WEIFU HIGH-TECHNOLOGY GROUP CO., LTD.
SEMI-ANNUAL REPORT 2012
(Full-Text)
August 2012
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Contents
Section I. Important Notice ………………………………………………….…3
Section II. Company Profile ……………………………………………………4
Section III. Major accounting data and business abstract…………………………5
Section IV. Changes in Share Capital and Particular about Shareholders ……...8
Section V. Directors, Supervisors and Senior Executives …………………… 13
Section VI. Report of the Board ……………………………….…….…… 17
Section VII. Significant Events………………………………………………..26
Section VIII. Financial Report … …………………………………………… 46
Section IX. Document Available for References …………………………… 148
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
I Important Notice
The Board of Directors and its directors, Supervisory Committee and its supervisors, senior
executives of WEIFU HIGH-TECHNOLOGY GROUP CO.,LTD. (hereinafter referred to as the
Company) hereby confirm that there are no false recordation, misleading statements or material
omissions carried in this report, and shall take all responsibilities, individually and/or jointly, for the
reality, accuracy and completeness of the whole contents.
Except for the follow directors, others are present the meeting of the Board for deliberating the
semi-annual report of the Company
Name of director not Title of director not
Reasons for absent Trustee
attended in person attended in person
Rudolf Maier Deputy chairman Due to business Chen Xuejun
Chen Yudong Director Due to business Chen Xuejun
Unaudited
Chen Xuejun, person in charge of the Company, Ou Jianbin, person in charge of accounting works
as well as person in charge of accounting institution (accounting officer) Ou Jianbin hereby confirm
the truthfulness and completeness of the Financial Report in the Semi-annual Report 2012.
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
II. Company Profile
(I) Company information
Code for A-share 000581 Code for B-share 200581
Short form for A-share Weifu High- Tech Short form for B-share Su Weifu-B
Listing stock exchange Shenzhen Stock Exchange
Legal Chinese name of
无锡威孚高科技集团股份有限公司
the Company
Abbr. of legal Chinese
威孚高科
name of the Company
Legal English name of the
WEIFU HIGH-TECHNOLOGY GROUP CO.,LTD.
Company
Abbr. of legal English
WFHT
name of the Company
Legal Representative Chen Xuejun
Registered Add. No.5, Huashan Road, New District, Wuxi City
Post Code of registered
214028
add.
Office Add. No.107, Renmin West Road, Wuxi City
Post Code of office add. 214031
Internet website http://www.weifu.com.cn
E-mail Web @ weifu.com.cn
(II) Contact person and ways
Secretary of the Board Rep. of security affairs
Name Zhou Weixing Yan Guohong
Contact adds. No.107, Renmin West Road, Wuxi City No.107, Renmin West Road, Wuxi City
Tel. 0510-82719579 0510-82719579
Fax. 0510-82751025 0510-82751025
E-mail wfjt@public1.wx.js.cn wfjt@public1.wx.js.cn
(III) Information disclosure and place for preparation
Newspapers Designated for indormation Securities Times,China Securities Journal and Hong Kong
disclosure Comercial Daily
Website desinated by CSRC for publishing
http://www.cninfo.com.cn
semi-annual report
place for preparation of semi-annual report Office of the Board of Directors of the Company
4
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
III. Major accounting data and business abstract
(I) Major accounting data and financial indexes
Whether retroactive adjusted on previous financial report or not
□Yes √ No □Non-applicable
Major accounting data
Reporting period Increase/decrease in
Same period of last
Major accounting data this report period
(Jan. to June) year
year-on-year (%)
Total business revenue(RMB) 2,622,741,134.00 3,277,559,746.96 -19.98%
Business profit(RMB) 532,366,338.60 766,609,381.92 -30.56%
Total profit(RMB) 533,340,367.05 769,696,904.66 -30.71%
Net profit attributable to shareholders of the
446,281,174.98 644,663,629.50 -30.77%
listed company (RMB)
Net profit attributable to shareholders of the
listed company after deducting 443,915,741.43 639,380,620.02 -30.57%
non-recurring gains and losses(RMB)
Net cash flow arising from operating
437,635,548.02 53,803,389.19 713.4%
activities(RMB)
Increase/decrease in
End of this report End of last report
this period-end over
period period
that of last year (%)
Total assets(RMB) 10,781,281,378.01 7,929,217,436.19 35.97%
Owners’ equity attributable to shareholders
8,233,666,830.76 5,064,060,401.35 62.59%
of the listed company(RMB)
Share capital(Share) 680,133,995.00 567,275,995.00 19.89%
Major financial indexes
Reporting Increase/decrease in
period Same period
Major financial indexes this report period
of last year
(Jan. to June) year-on-year (%)
Basic earnings per share (RMB/Share) 0.69 1.14 -39.47%
Diluted earnings per share (RMB/Share) 0.69 1.14 -39.47%
Basic EPS after deducting non-recurring gains/losses
0.69 1.13 -38.94%
(RMB/Share)
Fully diluted ROE (%) 5.42% 14.31% -8.89%
Weighted average ROE (%) 6.18% 14.56% -8.38%
Fully diluted ROE after deducting non-recurring
5.39% 14.2% -8.81%
gains/losses (%)
Weighted average ROE after deducting non-recurring
6.14% 14.44% -8.3%
gains/losses (%)
Net cash flow per share arising from operating activities
0.64 0.095 573.68%
(RMB/Share)
End of this End of last Increase/decrease in
report period report period this period-end over
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
that of last year (%)
Net assets per share attributable to shareholder of listed
12.11 8.93 35.61%
company (RMB/ Share)
Asset-liability ratio (%) 21.05% 32.65% -11.6%
Explanation on previous major accounting data and financial indexes at period-end (filling the adjustment explanation if retroactive
adjusted)
In reporting period, total assets increase 35.97% over that of period-end of last year, owners’ equity attributable to shareholders of
listed company increase 62.59% over that of period-end of last year and net assets per share attributable to shareholders of listed
company increase 35.61% over that of period-end of last year, main reasons are: the privately offering of the Company issued
112.858 million shares in this period and net amount of 2,850,124,252.93 yuan are raised.
(II) Difference of accounting data under CAS and IAS
1. Difference of net profit and net assets disclosed in financial report based on IAS and CAS
√Applicable □Non-applicable
Unit: RMB
Net profit attributable to Owners’ equity attributable to
shareholders of listed company shareholders of listed company
Amount in Amount in
This report period Last report period
period-end period-begin
CAS 446,281,174.98 644,663,629.50 8,233,666,830.76 5,064,060,401.35
Sub-items and total adjusted based on IAS:
IAS 446,281,174.98 644,663,629.50 8,233,666,830.76 5,064,060,401.35
2. Difference of net profit and net assets disclosed in financial report based on foreign
accounting standards and CAS
□ Applicable √ Non-applicable
3. Detail items for major differences
Explanation on IAS
Items with major
Amount involved (RMB) Reasons for differences and(or) foreign accounting
differences
standards involved
4. Explanation on accounting data difference under the foreign/domestic accounting
standards
No differences
(III) Item and amount with non-recurring gains/losses deducted
√Applicable □Non-applicable
Items Amount (RMB) Note
Gains and losses from disposal of non-current assets 1,833,344.49
Tax refund or exemption out of authorization, with absence of official
approval document or accidentally
Governmental subsidy calculated into current gains and losses(while closely
related with the normal business of the Company, excluding the fixed-amount 1,323,000.00
or fixed-proportion governmental subsidy according to the unified national
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
standard)
Fund occupation expenses received from non-financial enterprises that reckon
into current gains/losses
Income occurred when investment cost paid by enterprise for obtaining
subsidiaries, associates and joint ventures are lower than its share in fair
value of net realizable assets of invested units
Gains and losses from exchange of non-monetary assets
Gains and losses from entrusted investment or management assets
Various asset impairment reserve provided for force majeure, such as natural
disaster;
Gains/losses from debt reorganization
Reorganization expenses, such as expenditure for allocation of employees and
integration fee
Gains and losses from excess of transaction which are conducted on a
non-fair-valued basis over its fair value
Current net gains and losses of subsidiaries occurred from combination under
the same control commencing from period-begin to combination date
Gains and losses from contingent events which has no relation with normal
business of the Company
Gains and losses from change of fair values of held-for-transaction financial
assets and financial liabilities except for the effective hedge business related
to normal business of the Company, and investment income from disposal of
transactional financial assets and liabilities and financial assets available for
sale
Reversal of impairment reserve for account receivable with separate
impairment testing
gains/ losses from external entrustment loans
Gains and losses arising from change of fair value of investment properties
whose follow-up measurement are at fair value
Affect upon current gains/losses arising from the one-off adjustment in subject
to requirement of laws and rules in relation to taxation and accounting
Income from entrusted custody operation
Other non-operating income and expenditure except the abovementioned 514,617.77
Other item that satisfied the definition of non-recurring gains and losses
Influenced amount of minority shareholders’ equity -565,747.45
Impact on income tax -739,781.26
Total 2,365,433.55 --
Explanation on “Other item that satisfied the definition of non-recurring gains and losses” and defined non-recurring gains and losses
as recurring gain/loss according to natures and characteristic of self-operation status
Amount involved
Item Note
(RMB)
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
IV. Changes in Share Capital and Particular about Shareholders
(I) Changes in share capital
1. Statement of changes in shares
√Applicable □Non-applicable
Before the Changes Increase/Decrease in the Change (+, -) After the Changes
Public
Proporti Newly- Bonus reserve-co Proport
Amount Others Subtotal Amount
on (%) issued shares shares nverted ion (%)
shares
I. Restricted shares 71,708,575 12.64% 112,858,000 -28,356,281 84,501,719 156,210,294 22.97%
1. State-owned shares
2. State-owned legal
71,658,199 12.63% 36,017,600 -28,363,800 7,653,800 79,311,999 11.66%
person’s shares
3. Other domestic shares
Including: Domestic
legal person’s shares
Domestic natural
person’s shares
4. Foreign shares 76,840,400 76,840,400 76,840,400 11.3%
Including: Foreign legal
76,840,400 76,840,400 76,840,400 11.3%
person’s shares
Foreign natural person’s
shares
5. Senior executives’
50,376 0.01% 7,519 7,519 57,895 0.01%
shares
II. Unrestricted shares 495,567,420 87.36% 28,356,281 28,356,281 523,923,701 77.03%
1. RMB Ordinary shares 380,647,420 67.1% 28,356,281 28,356,281 409,003,701 60.14%
2. Domestically listed
114,920,000 20.26% 114,920,000 16.9%
foreign shares
3. Overseas listed
foreign shares
4. Others
III. Total shares 567,275,995 100% 112,858,000 112,858,000 680,133,995 100%
Approval of changes in shares (if applicable)
On 21 January 2012, being approved by CSRC “Approval of Reply on Privately Offering of WEIFU HIGH-TECHNOLOGY
GROUP CO.,LTD” (ZJXK [2012] No.109), the Company offering no more than 112,858,000 new shares in total.
Ownership transfer of changed shares
The privately offering of the Company totally issue 112,858,000 shares to two objects Wuxi Industry Development Group Co., Ltd.
and ROBERT BOSCH GMBH (German Robert Bosch Co., Ltd.), the shares have completed registration and trusteeship procedures
in Shenzhen Branch of China Securities Depository and Clearing Corporation Limited on 17 February 2012. The above said shares
are listed for trading in Shenzhen Stock Exchange since 29 February 2012 with 36-month restriction; listing date predicted as 1
March 2015 (postpone for non-trading day).
Influence from changed shares on latest financial indexes as EPS and net assets per shares (if applicable)
Share capital of the Company increase to 680,133,995 shares from 567,275,995 shares.
As at end of reporting period, EPS diluted to 0.69 yuan from 0.7867 yuan due to the privately offering; net assets per share increase
to 12.11 yuan from 9.49 yuan.
Other content necessary to disclosed by the Company or should be disclosed according to requirement from security supervision
institution
Nil
2. Changes in restricted shares
√Applicable □Non-applicable
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Restricted
Restricted Restricted
Shares unlock shares Reasons for Date for
Name of shareholders shares in shares at
in this year increased in restriction unlock
this year year-end
this year
WUXI INDUSTRY Commitment
DEVELOPMENT 71,658,199 -28,363,800 43,294,399 of share merger 2012-4-27
CROUP CO., LTD. reform
WUXI INDUSTRY 36 months
DEVELOPMENT 36,017,600 36,017,600 restricted trade 2015-3-1
CROUP CO., LTD. period
36 months
ROBERT BOSCH
76,840,400 76,840,400 restricted trade 2015-3-1
GMBH
period
Lock-up shares
Senior executives’
50,376 7,519 57,895 for senior
shares
executives
Lock-up shares
Including: Xu Yunfeng 1,500 1,500 for new senior 2012-12-31
executives
Lock-up for
senior
Wang Weiliang 9,505 3,168 12,673 2012-11-23
executive
resigned
Lock-up for
senior
Han Jiangming 8,554 2,851 11,405 2012-9-7
executive
resigned
Total 71,708,575 -28,363,800 112,865,519 156,210,294 -- --
(II) Security offering and listing
1. Security offering in previous three years
√applicable □Non-applicable
Name of
Numbers for
Stocks and Offering price The issuing
Offering date Listing date listing Dead deal date
derivative RMB/Share) numbers
authorized
securities
Stock
Privately
2012-02-07 25.395 112,858,000 2012-02-29 112,858,000
offering
Convertible corporate bonds, warrant-bond and corporate bond
Warrant
Explanation of securities offering in previous three years (explaining those bond owes different rate in duration
respectively)
On 21 January 2012, being approved by CSRC “Approval of Reply on Privately Offering of WEIFU HIGH-TECHNOLOGY
GROUP CO.,LTD” (ZJXK [2012] No.109), the Company offering no more than 112,858,000 new shares in total.
The privately offering of the Company totally issue 112,858,000 shares to two objects with offering price of 25.395 yuan per share
for 2866.0289 million yuan collected. The above said shares are listed for trading in Shenzhen Stock Exchange since 29 February
2012 with 36-month restriction; listing date predicted as 1 March 2015.
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
2. Changes of total shares and structures as well as outcome of asset-liability structures
√applicable □Non-applicable
(1) New 112,858,000 shares increased after privately offering, share capital of the Company increase to 680,133,995 shares currently
from original 567,275,995 shares before offering.
(2) After offering, net assets of the Company gains a sharply growth while asset-liability ratio declined correspondingly; quality of
the assets improve along with the solvency upgrade, which enhancing the development speed of the Company.
3. Current shares held by internal staffs
□applicable √Non-applicable
(III) Shareholders and actual controller
1. Total shareholders at period-end
Till end of reporting period, total shareholders of the Company amounting to 32,042
2. Shares held by top ten shareholders
Particulars about the shares held by the top ten shareholders
Proportion Amount of Shares pledged or
Nature of Total amount of frozen
Shareholders (full name) of shares the restricted
shareholders shares held
held (%) shares held Share status Amount
WUXI INDUSTRY State-owned
DEVELOPMENT CROUP 20% 136,039,599 79,311,999
CO., LTD. legal person
Foreign legal
ROBERT BOSCH GMBH 14% 95,227,600 76,840,400
person
China Construction Bank－ Domestic
Fuguo Tianbo Innovation non-state-own
3.18% 21,600,000
Theme Stock Securities ed legal
Investment Fund person
Foreign legal
GAOLING FUND,L.P. 1.84% 12,502,715
person
GUOTAI JUNAN
Foreign legal
SECURITIES(HONGKONG 1.4% 9,543,714
person
) LIMITED
China Construction Bank – Domestic
China Advantage Growth non-state-own
1.38% 9,381,079
Stock Securities Investment ed legal
Fund person
DRAGON BILLION Foreign legal
1.37% 9,298,922
CHINA MASTER FUND person
AGRICULTURAL BANK Domestic
OF CHINA- Changsheng non-state-own
1.31% 8,942,248
Tongde Theme Growth Stock ed legal
Fund person
Domestic
BOC—Fullgoal Tianyi Value non-state-own
1.14% 7,747,416
Security Investment Fund ed legal
person
China Merchants Bank Co., Domestic 1.09% 7,418,648
Ltd. –Fullgoal Tianhe Stable non-state-own
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Selected Stock Fund ed legal
person
Explanation of shareholders
Particulars about the shares held by the top ten unrestricted shareholders
√applicable □Non-applicable
Amount of unrestricted Type/amount of shares
Shareholders
shares held at period-end Type Amount
WUXI INDUSTRY DEVELOPMENT CROUP CO.,
56,727,600 A-share 56,727,600
LTD.
