Bengang Steel Plates Co., Ltd. Third Quarter Report 2021
Stock Code: 000761 Abbreviation: Bengang Bancai Announcement No.：2021-065
Bengang Steel Plates Co., Ltd.
Third Quarter Report 2021
The Company and all members of the Board of Directors guarantee that the information
disclosed is true, accurate, and complete, and there are no misrepresentations or misleading
statements, or material omission.
Important Notice:
1. The Board of Directors, the Supervisory Committee and the Directors, members of the
Supervisory Committee and senior management of the Company guarantee that there are no
misrepresentations or misleading statements, or material omission in this report, and individually
and collectively accept full responsibility for the authenticity, accuracy and integrity of the
information contained in this report.
2. The person in charge of the company, the person in charge of accounting work, and the person in
charge of the accounting organization (accounting officer), hereby confirm that the financial report
in this quarterly report is true, accurate and complete.
3. Whether the third quarter report is audited
□ Yes √ No
1
Bengang Steel Plates Co., Ltd. Third Quarter Report 2021
I. Summary of Financial Index
1. Summary of Accounting data and Financial index
Whether the Co mpany makes retroactive adjustment or restatement of the accounting data of the previous year
□ Yes √ No
Increase or decrease Fro m the beginning of Increase or decrease over
This reporting period over the same period this year to the end of the same period of the
of the previous year this reporting period previous year
Operating inco me（RM B） 22,839,272,300.53 80.30% 61,427,400,512.67 76.25%
Net profit attributable to the
shareholders of the listed company 1,568,670,728.28 5,334.49% 3,777,468,896.19 1,232.40%
（RM B）
Net profit after deducting of
non-recurring gain/loss attributable
1,564,675,127.02 31,395.92% 3,763,817,375.84 1,437.17%
to the shareholders of listed
company（RM B）
Net Cash flow generated by
—— —— 1,543,820,687.38 -208.33%
business operation（RMB）
Basic earn ings per
0.38 12,245.09% 0.92 1,214.29%
share(RMB/Share)
Diluted earnings per
0.38 12,245.09% 0.92 1,214.29%
share(RMB/Share)
Weighted average net assets yield 6.83% 16.32% 16.46% 15.09%
Increase or decrease at the end of
At the end of the current
At the end of previous year this reporting period over the
period
previous year
Total assets（RMB） 67,252,482,643.32 65,007,470,749.20 3.45%
Net assets attributable to
shareholders of the listed company 23,799,726,515.82 21,018,296,389.10 13.23%
（RM B）
2. Items and amount of non-recurring profit and loss
√ Applicable □ Not applicable
Unit: Yuan
Fro m the beginning of the year
Items This reporting period Notes
to the end of the current period
Profit or loss from d isposal of
-11,376,424.23 -33,648,474.64
non-current assets (including the
2
Bengang Steel Plates Co., Ltd. Third Quarter Report 2021
write-off part for which assets
impairment provision is made)
Details of government subsidies
recorded into current profits and loss
（except such government subsidy
closely related to the company’s normal
16,147,275.00 48,806,758.34
business operation, meeting the
regulation of national policy and enjoyed
constantly in certain quota or quantity
according to a certain standard）
Other non-operating revenue and
566,515.70 3,122,051.43
expenditure other than above items
Less: Impact of inco me tax 1,334,341.62 4,570,083.78
Impact of minority interests (after
7,423.59 58,731.00
tax)
Total 3,995,601.26 13,651,520.35 --
Other circu mstances can be defined as non-recurring profit and loss:
□ Applicable √ Not applicable
There is no other circu mstances can be defined as non-recurring profit and loss.
For the Co mpany’s non-recurring profit and loss items as defined in “the Exp lanatory Announcement No.1 on informat ion
disclosure for Co mpanies Offering their Securities to the Public-Non-recurring Profits and Losses” and its non-recurring profit
and loss items as illustrated in “the Exp lanatory Announcement No.1 on informat ion disclosure for Companies Offering their
Securities to the Public -Non-recurring Profits and Losses” which have been defined as recurring profits and losses, it is necessary
to exp lain the reason.
□ Applicable √ Not applicable
None of Non-recurring profit and loss items recognized as recurring profit and loss items as defined by “the Explanatory
Announcement No.1 on information disclosure for Co mpanies Offering their Securities to the Public-Non-recurring Profits and
Losses” in the report period.
3. Major Changes in Financial Data and Financial Index and Reasons
√ Applicable □ Not applicable
Items and reasons for the changes of more than 30% compared with the beginning of the year in the
consolidated statement
Increase /
1. Statement of Financial Position Reasons
Decrease
Due to the increase of accounts receivable
Accounts receivable financing 49%
received during the current period.
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2021
Due to the increase of construction in
progress that did not meet the conditions of
Construction in progress 42%
transferring to fixed assets at the end of the
period.
