Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2014 Full Text
Bengang Steel Plates Co., Ltd.
The 1st Quarterly Report 2014
April 2014
1
Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2014 Full Text
Chapter I. Important Statement
The Board of Directors and the directors of the Company guarantee that there are no significant omissions,
fictitious or misleading statements carried in the Report and we will accept individual and joint responsibilities for
the truthfulness, accuracy and completeness of the Report.
All of the directors presented the board meeting at which this Quarterly Report was examined.
Chairman of the Board – Wang Shu, Chief Financial Officer – Hange, and Head of Accounting Dept.– Mr. Wang
Shaoyu, hereby declare: the authenticity, accuracy, and integrality of the report are guaranteed.
This report is available in both Chinese and English versions. When there should be any conflict in interpreting
between the two versions, the Chinese version shall prevail.
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2014 Full Text
Chapter II. Financial Highlights and Change of Shareholders
I. Main accounting data and indices
Are there any retrospective adjustment or restatement of financial information of previous year due to change of accounting policies
or correcting of accounting errors?
[V] Yes[] No
Increase/decrease
Same period last year
This report term (%)
Not adjusted Adjusted Adjusted
Turnover (RMB) 9,705,291,532.93 11,164,968,781.08 10,329,621,315.63 -6.04%
Net profit attributable to shareholders of the listed
115,963,695.53 102,861,884.34 106,906,185.56 8.47%
company (yuan)
Net profit attributable to the shareholders of the
listed company and after deducting of non-recurring 106,695,151.16 92,877,223.31 97,765,421.51 9.13%
gain/loss(RMB)
Net Cash flow generated by business operation
-1,262,035,328.12 -653,089,936.96 748,728,865.44 -268.56%
(RMB)
Basic earnings per share (Yuan/share) 0.037 0.033 0.034 8.82%
Diluted earnings per share (Yuan/share) 0.037 0.033 0.034 8.82%
Weighted average net
0.75% 0.67% 0.68% 0.07%
income/asset ratio (%)
Ended this report End of prev. year Changed by %
term Not adjusted Adjusted Adjusted
Gross Assets (RMB) 44,140,553,166.99 42,899,450,665.72 43,050,307,324.66 2.53%
Net asset attributable to owners of the PLC 15,428,472,791.88 15,308,337,697.63 15,308,337,697.63 0.78%
Non-recurring gain/loss items and amounts
[V] Applicable [] Not applicable
In RMB Yuan
Amount of the period from the
Items beginning of year to the end of Remarks
report term
Gain/loss from disposal of non-current assets (includes the recovered part of asset
1,834,698.29
impairment provision already provided)
Gains and losses included in the current period of government subsidies, excluding those
government grants which are closely related to normal business and in line with national 900,000.00
policy , or in accordance with fixed standards or quantities
Gain/loss from non-monetary assets 6,923,301.36
Gain/loss from debt reorganization 2,437,585.98
Other non-business income and expenditures other than the above 341,726.64
Less: Influenced amount of income tax 3,109,328.07
Influence on minority shareholders quity (after tax) 59,439.83
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2014 Full Text
Total 9,268,544.37 --
If the company defines those items to recurring gain/loss items, which were defined by “Regulations of Information Disclosure of
PLCs, Explanation No.1 - Non-recurring gain/loss” as non-recurring gain/loss, please provide reason here.