China Construction Bank－Fuguo Tianbo Innovation
21,600,000 A-share 21,600,000
Theme Stock Securities Investment Fund
ROBERT BOSCH GMBH 18,387,200 B-share 18,387,200
GAOLING FUND,L.P. 12,502,715 B-share 12,502,715
GUOTAI JUNAN SECURITIES(HONGKONG)
9,543,714 B-share 9,543,714
LIMITED
China Construction Bank – China Advantage Growth
9,381,079 A-share 9,381,079
Stock Securities Investment Fund
DRAGON BILLION CHINA MASTER FUND 9,298,922 B-share 9,298,922
AGRICULTURAL BANK OF CHINA- Changsheng
8,942,248 A-share 8,942,248
Tongde Theme Growth Stock Fund
BOC—Fullgoal Tianyi Value Security Investment Fund 7,747,416 A-share 7,747,416
China Merchants Bank Co., Ltd. –Fullgoal Tianhe
7,418,648 A-share 7,418,648
Stable Selected Stock Fund
Explanation on associated relationship among the top ten shareholders or (and) consistent action
Among the top ten shareholders, the Company knew there has no associated relationship between Wuxi Industry Development Croup
Co., Ltd., the first largest shareholder of the Company, and other shareholders; and they do not belong to the consistent actionist
regulated by the Management Measure of Information Disclosure on Change of Shareholding for Listed Company. Fullgoal Tianbo
Innovation Theme Stock Securities Investment Fund, Fullgoal Tianyi Value Securities Investment Fund and Fullgoal Tianhe Stable
Selected Securities Investment Fund shares same fund manager – Fullgoal Fund Management Co., Ltd.
3. Controlling shareholders and actual controller
(1) Changes of controlling shareholders and actual controller
□applicable √Non-applicable
(2) Introduction of controlling shareholders and actual controller
Whether has new controller or not
□Yes √No □Non-applicable
State-owned Assets Supervision & Administration Commission
Name of actual controller
of Wuxi Municipality of Jiangsu Province
Type of actual controller regional SASAC
Explanation:
A shareholder who has the actual holding right to the Company is Wuxi Industry Development Croup Co., Ltd., as well as
state-owned sole enterprise, whose legal representative is Mr. Jiang Guoxiong. The said company was founded on5 October 1995, its
registered capital was 3,388,673,241.46 yuan, and it was mainly engaged in operations of state-owned asset, investment management
of key projects, input and development of manufacturing and service industries, venture investment in transformation of high-tech
achievements, entrusted with enterprise and management which are all within the mandate scope.
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
(3) Block diagram of property rights and controlling relationship between the Company and
actual controller
State-owned Assets Supervision & Administration
Commission of Wuxi Municipality of Jiangsu
Province
100%
Wuxi Industry Development Croup Co.,
Ltd.
20%
Weifu High-Technology Group Co., Ltd.
(4) Actual controller controlling the Company by means of entrust or other assets
management
□applicable √Non-applicable
4. Other legal person’s shareholders with over ten percent shares held
√applicable □Non-applicable
Register
Date of capital
Legal person shares Legal rep. Business scope or management activities Currency
foundation (RMB
10,000)
Development, manufacture and sales of
automotive equipment and engine
equipment; engaged in electro-technical,
electronic technology, machinery
manufacturing and optical system as
Heiko Carrie,
ROBERT BOSCH GMBH 1886-11-15 well as produce iron, metal and plastic 120,000 EUR
Bettina Holzwarth
products and similar commodity. The
company engaged in vary trading
business concerned with its business
scope and established relevant company
concerned with its business scope
As ended as reporting period, 95,227,600 shares (14%) of the Company were held by ROBERT
Explanation
BOSCH GMBH (German Robert Bosch Co., Ltd.), a second largest shareholder of the Company.
(IV) Convertible bonds
□applicable √Non-applicable
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
V. Directors, Supervisors and Senior Executives
(I) Changes of shares held by directors, supervisors and senior executive
Whether
Amount received
Amount Including: Amount of
Shares of shares Shares remuneration
of shares restricted stock option Reasons
Office dated Office dated held at decrease held at from
Name Title Sex Age increase in shares held at for
from ended period-beg d in this period-end shareholders’
this period held period-end changes
in(Share) period (Share) unit or other
(Share) (Share) (Share)
(Share) related unit or
not
Chen Xuejun Chairman M 45 2012-03-07 2015-03-06 3,169 3,169 2,376 No
Wang Xiaodong Vice Chairman & GM M 46 2012-03-07 2015-03-06 521 521 No
Rudolf Maier Vice Chairman M 55 2012-03-07 2015-03-06 Yes
Ge Songping Director M 58 2012-03-07 2015-03-06 25,468 25,468 19,101 Yes
Hua Wanrong Director F 48 2012-03-07 2015-03-06 Yes
Chen Yudong Director M 51 2012-03-07 2015-03-06 Yes
Director、Deputy General Manager
Ou Jianbin M 46 2012-03-07 2015-03-06 No
and financing Charger
Du Fangci Independent Director M 68 2012-03-07 2015-03-06 Non-applicable
Yu Xiaoli Independent Director F 49 2012-03-07 2015-03-06 Non-applicable
Xing Min Independent Director M 58 2012-03-07 2015-03-06 Non-applicable
Zhang Hongfa Independent Director M 48 2012-03-07 2015-03-06 Non-applicable
Chairman of the Supervisory
Shi Xingyuan M 50 2012-03-07 2015-03-06 1,782 1,782 1,336 No
Committee
Gao Guoyuan Supervisor M 58 2012-03-07 2015-03-06 10,297 10,297 7,722 No
Liu Jinjun Supervisor M 37 2012-03-07 2015-03-06 No
Miu Yuming Deputy GM M 48 2012-03-07 2015-03-06 Yes
Wang Yewei Deputy GM M 56 2012-03-07 2015-03-06 No
Xu Yunfeng Deputy GM M 41 2012-03-07 2015-03-06 2,000 2,000 1,500 No
Zhou Weixing Secretary of Board M 49 2012-03-07 2015-03-06 2,377 2,377 1,782 No
Wang Weiliang Director M 47 2012-03-07 2012-05-23 12,673 12,673 12,673 No
Ma Huilan Independent Director F 61 2008-06-12 2012-03-07 Yes
Chairman of the Supervisory
Han Jiangming M 61 2008-06-12 2012-03-07 11,405 11,405 11,405 No
Committee
Yang Weiliang Supervisor M 60 2008-06-12 2012-03-07 No
Sun Qiangxian Deputy GM F 58 2008-06-12 2012-03-07 No
Total -- -- -- -- -- 69,692 69,692 57,895 -- --
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Directors, supervisor and senior executives who awarded equity incentive in report period
□applicable √Non-applicable
(II) Representation
Representation in shareholders’ unit
√applicable □Non-applicable
Whether received
Service
Service remuneration from
Name Shareholders’ unit Post occupied term
term from shareholders’ unit
ended
or not
Executive vice President
ROBERT BOSCH GMBH (German
Rudolf Maier of technology R&D of 2011-01 Yes
Robert Bosch Co., Ltd.)
division of Diesel System
Wuxi Industry Development Croup Co.,
Ge Songping Vice research investigator 2011-12 Yes
Ltd.
Wuxi Industry Development Croup Co., Director of financial
Hua Wanrong 2009-06 Yes
Ltd. management department
Chen Yudong Bosch Investment (China) Co., Ltd. President 2011-01 Yes
Miu Yuming Bosch Automotive Diesel System Co., Ltd. Deputy GM 2012-03 Yes
Explanation on
job occupation
in shareholders’
unit
Representation in other unit
√applicable □Non-applicable
Whether received
Service term Service term
Name other unit Post occupied remuneration
from ended
from other unit
China Association of Automobile
Du Fangci Adviser 2012-04 Yes
Manufacturers
Zhejiang University Power Machinery and
Director 2000-01 Yes
Vehicular Engineering Institute
Zhejiang Yinlun Machinery Co., Ltd. Independent Director 2011-07-21 2014-07-21 Yes
Yu Xiaoli Zhejiang Wanliyang Transmission Co.,
Independent Director 2011-09-01 2014-08-31 Yes
Ltd.
Zhejiang Bozong Auto Technology Co.,
Chairman 2008-04 Yes
Ltd.
China Internal Combustion Engine Deputy President
Xing Min 2008-08 Yes
Industry Association. and Secretary-General
Jiangsu Institute of Certified Public Deputy Secretary
Zhang Hongfa 1998-06 Yes
Accountants General、standing
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
director
Jiangsu Hongbao Hardware Co., Ltd. Independent Director 2009-12-10 2012-12-09 Yes
Wiscom System Co., Ltd. Independent Director 2010-04-26 2013-04-25 Yes
Explanation on
job occupation The above four person was the independent director of the Company
in other unit
(III) Remuneration of directors, supervisors and senior executives
The remuneration program of the directors, supervisors and senior
Decision-making process for administrators of the Company is based on the passed by the general meeting
remuneration of the directors，
of stockholders, which is confirmed and raised by the remuneration and
supervisors and senior
appraisal committee of the board of directors according to the performance of
administrator annual main objectives and indicators, and carried out after approved by the
board of directors.
Confirming basis for
remuneration of the directors， passed by
supervisors and senior the general meeting of stockholders
administrator
Annual remuneration includes annual basic salary and performance pay. The
Actual payments for remuneration
annual basic salary is determined by post and position, while the performance
of the directors， supervisors and
pay is directly decided by economic benefits of the Company and provided
senior administrator
by the performance of annual performance indicators.
(IV) Changes of directors, supervisors and senior executives
Date of
Name Post holding Changes Reasons of changes
changes
Chen Xuejun Chairman Post-holding 2012-03-07 Board of directors transition
Wang Xiaodong Vice Chairman Post-holding 2012-03-07 Board of directors transition
Rudolf Maier Vice Chairman Post-holding 2012-03-07 Board of directors transition
Ge Songping Director Post-holding 2012-03-07 Board of directors transition
Hua Wanrong Director Post-holding 2012-03-07 Board of directors transition
Chen Yudong Director Post-holding 2012-03-07 Board of directors transition
Ou Jianbin Director Post-holding 2012-05-23 More director required
Du Fangci Independent Director Post-holding 2012-03-07 Board of directors transition
Yu Xiaoli Independent Director Post-holding 2012-03-07 Board of directors transition
Xing Min Independent Director Post-holding 2012-03-07 Board of directors transition
Zhang Hongfa Independent Director Post-holding 2012-03-07 Board of directors transition
Shi Xingyuan Chief Supervisor Post-holding 2012-03-07 Board of directors transition
Gao Guoyuan Supervisor Post-holding 2012-03-07 Board of directors transition
Liu Jinjun Supervisor Post-holding 2012-03-07 Supervisory committee transition
Wang Xiaodong GM Post-holding 2012-03-07 Engaged by the Board
15
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Standing deputy GM
Ou Jianbin and chief financial Post-holding 2012-03-07 Engaged by the Board
officer
Miu Yuming Deputy GM Post-holding 2012-03-07 Engaged by the Board
Wang Yawei Deputy GM Post-holding 2012-03-07 Engaged by the Board
Xu Yunfeng Deputy GM Post-holding 2012-03-07 Engaged by the Board
Zhou Weixing Secretary of the Board Post-holding 2012-03-07 Engaged by the Board
Resigned, serves no senior executive
Wang Weiliang Director Resigned 2012-05-23
of the Company
Resigned for session transition, serves
Ma Huilan Independent Director Resigned 2012-03-07
no senior executive of the Company
Resigned for session transition, serves
Han Jiangming Supervisor Resigned 2012-03-07
no senior executive of the Company
Resigned for session transition, serves
Yang Weiliang Supervisor Resigned 2012-03-07
no senior executive of the Company
Resigned for session transition, serves
Sun Qingxian Deputy GM Resigned 2012-03-07
no senior executive of the Company
(V) Staff of the Company
Person on-jobs 4,816
Retirement person whose charges undertake by the Company
Professional categories
Types of professional category Numbers of professional category
Production staff 3,274
Salesman 236
Technician 737
Financial staff 85
Administration staff 484
Education background
Type of education background Numbers (people)
Doctor 3
Master 98
Undergraduate 620
Junior college 933
High School and below 3,162
Explanation of staff
1.410 off-job employees are not including in the above said statements.
2. The payments for the retirees are undertaken by the society endowment insurance.
16
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
VI. Report of the Board
(I) Management discussion and analysis
In the first half year of 2012, the economic growth of our country has gone through grim domestic and overseas
tests, and the economy continues going down; the investments in domestic fixed assets and infrastructures keep
slowing down, the domestic auto markets drop evidently, especially the heavy truck markets and engineering
machinery markets. In the first half year, the Country has accumulatively produced 9,529,200 automobiles and
sold 9,529,200 automobiles, respectively increasing by 4.1% and 2.9% year on year, thereinto the commercial
vehicle closely related to the Company accumulatively produced 1,929,900 and sold 1,984,600, respectively
dropping by 8.6% and 10.4% year on year; the drop magnitude of heavy commercial vehicle is over 30%,
accumulatively produced 343,300 and sold 371,400, respectively dropping by 32 % and 31.65% year on year.
Affected by this, the operating income and gross profit ratio of the Company have dropped to some extent.
Confronting with the complicated economic situation, the Company centers on key emphasis in work and future
development strategy, strengthens the organization efficiency, steadily broadens the international markets, further
improves the domestic sales network system; continues to enlarge the research and development input,
consolidates the brands and market occupancy ratio for the products. During the report period, the production and
management and other businesses of the Company remain stable by the staff’s unremitting endeavors.
In the first half year, the Company achieved operating income of 2623 million Yuan, dropping 19.98% year on
year, investment income of 160 million Yuan, dropping 45.5% year on yea, net profits of 466 million Yuan
belonging to shareholders of listed companies, dropping 30.77% year on year.
The difference between the actual operating results of the Company and the profit forecast or operation plan in
respect of this reporting period which have been disclosed publicly exceeds 20% (no matter lower or higher) or
not:
□ Yes √ No □Not applicable
Business condition and performance analysis of main subsidiary and joint stock company of the Company
① Nanjing Weifu Jinning Co., Ltd. (The shareholding ratio of the Company is 80%.) mainly manufactures
products of diesel fuel injection system(core product is VE dispensing pump), whose registered capital is
346,286,800 Yuan, total assets at the end of report period is 1,142,143,200 Yuan, and the net profit is 102,212,700
Yuan.
