Bengang Steel Plates Co., Ltd. The 3 rd Quarterly Report 2014 (Full Text)
Bengang Steel Plates Co., Ltd.
The 3rd Quarterly Report 2014
Oct 2014
1
Bengang Steel Plates Co., Ltd. The 3 rd 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 – Mr. Wang Shu, Chief Financial Officer – Mr. Han Ge, and Head of Accounting Dept. –
Mr. Wang Shaoyu hereby declare: the authenticity and integrality of the report are guaranteed.
2
Bengang Steel Plates Co., Ltd. The 3 rd 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
Changed at end of report
Ended this report End of prev. year period over end of previous
term period
Not adjusted Adjusted Adjusted
Gross Assets (RMB) 44,754,747,298.67 43,050,307,324.66 43,050,307,324.66 3.96%
Net asset attributable to owners of
15,359,505,787.25 15,308,337,697.63 15,308,337,697.63 0.33%
the PLC
The amount of from
From beginning of year beginning of year to the end
Increase/decrease
This report term to the end of report of report period over the
(%)
period amount of same period last
year
Turnover (RMB) 10,383,901,975.97 7.01% 30,196,578,257.78 -0.76%
Net profit attributable to
shareholders of the listed company 27,917,466.35 -79.30% 201,811,775.99 -32.31%
(yuan)
Net profit attributable to the
shareholders of the listed company
18,349,213.31 -84.62% 171,124,583.99 -31.99%
and after deducting of non-recurring
gain/loss(RMB)
Net Cash flow generated by
-- -- -235,268,594.72 -142.59%
business operation (RMB)
Basic earnings per share
0.01 -75.00% 0.06 -40.00%
(Yuan/share)
Diluted earnings per share
0.01 -75.00% 0.06 -40.00%
(Yuan/share)
Net income on asset, weighted 0.18% -0.69% 1.28% -0.57%
Non-recurring gain/loss items and amounts
[V] Applicable Not applicable
In RMB Yuan
3
Bengang Steel Plates Co., Ltd. The 3 rd Quarterly Report 2014 (Full Text)
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
3,009,167.02
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 1,159,998.00
national policy , or in accordance with fixed standards or quantities
Gain/loss from commissioned investment or assets 20,845,473.00
Gain/loss from debt reorganization 5,468,594.65
Other non-business income and expenditures other than the above 3,618,266.82
Less: Influenced amount of income tax 3,314,006.62
Influence on minority shareholders equity (after tax) 100,300.87
Total 30,687,192.00 --
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
None of non-recurring gain/loss items recognized as recurring gain/loss items as defined by the Information Disclosure Explanatory
Announcement No.1 – Non-recurring gain/loss in the report period.
II. Total of shareholders and top-10 holders of current shares at end of period
1 Total of shareholders and top-10 holders at end of the report period
in shares
Total common shareholders at the end
59,541
of the report period
Top 10 common share holders
Amount of Frozen or pledged
Properties of Share Amount of
Name of the shareholder unconditional shares
shareholder proportion % shares Status of shares Amount
held
State-owned
Benxi Steel (Group) Ltd. 81.77% 2,564,430,000
legal person
GIC PRIVATE Overseas
0.80% 25,044,081
LIMITED legal person
GSIC A/C MONETARY
Overseas
AUTHORITY OF 0.31% 9,724,084
legal person
SINGAPORE
BBH A/C VANGUARD
EMERGING Overseas
0.26% 8,157,311
MARKETS STOCK legal person
INDEX FUND
DWS CHINA EQUITY Overseas
0.15% 4,549,984
FUND legal person
China Galaxy Securities
Client Credit Transaction
Others 0.11% 3,457,060
Guarantee Securities
Account
4
Bengang Steel Plates Co., Ltd. The 3 rd Quarterly Report 2014 (Full Text)
Overseas
SEUNG YEOL PARK natural 0.11% 3,436,395
person
LSV EMERGING
Overseas
MARKETS EQUITY 0.11% 3,385,700
legal person
FUND,L.P.
