but those
under contract or agreement without fair value are stated at fair value.
The Company adopts cost methodology amid subsequent measurement of properties held for investment, while
depreciation and amortization is calculated using the straight-line method according to their estimated useful lives.
The basis of provision for impairment of properties held for investment is referred to the provision for impairment
of relevant fixed assets.
14. Fixed assets
(1) Recognition of fixed assets
Fixed assets refer to the buildings, machinery and equipment, transportation vehicle and other equipments related
to operation with useful lives of more than one year and held for production of products, provision of labor, lease
or operation. A fixed asset is recognized when it is Contingent that the relevant economic benefits flow into the
enterprise and the cost of the fixed assets can be reliably measured.
(2) Basis of recognition and method of measurement of fixed assets by financing lease
The assets will be classified as fixed assets by financing lease if the Company satisfies one or more of the
following conditions:
①As stipulated in the lease agreement (or a reasonable judgment made pursuant to relevant conditions at the
commencement date of the lease), the ownership of fixed assets by financing lease can be passed to the Company
when the lease expires;
②As the Company has a option to acquire the leased fixed assets and the agreed price of purchase is far below the
fair value of leased fixed assets at the time of exercise of the option, it is certain that the Company will exercise
the option at the commencement date of the lease;
③Despite that the ownership of fixed assets is not transferable, the lease period represents 75% or more of the
useful life of leased fixed assets;
④The present value of the minimum lease payment by the Company at the commencement date of lease is equal
to 90% or more of the fair value of leased fixed assets at the commencement date of lease. The present value of
the minimum lease payment received by the lesser at the commencement date of lease is equal to 90% or more of
the fair value of leased fixed assets at the commencement date of lease;
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⑤ Due to the special nature of the leased assets, those assets can be used only by the Company if without any
substantial renovation;
⑥The fixed assets by financing lease is carried at the lower of the fair value of the leased fixed assets at the
commencement date of lease and the present value of the minimum lease payment.
(3) Depreciation of fixed assets
Classification Depreciation time(Year) Residual rate (%) Annual depreciation rate (%)
House and Building 20-35 5% 2.71-4.75%
Machinery equipment 10 5% 9.5%
Electronic equipment 3-5 5% 19-31.67%
Transportation equipment 4-5 5% 19-23.75%
Other equipment 5-10 5% 9.5-19%
(4) Impairment testing of fixed assets and provision for impairment
At the end of the Reporting Period, the Company carries out a review on fixed assets. If the following conditions
exist, the Company shall value the recoverable amount of fixed assets in order to determine whether there is any
impairment of fixed assets. For fixed assets with recoverable amount falling below the carrying amount, the
Company will make a provision for impairment loss on fixed asset equals to an amount of the difference between
the recoverable amount and the carrying amount. Provision is made based on a single item basis, and based on a
group of assets to which the assets belong to if it is hard to estimate the recoverable amount of the single assets.
The impairment provision cannot be reversed in the period of duration of the assets once it is provided.
①There is a significant decrease in the market price of fixed assets. Such decrease is beyond any decrease to the
large extent in the market price as time goes by or any expected decrease from normal use of fixed assets;
②Fixed assets are obsolete and damaged;
③There is a significant negative change to the intended use of fixed assets, such as idleness or forthcoming
idleness of the fixed assets, termination or restructuring of the operating business to which the fixed assets belong
to and disposal of fixed assets earlier than the end of its useful life, thereby resulting in negative influence on the
Company;
④There is a significant current or recent change in the economic, technological and legal environment in which
the Company operates and in the market in which fixed assets are, thereby resulting in negative influence on the
Company;
⑤There is a significant increase in the market interest rate or return on investment in other markets, posing a
potential impact on the discount rate on the calculation of the present value of the estimated future cash flows,
thereby resulting in significant decrease in recoverable amount of fixed assets;
⑥There is evidence from internal reports of the enterprise that the economic benefits of the fixed assets have been
lower or will be lower than expected, for example, the net cash flows or operating profits (or losses) of the fixed
assets are far lower (or higher) than the expected amount;
⑦Other circumstances showing an indication of impairment of fixed assets.
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(5) Other explanation
Nil
15. Construction in process
(1) Classification of construction in progress
Calculated construction in process by items defined.
(2) Standard and timing of converting projects under construction into fixed assets
From the date on which the fixed assets built by the Company come into an expected usable state, the projects
under construction are converted into fixed assets on the basis of the estimated value of project estimates or
pricing or project actual costs, etc. Depreciation is calculated from the next month. Further adjustments are made
to the difference of the original value of fixed assets after final accounting is completed upon completion of
projects; however, the original depreciation is not adjusted.
(3) Method of impairment testing and impairment provision for construction in progress
The Company carries out a comprehensive inspection of projects under construction at the conclusion of each year.
Where there is an indication of impairment, the recoverable amount is estimated and impairment is provided on
the basis of the difference between the amount recoverable by a project and the carrying amount of such project.
Impairment provision is not reversed during the period of duration of the assets once it is provided.
16. Borrowing costs
(1) Recognition of capitalization of borrowing costs
Borrowing costs comprise interest occurred, amortization of discounts or premiums, ancillary costs and exchange
differences in connection with foreign currency borrowings. The borrowing costs of the Company, which incur
from the special borrowings occupied by the fixed assets that need more than one year (including one year) for
construction, development of investment properties or inventories or from general borrowings, are capitalized and
recorded in relevant assets costs; other borrowing costs are recognized as expenses and recorded in the profit or
loss in the period when they are occurred. Relevant borrowing costs start to be capitalized when all of the
following three conditions are met:
① Capital expenditure has been occurred;
② Borrowing costs have been occurred;
③Acquisition or construction necessary for the assets to come into an expected usable state has been carried out.
(2) Period of capitalization of borrowing costs
The borrowing costs in relation to acquisition or construction of fixed assets, investment properties and
inventories, incurring before the assets reach an expected usable state or saleable state, are recorded in the costs of
the assets when the above conditions of capitalization are met. When acquisition or construction of fixed assets
undergo abnormal suspension, and the suspension lasts for more than 3 months consecutively, then the
capitalization of suspension borrowing ceases and will be recognized as current expenses, until the acquisition or
construction of assets start again. When the expected usable state or saleable state is achieved, capitalization of
borrowing costs ceases, and the borrowing costs incurring subsequently are directly recorded into financial
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expenses in the period when they are occurred.
(3) Capitalize cost suspension
When acquisition or construction of fixed assets undergo abnormal suspension, and the suspension lasts for more
than 3 months consecutively, then the capitalization of suspension borrowing ceases and will be recognized as
current expenses, until the acquisition or construction of assets start again. When the expected usable state or
saleable state is achieved, capitalization of borrowing costs ceases, and the borrowing costs incurring
subsequently are directly recorded into financial expenses in the period when they are occurred.
(4) Calculation of capitalized amounts of borrowing costs
In respect of the special borrowings borrowed for acquisition, construction or production and development of the
assets qualified for capitalization, the amount of interests expenses of the special borrowings actually occurred in
the period less interest income derived from unused borrowings deposited in banks or less investment income
derived from provisional investment, are recognized.
With respect to the general borrowings occupied for acquisition, construction or production and development of
the assets qualified for capitalization, the capitalized interest amount for general borrowings is calculated and
recognized by multiplying a weighted average of the accumulated expenditure on the assets in excess of the
expenditure on the some assets of the special borrowings, by a capitalization rate for general borrowings. The
capitalization rate is determined by calculation of the weighted average interest rate of the general borrowings.
17. Biological assets
Nil
18. Oil/gas assets
Nil
19. Intangible assets
(1) Measurement of intangible assets
The intangible assets of the Company include land use rights etc.
The cost of a purchased intangible asset shall be determined by the expenditure actually occurred and other related
costs.
The cost of an intangible asset contributed by an investor shall be determined in accordance with the value
stipulated in the investment contract or agreement, except where the value stipulated in the contract or agreement
is not fair.
The intangible assets acquired through exchange of non-monetary assets, which is commercial in substance, is
carried at the fair value of the assets exchanged out; for those not commercial in substance, they are carried at the
carrying amount of the assets exchanged out.
The intangible assets acquired through debt reorganization, are recognized at the fair value.
As for the land use right of the Company, amortized by the terms transfer equally since date of transfer(dated with
land use right obtained).
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(2) Service life estimation for intangible assets with limited service life
(3) Determination basis for intangible assets with uncertain service life
Every period-end, re-checking the service life for intangible assets with uncertain service life
(4) Withdrawal of impairment of intangible assets
The Company tests impairment of the intangible assets with indefinite benefit years such as goodwill annually and
estimates their recoverable amounts and impairment of the intangible asset is provided at the difference between
the estimated recoverable amount and the carrying amount of such intangible assets.
A year-end review is conducted to other intangible assets. When there is an indication of impairment, the
recoverable amount is estimated and impairment of the intangible asset is provided at the difference between the
estimated recoverable amount and the carrying amount of such intangible assets. The impairment provision is not
reversed during the duration of the assets once it is provided.
①The intangible assets have been replaced by other new technology so that there is a material adverse effect on
their capacity to generate economic benefits for the Company;
②The market value has fallen substantially in the current period and is not expected to recover in the remaining
amortization period;
③ The intangible assets have exceeded the term protected by laws but some of them can still be used;
④Other circumstances sufficient to prove that impairment has been made actually.
(5) Divide the specific standards research stage and development stage
Expenditure in the research stage of the intangible assets with independent research and development should be
included in the profit or loss for the current period in which they are occurred; expenditure in the development
stage should be recognized as intangible assets (patent technologies and non-patent technologies) when all of the
following conditions are met:
①It is technically feasible that the intangible assets are completed for the purpose of their uses or sales;
②The Company has an intention to complete the intangible assets for their uses or the sale;
③Ways of creating economic benefits by intangible assets include proof of existing market of the products
manufactured by use of intangible assets or the existing market of intangible assets and the proof of the use if the
intangible assets are only for the Company’s internal use;
④The Company has sufficient technical and financial resources and other supporting resources to complete the
research and development of such intangible assets and are capable of using or selling such intangible assets;
⑤Expenditure occurred in the development stage of such intangible assets can be accurately calculated;
⑥The cycle of the product produced with the intangible assets is above one year.
(6) Calculation of expenditure for internal R&D projects
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20. Amortization of long-term prepaid expenses
Long-term expenses to be amortized of the Company the expenses that are already charged and with the beneficial
term of more than one year are evenly amortized over the beneficial term. For the long-term deferred expense
items cannot benefit the subsequent accounting periods, the amortized value of such items is all recorded in the
profit or loss during recognition.
21. Assets transfer with repurchase condition attached
Nil
22. Estimated liability
An obligation related to a contingency, such as guarantees provided to outsiders, pending litigations or arbitrations,
product warranties, redundancy plans, onerous contracts, reconstructing, expected disposal of fixed assets, etc.
shall be recognized as an estimated liability when all of the following conditions are satisfied:
(1) Recognition standards for estimated liability
①the obligation is a present obligation of the Company;
② it is Contingent that an outflow of economic benefits will be required to settle the obligation;
③the amount of the obligation can be measured reliably.
(2) Measurement method for estimated liability
Measure on the basis of the best estimates of the expenses necessary for paying off the contingencies
On the balance sheet date, the carrying amount of estimated liabilities is reviewed. If there is obvious evidence
that the carrying amount cannot actually reflect the current best estimates, then the carrying amount is adjusted
according to the current best estimates.
23. Shares payment and equity instrument
(1) Category of shares payment
Nil
(2) Recognition method for fair-value of equity instrument
Nil
(3) Basis of best estimation for vesting equity instrument
Nil
(4) Relevant accounting treatment for implementation, amendment and termination of shares payment
plan
Nil
24. Shares of the Company repurchased
Nil
25. Revenue
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(1) Detail judgment standards for recognition of selling goods revenue
①the Company has transferred to the buyer the significant risks and rewards of ownership of the goods;
②the Company retains neither continuing managerial involvement to the degree usually associated with
ownership nor effective control over the goods sold;
③the amount of revenue can be measured reliably;
④ it is Contingent that the associated economic benefits will flow into the Company;
⑤relevant cost occurred or about to occurred can be measured reliably.
Time point for demos tic sales revenue recognized: the Company delivery the goods agreed by the orders, on
arranged reconciliation date agreed with the buyer, make checks with buyers for the goods received from last
reconciliation date to the date for accounting, which have been examined by buyers, after checking by the two
parties, risk and remuneration have transfer to the buyer. The Company issued invoice to the buyer based on the
confirmed variety, quantity and amount, than the sales revenue will recognize on the reconciliation date. Time
point for overseas sales revenue recognized: after examine and verify by the customs, the Company recognize
sales revenue based on the exportation date seal on the customs declaration.
(2) Recognition of revenue of assets using right abalienation
Revenue from use by others of enterprise assets shall be recognized only when the associated economic benefit
can flow into the Company, and the amount of revenue can be measured reliably.
(3) Basis of recognition of labor revenue providing
Revenue from the rendering of services shall be recognized only when all of the following conditions are satisfied:
the amount of revenue and costs occurred or to be occurred for the transaction involving the rendering of services
can be measured reliably; the associated economic benefits can flow into the Company; the stage of completion of
the transaction can be measured reliably.
(4) Recognition basis and method of construction progress completion while recognize revenue from labor
service providing and from construction contract by percentage of completion method
26. Government Subsidies
(1) Category
The government subsidy is divided into government subsidy related to profits and government subsidy related to
assets.
(2) Accounting treatment
The government grants related to earnings are recognized as deferred earnings if they are used for compensating
the relevant expenses or losses of the Company in subsequent periods, and are recorded in the profit or loss in the
period of recognition of relevant expenses; if they are used to compensate the relevant expenses or losses occurred
of the Company, they are directly recorded in the profit or loss.
Asset-related government grants are recognized as deferred income, and are allocated evenly over the useful life
of related assets and are included in the current profit and loss. However, the government grants measured at the
nominal amount is recorded directly in the profit or loss.
27. Deferred income tax assets and deferred income tax liabilities
(1) Recognition basis for the deferred income tax assets
According to the difference between the carrying amount of assets and liability and its taxation basis, recognized
deferred income tax assets or deferred income tax liability on the applicable tax rate in the period, where such
assets expected to recover or such liability will pay. The deferred income tax assets shall be recognized to the
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amount of taxable income which it is most likely to obtain and which can be deducted from the deductible
temporary difference. On the balance sheet date, where there is any exact evidence showing that it is likely to
acquire sufficient amount of taxable income tax in a future period to offset against the deductible temporary
difference, the deferred income tax assets unrecognized in prior periods shall be recognized.
(2) Recognition basis for the deferred income tax liabilities
The carrying amount of deferred income tax assets shall be reexamined on balance sheet day. If it is unlikely to
obtained sufficient taxable income tax to offset the benefit of the deferred income tax assets, the carrying amount
of the deferred income tax assets shall be written down. When it is probable to obtain sufficient taxable income
taxes, such write-down amount shall be subsequently reversed.
28. Operation leasing, financing leasing
(1) Accounting treatment of operation leasing
Operating lease refers to other lease other than finance lease. The rental expenses of the operating leased assets are
recognized as relevant assets costs or expenses over the lease term on a straight-line basis.
(2) Accounting treatment of financing leasing
Finance lease refers to a lease that has transferred in substance all the risks and rewards related to the ownership
of an asset, no matter whether the ownership of it has been transferred eventually.
The finance lease assets are carried at the lower of the fair value of the leased assets and the present value of the
minimum lease payments on the lease beginning date, and the minimum lease payments are recorded in long-term
payables, with the difference as unrecognized finance expenses. The initial direct costs arising from finance lease
of the Company are recorded in the value of the leased assets. Depreciation and impairment are provided for the
finance lease assets according to the policies of the Company.
Where there is reasonable assurance that the ownership of the leased assets can be obtained when the lease term
expires, depreciation is provided for the leased assets over the estimated useful life. Otherwise, depreciation is
provided for the leased assets at the lower of the lease term and the estimated useful life of the leased assets.
The Company allocates the unrecognized financing expenses over the lease term by using the effective interest
rate method and in accordance with the principles of borrowing costs.
On the balance sheet date, the Company lists the difference of the long-term payables related to finance lease less
unrecognized financing expenses as finance lease payable and non-current liabilities due within one year
respectively.
(3) Accounting treatment of sale and leaseback
29. Assets held for sales
(1) Recognition of assets held for sales
Nil
(2) Accounting treatment of assets held for sales
Nil
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30. Assets securitization
Nil
31. Hedge accounting
Nil
32. Changes of major accounting policies and accounting estimation
Whether there have changes of major accounting policies and accounting estimation in report period or not
□ Yes √ No
There are no changes of major accounting policies and accounting estimation in report period
(1) Changes in accounting policies
Whether have changes in accounting policies in report period
□ Yes √ No
(2) Changes in accounting estimates
Whether have changes in accounting estimates in report period
□ Yes √ No
33. Error correction of previous accounting
Whether has error correction of previous accounting occurred in this period
□ Yes √ No
No error correction of previous been found
(1) Retrospective Restatement
Is there has errors of previous accounting adopt retrospective restatement in this period
□ Yes √ No
(2) Prospective Application
Is there has errors of previous accounting adopt retrospective restatement in this period
□ Yes √ No
34. Other major accounting policy, accounting estimation and preparation method for financial statement
(1) Goodwill
In the business combination not under the same control, the difference of the merger cost in excess of the fair
value of net identifiable assets of the acquired party is recognized as the goodwill.
Goodwill listed alone in financial statement, while conducting impairment testing, amortized book value of the
goodwill to assets group or assets combination benefit from synergy effect of expected enterprise combination. If
the recoverable amount of assets group or assets combination, that with goodwill amortized, lower its book value,
than recognized as impairment losses correspondingly. Impairment losses should deducting book value of
goodwill, amortized to assets group or assets combination, than deducting other book value of vary assets by
proportion in line with ratio of book value of vary assets other than goodwill in such assets group or assets
combination.