② Wuxi Weifu Lida Catalytic Converter Co., Ltd. (The shareholding ratio of the Company is 94.81%) mainly
manufactures exhaust purifier and silencer, whose registered capital is 260 million Yuan, total assets at the end of
report period is 1,253,210,300 Yuan, and the net profit is 51,004,400 Yuan.
③ Bosch Automotive Diesel Systems Co., Ltd.(The shareholding ratio of the Company and subsidiary is 34%)
mainly manufactures products of electronic control diesel system, whose registered capital is 200 million Yuan,
total assets at the end of report period is 4,926,822,900 Yuan, and the net profit is 202,429,600 Yuan.
④ Zhong Lian Automotive Electronics Co., Ltd. (The shareholding ratio of the Company is 20%) mainly
manufactures products of automotive electronics control system, whose registered capital is 600,620,000 Yuan,
total assets at the end of report period is 2,463,022,600 Yuan, and the net profit is 320,217,000 Yuan.
All risk factors may cause negative influence on future development strategy and operations objectives of the
Company
The current economic situation at home and abroad is complicated, the macro-economy of our country is
descending, and there is no impetus for the rapid growing of automobile production and marketing in the short run.
According to the performance in the first half year, the automobile production and marketing are still in
adjustment stage at present, most of all, the sales volume of heavy truck is not as expected, the IV effluent
standard can’t be strictly executed, and the technical routes for realizing IV have great changes. So the Company
shall pay close attention to all national policies and measures, flexibly adjust the operation strategy, positively
expand external markets, effectively allocate internal resources, steadily boost the enterprise internal control
standardization construction, and enhance the capability to resist the market risks. Reduce the impact of market
demand recession on the Company.
17
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
1. Main business and operations
(1)Statement of main business classified according to industries and products
Unit: RMB
Increase or Increase or Increase or
decrease of decrease of decrease of gross
Gross
Classified according to operating revenue operating cost profit ratio over
Operating revenue Operating cost profit
industries or products over the last same over the last same the last same
ratio (%)
period of last year period of last year period of last year
(%) (%) (%)
According to industries
Automobile parts 2,437,884,756.39 1,768,194,868.67 27.47% -18.5% -17.82% -0.59%
According to products
Automobile
1,926,103,342.74 1,346,473,583.48 30.09% -21.28% -21.05% -0.2%
fuel-injection system
Induction system 85,367,431.72 60,566,106.97 29.05% 9.6% 32.39% -12.21%
Automobile
426,413,981.93 361,155,178.22 15.3% -8.63% -9.81% 1.11%
tail-processing system
Explanation on main business classified according to industries and products
Main business of the Company has no change in reporting period and still belongs to industry of auto parts; mainly engaged in
development, manufacture and sales of auto fuel injection system, tail treatment system and engine intake system.
Explanation on major changes of gross profit over same period of last year
In reporting period, gross profit ratio of engine induction system shows y-o-y down of 12.21%, which mainly due to the serious
completion in market and lower price.
(2) Main business classified according to areas
Unit: RMB
Increase/decrease in revenue from
Areas Operating revenue operations over the same period of
last year (%)
Sales domestically 2,274,800,702.10 -20.72%
Sales overseas 163,084,054.29 33.78%
Introductions to main business by region
The domestic sales drops 20.72% year on year, which is mainly caused by the obvious decrease in the commercial
vehicle markets, especially the heavy truck markets and engineering machinery markets, the accumulative
production of heavy commercial vehicle is 343,300 and the sales volume of heavy commercial vehicle is 371,400,
respectively dropping by 32 % and 31.65% year on year.
Introductions to composition of the main business
During the report period, composition of the main business of the Company has not been changed; its main
products are fuel injection system, after treatment system, and engine air intake system.
(3) Explanation on reasons of material changes in main operations and its structure
18
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
□Applicable √Non-applicable
(4) Explanation on reasons of material changes in profitability (gross profit ratio) of main
operations compared with that of last year
√Applicable □Non-applicable
In reporting period, gross profit ratio of engine induction system shows y-o-y down of 12.21%, which mainly due to the serious
completion in market and lower price.
(5) Analysis on reasons of material changes in profit structure compared with the previous
year
□Applicable √Non-applicable
(6) Business nature, main products or service as well as net profit for stock jointly enterprises
who take over 10% of the net profit
□Applicable √Non-applicable
At the end of report period, the Company achieved net profits of 446,281,200 Yuan belonging to the patent
company, including investment income of 159,986,500 Yuan which is mainly from two joint stock enterprises:
①Bosch Automotive Diesel Systems Co., Ltd. (The shareholding ratio of parent company and subsidiary is 34%)
mainly manufactures products of electronic control diesel system, whose net profit at the end of report period is
202,429,600 Yuan. The investment income of the Company calculated by equity method is 63,897,900 Yuan.
②Zhong Lian Automotive Electronics Co., Ltd. (The shareholding ratio of the Company is 20%) mainly
manufactures products of automotive electronics control system, whose net profit at the end of report period is
320,217,000 Yuan. The investment income of the Company calculated by equity method is 64,043,400 Yuan.
(7) Problems and difficulties in operation
Affected by the macro-economic restructure such as government investment deceleration, the commercial vehicle
industry starts overall dropping since this year, especially the drop magnitude of heavy commercial vehicle is over
30%, and the production and management of the Company are facing major difficulties: ① The order quantities
decrease, and the rate of capacity utilization declines; ②Industry production capacity is over, and the product
price is descending; ③Affected by orders, cost for unit product increases and gross profit decreases. The
Company shall take positive countermeasures: ①Positively adjust the product structure, give full play to our
advantages of complete product specification, multiple varieties and flexible production; ②Strictly control the
costs, take target cost as the guiding, positively popularize and apply new processes, new materials and new
techniques to reduce the pressure of price dropping; ③Boost the development of new products, especially pay
attention to industrialization of four nationwide products, the Company has gained great progress in popularizing
diesel after treatment system products and fuel injector system products for key customers.
2. Internal control mechanism related with fair-value measurement
√Applicable □Non-applicable
Item related with fair-value measurement
Unit: RMB
Gains/losses of Accumulate Impairment
Item At period-begin variation of fair variation of fair accrual in this At period-end
value in this period value reckoned period
19
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
into equity
financial assets
Including: 1.Financial assets measured
by fair value and variation of fair value
reckoned into current gains/losses
Including: Derivative financial assets
2. Finance asset available for sales 77,241,200.00 290,080,000.00
Subtotal finance asset 77,241,200.00 290,080,000.00
Financial liabilities
Investment real estate
Productive biological asset
Other
Total 77,241,200.00 290,080,000.00
In two years, fair-value of same or similar items are recognized by valuation technology, is there any material difference between the
valuation results? Explain specifically if has differences
□ Yes □ No √Non-applicable
3. Foreign currency financial assets and financial liabilities held
□Applicable √Non-applicable
(II) Investment of the Company
1. General Application of the raised proceeds
√Applicable □Non-applicable
Unit: RMB00’000
Total fund-raised 285,012.43
Total fund-raised invested in report period 153,118.45
Total accumulative fund-raised invested 153,118.45
Total fund-raised for changes its using purpose in report period 0
Total accumulative fund-raised invested 0
Total fund-raised for changes its using purpose in report period 0
Explanation on using purpose of fund-raised
On 21 January 2012, being approved by CSRC “Approval of Reply on Privately Offering of WEIFU
HIGH-TECHNOLOGY GROUP CO., LTD” (ZJXK [2012] No.109), the Company offering no more than
112,858,000 new shares in total. On 10 February 2012, “Capital Verification Report””SGW[2012] No.: B006”
issued by Jiangsu Gongzheng Tianye CPA Co., Ltd. stated that: ended as 10 February 2012, totaling
112,858,000 RMB common shares (A stock) offered by Weifu Hi-Tech with fund raising amounting to RMB
2,866,028,910.00 in total; net fund raising amounting to RMB 2,850,124,252.93 after deduction of issuing
expenses RMB15,904,657.07. Ended as reporting period, totally RMB1, 531,184,500 raised-funds was invested
accumulative.
20
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
2. Commitments on projects of raised funds
√Applicable □Non-applicable
Unit: RMB00’000
Whether or not Investment Date for Benefits Whether or not
Total Total Input in the
project has Accumulated progress as at project to reach realized in the Reach the significant
Committed investment project and committed investment current
changed(includ input as at period-end the condition current projected changes occur
application of proceeds investment by after reporting
ing change in period-end (2) (%)(3)＝ for intended reporting benefits or not in availability
proceeds adjustment(1) period
part) (2)/(1) use period of projects
Committed investment project
R& D as well as industrialization of
WAPS and capacity promotion for No 62,032 18,006.19 18,006.19 29% 2013-10-31 No
parts of diesel common rail system
Construction of industry zone
No 57,750 1,681.15 1,681.15 3% 2013-10-31 No
district
Industrialization of auto tail-gas
No 26,000 4,200.68 4,200.68 16.2% 2012-10-31 No
treatment system products
Engineering research institution
No 5,154 5,154 5,154 100% 2012-12-31 Non-applicable No
project
Auto power battery material and
No 10,000 0% 2014-03-31 No
research project of power battery
Equity purchasing project No 34,381.5 34,381.5 34,381.5 100% 100.2 Non-applicable No
Subtotal of committed investment
- 195,317.5 63,423.52 63,423.52 - - - -
project
Application of proceeds out of
expectation
21
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Repayment of bank loans (if any) - - - - -
Supplement current capital (if any) - 89,694.93 89,694.93 89,694.93 - - - -
Subtotal of application of proceeds - - - - -
Total - 285,012.43 153,118.45 153,118.45 - - - -
Not meet the scheduled progress or
projected benefits, and reasons for
that (based on specific project)
Explanation on significant changes
in availability of projects
Amount, purposes and application □ Applicable √ Non-applicable
progress of proceeds
□ Applicable √ Non-applicable
Change of implementation place of
□ Occurred during the reporting period □ Occurred in previous years
investment projects with proceeds
Adjustment to implementation □ Applicable √ Non-applicable
method of investment project with □ Occurred during the reporting period □ Occurred in previous years
proceeds
√Applicable □Non-applicable
According to SG W [2012] E No. 1100 issued by Jiangsu notarization, up to 29th, February, 2012, the actual amount of capital invested in the raised funds investment project in advance by the
investment project with proceeds Company with self-raised funds is 299.12 million Yuan, including 1. WAPS research & development and industrialization and the capacity of diesel common rail
system components and parts promotes for 180.05 million Yuan; 2. The construction projects in industrial park are 16.62 million Yuan; 3. The industrialization
project of after treatment system products for automobile exhaust is 28.56 million Yuan; 4. The engineering research institute project is 51.54 million Yuan; 5. The
share acquisition project is 22.35 million Yuan. The self-raised fund used for investing in raised projects in advance on 31st, March, 2012 is 299.12 million Yuan.
22
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Temporary supplement of current □Applicable √Non-applicable
capital with idle proceeds
Amount of proceeds balance when □ Applicable √ Non-applicable
implementing projects, and reason
for that
Purposes and application of
Saved in the special account for fund-raised
unutilized proceeds
Problems found during the
application and disclosure of N/A
proceeds or other issues
23
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
3. Changes of projects of raised funds
□Applicable √Non-applicable
4. Investment on major projects of non-raised funds
□Applicable √Non-applicable
(III) The modification of Board to the business plan for the second half of the year
□Applicable √Non-applicable
(IV) Prediction of business performance from January – September 2012
Estimation on accumulative net profit from the beginning of the year to the end of next report period to be loss
probably or the warning of its material change compared with the corresponding period of the last year and
explanation on reason
□Applicable √Non-applicable
(V) Explanation on “Qualified Opinion” from the Certified Public Accountants in the report
period by the Board of Directors
□Applicable √Non-applicable
(VI) Explanation of the Management on changes and disposal of the issues involved in
“Qualified Opinion” from the Certified Public Accountants in the last year by the Board of
Directors
□Applicable √Non-applicable
(VII)Stating the discussion results issued by the Board on changes in the Company’s
accounting policies and accounting estimates or reasons for material accounting error
correction and influences thereof
□ Applicable √ Non-applicable
(VIII) Determination and implementation of cash dividend policies of the Company
1. To highly value the return for investors and fully protect the legitimate rights and interests of
minority investors, the Company formulates the share out bonus program by strictly following
. The 2011 annual profit distribution program of the Company has been
carried out in July, 2012 after considered by the 2011 annual general meeting of stockholders
convoked on 23rd, May, 2012.
2. According to the requirements of issued by China Securities Regulatory Commission, the Company has
revised the relevant items (Article 77, 154, 155) of < Articles of association >, which has passed the
consideration of the fifth meeting of the seventh board of directors of the Company and the fourth
meeting of the seventh board of supervisors of the Company, and has been submitted for approval
by the consideration of the seconds interim stockholders' meeting in 2012. The Company shall carry
out the profit distribution by strictly following the rules in articles of association and resolution of
stockholders' meeting, the standards and proportion of share out bonus are clear and distinct,
relevant decision-making process and mechanism are complete, the independent directors fulfill
their duties and play their due roles, minority shareholders have the chance to fully express opinions
and appeals, whose legitimate rights and interests can be completely maintained.
(IX) Plan of profit distribution or capital reserve capitalizing
□Applicable √Non-applicable
24
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
(X) Positive retained profit accumulated at end of 2011 without cash distribution carried out
□Applicable √Non-applicable
(XI) Other events disclosed
Special introduction and independent opinions of independent directors to fund occupation and
external guarantee of the Company’s related party
According to the essence of (No. [2003]56) and
(No. [2005]120)
issued by China Securities Regulatory Commission, and base on the principle of seeking truth from
facts, we have seriously learned and prudently checked the fund occupation of related party and
external guarantee of the Company, we think that:
1. The Company’s financial regulations are complete, which ensure there is no non-operating
capital occupation of listed company by controlling shareholder or related party, or capital
occupation of listed company by unfair related transaction; there is no situation of paying salary,
related party, insurance, advertisement expenses and costs, or other expenses for controlling
shareholder and other related party.
2. During the report period, the Company didn’t provide guarantee for controlling shareholder or
other related party, controlling shareholder and other related party didn’t force the Company to
provide guarantee, and the Company didn’t provide guarantee for the subsidiary.
(XII) Liabilities, credit changes and cash arrangement for debt paying in later year (Only
applies to listed company with corporate convertible bonds offered)
□Applicable √Non-applicable
25
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
VII. Significant Event
(I)Corporate governance
During the report period, the Company has thoroughly carried out < Fundamental norms of
enterprise internal control> and its guide, constantly improve the corporate governance structure
and internal control system, standardize the operation of the company by strictly following <
Company act >, , < Stock listing rules of Shenzhen Stock Exchange >, and
, so there is no difference between the
real management and requirements of relevant documents issued by China Securities Regulatory
Commission.
1. The stockholders' meeting: the Company convokes the stockholders' meeting in strict accordance
with the requirements of < Company act >, , <
Stock listing rules of Shenzhen Stock Exchange >, < Articles of association >, and < Rules of
procedure of shareholders meeting>, adopts the voting ways of combining on-the-spot meeting with
network voting, invites lawyers to attend, seriously makes meeting minutes so as to ensure all
shareholders, especially the minority shareholders, have equal standing and can fully perform their
own rights.
2. The relationship of controlling shareholder and the Company: the personnel, assets and finance of
controlling shareholder and the Company are separated, organization and business are independent.
The board of directors, board of supervisors and administration operate independently. The
controlling shareholder can’t directly or indirectly intervene in decision-making and operating
activities of the Company by overstepping stockholders' meeting, nor occupy the non-operating
funds of the Company.