Taifook Securities
Overseas
Company 0.10% 3,243,409
legal person
Limited-Account Client
Overseas
Bao Xinfa natural 0.10% 3,100,004
person
Top 10 Holders of Unrestricted Shares
Category of shares
Name of the shareholder Number of unrestricted shares held
Category of shares Amount
RMB common
Benxi Steel (Group) Ltd. 2,564,430,000 2,564,430,000
shares
Foreign shares
GIC PRIVATE LIMITED 25,044,081 placed in domestic 25,044,081
exchange
Foreign shares
GSIC A/C MONETARY AUTHORITY
9,724,084 placed in domestic 9,724,084
OF SINGAPORE
exchange
Foreign shares
BBH A/C VANGUARD EMERGING
8,157,311 placed in domestic 8,157,311
MARKETS STOCK INDEX FUND
exchange
Foreign shares
DWS CHINA EQUITY FUND 4,549,984 placed in domestic 4,549,984
exchange
China Galaxy Securities Client Credit
RMB common
Transaction Guarantee Securities 3,457,060 3,457,060
shares
Account
Foreign shares
SEUNG YEOL PARK 3,436,395 placed in domestic 3,436,395
exchange
Foreign shares
LSV EMERGING MARKETS
3,385,700 placed in domestic 3,385,700
EQUITY FUND,L.P.
exchange
Foreign shares
Taifook Securities Company
3,243,409 placed in domestic 3,243,409
Limited-Account Client
exchange
Foreign shares
Bao Xinfa 3,100,004 placed in domestic 3,100,004
exchange
Notes to relationship or “action in It is unknown to the Company whether there is any related connection or Action in
concert” among the top ten Concert as described by Rules of Information Disclosing Regarding Changing of
shareholders. Shareholding Status of Listed Companies existing among the above shareholders.
Participating of financing operations by
top 10 unrestricted common share None
holders
Whether there was any repurchasing deal made between any of the top 10 shareholders and top 10 holders of unrestricted shares in
the report period
[] Yes [V] No
There was not any repurchasing deal made between any of the top 10 shareholders and top 10 holders of unrestricted shares in the
report period
5
Bengang Steel Plates Co., Ltd. The 3 rd Quarterly Report 2014 (Full Text)
Chapter III. Significant Issues
I. Particulars and causations of material change in major accounting items and indices
[V] Applicable Not applicable
(I) Influences of the newly revised accounting standard on the consolidated financial
statements of the Company
According to the newly revised “Enterprise Accounting Standard No.2 – Long-term equity investment”, when the
Company is not committing common control or material influence on any of the invested entity, and there is no
fair value in an active market or the fair value is not measurable, the corresponding “long-term equity investment”
shall be combined as described by “Enterprise Accounting Standard No.2 – Recognition and measurement of
financial instruments”. Therefore the closing balance of RMB20,271,278.63 under long-term equity investment as
of the end of September 2014 was transferred to saleable financial assets, and the opening balance of the
consolidated statements was adjusted thereof.
Revising of the accounting standard was only committing influences on the amounts of saleable financial assets
and long-term equity investment, but not on the amounts of total assets, total liabilities, net assets, and net profit
of year 2013 and the report period.
(II) Change and causations of major items and indexes in the financial statements
Material items in the consolidated financial statements which have changed by over 30% over that of at end of 2013, and the
causations.
I. Items in the balance sheet Changed Causations of change
by
Other current assets -64% Decrease of undue financial instruments in the period
Construction-in-process 67% Increase of settlement of construction in process in the
period
Project materials 358% Increasing of project materials inventory
Intangible assets 146% Completing of the takeover procedures of the land rights of
High-strength Steel and
Notes payable 274% Increasing of trade settlement by payable notes in the period
Tax payable -30% Decrease of tax payable at end of period
Non-recurring liabilities due in 1 year -80% Decrease of long-term borrowings transferred to under 1
year
Long-term loan 56% Increase of long-term borrowings
Special reserves 2918% Decrease of safety fees in the period
Material items in the consolidated financial statements which have changed by over 30% over that of Jan-Sept 2013, and the
causations.