Due to the decrease of notes payable issued
Notes payables -44%
during the current period.
Contract liabilities 61% Due to the increase of contract liabilities.
Due to the increase of employee benefits
Employee benefits payables 147%
payables during the current period.
Due to the increase of VAT payable at the
Tax payables 724%
end of this period.
Due to the increase of dividend payables
Other payables 246%
during the current period.
Due to the decrease of non-current liabilities
Non-current liabilities due within
-96% due within one year during the current
one year
period.
Due to the increase of output VAT waiting to
Other current liabilities 61%
be claimed during the current period.
Due to the increase of lease payment durin g
Long-term payables 47%
the current period
Due to the deferred income has been fully
Deferred income -31%
amortized during the current period.
Due to the increase of unpaid safety
Special reserves 7334%
production fee during the current period.
Due to the increase of profit during the
Undistributed profit 67%
current period.
Items and reasons for the changes of more than 30% compared to January to September 2020 in the
consolidated financial statements
Increase /
2. Statement of comprehensive income Reasons
Decrease
Due to the increase of the sales price of stee l
Operating income 76%
products during the current period.
Due to the increase of the price of raw
Operating cost 68%
materials during the current period.
Due to the increase of VAT during the
Tax and surcharges 158%
current period.
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2021
According to the new revenue standard, the
product freight included in the sales
Selling and distribution expenses -89%
expenses is listed in the operating cost
during the current period.
Due to the increase of bonds interest
Financial expenses 52% payables and decrease of exchange income
during the current period.
Due to the increase of financing income
Income on investment 2615%
during the current period.
Due to the decrease of recovery of bad debt
Expected credit loss -58% during the current period compared to the
previous period.
Due to the decrease in the reversal of
inventory impairment provision in the
Asset impairment loss -80%
current period compared with the previous
period.
Due to the decrease in assets sold during the
Assets disposal gains -67%
current period
Due to the increase of other non-operatin g
Non-operating income 173%
income
Due to the increase of losses arose from
Non-operating expenses 74%
fixed assets scrapping
Due to the increase of profit during the
Income tax expenses 3960%
current period.
Increase /
3. Statement of cash flows Reasons
Decrease
Cash received from sale of goods or Due to the increase of cash received for goods
62%
rendering of services and services during the current period.
Due to the decrease of cash received of tax
Tax rebate received -82%
rebate during the current period.
Due to the increase of cash paid for goods and
Cash paid for goods and services 44%
services during the current period.
Due to the increase of payment of all types of
Cash paid for all types of taxes 192%
taxes.
Cash received of borrowings -60% Due to the decrease of borrowings.
Due to the decrease of cash paid for debt
Cash repayments of borrowings -48%
repayment.
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2021
II. Shareholders Information
1. Total number of common shareholders, preferred shareholders whose voting rights
restored, and shareholding of top 10 shareholders
Unit: Share
The total number of preferred
Total number of co mmon
shareholders whose voting rights has
shareholders at the end of the 62,443 0
been restored at end of the reporting
reporting period
period（if any）
Shareholding by Top 10 shareholders
Amount of Nu mber of share pledged/frozen
Name of the Nature of Proportion of Quantity of
restricted shares
shareholder shareholder shares held shares State of share Quantity
held
State-owne Pledged 1,545,545,000
Ben xi Steel & Iron
d legal 58.65% 2,409,628,094
(Group) Co., Ltd. Frozen 108,326,179
person
State-owne
Bengang Group
d legal 17.95% 737,371,532
Co., Ltd.
person
Do mestic
Zhang Wenyou natural 0.47% 19,149,967
person
Do mestic
Lyu Ruijun natural 0.37% 15,005,100
person
MORGAN
STANLEY & CO. Overseas
0.32% 12,999,919
INTERNATIONA legal person
L PLC
Hong Kong
Securities Overseas
0.30% 12,281,180
Clearing Co mpany legal person
Ltd.
State-owne
Huatai Securities
d legal 0.28% 11,429,581
Co., Ltd.