[] Applicable; [V] Not applicable
II. Total of shareholders and top-10 holders of current shares at end of period
In shares
Total shareholders at the end of the report period 54,900
Top 10 Shareholders
Amount of Frozen or pledged
Properties of Share
Name of the shareholder Amount of shares unconditional shares
shareholder proportion (%) Status of shares Amount
held
State-owned
Benxi Steel (Group) Ltd. 82.07% 2,573,632,420
legal person
Overseas legal
GIC PRIVATE LIMITED 0.83% 26,055,632
person
GSIC A/C MONETARY Overseas legal
0.32% 10,179,400
AUTHORITY OF SINGAPORE person
BBH A/C VANGUARD EMERGING Overseas legal
0.26% 8,157,311
MARKETS STOCK INDEX FUND person
HSBC BROKING SECURITIES Overseas legal
0.11% 3,535,800
(ASIA) LIMITED-CLIENTS A/C person
Overseas
SEUNG YEOL PARK 0.11% 3,434,495
natural person
LSV EMERGING MARKETS Overseas legal
0.11% 3,385,700
EQUITY FUND,L.P. person
Domestic
Bao Xinfa 0.1% 3,202,204
natural person
Taifook Securities Company Overseas legal
0.1% 3,136,109
Limited-Account Client person
Wukuang Intl Trust Co., Ltd. –
Wukuang Trust – Zhongyuan Huiying Others 0.07% 2,217,522
Securities Investment Trust Program
Top 10 holders of unconditional shares
Category of shares
Name of the shareholder Amount of shares without trade limited conditions
Category of shares Amount
Benxi Steel (Group) Ltd. 2,573,632,420 RMB common shares 2,573,632,420
Foreign shares placed
GIC PRIVATE LIMITED 26,055,632 26,055,632
in domestic exchange
GSIC A/C MONETARY AUTHORITY OF Foreign shares placed
10,179,400 10,179,400
SINGAPORE in domestic exchange
BBH A/C VANGUARD EMERGING MARKETS Foreign shares placed
8,157,311 8,157,311
STOCK INDEX FUND in domestic exchange
HSBC BROKING SECURITIES (ASIA) Foreign shares placed
3,535,800 3,535,800
LIMITED-CLIENTS A/C in domestic exchange
Foreign shares placed
SEUNG YEOL PARK 3,434,495 3,434,495
in domestic exchange
Foreign shares placed
LSV EMERGING MARKETS EQUITY FUND,L.P. 3,385,700 3,385,700
in domestic exchange
Foreign shares placed
Bao Xinfa 3,202,204 3,202,204
in domestic exchange
Foreign shares placed
Taifook Securities Company Limited-Account Client 3,136,109 3,136,109
in domestic exchange
Wukuang Intl Trust Co., Ltd. – Wukuang Trust –
Zhongyuan Huiying Securities Investment Trust 2,217,522 RMB common shares 2,217,522
Program
It is unknown to the Company whether there is any related connection or Action in Concert as
Notes to relationship or “action in concert” among
described by Rules of Information Disclosing Regarding Changing of Shareholding Status of Listed
the top ten shareholders. Companies existing among the above shareholders.
Was there any agreed repurchasing trade by shareholders in the report period
[] Yes [V] No
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2014 Full Text
Chapter III. Significant Issues
I. Particulars and causations of material change in major accounting items and indices
* Major items in the consolidated statements which have changed by over 30% from the end of 2013
Rate of
I. Balance Sheet Items change Cause of change
Notes receivable 60% Increase of notes receivable received in the period
Cashing of all bank financing instruments
Other current asset -53% purchased in the period
Increase of un-delivered engineering goods
Engineering goods 72% purchased in the period
Notes payable 175% Increase of payable bill financing in the period
Tax payable -54% Decrease of VAT payable
Increase of repayment of long-term loans due in 1
Non-current liability due in 1 year -40% year
Decrease of safety expense provision drawn in the
Special reserves 1977% period
* Items changed by over 30% on Jan-Mar 2013 in the consolidated
financial statement
Rate of
II. Income Statement Items change Cause of change
Business tax and surcharge -79% Decrease of VAT payable
Increase of bank financing instruments purchased
Investment income 2453% this period
Non-operational income
-59% Decrease of gains from debt reconstitution
Income tax expenses
-66% Decrease of profit by subsidiaries
Minor shareholders’ equity 226% Increase of profit by holding subsidiaries
Rate of
III. Cash Flow Statement change Cause of change
Tax returned
-97% Decrease of tax refund
Taxes paid
-67% Decrease of tax, e.g. VAT, paid this period
Cash received from investment retrieving Increase of bank financing instruments purchased
1285% this period
Cash received as investment profit Increase of bank financing instruments purchased
2453% this period
Cash paid as investment Increase of bank financing instruments purchased
1020% this period
Cash to repay debts
-43% Decrease of bank loans repaid this period
II. Analyze of significant issues and solutions
On January 26, 2014, as approved by the 5th meeting of the 6th term of Board, the Company was about to issue corporation bond up
to RMB3 billion (included) to the public. This proposal was approved at the 1 st shareholders provisional meeting of 2014. It was
submitted to related authorities for verification.