3. The board of directors: directors of the Company can seriously perform duties of fidelity and
diligence, get familiar with relevant laws and regulations, get to know the rights, duties and
responsibilities of the directors in accordance with the requirements of < Stock listing rules of
Shenzhen Stock Exchange >, < Articles of association >, and . There are 11 members of the board of directors in the Company, 4 independent directors,
independent directors’ account for a third of the board, and the number and personnel composition
of the board meet the demands of laws and regulations.
4. Duty execution of independent directors: the independent director of the Company can fulfill
their duties by strictly following < Articles of association >, , and . The independent director
positively attend the board meeting and stockholders' meeting, actively get to know and get the
situation and information needed for decision-making before the meeting; seriously consider all
bills at the meeting, positively take part in and discuss and make suggestions; seriously deliver
independent opinions, practically maintain the benefits for the Company and shareholders,
especially the minority shareholders. The independent director has no objection to the concerning
issues of the Company.
5. The board of supervisors: the board of supervisors can earnestly perform the supervision function
by strictly following , < Articles of association >, and . The board of supervisors has three members at present, including 2 staff
representative supervisors and occupies one third members of board of supervisors. The number and
staff composition of board of supervisors meet the requirements of laws and regulations; the board
of supervisors of the Company seriously perform duties, whose standing orders are legitimate and
standard, and operation is effective, supervise the legality and compliance for duty execution of
directors and senior management by law, constant pay attention to information disclosure of the
Company, make opinions on legitimate operation of the Company, financial condition, use
26
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
condition of raised funds, fairness of related transaction, and objectivity and authenticity of audit
report presented by the accounting firm, and make audit opinions on the periodic report of the
Company.
6. Information disclosure and investor relations management: the Company can truly, correctly,
completely, timely and fairly disclose relevant information, feasibly manage the investor relations
and promote the benign communications between the company and investors by strictly following
, , < Articles of association >, , < Management system for inside information and insider>, , and < Management system for investor
relations >.
7. Related transaction: the independent directors make independent opinions on the occurred related
transaction; and the board of supervisors of the Company has inspected and supervised the occurred
related transaction. The related transaction of the Company is fair and reasonable, decision-making
process is legitimate, pricing basis is objective, transaction price is just, there is no damage to
benefits of the Company and the shareholders, especially the minority shareholders, and all major
transactions have concluded and signed contracts.
8. Internal control: the Company thoroughly implements and carries out < Fundamental norms of
enterprise internal control> and its guide, develops internal control system in both company home
office and major subsidiaries, starts from promoting control and management level, optimizes
working process, improves internal control system, and distinguish and control operating risks.
During the report period, the Company has formulated , please refer to announcement published on
http://www.cninfo.com.cn on 31st, March, 2012 for details.
(II) Implementation of profit distribution plan, capital reserve capitalizing or shares offering
that plan out previously and carry out in this reporting period
√Applicable □Non-applicable
The profit distribution plan for year of 2011 was completed in July 2012, distributed cash dividend RMB 3 (tax
included) for every 10 shares held.
(III)Material lawsuits and arbitrations
□Applicable √Non-applicable
No material lawsuits and arbitrations occurred in this period
(IV) Related event of bankruptcy reorganization
□Applicable √Non-applicable
(V) Equity of other listed company and stock jointly financial enterprise held by the Company
1. Security investment
□Applicable √Non-applicable
Explanation on security investment
2. Equity of other listed company held by the Company
√Applicable □Non-applicable
27
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Ratio of Gains and
Changes of
Initial equity in losses
Stock Ending book owners’ equity Accounting Share
Stock Code investment cost this during
Name value (RMB) in report item resources
(RMB) company report period
period (RMB)
(%) (RMB)
Financial
assets
600841 SDEC 199,208,000.00 2.72% 290,080,000.00 740,000.00 77,241,200.00 Subscribe
available for
sale
Total 199,208,000.00 -- 290,080,000.00 740,000.00 77,241,200.00 -- --
Explanation on equity of other listed company held by the Company
The 23rd meeting of the sixth board of directors of the Company discussed to participate in subscription of SDEC
non-public issuing stock A, subscribe SDEC non-public issuing stock of 14.80 million shares by 13.46 Yuan per
share, occupying 2.72% of total stock. The Company promised not to transfer within 12 months after this
subscription, the restricted stock trade period is from 23rd, March, 2012 to 22nd, March, 2013.
SDEC implemented 2011 annual profit distribution and capitalization of capital reserves program on 4th, June,
2012 (Assign cash 0.50 Yuan per 10 shares, every 10 shares increase by 6 shares after transferring). The Company
holds 23.68 million shares of SDEC at the end of report period.
3. Equity of non-listed financial enterprise held by the Company
√Applicable □Non-applicable
Gains and
Changes of
losses
Initial Amount Ratio of Ratio of equity owners’
during Accounting Share
Name investment cost held equity in this in this company equity in
report item resources
(RMB) (Share) company (%) (%) report period
period
(RMB)
(RMB)
Long-term
Guolian
12,000,000.00 18,000,000 1.2% 12,000,000.00 equity Subscribe
Securities
investment
Nanjing
Hengtai Long-term
Insurance 1,000,000.00 1,000,000 1.85% 1,000,000.00 equity Subscribe
Brokers Co., investment
Ltd.
Jiangsu
Huifeng Long-term
Insurance 500,000.00 500,000 10% 500,000.00 equity Subscribe
Agency Co., investment
Ltd.
Total 13,500,000.00 19,500,000 -- 13,500,000.00 -- --
Explanation on equity of non-listed financial enterprise held by the Company
28
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
4. Buying and selling shares of other listed company
□Applicable √Non-applicable
Explanation on shares dealing of other listed company
(VI) Assets transaction
29
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
1. Assets purchased or acquired
√Applicable □Non-applicable
Net profit Net profit
contribute to contribute to
the listed the listed The
company company proportion of
Related
between the between the Whether the net profit of
Whether the relation with Date for
Transaction Transaction purchase date beginning Whether it involving the asset
Acquired or asset property transaction disclosing
Counterparty price (10 to the end of period to the is related Asset pricing creditor’s right contribute to
swapped-in Purchase date right is counterparty first
or final thousand report end of transaction principle and debt are listed
asset completely (for circs of temporary
controller yuan) period(10 report(10 or not completed company
transferred related announcement
thousand thousand transferred accounting for
transaction)
yuan) (for the yuan) (for the total profit
enterprise the enterprise (%)
merger under merger under
same control) same control)
Holds 1.5%
Wuxi Industry
equity of
Development Assessment Largest
Bosch Diesel 2012-04-26 20,628.9 Yes Yes Non-applicable 0.11% 2010-12-08
Group Co., price shareholder
System Co.,
Ltd.
Ltd.
ROBERT
Holds 1 %
BOSCH
equity of
GMBH Assessment Second largest
Bosch Diesel 2012-06-20 13,752.6 Yes Yes Non-applicable 0.075% 2010-12-08
(German price shareholder
System Co.,
Robert Bosch
Ltd.
Co., Ltd.)
30
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Explanation on assets purchase
Passing the consideration of the second interim stockholders' meeting of 2010 on 24th, December, 2010, the Company privately issued stock to Wuxi Industry Development Group Co., Ltd. and
ROBERT BOSCH GMBH. On 21st, January, 2012, China Securities Regulatory Commission has issued (No. [2012]109), which authorizes the non-public stock issuing cannot be more than 112,858,000 new shares.
One of the raised fund projects of this private placement is to use the raised funds of 343,815,000 Yuan to purchase 1.5% stock rights of Bosch Automotive Diesel Systems Co., Ltd. held by Wuxi
Industry Development Group Co., Ltd. and 1% stock rights of Bosch Automotive Diesel Systems Co., Ltd. held by ROBERT BOSCH GMBH.
2. Assets sold
□Applicable √Non-applicable
Explanation on assets sold
3. Assets replacement
□Applicable √Non-applicable
Explanation on assets replacement
31
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
4. Business combination
□Applicable √Non-applicable
5. Progress of the events and their influence on the Company’s operating results and
financial status in the report period after the Report on Assets Restructure or Public Notice
on Acquisition and Sales of Assets being published
□Applicable √Non-applicable
(VII) Explanation on shareholding increase proposed or implemented by largest shareholder
of the Company and its persons acting in concert in reporting period
√Applicable □Non-applicable
On 21st, January, 2012, China Securities Regulatory Commission has issued (No. [2012]109), which authorizes the
non-public stock issuing cannot be more than 112,858,000 new shares.
This private placement of the Company totally issues 112,858,000 shares to 2 purchasers, thereinto the major
shareholder, Wuxi Industry Development Group Co., Ltd., increases to 36,017,600 shares, overseas strategic
investor, ROBERT BOSCH GMBH, increases to 76,840,400 shares.
Above stock is listed in Shenzhen Stock Exchange since 29th, February, 2012, the restricted stock trade period is
36 months, and the predicted circulation time is 1st, March, 2015 (Put off if it is not trading day)
(VIII) Implementation and its influence of equity incentive
□Applicable √Non-applicable
(IX) Significant related transaction
32
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
1. Related transaction related to daily operation
√Applicable □Non-applicable
Reasons of
major
Related Related Proportion in
Content of Clearing form Influence of Market difference
Type of related Pricing transaction transaction similar
Related party Relationship related for related profit of the price(10 between
transaction principle price (10 amount (10 transactions
transaction transaction Company thousand yuan) trading price
thousand yuan) thousand yuan) (%)
and market
reference price
Wuxi Weifu
Sales of
Precision
Affiliated products and Sales of Appointed by
Machinery Market price 842.51 842.51 0.32% Non-applicable
company labor service commodity contract
Manufacturing
provided
Co., Ltd.
Affiliated
company ,
Bosch controlling Sales of
Automobile subsidiary of products and Sales of Appointed by
Market price 13,799.09 13,799.09 5.26% Non-applicable
Diesel System ROBERT labor service commodity contract
Co., Ltd. BOSCH provided
GMBH(Germa
n Bosch)
Wuxi Weifu Sales of
Affiliated
Environment products and Sales of Appointed by
company of Market price 311.37 311.37 0.12% Non-applicable
Catalyst labor service commodity contract
Weifu Lida
Co.,Ltd. provided
Weifu Autocam Sales of
Sales of Appointed by
Precision Joint-venture products and Market price 173.92 173.92 0.07% Non-applicable
commodity contract
Machinery Co., labor service
33
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Ltd. provided
ROBERT Sales of
BOSCH Shareholder of products and Sales of Appointed by
Market price 760.08 760.08 0.29% Non-applicable
GMBH(Germa the Company labor service commodity contract
n Bosch) provided
Controlling
ROBERT subsidiary of Sales of
BOSCH ROBERT products and Sales of Appointed by
Market price 52.62 52.62 0.02% Non-applicable
Ltda.( Brazil BOSCH labor service commodity contract
Bosch) GMBH(Germa provided
n Bosch)
Wuxi Weifu
Purchase of
Precision goods and labor
Affiliated force received Purchase of Appointed by
Machinery Market price 4,333.77 4,333.77 2.57% Non-applicable
company goods contract
Manufacturing
Co., Ltd.
Affiliated
company ,
Bosch Controlling
Automobile subsidiary of Purchase of Purchase of Appointed by
Market price 9,083.37 9,083.37 5.38% Non-applicable
Diesel System ROBERT goods and labor goods contract
Co., Ltd. BOSCH force received
GMBH(Germa
n Bosch)
Wuxi Weifu
Purchase of Appointed by
Environment Joint-venture Purchase of Market price 30,360.75 30,360.75 17.97% Non-applicable
goods contract
Catalyst goods and labor
34
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Co.,Ltd. force received
Weifu Autocam
Purchase of
Precision Purchase of Appointed by
Joint-venture goods and labor Market price 476.33 476.33 0.28% Non-applicable
Machinery Co., goods contract
force received
Ltd.
ROBERT
BOSCH Second largest Purchase of Purchase of Appointed by
Market price 2,389.58 2,389.58 1.41% Non-applicable
GMBH(Germa shareholder goods and labor goods contract
n Bosch) force received
Controlling
ROBERT subsidiary of
BOSCH ROBERT Purchase of Purchase of Appointed by
Market price 136.46 136.46 0.08% Non-applicable
Ltd.( Brazil BOSCH goods and labor parts contract
Bosch) GMBH(Germa force received
n Bosch)
Controlling
subsidiary of
BOSCH Purchase of
ROBERT Purchase of Appointed by
Corporation(Ja goods and labor Market price 106.06 106.06 0.06% Non-applicable
BOSCH goods contract
pan Bosch) force received
GMBH(Germa
n Bosch)
Total -- -- 62,825.91 -- -- -- --
Total
Necessity and sustainable of related transaction as well as reasons Above-mentioned related transactions are relevant to current production and operation of the Company, the board
of directors of the Company shall practically maintain the rights and interests of the Company and investors，
of related transaction with related parties(not with other marketing
ensure the pricing of above-mentioned related transactions is fair, the paying and collection terms are reasonable,
dealers) and there is no damages to benefits of listed companies.
35
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Influence on independence of listed company from related
No influence on independence of the Company
transaction
Dependence on related parties by Company as well as relevant
N/A
solutions (If applicable)
Actual implementation of those amount that predicted in this Total related transaction amount not exceed the budget approved in shareholders’ general meeting; the related routine transaction
period by category for daily related transaction disclosed at year-begin amounting as 2,273,500,000 yuan.
Explanation on related transactions N/A
Related transactions concerned with routine operations
Sales of products and labor service provided to related party Purchase of goods and labor force received from related party
Related party Proportion in similar transactions Proportion in similar transactions
Trading amount(10 thousand yuan) Trading amount(10 thousand yuan)
amount (%) amount (%)
Wuxi Weifu Precision Machinery
842.51 0.32% 4,333.77 2.57%
Manufacturing Co., Ltd.
Bosch Automobile Diesel System Co., Ltd. 13,799.09 5.26% 9,083.37 5.38%
Wuxi Weifu Environment Catalyst Co.,Ltd. 311.37 0.12% 30,360.75 17.97%
Weifu Autocam Precision Machinery Co.,
173.92 0.07% 476.33 0.28%
Ltd.
ROBERT BOSCH GMBH(German Bosch) 760.08 0.29% 2,389.58 1.41%
ROBERT BOSCH Ltd.( Brazil Bosch) 52.62 0.02% 136.46 0.08%
BOSCH Corporation(Japan Bosch) 106.06 0.06%
Total 15,939.59 6.08% 46,886.32 27.75%
Including: related transaction 0 yuan generated from the commodity sales or labor service offering to controlling shareholder and its subsidiary from the Company
36
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
2. Related transaction incurred by purchase or sales of assets
√Applicable □Non-applicable
Reasons of
Assessment
Book value major difference Income
value of Market fair Transfer Clearing
of assets between transfer Influence on business from assets
Related Type of Content of Pricing assets value (10 price (10 form for
Relationship related related transfer (10 price and book result and financial transfer (10
parties transaction transaction principle transfer (10 thousand thousand related
thousand value or status thousand
thousand yuan) yuan) transaction
yuan) assessment yuan)
yuan)
value
Firstly solved the related
investment with
Income
Industry Group;
Holds 1.5% approach is
Wuxi Industry secondly by higher more
equity of predicted value
Development First largest Equity Assessment Based on equity ratio in RBCD,
Bosch Diesel 4,373.28 20,628.9 20,628.9 20,628.9 of the enterprise 60.12
Group Co., shareholder purchased price agreement strengthen cooperation
System Co., based on
Ltd. with RBCD, promoted
Ltd. profitability of
the stable development
the company
of the Company as well
as the profitability
Income By higher more equity
ROBERT
Holds 1 % approach is ratio in RBCD,
BOSCH
Second equity of predicted value strengthen cooperation
GMBH Equity Assessment Based on
largest Bosch Diesel 2,915.52 13,752.6 13,752.6 13,752.6 of the enterprise with RBCD, promoted 40.08
(German purchased price agreement
shareholder System Co., based on the stable development
Robert Bosch
Ltd. profitability of of the Company as well
Co., Ltd.)
the company as the profitability
37
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Explanation on related transaction resulted from asset purchase and sales
Passing the consideration of the second interim stockholders' meeting of 2010 on 24th, December, 2010, the Company privately issued stock to Wuxi Industry Development Group Co., Ltd. and
ROBERT BOSCH GMBH. On 21st, January, 2012, China Securities Regulatory Commission has issued (No. [2012]109), which authorizes the non-public stock issuing cannot be more than 112,858,000 new shares.