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(2) Employees’ remuneration
Employees’ remuneration includes: employees’ salaries, bonus, allowance and subsidies; welfare provision; social
insurance such as pension insurance, unemployment insurance and work injury insurance etc.; housing reserve
fund, labor union expenditures and staff education expenditures; benefits not in monetary value; compensation
paid for the termination of employment contracts with employees; relevant expenditures relating to the provision
of other services by employees.
In the accounting period in which employees provide service to the Company, payable employees’ remuneration is
recognized as liabilities. Other than the compensation for termination of the labor relationship with employees, the
employees’ remuneration is recorded in fixed assets costs, intangible assets costs, product costs or labor costs
respectively according to the beneficiaries of the services provided by employees. The employees’ remuneration
other than the above is directly recorded in the profit or loss.
Prior to the expiry of the labor contracts of employees, the compensation for termination of the labor relationship
with employees or encouraging employees to accept to be laid off is recognized as estimated liabilities and
recorded in the profit or loss.
(3) Accounting for income tax
The Company applies the balance sheet liability method for accounting of income tax. Current income tax and
deferred income tax is recorded in the profit or loss as income tax expenses or gains, but the income tax arising
from the following conditions is excluded:
①Business combination;
②The transaction events directly recognized in the owner’s equity.
(V) Taxation
1. Major taxes and tax rates
Tax Basis Tax rate
Tax rate for sale of goods is 17%; rate for exported commodities is stipulated by the state
VAT Sales of goods with declaration of export tax rebate, rate of tax may be ―exempted, credited and
refunded‖
Revenue from
Operation tax 5%
lease
City maintaining & Turnover tax
7%
construction tax payable
Corporation income
Taxable income 15% for the parent company
tax
Turnover tax
Educational surtax 5%
payable
The income tax rates applicable to each branch company or plant
The Company and its subsidiaries Weifu Jinning, Weifu Diesel System, Weifu Leader, Ningbo Weifu Tianli
Pressurized Technology Co., Ltd.(Weifu Tianli for short) and Wuxi Weifu Autocam Fine Machinery Co. Ltd.
(Weifu Autocam) are all high-tech enterprises, and enjoy a preferential tax rate of 15% according to relevant state
regulations on income taxation.
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
The income tax of Wuxi Weifu Mashan Oil Pump and Oil Nozzle Co., Ltd. (hereinafter referred to as ―Weifu
Mashan‖), Wuxi Weifu Chang’an Fuel Co., Ltd. (hereinafter referred to as ―Weifu Chang’an), Wuxi Weifu
International Trade Co., Ltd. (hereinafter referred to as ―Weifu International Trade‖), Jiangsu Weifu Nano
Technology Co., Ltd. (hereinafter referred to as ―Weifu Nano‖), Wuxi Weifu ITM Booster Technology Co.,
Ltd.(former Wuxi Weifu ITM Information Machinery Development Co., Ltd. ; hereinafter referred to as ―Weifu
ITM‖), Wuxi Weifu Schmitter Power System Parts and Components Co., Ltd. (hereinafter referred to as ―Weifu
Schmitter‖), Chaoyang Weifu Jialin Machinery Manufactures Co., Ltd. (hereinafter referred to as ―Weifu Jialin‖),
Kunming Xitong Machinery Co., Ltd. (hereinafter referred to as ―Kunming Xitong‖) and Anhui Weifu Tianshi
Machinery Co., Ltd. (hereinafter referred to as ―Weifu Tianshi‖) is 25%.
2. Tax preference and approvals
No. Enterprise Certification Serial of Issuring or (receiving) dated Expiration
Hi-Tech Enterprise
1 Parent company GF201132000279 2011-9-9 3-year
2 Nanjing Jinning GF201132000048 2011-9-9 3-year
3 Weifu Diesel System GF201132000112 2011-9-9 3-year
4 Weifu Leader GF201132000006 2011-9-9 3-year
5 Weifu Tianli GF201133100022 2011-9-6 3-year
6 Weifu Autocam GR201132001080 2011-11-8 3-year
3. Other explanation
Nil
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
VI. Enterprise consolidation and consolidated financial statements
1. Subsidiary
(1) Subsidiaries acquired by means of establishment or investment
In RMB
The balance after the
parent company’s
Amount in owner’s equity writing
Statemen minority down the excess of the
Balance of
Holdin interest current loss
other items
Registrat Busine Investment g Voting right ts Minority used for undertaken by
Registered Business materially
Name Type ion ss amount actual at propor proportion interest writing minority shareholders
capital scope forming net
place nature period-end tion (%) combine down of the subsidiary over
investment
(%) minority the share enjoyed by
to subsidiary
gain and minority shareholders
d or not
loss in the original owner’s
equity of the
subsidiary
Wuxi Manuf Accessories Yes
acturin and
Wholly-own g matching
Weifu Mashan ed 45,000,049.36 parts of 4,893,380.51 100% 100%
subsidiary internal
combustion
engine
Wuxi Manuf Accessories Yes
acturin and
Wholly-own g matching
Weifu Chang’an ed 60,000,000.00 parts of 70,902,037.30 100% 100%
subsidiary internal
combustion
engine
Wuxi Manuf Yes
Controlling Nano
Weifu Nano acturin 30,000,000.00 24,000,000.00 80% 80% 5,803,640.43
subsidiary material
g
Wuxi Manuf Accessories Yes
acturin and
Wholly-own g matching
Weifu Diesel
ed 300,000,000.00 parts of 260,187,500.00 100% 100%
System
subsidiary internal
combustion
engine
74
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Wuxi Manuf Accessories Yes
acturin and
g matching
Controlling
Weifu Schmitter 18,000,000.00 parts of 8,100,000.00 45% 45% 1,800,598.41
subsidiary
internal
combustion
engine
Manuf Accessories Yes
acturin and
g matching
Controlling Quanjia
Weifu Tianshi 10,000,000.00 parts of 5,200,000.00 52% 52% 2,732,663.24
subsidiary o
internal
combustion
engine
Other explanation on subsidiary obtained by establishment or investment:
(2) Subsidiaries acquired by business combination under the common control
In RMB
Balance between the
owners’ equity in
Balance of parent offsetting the
Amount in
other items current losses
Consol minority
which attributable to
Actual Holdin idated interest
Regist Busine actually minority shareholders
Name of Registered Business investment g Voting statem Minority available
Type of subsidiary ered ss constitutes of subsidiaries over
subsidiary capital scope amount at propor proportion% ent interests to offset
place nature net the share of beginning
period-end tion% Yes/N minority
investment owner’s equity in such
o gains and
in subsidiaries by the
losses
subsidiaries minority shareholders
Accessorie Yes
s and
Manuf matching
Weifu Controlling Nanjin
acturin 346,286,825.80 parts of 178,639,593.52 80% 80% 140,399,053.94
Jinning subsidiary g
g internal
combustio
n engine
Manuf Yes
Weifu Controlling Cleaner, 94.81
Wuxi acturin 502,596,300.00 460,113,855.00 94.81% 45,994,632.31
Leader subsidiary muffler %
g
75
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Weifu Yes
Controlling Tradin Internation
International Wuxi 30,000,000.00 32,636,288.98 100% 100%
subsidiary g al trade
Trade
Other explanation on subsidiary obtained by enterprise merger under same control:
(3) Subsidiaries acquired by business combination not under the common control
In RMB
Balance between the
Balance of owners’ equity in parent
Amount in
other items offsetting the current losses
Consol minority
which attributable to minority
Actual Holdin idated interest
Busine actually Voting shareholders of subsidiaries
Name of Type of Register Registered Business investment g statem Minority available
ss constitutes proportio over the share of beginning
subsidiary subsidiary ed place capital scope amount at propor ent interests to offset
nature net n% owner’s equity in such
period-end tion% Yes/N minority
investment subsidiaries by the minority
o gains and
in shareholders
losses
subsidiaries
Manufa Accessorie Yes
cturing s and
matching
Wholly-owne
Weifu ITM Wuxi 160,000,000.00 parts of 167,000,000.00 100% 100%
d subsidiary
internal
combustio
n engine
Manufa Accessorie Yes
cturing s and
matching
Controlling
Weifu Tianli Ningbo 104,690,000.00 parts of 90,229,100.00 51% 51% 96,955,047.98
subsidiary
internal
combustio
n engine
Manufa Accessorie Yes
cturing s and
matching
Controlling Chaoya
Weifu Jialin 8,000,000.00 parts of 4,685,868.73 51% 51% 5,005,197.88
subsidiary ng
internal
combustio
n engine
76
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Manufa Accessorie Yes
cturing s and
matching
Kunming Controlling Kunmin
4,000,000.00 parts of 5,471,793.17 70% 70% 2,466,506.64
Xitong subsidiary g
internal
combustio
n engine
Manufa Accessorie Yes
cturing s and
matching
Weifu Wholly-owne
Wuxi 75,713,521.48 parts of 39,243,774.00 51% 51% 75,135,808.72
Autocam d subsidiary
internal
combustio
n engine
Other explanation on subsidiary obtained by enterprise merger not under the same control:
Weifu Autocam: is the original joint venture of the Company, after 1 percent equity of Weifu Autocam held by American Autocam Company was transfer in the
reporting period, Weifu Autocam comes to the controlling subsidiary of the Company with 51% equity held by the Company. Relevant industrial and commercial
changes has completed on 17 May 2013 and included in consoldiation statement range since June 2013.
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
2. Special purposes entity or operation entity where controlling right is formed under entrusted
operation or leasing
Other explanation for special purposes entity or operation entity where controlling right is formed under entrusted operation or
leasing:
3. Nil
3. Explanation on changes of consolidation range
Explanation on changes of consolidation range
Name of the company Whether consolidated in reproting period or not Whether consolidated in last year or nor
Weifu Mashan Yes Yes
Weifu Chang’an Yes Yes
Weifu Nano Yes Yes
Weifu Diesel System Yes Yes
Weifu Jinning Yes Yes
Weifu Leader Yes Yes
Weifu International Trade Yes Yes
Weifu Schmidt Yes Yes
Weifu ITM Yes Yes
Weifu Tianli Yes Yes
Weifu Jialin Yes Yes
Weifu Tianshi Yes Yes
Kunming Xitong Yes Yes
Weifu Autocam Yes No
√Applicable □ Not applicable
One company increased compare with last year’s (period’s) :
Weifu Autocam is the joint venture of the Company, after 1 percent equity of Weifu Autocam held by American
Autocam Company was transfer in the reporting period, Weifu Autocam comes to the controlling subsidiary of
the Company with 51% equity held by the Company. Relevant industrial and commercial changes has completed
on 17 May 2013 and included in consoldiation statement range since June 2013.
One company decreased compare with last year’s (period’s) :
Nil
4. Entities newly included in consolidate scope during the reporting period and entities ceasing to be
included in consolidate scope during the reporting period
Subsidiaries, special purposes entities, operation entity where controlling right is formed under entrusted operation or leasing newly
included in consolidation scope during the period
In RMB
Name Net assets as at period-end Net profit for the period
Weifu Autocam 153,338,385.14 4,980,668.60
Subsidiaries, special purposes entities, operation entity where controlling right is formed under entrusted operation or leasing ceasing
to be included in consolidation scope during the period
Nil
5. Business combination under the common control during the reporting period
Other explanation for business combination under the common control:
Nil
6. Business combination not under the common control during the reporting period
Other explanation for business combination not under the common control:
78
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Nil
7. Loss of subsidiaries due to disposal of equity interests without controlling rights during the
reporting period
Other explanation for loss of subsidiaries due to disposal of equity interests without controlling rights
Nil
8. Counter purchase occurred during the reporting period
Other explanation for counter purchase:
Nil
9. Absorption consolidation occurred during the reporting period
Other explanation for absorption consolidation:
Nil
10. Translation exchange rates for items in major statements of overseas operating entities
VII. Notes to major items in consolidated financial statements
1. Monetary fund
In RMB
Amount at period-end Amount at period-begin
Item Amount in Converting Amount in Converting
Amount in RMB Amount in RMB
foreign currency rate foreign currency rate
Cash: -- -- 757,186.34 -- -- 481,336.46
RMB -- -- 757,186.34 -- -- 481,336.46
Bank savings: -- -- 2,168,160,148.01 -- -- 2,432,322,361.62
RMB -- -- 2,159,026,232.67 -- -- 2,432,271,102.98
EUR 0.48 8.0536 3.87 2,427.47 8.3176 20,190.73
USD 1,478,290.17 6.1787 9,133,911.47 4,942.79 6.2855 31,067.91
Other monetary fund: -- -- 161,227,296.23 -- -- 167,910,521.28
RMB -- -- 161,227,296.23 -- -- 167,910,521.28
Total -- -- 2,330,144,630.58 -- -- 2,600,714,219.36
Separate explanation is required for accounts with restricted application purposes, deposited overseas and of potential recovery risks
arising from pledge, mortgage or frozen:
Item 2013-06-30 2012-12-31
Bank acceptance bill, L/C and other collateral 161,227,296.23 167,910,521.28
2. Transactional financial assets
(1) Transactional financial assets
(2) Realization of restricted transactional financial assets
(3) Explanation for hedge instruments and related hedge transactions
3. Notes receivables
(1) Classification of notes receivables In RMB
Types Amount at period-end Amount at period-begin
Bank acceptance bill 1,114,619,430.12 855,360,248.22
Commercial acceptance bill 56,660,000.00 43,360,000.00
Total 1,171,279,430.12 898,720,248.22
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
(2) Notes receivable already pledged by the Company at the end of the period
In RMB
Issuer Issue date Expiring date Amount Notes
Weichai Power Co., Ltd 2013-10-31 59,984,497.60 Total of multiple notes
Anhui Jianghuai Automobile Co.,
2013-10-31 10,800,000.00 Total of multiple notes
Ltd.
FAW Jiefang Qingdao Automobile
2013-06-30 10,000,000.00 Total of single note
Co., Ltd.
Qingdao Zhongren Pharmaceutical
2013-08-31 8,000,000.00 Total of single note
Co., Ltd.