person
Do mestic
Mao Weisong natural 0.22% 9,212,619
person
China Merchants Others 0.19% 7,857,460
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2021
Bank – Hua’an
Anhua Flexib le
Allocation of
Mixed Securit ies
Investment Funds
China
Construction Bank
– Huaxia
Advantage Others 0.18% 7,528,266
Growth M ixed
Securities
Investment Fund
Shareholding of top 10 shareholders of unrestricted shares
Nu mber of non-restricted co mmon shares held at the Category of shares
Name of the shareholder
period-end Category of shares Quantity
Ben xi Steel & Iron (Group) Co mmon shares in
2,409,628,094 2,409,628,094
Co., Ltd. RM B
Co mmon shares in
Bengang Group Co., Ltd. 737,371,532 737,371,532
RM B
Co mmon shares in
Zhang Wenyou 19,149,967 19,149,967
RM B
Co mmon shares in
Lyu Ruijun 15,005,100 15,005,100
RM B
MORGAN STANLEY & CO. Overseas listed
12,999,919 12,999,919
INTERNATIONAL PLC foreign share
Hong Kong Securities Clearing Co mmon shares in
12,281,180 12,281,180
Co mpany Ltd. RM B
Co mmon shares in
Huatai Securities Co., Ltd. 11,429,581 11,429,581
RM B
Co mmon shares in
Mao Weisong 9,212,619 9,212,619
RM B
China Merchants Bank –
Hua’an Anhua Flexible Co mmon shares in
7,857,460 7,857,460
Allocation of M ixed Securities RM B
Investment Funds
China Construction Bank –
Huaxia Advantage Gro wth Co mmon shares in
7,528,266 7,528,266
Mixed Securities Investment RM B
Fund
Related-parties or Ben xi Steel & Iron (Group) Co., Ltd. and Bengang Group Co., Ltd. are related parties and
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2021
acting-in-concert parties among action-in-concert parties as defined in “Measures for the Administration of the Takeover of Listed
the above-mentioned Co mpanies” . It is unknown to the Co mpany whether there is any other related parties or
shareholders action-in-concert parties as defined in “Measures for the Administration of the Takeover of Listed
Co mpanies”among the above-mentioned shareholders.
Bengang Group Co., Ltd. holds 182,842,883 shares of the company through an ordinary
securities account, and holds 554,528,649 shares through asset management plan, therefore, it
Shareholders among the top 10
holds a total of 737,371,532 shares. Zhang Wenyou holds 19,149,967 shares of the company
participating in securit ies
through an investor's credit securities account. Lyu Ruijun holds 5,100 shares of the company
marg in trading (if any)
through an ordinary securities account, and holds 15,000,000 shares of the company through an
investor's credit securities account.
2. Total Number of Preferred Shareholders and Shareholding of Top 10 Preferred
Shareholders
□ Applicable √ Not applicable
III. Other Major Events
√ Applicab le □ Not applicable
On July 15, 2021, the Company's indirect controlling shareholder Bengang Group Co., Ltd. and
Liaoning Provincial Engineering Consulting Group Co., Ltd., Liaoning Provincial Urban and Rural
Construction Group Co., Ltd., and Liaoning Rongda Investment Co., Ltd. signed the "Trust Beneficial
Right Free Transfer Agreement", the Provincial Engineering Consulting Group, the Provincial Urban
and Rural Construction Group, and Liaoning Rongda transferred the relevant trust beneficiary rights
held by them to Bengang Group Co., Ltd. for free. After the completion of this transfer, Bengang
Group and its action-in-concerts party Benxi Steel and Iron (Group) Co., Ltd. held the Company’s
equity shares increased by 14.28% to a total of 76.30%. For details, please refer to the "Reminder
Announcement of Bengang Steel Plates Co., Ltd. on Changes in Shareholders' Equity" disclosed on the
designated information disclosure media by the Company on July 17, 2021.
On July 30, 2021, the Company’s indirect controlling shareholder Bengang Group Co., Ltd. and
Liaoning Communications Investment Co., Ltd. signed the “Listed Company Shares Free Transfer
Agreement”. Liaoning Communications Investment Co., Ltd. transferred 182,842,883 shares of the
Company to Bengang Group for free. After this transfer, Bengang Group and its action-in-concerts
party Benxi Steel and Iron (Group) Co., Ltd. held the Company’s equity shares increased by 4.71% to a
total of 81.00%. For details, please refer to the "Reminder Announcement of Bengang Steel
Plates Co., Ltd. on the Gratuitous Transfer of Part of the State-owned Equity and Changes in
Shareholders' Equity" disclosed on the designated information disclosure media by the Company on
July 31, 2021.
On August 16, 2021, the indirect controlling shareholder of the Company completed the above two
registration procedures for free transfer. Bengang Group directly holds 182,842,883 shares of the
Company, accounting for 4.71% of the Company’s total share capital, through CCB Fund-Industrial
and Commercial Bank of China -China Resources Shenzhen Investment-China Resources Trust
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2021
Xingsheng No. 5 Collective Fund Trust Plan, China Life Security Fund-Industrial and Commercial
Bank of China-China Life Security-Huaxin Trust Dingzeng No. 10 Asset Management Plan, Beixin
Ruifeng Fund-China Merchants Bank-Beixin Ruifeng Fund Fengqing No. 229 asset management plan
indirectly holds 554,528,649 shares of the Company, accounting for 14.28% of the Company’s total
share capital, and holding 2,409,628,094 shares of the Company through its holding subsidiary Benxi
Steel and Iron (Group) Co., Ltd., accounting for 62.02% of the Company's total share capital. The
shares held by Bengang Group and Benxi Steel and Iron in the Company account for a total of 81.00%
of the Company's issued shares. For details, please refer to the "Announcement on Completion of
Transfer Registration for Free Transfer of State-Owned Shares of Company Shareholders" disclosed by
the Company on the designated information disclosure media on August 20, 2021.