II. Items of income statement Changed Causations of change
by
Financial expenses 73% Increase of loan balance and change of exchange rate
Asset impairment 64% Increase of inventory depreciation provision provided
Investment gains 684% Increase of financial instruments purchased
Non-operational incomes -54% Decrease of gains from debtor reconstruction
Non-operational expenditures -99% Decrease of loss from disposal of fixed assets
Income tax expense -74% Decrease of profit of the subsidiaries
6
Bengang Steel Plates Co., Ltd. The 3 rd Quarterly Report 2014 (Full Text)
Minority shareholders equity 961% Increase of profit from holding subsidiaries
III. Items of cash flow statement Changed Causations of change
by
Taxes and fees paid -54% Decrease of VAT paid in the period
Net cash flow from business operation -301% Decrease of cash from sales of goods and services, and
increase of cash paid for goods and services in the period
Cash received by retrieving of investment 413% Increase of repurchasing of financial instruments in the
period
Cash received by receiving of investment gains 684% Increase of financial instruments purchased in the period
Net cash received from disposal of fixed assets, 569% Increase of cash received from disposal of fixed assets
intangible assets and other long-term assets
Cash paid as investment 310% Increase of financial instruments purchased in the period
Net cash flow from investment activities 49% Increase of repurchasing of financial instruments purchased
in previous period
Cash paid as dividend, profit distribution, or interests 38% Increase of dividend and interests paid
Net cash flow from financing 507% Expanding of increasing scale of net amount of borrowings
over the same period of last year
(III) Share reducing of holding shareholders
From September 1 to September 24, 2014, Benxi Iron & Steel (Group) Co., Ltd. reduced its shareholding in the Company by
9,202,420 shares，take out 0.30% of total capital share。
II. Analyze of significant issues and solutions
[V] Applicable Not applicable
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 1st shareholders
provisional meeting of 2014. The Verification Committee of CSRC verified the application on July 18, 2014. It
was approved thereafter.
Date of
Summary of material issues Index of provisional announcement
disclosure
Announcement on Receiving of Approval from China Securities
August 26, http://www.cninfo.com.cn China Securities Journal,
Regulatory Commission about the Companys Application to
2014 Securities Times, Hong Kong Commercial Daily.
Public Offering Corporation Bonds
III. Commitment issues of shareholders with 5% or over of shares occurred in the report
period or carried down from previous report periods
[] Applicable; [V] Not applicable
No commitment issues by shareholders with 5% or over of shares in the report period or carried over to the report period from
previous periods
IV. Prospect on the business performance of year 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
7
Bengang Steel Plates Co., Ltd. The 3 rd Quarterly Report 2014 (Full Text)
same period of last year, and statement of causations.
[] Applicable; [V] Not applicable
V. Securities investment
[] Applicable; [V] Not applicable
No securities investment in the report period.
Statement on holding of other PLCs shares.
[] Applicable; [V] Not applicable
The Company was not holding shares of any other PLC as of the end of report period.
VI. Investment in derivate instruments
[] Applicable; [V] Not applicable
No derivate instrument investment in the report period.
VII Influences of the newly revised accounting standard on the consolidated financial
statements of the Company
According to the newly revised “Enterprise Accounting Standard No.2 – Long-term equity investment”, when the
Company is not committing common control or material influence on any of the invested entity, and there is no
fair value in an active market or the fair value is not measurable, the corresponding “long-term equity investment”
shall be combined as described by “Enterprise Accounting Standard No.2 – Recognition and measurement of
financial instruments”. Therefore the closing balance of RMB20,271,278.63 under long-term equity investment as
of the end of September 2014 was transferred to saleable financial assets, and the opening balance of the
consolidated statements was adjusted thereof.
Revising of the accounting standard was only committing influences on the amounts of saleable financial assets
and long-term equity investment, but not on the amounts of total assets, total liabilities, net assets, and net profit
of year 2013 and the report period.