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2014 Full Text
Summary of material issues Date of disclosure Index of provisional announcement
Approved by the provisional shareholders
meeting, and is filed to the authorities for Feb 19, 2014 http//www.cninfo.com.cn
verification currently
III. Business prospect for Jan-Jun 2014
Alert of loss or significant change in net profit from the beginning of year to the end of next report period or comparing with the
same period of last year, and statement of causations.
[] Applicable; [V] Not applicable
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2014 Full Text
Chapter IV. Financial Statements
I. Financial Statements
1. Consolidated Balance Sheet
Bengang Steel Plate Co., Ltd.
In RMB Yuan
Items Closing balance Opening balance
Current asset:
Monetary capital 4,349,177,238.63 4,574,532,598.83
Settlement provision
Outgoing call loan
Transactional financial assets
Notes receivable 3,891,238,881.43 2,433,550,653.99
Account receivable 394,319,846.01 354,770,643.94
Prepayment 1,067,543,984.51 1,057,057,803.49
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts receivable
Interest receivable
Dividend receivable
Other account receivable 206,283,851.71 187,896,130.26
Repurchasing of financial assets
Inventories 12,226,170,514.60 11,607,047,545.14
Non-current asset due in 1 year
Other current asset 401,639,119.97 863,068,482.67
Total of current asset 22,536,373,436.86 21,077,923,858.32
Non-current assets
Disburse of consigned loans
Sellable financial asset
Expired investment in possess
Long-term receivable
Long-term share equity investment 20,271,278.63 20,271,278.63
Investment real estates
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2014 Full Text
Fixed assets 18,012,488,949.13 18,574,585,898.20
Construction in process 3,261,774,313.58 3,072,825,789.22
Engineering goods 13,424,214.33 7,821,295.85
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 111,433,932.55 112,092,162.53
R&D expense
Goodwill
Long-term amortizable expenses
Deferred income tax asset 184,787,041.91 184,787,041.91
Other non-current asset
Total of non-current assets 21,604,179,730.13 21,972,383,466.34
Total of assets 44,140,553,166.99 43,050,307,324.66
Current liabilities
Short-term loans 15,756,023,596.91 14,242,610,696.91
Loan from Central Bank
Deposit received and hold for others
Call loan received
Transactional financial liabilities
Notes payable 421,818,530.85 153,175,292.90
Account payable 6,609,730,561.60 7,440,328,267.35
Advances received 3,169,563,605.80 2,665,468,224.81
Selling of repurchased financial assets
Fees and commissions receivable
Employees’ wage payable 82,139,685.63 84,786,965.55
Tax payable 13,373,918.49 29,240,548.05
Interest payable 23,933,718.43 24,854,193.88
Dividend payable
Other account payable 442,690,216.96 485,579,109.34
Reinsurance fee payable
Insurance contract provision
Entrusted trading of securities
Entrusted selling of securities
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2014 Full Text
Non-current liability due in 1 year 699,200,989.99 1,163,814,681.99
Other current liability
Total of current liability 27,218,474,824.66 26,289,857,980.78
Non-current liabilities
Long-term borrowings 772,918,776.28 745,666,892.70
Bond payable
Long-term payable
Special payable
Expected liabilities
Deferred income tax liability
Other non-recurring liabilities 348,626,224.00 336,216,224.00
Total of non-current liabilities 1,121,545,000.28 1,081,883,116.70
Total of liability 28,340,019,824.94 27,371,741,097.48
Owners’ equity (or shareholders’ equity)
Capital paid in (or share capital) 3,136,000,000.00 3,136,000,000.00
Capital reserves 9,114,845,542.05 9,114,845,542.05
Less: Shares in stock
Special reserves 4,382,371.40 210,972.68
Surplus reserves 956,694,103.74 956,694,103.74