On April 15, 2021, the company received a notice from the indirect controlling shareholder Bengang
Group Co., Ltd. that it was informed that Ansteel Group Co., Ltd. is planning to reorganize the
Bengang Group, which may lead to changes in the company's control rights. The reorganization is still
in the planning stage, and the approval of relevant departments is still required after the plan is
finalized. For details, please refer to the "Indicative Announcement on the Strategic Restructuring of
the Indirect Controlling Shareholder Bengang Group Co., Ltd." published on the designated
information disclosure media by the company on April 15, 2021.
On August 18, 2021, the State-owned Assets Supervision and Administration Commission of the State
Council and the People's Government of Liaoning Province jointly issued a notice agreeing that
Ansteel Group Co., Ltd. will reorganize Bengang Group Co., Ltd., and the Liaoning Provincial
State-owned Assets Supervision and Administration Commission will transfer 51% equity of Bengang
Group to Ansteel Group for free. The transfer still needs to perform the necessary procedures, and there
is still uncertainty about whether the relevant approval can be obtained and whether the transfer can be
implemented smoothly. For details, please refer to the Announcement “Approval by the State-owned
Assets Supervision and Administration Commission of the State Council and the People's Government
of Liaoning Province on the free transfer of 51% equity of Bengang Group by its indirect controlling
shareholder” published on the designated information disclosure media by the company on August 19,
2021 ".
On August 20, 2021, the State-owned Assets Supervision and Administration Commission of the
People's Government of Liaoning Province, indirect controlling shareholder of the company and with
80% of the Bengang Group’s share, and Ansteel Group Co., Ltd., which is 100% owned by the
State-owned Assets Supervision and Administration Commission of the State Council signed the
agreement: "Agreement on the Gratuitous Transfer of State-owned Equity of Bengang Group Co., Ltd.
between the State-owned Assets Supervision and Administration Commission of the People's
Government of Liaoning Province and Ansteel Group Co., Ltd.". According to the agreement, the
State-owned Assets Supervision and Administration Commission of Liaoning Province will transfer its
51% equity in Bengang Group to Ansteel Group for free. After the completion of this transfer, Ansteel
Group will become the controlling shareholder of Bengang Group. Ansteel Group indirectly controls
81.07% of the company’s shares through Bengang Group, Benxi Iron and Steel (Group) Co., Ltd. and
Ansteel Group Capital Holding Co., Ltd. For details, please refer to relevant announcement “About the
Free Transfer of 51% equity in Bengang Group from the State-owned Assets Supervision and
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2021
Administration Commission of the People’s Government of Liaoning Province to Ansteel Group Co.,
Ltd. and Indicative Announcement of Ansteel Group Becoming the Company’s Indirect Contro lling
Shareholder”、“Condensed Statement of Changes in Equity”and“the Acquisition Report”published
on the designated information disclosure media on August 21, 2021 and August 24, 2021.
On October 12, 2021, the Company handled the business and commerce change registration procedures.
Ansteel Group Co., Ltd. is the holding shareholder of Bengang Group Co., Ltd., and indirectly holds
the Company’s 76.67% shares through Bengang Group Co., Ltd., Benxi Steel and Iron (Group) Co.,
Ltd., and Ansteel Group Capital Holdings Co., Ltd. Benxi Steel and Iron (Group) Co., Ltd. holds 58.65%
of the Company’s share and is still the company's direct controlling shareholder. For details, please
refer to “Announcement on the transfer of 51% equity of Bengang Group Co., Ltd. to Ansteel Group
Co., Ltd. for free from the State-owned Assets Supervision and Administration Commission of the
People's Government of Liaoning Province and change of business registration and Ansteel Group has
become the Company’s Indirect Controlling Shareholder” disclosed on the designated information
disclosure media by the Company on October 13, 2021.
IV. Quarterly Financial Statements
1. Financial Statements
(1) CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Prepared by: Bengang Steel Plates Co., Ltd.