8
Bengang Steel Plates Co., Ltd. The 3 rd 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 5,760,636,246.29 4,574,532,598.83
Settlement provision
Outgoing call loan
Financial assets accounted at fair value and fluctuation accounted into current income
Notes receivable 2,854,481,908.80 2,433,550,653.99
Account receivable 293,070,803.93 354,770,643.94
Prepayment 909,133,974.39 1,057,057,803.49
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts receivable
Interest receivable
Dividend receivable
Other account receivable 152,515,682.85 187,896,130.26
Repurchasing of financial assets
Inventories 11,797,293,479.68 11,607,047,545.14
Categorized as asset hold for sale
Non-current asset due in 1 year
Other current asset 308,848,328.35 863,068,482.67
Total of current asset 22,075,980,424.29 21,077,923,858.32
Non-current assets
Disburse of consigned loans
Sellable financial asset 20,271,278.63 20,271,278.63
Expired investment in possess
Long-term receivable
Long-term share equity investment 0.00 0.00
Investment real estates
Fixed assets 17,039,412,228.06 18,574,585,898.20
Construction in process 5,116,675,035.62 3,072,825,789.22
Engineering goods 35,799,526.98 7,821,295.85
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 275,424,337.01 112,092,162.53
R&D expense
Goodwill
Long-term amortizable expenses
Deferred income tax asset 191,184,468.08 184,787,041.91
Other non-current asset
Total of non-current assets 22,678,766,874.38 21,972,383,466.34
Total of assets 44,754,747,298.67 43,050,307,324.66
Current liabilities
Short-term loans 17,328,031,648.62 14,242,610,696.91
Loan from Central Bank
Deposit received and hold for others
Call loan received
Financial liabilities booked as current gain/loss at fair value
Notes payable 573,090,823.47 153,175,292.90
9
Bengang Steel Plates Co., Ltd. The 3 rd Quarterly Report 2014 (Full Text)
Account payable 5,813,250,305.58 7,440,328,267.35
Advances received 2,830,993,157.96 2,665,468,224.81
Selling of repurchased financial assets
Fees and commissions receivable
Employees’ wage payable 65,382,948.54 84,786,965.55
Tax payable 20,449,868.53 29,240,548.05
Interest payable 24,459,541.36 24,854,193.88
Dividend payable
Other account payable 503,809,002.24 485,579,109.34
Reinsurance fee payable
Insurance contract provision
Entrusted trading of securities
Entrusted selling of securities
Liabilities categorized as hold for sale
Non-current liability due in 1 year 231,190,000.00 1,163,814,681.99
Other current liability
Total of current liability 27,390,657,296.30 26,289,857,980.78
Non-current liabilities
Long-term borrowings 1,164,103,631.88 745,666,892.70
Bond payable
Long-term payable
Special payable
Expected liabilities
Deferred income tax liability
Other non-recurring liabilities 428,676,226.00 336,216,224.00
Total of non-current liabilities 1,592,779,857.88 1,081,883,116.70
Total of liability 28,983,437,154.18 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 6,367,286.31 210,972.68
Other misc incomes
Surplus reserves 956,694,103.74 956,694,103.74
Common risk provision
Retained profit 2,145,598,855.15 2,100,587,079.16
Different of foreign currency translation
Total of owner’s equity belong to the parent company 15,359,505,787.25 15,308,337,697.63
Minor shareholders’ equity 411,804,357.24 370,228,529.55
Total of owners equity (or shareholders equity) 15,771,310,144.49 15,678,566,227.18
Total of liability and shareholders equity (or owners equity) 44,754,747,298.67 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 5,460,567,331.12 4,304,424,513.46
Financial assets accounted at fair value and fluctuation accounted into current income
Notes receivable 2,733,485,703.50 2,287,026,533.02
Account receivable 517,379,989.39 651,280,698.09
Prepayment 860,431,434.97 963,761,418.30
Interest receivable
Dividend receivable
Other account receivable 237,090,205.42 261,165,598.02
Inventories 9,891,866,457.43 9,885,156,126.53
Categorized as asset hold for sale
10
Bengang Steel Plates Co., Ltd. The 3 rd Quarterly Report 2014 (Full Text)
Non-current asset due in 1 year
Other current asset 227,600,961.17 806,197,784.04
Total of current asset 19,928,422,083.00 19,159,012,671.46
Non-current assets
Sellable financial asset 20,271,278.63 20,271,278.63
Expired investment in possess
Long-term receivable
Long-term share equity investment 1,689,014,296.53 1,689,014,296.53
Investment real estates
Fixed assets 13,978,353,334.17 15,229,658,352.73