One of the raised fund projects of this private placement is to use the raised funds of 343,815,000 Yuan to purchase 1.5% stock rights of Bosch Automotive Diesel Systems Co., Ltd. held by Wuxi
Industry Development Group Co., Ltd. and 1% stock rights of Bosch Automotive Diesel Systems Co., Ltd. held by ROBERT BOSCH GMBH.
3. Significant related transaction from jointly investment outside
□Applicable √Non-applicable
4. Current related liabilities and debts
√Applicable □Non-applicable
Weather there is non-operational current related liabilities and debts
√ yes □ no
Funds offered to related parties (RMB0’000) Funds offer to listed company by related parties(RMB0’000)
Related parties Relationship Balance at Occurred Amount Balance at Interest Interest Balance at Occurred Amount Balance at Interest Interest
period-begin amount paid period-end earned cost period-begin amount paid period-end earned cost
non-operational
Weifu Lida Holding subsidiaries 15,391.52 2,500 3,800 14,091.52
Wholly owned
Weifu Mashan 9,300 5,967 3,333
subsidiary
Wholly owned
Weifu Chang’an 3,200 3,000 1,769 4,431
subsidiary
Weifu Schmidt Holding subsidiaries 900 300 1,200 24.4
Total 28,791.52 5,800 11,536 23,055.52 24.4
operational
38
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Sub-total
Total
Funds offered to controlling shareholders and its subsidiary by the
0
Company in report period (RMB0’000)
Including: Non-operating amount(RMB0’000) 0
Balance of funds offered to controlling shareholders and its
0
subsidiary by the Company (RMB0’000)
Including: Non-operating balance(RMB0’000) 0
Reasons of related liabilities and debts Capital unified-borrowing and unified-lending in Group’s consolidation range
Liquidation of related liabilities and debts
Commitments concerned with related liabilities and debts Nil
Influence on business performance and financial status of the
Nil
Company from related liabilities and debts
Fund occupation and progress of paying off
□Applicable √Non-applicable
Till end of reporting period, accountability plan proposed by the Board for completed no non-operational fund occupation from listed company
□Applicable √Non-applicable
39
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
5. Other significant related transaction
Unit: RMB
Item Related parties January-June January-June
2012 2011
Fixed assets purchased Bosch Diesel System Co., Ltd. -- 59,615.38
Sales of fixed assts Weifu Precision Machinery Manufacture Co., -- 149,038.46
Ltd.
Use right of land and Wuxi Industry Development Group Co., Ltd. 4,286,546.16 5,149,460.20
trademark payable
Technology service charge BOSCH Corporation(Japan Bosch) 370,980.92 --
payable
Technology service charge ROBERT BOSCH GMBH(German Bosch) 9,635,945.94 --
payable
Maintainance charge paid ROBERT BOSCH GMBH(German Bosch) 32,318.44 --
(X) Significant contracts and its implementation
1. Profits earned from trusteeship, contract and lease reached over 10% (10% included) of total profit in
this period
(1) Trusteeship
□Applicable √Non-applicable
(2) Contract
□Applicable √Non-applicable
(3) Lease
□Applicable √Non-applicable
2. Guarantees
□Applicable √Non-applicable
3. Trust financing
□Applicable √Non-applicable
4. Implementation of material contracts entered into during the normal operation
5. Other significant contract
□Applicable √Non-applicable
(XI) Explanation on corporate bonds offering
□Applicable √Non-applicable
40
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
(XII) Implementation of commitments
1. Commitments made by the Company or shareholders holding above 5% shares of the
Company in reporting period or extending to reporting period.
√Applicable □Non-applicable
Commitment Commitment
Commitment event Promisee Content of commitment Implementation
time period
Non-circulating shares of Weifu Hi-tech
held by Weifu Group could not listed or
transferred within 60 months since
possessing of listing right. After the
expiry of the commitment period, original
non-circulating shares would be listed for
The commitment
sale in Shenzhen Stock Exchange, the
Wuxi Industry was being fulfilled
proportion of sales volume to total share
Share Merger Reform Development 2006-04-05 without
equity of Weifu Hi-tech could not exceed
Group Co., Ltd. holdings-reducing
5% within 12 months as well as 10%
shares.
within 24 months, and sales price ought
not to less than RMB 10 per share (the
lowest impairment price of shares holding
would be calculated ex-right at the same
time if share price ought to ex-right
according to regulation).
Commitments in
report of
acquisition or equity
change
Commitments in
assets replacement
The privately offering of the Company
Wuxi Industry totally issue 112,858,000 A-shares to
Development largest shareholder Wuxi Industry Group
Commitments made Group Co., Ltd. and foreign strategy investor ROBERT
Implementing
in issuing and ROBERT BOSCH GMBH. The above said shares
BOSCH are listed for trading in Shenzhen Stock
GMBH Exchange since 29 February 2012 with
36-month restriction
In order to promote the listed company’s
steady and healthy development, fully
The commitment
mobilize senior executives so as to ensure
of arrange for
to combine the interests of the governance
excitation
and shareholders of the Company, Weifu
mechanism is
Other commitments Wuxi Industry Industry Group committed: after Weifu
being
for medium and small Development High-tech finishing Share Merger 2006-04-05
implemented, and
shareholders Group Co., Ltd. Reform, under related regulations of the
would be
state and Wuxi government in terms of
performed since
governance encouragement system of
related policy is
listed company, the Group would the
released.
stock incentive plan for management level
of Weifu High-tech.
Completed on time or
√ Yes □ No □Non-applicable
not
Detail reasons for
un-complement and
further plan
Whether made a
promise to horizontal
competition and □ Yes √ No □ Non-applicable
related transactions
that resulted or not
Solution term
promised
Solution way
Complementation
41
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
2. Explanation on assets or projects that reached the original profit forecast as well as its
reasons while the reporting period still in forecast period, and there are profit forecast on
assets or projects of the Company
□Applicable √Non-applicable
(XIII) Items of other consolidated income
Unit: RMB
Items This period Last period
1. Gains(losses) from financial assets available for sales 90,872,000.00 0.00
Less: Income tax influences from financial assets available for sales 13,630,800.00
Net amount reckoned into other consolidated income in previous period but
transferred into gains/losses in current period
Subtotal 77,241,200.00 0.00
2. Shares in the other consolidated income of the investee calculated based on
equity method
Less: Income tax influences of shares in the other consolidated income of the
investee calculated based on equity method
Net amount reckoned into other consolidated income in previous period but
transferred into gains/losses in current period
Subtotal
3. Gains(losses) from cash flow hedge instrument
Less: Income tax influences from cash flow hedge
Net amount reckoned into other consolidated income in previous period but
transferred into gains/losses in current period
Adjusted amount transferred to initial confirmed amount of the arbitraged items
Subtotal
4. Differences from translating foreign currency financial statements
Less: Net amount of disposing overseas business transferred to current
gains/losses
Subtotal
5. Others
Less: Income tax influences by others reckoned into other consolidated income
Net amount reckoned into other consolidated income in previous period but
transferred into gains/losses in current period
Subtotal
Total 77,241,200.00 0.00
42
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
(XIV)Registration form of receiving research, communication and interview in the report
period
Content discussed and
Date Place Way Type Object
documents provided
Conference room Analysis of market for
2012-03-02 Field research Agency Merchants Securities
of the Company year of 2012
Conference room CITIC Securities、Ping Analysis of market for
2012-03-07 Field research Agency
of the Company An Securities year of 2012
Conference room Guotai Junan Analysis of market for
2012-05- 13 Field research Agency
of the Company Securities year of 2012
Conference room CITIC Securities、Ping Analysis of market for
2012-05-23 Field research Agency
of the Company An Securities year of 2012
(XV) Engagement and non-reappointment of CPA
Whether the semi-annual report was audited or not
□ Yes √ No □ Non-applicable
Whether to hire an accounting firm
□ Yes √ No □ Non-applicable
(XVI) Punishment and rectification for listed company and its directors, supervisor, senior
executives, shareholders of the Company, actual controller and purchasers
□Applicable √Non-applicable
(XVII) Explanation on other significant events
√Applicable □Non-applicable
Nil
(XVIII) Major changes of profitability of turn debt guarantor, assets status and credit
standings
(Only applies to listed company with corporate convertible bonds offered)
□Applicable √Non-applicable
(XIX) Index for information disclosure
Published newspaper name and Published website
Items Publish date
layout and searching route
Commerce Department’s approval for
C24 of Securities Times, A6 of
ROBERT BOSCH GMBH 13th, January,
China Securities Journal, and A16 www.cninfo.com.cn
strategically investing in Wuxi Weifu 2012
of HK Commercial Daily
High-technology Co., Ltd.
Announcement about receiving
approval of China Securities D21 of Securities Times, A20 of 1st, February,
Regulatory Commission for China Securities Journal, and A19 2012 www.cninfo.com.cn
non-public issue of stock of the of HK Commercial Daily
Company
Resolution announcement of the 22nd D16 of Securities Times, B12 of
16th, February,
meeting of the sixth board of China Securities Journal, and A8 www.cninfo.com.cn
2012
directors of HK Commercial Daily
The statement of independent director D16 of Securities Times, B12 of 16th, February, www.cninfo.com.cn
43
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
nominator China Securities Journal, and A8 2012
of HK Commercial Daily
Announcement about offering D16 of Securities Times, B12 of
16th, February,
related-party guarantee for joint stock China Securities Journal, and A8 www.cninfo.com.cn
2012
company of HK Commercial Daily
Notice about convoking the first D16 of Securities Times, B12 of
16th, February,
interim general meeting of China Securities Journal, and A9 www.cninfo.com.cn
2012
stockholders of 2012 of HK Commercial Daily
th
Resolution announcement of the 13 D16 of Securities Times, B12 of
16th, February,
meeting of the sixth board of China Securities Journal, and A9 www.cninfo.com.cn
2012
supervisors of HK Commercial Daily
Announcement about voting staff D16 of Securities Times, B12 of
16th, February,
representative supervisors at the China Securities Journal, and A9 www.cninfo.com.cn
2012
seventh board of supervisors of HK Commercial Daily
Summary of release situation about D5 of Securities Times, A33 of
28th, February,
non-public issuing stock and listing China Securities Journal, and A19 www.cninfo.com.cn
2012
announcement of HK Commercial Daily
Suggestive announcement about D5 of Securities Times, A33 of
convoking the first interim general China Securities Journal, and A19 28th, February, www.cninfo.com.cn
meeting of stockholders of 2012 of HK Commercial Daily 2012
Resolution announcement about the D12 of Securities Times, B22 of
first interim general meeting of China Securities Journal, and A26 www.cninfo.com.cn
8th, March, 2012
stockholders of 2012 of HK Commercial Daily
Resolution announcement about the D12 of Securities Times, B22 of
first meeting of seventh board of China Securities Journal, and A26 www.cninfo.com.cn
8th, March, 2012
directors of HK Commercial Daily
Resolution announcement about the D12 of Securities Times, B22 of
first meeting of seventh board of China Securities Journal, and A26 www.cninfo.com.cn
8th, March, 2012
supervisors of HK Commercial Daily
Announcement about signing D28 of Securities Times, B3 of
tripartite supervision agreement for China Securities Journal, and A27 15th, March, 2012 www.cninfo.com.cn
raising funds of HK Commercial Daily
D37 of Securities Times, B5 of
Announcement about investments
China Securities Journal, and A9 www.cninfo.com.cn
abroad 24th, March, 2012
of HK Commercial Daily
B4 of Securities Times, B4 of
Resolution announcement about the
China Securities Journal, and A17 www.cninfo.com.cn
board of directors 31st, March, 2012
of HK Commercial Daily
Resolution announcement about the D41 of Securities Times, B51 of
second meeting of seventh board of China Securities Journal, and A19 6th, April, 2012 www.cninfo.com.cn
directors of HK Commercial Daily
Resolution announcement about the D41 of Securities Times, B51 of
second meeting of seventh board of China Securities Journal, and A19 6th, April, 2012 www.cninfo.com.cn
supervisors of HK Commercial Daily
Announcement about displacing the
D41 of Securities Times, B51 of
self-raised funds invested in the
China Securities Journal, and A19 6th, April, 2012 www.cninfo.com.cn
raised projects in advance with
of HK Commercial Daily
collected funds
Resolution announcement about the D70 of Securities Times, B71 of
third meeting of seventh board of China Securities Journal, and A24 18th, April, 2012 www.cninfo.com.cn
directors of HK Commercial Daily
Resolution announcement about the
D70 of Securities Times, B71 of
third meeting of seventh board of 18th, April, 2012 www.cninfo.com.cn
China Securities Journal, and A25
supervisors
of HK Commercial Daily
Annul report summary 2011 18th, April, 2012 www.cninfo.com.cn
44
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
D69 of Securities Times, B71 of
China Securities Journal, and A26
of HK Commercial Daily
D69 of Securities Times, B71 of
Announcement about tendering
China Securities Journal, and A24 18th, April, 2012 www.cninfo.com.cn
guarantee for others
of HK Commercial Daily
D69 of Securities Times, B71 of
Announcement about predicting daily
China Securities Journal, and A25 18th, April, 2012 www.cninfo.com.cn
related transaction in 2012
of HK Commercial Daily
D69 of Securities Times, B71 of
Quarterly report of the first quarter of
China Securities Journal, and A26 18th, April, 2012 www.cninfo.com.cn
2012
of HK Commercial Daily
D69 of Securities Times, B71 of
Notice about convoking the general
China Securities Journal, and A26 18th, April, 2012 www.cninfo.com.cn
meeting of stockholders of 2011
of HK Commercial Daily
Suggestive announcement about
easing the restrictions on the D17 of Securities Times, B12 of
26th, April, 2012 www.cninfo.com.cn
share-reform China Securities Journal, and A10
restricted shares of HK Commercial Daily
Suggestive announcement about D17 of Securities Times, B14 of
convoking the general meeting of China Securities Journal, and A12 15th, May, 2012 www.cninfo.com.cn
stockholders of 2011 of HK Commercial Daily
Resolution announcement about the D20 of Securities Times, A36 of
general meeting of stockholders of China Securities Journal, and A4 24th, May, 2012 www.cninfo.com.cn
2011 of HK Commercial Daily
Resolution announcement about the D13 of Securities Times, B24 of
fourth meeting of seventh board of China Securities Journal, and A4 19th, June, 2012 www.cninfo.com.cn
directors of HK Commercial Daily
Announcement about trust D13 of Securities Times, B24 of
management to the self-owned idle China Securities Journal, and A4 19th, June, 2012 www.cninfo.com.cn
fund of HK Commercial Daily
45
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
VIII. Financial Report
(I) Auditing statement
Audited the semi-annual report or not