Unit: Yuan
th st
Items Sep 30 , 2021 Dec 31 , 2020
Current assets:
Cash at bank and on hand 10,080,139,668.54 13,126,666,915.26
Settlement provisions
Capital lent
Financial assets held for trading
Derivative financial assets
Notes receivable
Accounts receivable 228,758,480.20 245,217,182.66
Accounts receivable financing 6,263,850,964.34 4,189,977,871.92
Prepayments 2,189,540,560.96 2,108,044,777.65
Premiu m receivable
Reinsurance accounts receivable
Receivable deposit for reinsurance
contract
Other receivables: 139,699,442.16 142,101,351.27
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2021
Items Sep 30th , 2021 Dec 31s t, 2020
Including: Interest receivables
Dividend receivables
Redemptory financial assets for sale
Inventories 10,942,381,569.72 9,040,065,342.65
Contract assets
Assets classified as held for sale
Non-current assets due within one year
Other current assets 5,648,602,000.48 5,523,646,836.01
Total current assets 35,492,972,686.40 34,375,720,277.42
Non-current assets:
Loan and advances issued
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 3,024,013.88 2,742,064.73
Other equity instrument investments 1,042,024,829.00 1,042,024,829.00
Other non-current financial assets
Investment properties
Fixed assets 25,278,314,427.01 26,284,567,956.44
Construction in progress 2,607,076,937.56 1,839,933,715.58
Productive biological assets
Oil and gas assets
Right of use assets 1,494,873,912.99 0.00
Intangible assets 299,766,591.44 264,932,652.54
Develop ment expenditure
Goodwill
Long-term deferred expenses
Deferred tax assets 199,553,629.68 201,708,932.84
Other non-current assets 834,875,615.36 995,840,320.65
Total non-current assets 31,759,509,956.92 30,631,750,471.78
Total assets 67,252,482,643.32 65,007,470,749.20
Current Liabilities:
Short-term loans 7,971,523,080.00 10,067,731,000.00
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2021
Items Sep 30th , 2021 Dec 31s t, 2020
Loan fro m central bank
Absorbed deposit and interbank deposit
Financial liabilities held for trading
Derivative financial liabilit ies
Notes payable 5,538,169,802.42 9,814,149,348.42
Accounts payable 5,546,537,956.80 5,914,228,256.82
Advance from customers
Contract Liabilit ies 7,196,202,225.99 4,458,671,819.90
Financial assets sold for repurchase
Deposits from customers and interbank
Acting trading securities
Acting underwriting securities
Emp loyee benefits payable 35,651,981.96 25,749,485.25
Current tax liabilit ies 455,898,707.17 55,302,080.96
Other payables 2,455,666,846.20 709,448,301.92
Including: Interest payables
Dividend payables
Handling charges and commission
payable
Reinsurance accounts payable
Liabilit ies held for sale
Non-current liabilit ies due within one
51,947,695.58 1,308,030,361.43
year
Other current liabilities 935,506,289.38 579,627,336.58
Total current liabilities 30,187,104,585.50 32,932,937,991.28
Non-current liabilities:
Provision for insurance contract
Long-term loans 4,579,118,668.08 3,502,934,427.65
Bonds payable 4,822,914,012.92 5,752,229,339.52
Including: Preferred stock
Perpetual bond
Lease liab ilit ies 1,561,248,844.56 0.00
Long-term payables 1,633,651,296.25 1,114,232,362.74
Long-term emp loyee benefits payables
12
Bengang Steel Plates Co., Ltd. Third Quarter Report 2021
Items Sep 30th , 2021 Dec 31s t, 2020
Estimated liabilit ies
Deferred inco me 107,319,194.89 154,451,833.23
Deferred tax liab ilities
Other non-current liab ilities
Total non-current liab ilit ies 12,704,252,016.70 10,523,847,963.14
Total liabilities 42,891,356,602.20 43,456,785,954.42
Shareholders’ equity:
Share cap ital 4,108,157,357.00 3,875,371,532.00
Other equity instruments 947,914,214.97 1,146,290,662.42
Including: Preferred stock
Perpetual bond
Capital reserves 13,272,014,325.94 12,343,209,847.29
Less: treasury shares
Other co mprehensive inco me
Special reserves 22,331,804.29 300,412.14
Surp lus reserves 961,105,529.85 961,105,529.85
General risk reserves
Undistributed profits 4,488,203,283.77 2,692,018,405.40
Total equity attributable to equity holders of
23,799,726,515.82 21,018,296,389.10
the parent company
Non-controlling interests 561,399,525.30 532,388,405.68
Total shareholder’s equity 24,361,126,041.12 21,550,684,794.78
Total liabilities and shareholder’s equity 67,252,482,643.32 65,007,470,749.20
Legal Representative: Gao Lie Person in charge of accounting: Lin Dong Accounting Dept. Leader: Li Xiaowei
(2) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FROM THE BEGINNING OF