Construction in process 5,086,584,184.22 3,044,697,564.93
Engineering goods 35,799,526.98 7,821,295.85
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 165,306,864.40 0.00
R&D expense
Goodwill
Long-term amortizable expenses
Deferred income tax asset 96,038,322.55 87,312,493.14
Other non-current asset
Total of non-current assets 21,071,367,807.48 20,078,775,281.81
Total of assets 40,999,789,890.48 39,237,787,953.27
Current liabilities
Short-term loans 15,566,508,500.00 12,264,551,200.00
Financial liabilities booked as current gain/loss at fair value
Notes payable 573,090,823.47 144,994,492.90
Account payable 6,086,056,172.61 7,570,742,890.27
Advances received 2,075,903,257.89 1,985,709,079.59
Employees’ wage payable 64,580,271.46 82,156,107.48
Tax payable 9,347,367.14 5,633,746.17
Interest payable 6,429,725.95 4,008,373.03
Dividend payable
Other account payable 312,792,661.35 297,207,569.77
Liabilities categorized as hold for sale
Non-current liability due in 1 year 218,740,000.00 1,138,914,681.99
Other current liability
Total of current liability 24,913,448,779.87 23,493,918,141.20
Non-current liabilities
Long-term borrowings 893,553,631.88 487,566,892.70
Bond payable
Long-term payable
Special payable
Expected liabilities
Deferred income tax liability
Other non-recurring liabilities 428,676,226.00 336,216,224.00
Total of non-current liabilities 1,322,229,857.88 823,783,116.70
Total of liability 26,235,678,637.75 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
Special reserves 6,367,286.31 210,972.68
Other misc incomes
Surplus reserves 956,694,103.74 956,694,103.74
Common risk provision
Retained profit 1,970,356,002.75 2,132,487,759.02
Different of foreign currency translation
Total of owners equity (or shareholders equity) 14,764,111,252.73 14,920,086,695.37
Total of liability and shareholders equity (or owners equity) 40,999,789,890.48 39,237,787,953.27
Legal representative: Wang Shu CFO: Han Ge Accounting Manager: Wang Shaoyu
11
Bengang Steel Plates Co., Ltd. The 3 rd Quarterly Report 2014 (Full Text)
3. Income Statement (Consolidated) of the Report Period
Bengang Steel Plate Co., Ltd.
In RMB Yuan
Amount of the Current Amount of the Previous
Items
Term Term
I. Total revenue 10,383,901,975.97 9,703,349,679.56
Incl. Business income 10,383,901,975.97 9,703,349,679.56
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 10,332,362,031.31 9,543,794,613.52
Incl. Business cost 9,551,141,344.56 8,936,582,024.72
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Net insurance policy reserves provided
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 44,236,996.97 39,612,841.03
Sales expense 172,469,064.80 185,265,677.78
Administrative expense 286,238,127.54 244,659,250.64
Financial expenses 271,282,298.04 137,674,819.35
Asset impairment loss 6,994,199.40 0.00
Plus: gains from change of fair value (“-“ for loss)
Investment gains (“-“ for loss) 7,290,248.43 2,389,041.11
Incl. Investment gains from affiliates
Exchange gains (“-“ for loss)
III. Operational profit (“-“ for loss) 58,830,193.09 161,944,107.15
Plus: non-operational income 3,124,159.02 9,211,933.88
Less: non-operational expenditure 41,240.73 0.00
Incl. Loss from disposal of non-current assets 3,005,254.84 -47,821.49
IV. Gross profit (“-“ for loss) 61,913,111.38 171,156,041.03
Less: Income tax expenses 7,695,000.48 52,404,519.22
V. Net profit (“-“ for net loss) 54,218,110.90 118,751,521.81
Including: Net profit realized by the entity taken over before the takover
Net profit attributable to the owners of parent company 27,917,466.35 134,839,655.66
Minor shareholders’ equity 26,300,644.55 -16,088,133.85
VI. Earnings per share: -- --
(I) Basic earnings per share 0.01 0.04
(II) Diluted earnings per share 0.01 0.04
VII. Other misc. incomes
Incl. Other misc. gains unable to be relocated to income account in succeeding
fiscal period
Other misc. gains able to be relocated to income account in succeeding
fiscal period when certain conditions are satisfied
VIII. Total of misc. incomes 54,218,110.90 118,751,521.81
Total of misc. incomes attributable to the owners of the parent company 27,917,466.35 134,839,655.66
Total misc gains attributable to the minor shareholders 26,300,644.55 -16,088,133.85
Legal representative: Wang Shu CFO: Han Ge Accounting Manager: Wang Shaoyu
12
Bengang Steel Plates Co., Ltd. The 3 rd Quarterly Report 2014 (Full Text)
4. Income Statement (Parent Co.) of the Report Period
Bengang Steel Plate Co., Ltd.