Common risk provision
Retained profit 2,216,550,774.69 2,100,587,079.16
Different of foreign currency translation
Total of owner’s equity belong to the parent company 15,428,472,791.88 15,308,337,697.63
Minor shareholders’ equity 372,060,550.17 370,228,529.55
Total of owners equity (or shareholders equity) 15,800,533,342.05 15,678,566,227.18
Total of liability and shareholders equity (or owners equity) 44,140,553,166.99 43,050,307,324.66
Legal representative: Wang Shu CFO: Han Ge Accounting Manager: Wang Shaoyu
2. Balance Sheet of the Parent Company
Bengang Steel Plate Co., Ltd.
In RMB Yuan
Items Closing balance Opening balance
Current asset:
Monetary capital 3,963,883,808.15 4,304,424,513.46
Transactional financial assets
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2014 Full Text
Notes receivable 3,583,876,741.36 2,287,026,533.02
Account receivable 686,573,414.02 651,280,698.09
Prepayment 974,247,599.32 963,761,418.30
Interest receivable
Dividend receivable
Other account receivable 311,222,846.97 261,165,598.02
Inventories 10,405,749,658.42 9,885,156,126.53
Non-current asset due in 1 year
Other current asset 316,172,562.66 806,197,784.04
Total of current asset 20,241,726,630.90 19,159,012,671.46
Non-current assets
Sellable financial asset
Expired investment in possess
Long-term receivable
Long-term share equity investment 1,709,285,575.16 1,709,285,575.16
Investment real estates
Fixed assets 14,763,763,422.48 15,229,658,352.73
Construction in process 3,228,441,667.08 3,044,697,564.93
Engineering goods 13,424,214.33 7,821,295.85
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets
R&D expense
Goodwill
Long-term amortizable expenses
Deferred income tax asset 87,312,493.14 87,312,493.14
Other non-current asset
Total of non-current assets 19,802,227,372.19 20,078,775,281.81
Total of assets 40,043,954,003.09 39,237,787,953.27
Current liabilities
Short-term loans 13,285,007,000.00 12,264,551,200.00
Transactional financial liabilities 0.00 0.00
Notes payable 384,768,530.85 144,994,492.90
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2014 Full Text
Account payable 7,250,183,245.82 7,570,742,890.27
Advances received 2,151,259,471.52 1,985,709,079.59
Employees’ wage payable 79,604,615.76 82,156,107.48
Tax payable 966,116.79 5,633,746.17
Interest payable 2,748,373.03 4,008,373.03
Dividend payable 0.00 0.00
Other account payable 342,009,695.05 297,207,569.77
Non-current liability due in 1 year 686,750,989.99 1,138,914,681.99
Other current liability 0.00 0.00
Total of current liability 24,183,298,038.81 23,493,918,141.20
Non-current liabilities
Long-term borrowings 502,368,776.28 487,566,892.70
Bond payable 0.00 0.00
Long-term payable 0.00 0.00
Special payable 0.00 0.00
Expected liabilities 0.00 0.00
Deferred income tax liability 0.00 0.00
Other non-recurring liabilities 348,626,224.00 336,216,224.00
Total of non-current liabilities 850,995,000.28 823,783,116.70
Total of liability 25,034,293,039.09 24,317,701,257.90
Owners’ equity (or shareholders’ equity)
Capital paid in (or share capital) 3,136,000,000.00 3,136,000,000.00
Capital reserves 8,694,693,859.93 8,694,693,859.93
Less: Shares in stock 0.00 0.00
Special reserves 4,382,371.40 210,972.68
Surplus reserves 956,694,103.74 956,694,103.74
Common risk provision 0.00 0.00
Retained profit 2,217,890,628.93 2,132,487,759.02
Different of foreign currency translation
Total of owners equity (or shareholders equity) 15,009,660,964.00 14,920,086,695.37
Total of liability and shareholders equity (or owners equity) 40,043,954,003.09 39,237,787,953.27
Legal representative: Wang Shu CFO: Han Ge Accounting Manager: Wang Shaoyu
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2014 Full Text
3. Consolidated Income Statement
Bengang Steel Plate Co., Ltd.