THE YEAR TO THE END OF THE CURRENT REPORTING PERIOD
Unit: Yuan
Items The Current Period The Previous Period
1. Total operating inco me 61,427,400,512.67 34,851,837,404.98
Including: Operat ing inco me 61,427,400,512.67 34,851,837,404.98
Interest income
Premiu m earned
Inco me fro m handling charges
13
Bengang Steel Plates Co., Ltd. Third Quarter Report 2021
Items The Current Period The Previous Period
and commission
2. Total operating cost 56,367,721,090.19 34,609,468,735.28
Including: Operat ing cost 54,691,627,964.85 32,609,871,008.54
Interest cost
Expenditure for handling charges
and commission
Surrender value
Net expenditure for co mpensation
Net provision for insurance
contract appropriated
Bonus payment for policy
Reinsurance premiu m
Taxes and surcharges 365,653,671.57 141,762,794.46
Selling and distribution expenses 98,415,483.34 897,523,316.86
General and ad min istrative
645,762,206.23 581,349,923.65
expenses
Research and development
36,192,795.55 29,262,450.81
expenses
Financial expenses 530,068,968.65 349,699,240.96
Including: interest expenses 815,172,965.12 700,850,334.78
Interest incomes 297,771,911.33 245,883,963.84
Add: Other inco mes 48,806,758.34 57,452,382.09
Income on investment ("-" for loss) 2,610,325.33 106,546.47
Including: Income fro m associates and
281,949.15 29,304.00
joint ventures
Inco me fro m derecognition
of financial assets measured at amo rtised cost
Exchange Income ("-" for loss)
Hedging inco me fro m net exposure (“-"
for loss)
Gains fro m the change in fair value (“-"
for loss)
Expected credit losses (“-" for loss) 2,049,977.83 4,881,916.63
Asset impairment losses (“-" for loss) 6,629,442.12 33,104,544.46
Assets disposal gains（“-” for loss） 130,675.05 394,334.81
14
Bengang Steel Plates Co., Ltd. Third Quarter Report 2021
Items The Current Period The Previous Period
3. Operating profit ("-" for loss) 5,119,906,601.15 338,308,394.16
Add: Non-operating inco me 4,758,875.68 1,744,482.36
Less: Non-operating expenses 35,285,298.89 20,275,186.23
4. Total profit ("-" for loss) 5,089,380,177.94 319,777,690.29
Less: Income tax expenses 1,283,381,274.28 31,610,231.55
5. Net Pro fit ("-" for loss) 3,805,998,903.66 288,167,458.74
(1) Classification by continuing
operating
1 Net profit fro m continuing
3,805,998,903.66 288,167,458.74
operation ("-" for loss)
2 Net profit fro m discontinued
operation ("-" for loss)
(2) Classification by ownership
1 Net profit attributable to the
3,777,468,896.19 283,509,289.10
owners of parent company
2 Net profit attributable to
28,530,007.47 4,658,169.64
non-controlling shareholders
6. Other co mprehensive income after tax
Other co mprehensive income attributable to
owners of parent company after tax
1) Other co mprehensive income items
that will not be reclassified into gains/losses
(1) . Re-measurement of defined
benefit plans of changes in net debt or net
assets
(2) . Other co mprehensive income
under the equity method cannot be reclassified
into profit or loss
(3). Changes of fair value of other
equity instrument investments
(4). Changes in the fair value of
the company's own credit risk
(5). Others
2) Other co mprehensive income that will
be reclassified into profit or loss
(1) . Other co mprehensive income
under the equity method can be reclassified
15
Bengang Steel Plates Co., Ltd. Third Quarter Report 2021
Items The Current Period The Previous Period
into profit or loss
(2). Gains and losses from fair
value changes of other debt investments
(3). Gains and losses resulting
fro m reclassificat ion of financial assets
recognised in other comprehensive income
(4). Credit impairment losses of
other debt investments
(5). Effective portion of gains or
losses from cash flow hedging
(6). Translation differences in
foreign currency financial statements
(7). Others
Other co mprehensive income attributable to
non-controlling shareholders after tax
7. Total co mprehensive income 3,805,998,903.66 288,167,458.74
Total co mprehensive inco me attributable
3,777,468,896.19 283,509,289.10
to owners of parent company
Total co mprehensive inco me attributable
28,530,007.47 4,658,169.64
to non-controlling shareholders
8. Earnings per share:
1) Basic earn ings per share 0.92 0.07
2) Diluted earnings per share 0.92 0.07
The current business combination under co mmon control, the net p rofits of the co mbined party before achieved: Yuan, net profit
of previous period of the combined party realized : Yuan.