In RMB Yuan
Amount of the Current Amount of the Previous
Items
Term Term
I. Turnover 10,818,281,641.87 10,289,406,443.58
Less: Operation cost 10,228,260,342.02 9,734,702,854.61
Business tax and surcharge 38,220,450.33 33,592,132.44
Sales expense 129,947,728.58 138,957,955.97
Administrative expense 269,491,394.49 228,832,453.60
Financial expenses 245,405,900.43 107,505,302.95
Asset impairment loss 4,149,004.95
Plus: gains from change of fair value (“-“ for loss)
Investment gains (“-“ for loss) 4,010,958.92 2,389,041.11
Incl. Investment gains from affiliates
II. Operational profit (“-“ for loss) -93,182,220.01 48,204,785.12
Plus: Non business income 2,979,310.54 8,764,688.58
Less: Non-business expenses 41,240.73 0.00
Incl. Loss from disposal of non-current assets 3,005,254.84 -18,398.41
III. Total profit (“-“ for loss) -90,244,150.20 56,969,473.70
Less: Income tax expenses -431,239.64 2,996,831.22
IV. Net profit (“-“ for net loss) -89,812,910.56 53,972,642.48
V. Earnings per share -- --
(I) Basic earnings per share -0.03 0.02
(II) Diluted earnings per share -0.03 0.02
VI. Other misc gains
Incl. Other misc. gains unable to be relocated to income account in succeeding
fiscal period
Other misc. gains able to be relocated to income account in succeeding
fiscal period when certain conditions are satisfied
VII. Total of integrated income -89,812,910.56 53,972,642.48
Legal representative: Wang Shu CFO: Han Ge Accounting Manager: Wang Shaoyu
13
Bengang Steel Plates Co., Ltd. The 3 rd Quarterly Report 2014 (Full Text)
5. Income Statement (Consolidated) (Jan. 1 – Sept. 30, 2014)
Bengang Steel Plate Co., Ltd.
In RMB Yuan
Amount of the Current Amount of the Previous
Items
Term Term
I. Total revenue 30,196,578,257.78 30,429,211,975.94
Incl. Business income 30,196,578,257.78 30,429,211,975.94
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 29,969,155,487.20 30,085,021,561.11
Incl. Business cost 27,690,267,425.28 28,189,391,110.20
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Net insurance policy reserves provided
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 109,330,862.45 114,789,011.40
Sales expense 544,974,481.95 519,194,212.83
Administrative expense 908,794,574.91 846,724,977.63
Financial expenses 683,300,684.32 395,146,402.80
Asset impairment loss 32,487,458.29 19,775,846.25
Plus: gains from change of fair value (“-“ for loss)
Investment gains (“-“ for loss) 20,845,473.00 2,660,274.05
Incl. Investment gains from affiliates
Exchange gains (“-“ for loss)
III. Operational profit (“-“ for loss) 248,268,243.58 346,850,688.88
Plus: non-operational income 13,301,179.40 29,034,702.08
Less: non-operational expenditure 45,152.91 3,170,147.09
Incl. Loss from disposal of non-current assets 3,009,167.02 3,122,325.60
IV. Gross profit (“-“ for loss) 261,524,270.07 372,715,243.87
Less: Income tax expenses 18,136,666.39 70,642,412.37
V. Net profit (“-“ for net loss) 243,387,603.68 302,072,831.50
Including: Net profit realized by the entity taken over before the takover
Net profit attributable to the owners of parent company 201,811,775.99 298,153,097.04
Minor shareholders’ equity 41,575,827.69 3,919,734.46
VI. Earnings per share: -- --
(I) Basic earnings per share 0.06 0.10
(II) Diluted earnings per share 0.06 0.10
VII. Other misc. incomes
Incl. Other misc. gains unable to be relocated to income account in succeeding
fiscal period
Other misc. gains able to be relocated to income account in succeeding
fiscal period when certain conditions are satisfied
VIII. Total of misc. incomes 243,387,603.68 302,072,831.50
Total of misc. incomes attributable to the owners of the parent company 201,811,775.99 298,153,097.04
Total misc gains attributable to the minor shareholders 41,575,827.69 3,919,734.46
Legal representative: Wang Shu CFO: Han Ge Accounting Manager: Wang Shaoyu
6. Income Statement (Parent Co.) (Jan. 1 – Sept. 30, 2014)
Bengang Steel Plate Co., Ltd.