In RMB Yuan
Amount of the Current Amount of the Previous
Items
Term Term
I. Total revenue 9,705,291,532.93 10,329,621,315.63
Incl. Business income 9,705,291,532.93 10,329,621,315.63
Interest income 0.00 0.00
Insurance fee earned 0.00 0.00
Fee and commission received 0.00 0.00
II. Total business cost 9,592,368,336.50 10,213,687,519.36
Incl. Business cost 8,846,017,381.01 9,517,355,310.66
Interest expense 0.00 0.00
Fee and commission paid 0.00 0.00
Insurance discharge payment 0.00 0.00
Net claim amount paid 0.00 0.00
Net insurance policy reserves provided 0.00 0.00
Insurance policy dividend paid 0.00 0.00
Reinsurance expenses 0.00 0.00
Business tax and surcharge 8,104,819.43 38,940,876.57
Sales expense 181,632,279.49 158,290,125.39
Administrative expense 300,767,064.62 300,777,606.45
Financial expenses 255,846,791.95 198,323,600.29
Asset impairment loss 0.00 0.00
Plus: gains from change of fair value (“-“ for loss) 0.00 0.00
Investment gains (“-“ for loss) 6,923,301.36 271,232.94
Incl. Investment gains from affiliates 0.00 0.00
Exchange gains (“-“ for loss) 0.00 0.00
III. Operational profit (“-“ for loss) 119,846,497.79 116,205,029.21
Plus: Non business income 5,514,010.91 13,312,881.37
Less: Non-business expenses 0.00 0.00
Incl. Loss from disposal of non-current assets 0.00 0.00
IV. Gross profit (“-“ for loss) 125,360,508.70 129,517,910.58
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2014 Full Text
Less: Income tax expenses 7,564,792.55 22,049,824.21
V. Net profit (“-“ for net loss) 117,795,716.15 107,468,086.37
Including: Net profit realized by the entity taken over before the
0.00 0.00
takover
Net profit attributable to the owners of parent company 115,963,695.53 106,906,185.56
Minor shareholders’ equity 1,832,020.62 561,900.81
VI. Earnings per share: -- --
(I) Basic earnings per share 0.037 0.034
(II) Diluted earnings per share 0.037 0.034
VII. Other misc. incomes 0.00 0.00
VIII. Total of misc. incomes 117,795,716.15 107,468,086.37
Total of misc. incomes attributable to the owners of the parent
115,963,695.53 106,906,185.56
company
Total misc gains attributable to the minor shareholders 1,832,020.62 561,900.81
Legal representative: Wang Shu CFO: Han Ge Accounting Manager: Wang Shaoyu
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2014 Full Text
4. Income Statement of the Parent Co.
Bengang Steel Plate Co., Ltd.