NAVECO 2013-08-31 6,000,000.00 Total of single note
Total -- -- 94,784,497.60 --
(3)Transfer of notes to notes receivable due to the issuer’s impossibility to perform its obligations, and
un-matured notes endorsed to others by the Company as at the period-end
Notes transfer to account receivable due to weak performance of drawer
Nil
Un-matured notes endorsed to others by the Company
In RMB
Issuer Issue date Expiring date Amount Notes
Dongfeng Chaoyang Chaochai Power Co., Ltd. 2013-11-30 25,100,000.00 Total of multiple notes
Zhejiang Yuanjing Auto Parts Co., Ltd. 2013-11-30 22,204,495.33 Total of multiple notes
Shijiazhuang Hengxin Pump Nozzle Co., Ld. 2013-12-31 15,950,000.00 Total of multiple notes
Changchai Co., Ltd. 2013-11-30 13,430,000.00 Total of multiple notes
Weichai Xigang New Energy Power Co., Ltd. 2013-11-30 13,000,000.00 Total of multiple notes
Total -- -- 89,684,495.33 --
Explanation:
Explanation for commercial acceptance notes discounted or pledged:
Among the note receivable in period-end, RMB 112,284,500 bank acceptance bill was pledged for issuing of note payable
4. Dividend receivables
In RMB
Decrease Depreciation for
Amount at Increase in Amount at Reasons of
Item in this relevant account or
period-begin this period period-end unrevoked
period not
Dividend receivables aging
107,616,777.91 107,616,777.91 No
within 1 year
Including: -- -- -- -- -- --
Bosch Automobile Diesel
107,616,777.91 107,616,777.91 No
System
Including: -- -- -- -- -- --
Total 107,616,777.91 107,616,777.91 -- --
5. Interests receivables
(1) Interests receivables
In RMB
Item Amount at period-begin Increase in this period Decrease in this period Amount at period-end
Interest of bank savings 37,619,858.83 12,714,183.83 24,905,675.00
Total 37,619,858.83 12,714,183.83 24,905,675.00
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
(2)Overdue interests
(3)Explanation for interests’ receivables
6. Account receivables
(1) Classified by categories
In RMB
Amount at period-end Amount at period-begin
Book balance Bad debt reserve Book balance Bad debt reserve
Categories Proport
Proportio Proport Proportion
Amount Amount ion Amount Amount
n (%) ion (%) (%)
(%)
Account receivable
with single
significant amount
6,919,976.11 0.47% 6,919,976.11 100% 6,919,976.11 0.65% 6,919,976.11 100%
and withdrawal bad
debt provision
separately
Account receivable of bad debt provision withdrawal by combination
Withdrawal bad debt
provision by age 1,444,850,330.29 98.94% 7,431,200.48 0.51% 1,043,935,964.74 98.55% 7,543,263.34 0.72%
group
Subtotal of group 1,444,850,330.29 98.94% 7,431,200.48 0.51% 1,043,935,964.74 98.55% 7,543,263.34 0.72%
Accounts with
single significant
amount and bad 8,549,123.91 0.59% 8,549,123.91 100% 8,449,350.69 0.8% 8,449,350.69 100%
debts provision
accrued individually
Total 1,460,319,430.31 -- 22,900,300.50 -- 1,059,305,291.54 -- 22,912,590.14 --
Explanation for category of account receivables:
Account receivable with single significant amount and withdrawal bad debt provision separately at period-end
√ Applicable □ Not applicable
In RMB
Accrual
Account receivable Book balance Bad debt reserve Reasons
proportion (%)
Liuzhou Special Diesel Plant 1,612,018.00 1,612,018.00 100% The account was too old to collect
Shaoyang Shenfeng Power Old account, uncollectible after
1,589,871.23 1,589,871.23 100%
Manufacture Co., ltd lawsuit
Changchai Wanzhou Diesel Co.,
1,500,000.00 1,500,000.00 100% The account was too old to collect
ltd
Yuejin Light-Vehicle Co., Ltd. 1,218,086.88 1,218,086.88 100% The account was too old to collect
Henan Agricultural Machinery Old account, uncollectible after
1,000,000.00 1,000,000.00 100%
Company lawsuit
Total 6,919,976.11 6,919,976.11 -- --
Account receivable provided for bad debt reserve under aging analysis method in the groups:
√ Applicable □ Non-applicable
In RMB
Amount at period-end Amount at period-begin
Book balance Book balance
Age
Proportion Bad debt reserve Proportion Bad debt reserve
Amount Amount
(%) (%)
81
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
within 1 year
Including: -- -- -- -- -- --
Within 6 months 1,417,088,566.51 98.08% 1,013,297,599.82 97.07%
6 months to 1 year 15,937,848.20 1.1% 1,593,784.83 14,021,801.93 1.34% 1,402,180.20
Subtotal of within
1,433,026,414.71 99.18% 1,593,784.83 1,027,319,401.75 98.41% 1,402,180.20
1 year
1-2 years 5,421,351.69 0.38% 1,084,270.34 12,213,147.26 1.17% 2,442,629.46
2-3 years 2,749,030.96 0.19% 1,099,612.38 1,174,936.75 0.11% 469,974.70
Over 3 years 3,653,532.93 0.25% 3,653,532.93 3,228,478.98 0.31% 3,228,478.98
Total 1,444,850,330.29 -- 7,431,200.48 1,043,935,964.74 -- 7,543,263.34
Account receivables provided for bad debt reserve under balance percentage method in the groups:
□applicable √not-applicable
Account receivables provided for bad debt reserve under other method in the groups:
□applicable √not-applicable
Accounts with single significant amount and bad debts provision accrued individually at period-end
√ Applicable □ Non-applicable
In RMB
Accrual
Book Bad debt
Account receivables proportion Reasons
balance reserve
(%)
Changchai Wanzhou Diesel Co., ltd 837,472.95 837,472.95 100% The account was too old to collect
Hubei Duoling Power Machinery Co., Ltd 775,624.61 775,624.61 100% The account was too old to collect
Henan Xinxiang Internal Combustion Engine
753,754.25 753,754.25 100% The account was too old to collect
Plan
Yunnan Jinma Diesel General Plan 579,210.11 579,210.11 100% The account was too old to collect
Dongfeng Nanchong Automobile Co., Ltd 569,974.38 569,974.38 100% The account was too old to collect
Guangxi Liuzhou Zhongxin Engine Co., Ltd 474,895.94 474,895.94 100% The account was too old to collect
Zhejiang Agriculture Machinery Accessory Co.,
457,800.00 457,800.00 100% The account was too old to collect
Ltd
Jiangmen Zhongyu Material Supplying Co., Ltd 411,734.00 411,734.00 100% The account was too old to collect
Weichai Power Co., Ltd 449,858.70 449,858.70 100% The account was too old to collect
Changchai Group Jintan Diesel General Plant 375,035.52 375,035.52 100% The account was too old to collect
Fujian Longma Agriculture-Vehicle Manufacture
365,169.92 365,169.92 100% The account was too old to collect
Co., Ltd
Kunming Zhongantong Jimao Co., Ltd 328,425.01 328,425.01 100% The account was too old to collect
Beijing Pingyang Road Communication
308,588.58 308,588.58 100% The account was too old to collect
Equipment Co., Ltd
Other clients 1,861,579.94 1,861,579.94 100% The account was too old to collect
Total 8,549,123.91 8,549,123.91 -- --
(2) Reversal or recovery of account receivables during the reporting period
(3) Account receivables actually written-off during the reporting period
(4) Account receivables due from the shareholders holding 5% or above voting shares of the Company
during the reporting period
In RMB
Amount at period-end Amount at period-begin
Name of the company Bad debt amount Bad debt amount
Book balance Book balance
accrual accrual
82
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Robert Bosch 6,796,785.04
Total 6,796,785.04
(5) Top 5 account receivable
In RMB
Relationship with the Proportion in total
Name of the company Amount Terms
Company account receivables (%)
Client 1 Client 142,377,254.99 within 1 year 9.75%
Client 2 Client 132,874,277.35 within 1 year 9.1%
Client 3 Client 118,269,164.58 within 1 year 8.1%
Client 4 Client 115,628,567.84 within 1 year 7.92%
Client 5 Client 108,351,163.97 within 1 year 7.42%
Total -- 617,500,428.73 -- 42.29%
(6) Account receivables due from related parties
In RMB
Relationship with Proportion in total account
Name of the company Amount
the Company receivables (%)
Bosch Automobile Diesel System Co.,
Associated company 118,269,164.58 8.1%
Ltd
Wuxi Weifu Instrument Making Co., Ltd. Associated company 12,551.28 0%
Total -- 118,281,715.86 8.1%
(7) Account receivables derecognized
(8) As for securities with account receivables as target subject, list the assets and liabilities arising from
further involvement
7. Other receivables
(1) Disclosure of other receivables by classification
In RMB
Amount at period-end Amount at period-begin
Book balance Bad debt reserve Book balance Bad debt reserve
Categories
Proportio Proportio Proportio Proportio
Amount Amount Amount Amount
n (%) n (%) n (%) n (%)
Other receivable with
single significant
amount and 2,000,000.00 9.42% 2,000,000.00 100% 2,000,000.00 13.57% 2,000,000.00 100%
withdrawal bad debt
provision separately
Other receivable of bad debt provision withdrawal by combination
Withdrawal bad debt
provision by age 16,831,919.44 79.28% 149,341.85 0.89% 10,342,752.74 70.15% 195,121.22 1.89%
group
Subtotal of group 16,831,919.44 79.28% 149,341.85 0.89% 10,342,752.74 70.15% 195,121.22 1.89%
Other receivable with
single minor amount 2,400,000.00 11.3% 2,400,000.00 100% 2,400,000.00 16.28% 2,400,000.00 100%
while withdrawal bad
83
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
debt provision
separately
Total 21,231,919.44 -- 4,549,341.85 -- 14,742,752.74 -- 4,595,121.22 --
Explanation for category of other receivables:
Other receivable with single significant amount and withdrawal bad debt provision separately at period-end
√ Applicable □ Non-applicable
In RMB
Other receivables Book balance Bad debt amount Accrual proportion (%) Reasons
Jiangsu Techniques and The account was too old
2,000,000.00 2,000,000.00 100%
Technology Center to collect
Total 2,000,000.00 2,000,000.00 -- --
Other receivable provided for bad debt reserve under aging analysis method in the groups:
√ Applicable □ Non-applicable
In RMB
Amount at period-end Amount at period-begin
Book balance Book balance
Age
Proporti Bad debt reserve Proporti Bad debt reserve
Amount Amount
on (%) on (%)
within 1 year
Including:
Within 6 months 16,071,936.58 95.48% 9,504,648.34 91.9%
6 months to 1 year 407,030.31 2.42% 19,750.64 428,887.90 4.15% 42,888.80
Subtotal of within 1 year 16,478,966.89 97.9% 19,750.64 9,933,536.24 96.05% 42,888.80
1-2 years 207,229.56 1.23% 41,445.89 219,151.51 2.12% 43,830.30
2-3 years 95,962.79 0.57% 38,385.12 136,104.79 1.31% 54,441.92
Over 3 years 49,760.20 0.3% 49,760.20 53,960.20 0.52% 53,960.20
Total 16,831,919.44 -- 149,341.85 10,342,752.74 -- 195,121.22
Other receivables provided for bad debt reserve under balance percentage method in the groups:
□applicable √not-applicable
Other receivables provided for bad debt reserve under other method in the groups:
□applicable √not-applicable
Other receivable with single minor amount while withdrawal bad debt provision separately at period-end
√ Applicable □ Non-applicable
In RMB
Other receivables Book balance Bad debt reserve Accrual proportion (%) Reasons
The account was too old
Nanjing University 600,000.00 600,000.00 100%
to collect
The account was too old
Southeast University 600,000.00 600,000.00 100%
to collect
Nanjing University of The account was too old
600,000.00 600,000.00 100%
Science and Technology to collect
Nanjing University of The account was too old
600,000.00 600,000.00 100%
Technology to collect
Total 2,400,000.00 2,400,000.00 -- --
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
(2) Reversal or recovery of other receivables during the reporting period
(3) Other receivables actually written-off during the reporting period
(4) Other receivables due from the shareholders holding 5% or above voting shares of the Company during
the reporting period
(5) Nature or content of other receivables with significant amount
(6) Top 5 other receivable
In RMB
Relationship with the Proportion in total other
Name of the company Amount Terms
Company account receivables (%)
Ningbo Jiangbei High-Tech Industry Park
Non-related party 3,583,720.00 within 1 year 16.88%
Development Construction Co., Ltd.
Jiangsu Techniques and Technology Center Non-related party 2,000,000.00 Over 3 years 9.42%
Nanjing University Non-related party 600,000.00 Over 3 years 2.83%
Southeast University Non-related party 600,000.00 Over 3 years 2.83%
Nanjing University of Science and Technology Non-related party 600,000.00 Over 3 years 2.83%
Nanjing University of Technology Non-related party 600,000.00 Over 3 years 2.83%
Total -- 7,983,720.00 -- 37.62%
(7) Other receivables due from related parties
(8) Other receivables derecognized
(9) As for securities with other receivables as target subject, list the assets and liabilities arising from
further involvement
8. Payment in advance
(1) Analysis of payments in advance by aging
In RMB
Amount at period-end Amount at period-begin
Age Proportion Proportion
Amount Amount
(%) (%)
within 1 year 159,013,805.02 88.46% 115,255,800.11 80.32%
1-2 years 14,141,546.28 7.87% 25,033,154.09 17.44%
2-3 years 5,577,140.33 3.1% 2,222,191.42 1.55%
Over 3 years 1,018,381.77 0.57% 988,855.53 0.69%
Total 179,750,873.40 -- 143,500,001.15 --
Explanation for aging analysis of payments in advance:
(2) Top 5 of payments in advance
In RMB
Relationship with
Name of the company Amount Time Reason for unsettlement
the Company
China Construction Fifth Non-related party 35,335,017.22 within 1 Account paid in advance for the
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Engineering Division Corp., Ltd. year projects, the project uncompleted
Account paid in advance for the
Jiangsu Zheng Fang Yuan Group Non-related party 14,240,000.00 1-2 years
projects, the project uncompleted
within 1 Account of equipment paid in
Ningbo International TenderCo., ltd. Non-related party 10,851,169.95
year advance without delivery
Nanjing Chongjing Decoration Account paid in advance for the
Non-related party 7,427,600.00 1-3 years
Engineering Co., Ltd. projects, the project uncompleted
Nantong Construction Group Account paid in advance for the
Non-related party 5,802,362.00 1-2 years
Join-Stock Co., Ltd. projects, the project uncompleted
Total -- 73,656,149.17 -- --
Explanation for major units paid in advance:
(3) Shareholders holding 5% or above voting shares of the Company in payments in advance during the
reporting period
In RMB
Amount at period-end Amount at period-begin
Name of the company
Book balance Bad debt amount accrual Book balance Bad debt amount accrual
Wuxi Industry Group 15,155,700.00
Total 15,155,700.00
(4) Explanation for payment in advance
Transfer of trademark paid in advance, ownership of the trademark still in process
9. Inventory
(1) Classification In RMB
Amount at period-end Amount at period-begin
Item Depreciation Depreciation
Book balance Carrying amount Book balance Carrying amount
provision provision
Raw materials 228,888,305.41 42,136,605.40 186,751,700.01 203,211,848.70 42,999,026.35 160,368,472.68
Product in process 136,504,938.44 3,702,985.07 132,801,953.37 144,838,941.60 3,702,985.07 141,135,956.53
Stock products 523,772,818.95 59,426,208.76 464,346,610.19 517,654,963.46 59,498,655.24 458,000,657.89
Total 889,166,062.80 105,265,799.23 783,900,263.57 865,705,753.76 106,200,666.66 759,505,087.10
(2) Inventory impairment provision In RMB
Book-balance as at Provision for this Decrease in this period Book-balance as at
Category
period-begin period Reversal Written-off period-end
Raw materials 42,999,026.35 706,770.62 42,136,605.40
Product in process 3,702,985.07 3,702,985.07
Stock products 59,498,655.24 45,767.89 182,328.92 59,426,208.76
Total 106,200,666.66 45,767.89 889,099.54 105,265,799.23
(3) Particular about inventory impairment provision
Proportion of the reversal
Reason for reversal amount during the year in the
Item Provision basis
during the year period-end balance of the
inventory (%)
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Compared cost of inventory at period-end with its net Written-off mainly
Raw materials 0.31%
realizable value by single item comparison method due to sales outside
and withdrew provision for price drop according to Written-off mainly
the balance between the net realizable value and cost. due to sales outside
Stock products As the country improved standard for vehicle exhaust Reversal mainly due 0.04%
emission, the Company had correspondingly
to the re-used for the
withdrawn provision for devaluation for products and stock
relevant raw materials failing to meet new standard.
Product in process
Explanation on inventory
10. Other current assets In RMB
Item Amount at period-end Amount at period-begin
Entrust financing products 1,022,750,000.00 490,000,000.00
Receivable export tax rebates 11,473,474.28 9,913,435.88
Other 157,995.00 204,807.93
Total 1,034,381,469.28 500,118,243.81
Explanation on other current assets
11. Financial assets available for sale
(1) Particular about financial assets available for sale
In RMB
Item Fair value as at period-end Fair value as at period-begin
Equity instrument available for sale 412,420,600.00 265,689,600.00
Total 412,420,600.00 265,689,600.00
For financial assets available for sale that re-category from investment held to maturity, re-category amounting as 0 Yuan, and takes
0% of the investment held to maturity before re-category.
Explanation on financial assets available for sale
Item Fair value as at period-end Fair value as at period-begin
Stock- SDEC 328,441,600.00 265,689,600.00
Stock- Miracle Logistics 83,979,000.00
Total 412,420,600.00 265,689,600.00
(2) Long-term debt investment in financial assets available for sales
12. Held-to-maturity investment
(1) Particular about held-to-maturity investment In RMB
Item Book balance at period-end Book balance at period-begin
Entrust financing products 848,000,000.00 649,000,000.00
Total 848,000,000.00 649,000,000.00
Explanation on held-to-maturity investment
(2) Held-to-maturity investment that sold in report period but not expired
13. Long-term account receivable
14. Investment for affiliated enterprise and joint ventures In RMB
Equity Proportion
proportion of voting
Total operation
Invested held by rights in Total assets at Total liability at Total net assets at Net profit in
revenue in this
company the invested period-end period-end period-end this period
period
Company company
(%) (%)
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
I. Joint venture
Wuxi Weifu
Environment
Protection 49% 49% 828,147,298.03 301,586,944.48 526,560,353.55 564,626,956.55 48,462,916.00
Catalyst Co.,
Ltd.
II. Associated company
Bosch
Automobile 34% 34% 5,408,805,127.76 1,704,226,150.16 3,704,578,977.60 2,457,986,031.25 423,041,404.11
Diesel System
CNEMS 20% 20% 2,334,127,177.50 564,293,715.14 1,769,833,462.36 3,754,631.66 448,304,570.00
Wuxi Weifu
Instrument
20% 20% 295,371,904.64 97,662,773.57 197,709,131.07 132,858,602.37 25,053,512.24
Making Co.,
Ltd.
Explanation on major accounting policy and accounting estimation in joint venture and affiliated enterprises difference from the
policy and estimation of the Company:
Weifu Autocam is the original joint venture of the Company, after 1 percent equity of Weifu Autocam held by American Autocam
Company was transfer in the reporting period, Weifu Autocam comes to the controlling subsidiary of the Company with 51% equity
held by the Company. Relevant industrial and commercial changes has completed on 17 May 2013 and included in consoldiation
statement range since June 2013.
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
15. Long-term equity investment
(1) Details of long-term equity investment
In RMB
Explanation
on the
Proporti
Proportion incongruity
on of Impairmen
of share in share
Calculati voting t provision
Balance at Increase/decreas Balance at holding in holding Impairment Cash bonus
Invested company on Investment cost rights in of
period-begin e(+,-) period-end invested proportion provision this period
method invested accruing
company and voting
compan this year
(%) proportion
y (%)
in invested
company
Wuxi Weifu Autocam
Equity 39,243,774.00 66,604,790.02 -66,604,790.02
Fine Machinery Co. Ltd.
Wuxi Weifu Environment
Protection Catalyst Equity 24,500,000.00 234,267,744.40 22,559,487.40 256,827,231.80 49% 49%
Co.,Ltd.
Bosch Automobile Diesel
Equity 893,372,014.77 1,379,158,919.55 144,020,510.60 1,523,179,430.15 34% 34%
System
CNEMS Equity 120,124,000.00 375,291,329.83 89,664,088.66 464,955,418.49 20% 20%
Wuxi Weifu Instrument
Equity 2,000,000.00 34,012,456.06 4,993,902.45 39,006,358.51 20% 20%
Making Co., Ltd.
Guolian Securities Co.,
Cost 12,000,000.00 12,000,000.00 12,000,000.00 1.2% 1.2% 360,000.00
Ltd.
Guangxi Liufa Co., Ltd. Cost 1,600,000.00 1,600,000.00 1,600,000.00 1.22% 1.22% 1,600,000.00
Financial Company of
Changchai Group Co., Cost 800,000.00 800,000.00 800,000.00 800,000.00
Ltd.
H&J Vanguard Investment
Cost 33,000,000.00 33,000,000.00 33,000,000.00 11.72% 11.72% 33,000,000.00
Co., Ltd.
Nanjing Hengtai
Insurance and Broker Co., Cost 1,000,000.00 1,000,000.00 1,000,000.00 1.85% 1.85% 1,000,000.00
Ltd.