In RMB Yuan
Items Amount of the Amount of the
14
Bengang Steel Plates Co., Ltd. The 3 rd Quarterly Report 2014 (Full Text)
Current Term Previous Term
I. Turnover 31,605,935,442.63 31,917,550,081.19
Less: Operation cost 29,672,441,206.07 30,260,572,143.55
Business tax and surcharge 89,878,270.23 98,786,355.13
Sales expense 423,641,369.03 379,931,341.91
Administrative expense 859,652,895.68 799,588,811.76
Financial expenses 580,991,377.30 294,731,968.16
Asset impairment loss 14,874,953.21 0.00
Plus: gains from change of fair value (“-“ for loss)
Investment gains (“-“ for loss) 16,389,712.34 2,389,041.11
Incl. Investment gains from affiliates
II. Operational profit (“-“ for loss) -19,154,916.55 86,328,501.79
Plus: Non business income 11,686,855.84 25,244,529.79
Less: Non-business expenses 45,152.91 3,170,147.09
Incl. Loss from disposal of non-current assets 3,009,167.02 3,151,748.68
III. Total profit (“-“ for loss) -7,513,213.62 108,402,884.49
Less: Income tax expenses -2,181,457.35 0.00
IV. Net profit (“-“ for net loss) -5,331,756.27 108,402,884.49
V. Earnings per share -- --
(I) Basic earnings per share 0.00 0.03
(II) Diluted earnings per share 0.00 0.03
VI. Other misc gains
Incl. Other misc. gains unable to be relocated to income account in succeeding fiscal period
Other misc. gains able to be relocated to income account in succeeding fiscal period
when certain conditions are satisfied
VII. Total of integrated income -5,331,756.27 108,402,884.49
Legal representative: Wang Shu CFO: Han Ge Accounting Manager: Wang Shaoyu
7. Cash Flow Statement (Consolidated)(Jan. 1 – Sept. 30, 2014)
Bengang Steel Plate Co., Ltd.
In RMB Yuan
Amount of the Amount of the
Items
Current Term Previous Term
I. Net cash flow from business operation
Cash received from sales of products and providing of services 22,269,972,032.15 23,839,070,989.75
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 68,932,133.31 97,244,290.22
Other cash received from business operation 100,710,062.18 112,313,526.97
Sub-total of cash inflow from business activities 22,439,614,227.64 24,048,628,806.94
Cash paid for purchasing of merchandise and services 20,154,313,796.76 20,495,963,087.01
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 1,689,348,579.69 1,558,002,198.21
Taxes paid 501,971,818.94 1,098,703,524.75
Other cash paid for business activities 329,248,626.97 343,590,635.01
Sub-total of cash outflow from business activities 22,674,882,822.36 23,496,259,444.98
Cash flow generated by business operation, net -235,268,594.72 552,369,361.96
15
Bengang Steel Plates Co., Ltd. The 3 rd Quarterly Report 2014 (Full Text)
II. Cash flow generated by investing
Cash received from investment retrieving 8,214,370,000.00 1,600,000,000.00
Cash received as investment profit 20,845,473.00 2,660,274.05
Net cash retrieved from disposal of fixed assets, intangible assets, and other long-term
131,010.80 19,590.00
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 8,235,346,483.80 1,602,679,864.05
Cash paid for construction of fixed assets, intangible assets and other long-term assets 1,237,913,719.32 1,065,985,621.88
Cash paid as investment 7,684,370,000.00 1,874,000,000.00
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 8,922,283,719.32 2,939,985,621.88
Net cash flow generated by investment -686,937,235.52 -1,337,305,757.83
III. Cash flow generated by financing
Cash received as investment
Incl. Cash received as investment from minor shareholders
Cash received as loans 10,190,304,700.00 10,308,720,350.00
Cash received from bond placing
Other financing-related cash received