□ Yes √No □Non-applicable
(II) Financial statement
Whether consolidated statement or not:
√Yes □No □Non-applicable
Unless otherwise, currency for this statement refers to RMB (Yuan)
Currency used in note of financial statement is RMB (Yuan)
1. Consolidated Balance Sheet
Prepared by Weifu High-Technology Group Co., Ltd Unit: RMB
Balance at Balance at
Items Note
period-end period-begin
Current assets:
Monetary funds 3,036,948,091.15 855,053,599.38
Settlement provisions
Capital lent
Transaction finance asset
Notes receivable 1,336,149,142.95 1,227,018,757.27
Accounts receivable 1,052,438,087.17 1,167,123,155.04
Accounts paid in advance 113,541,051.42 183,407,859.04
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance receivable
Interest receivable
Dividend receivable 740,000.00 0.00
Other receivables 10,975,797.72 11,983,410.88
Purchase restituted finance asset
Inventories 811,404,440.82 883,582,090.78
Non-current asset due within one year
Other current assets 9,803,860.80 10,235,025.21
Total current assets 6,372,000,472.03 4,338,403,897.60
Non-current assets:
46
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Granted loans and advances
Finance asset available for sales 290,080,000.00 0.00
Held-to-maturity investment 0.00 0.00
Long-term account receivable 0.00 0.00
Long-term equity investment 2,287,831,997.97 1,786,481,972.85
Investment real estate 4,116,770.30 4,352,211.86
Fixed assets 1,400,625,225.46 1,357,509,509.59
Construction in progress 84,868,101.03 98,288,407.69
Engineering material 0.00 0.00
Disposal of fixed asset 0.00 0.00
Productive biological asset 0.00 0.00
Oil and gas asset 0.00 0.00
Intangible assets 246,367,172.82 249,921,186.58
Expense on Research and Development 0.00 0.00
Goodwill 1,784,086.79 1,784,086.79
Long-term expenses to be apportioned 11,875,475.93 9,144,280.20
Deferred income tax asset 81,732,075.68 83,331,883.03
Other non-current asset 0.00 0.00
Total non-current asset 4,409,280,905.98 3,590,813,538.59
Total assets 10,781,281,378.01 7,929,217,436.19
Current liabilities:
Short-term loans 0.00 495,000,000.00
Loan from central bank
Absorbing deposit and interbank deposit
Capital borrowed
Transaction financial liabilities
Notes payable 227,474,550.12 164,301,719.94
Accounts payable 1,222,229,280.36 1,297,893,239.74
Accounts received in advance 64,035,048.36 55,289,941.25
Selling financial asset of repurchase
Commission charge and commission payable
Wage payable 270,055,026.21 278,771,987.97
Taxes payable 20,898,677.32 77,737,123.74
Interest payable 150,000.00 930,000.00
47
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Dividend payable 228,689,028.10 3,444,762.15
Other accounts payable 97,476,943.44 83,991,571.43
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Non-current liabilities due within 1 year 0.00 3,000,000.00
Other current liabilities 30,463,401.86 34,608,609.47
Total current liabilities 2,161,471,955.77 2,494,968,955.69
Non-current liabilities:
Long-term loans
Bonds payable
Long-term account payable 18,500,909.00 18,840,000.00
Special accounts payable
Projected liabilities 0.00 0.00
Deferred income tax liabilities 16,265,258.90 2,689,975.40
Other non-current liabilities 73,034,000.00 72,330,000.00
Total non-current liabilities 107,800,167.90 93,859,975.40
Total liabilities 2,269,272,123.67 2,588,828,931.09
Owner’s equity (or shareholders’ equity):
Paid-up capital (or share capital) 680,133,995.00 567,275,995.00
Capital public reserve 3,710,425,869.52 895,918,416.59
Less: Inventory shares
Reasonable reserve
Surplus public reserve 283,637,997.50 283,637,997.50
Provision of general risk
Retained profit 3,559,468,968.74 3,317,227,992.26
Balance difference of foreign currency translation
Total owner’s equity attributable to parent company 8,233,666,830.76 5,064,060,401.35
Minority interests 278,342,423.58 276,328,103.75
Total owner’s equity(or shareholders’ equity) 8,512,009,254.34 5,340,388,505.10
Total liabilities and owner’s equity(or shareholders’ equity) 10,781,281,378.01 7,929,217,436.19
Legal representative: Chen Xuejun
Person in charge of accounting works: Ou Jianbin
Person in charge of accounting institution: Ou Jianbin
48
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
2. Balance Sheet of parent company
Unit: RMB
Balance at Balance at
Items Note
period-end period-begin
Current assets:
Monetary funds 2,310,590,268.95 189,135,416.49
Transaction finance asset
Notes receivable 517,050,490.64 440,248,528.54
Accounts receivable 614,128,537.07 822,357,590.99
Accounts paid in advance 30,315,103.59 58,227,907.25
Interest receivable
Dividend receivable 740,000.00 0.00
Other receivables 383,697,912.87 167,045,153.49
Inventories 227,377,933.29 296,385,165.44
Non-current asset due within one year
Other current assets
Total current assets 4,083,900,246.41 1,973,399,762.20
Non-current assets:
Finance asset available for sales 290,080,000.00 0.00
Held-to-maturity investment
Long-term account receivable
Long-term equity investment 3,057,787,595.65 2,576,168,955.22
Investment real estate
Fixed assets 688,048,540.69 689,680,279.76
Construction in progress 25,563,014.35 56,239,272.06
Engineering material
Disposal of fixed asset
Productive biological asset
Oil and gas asset
Intangible assets 185,875,736.07 187,843,427.92
Expense on Research and Development
Goodwill
Long-term expenses to be apportioned
Deferred income tax asset 47,956,761.07 47,881,534.77
Other non-current asset
49
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Total non-current asset 4,295,311,647.83 3,557,813,469.73
Total assets 8,379,211,894.24 5,531,213,231.93
Current liabilities:
Short-term loans 0.00 465,000,000.00
Transaction financial liabilities
Notes payable 89,740,719.79 85,000,000.00
Accounts payable 477,442,891.13 632,112,594.66
Accounts received in advance 14,511,627.43 8,150,899.35
Wage payable 182,898,744.83 175,803,158.72
Taxes payable 842,972.96 25,748,688.27
Interest payable 780,000.00
Dividend payable 204,040,198.50
Other accounts payable 147,198,836.56 69,856,690.02
Non-current liabilities due within 1 year
Other current liabilities 131,291.75
Total current liabilities 1,116,807,282.95 1,462,452,031.02
Non-current liabilities:
Long-term loans
Bonds payable
Long-term account payable
Special accounts payable
Projected liabilities
Deferred income tax liabilities 13,630,800.00
Other non-current liabilities 56,590,000.00 56,830,000.00
Total non-current liabilities 70,220,800.00 56,830,000.00
Total liabilities 1,187,028,082.95 1,519,282,031.02
Owner’s equity (or shareholders’ equity):
Paid-up capital (or share capital) 680,133,995.00 567,275,995.00
Capital public reserve 3,738,489,259.50 923,981,806.57
Less: Inventory shares
Reasonable reserve
Surplus public reserve 283,637,997.50 283,637,997.50
Provision of general risk
Retained profit 2,489,922,559.29 2,237,035,401.84
50
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Balance difference of foreign currency translation
Total owner’s equity(or shareholders’ equity) 7,192,183,811.29 4,011,931,200.91
Total liabilities and owner’s equity(or shareholders’ equity) 8,379,211,894.24 5,531,213,231.93
3. Consolidated Profit Statement
Unit: RMB
Amount in this Amount in last
Items Note
period period
I. Total operating income 2,622,741,134.00 3,277,559,746.96
Including: Operating income 2,622,741,134.00 3,277,559,746.96
Interest income
Insurance gained
Commission charge and commission income
II. Total operating cost 2,250,361,339.67 2,804,561,429.66
Including: Operating cost 1,935,729,790.13 2,426,221,608.75
Interest expense
Commission charge and commission expense
Cash surrender value
Net amount of expense of compensation
Net amount of withdrawal of insurance
contract reserve
Bonus expense of guarantee slip
Reinsurance expense
Operating tax and extras 16,273,053.72 18,420,616.07
Sales expenses 87,922,067.65 50,509,950.62
Administration expenses 220,879,377.54 289,086,649.01
Financial expenses -12,478,749.75 20,270,250.56
Losses of devaluation of asset 2,035,800.38 52,354.65
Add: Changing income of fair value(Loss is listed with
“-”)
Investment income (Loss is listed with “-”) 159,986,544.27 293,611,064.62
Including: Investment income on affiliated
159,246,544.27 293,611,064.62
company and joint venture
Exchange income (Loss is listed with “-”)
III. Operating profit (Loss is listed with “-”) 532,366,338.60 766,609,381.92
Add: Non-operating income 4,278,988.75 7,284,862.92
51
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Less: Non-operating expense 3,304,960.30 4,197,340.18
Including: Disposal loss of non-current asset 381,171.82 503,436.27
IV. Total Profit (Loss is listed with “-”) 533,340,367.05 769,696,904.66
Less: Income tax expense 60,396,042.65 95,344,637.40
V. Net profit (Net loss is listed with “-”) 472,944,324.40 674,352,267.26
Including: net profit realized before consolidation by
mergered party
Net profit attributable to owner’s of parent company 446,281,174.98 644,663,629.50
Minority shareholders’ gains and losses 26,663,149.42 29,688,637.76
VI. Earnings per share -- --
i. Basic earnings per share 0.69 1.14
ii. Diluted earnings per share 0.69 1.14
VII. Other consolidated income 77,241,200.00
VIII. Total comprehensive income 550,185,524.40 674,352,267.26
Total consolidated income attributable to owners of
523,522,374.98 644,663,629.50
parent company
Total consolidated income attributable to minority
26,663,149.42 29,688,637.76
shareholders
The merger realized net profit RMB 0.00 before consolidation during enterprises consolidation under a same
control.
Legal representative: Chen Xuejun
Person in charge of accounting works: Ou Jianbin
Person in charge of accounting institution: Ou Jianbin
4. Profit Statement of parent company
Unit: RMB
Amount in this Amount in last
Items Note
period period
I. Operating income 1,148,216,005.19 1,572,144,387.25
Less: operating cost 939,317,265.51 1,276,037,593.43
Operating tax and extras 5,899,177.59 4,627,595.77
Sales expenses 55,621,542.96 19,702,447.44
Administration expenses 92,245,305.10 114,319,388.36
Financial expenses -17,684,336.38 12,074,003.65
Losses of devaluation of asset 875,853.27 220,723.62
Add: Changing income of fair value(Loss is listed
with “-”)
Investment income (Loss is listed with “-”) 397,068,742.05 267,750,110.24
52
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Including: Investment income on affiliated company
137,803,640.43 267,750,110.24
and joint venture
II. Operating profit (Loss is listed with “-”) 469,009,939.19 412,912,745.22
Add: Non-operating income 36,932.20 3,643,945.37
Less: Non-operating expense 1,693,593.85 1,863,915.93
Including: Disposal loss of non-current asset 304,279.85 205,040.54
III. Total Profit (Loss is listed with “-”) 467,353,277.54 414,692,774.66
Less: Income tax expense 10,425,921.59 46,486,983.83
IV. Net profit (Net loss is listed with “-”) 456,927,355.95 368,205,790.83
V. Earnings per share -- --
i. Basic earnings per share
ii. Diluted earnings per share
VI. Other consolidated income 77,241,200.00
VII. Total comprehensive income 534,168,555.95 368,205,790.83
5. Consolidated Cash Flow Statement
Unit: RMB
Amount in this Amount in last
Item
period period
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing labor
3,164,050,264.06 3,103,973,047.42
services
Net increase of customer deposit and interbank deposit
Net increase of loan from central bank
Net increase of capital borrowed from other financial institution
Cash received from original insurance contract fee
Net cash received from reinsurance business
Net increase of insured savings and investment
Net increase of disposal of transaction financial asset
Cash received from interest, commission charge and commission
Net increase of capital borrowed
Net increase of returned business capital
Write-back of tax received 22,802,910.96 12,117,457.27
Other cash received concerning operating activities 27,837,513.35 13,351,259.84
Subtotal of cash inflow arising from operating activities 3,214,690,688.37 3,129,441,764.53
53
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Cash paid for purchasing commodities and receiving labor
2,058,291,904.26 2,372,737,792.86
service
Net increase of customer loans and advances
Net increase of deposits in central bank and interbank
Cash paid for original insurance contract compensation
Cash paid for interest, commission charge and commission
Cash paid for bonus of guarantee slip
Cash paid to/for staff and workers 281,857,048.58 250,024,693.71
Taxes paid 292,894,788.51 337,795,130.93
Other cash paid concerning operating activities 144,011,399.00 115,080,757.84
Subtotal of cash outflow arising from operating activities 2,777,055,140.35 3,075,638,375.34
Net cash flows arising from operating activities 437,635,548.02 53,803,389.19
II. Cash flows arising from investing activities:
Cash received from recovering investment 3,975,700.00
Cash received from investment income 174,072,662.98
Net cash received from disposal of fixed, intangible and other
899,816.40 7,126,366.00
long-term assets
Net cash received from disposal of subsidiaries and other units
Other cash received concerning investing activities 0.00 1,138,436.51
Subtotal of cash inflow from investing activities 4,875,516.40 182,337,465.49
Cash paid for purchasing fixed, intangible and other long-term
70,778,583.22 377,850,266.49
assets
Cash paid for investment 520,673,000.00
Net increase of mortgaged loans
Net cash received from subsidiaries and other units
Other cash paid concerning investing activities 0.00 0.00
Subtotal of cash outflow from investing activities 591,451,583.22 377,850,266.49
Net cash flows arising from investing activities -586,576,066.82 -195,512,801.00
III. Cash flows arising from financing activities
Cash received from absorbing investment 2,850,124,252.93 5,610,000.00
Including: Cash received from absorbing minority shareholders’
5,610,000.00
investment by subsidiaries
Cash received from loans 570,000,000.00 586,512,141.78
Cash received from issuing bonds
Other cash received concerning financing activities 8,404,657.07
54
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Subtotal of cash inflow from financing activities 3,428,528,910.00 592,122,141.78
Cash paid for settling debts 1,068,000,000.00 351,512,141.78
Cash paid for dividend and profit distributing or interest paying 9,320,531.46 29,491,293.22
Including: Dividend and profit of minority shareholder paid by
3,444,762.15 18,696,539.18
subsidiaries
Other cash paid concerning financing activities 4,593,872.70
Subtotal of cash outflow from financing activities 1,081,914,404.16 381,003,435.00
Net cash flows arising from financing activities 2,346,614,505.84 211,118,706.78
IV. Influence on cash and cash equivalents due to fluctuation in
exchange rate
V. Net increase of cash and cash equivalents 2,197,673,987.04 69,409,294.97
Add: Balance of cash and cash equivalents at the period -begin 745,778,764.22 465,219,784.67
VI. Balance of cash and cash equivalents at the period -end 2,943,452,751.26 534,629,079.64
6. Cash Flow Statement of parent company
Unit: RMB
Amount in this Amount in last
Item
period period
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing labor
1,480,345,261.22 1,646,992,101.70
services
Write-back of tax received
Other cash received concerning operating activities 44,372,662.28 576,527.71
Subtotal of cash inflow arising from operating activities 1,524,717,923.50 1,647,568,629.41
Cash paid for purchasing commodities and receiving labor
966,350,990.20 1,190,501,330.49
service
Cash paid to/for staff and workers 119,178,475.79 100,967,959.62
Taxes paid 111,236,992.45 108,357,907.68
Other cash paid concerning operating activities 287,015,340.52 144,846,109.46
Subtotal of cash outflow arising from operating activities 1,483,781,798.96 1,544,673,307.25