Yangdong Co., Ltd. Cost 2,355,900.00 2,355,900.00 2,355,900.00 1.18% 1.18% 2,355,900.00
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Henan Gushi Weining Oil
Cost 2,033,106.95 2,033,106.95 2,033,106.95 2,033,106.95
Pump & Nozzle Co., Ltd.
Beijing Foton
Environmental Engine Cost 86,940,000.00 86,940,000.00 86,940,000.00 1.43% 1.43% 11,000,000.00
Co., Ltd.
Wuxi Xidong
Technological Industry Cost 5,000,000.00 5,000,000.00 5,000,000.00 18.52% 18.52%
Park Co., Ltd.
Shanghai IMS
Automotive Electronic Cost 10,000,000.00 10,000,000.00 10,000,000.00
System Co., Ltd.
Total -- 1,233,968,795.72 2,244,064,246.81 194,633,199.09 2,438,697,445.90 -- -- -- 51,789,006.95 360,000.00
(2) Limited ability for capital transfer to investment enterprise
Explanation on long-term equity investment:
Weifu Autocam is the original joint venture of the Company, after 1 percent equity of Weifu Autocam held by American Autocam Company was transfer in the
reporting period, Weifu Autocam comes to the controlling subsidiary of the Company with 51% equity held by the Company. Relevant industrial and commercial
changes has completed on 17 May 2013 and included in consoldiation statement range since June 2013.
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16. Investment real estate
(1) Investment real estate measured by cost
In RMB
Book balance at Increase in this Decrease in this Book balance at
Item
period-begin period period period-end
I. Total original book value 24,091,482.75 24,091,482.75
1. Houses and buildings 24,091,482.75 24,091,482.75
II. Accumulated depreciation and
20,210,136.45 229,118.28 20,439,254.73
accumulated amortization
1. Houses and buildings 20,210,136.45 229,118.28 20,439,254.73
III. Total net book value of investment
3,881,346.30 -229,118.28 3,652,228.02
real estate
1. Houses and buildings 3,881,346.30 -229,118.28 3,652,228.02
V. Total book value of investment real
3,881,346.30 -229,118.28 3,652,228.02
estate
1. Houses and buildings 3,881,346.30 3,652,228.02
(2) Investment real estate measured by fair value
Explain the investment real estate that changing measurement mold in report period, and the investment real estate without property
certificate done as well as the reasons for property certificate un-finished and predicted the time to obtained that certificates
17. Fixed assets
(1) Particular about fixed assets
In RMB
Book balance at Decrease in this Book balance at
Item Increase in this period
period-begin period period-end
I. total of book balance: 2,623,391,562.99 194,563,964.83 17,284,041.15 2,800,671,486.67
Including: House &
754,436,264.43 250,640.00 754,185,624.43
buildings
Machinery
1,589,205,727.01 164,075,454.75 14,062,794.25 1,739,218,387.51
equipment
Transportation tools 22,888,669.05 3,944,097.86 1,770,301.30 25,062,465.61
Other equipment 256,860,902.50 26,544,412.22 1,200,305.60 282,205,009.12
Book balance at Increase during Accrual in this Decrease in this Balance at
--
period-begin this period period period period-end
II. total of accumulated
1,115,928,394.29 44,711,077.46 84,617,123.69 10,395,705.57 1,234,860,889.87
depreciation:
Including: House &
194,260,954.92 0.00 11,494,990.58 205,755,945.50
buildings
Machinery
772,960,847.70 39,984,551.04 63,018,040.24 8,326,303.97 867,637,135.01
equipment
Transportation tools 14,060,526.20 436,453.78 1,438,230.44 1,028,476.82 14,906,733.60
Other equipment 134,646,065.47 4,290,072.64 8,665,862.43 1,040,924.78 146,561,075.76
Book balance at Balance at
-- --
period-begin period-end
III. total net value of fixed
1,507,463,168.70 -- 1,565,810,596.80
assets
Including: House &
560,175,309.51 -- 548,429,678.93
buildings
Machinery
816,244,879.31 -- 871,581,252.50
equipment
Transportation tools 8,828,142.85 -- 10,155,732.01
Other equipment 122,214,837.03 -- 135,643,933.36
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
IV. total impairment
102,656,934.52 -- 102,394,582.14
provision
Machinery
94,235,450.08 -- 93,973,097.70
equipment
Transportation tools 134,401.36 -- 134,401.36
Other equipment 8,287,083.08 -- 8,287,083.08
V. total book value of fixed
1,404,806,234.18 -- 1,463,416,014.66
assets
Including: House &
560,175,309.51 -- 548,429,678.93
buildings
Machinery
722,009,429.23 -- 777,608,154.80
equipment
Transportation tools 8,693,741.49 -- 10,021,330.65
Other equipment 113,927,753.95 -- 127,356,850.28
Depreciation in this period amounting to 84,617,123.69 Yuan; original price transfer from construction in progress to fixed assets
amounting as 79,063,192.52 Yuan
(2) Temporary idle fixed assets
(3) Fixed assets leasing-in by financing lease
(4) Fixed assets leasing-out by operational lease
(5) Fixed assets held for sale in period-end
(6) Fixed assets with un-completed property certificates
Times expected for
Item Reasons for un-completed certificate
certificate completed
Plant and office building of Weifu Chang’an Still in process of relevant property procedures
Newly built plant, in process of relevant property
Plant and office building of Weifu Jinning
procedures
Explanation on fixed assets:
Accumulated depreciation value of RMB 44,541,320.14 from Weifu Autocam at the beginning of merger period
was included.
Original fixed assets value in the period including RMB105,753,479.25 original fixed assets value from Weifu
Autocam at begining of the merger.
18. Construction in process
(1) Construction in process
In RMB
Amount at period-end Amount at period-begin
Item Provision Carrying Provision
Book balance Book balance Carrying amount
reserve amount reserve
R&D of WAPS, industrialization,
productivity expansion of diesel 701,037.58 701,037.58 705,837.58 705,837.58
common rail system parts
Construction project in industrial
6,429,646.66 6,429,646.66 4,352,455.56 4,352,455.56
zone
Industrialization of tail treatment
16,364,168.45 16,364,168.45 13,265,410.92 13,265,410.92
system
Research institution project 35,345.48 35,345.48 35,345.48 35,345.48
Other projects 51,925,856.43 2,522,110.89 49,403,745.54 51,759,620.61 4,469,121.67 47,290,498.94
Total 75,456,054.60 2,522,110.89 72,933,943.71 70,118,670.15 4,469,121.67 65,649,548.48
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
(2) Changes of major projects under construction
In RMB
Accumulate including: Interest
Proportion of
Other d amount of interest capitalizat
Amount at Increase in Transfer to project Capital Amount at
Item Budget decrea Progress interest capitalized ion rate of
period-begin this period fixed assets investment in source period-end
se capitalizatioamount of the the year
budget (%)
n year (%)
Construction project in
650,000,000.00 4,352,455.56 2,077,191.10 4% 4% Fund-raised 6,429,646.66
industrial zone
Research institution
70,000,000.00 35,345.48 477,777.71 477,777.71 100.5% 100.5% Fund-raised 35,345.48
project
R&D of WAPS,
industrialization,
productivity expansion 650,000,000.00 705,837.58 7,962,779.71 7,967,579.71 43.8% 43.8% Fund-raised 701,037.58
of diesel common rail
system parts
Industrialization of tail
340,000,000.00 13,265,410.92 20,688,703.72 17,589,946.19 26% 26% Fund-raised 16,364,168.45
treatment system
Total 1,710,000,000.00 18,359,049.54 31,206,452.24 26,035,303.61 -- -- -- -- 23,530,198.17
Explanation on changes of major projects under construction
(3) Construction in process impairment provision In RMB
Item Amount at period-begin Increase in this period Decrease in this period Amount at period-end Accrual reason
Other projects 4,469,121.67 1,947,010.78 2,522,110.89
Total 4,469,121.67 1,947,010.78 2,522,110.89 --
(4) Progress of material construction in progress
Item Progress Note
Construction project in industrial zone 4%
Research institution project 100.5%
R&D of WAPS, industrialization, productivity expansion of diesel common rail system parts 43.8%
Industrialization of tail treatment system 26%
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
(5) Explanation of construction in process
19. Construction materials
20. Disposal of fixed assets
21. Productive biological assets
(1) Measured by cost
(2) Measured by fair value
22. oil/gas assets
23. Intangible assets
(1) Particular about intangible assets
In RMB
Book balance at Increase in this Decrease in Book balance at
Item
period-begin period this period period-end
I. Total original book value 340,571,428.49 21,106,601.86 361,678,030.35
Land use right 304,818,682.22 659,855.00 305,478,537.22
Trademark use right 26,355,900.00 15,241,226.47 41,597,126.47
Computer software 5,857,053.22 1,291,473.39 7,148,526.61
Non-patents technology 3,539,793.05 3,914,047.00 7,453,840.05
II. Total accumulated amortization 43,618,663.37 8,557,240.65 52,175,904.02
Land use right 31,156,109.19 3,312,264.83 34,468,374.02
Trademark use right 9,709,000.00 9,709,000.00
Computer software 2,252,083.42 1,153,939.14 3,406,022.56
Non-patents technology 501,470.76 4,091,036.68 4,592,507.44
III. Total net book value of intangible assets 296,952,765.12 12,549,361.21 309,502,126.33
Land use right 273,662,573.03 -2,652,409.83 271,010,163.20
Trademark use right 16,646,900.00 15,241,226.47 31,888,126.47
Computer software 3,604,969.80 137,534.25 3,742,504.05
Non-patents technology 3,038,322.29 -176,989.68 2,861,332.61
IV. Total impairment provisions 16,646,900.00 16,646,900.00
Land use right
Trademark use right 16,646,900.00 16,646,900.00
Computer software
Non-patents technology
Total book value of intangible asset 280,305,865.12 12,549,361.21 292,855,226.33
Land use right 273,662,573.03 -2,652,409.83 271,010,163.20
Trademark use right 15,241,226.47 15,241,226.47
Computer software 3,604,969.80 137,534.25 3,742,504.05
Non-patents technology 3,038,322.29 -176,989.68 2,861,332.61
The amount amortized in this period accounting as 8,557,240.65 Yuan
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
(2) Expenditure of project development
The proportion of development expenditure of total expenditure in R&D projects in reporting period
The proportion of intangible assets form by internal R&D in total book value of intangible assets at period-end
For development projects, including single price over one million Yuan occurred in this period and the assessment price have been
kept in book, disclosed the assessment institution and way of assessment:
24. Goodwill
In RMB
Provision
Name of invested company or Balance at Increase in this Decrease in this Balance at
reserve at
items formed goodwill period-begin period period period-end
period-end
Weifu Tianli 1,784,086.79 1,784,086.79
Total 1,784,086.79 1,784,086.79
Explain the impairment testing method and withdrawal method for impairment provision of goodwill:
Good will of Weifu Tianli: In 2010, the Company increasing capital to Weifu Tianli for holding merger; the goodwill was the part
that merger cost over than fair value of Weifu Tianli’s identifiable net assets. Weifu Tianli are running normally with profit earned
from January to June of 2013 and in 2011 and in 2012, no sign of impairment of goodwill been found in Weifu Tianli.
25. Long-term deferred expense
In RMB
Amount at Increase in Amortization Other Amount at Reasons for other
Item
period-begin this period during this period decrease period-end decrease
Decoration charge 12,227,687.75 5,584,799.65 2,362,254.88 15,450,232.52
Total 12,227,687.75 5,584,799.65 2,362,254.88 15,450,232.52 --
Explanation on long-term deferred expense:
26. Deferred income tax assets and deferred income tax liabilities
(1) Net amount of deferred income tax assets and deferred income tax liabilities before deduction
Deferred income tax assets and deferred income tax liability that recognized
In RMB
Item Amount at period-end Amount at period-begin
Deferred income tax assets:
Assets impairment provision 36,807,296.07 37,344,316.63
Operation losses from subsidiary 180,318.51 347,619.08
Deferred income 18,079,366.25 18,079,366.25
Internal un-realized profit 1,799,040.43 2,528,003.20
Payable salary, three-guarantee accrual etc. 30,160,869.73 27,720,249.40
Subtotal 87,026,890.99 86,019,554.56
Deferred income tax liability:
Variation of fair value of financial assets available
21,582,165.00 9,972,240.00
for sale which reckoned into capital reserve
Value-added assessment of Weifu Tianli 2,523,425.90 2,578,942.40
Subtotal 24,105,590.90 12,551,182.40
Details of un-recognized deferred income tax assets
In RMB
Item Amount at period-end Amount at period-begin
Deductible temporary differences 12,125,504.81 16,423,371.59
Deductible losses 40,554,686.06 28,767,539.77
Provision reserve of Deductible temporary
51,789,006.95 51,789,006.95
differences-long-term equity investment
Total 104,469,197.82 96,979,918.31
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
The deductible losses of un-recognized deferred income tax assets are expired in the follow year:
In RMB
Year Amount at period-end Amount at period-begin Note
2013 7,634,262.55 7,634,262.55 Weifu ITM and subsidiaries have operation deficit
2014 2,429,134.89 2,429,134.89 Weifu ITM and subsidiaries have operation deficit
2015 3,169,614.06 3,169,614.06 Weifu ITM and subsidiaries have operation deficit
2016 3,044,019.10 3,044,019.10 Weifu ITM and subsidiaries have operation deficit
2017 12,490,509.17 12,490,509.17 Weifu ITM and subsidiaries have operation deficit
2018 11,787,146.29 Weifu ITM and subsidiaries have operation deficit
Total 40,554,686.06 28,767,539.77 --
Details of taxable difference and deductible differences
In RMB
Amount of temporary differences
Item
Amount at period-end Amount at period-begin
Items of taxable differences
Bad debt reserve 10,924,137.58 11,084,339.77
Inventory depreciation provision 105,265,799.23 106,200,666.66
Impairment provision of fixed assets 102,394,582.14 102,656,934.52
Impairment provision of construction in progress 2,522,110.89 4,469,121.67
Impairment provision of intangible assets 16,646,900.00 16,646,900.00
Operation losses from subsidiary 721,274.05 1,390,476.34
Deferred income 120,529,108.31 120,529,108.31
Internal un-realized profit 8,715,470.86 12,243,777.68
Salary payable and expenses withdrawal in advance etc 198,452,464.85 182,183,273.68
Subtotal 566,171,847.91 557,404,598.63
Item of deductible differences
Variation of fair value of financial assets available for sale 143,881,100.00 66,481,600.00
Value-added assessment of Weifu Tianli 16,822,839.32 17,192,949.32
Subtotal 160,703,939.32 83,674,549.32
(2) Net amount of deferred income tax assets and deferred income tax liabilities after deduction
Item of deferred income tax assets and liability after mutual offset
In RMB
Deferred income tax Deductible of temporary Deferred income tax Deductible of temporary
assets and liability differences of payable assets and liability differences of payable
Item
after mutual offset at taxes after mutual offset after mutual offset at taxes after mutual offset
period-end at period-end period-begin at period-begin
Deferred income tax assets 87,026,890.99 86,019,554.56
Deferred income tax liability 24,105,590.90 12,551,182.40
27. Details of asset impairment provision
In RMB
Book balance at Increase in this Decrease in this period Book balance at
Item
period-begin period Reversal Written-off period-end
I. Bad debt reserve 27,507,711.36 446,571.57 504,640.58 27,449,642.35
II. Inventory falling price reserves 106,200,666.66 45,767.89 889,099.54 105,265,799.23
III. Provision reserve of financial
0.00 0.00
assets available for sale
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IV. Provision of investment
0.00 0.00
held-to-maturity
V. Long-term equity investment
51,789,006.95 51,789,006.95
impairment provision
VII. Fixed asset impairment
102,656,934.52 155,856.93 418,209.31 102,394,582.14
provision
VIII. Provision for construction
0.00 0.00
materials
IX. Construction-in-process
4,469,121.67 1,947,010.78 2,522,110.89
impairment provision
X. Provision reserve for
0.00 0.00
productive biological assets
Including: Provision reserve
of mature productive biological 0.00 0.00
assets
XII. Provision reserve of
16,646,900.00 16,646,900.00
intangible assets
XIII. Provision reserve of
0.00
goodwill
XIV. Other 0.00 0.00
Total 309,270,341.16 602,428.50 550,408.47 3,254,319.63 306,068,041.56
Explanation on asset impairment provision:
28. Other non-current assets
29. Short-term loans
(1) Type of Short-term Loans
In RMB
Item Amount at period-end Amount at period-begin
Guarantee loans 413,000,000.00 70,000,000.00
Total 413,000,000.00 70,000,000.00
Explanation on short-term loans
(2) Short-term loans un-paid by expired
30. Transactional financial liabilities
31. Note payable
In RMB
Type Amount at period-end Amount at period-begin
Bank acceptance 493,343,576.23 278,184,200.63
Total 493,343,576.23 278,184,200.63
Amount expired in next accounting period: 493,343,576.23 Yuan
Explanation on note payable:
At period-end, margin saving 160.6173 million Yuan was provided for the bank acceptance, and 112.2845 million Yuan was pledge
for not receivable
32. Account payables
(1) Account payables
In RMB
97
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Item Amount at period-end Amount at period-begin
Within 1 year 1,354,862,414.92 1,041,109,124.61
1-2 years 7,097,136.64 77,004,432.34
2-3 years 15,245,907.71 2,769,567.39
Over 3 years 9,086,097.66 12,628,206.91
Total 1,386,291,556.93 1,133,511,331.25
(2)Accounts payable to shareholders holding 5% or above voting shares of the Company
In RMB
Name of the company Amount at period-end Amount at period-begin
Robert Bosch 15,463,169.84 6,902,117.57
Total 15,463,169.84 6,902,117.57
(3) Explanation on major account payable with over one year age:
Item 2013-06-30 Note
Temporary estimated amount for projects 13,082,119.88 Part of construction account not paid due to failure
for Weifu Jinning acceptance
33. Account received in advance
(1) Account received in advance
In RMB
Item Amount at period-end Amount at period-begin
Within 1 year 41,404,554.68 36,302,939.11
1-2 years 8,093,049.02 14,362,975.85
2-3 years 862,755.47 473,918.02
Over 3 years 1,546,021.16 1,482,478.99
Total 51,906,380.33 52,622,311.97
(2)Accounts received in advance to shareholders holding 5% or above voting shares of the Company
(3) Explanation on major account received in advance with over one year age:
34. Wages payable
In RMB
Book balance at Increase in this Decrease in this Book balance at
Item
period-begin period period period-end
I. Wage, bonus, allowance and subsidy 204,514,141.35 215,860,676.46 185,680,208.95 234,694,608.86
II. Employees’ welfare 15,396,629.03 15,396,777.53 -148.50
III. Social security 37,253,130.94 62,928,210.35 59,001,029.89 41,180,311.40
IV. Housing fund 1,497,503.29 22,688,228.84 22,700,084.84 1,485,647.29
V. Dismission welfare 0.00 0.00 0.00 0.00
VI. Other 33,027,394.12 12,867,245.74 3,569,910.71 42,324,729.15
Total 276,292,169.70 329,740,990.42 286,348,011.92 319,685,148.20
No arrears in wages payable
Outlay for labor union and staff educational charge amounting as 15,249,914.26 Yuan; no non-monetary welfare and no
compensation for dismiss of labor relationship
The wages payable expected to pay and the amount for payment:
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35. Tax payable In RMB
Item Amount at period-end Amount at period-begin
VAT 15,495,236.30 -5,574,642.73
Business tax 12,677.40 782,490.88
Enterprise income tax 22,303,059.43 26,286,094.33
Personal income tax 559,300.05 226,120.35
City maintenance and construction tax 1,970,950.23 1,247,648.89
Educational surtax 1,407,821.57 891,250.66
Other 3,786,454.43 3,612,748.54
Total 45,535,499.41 27,471,710.92
Explanation on tax payable: if the local taxation bureau agrees mutual adjustment between vary branches and plants, explain taxation
calculation:
36. Interest payable
In RMB
Item Amount at period-end Amount at period-begin
Interest payable of re-lending loans of state debt 120,000.00 220,500.00
Total 120,000.00 220,500.00
Explanation on interest payable:
37. Dividend payable
In RMB
Reasons for un-payment over one
Name of the company Amount at period-end Amount at period-begin
year
Minority interest of Weifu Jinning 9,787,250.52
Dividend payable of parent company 204,040,198.50
Total 213,827,449.02 --
Explanation on dividend payable:
38. Other payables
(1) Other payables
In RMB
Item Amount at period-end Amount at period-begin
Within 1 year 67,434,943.95 54,978,609.46
1-2 years 11,308,981.58 8,602,362.68
2-3 years 2,100,091.64 386,885.62
Over 3 years 7,684,002.81 7,396,384.36
Total 88,528,019.98 71,364,242.12
(2) Others payable due to shareholders units holding over 5% (5% included) voting shares of the Company
at period-end
In RMB
Name of the company Amount at period-end Amount at period-begin
Industrial Group 1,000,000.00
Total 1,000,000.00
(3) Explanation on other account payable with over one year age
Item 2013-06-30 Note
Nanjing Jidian Industrial Group Co., Ltd. 4,500,000.00 Current amount
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(4) Explanation on unit of major connected amount for other account payable
39. Accrual liability
40. Non-current liability due within one year
(1) Non-current liability due within one year
(2) Long-term loans due within one year
(3) Bond payable due within one year
(4) Long-term account payable due within one year
41. Other current liability
In RMB
Item Book balance at period-end Book balance at period-begin
Sales discount 11,400,000.00 4,800,000.00
Vary subsidy 1,030,400.00 1,188,800.00
Auditing fee 1,018,867.93 1,500,000.00
Three-guarantee charge 12,362,531.78 12,013,530.77
Certification charge 2,317,423.10 2,317,423.10
Other 9,017,321.49 282,511.40
Total 37,146,544.30 22,102,265.27
Explanation on other current liability:
42. Long-term loan
(1) Category of long-term loans
(2) Top five long-term loans
43. Bond payable
44.Long-term account payable
(1) Top five long-term account payable
In RMB
Rate Interest Balance at
Unit Term Initial amount Loan condition
(%) reckoned period-end
To encourage Weifu Jinning to enter Nanjing
High-tech Technology Industry Development
Hi-tech Zone, financial supporting capital is allotted by
Branch of High-tech branch of Finance Bureau of
2011-12-28 to
Nanjing 5,040,000.00 0% 0.00 5,040,000.00 Nanjing for supporting use, the term is from 28
2026-12-28
Finance December 2011 to 28 December 2026.