Legal Representative: Gao Lie Person in charge of accounting: Lin Dong Accounting Dept. Leader: Li Xiaowei
(3) CONSOLIDATED STATEMENT OF CASH FLOWS FROM THE BEGINNING OF THE YEAR TO
THE END OF THE CURRENT PERIOD
Unit: Yuan
Items The Current Period The Previous Period
1. Cash flo w fro m operating activ ities:
Cash received fro m sale o f goods or
41,226,627,487.11 25,444,022,450.66
rendering of services
Net increase of customers’ deposit and
interbank deposit
Net increase of loan fro m central bank
16
Bengang Steel Plates Co., Ltd. Third Quarter Report 2021
Items The Current Period The Previous Period
Net increase of loans fro m other
financial institutions
Cash received for premiu m o f original
insurance contract
Net cash received for reinsurance
business
Net increase of deposit and investment
of the insured
Net increase of Financial assets at fair
value through profit or loss
Cash fro m receiving interest, handling
charge and commission
Net increase of loans fro m other
financial institutions
Net increase of fund for buy-back
business
Tax rebate received 70,165,628.03 387,294,316.80
Other cash received relating to
149,425,573.60 168,025,766.48
operating activities
Subtotal of cash inflow received fro m
41,446,218,688.74 25,999,342,533.94
operation activities
Cash paid for goods and services 35,777,429,779.80 24,909,229,260.23
Net increase of customer’s loan and
advances
Net increase of deposit in central bank
and interbank deposit
Cash for payment of co mpensation for
original insurance contract
Net increase in funds lent
Cash for payment of interest, handling
charge and commission
Cash for payment of policy bonus
Cash paid to and on behalf of
1,636,542,380.28 1,408,629,415.56
emp loyees
Cash paid for all types of taxes 2,215,055,970.80 758,524,302.98
Other cash paid relating to operating
273,369,870.48 330,588,899.59
activities
17
Bengang Steel Plates Co., Ltd. Third Quarter Report 2021
Items The Current Period The Previous Period
Subtotal of cash outflow received fro m
39,902,398,001.36 27,406,971,878.36
operation activities
Net cash flows generated fro m operating
1,543,820,687.38 -1,407,629,344.42
activities
2. Cash flo ws fro m investing activities:
Cash received fro m return on
6,100,000,000.00
investments
Cash received fro m d istribution of
2,328,376.18
dividends or profit
Net cash received fro m disposal of
fixed assets, intangible assets and other 5,030.00
long-term assets
Net cash received fro m disposal of
subsidiary and other operating units
Other cash paid relating to investing
activities
Subtotal of cash inflow received fro m
6,102,333,406.18
investing activities
Cash paid for acquisition of fixed
assets, intangible assets and other long-term 1,792,294,739.50 1,765,038,590.65
assets
Cash paid for acquisition of investments 6,200,000,000.00
Net increase of mortgage loan
Net cash received fro m subsidiary and
other operating unit
Other cash paid relating to investing
activities
Subtotal of cash outflows fro m investing
7,992,294,739.50 1,765,038,590.65
activities
The net cash flow generated by investment
-1,889,961,333.32 -1,765,038,590.65
activities
3. Cash flo ws fro m financing activities:
Proceeds from investment
Including: Proceeds from investment of
non-controlling shareholders of subsidiary
Proceeds from borrowings 3,701,853,120.80 9,297,194,000.00
Other proceeds relating to financing 6,800,000,000.00
18
Bengang Steel Plates Co., Ltd. Third Quarter Report 2021
Items The Current Period The Previous Period
activities
Subtotal cash inflo w received fro m financing
3,701,853,120.80 16,097,194,000.00
activities
Cash repayments of borrowings 5,980,272,540.16 11,555,411,601.25
Cash payments for distribution of
875,026,918.89 956,166,264.68
dividends, profit or interest expenses
Including: Cash paid to non-controlling
shareholders as dividend and profit by
subsidiaries
Other cash payments relating to
43,549,783.25
financing activit ies
Subtotal of cash outflows fro m financing
6,855,299,459.05 12,555,127,649.18
activities
The net cash flow generated by financing
-3,153,446,338.25 3,542,066,350.82
activities
4. Effect of foreign exchange rate changes on
-15,919,852.00 -12,482,658.90
cash and cash equivalents
5. Net increase in cash and cash equivalents -3,515,506,836.19 356,915,756.85
Add: Cash and cash equivalents at the
9,229,417,595.12 13,441,414,988.58
beginning of the period
6. Cash and cash equivalents at the ending of
5,713,910,758.93 13,798,330,745.43
the period
2. Adjustments of Financial Statements
(1) Adjustments of beginning balance due to the first-time implementation of new lease standard from 2021
√ Applicable □ Not applicable
Whether to adjust the balance sheet accounts at the beginning of the year
√ Applicable □ Not applicable
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Unit: yuan
st st