Subtotal of cash inflow from financing activities 10,190,304,700.00 10,308,720,350.00
Cash to repay debts 7,619,071,691.10 9,252,584,295.85
Cash paid as dividend, profit, or interests 870,037,096.28 632,019,300.58
Incl. Dividend and profit paid by subsidiaries to minor shareholders
Other cash paid for financing activities
Subtotal of cash outflow due to financing activities 8,489,108,787.38 9,884,603,596.43
Net cash flow generated by financing 1,701,195,912.62 424,116,753.57
IV. Influence of exchange rate alternation on cash and cash equivalents 749,761.37 -7,289,640.16
V. Net increase of cash and cash equivalents 779,739,843.75 -368,109,282.46
Plus: Balance of cash and cash equivalents at the beginning of term 4,574,532,598.83 3,540,908,609.39
VI. Balance of cash and cash equivalents at the end of term 5,354,272,442.58 3,172,799,326.93
Legal representative: Wang Shu CFO: Han Ge Accounting Manager: Wang Shaoyu
8. Cash Flow Statement (Parent Co.)(Jan. 1 – Sept. 30, 2014)
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 23,551,146,202.09 24,688,103,274.13
Tax returned 45,691,196.11 38,100,101.38
Other cash received from business operation 93,429,119.81 106,895,396.40
Sub-total of cash inflow from business activities 23,690,266,518.01 24,833,098,771.91
Cash paid for purchasing of merchandise and services 22,084,905,911.37 22,167,017,324.25
Cash paid to staffs or paid for staffs 1,582,544,300.92 1,485,650,947.92
Taxes paid 333,013,170.45 956,556,838.35
Other cash paid for business activities 264,828,429.24 293,178,611.61
Sub-total of cash outflow from business activities 24,265,291,811.98 24,902,403,722.13
Cash flow generated by business operation, net -575,025,293.97 -69,304,950.22
16
Bengang Steel Plates Co., Ltd. The 3 rd Quarterly Report 2014 (Full Text)
II. Cash flow generated by investing
Cash received from investment retrieving 7,440,000,000.00 1,400,000,000.00
Cash received as investment profit 16,389,712.34 2,389,041.11
Net cash retrieved from disposal of fixed assets, intangible assets, and
131,010.80 19,590.00
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 7,456,520,723.14 1,402,408,631.11
Cash paid for construction of fixed assets, intangible assets and other
1,225,009,067.83 963,710,102.72
long-term assets
Cash paid as investment 6,910,000,000.00 1,674,000,000.00
Net cash received from subsidiaries and other operational units
Other cash paid for investment activities
Sub-total of cash outflow due to investment activities 8,135,009,067.83 2,637,710,102.72
Net cash flow generated by investment -678,488,344.69 -1,235,301,471.61
III. Cash flow generated by financing
Cash received as investment
Cash received as loans 8,626,994,500.00 7,138,929,600.00
Cash received from bond placing
Other financing-related cash received
Subtotal of cash inflow from financing activities 8,626,994,500.00 7,138,929,600.00
Cash to repay debts 5,839,225,142.81 5,824,050,663.36
Cash paid as dividend, profit, or interests 787,964,325.84 538,456,989.64
Other cash paid for financing activities
Subtotal of cash outflow due to financing activities 6,627,189,468.65 6,362,507,653.00
Net cash flow generated by financing 1,999,805,031.35 776,421,947.00
IV. Influence of exchange rate alternation on cash and cash equivalents 3,487,621.18 -2,322,928.13
V. Net increase of cash and cash equivalents 749,779,013.87 -530,507,402.96
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 5,054,203,527.33 2,871,769,525.50
Legal representative: Wang Shu CFO: Han Ge Accounting Manager: Wang Shaoyu
II. Auditors’ Report
If the 3rd quarterly report been audited
[] Yes [V] No
The 3rd quarterly report has not been audited.
17