Bureau Provided that the operation period in the zone
is less than 15 years, financial supporting
capital will be reimbursed.
Loan The transferred 2.55 Loan transferred from treasury bond: the
transferred national debt capital 3,730,000.00 111,900.00 3,051,818.00 transferred national debt capital received by
%
from received by Weifu Weifu Jinning in 2007. Pay the loans with
100
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treasury Jinning in 2007. Pay 11-year installment since 2012
bond the loans with
11-year installment
since 2012
To encourage Weifu Jinning to enter Nanjing
High-tech Technology Industry Development
Hi-tech Zone, financial supporting capital is allotted by
Branch of High-tech branch of Finance Bureau of
2008-11-10 to
Nanjing 2,750,000.00 0% 0.00 2,750,000.00 Nanjing for supporting use, the term is from 10
2023-11-10
Finance November 2008 to 10 November 2023.
Bureau Provided that the operation period in the zone
is less than 15 years, financial supporting
capital will be reimbursed.
To encourage Weifu Jinning to enter Nanjing
High-tech Technology Industry Development
Hi-tech Zone, financial supporting capital is allotted by
Branch of High-tech branch of Finance Bureau of
2006-7-20 to
Nanjing 1,250,000.00 0% 0.00 1,250,000.00 Nanjing for supporting use, the term is from 20
2021-7-20
Finance July 2006 to 20 July 2021. Provided that the
Bureau operation period in the zone is less than 15
years, financial supporting capital will be
reimbursed.
To encourage Weifu Jinning to enter Nanjing
High-tech Technology Industry Development
Hi-tech Zone, financial supporting capital is allotted by
Branch of High-tech branch of Finance Bureau of
2007-9-17 to
Nanjing 1,230,000.00 0% 0.00 1,230,000.00 Nanjing for supporting use, the term is from 17
2022-9-17
Finance Sep.2007 to 17 Sep. 2022. Provided that the
Bureau operation period in the zone is less than 15
years, financial supporting capital will be
reimbursed.
(2)Details of financing rent payable in long-term payable
45. Specific account payable
46. Other non-current liability
In RMB
Book balance at Book balance at
Item
period-end period-begin
Appropriation on industrialization project of electrical control and high voltage
12,000,000.00 12,000,000.00
jet VE system of low emissions diesel
R&D subsidy for new products 41,079,108.31 41,079,108.31
Appropriation on reforming of production line technology and R&D ability of
7,100,000.00 7,100,000.00
common rail system for diesel by distributive high-voltage
Fund of industry upgrade 60,400,000.00 60,400,000.00
Appropriation on central basic construction investment 5,000,000.00 5,000,000.00
Other 29,030,682.11 8,300,000.00
Total 154,609,790.42 133,879,108.31
Other non-current liability, including vary government subsidy related with assets and income as well as its balance at period-end:
1. Appropriation on industrialization project of electrical control and high voltage jet VE system of low emissions diesel: in
September 2009, Weifu Jinning signed ―Project Contract of Technology Outcome Transferring Special Capital in Jiangsu Province‖
with Nanjing Technical Bureau, according to which Weifu Jinning received appropriation RMB 6.35 million in 2009, RMB 4.775
million received in 2010 and RMB 0.875 million received in 2011. According to the contract, the attendance date of this project was:
from October of 2009 to March of 2012. This contract agreed 62% of newly increased investment in project would be spent in fixed
assets investment. The project still not acceptance at end of reporting period.
2. R&D subsidy for new products: The subsidies for R&D of new products are received from Wuxi New Financial Bureau.
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3. Appropriation on reforming of production line technology and R&D ability of common rail system for diesel by distributive
high-voltage: in 2011, specific fund RMB 7.1 million was allocated from Wuxi New Zone Financial Bureau.
4. Industry upgrading funds: In accordance with the document Xi Xin Guanjing Fa [2012] No.216 and Document Xi Xin Guancai Fa
[2012] No. 85, the Company received funds of 60.4 million Yuan appropriated for industry upgrading this year.
5. Appropriation for investment of capital construction from the central government: In accordance with the document Xi Caijian
[2012] No.43, the Company received appropriation of 5 million Yuan for investment of capital construction from the central
government this year.
47. Share capital
In RMB
Increased (decreased) in this year
Amount at Shares Amount at
period-begin New shares period-end
Bonus shares converted from Other Sub-total
issued
public reserve
Total shares 680,133,995.00 680,133,995.00
Explanation on share capital changes, if there has capital increase/decrease in reporting period, disclosed the CPA’s name and
verification documents; for company limited within 3 years operation, explain the net assets before establishment; for those company
limited changed from limited liability company, explain the verification condition while established.
48. Stock shares
49. Specific Reserve
Explanation on specific Reserve:
Item 2012-12-31 Increase in this period Decrease in this period 2013-06-30
Safety production cost -- 11,890,690.81 11,890,690.81 --
1. In line with the ―Withdrawal of Safety Production Costs and Utilization Management Method for the Enterprises‖ Cai Qi [2012]
No.: 16 jointly issued by Ministry of Finance and State Administration of Work Safety, in year of 2013, the Company withdrawal
monthly equally by excess regressive way based on the actual operation revenue last year.
2. the abovementioned safety production cost including the safety production cost withdrawal required by the Company and the
safety production cost attributable to shareholder of the Company, which was withdrwal required by subsidiaries
50. Capital reserves
In RMB
Amount at Increase in this Decrease in this Amount at
Item
period-begin period period period-end
Capital premium (Share capital premium) 3,614,101,338.14 3,614,101,338.14
Other capital reserve 19,083,331.38 19,083,331.38
Net variation of fair value of financial assets
56,509,360.00 77,399,500.00 11,609,925.00 122,298,935.00
available for sale
Total 3,689,694,029.52 77,399,500.00 11,609,925.00 3,755,483,604.52
Explanation on capital reserve
51. Surplus reserves
In RMB
Amount at Increase in this Decrease in this
Item Amount at period-end
period-begin period period
Statutory surplus reserves 340,066,997.50 340,066,997.50
Total 340,066,997.50 340,066,997.50
Explanation on surplus reserve, if share capital converted from surplus reserve, remedy deficit and dividend distributed, explain
relevant resolutions:
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52. General risk provision
Explanation on general risk provision:
53. Retained profits
In RMB
Withdrawal or allocation
Item Amount
ratio
Retained profits at the end of last year before
3,946,085,733.22 --
adjustment
Retained profits at the beginning of the year after
3,946,085,733.22 --
adjustment
Add: The net profits belong to owners of patent
531,953,834.22 --
company of this period
Common stock dividends payable 204,040,198.50
Retained profits at the end of the period 4,273,999,368.94 --
Details about adjusting the retained profits at the beginning of the year:
(1) The retroactive adjustments to Accounting Standards for Business Enterprises and its relevant new regulations affect the
undistributed profits at the beginning of the year amounting to 0 Yuan.
(2) The changes in accounting policies affect the undistributed profits at the beginning of the year amounting to 0 Yuan.
(3) The major accounting error correction affects the undistributed profits at the beginning of the year amounting to 0 Yuan.
(4) Merge scope changes caused by the same control affect the undistributed profits at the beginning of the year amounting to 0 Yuan.
(5) Other adjustments affect the undistributed profits at the beginning of the year amounting to 0 Yuan.
The undistributed profits explain that the company initial public offering bonds should clearly state if the accumulated profits are
decided to be shared by old and new shareholders by general meeting of stockholders before issuing; while the company should
clearly disclose that the profits in the dividends payable belong to old shareholders after auditing if the general meeting of
stockholders decides the accumulated profits are allocated and shared by old shareholders before issuing.
According to the profit distribution plan 2011 approved in the Board in April 2012, as well as deliberated in Annual Shareholders’
General Meeting of 2011, base on the total share capital after privately offering in February 2012, distributed 3.00 Yuan (tax
included) for each 10 shares, totally 204,040,198.50 Yuan common dividend were distributed
The profit distribution plan for year of 2012 was deliberated and approved by the 9th meeting of 7th session of the Board and annual
shareholders’ general meeting of 2012, that is, distributed RMB 3.00 (tax included) for every 10 shares in cash and 5 more bonus
shares (tax included) based on total share capital of the Company 680,133,995 shares, no capitalization of public reserves
implemented.
54. Operating income and cost
(1) Operating income and cost
In RMB
Item Amount of this period Amount of last period
Main operating income 2,653,564,877.88 2,437,884,756.39
Other operating income 225,400,128.30 184,856,377.61
Operating cost 2,221,406,094.80 1,935,729,790.13
(2) Main business (By industries)
In RMB
Amount of this period Amount of last period
Industry
Operating income Operating cost Operating income Operating cost
Auto parts 2,653,564,877.88 2,017,109,946.68 2,437,884,756.39 1,768,194,868.67
Total 2,653,564,877.88 2,017,109,946.68 2,437,884,756.39 1,768,194,868.67
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(3) Main business (By products)
In RMB
Amount of this period Amount of last period
Products
Operating income Operating cost Operating income Operating cost
Fuel injection system 2,053,972,523.57 1,513,096,920.14 1,926,103,342.74 1,346,473,583.48
Intake system 87,486,778.13 63,882,254.47 85,367,431.72 60,566,106.97
Tail treatment system 512,105,576.18 440,130,772.07 426,413,981.93 361,155,178.22
Total 2,653,564,877.88 2,017,109,946.68 2,437,884,756.39 1,768,194,868.67
(4) Main business (By districts)
In RMB
Amount of this period Amount of last period
District
Operating income Operating cost Operating income Operating cost
Domestic sales 2,512,968,209.41 1,884,690,405.41 2,274,800,702.10 1,610,187,800.09
Overseas sales 140,596,668.47 132,419,541.27 163,084,054.29 158,007,068.58
Total 2,653,564,877.88 2,017,109,946.68 2,437,884,756.39 1,768,194,868.67
(5) The operating income of the top five customers of the Company
In RMB
The percentage in all operating income of the Company
Customer name Primary business income
(%)
Client 1 271,292,017.75 9.42%
Client 2 195,171,657.12 6.78%
Client 3 193,614,556.25 6.73%
Client 4 187,516,091.78 6.51%
Client 5 170,113,600.48 5.91%
Total 1,017,707,923.38 35.35%
Explanation on operating income
55. Contract item income
56. Business tax and surcharges
In RMB
Item Amount of this period Amount of last period Calculating and payment standards
Business tax 149,639.43 704,052.72 5%
City maintenance and construction
10,669,039.00 9,081,654.13 7%
tax
Educational surtax 7,620,741.41 6,487,346.87 5%
Total 18,439,419.84 16,273,053.72 --
Explanation on business tax and surcharges
57. Sales expenses
In RMB
104
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Item Amount of this period Amount of last period
Salary and fringe benefit 12,599,026.50 16,039,287.58
Consumption of office materials and
5,257,175.42 4,303,350.46
business travel charge
Transportation charge 8,690,229.74 7,346,532.35
Warehouse charge 2,229,366.45 3,818,053.42
Three-guarantee fee 44,206,026.43 43,548,640.88
Other 8,337,405.31 12,866,202.96
Total 81,319,229.85 87,922,067.65
58. Administration expenses
In RMB
Item Amount of this period Amount of last period
Salary and fringe benefit 112,599,710.21 109,018,520.82
Depreciation charger and long-term assets
23,168,500.66 17,818,724.34
amortization
Consumption of office materials and
10,599,487.85 8,098,002.11
business travel charge
Tax 7,155,195.29 4,427,351.67
Other 121,569,221.53 81,516,778.60
Total 275,092,115.54 220,879,377.54
59. Financial expenses
In RMB
Item Amount of this period Amount of last period
Interest expenses 6,587,753.14 4,899,930.16
Note discount interest expenses 1,846,228.97 160,623.35
Saving interest income -37,422,324.27 -18,093,874.94
Gains/losses from exchange 1,428,142.66 249,079.34
Handling charges 378,608.72 305,492.34
Total -27,181,590.78 -12,478,749.75
60. Income of fair value changes
61. Investment income
(1) Particulars about investment income
In RMB
Item Amount of this period Amount of last period
Income of long-term equity investment calculated based on cost 360,000.00
Income of long-term equity investment calculated based on
273,472,173.93 159,246,544.27
equity
Investment income obtained from held-to-maturity investment 25,157,496.58
Investment income obtained from available-for-sale financial
740,000.00
assets
Total 298,989,670.51 159,986,544.27
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(2) Income of long-term equity investment calculated based on cost
In RMB
Company name Amount of this period Amount of last period Reasons of change (+,-)
Guolian Security 360,000.00
Total 360,000.00 --
(3) Income of long-term equity investment calculated based on equity
In RMB
Amount of this Amount of last
Company name Reasons of change (+,-)
period period
Profit growth due to influence from auto
Bosch Automobile Diesel System Co., Ltd 146,756,243.01 63,897,901.88
industry
Profit growth due to influence from auto
CNEMS 89,664,088.66 64,043,395.79
industry
Wuxi Weifu Environment Protection Catalyst Profit growth due to influence from auto
22,940,499.40 22,442,877.70
Co.,Ltd. industry
Wuxi Weifu Autocam Fine Machinery Co. Profit growth due to influence from auto
9,078,506.38 5,867,407.16
Ltd. industry
Profit growth due to influence from auto
Wuxi Weifu Instrument Making Co., Ltd. 5,032,836.48 2,989,998.10
industry
Other 4,963.64
Total 273,472,173.93 159,246,544.27 --
Investment income description: It should be introduced if there is a significant restriction to repatriation of investment income; it also
should be introduced if there is no this kind of significant restrictions:
62. Asset impairment loss
In RMB
Item Amount of this period Amount of last period
I. Bad debt loss -58,069.01 1,964,308.38
II. Inventory falling price loss -45,767.89 71,492.00
III. Impairment loss of financial assets available for sales
IV. Impairment loss of investment held-to-maturity
V. Impairment loss of long-term equity investment
VI. Impairment loss of Investment real estate
VII. Impairment loss of fixed assets 155,856.93 0.00
VII. Impairment loss of engineering materials
IX. Impairment loss of construction in process
X. Impairment loss of productive biological assets
XI. Impairment loss of oil/gas assets
XII. Impairment loss of intangible assets
XIII. Impairment loss of goodwill
XIV. Other
Total 52,020.03 2,035,800.38
106
无锡威孚高科技集团股份有限公司 2013 半年度报告全文
63. Non-operating income
(1) Non-operating income
In RMB
Amount reckoned into
Item Amount of this period Amount of last period current non-recurring
gains/losses
Non-current assets disposal gains 1,282,327.98 2,214,516.31 1,282,327.98
Including: fixed assets disposal gains 1,282,327.98 2,214,516.31 1,282,327.98
Government grants 195,025.00 1,323,000.00 195,025.00
Other 815,639.48 741,472.44 815,639.48
Total 2,292,992.46 4,278,988.75 2,292,992.46
(2) Details of government grants
In RMB
Amount of Amount of
Item Note
this period last period
Preference for re-employment special
93,025.00 Yun Cai Yu [2007] No.: 183, Yun Te Fa [2013] No.: 12
zone in Dongchuan District
Re-evaluation reward for the model
Yong Jing Xin Ji Gai [2012] No.: 294, Yong Cai Zheng
enterprises of innovation and 100,000.00
Gong [2013] No.: 1138
entrepreneurship
Municipal new product subsidy for year
1,000.00 Bei Qu Ke Ji [2012] No.: 14
of 2012
Advanced collective award of safety
1,000.00 Jiang Bei Guan[2013] No.: 8
production for year of 2012
Technical reform of distributive HPCR 553,000.00 Xi Zheng Ban Fa (2011) No.: 305
Innovation support fund for technological
720,000.00 Ningbo Municipal Bei Qu Ke Ji (2012) No.: 15
enterprises
Jin Cai 511 award of Financial Bureau of
50,000.00 Ningbo Municipal Bei Qu Zheng Fa (2012) No.: 9
Jiangbei
Total 195,025.00 1,323,000.00 --
Explanation on non-operating income
64. Non-operating expenditure
In RMB
Amount reckoned into
Item Amount of this period Amount of last period current non-recurring
gains/losses
non-current assets disposal losses 1,725,468.28 381,171.82 1,725,468.28
Including: fixed assets disposal losses 1,725,468.28 381,171.82 1,725,468.28
Donations 13,500.00 13,500.00
Local fund etc. 3,016,422.95 2,696,933.81
Other expenditure 291,012.34 226,854.67 291,012.34
Total 5,046,403.57 3,304,960.30 2,029,980.62
Explanation on non-operating expenditure
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65. Income tax expense
In RMB
Item Amount of this period Amount of last period
current income tax calculated based on tax law and relevant
53,101,121.58 58,851,751.79
rules
Increase/decrease of deferred income tax assets -1,007,336.43 1,599,807.36
Increase/decrease of deferred income tax liability -55,516.50 -55,516.50
Total 52,038,268.65 60,396,042.65
66. Calculation of basic earnings per share and diluted earnings per share
Basic earnings per share =P0÷S
S= S0＋S1＋Si×Mi÷M0– Sj×Mj÷M0-Sk
Among which: P0 is the net profit attributable to the shareholders of ordinary shares of the Company or the net
profit attributable to the shareholders of ordinary shares after the deduction of non-recurring gains and losses; S is
the weighted average number of ordinary shares outstanding; S0 is the total number of shares at the beginning of
the period; S1 is the number of increased shares due to reserve’s conversion into share capital or distribution of
dividends in the reporting period; Si is the number of increased shares due to issue of new shares or debt-to-equity
in the reporting period; Sj is the number of decreased shares due to repurchase in the reporting period; Sk is the
number of contraction of shares in the reporting period; M0 is the number of months in the reporting period; Mi is
the number of accumulated months from the next month of shares increase to the end of the reporting period; Mj is
the number of accumulated months from the next month of shares decrease to the end of the reporting period.