Items Dec 31 ,2020 Jan 1 , 2021 Adjustment amount
Current assets:
Cash at bank and on hand 13,126,666,915.26 13,126,666,915.26
Settlement provisions
Capital lent
Financial assets held for trading
19
Bengang Steel Plates Co., Ltd. Third Quarter Report 2021
Items Dec 31s t ,2020 Jan 1st , 2021 Adjustment amount
Derivative financial assets
Notes receivable
Accounts receivable 245,217,182.66 245,217,182.66
Accounts receivable financing 4,189,977,871.92 4,189,977,871.92
Prepayments 2,108,044,777.65 2,108,044,777.65
Premiu m receivable
Reinsurance accounts receivable
Receivable deposit for
reinsurance contract
Other receivables: 142,101,351.27 142,101,351.27
Including: Interest receivables 33,685,359.01
Dividend receivables
Redemptory financial assets for
sale
Inventories 9,040,065,342.65 9,040,065,342.65
Contract assets
Assets classified as held for sale
Non-current assets due within
one year
Other current assets 5,523,646,836.01 5,523,646,836.01
Total current assets 34,375,720,277.42 34,375,720,277.42
Non-current assets:
Loan and advances issued
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 2,742,064.73 2,742,064.73
Other equity instrument
1,042,024,829.00 1,042,024,829.00
investments
Other non-current financial assets
Investment properties
Fixed assets 26,284,567,956.44 26,284,567,956.44
Construction in progress 1,839,933,715.58 1,839,933,715.58
Productive biological assets
20
Bengang Steel Plates Co., Ltd. Third Quarter Report 2021
Items Dec 31s t ,2020 Jan 1st , 2021 Adjustment amount
Oil and gas assets
Right of use assets 0.00 1,541,868,510.81 1,541,868,510.81
Intangible assets 264,932,652.54 264,932,652.54
Develop ment expenditure
Goodwill
Long-term deferred expenses
Deferred tax assets 201,708,932.84 201,708,932.84
Other non-current assets 995,840,320.65 995,840,320.65
Total non-current assets 30,631,750,471.78 32,173,618,982.59
Total assets 65,007,470,749.20 66,549,339,260.01
Current Liabilities:
Short-term loans 10,067,731,000.00 10,067,731,000.00
Loan fro m central bank
Absorbed deposit and interbank
deposit
Financial liabilities held for
trading
Derivative financial liabilit ies
Note payables 9,814,149,348.42 9,814,149,348.42
Account payables 5,914,228,256.82 5,914,228,256.82
Advance from customers
Contract liab ilities 4,458,671,819.90 4,458,671,819.90
Financial assets sold for
repurchase
Deposits from customers and
interbank
Acting trading securities
Acting underwriting securities
Emp loyee benefits payable 25,749,485.25 25,749,485.25
Current tax liabilit ies 55,302,080.96 55,302,080.96
Other payables 709,448,301.92 709,448,301.92
Including: Interest payables
Dividend payables
21
Bengang Steel Plates Co., Ltd. Third Quarter Report 2021
Items Dec 31s t ,2020 Jan 1st , 2021 Adjustment amount
Handling charges and
commission payable
Reinsurance accounts payable
Liabilit ies held for sale
Non-current liabilit ies due within
1,308,030,361.43 1,346,929,023.45 38,898,662.02
one year
Other current liabilities 579,627,336.58 579,627,336.58
Total current liabilities 32,932,937,991.28 32,971,836,653.30
Non-current liabilities:
Provision for insurance contract
Long-term loans 3,502,934,427.65 3,502,934,427.65
Bonds payable 5,752,229,339.52 5,752,229,339.52
Including: Preferred stock
Perpetual bond
Lease liab ilit ies 0.00 1,502,969,848.79 1,502,969,848.79
Long-term payables 1,114,232,362.74 1,114,232,362.74
Long-term emp loyee benefits
payables
Estimated liabilit ies
Deferred inco me 154,451,833.23 154,451,833.23
Deferred tax liab ilities
Other non-current liab ilities
Total non-current liab ilit ies 10,523,847,963.14 12,026,817,811.93
Total liabilities 43,456,785,954.42 44,998,654,465.23
Shareholders’ equity:
Share cap ital 3,875,371,532.00 3,875,371,532.00
Other equity instruments 1,146,290,662.42 1,146,290,662.42
Including: Preferred stock
Perpetual bond
Capital reserves 12,343,209,847.29 12,343,209,847.29
Less: treasury shares
Other co mprehensive inco me
Special reserves 300,412.14 300,412.14
Surp lus reserves 961,105,529.85 961,105,529.85
22
Bengang Steel Plates Co., Ltd. Third Quarter Report 2021
Items Dec 31s t ,2020 Jan 1st , 2021 Adjustment amount
General risk reserves
Undistributed profits 2,692,018,405.40 2,692,018,405.40
Total equity attributable to equity
21,018,296,389.10 21,018,296,389.10
holders of the parent company
Non-controlling interests 532,388,405.68 532,388,405.68
Total shareholder’s equity 21,550,684,794.78 21,550,684,794.78
Total liabilities and shareholder’s
65,007,470,749.20 66,549,339,260.01
equity
Notes:
(2) Retroactive adjustment due to the first time implementation of the new lease standards
□ Applicable √ Not applicable
3. Audit report
Whether the third quarter report is audited
□ Yes √ No
The third quarter report is not audited.
Board of Directors of Bengang Steel Plates Co., Ltd.
23