Net cash flows arising from operating activities 40,936,124.54 102,895,322.16
II. Cash flows arising from investing activities:
Cash received from recovering investment
Cash received from investment income 258,525,101.62 174,280,178.77
Net cash received from disposal of fixed, intangible and other
185,659.36 6,187,577.12
long-term assets
55
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Net cash received from disposal of subsidiaries and other units
Other cash received concerning investing activities
Subtotal of cash inflow from investing activities 258,710,760.98 180,467,755.89
Cash paid for purchasing fixed, intangible and other long-term
16,129,834.59 263,273,961.57
assets
Cash paid for investment 520,673,000.00 156,668,800.00
Net cash received from subsidiaries and other units
Other cash paid concerning investing activities
Subtotal of cash outflow from investing activities 536,802,834.59 419,942,761.57
Net cash flows arising from investing activities -278,092,073.61 -239,475,005.68
III. Cash flows arising from financing activities
Cash received from absorbing investment 2,850,124,252.93
Cash received from loans 570,000,000.00 556,512,141.78
Cash received from issuing bonds
Other cash received concerning financing activities 8,404,657.07
Subtotal of cash inflow from financing activities 3,428,528,910.00 556,512,141.78
Cash paid for settling debts 1,035,000,000.00 321,512,141.78
Cash paid for dividend and profit distributing or interest paying 6,564,955.56 10,794,754.04
Other cash paid concerning financing activities 4,593,872.70
Subtotal of cash outflow from financing activities 1,046,158,828.26 332,306,895.82
Net cash flows arising from financing activities 2,382,370,081.74 224,205,245.96
IV. Influence on cash and cash equivalents due to fluctuation in
exchange rate
V. Net increase of cash and cash equivalents 2,145,214,132.67 87,625,562.44
Add: Balance of cash and cash equivalents at the period -begin 132,135,416.49 85,169,165.70
VI. Balance of cash and cash equivalents at the period -end 2,277,349,549.16 172,794,728.14
56
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
7. Consolidated Statement on Changes of Owners' Equity
Amount in this period
Unit: RMB
Amount in this period
Owners' equity attributable to the parent company
Items
Minority’s Total owners’
Less:
Paid-up capital Reasonabl General risk equity equity
Capital reserves Treasury Surplus reserves Retained profit Others
(Share capital) e reserve provision
Stock
I. Balance at the end of last year 567,275,995.00 895,918,416.59 283,637,997.50 3,317,227,992.26 276,328,103.75 5,340,388,505.10
Add: Changes of accounting
policy
Error correction of the last period
Others
II. Balance at the beginning of this
567,275,995.00 895,918,416.59 283,637,997.50 3,317,227,992.26 276,328,103.75 5,340,388,505.10
year
III. Increase/ Decrease in this year
112,858,000.00 2,814,507,452.93 242,240,976.48 2,014,319.83 3,171,620,749.24
(Decrease is listed with'"-")
(i) Net profit 446,281,174.98 26,663,149.42 472,944,324.40
(ii) Other consolidated income 77,241,200.00 77,241,200.00
Subtotal of (i)and (ii) 77,241,200.00 446,281,174.98 26,663,149.42 550,185,524.40
(III) Owners' devoted and
112,858,000.00 2,737,266,252.93 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2,850,124,252.93
decreased capital
1. Owners' devoted capital 112,858,000.00 2,737,266,252.93 2,850,124,252.93
2. Amount calculated into owners'
equity paid in shares
3. Others
(IV)Profit distribution 0.00 0.00 0.00 0.00 0.00 0.00 -204,040,198.50 0.00 -24,648,829.59 -228,689,028.09
1. Withdrawal of surplus reserves
2. Withdrawal of general risk
provisions
3. Distribution for owners
-204,040,198.50 -24,648,829.59 -228,689,028.09
(shareholders)
4. Others
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
(V) Carrying forward internal
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
owners' equity
1. Capital reserves conversed to
capital (share capital)
2. Surplus reserves conversed to
capital (share capital)
3. Remedying loss with surplus
reserve
4. Others
(VI) Reasonable reserve
1. Withdrawal in this period
2. Usage in this period
(VII) Other
IV. Balance at the end of the
680,133,995.00 3,710,425,869.52 283,637,997.50 3,559,468,968.74 278,342,423.58 8,512,009,254.34
report period
Amount in last period
Unit: RMB
Amount in last period
Owners' equity attributable to the parent company
Items Minority’s Total owners’
Less:
Paid-up capital Reasonabl General risk equity equity
Capital reserves Treasury Surplus reserves Retained profit Others
(Share capital) e reserve provision
Stock
I. Balance at the end of last year 567,275,995.00 895,918,416.59 283,637,997.50 2,359,375,974.53 239,608,585.66 4,345,816,969.28
Add: retroactive adjustment
arising from enterprise
consolidation under the same
control
Add: Changes of accounting
policy
Error correction of the last period
Others
II. Balance at the beginning of this
567,275,995.00 895,918,416.59 283,637,997.50 2,359,375,974.53 239,608,585.66 4,345,816,969.28
year
III. Increase/ Decrease in this year
957,852,017.73 36,719,518.09 994,571,535.82
(Decrease is listed with'"-")
58
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
(i) Net profit 1,204,617,075.56 50,893,782.33 1,255,510,857.89
(ii) Other consolidated income
Subtotal of (i)and (ii) 1,204,617,075.56 50,893,782.33 1,255,510,857.89
(III) Owners' devoted and
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 13,348,460.37 13,348,460.37
decreased capital
1. Owners' devoted capital 13,348,460.37 13,348,460.37
2. Amount calculated into owners'
equity paid in shares
3. Others
(IV)Profit distribution 0.00 0.00 0.00 0.00 0.00 0.00 -246,765,057.83 0.00 -27,522,724.61 -274,287,782.44
1. Withdrawal of surplus reserves
2. Withdrawal of general risk
provisions
3. Distribution for owners
-246,765,057.83 -27,522,724.61 -274,287,782.44
(shareholders)
4. Others
(V) Carrying forward internal
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
owners' equity
1. Capital reserves conversed to
capital (share capital)
2. Surplus reserves conversed to
capital (share capital)
3. Remedying loss with surplus
reserve
4. Others
(VI) Reasonable reserve
1.Withdrawal in this period
2.Usage in this period
(VII) Other
IV. Balance at the end of the
567,275,995.00 895,918,416.59 283,637,997.50 3,317,227,992.26 276,328,103.75 5,340,388,505.10
report period
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
8. Statement on Changes of Owners' Equity of Parent Company
Amount in this period
Unit: RMB
Amount in this period
Item Less:
Paid-up capital Reasonable General risk Total owners’
Capital reserves Treasury Surplus reserves Retained profit
(Share capital) reserve reserve equity
Stock
I. Balance at the end of last year 567,275,995.00 923,981,806.57 283,637,997.50 2,237,035,401.84 4,011,931,200.91
Add: Changes of accounting policy
Error correction of the last period
Others
II. Balance at the beginning of this year 567,275,995.00 923,981,806.57 283,637,997.50 2,237,035,401.84 4,011,931,200.91
III. Increase/ Decrease in this year (Decrease is listed
112,858,000.00 2,814,507,452.93 252,887,157.45 3,180,252,610.38
with'"-")
(i) Net profit 456,927,355.95 456,927,355.95
(ii) Other consolidated income 77,241,200.00 77,241,200.00
Subtotal of (i)and (ii) 77,241,200.00 456,927,355.95 534,168,555.95
(III) Owners' devoted and decreased capital 112,858,000.00 2,737,266,252.93 0.00 0.00 0.00 0.00 0.00 2,850,124,252.93
1. Owners' devoted capital 112,858,000.00 2,737,266,252.93 2,850,124,252.93
2. Amount calculated into owners' equity paid in
shares
3. Others
(IV) Profit distribution 0.00 0.00 0.00 0.00 0.00 0.00 -204,040,198.50 -204,040,198.50
1. Withdrawal of surplus reserves
2. Withdrawal of general risk reserve
3. Distribution for owners (shareholders) -204,040,198.50 -204,040,198.50
4. Others
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
(V) Carrying forward internal owners' equity 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1. Capital reserves conversed to capital (share capital)
2. Surplus reserves conversed to capital (share
capital)
3. Remedying loss with surplus reserves
4. Others
(VI) Reasonable reserve
1. Withdrawal in this period
2. Usage in this period
(VII) Other
IV. Balance at the end of the report period 680,133,995.00 3,738,489,259.50 283,637,997.50 2,489,922,559.29 7,192,183,811.29
Amount in last year
Unit: RMB
Amount in last year
Item Less:
Paid-up capital Reasonable General risk Total owners’
Capital reserves Treasury Surplus reserves Retained profit
(Share capital) reserve reserve equity
Stock
I. Balance at the end of last year 567,275,995.00 923,981,806.57 283,637,997.50 1,483,763,204.41 3,258,659,003.48
Add: Changes of accounting policy
Error correction of the last period
Others
II. Balance at the beginning of this year 567,275,995.00 923,981,806.57 283,637,997.50 1,483,763,204.41 3,258,659,003.48
III. Increase/ Decrease in this year (Decrease is listed
753,272,197.43 753,272,197.43
with'"-")
(i) Net profit 1,000,037,255.26 1,000,037,255.26
(ii) Other consolidated income
Subtotal of (i)and (ii) 1,000,037,255.26 1,000,037,255.26
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
(III) Owners' devoted and decreased capital 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1. Owners' devoted capital
2. Amount calculated into owners' equity paid in
shares
3. Others
(IV) Profit distribution 0.00 0.00 0.00 0.00 0.00 0.00 -246,765,057.83 -246,765,057.83
1. Withdrawal of surplus reserves
2. Withdrawal of general risk reserve
3. Distribution for owners (shareholders) -246,765,057.83 -246,765,057.83
4. Others
(V) Carrying forward internal owners' equity 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1. Capital reserves conversed to capital (share capital)
2. Surplus reserves conversed to capital (share
capital)
3. Remedying loss with surplus reserves
4. Others
(VI) Reasonable reserve
3. Withdrawal in this period
4. Usage in this period
(VII) Other
IV. Balance at the end of the report period 567,275,995.00 923,981,806.57 283,637,997.50 2,237,035,401.84 4,011,931,200.91
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
( I I I ) Basic information of the Company
1. History development of the Company
By the approval of STGS (1992) No. 130 issued by Jiangsu Economic Restructuring Committee, Weifu
High-Technology Group Co., Ltd. (hereinafter referred to “the Company” or “Company”) was established as a
company of limited liability with funds raised from targeted sources, and registered at Wuxi Administration for
Industry & Commerce in October 1992. The original share capital of the Company totaled RMB 115.4355 million,
including state-owned share capital amounting to RMB 92.4355 million, public corporate share capital amounting
to RMB 8 million and inner employee share capital amounting to RMB 15 million.
In the year of 1994 and 1995, the Company was restructured and became a holding subsidiary of Wuxi Weifu
Group Co., Ltd (hereinafter referred to as “Weifu Group”).
By the approval of Jiangsu ERC and Shenzhen Securities Administration Office in August 1995, the Company
issued 68 million special ordinary shares (B-share) with value of RMB 1.00 for each, and the total value of those
shares amounted to RMB 68 million. After the issuance, the Company’s total share capital increased to RMB
183.4355 million.
By the approval of CSRC in June 1998, the Company issued 120 million RMB ordinary shares (A-share) at
Shenzhen Stock Exchange through on-line pricing and issuing. After the issuance, the total share capital of the
Company amounted to RMB 303.4355 million.
In the middle of 1999, deliberated and approved by the Board and Shareholders’ General Meeting, the Company
implemented the plan of granting 3 bonus shares for each 10 shares. After that, the total share capital of the
Company amounted to RMB 394.46615 million, of which state-owned shares amounted to RMB 120.16615
million, public corporate shares RMB 10.4 million, foreign-funded shares (B-share) RMB 88.40 million, RMB
ordinary shares (A-share) RMB 156 million and inner employee shares RMB 19.5 million.
In the year 2000, by the approval of the CSRC and based upon the total share capital of 303.4355 million shares
after the issuance of A-share in June 1998, the Company allotted 3 shares for each 10 shares, with a price of RMB
10 for each allotted share. Actually 41.9 million shares was allotted, and the total share capital after the allotment
increased to RMB 436.36615 million, of which state-owned corporate shares amounted to RMB 121.56615
million, public corporate shares RMB 10.4 million, foreign-funded shares (B-share) RMB 88.4 million and RMB
ordinary shares (A-share) RMB 216 million.
In April 2005, Board of Directors of the Company has examined and approved 2004 Profit Pre-distribution Plan,
and examined and approved by 2004 Shareholders’ General Meeting , the Company distributed 3 shares for each
10 shares to the whole shareholders totaling to 130,909,845 shares in 2005.
The Company registered at the Wuxi High and New Technology Development Zone and the registration number
was 320200000014926. The Company belongs to the mechanical industry and mainly engages in the manufacture
and sales of oil injection system and its accessories.
According to the Share Merger Reform Scheme of the Company that passed by related shareholders’ meeting of
Share Merger Reform and SGZF [2006] No.61 Reply on Questions about State-owned Equity Management in
Share Merger Reform of Weifu High-Technology Co., Ltd. issued by State-owned Assets Supervision &
Administration Commission of Jiangsu Province, the Weifu Group etc. 8 non-circulating shareholders arranged
pricing with granting 1.7 shares for each 10 shares to circulating A-share shareholders (totally granted 47,736,000
shares), so as to realize the originally non-circulating shares can be traded on market when satisfied certain
conditions, the scheme has been implemented on April 5, 2006.
On 27 May 2009, Weifu Group satisfied the consideration arrangement by dispatching 0.5 shares for each 10
shares based on the number of circulating A shares as prior to Share Merger Reform, according to the aforesaid
Share Merger Reform, with an aggregate of 14,039,979 shares dispatched. Subsequent to implementation of
dispatch of consideration shares, Weifu Group then held 100,021,999 shares of the Company, representing
17.63% of the total share capital of the Company.
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Pursuant to the document (XGZQ(2009)No.46) about “Approval for Merger of Wuxi Weifu Group Co., Ltd. by
Wuxi Industry Development Group Co., Ltd.” issued by the State-owned Assets Supervision and Administration
Commission of Wuxi City Government, Wuxi Industry Development Group Co., Ltd. (hereinafter referred to as
Wuxi Industry Group) acquired Weifu Group. After the merger, Weifu Group was then revoked, and its assets and
credits & debts were transferred to be under the name of Wuxi Industry Group. Accordingly, Wuxi Industry
Group became the first largest shareholder of the Company since then.
On 21 January 2012, the “Reply on Approval of Privately Share Offering of Weifu High-Technology Group Co.,
Ltd” (ZJXK[2012] No. 109) issued by CSRC, approved that the Company’s privately offering new shares no more
than 112,858,000 shares in total. Each shares offering with price of 25.395 yuan. The privately offering of the
Company totally offer 2 objects: Wuxi Industry Group and ROBERT BOSCH GMBH (German Robert Bosch Co.,
Ltd) . On 29 February 2012, after privately offering total share capital of the Company amounting as 680133995
shares, 20% were held by Wuxi Industry Group, the first largest shareholder of the Company; ROBERT BOSCH
GMBH (German Robert Bosch Co., Ltd) held 14% of the equity, the second largest shareholder of the Company.