In RMB Yuan
Items Amount of the Current Term Amount of the Previous Term
I. Turnover 10,207,588,237.56 10,943,752,495.92
Less: Operation cost 9,481,537,382.98 10,322,532,219.09
Business tax and surcharge 6,250,453.87 35,255,357.49
Sales expense 147,706,703.63 116,524,717.33
Administrative expense 284,850,445.82 285,435,200.81
Financial expenses 213,071,256.16 150,796,353.73
Asset impairment loss 0.00 0.00
Plus: gains from change of fair value (“-“ for loss) 0.00 0.00
Investment gains (“-“ for loss) 6,923,301.36 0.00
Incl. Investment gains from affiliates 0.00 0.00
II. Operational profit (“-“ for loss) 81,095,296.46 33,208,647.47
Plus: Non business income 4,307,573.45 10,016,381.37
Less: Non-business expenses 0.00 0.00
Incl. Loss from disposal of non-current assets 0.00 0.00
III. Total profit (“-“ for loss) 85,402,869.91 43,225,028.84
Less: Income tax expenses 0.00 0.00
IV. Net profit (“-“ for net loss) 85,402,869.91 43,225,028.84
V. Earnings per share -- --
(I) Basic earnings per share 0 0
(II) Diluted earnings per share 0 0
VI. Other misc gains 0.00 0.00
VII. Total of integrated income 85,402,869.91 43,225,028.84
Legal representative: Wang Shu CFO: Han Ge Accounting Manager: Wang Shaoyu
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2014 Full Text
5. Consolidated Cash Flow Statement
Bengang Steel Plate Co., Ltd.
In RMB Yuan
Amount of the Current Amount of the Previous
Items
Term Term
I. Net cash flow from business operation
Cash received from sales of products and providing of services 7,095,676,511.89 9,234,421,704.32
Net increase of customer deposits and capital kept for brother company
Net increase of loans from central bank
Net increase of inter-bank loans from other financial bodies
Cash received against original insurance contract
Net cash received from reinsurance business
Net increase of client deposit and investment
Net increase of trade financial asset disposal
Cash received as interest, processing fee, and commission
Net increase of inter-bank fund received
Net increase of repurchasing business
Tax returned 850,000.00 26,449,284.11
Other cash received from business operation 73,621,580.71 72,481,858.81
Sub-total of cash inflow from business activities 7,170,148,092.60 9,333,352,847.24
Cash paid for purchasing of merchandise and services 7,720,481,609.21 7,636,560,117.75
Net increase of client trade and advance
Net increase of savings in central bank and brother company
Cash paid for original contract claim
Cash paid for interest, processing fee and commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 554,975,247.83 532,268,133.65
Taxes paid 121,871,198.65 371,553,985.69
Other cash paid for business activities 34,855,365.03 44,241,744.71
Sub-total of cash outflow from business activities 8,432,183,420.72 8,584,623,981.80
Cash flow generated by business operation, net -1,262,035,328.12 748,728,865.44
II. Cash flow generated by investing
Cash received from investment retrieving 2,770,000,000.00 200,000,000.00
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2014 Full Text
Cash received as investment profit 6,923,301.36 271,232.94
Net cash retrieved from disposal of fixed assets, intangible assets, and
107,010.00
other long-term assets
Net cash received from disposal of subsidiaries or other operational units
Other investment-related cash received
Sub-total of cash inflow due to investment activities 2,777,030,311.36 200,271,232.94
Cash paid for construction of fixed assets, intangible assets and other
500,552,100.00 397,232,117.38
long-term assets
Cash paid as investment 2,240,000,000.00 200,000,000.00
Net increase of loan against pledge
Net cash received from subsidiaries and other operational units
Other cash paid for investment activities
Sub-total of cash outflow due to investment activities 2,740,552,100.00 597,232,117.38
Net cash flow generated by investment 36,478,211.36 -396,960,884.44
III. Cash flow generated by financing
Cash received as investment
Incl. Cash received as investment from minor shareholders
Cash received as loans 3,805,243,200.00 3,704,125,800.00
Cash received from bond placing
Other financing-related cash received
Subtotal of cash inflow from financing activities 3,805,243,200.00 3,704,125,800.00
Cash to repay debts 2,755,428,292.59 4,861,909,208.41
Cash paid as dividend, profit, or interests 205,046,260.11 208,307,754.51
Incl. Dividend and profit paid by subsidiaries to minor shareholders
Other cash paid for financing activities
Subtotal of cash outflow due to financing activities 2,960,474,552.70 5,070,216,962.92
Net cash flow generated by financing 844,768,647.30 -1,366,091,162.92
IV. Influence of exchange rate alternation on cash and cash equivalents 2,079,102.30 -1,179,201.29
V. Net increase of cash and cash equivalents -378,709,367.16 -1,015,502,383.21
Plus: Balance of cash and cash equivalents at the beginning of term 4,574,532,598.83 3,816,212,299.73