Diluted earnings per share=P1/(S0＋S1＋Si×Mi÷M0–Sj×Mj÷M0–Sk+The weighted average number of ordinary
shares increased due to call warrants, share options and convertible bonds etc.)
Among which, P1 is the net profit attributable to the shareholders of ordinary shares of the Company or the net
profit attributable to the shareholders of ordinary shares after the deduction of non-recurring gains and losses, as
adjusted according to Enterprise Accounting Standards and relevant regulations after the effect of diluted potential
ordinary shares is taken into account. In the calculation of diluted earnings per share, the Company shall taken the
effect of all diluted potential ordinary shares on the net profit attributable to the shareholders of ordinary shares of
the Company or the net profit attributable to the shareholders of ordinary shares after the deduction of
non-recurring gains and losses and the weighted average number of shares and into account of the diluted earnings
per share according to the extent of dilution in sequence until the diluted earnings per share reaches the minimum.
Item Code Amount of this period Amount of last period
Net profit attributable to the shareholders of ordinary shares of the P0 531,953,834.22 446,281,174.98
Company (Ⅰ)
Non-recurring gains/losses 21,861,279.99 2,365,433.55
Net profit attributable to the shareholders of ordinary shares after the P0 510,092,554.23 443,915,741.43
deduction of non-recurring gains and losses (Ⅱ)
Total number of shares at the beginning of the period S0 680,133,995.00 567,275,995.00
The number of increased shares due to reserve’s conversion into share S1
capital or distribution of dividends in the reporting period
The number of increased shares due to issue of new shares or Si 112,858,000.00
debt-to-equity in the reporting period
The number of decreased shares due to repurchase in the reporting period Sj
The number of contraction of shares in the reporting period Sk
Number of months in the reporting period M0 6 6
The number of accumulated months from the next month of shares Mi 4
increase to the end of the reporting period
The number of accumulated months from the next month of shares Mj
decrease to the end of the reporting period
The weighted average number of ordinary shares outstanding S 680,133,995.00 642,514,662.00
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Basic EPS (Ⅰ) 0.78 0.69
Basic EPS (Ⅱ) 0.75 0.69
Diluted EPS (Ⅰ) 0.78 0.69
Diluted EPS (Ⅱ) 0.75 0.69
67. Other consolidated income
In RMB
Item Amount of this period Amount of last period
1.gains (losses) amount generated by available-for-sale financial assets 77,399,500.00 90,872,000.00
Less: impact on income tax arising from assets available for sale 11,609,925.00 13,630,800.00
Subtotal 65,789,575.00 77,241,200.00
Total 65,789,575.00 77,241,200.00
Explanation on other consolidated income
The privately offering share of SDEC was purchased by the Company in March 2012 with restriction term of one year. RMB
53,339,200.00 was reckoned into capital reserve after deduction of deferred income tax liability from changes of fair value at
period-end
The privately offering share of Miracle Logistics was purchased by the Company in June 2013 with restriction term of one year.
RMB 12,450,375.00 was reckoned into capital reserve after deduction of deferred income tax liability from changes of fair value at
period-end
68. Notes to statement of cash flow
(1) Other cash received in relation to operation activities
In RMB
Item Amount
Income from bank deposit interest 30,176,612.66
Government grant 20,925,707.11
Other 1,614,068.65
Total 52,716,388.42
Explanation on other cash received in relation to operation activities
(2) Other cash paid in relation to operation activities
In RMB
Item Amount
Expenses of cash paid 58,408,671.69
Expenses of management cash paid 76,159,442.94
Other 2,340,248.85
Total 136,908,363.48
Explanation on other cash paid in relation to operation activities
(3) Cash received from other investment activities
(4) Cash paid related with investment activities
(5) Other cash received in relation to financing activities
(6) Cash paid related with financing activities
In RMB
Item Amount
Loan transferred from treasury bond pay back 339,091.00
Total 339,091.00
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Explanation on cash paid related with financing activities
69. Supplementary information to statement of cash flow
(1) Supplementary information to statement of cash flow
In RMB
Amount in this Amount in last
Supplementary information
period period
1. Net profit adjusted to cash flow of operation activities: -- --
Net profit 554,035,707.65 472,944,324.40
Add: assets impairment losses 52,020.03 2,035,800.38
Depreciation of fixed assets, consumption of oil assets and depreciation of productive
84,786,881.01 75,348,777.20
biology assets
Amortization of intangible assets 4,338,599.86 3,588,885.55
Amortization of long-term deferred expenses 2,362,254.88 1,789,687.15
Loss from disposal of fixed assets, intangible assets and other long-term assets(gain is
443,140.30 -1,833,344.49
listed with ―-‖)
Financial expenses (gain is listed with ―-‖) 7,067,753.14 5,095,769.31
Investment loss (gain is listed with ―-‖) -298,989,670.51 -159,986,544.27
Decrease of deferred income tax asset( (increase is listed with ―-‖) -1,007,336.43 1,599,807.36
Increase of deferred income tax liability (decrease is listed with ―-‖) -55,516.50 -55,516.50
Decrease of inventory (increase is listed with ―-‖) -23,460,309.04 72,815,025.96
Decrease of operating receivable accounts (increase is listed with ―-‖) -678,860,014.66 18,952,888.22
Increase of operating payable accounts (decrease is listed with ―-‖) 667,859,778.27 -54,660,012.25
Net cash flow arising from operating activities 318,573,288.00 437,635,548.02
2. Material investment and financing not involved in cash flow -- --
3. Net change of cash and cash equivalents: -- --
Balance of cash at period end 2,168,917,334.35 2,943,452,751.26
Less: Balance of cash equivalent at year-begin 2,432,803,698.08 745,778,764.22
Net increase of cash and cash equivalents -263,886,363.73 2,197,673,987.04
(2) Relevant information about obtaining/disposal of subsidiary and other business unit in report period
In RMB
Amount of this Amount of last
Supplementary information
period period
I. Relevant information about obtaining subsidiary and other business units: -- --
1. Price of obtaining subsidiary and other business units 1,401,687.00
2. Cash and cash equivalent paid for obtaining subsidiary and other business units 1,401,687.00
Less: Cash and cash equivalent held by subsidiary and other business units 20,121,026.18
3. Net cash paid for obtaining subsidiary and other business units -18,719,339.18
II. Relevant information about disposal of subsidiary and other business units: -- --
4. Net assets of subsidiary disposed 148,357,716.54
Current assets 114,695,674.80
Non-current assets 78,008,139.41
Current liability 44,346,097.67
(3) Constitution of cash and cash equivalent:
In RMB
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Item Amount at period-end Amount at period-begin
Ⅰ. Cash 2,168,917,334.35 2,432,803,698.08
Including: stock cash 757,186.34 481,336.46
Bank deposit available for payment at any time 2,168,160,148.01 2,432,322,361.62
Ⅲ. Balance of cash and cash equivalent at year-end 2,168,917,334.35 2,432,803,698.08
Explanation on constitution of cash and cash equivalent:
70. Notes of changes of owners’ equity
Explain the name and adjusted amount in ―Other‖ at end of last period as well as the retroactive adjustment arising from enterprise
combination under same control:
VIII. Accounting treatment of assets securitization
1. Explain the main exchange of assets securitization and its accounting treatment and provision of
bankruptcy-remote
2. Subject of special purpose without controlling rights on hand by actually bear the risks
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IX. Related Parties and Transactions
1. Parent company of the Company
Registrat Legal Proportion of shares Proportion of
Parent Business Organization
Relationship Nature ion representat Registered capital held to the voting right to the Final controller of the Company
company nature code
place ive Company (%) Company (%)
State-owned Assets Supervision
Wuxi Operation of
Controlling State-owned Jiang & Administration Commission
Industry Wuxi state-owned 3432673241.46 20% 20% 13600265-4
shareholder exclusively Guoxiong of Wuxi Municipality of Jiangsu
Group assets
Province
Explanation on parent company of the enterprise
2. Subsidiary of the Company
Proportion Proportion
Registration Legal Business Registered Organization
Subsidiary of the Company Type Nature of shares of voting
place representative nature capital code
held (%) right (%)
Parts of
Controlling Limited
Nanjing Weifu Jinning Co., Ltd. Nanjing Chen Xuejun combustion 346,286,825.80 80% 80% 13497754-6
subsidiary company
engine
Controlling Limited Tail, Cleaner,
Wuxi Weifu Leader Catalytic Converter Co., Ltd. Wuxi Chen Xuejun 502,596,300.00 94.81% 94.81% 13600159-8
subsidiary company muffler
Parts of
Controlling Limited Wang
Weifu Mashan Pump Glib Co., Ltd. Wuxi combustion 45,000,049.36 100% 100% 13625011-3
subsidiary company Xiaodong
engine
Parts of
Controlling Limited Wang
Wuxi Weifu Chang’an Co., Ltd. Wuxi combustion 60,000,000.00 100% 100% 70354868-9
subsidiary company Xiaodong
engine
Controlling Limited
Jiangsu Weifu Nano Technology Co., Ltd. Wuxi Xu Liangfei Nano material 30,000,000.00 80% 80% 74066428-3
subsidiary company
Parts of
Controlling Limited
Wuxi Weifu Automotive Diesel System Co., Ltd. Wuxi Chen Xuejun combustion 300,000,000.00 100% 100% 76418029-1
subsidiary company
engine
Controlling Limited International
Weifu International Trade Co., Ltd. Wuxi Gao Guoyuan 30,000,000.00 100% 100% 76103151-4
subsidiary company Trade
Parts of
Controlling Limited
Wuxi Weifu ITM Supercharging Technique Co., Ltd. Wuxi Chen Xuejun combustion 160,000,000.00 100% 100% 72418270-0
subsidiary company
engine
Parts of
Wuxi Weifu Schmidt Power System Spare Parts Co., Controlling Limited
Wuxi Chen Xuejun combustion 18,000,000.00 45% 45% 69449050-9
Ltd. subsidiary company
engine
Ningbo Weifu Tianli Supercharging Technique Co., Controlling Limited Ningbo Chen Xuejun Parts of 104,690,000.00 51% 51% 73424810-1
combustion
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Ltd. subsidiary company engine
Parts of
Chaoyang Weifu Jialin Machinery Manufacture Co., Controlling Limited
Chaoyang Xu Yunfeng combustion 8,000,000.00 51% 51% 78877120-5
Ltd. subsidiary company
engine
Parts of
Controlling Limited Wang
Anhui Weifu Tianshi Machinery Co., Ltd. Quanjiao combustion 10,000,000.00 52% 52% 57301523-4
subsidiary company Weiliang
engine
Parts of
Controlling Limited
Kunming Xitong Machinery Co., Ltd. Kunming Xu Yunfeng combustion 4,000,000.00 70% 70% 77554741-5
subsidiary company
engine
Controlling Limited USD
Wuxi Weifu Autocam Fine Machinery Co. Ltd. Wuxi Gao Guoyuan Auto part 51% 51% 77540714-8
subsidiary company 10,000,000.00
3. Details of joint-venture and affiliated enterprise of the Company
Equity
Proportion of
proportion
Register voting rights Organization
Invested company Type Legal rep. Business nature Register capital held by the Relationship
place in invested code
Company
company (%)
(%)
I. Joint venture
Joint-ventur
Wuxi Weifu Environment Protection Joint-venture of
Wuxi Ou Jianbin Catalyst 50,000,000.00 49% 49% e of Weifu 75969849-1
Catalyst Co.,Ltd. Sino-foreign
Leader
II. Associated company
Accessories and
Joint-venture of BOHLER matching parts of USD Associated
Bosch Automobile Diesel System Wuxi 34% 34% 60791796-6
Sino-foreign KLAUS internal combustion 200,000,000.00 company
engine
Accessories and
Limited Chen matching parts of Associated
CNEMS Shanghai 600,620,000.00 20% 20%
company Hong internal combustion company
engine
Accessories and
Wuxi Weifu Instrument Making Co., Limited Chen matching parts of Associated
Wuxi 12,000,000.00 20% 20% 73944370-7
Ltd. company Haojun internal combustion company
engine
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4. Particulars about other related parties
Other related parties Relationship with the Company Organization code
Robert Bosch Second largest shareholder of the Company
Explanation on other related parties:
5. Related transaction
(1) Statement of commodity purchased and labor service received In RMB
Amount of this period Amount of last period
Pricing way and decision Ratio in Ratio in
Related party Content similar similar
making procedures Amount Amount
transactions transactio
(%) ns (%)
Procurement Market price / approved by
Wuxi Weifu Instrument
of goods or shareholders general 39,749,577.78 2.55% 43,337,697.84 2.57%
Making Co., Ltd.
labor service meeting
Procurement Market price / approved by
Bosch Automobile Diesel
of goods or shareholders general 110,325,315.29 7.07% 90,833,724.75 5.38%
System
labor service meeting
Procurement Market price / approved by
Wuxi Weifu Environment
of goods or shareholders general 283,965,030.85 18.2% 303,607,465.07 17.97%
Protection Catalyst Co.,Ltd.
labor service meeting
Wuxi Weifu Autocam Fine
Procurement Market price / approved by
Machinery Co. Ltd.
of goods or shareholders general 8,536,957.14 0.55% 4,763,341.25 0.28%
(included in consolidation
labor service meeting
range since June 2013)
Procurement Market price / approved by
Robert Bosch of goods or shareholders general 23,281,068.25 1.49% 23,895,768.70 1.41%
labor service meeting
Statement of commodity sales and labor service provided In RMB
Amount of this period Amount of last period
Pricing way and decision Ratio in Ratio in
Related party Content similar similar
making procedures Amount Amount
transactions transactio
(%) ns (%)
Wuxi Weifu Instrument Sales of Market price / approved by
9,850,929.54 0.34% 8,425,094.85 0.32%
Making Co., Ltd. goods shareholders general meeting
Bosch Automobile Diesel Sales of Market price / approved by
168,327,820.72 5.85% 137,990,850.23 5.26%
System goods shareholders general meeting
Wuxi Weifu Environment Sales of Market price / approved by
7,178,065.34 0.25% 3,113,662.15 0.12%
Protection Catalyst Co.,Ltd. goods shareholders general meeting
Wuxi Weifu Autocam Fine
Machinery Co. Ltd. Sales of Market price / approved by
1,684,161.14 0.06% 1,739,173.37 0.07%
(included in consolidation goods shareholders general meeting
range since June 2013)
Sales of Market price / approved by
Robert Bosch 8,987,663.30 0.31% 7,600,801.91 0.29%
goods shareholders general meeting
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(2) Related trusteeship/contract
(3) Related leasing
(4) Related guarantee
(5) Borrowed funds from related party
(6) Assets transfer, debt restructure of related party
(7) Other related transactions In RMB
Item Related party Jan.-June 2013 Jan.-June 2012
Sales of fixed assets Wuxi Weifu Environment Protection Catalyst 1,055.85 --
Co.,Ltd.
Payable technology service Bosch Automobile Diesel System Co., Ltd 2,217,574.00
Land and trademark fee payable Wuxi Industry Group 1,600,000.00 4,286,546.16
Purchasing exclusive right to use trademark Wuxi Industry Group 16,155,700.00
Equity transfer paid Wuxi Industry Group 206,289,000.00
Equity transfer paid ROBERT BOSCH GMBH 137,526,000.00
Technology royalties payable ROBERT BOSCH GMBH 8,711,696.15 9,635,945.94
Maintenance cost payabel ROBERT BOSCH GMBH 32,318.44
6. Account receivable/payable for related parties
Account receivable from related parties
In RMB
Period-end Period-begin
Item Related parties Bad debt Bad debt
Book balance Book balance
reserve reserve
Account receivable Bosch Automobile Diesel System Co., Ltd 118,269,164.58 53,027,656.44
Account receivable Robert Bosch 6,796,785.04
Account receivable Wuxi Weifu Instrument Making Co., Ltd. 12,551.28
Account receivable Wuxi Weifu Autocam Fine Machinery Co. Ltd. 1,865,602.94
Account paid in
Wuxi Industry Group 15,155,700.00
advance
Account paid in Wuxi Weifu Environment Protection Catalyst
683,559.35
advance Co.,Ltd.
Account payable for related parties
In RMB
Item Related parties Amount at period-end Amount at period-begin
Account payable Bosch Automobile Diesel System 5,623,282.56 5,623,282.56
Account payable Robert Bosch 15,463,169.84 6,902,117.57
Account payable Wuxi Weifu Environment Protection Catalyst Co., Ltd. 159,866,066.74 141,686,937.76
Account payable Wuxi Weifu Instrument Making Co., Ltd. 19,856,368.88 19,657,909.58
Account payable Wuxi Weifu Autocam Fine Machinery Co. Ltd. 1,078,898.36
Other account payable Wuxi Industry Group 1,000,000.00
Account received in
Wuxi Weifu Environment Protection Catalyst Co., Ltd. 2,614,855.43 4,146,398.48
advance
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
X. Share payment
1. General particular about share payment
2. Share payment settled by equity
3. Share payment settled by cash
4. Service payment for shares
5. Particular about amendment of share payment and its termination
XI. Contingency
1. Contingent liability and its financial influence formed by un-settle lawsuits or arbitration
2. Contingent liability and its financial influence formed from debt guarantee offered to other units
Other contingent liability and its financial influence:
1. Bank saving 160,617,296.23 Yuan was provided for issuing bank acceptance or credit margin
2. Receivable bank acceptance 112,284,497.60 Yuan was pledge to the bank for issuing bank acceptance
XII. Commitments
1. Material commitments
2. Commitments made previously
The Company entered into a trademark transfer agreement with Wuxi Industry Group, the Company plans to purchased the
trademark of ―锡‖ owned by Wuxi Industry Group; as of 31 December 2013, the trademark transfer amount RMB 15.1557 million
was paid in avance to Wuxi Industry Group, the ownership transfer procedures still in process till end of this reporting period.
XIII. Subsequent events of balance sheet
1. Explanation on major event after balance sheet date
2. Profit distribution after balance sheet date
In RMB
Profit or dividend plans to distributed 0.00
Profit or dividend declare to distributed which have been approved 544,107,195.50
3. Other explanation after balance sheet date
(1) According to the the resolution of 9th meeting of 7th session of the Board held on 26 March 2013, the Company increase capital
to Weifu Schmidt, share-holding of the Company turns to 66% from 45%, relevant changes of industrial and commerce still in
process at present.
(2) According to the the profit distribution plan for year of 2012 approved by the Board in March 2013, and deliberated by the annual
shareholders’ general meeting of 2012, the Company distributed RMB 3.00 (tax included) for every 10 shares in cash and 5 more
bonus shares (tax included) based on total share capital of the Company 680,133,995 shares; the plan completed in July 2013 and
capial RMB 340,066,997.00 was increased, the register capital turns to RMB 1,020,200,992 after capital increased, relevant cahnegs
of industrial and commece still in process at present.
XIV. Other major event
1. Non-monetary assets exchange
2. Debt reorganization
3. Enterprise combination
Weifu Autocam: is the original joint venture of the Company, after 1 percent equity of Weifu Autocam held by American
Autocam Company was transfer in the reporting period, Weifu Autocam comes to the controlling subsidiary of the Company with
51% equity held by the Company. Relevant industrial and commercial changes has completed on 17 May 2013 and included in
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consoldiation statement range since June 2013.
4. Leasing
5. Financial instrument issued outside and convertible to shares in report period
6. Main content of annuity plan and major changes
In RMB
Gains/losses of Changes of fair
Impairment
Amount at change of fair value reckoned Amount at
Item accrual in
period-begin value in this into equity period-end
this term
term accumulatively
Financial assets
1. Financial assets measured by fair value
and its variation reckoned into current
0.00 0.00
gains/losses (derivative financial assets
excluded)
2. Derivative financial assets 0.00 0.00
3. Financial assets available for sales 265,689,600.00 65,789,575.00 412,420,600.00
Subtotal of financial assets 265,689,600.00 65,789,575.00 412,420,600.00
Total 265,689,600.00 65,789,575.00 412,420,600.00
Financial liability 0.00 0.00 0.00
7. Foreign currency financial assets and financial liability
In RMB
Gains/losses of Changes of fair value Impairment
Amount at Amount at
Item change of fair value reckoned into equity accrual in this
period-begin period-end
in this term accumulatively term
Financial assets
Subtotal of financial assets 0.00 0.00
Financial liability 0.00 0.00
8. Main content of pension plan and major changes
In accordance with the ―Enterprise Annuity Plan‖ deliberated and approved by the 8th meeting 7th session of the Board, the plan was
implemented since January 2013.
The enterprise annity plan of the Company including implementation range, qualification, mode of financing, method of payment,
account management, fund management, way of calculation and payment for treatment, organization management and supervise,
plan revision and termination etc., details are as:
(1) implementation range and qualification: participating in the basic endowment insurance and performed obiligation of paying
premium, entered into a labor contract with the Company with over one year and has passed the appraisal during probation
(2) mode of financing and method of payment: contributed from employers and employees
Allocation of payment for enterprise: employee’s annual quota=total salary receivable in last year* employee’s annual allocation
ratio, the allocation ratio for the year limited with 5%, corresponding adjustmetn should be made according to the adjustment of
payment proportion from the Company. Special incentive allocation for core talents: as for the core talent with outstanding
contributions for the Company, perfomed special incentive allocation based on the contribution and incentive requriement, expenses
will list and expenses from the enterprise’ account. Detail special incentive allocation should be approved by the Board in aspect of
quta or control policy, authorized the management level to formulated detail measurments and carried out the allocation. If there has
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balance in the allocation quota, than the balance should run for use in later year.
(3) Account management: in way of individual account
Mode of account management for enterprise annity agreed in the Plan as:
Enterprise account: the enterprise annity equity arising from enterprise payment collection, which has not allocated to the employee’s
account, is the equity without assigned. The capital arising from equity without assigned will re-allocate through the account of the
enterprise.
Individual account: individual equity of basic information of the employees, including payment, gains, payables and balance are
recorded in the individual account, of which, the investment gains arising from the payment of enterprise was reckoned into the
sub-account of enterprise payment, individual payment and investment gains reckoned into the sub-account of individual payment.
(4) Fund management: enterprise annuity fund comprise of the enterprise payment, employee payment and investment operation
income of enterprise annuity.
The enterprise annuity fund of the Company is adopt the corporate mode, enterprise annuity fund collected will delegate to a
corporate institution (―bailee‖ for short) for management and market-oriented operation , which meet the regulation of the nation.
The Company entered into a entrusted management conract with the bailee for enterprise annuity fund; the annuity bailee should
authorize annuity-management-qualify trustee, account manager and investment manager to providing unified relevant services, and
shall signed the written contract with them respectively for the clientage recognized.
Gains from investment operation from enterprise annuity fund included in the enterprise annuity fund, and reckoned into the
individual account and enterprise account based on net income seperately.
(5) Mode of calculation and payment for the treatment: individual payment and investment gains totally attributable to the individual
account of employee’s enterprise annuity.
Table of enterprise payment:
Continuous working yeras Contribution proportion
Years works for the enterprise <5-year 0%
5-year≤Years works for the enterprise <10-year 20%
10-year≤Years works for the enterprise <15-year 50%
15-year≤Years works for the enterprise <20-year 80%
Years works for the enterprise≥20-year 100%
(6) Oragnization management and supervise
Committee of the annuity in charge of the leadership, coordination and supervision for the enterprise annuity. Members of committee
of the annuity comprise of the manager and staff representative of the Company. And H&R department in charge of the day-to-day
works.
(7) Plan revision and termination
In process of the implementaion of annuity, committee of the annuity has rights to revised the enterprise annuity plan according to
relevant regulations and rules and actrual condition, adjusted the payment standards corespondingly within the payment limite for the
enterprise and employees.
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9. Other
XV. Principle notes of financial statements of parent company
1. Accounts receivable
(1) Accounts receivable
In RMB
Amount at period-end Amount at period-begin
Book balance Bad debt reserve Book balance Bad debt reserve
Type
Proportio Proporti Proporti Proporti
Amount Amount Amount Amount
n (%) on (%) on (%) on (%)
Account receivable with
single significant amount
6,919,976.11 1.07% 6,919,976.11 100% 6,919,976.11 1.04% 6,919,976.11 100%
and withdrawal bad debt
provision separately
Account receivable of bad debt provision withdrawal by combination
Age combination 463,797,260.52 71.79% 2,814,576.99 0.61% 370,797,881.41 55.42% 2,921,815.31 0.79%
Subsidiary combination 170,084,196.49 26.33% 286,265,572.30 42.78%
Subtotal of group 633,881,457.01 98.12% 2,814,576.99 0.44% 657,063,453.71 98.2% 2,921,815.31 0.44%
Accounts with single
significant amount and
5,205,528.70 0.81% 5,205,528.70 100% 5,103,395.48 0.76% 5,103,395.48 100%
bad debts provision
accrued individually
14,940,081.8
Total 646,006,961.82 -- -- 669,086,825.30 -- 14,945,186.90 --
0
Explanation on types of accounts receivable:
Account receivable with single significant amount and withdrawal bad debt provision separately at period-end
√ Applicable □ Non-applicable
In RMB
Accrual
Account receivable Book balance Bad debt reserve Reasons
proportion (%)
Liuzhou Special Diesel Plant 1,612,018.00 1,612,018.00 100% The account was too old to collect
Shaoyang Shenfeng Power
1,589,871.23 1,589,871.23 100% Old account, uncollectible after lawsuit
Manufacture Co., ltd
Changchai Wanzhou Diesel Co., ltd 1,500,000.00 1,500,000.00 100% The account was too old to collect
Yuejin Light-Vehicle Co., Ltd. 1,218,086.88 1,218,086.88 100% The account was too old to collect
Henan Agricultural Machinery
1,000,000.00 1,000,000.00 100% Old account, uncollectible after lawsuit
Company
Total 6,919,976.11 6,919,976.11 -- --
In combination, counting and drawing accounts receivable of bad debt reserves by adopting aging of accounts
√ Applicable □ Non-applicable
In RMB
Amount at period-end Amount at period-begin
Book balance Book balance
Age
Proportio Bad debt reserve Proportion Bad debt reserve
Amount Amount
n (%) (%)
within 1 year
Including: -- -- -- -- -- --
Within 6 months 628,793,786.82 99.2% 365,426,500.42 98.55%
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6 months to 1 year 2,231,994.63 0.35% 223,199.46 2,543,272.70 0.69% 254,327.27
Subtotal of within 1
631,025,781.45 99.55% 223,199.46 367,969,773.12 99.24% 254,327.27
year
1-2 years 173,341.68 0.03% 34,668.34 43,700.39 0.01% 8,740.08
2-3 years 209,374.48 0.03% 83,749.79 209,433.24 0.06% 83,773.30
Over 3 years 2,472,959.40 0.39% 2,472,959.40 2,574,974.66 0.69% 2,574,974.66
Total 633,881,457.01 -- 2,814,576.99 370,797,881.41 -- 2,921,815.31
Account receivables provided for bad debt reserve under balance percentage method in the groups:
□applicable √not-applicable
Account receivables provided for bad debt reserve under other method in the groups:
□applicable √not-applicable
Accounts with single significant amount and bad debts provision accrued individually at period-end
√ Applicable □ Non-applicable
In RMB
Book Bad debt Accrual
Account receivable Reasons
balance reserve proportion (%)
Hubei Duoling Power Machinery Co., Ltd 775,624.61 775,624.61 100% The account was too old to collect
Henan Xinxiang Internal Combustion Engine Plan 753,754.25 753,754.25 100% The account was too old to collect
Yunnan Jinma Diesel General Plan 579,210.11 579,210.11 100% The account was too old to collect
Dongfeng Nanchong Automobile Co., Ltd 569,974.38 569,974.38 100% The account was too old to collect
Guangxi Liuzhou Zhongxin Engine Co., Ltd 474,895.94 474,895.94 100% The account was too old to collect
Zhejiang Agriculture Machinery Accessory Co.,
457,800.00 457,800.00 100% The account was too old to collect
Ltd
Changchai Group Jintan Diesel General Plant 375,035.52 375,035.52 100% The account was too old to collect
Fujian Longma Agriculture-Vehicle Manufacture
365,169.92 365,169.92 100% The account was too old to collect
Co., Ltd
Other clients 854,063.97 854,063.97 100% The account was too old to collect
Total 5,205,528.70 5,205,528.70 -- --
(2) Accounts receivable switched back or taken back during the report period
(3) Accounts receivable should be cancelled after verification during the report period
(4) Account receivables due from the shareholders holding 5% or above voting shares of the Company
during the reporting period
(5) Properties and contents of other accounts receivable with large amount
(6) Top 5 account receivable
In RMB
Relationship with Proportion in total
Name of the company Amount Terms
the Company account receivables (%)
Client 1 Client 109,128,654.20 within 1 year 16.89%
Client 2 Client 79,078,296.10 within 1 year 12.24%
Client 3 Client 74,905,993.67 within 1 year 11.6%
Weifu Chang’an Subsidiary 63,958,053.02 within 1 year 9.9%
Bosch Automobile Diesel System Associated company 53,621,009.47 within 1 year 8.3%
Total -- 380,692,006.46 -- 58.93%
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
(7) Account receivables due from related parties
In RMB
Proportion in total account
Name of the company Relationship with the Company Amount
receivables (%)
Weifu Chang’an Subsidiary 63,958,053.02 9.9%
Bosch Automobile Diesel System Associated company 53,621,009.47 8.3%
Weifu Mashan Subsidiary 22,482,106.13 3.48%
Weifu Tianshi Subsidiary 14,300,788.77 2.21%
Kunming Xitong Subsidiary 9,421,266.66 1.46%
Weifu Jialin Subsidiary 6,300,972.44 0.98%
Total -- 170,084,196.49 26.33%
(8) Transferring amount is 0 Yuan for accounts receivable not conforming to terminate the confirmation.