VI. Balance of cash and cash equivalents at the end of term 4,195,823,231.67 2,800,709,916.52
Legal representative: Wang Shu CFO: Han Ge Accounting Manager: Wang Shaoyu
6. Cash Flow Statement of the Parent Co.
Bengang Steel Plate Co., Ltd.
In RMB Yuan
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2014 Full Text
Amount of the Current Amount of the Previous
Items
Term Term
I. Net cash flow from business operation
Cash received from sales of products and providing of services 6,558,858,248.79 7,047,523,958.69
Tax returned
Other cash received from business operation 68,133,994.31 62,772,073.62
Sub-total of cash inflow from business activities 6,626,992,243.10 7,110,296,032.31
Cash paid for purchasing of merchandise and services 6,928,852,119.62 6,870,563,817.31
Cash paid to staffs or paid for staffs 534,154,783.52 507,078,135.22
Taxes paid 82,080,457.99 326,733,018.36
Other cash paid for business activities 25,196,535.32 24,820,440.28
Sub-total of cash outflow from business activities 7,570,283,896.45 7,729,195,411.17
Cash flow generated by business operation, net -943,291,653.35 -618,899,378.86
II. Cash flow generated by investing
Cash received from investment retrieving
Cash received as investment profit 2,770,000,000.00
Net cash retrieved from disposal of fixed assets, intangible assets, and
6,923,301.36
other long-term assets
Net cash received from disposal of subsidiaries or other operational units 107,010.00 1,200.00
Other investment-related cash received
Sub-total of cash inflow due to investment activities 2,777,030,311.36 1,200.00
Cash paid for construction of fixed assets, intangible assets and other
495,274,960.00 337,756,650.36
long-term assets
Cash paid as investment 2,240,000,000.00
Net cash received from subsidiaries and other operational units
Other cash paid for investment activities
Sub-total of cash outflow due to investment activities 2,735,274,960.00 337,756,650.36
Net cash flow generated by investment 41,755,351.36 -337,755,450.36
III. Cash flow generated by financing
Cash received as investment
Cash received as loans 2,741,933,000.00 2,500,739,500.00
Cash received from bond placing
Other financing-related cash received
Subtotal of cash inflow from financing activities 2,741,933,000.00 2,500,739,500.00
Cash to repay debts 2,167,273,192.59 2,134,523,179.60
Cash paid as dividend, profit, or interests 171,830,589.37 169,898,438.41
Other cash paid for financing activities
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2014 Full Text
Subtotal of cash outflow due to financing activities 2,339,103,781.96 2,304,421,618.01
Net cash flow generated by financing 402,829,218.04 196,317,881.99
IV. Influence of exchange rate alternation on cash and cash equivalents 4,812,371.68 -1,179,201.29
V. Net increase of cash and cash equivalents -493,894,712.27 -761,516,148.52
Plus: Balance of cash and cash equivalents at the beginning of term 4,304,424,513.46 3,402,276,928.46
VI. Balance of cash and cash equivalents at the end of term 3,810,529,801.19 2,640,760,779.94
Legal representative: Wang Shu CFO: Han Ge Accounting Manager: Wang Shaoyu
II. Auditors’ Report
If the 1st Quarterly Financial Statements are audited?
[] Yes [V] No
This 1st Quarterly Report is not audited.
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