(9) It is required to introduce the relevant transaction arrangement for asset securitization taking accounts
receivables as the standard
2. Other accounts receivable
(1) Other accounts receivable
In RMB
Amount at period-end Amount at period-begin
Book balance Bad debt reserve Book balance Bad debt reserve
Type Propo Propo
Proportio Proport
Amount Amount rtion Amount Amount rtion
n (%) ion (%)
(%) (%)
Other receivable with single
significant amount and
2,000,000.00 4.71% 2,000,000.00 100% 2,000,000.00 7.15% 2,000,000.00 100%
withdrawal bad debt provision
separately
Other receivable of bad debt provision withdrawal by combination
Age combination 2,292,568.55 5.4% 25,724.84 1.12% 1,628,348.19 5.82% 46,924.84 2.88%
Subsidiary combination 35,732,968.13 84.23% 21,927,747.27 78.44%
Subtotal of group 38,025,536.68 89.63% 25,724.84 0.07% 23,556,095.46 84.26% 46,924.84 0.2%
Other receivable with single
minor amount while withdrawal 2,400,000.00 5.66% 2,400,000.00 100% 2,400,000.00 8.59% 2,400,000.00 100%
bad debt provision separately
Total 42,425,536.68 -- 4,425,724.84 -- 27,956,095.46 -- 4,446,924.84 --
Explanation for category of other receivables:
Other receivable with single significant amount and withdrawal bad debt provision separately at period-end
√ Applicable □ Non-applicable
In RMB
Other receivables Book balance Bad debt amount Accrual proportion (%) Reasons
Jiangsu Techniques and The account was too old
2,000,000.00 2,000,000.00 100%
Technology Center to collect
Total 2,000,000.00 2,000,000.00 -- --
Other receivable provided for bad debt reserve under aging analysis method in the groups:
√ Applicable □ Non-applicable
In RMB
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Amount at period-end Amount at period-begin
Book balance Book balance
Age Bad debt
Proportion Proportion Bad debt reserve
Amount reserve Amount
(%) (%)
within 1 year
Including: -- -- -- -- -- --
Within 6 months 1,954,420.26 85.25% 1,296,724.00 79.64%
6 months to 1 year 209,524.00 9.14% 200,000.00 12.28% 20,000.00
Subtotal of within 1 year 2,163,944.26 94.39% 1,496,724.00 91.92% 20,000.00
1-2 years 128,624.29 5.61% 25,724.84 128,624.19 7.9% 25,724.84
2-3 years 3,000.00 0.18% 1,200.00
Total 2,292,568.55 -- 25,724.84 1,628,348.19 -- 46,924.84
Other receivables provided for bad debt reserve under balance percentage method in the groups:
□applicable √not-applicable
Other receivables provided for bad debt reserve under other method in the groups:
□applicable √not-applicable
Other receivable with single minor amount while withdrawal bad debt provision separately at period-end
√ Applicable □ Non-applicable
In RMB
Bad debt Accrual
Other receivables Book balance Reasons
reserve proportion (%)
Nanjing University 600,000.00 600,000.00 100% The account was too old to collect
Southeast University 600,000.00 600,000.00 100% The account was too old to collect
Nanjing University of Science and Technology 600,000.00 600,000.00 100% The account was too old to collect
Nanjing University of Technology 600,000.00 600,000.00 100% The account was too old to collect
Total 2,400,000.00 2,400,000.00 -- --
(2) Other accounts receivable switched back or taken back during the report period
(3) Other accounts receivable should be cancelled after verification during the report period
(4) Other receivables due from the shareholders holding 5% or above voting shares of the Company during
the reporting period
(5) Nature or content of other receivables with significant amount
(6) Top 5 other receivable
In RMB
Relationship with the Proportion in total other
Name of the company Amount Terms
Company account receivables (%)
Weifu Schmidt Subsidiary 35,732,968.13 within 1 year 84.23%
Jiangsu Techniques and Technology Center Non-related party 2,000,000.00 Over 3 years 4.71%
Nanjing University Non-related party 600,000.00 Over 3 years 1.41%
Southeast University Non-related party 600,000.00 Over 3 years 1.41%
Nanjing University of Science and
Non-related party 600,000.00 Over 3 years 1.41%
Technology
Nanjing University of Technology Non-related party 600,000.00 Over 3 years 1.41%
Total -- 40,132,968.13 -- 94.58%
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(7)Other receivables due from related parties
In RMB
Proportion in total other account
Name of the company Relationship with the Company Amount
receivables (%)
Weifu Schmidt Subsidiary 35,732,968.13 84.23%
Total -- 35,732,968.13 84.23%
(8) Transferring amount is 0 Yuan for other accounts receivable not conforming to terminate the
confirmation.
(9) It is required to introduce the relevant transaction arrangement for asset securitization taking other
accounts receivables as the standard
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3. Long-term equity investment
In RMB
Description of
Counting
inconformity
Share and
Vote of share
Calculat Increase and holding drawing
Balance at Balance at percentage holding Provision Cash dividends at
Invested units ing decrease percentage impairment
investment costs period-begin period-end in invested percentage and reserve the current period
methods changes in invested reserves at
units (%) vote
units (%) the current
percentage in
period
invested units
Weifu Jinning Cost 178,639,593.52 178,639,593.52 178,639,593.52 80% 80% 93,949,002.07
Weifu Leader Cost 460,113,855.00 460,113,855.00 460,113,855.00 94.81% 94.81%
Weifu Nano Cost 24,000,000.00 24,000,000.00 24,000,000.00 80% 80% 1,500,000.00
Weifu Diesel
Cost 260,187,500.00 260,187,500.00 260,187,500.00 100% 100% 117,672,378.25
System
Weifu Mashan Cost 48,693,380.51 48,693,380.51 48,693,380.51 100% 100%
Weifu
Cost 70,902,037.30 70,902,037.30 70,902,037.30 100% 100%
Chang’an
Weifu
International Cost 30,999,996.22 30,999,996.22 30,999,996.22 95% 95% 2,497,947.74
Trade
Weifu ITM Cost 167,000,000.00 167,000,000.00 167,000,000.00 100% 100%
Weifu Schmidt Cost 8,100,000.00 8,100,000.00 8,100,000.00 45% 45%
Weifu Tianli Cost 90,229,100.00 90,229,100.00 90,229,100.00 51% 51%
Weifu Jialin Cost 4,685,868.73 4,685,868.73 4,685,868.73 51% 51%
Kunming
Cost 5,471,793.17 5,471,793.17 5,471,793.17 70% 70%
Xitong
Weifu Tianshi Cost 5,200,000.00 5,200,000.00 5,200,000.00 52% 52%
Weifu
Cost 39,243,774.00 66,604,790.02 10,480,193.38 77,084,983.40 51% 51%
Autocam
Bosch
Automobile Equity 867,509,767.37 1,329,363,084.03 144,187,591.01 1,473,550,675.04 32.5% 32.5%
Diesel System
CNEMS Equity 120,124,000.00 375,291,329.83 89,664,088.66 464,955,418.49 20% 20%
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Wuxi Weifu
Instrument
Equity 2,000,000.00 33,948,438.79 5,016,036.48 38,964,475.27 20% 20%
Making Co.,
Ltd.
Guolian
Securities Co., Cost 12,000,000.00 12,000,000.00 12,000,000.00 1.2% 1.2% 360,000.00
Ltd.
Guangxi Liufa
Cost 1,600,000.00 1,600,000.00 1,600,000.00 1.22% 1.22% 1,600,000.00
Co., Ltd.
Financial
Company of
Changchai Cost 800,000.00 800,000.00 800,000.00 800,000.00
Group Co.,
Ltd.
H&J Vanguard
Investment Cost 33,000,000.00 33,000,000.00 33,000,000.00 11.72% 11.72% 33,000,000.00
Co., Ltd.
Nanjing
Hengtai
Insurance and Cost 1,000,000.00 1,000,000.00 1,000,000.00 1.85% 1.85% 1,000,000.00
Broker Co.,
Ltd.
Yangdong Co.,
Cost 2,355,900.00 2,355,900.00 2,355,900.00 2,355,900.00
Ltd.
Wuxi Xidong
Technological
Cost 5,000,000.00 5,000,000.00 5,000,000.00 1.43% 1.43%
Industry Park
Co., Ltd.
Total -- 2,438,856,565.82 3,215,186,667.12 249,347,909.53 3,464,534,576.65 -- -- -- 40,255,900.00 214,479,328.06
Explanation on long-term equity investment
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4. Operating income and cost
(1) Operating income
In RMB
Item Amount of this period Amount of last period
Main operating income 1,090,313,785.56 993,599,313.59
Other operating income 180,572,643.07 154,616,691.60
Total 1,270,886,428.63 1,148,216,005.19
Operating cost 1,083,696,285.15 939,317,265.51
(2) Main business (by industry)
In RMB
Amount of this period Amount of last period
Industry
Operating income Operating cost Operating income Operating cost
Automobile parts 1,090,313,785.56 910,480,693.26 993,599,313.59 791,876,975.87
Total 1,090,313,785.56 910,480,693.26 993,599,313.59 791,876,975.87
(3) Main business (by product)
In RMB
Amount of this period Amount of last period
Product
Operating income Operating cost Operating income Operating cost
Auto fuel injection system 1,090,313,785.56 910,480,693.26 993,599,313.59 791,876,975.87
Total 1,090,313,785.56 910,480,693.26 993,599,313.59 791,876,975.87
(4) Main business (by districts)
In RMB
Amount of this period Amount of last period
Districts
Operating income Operating cost Operating income Operating cost
Domestic sales 1,090,313,785.56 910,480,693.26 993,599,313.59 791,876,975.87
Total 1,090,313,785.56 910,480,693.26 993,599,313.59 791,876,975.87
(5) The operating income of the top five customers of the Company
In RMB
The percentage in all operating income of
Customer name Primary business income
the Company (%)
Client 1 130,130,395.16 10.24%
Client 2 114,229,950.43 8.99%
Client 3 110,847,337.61 8.72%
Bosch Automobile Diesel System 102,913,167.03 8.1%
Client 5 62,904,674.02 4.95%
Total 521,025,524.25 41%
Explanation on operating income
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5. Investment income
(1) Particulars about investment income
In RMB
Item Amount of this period Amount of last period
Income of long-term equity investment calculated based on cost 214,479,328.06 258,525,101.62
Income of long-term equity investment calculated based on equity 247,946,222.53 137,803,640.43
Investment income obtained from held-to-maturity investment 25,157,496.58
Investment income obtained from financial assets available for sale etc. 740,000.00
Total 487,583,047.17 397,068,742.05
(2) Income of long-term equity investment calculated based on cost
In RMB
Amount of this Amount of last
Company Reasons of change (+,-)
period period
Weifu Diesel System 117,672,378.25 159,929,783.21 Achieved profit in 2012 and has bonus for the year
Weifu Jinning 93,949,002.07 98,595,318.41 Achieved profit in 2012 and has bonus for the year
Weifu International Trade 2,497,947.74 Achieved profit in 2012 and has bonus for the year
Guolian Securities Co., Ltd. 360,000.00 Achieved profit in 2012 and has bonus for the year
Total 214,479,328.06 258,525,101.62 --
(3) Income of long-term equity investment calculated based on equity
In RMB
Amount of this Amount of last
Company Reasons for changes (+,-)
period period
Profit growth in this period due to
Bosch Automobile Diesel System 144,187,591.01 64,879,599.38
influence from auto industry
Profit growth in this period due to
CNEMS 89,664,088.66 64,043,395.79
influence from auto industry
Profit growth in this period due to
Wuxi Weifu Autocam Fine Machinery Co. Ltd. 9,078,506.38 5,867,407.16
influence from auto industry
Profit growth in this period due to
Wuxi Weifu Instrument Making Co., Ltd. 5,016,036.48 3,013,238.10
influence from auto industry
Total 247,946,222.53 137,803,640.43 --
Explanation on investment income:
6. Supplementary information of cash flow statement
In RMB
Supplementary information Amount in this period Amount in last period
1. Adjust the net profits to be cash flow for operating activities -- --
Net profits 529,454,293.00 456,927,355.95
Add: assets impairment preparation 129,551.83 875,853.27
fixed assets depreciation, oil-and-gas assets loss , productive living beings
35,820,064.18 35,326,220.82
depreciation
Intangible assets amortization 1,967,691.84 1,967,691.85
losses from handling fixed assets, intangible assets and assets(profits fill with 48,919.73 227,077.17
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―-― )
Financial costs(profits fill with ―-― ) 3,780,000.00 5,784,955.56
Investment losses(profits fill with ―-―) -487,583,047.17 -397,068,742.05
Deferred income tax assets decrease(increases fill with ―-― ) -2,559,640.23 -75,226.30
Stock decreases(increases fill with ―-― ) 5,597,885.83 69,007,232.15
Operating receivables decrease(increases fill with ―-― ) -64,794,249.69 -222,038,705.84
Operating payables increase(decreases fill with ―-― ) 431,942,158.75 90,002,411.96
Net cash flow generated by operating activities 453,803,628.07 40,936,124.54
2. Significant investment financial activities not involving and cash deposit and
-- --
withdrawal
3. Net changes of cash and cash equivalents -- --
Ending balance of cash 1,530,176,246.40 2,277,349,549.16
Decrease: opening balance of cash equivalents 1,524,564,526.97 132,135,416.49
Net increase of cash and cash equivalents 5,611,719.43 2,145,214,132.67
7. Assets and liabilities enter into the account book with assessed value by counter purchase
XVI. Supplementary Information
1. ROE and earnings per share
In RMB
Item Amount Note
Gains/losses from the disposal of non-current asset (including the write-off that accrued for
-443,140.30
impairment of assets)
Governmental subsidy reckoned into current gains/losses (not including the subsidy enjoyed in quota
195,025.00
or ration according to national standards, which are closely relevant to enterprise’s business)
Profit and loss of assets delegation on others’ investment or management 25,157,496.58
Other non-operating income and expenditure except for the aforementioned items 511,127.14
Less: Impact on income tax 3,896,369.83
Impact on minority shareholders’ equity (post-tax) -337,141.40
Total 21,861,279.99 --
Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Extraordinary Profit/loss, explain reasons
□applicable √not-applicable
2. Difference of the accounting data under accounting rules in and out of China
(1) Difference of the net profit and net assets disclosed in financial report, under both IAS (International
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles)
In RMB
Net profit attributable to shareholders of listed Net assets attributable to shareholders of listed
company company
Amount at
Amount in this period Amount in last period Amount at period-end
period-begin
Chinese GAAP 531,953,834.22 446,281,174.98 9,049,683,965.96 8,655,980,755.24
Items and amount adjusted by IAS
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(2) Difference of the net profit and net assets disclosed in financial report, under both foreign accounting
rules and Chinese GAAP (Generally Accepted Accounting Principles)
In RMB
Net profit attributable to shareholders of listed Net assets attributable to shareholders of listed
company company
Amount at
Amount in this period Amount in last period Amount at period-end
period-begin
Chinese GAAP 531,953,834.22 446,281,174.98 9,049,683,965.96 8,655,980,755.24
Items and amount adjusted by foreign accounting rules
(3) Reasons for the differences of accounting data under accounting rules in and out of China
3. ROE and EPS
In RMB
EPS
Profit in the Period Weighted average ROE (%)
Basic EPS Diluted EPS
Net profit attributable to common shareholders of the
5.94% 0.78 0.78
Company
Net profit attributable to common shareholders of the
5.7% 0.75 0.75
Company after deducting non-recurring gains/losses
4. Abnormalities and reasons of the accounting statement items of the Company
(1) Note receivable
Amount at period-end increase RMB 272.5592 million over that of year-begin, mainly because sales volume
in first half year growth;
(2) Account receivable
Amount at period-end increase RMB 401.0264 million over that of year-begin, mainly because sales volume
in first half year growth and the returned money still before the credit period;
(3) Interest receivable
Amount at period-end decrease RMB 12.7142 million over that of year-begin, mainly because bank interrst
was taken back by the Company;
(4) Other account receivable
Amount at period-end increase RMB 6.5349 million over that of year-begin, mainly because Weifu Autocam
included in the consoldiation statement in the Period;
(5) Other current assets
Amount at period-end increase RMB 534.2632 million over that of year-begin, mainly because more bank
financial products purchased in the Period by the Company;
(6) Financial assets available for sales
Amount at period-end increase RMB 146.731 million over that of year-begin, mainly because private
placement of Miracle Logistics were subscribed in the period;
(7) Held-to-maturity investment
Amount at period-end increase RMB 199 million over that of year-begin, mainly because more bank financial
products purchased in the Period by the Company;
(8) Short-term loans
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无锡威孚高科技集团股份有限公司 2013 半年度报告全文
Amount at period-end increase RMB 343 million over that of year-begin, mainly because more bank loans
from subsidiaries;
(9) Note receivable
Amount at period-end increase RMB 215.1594 million over that of year-begin, mainly because settlement
business for note payable increased;
(10) Taxes payable
Amount at period-end increase RMB 18.0638 million over that of year-begin, mainly because being suffered
from the market, VAT payable increased at period-end;
(11) Other current liability
Amount at period-end increase RMB 15.0443 million over that of year-begin, mainly because vary expenses
payable increased;
(12) Deferred income tax liability
Amount at period-end increase RMB 11.5544 million over that of year-begin, mainly because at end of the
period, the Company recognized deferred income tax liability based on the variation of fair value of financial
assets avialabel for sale;
(13) Financial expenses
Amount at period-end decreased RMB 14.7028 million from a year ago, mainly because the interest income
increased;
(14) Assets impairment loss
Amount at period-end decreased RMB 1.9838 million from a year ago, mainly because vary impairment
provision decreased;
(15) Investment income
Amount at period-end increased RMB 139.0031 million from a year ago, mainly because enterprise with
share participated by the Company gains a more profit and the financing income increased;
(16) Non-operation income
Amount at period-end decreased RMB 1.986 million from a year ago, mainly because the income from
disposal of fixed assets and government grants decreased;
(17) Non-opertion expenses
Amount at period-end increased RMB 1.7414 million from a year ago, mainly because losses from disposal
of fixed assets increased;
(18) Net cash flow arising from investment activities
Amount at period-end increased RMB 299.0527 million from a year ago, mainly because invetment for bank
financing products increased;
(19) Net cash flow arising from financing activities
Amount at period-end decreased RMB 2043.4454 million from a year ago, mainly because the Company has
private placement at same period of last yera.
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Section IX. Documents available for reference
I. Semi-annual reports with the Chairman’s own signature;
II. Financial statement with signature and seal of legal representative, person in charge of financial
works and accountant officer;
III. The original manuscripts of all documents and announcements of the Company publicly
disclosed on China Securities Journal, Securities Times, Hong Kong Commercial Daily and Juchao
Website
Board of Directors of
Weifu High-Technology Group Co., Ltd.
27 August 2013
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