2. Registered place, organization structure and head office of the Company
Registered place and head office of the Company: Wuxi, Jiangsu
The Company sets up Shareholders’ General Meeting, the Board of Directors and the Supervisory Committee.
The Company sets up Administration Department, Engineering Technology Research Institution, Human
Resources Department, Marketing Department, Finance Control Department, Project Purchase Department, MS
Business Segment, AC Business Segment, and subsidiaries such as Wuxi Weifu Leader Catalytic Converter Co.,
Ltd. (referred to as Weifu Leader), Nanjing Weifu Jinning Co., Ltd. (referred to as Weifu Jinning), and Wuxi
Weifu Diesel System Co., Ltd. (referred to as Weifu Diesel System).
3. Business nature and major operation activities of the Company
Operation scope of parent company: manufacture of engine fuel oil system products, fuel oil system testers and
equipments; sales of energy-oriented machinery, hardware & electric materials, chemical products and raw
materials (other than chemical dangerous). Auto spare parts, autos (other than autos under-9 seats); repair of
engine, technological development and consultancy service of machinery industry; import and export business in
respect of diversified commodities and technologies (other than those commodities and technologies limited or
forbidden by the State for import and export) by self-operation and works as agent for such business
Major subsidiaries respectively activate in production and sales of engine accessories, auto spare parts, mufflers,
and purifiers.
4. Relevant party offering approval reporting of financial statements and date thereof
Financial statements of the Company were approved by the Board of Directors for reporting dated 27 August
2012.
(IV) Major Accounting Policies, Accounting Estimation and Previous Errors of the Company
1. Basis of preparation of financial statements
The financial statement were stated in compliance with Accounting Standard for Enterprises No.30-Presentation
of Financial Statement, with recognitions and measurements made by reference to Accounting Standard for
Enterprises and Application Instruments thereof promulgated by the Ministry of Finance dated 15 February 2006
in respect of the actual transactions and proceedings, on a basis of ongoing operation.
2. Statement on observation of Accounting Standard for Enterprises
Financial statements prepared by the Company were in accordance with requirements of Accounting Standard for
Enterprises, which truly and completely reflected the financial information of the Company, such as financial
position, operation achievements and cash flow.
3. Accounting period
The accounting period of the Company comprises of annual period and interim period, among which, the annual
period commences from 1 January to 31 December, and interim period includes monthly, quarterly and half-year.
4. Currency used in book-keeping
The Company’s reporting currency is the RMB Yuan.
Book-keeping currency for oversea subsidiary
Nil
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5. Accounting treatment methods for business combination under and not under the same
control
(1)Business combination under the same control
Business combination under the same control: consideration paid by acquirer for combination and net assets
acquired by him shall all be measured with carrying value. Difference between carrying values of net assets and
combination consideration respectively obtained and paid by acquirer over total par value of shares in issue shall
be used to adjust capital reserve; when capital reserve is insufficient for offset, then retained profit shall be
adjusted. All direct related expenses arising from business combination, including auditing expenses paid for
combination, evaluation expenses and law service expenses, shall be recorded in current gains and losses upon
occurrence; while procedure charge and commission arising from issuance of equity securities or bonds in relation
to business combination shall be accounted in initial measurement amount of shareholders’ equity or liabilities.
(2) Business combination not under the same control
Business combination not under the same control: combination cost paid by acquirer and net recognizable assets
obtained from combination shall be measured at fair value. In the event that difference between combination costs
over fair value of net recognizable assets obtained from combination is positive, thus such difference shall be
recognized as goodwill; if negative, and then shall be accounted in current gains and losses. All direct related
expenses arising from business combination including auditing expenses paid for combination, evaluation
expenses and law service expenses shall be recorded in business combination cost; while procedure charge and
commission arising from issuance of equity securities or bonds in relation to business combination shall be
accounted in initial measurement amount of shareholders’ equity or liabilities.
6. Preparation method for consolidated statements
(1) Preparing method of consolidated financial statements
Confirmation principle of consolidation scope
Preparation of the consolidation financial statement of the Company mainly complied with the consolidation
scope recognized by Parent Company Theory, details consolidation scope as:
①More than half of the equity capital of the investee enterprise that owned by Parent company, directly/indirectly
and jointly owned more than half of the equity capital by indirectly and directly included;
②Other investee enterprises control by Parent Company including:
A. Holding more than half of voting right of the investee through agreement with other investors of the investee
enterprises; ；
B. Having the rights of financial and operation strategy controlled according to Article of Association of
Agreement;
C. Having the rights of appointment and dismissal on majority personnel’s in Board or in similar power institution
of the enterprise;
D. Having more than half of the rights to vote in Board or similar power institution of the enterprise.
Measures used in consolidation
①The Company consolidations permit since the day of actual control right obtained; cease consolidation since the
day of control right lost. Consolidation financial statement based on the financial statement of the Company and
other relevant information of vary subsidiaries that joint in the consolidation scope, adjusted long-term equity
investment to subsidiaries according to equity method, off-setting the investment, transaction and contacts
between the Company and vary subsidiaries that in the consolidation scope, consolidated for preparation after
minority shareholders’ gains/loss and minority shareholders’ equity calculation.
②Concerning the different accounting policy or accounting period between the Company and subsidiaries,
consolidating after adjustment on subsidiaries’ financial statement based on the Company’s accounting policy or
accounting period.
③Concerning the subsidiary obtained under combination with different control, adjusted several financial
statement of the subsidiary based on the fair value of recognizable net assets on purchased day while financial
statement consolidation; concerning the subsidiary obtained under combination with same control, considered
current status of being control by ultimate controller for consolidation while financial statement consolidation.
(2)Disclosure of related accounting method for buy-and-resell or sell-and-repurchase of equities in the same
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subsidiary within two successive accounting years
Nil
7. Determination criteria of cash and cash equivalent
Cash equivalent represents such kind of investment featuring with short term (generally due within 3 months since
purchase day), active liquidity, being easy for converting to cash with already-known amount, as well as tiny
exposure to value change risks.
8. Foreign currency business and the conversion of foreign currency statement
(1) Foreign currency business
Foreign currency business is accounted with amount denominated in RMB as translated at the spot
exchange rate as of the occurrence day of such business. The occurred foreign currency exchange
business or transactions with foreign currency exchange involved shall be translated at the effective
exchange rate (i.e. exchange rate adopted by banks for such transactions) adopted by such
transaction.
(2) Translation of foreign currency statement
As at balance sheet date, division between foreign currency monetary items and foreign currency non-monetary
items are dealt with according to the following principles:
Foreign currency monetary items are translated at spot exchange rate as of balance sheet date, and then recorded
in current gains and losses when happening during normal operation period; exchange gains and losses related to
borrowings for purchasing fixed assets are disposed with principle of capitalization of borrowing expense.
Monetary item represents the monetary capital, and assets or liabilities respectively received or paid at fixed or
insurable amount, among other things, stock cash, bank deposit, account receivables, other receivables, long-term
receivables, short-term loans, account payables, other payables, long-term loans, bond payables and long-term
payables, etc.
Foreign currency non-monetary items are translated at spot exchange rate as of transaction date, with no change in
its amount accounted in standard currency. Non-monetary items represent items except for monetary items.
As for foreign currency non-monetary items measured at fair value, translation is subject to the spot exchange rate
as of the date when fair value is recognized. Difference between the accounted standard currency amount
subsequent to translation and its original accounted standard currency amount is dealt with as movement in fair
value (movement in exchange rate included), and then recorded in current gains and losses.
9. Financial instruments
Financial instruments including financial assets, financial liability and equity instrument
(1) Classification of financial instruments
According to the purpose of obtaining the held financial assets and assuming the financial liabilities,
the management divides it into: financial assets or financial liabilities metering by fair value and
whose changes reckoned in the current profits and losses, including transaction financial assets or
financial liabilities(and directly appointed financial assets or financial liabilities metering by fair
value and whose changes reckoned in the current profits and losses); held-to-maturity investment;
accounts receivables; financial assets available for sale; other financial liabilities, etc.
(2) Recognition basis and measurement method for financial instruments
In terms of investment purposes and economic natures, the Company divides its financial assets into
transactional financial assets, financial assets available for sale, account receivables and
held-to-maturity investments, among which, transactional financial asset is measured at fair value
and movement of its fair value is recorded in current gains and losses; financial asset available for
sale is measured at fair value and movement of its fair value is recorded in shareholders’ equity;
account receivables and held-to-maturity investments are measured at amortized cost.
In terms of economic nature, the Company divides its financial liabilities into two groups, namely
financial liabilities at fair value through gains and losses and other financial liabilities at amortized
cost.
(3) Recognition basis and measurement method for transfer of financial assets
66
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
That the Company grants or delivers financial assets to party other than the issuer of such financial
assets equals transfer of financial assets. Financial assets transferred could be the entire or part of
such financial assets. Two forms are listed as follows:
①Transfer of right for collecting cash flow of financial assets to another party;
②Transfer financial assets to another party, while the aforementioned right is retained, with
obligation of paying such cash flow to final collector
In the even that the Company has transferred almost all risks and remunerations arising from
ownership of all or part financial assets to another party, accordingly, recognition for such entire or
part financial assets shall be ceased. Gains and losses are determined by the received consideration
less the carrying value of the transferred financial assets. Meanwhile, the original accumulated
gains or losses of financial assets recognized in the owners’ equity shall transferred to gains and
losses; when all risks and remunerations attached to ownership are retained, recognition for such
entire or part financial assets shall continue, and the consideration received shall be viewed as
financial liabilities.
As for the financial assets which the Company has neither transferred nor retained all risks and
remunerations attached to ownership of such financial assets, while control upon such financial
assets still exists, recognition shall be conducted in light of the degree of its continuous involvement
in the transferred financial assets. Accordingly, relevant liabilities shall be recognized.
(4) Recognition condition for termination of financial liability
Upon satisfaction of one of the following condition, financial assets will immediately experience
discontinued recognition:
①Right entitled by contract in respect of collection of cash flow from such financial asset
terminates.
②Such financial assets have been transferred and meet discontinued recognition condition for
financial assets as regulated by Accounting Standard for Enterprise No.23-Transfer of Financial
Assets.
Only when present obligations under financial liability have been released entirely or partly, could
cease recognition of such financial liability or part thereof.
(5) Deciding of fair value of financial assets and financial liabilities
① In case of an active market, financial assets or financial liabilities which are respectively held and
proposed to be undertaken by the Company are subject to the prevailing offer price of such market,
and financial assets or financial liabilities which are respectively proposed to be held and
undertaken by the Company are subject to the prevailing asked price of such market. In case of
absence of such prevailing offer or asked prices, market quotation of the latest transaction or
adjusted market quotation of the latest transaction shall be adopted, except that there is clear
evidence showing that such market quotation is not fair value.
② In case of absence of an active market, the Company recognizes fair value by reference to
valuation technology which includes reference to the price adopted by parties who are willing to
make business and knowing conditions quite well in their latest transactions, reference to prevailing
fair values of other financial instruments with similar essence, discount cash flow method and
option pricing pattern.
(6) Impairment of financial assets (excluding account receivable)
The Company conducts inspection on carrying values of financial assets, except for transactional
financial assets, as at balance sheet date. If there is objective evidence indicating that impairment
has happened to financial assets, impairment reserve then shall be provided. Financial asset with
great amount in single item is subject to separate impairment test. In case of any objective evidence
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
indicating that impairment has happened to such financial asset, impairment loss shall be
recognized and recorded in current gains and losses. As for the financial assets with no great
amount in single item and those which prove to be not impaired after separate test, the Company
will conduct impairment test on basis of credit portfolio which is determined in light of customers’
credit records and historical bad debts, so as to recognize impairment loss.
Objective evidence indicating impairment happens to financial assets means the proceedings
meeting the three characteristics: actually occurred subsequent to initial recognition of such
financial assets, bring influence over the estimated future cash flow of such financial assets, and
such influence could be reliably measured by the Company.
The followings are included in objective evidences indicating impairment happens to financial
assets:
A: Serious financial difficulty happens to issuer or debtor;
B: Breach of terms of contract by debtor, such as breach or overdue in repaying interest or
principal;
C: Creditor makes concession for debtors who experience financial trouble in light of consideration
for economy or laws;
D: Debtor is very likely to experience bankrupt or financial reorganization;
E: Financial assets are not able to be traded in active market since material financial difficulty
happens to issuer;
F: It is unable to judge whether cash flow from certain asset in a group of financial assets has
decreased, while it is finally found that the estimated future cash flow of such financial asset has
actually decreased since its initial recognition and the decrease can be reliably measured by
reference to the general valuation based on open data. For example, payment capacity of debtor of
such financial assets portfolio gradually worsens, or unemployment in country or region where the
debtor locates risen, price of guaranty falls greatly in the place where it locate, and the industry in
which it belongs to is unpromising;
G: Material negative changes happen to technologies, markets, economy or law environment in
which debtor operates, which leads to that equity instrument investor is not likely to be able to
recover investment cost;
H: Fair value of equity instrument investment experiences severe or non-temporary falling;
I: Other objective evidence indicating impairment happens to financial assets.
In the event of impairment in financial asset at amortized cost, impairment loss is calculated based
on the difference between carrying value and present value of estimated future cash flow discounted
at effective interest rate.
After impairment loss is recognized for financial asset at amortized cost, if there is objective
evidence indicating value of such financial asset has recovered, which is objectively related to
proceedings occurred after recognition of such loss, the original impairment loss shall be reversed
and recorded in current gains and losses. However, the carrying value subsequent to such reversal
shall not exceed the amortized cost of such financial asset as at the reversal date on assumption that
such impairment loss had not been provided.
For impairment in financial assets available for sale, the original accumulated loss through owners’
equity directly arising from falling fair value shall be reversed to current gains and losses.
(7)As for reclassification of un-matured held-to-maturity investments into financial assets available for sale,
please explain the holding purposes or references for change of ability
Nil
10. Recognition standards and accrual method for bad debt provision for accounts receivable
(1) Bad debt provision for accounts receivable with single major amount
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
The Company’s account receivables with above RMB 1
million in single item is defined as account receivables with
significant amount in single item. Such kind of account
receivables are recognized as bad debts in case of impossible
Determine basis or amount standards for single significant amount collection though with bankrupt properties or heritages of
debtors due to their bankrupt or death, or in the even that
debtors haven’t implemented their repayment obligations
over 3 years upon expiration and there are obvious evidences
indicating impossible collection.
As for account receivables with significant amount in single
item which can not be directly recognized as bad debts, debt
provision shall be provided according to the Company’s
withdrawal method for account with single significant amount and
policies by aged analysis method. 100% bad debt provision
withdrawal single item bad debt provision
shall be provided for those account receivables with great
amount in single item which can be directly recognized as
bad debts
(2) Accounts whose bad debts provision was accrued by combination
Methods on withdrawal of bad debt
Combination Basis for combination recognized
provision based on combination
A combination classified by age as major risk characteristic,
Age combination Age analysis method
withdrawal bad debt provision by age analysis method
In combination, accounts whose bad debts provision was accrued by age analysis:
√ Applicable □ non-applicable
Account age Rate for receivables (%) Rate for other receivables (%)
Within 1 year (included)
Within 6 months 0% 0%
6 months to 1 year 10% 10%
1－2 years 20% 20%
2－3 years 40% 40%
Over 3 years 100% 100%
3－4 years 100% 100%
4－5 years 100% 100%
Over 5 years 100% 100%
In combination, withdrawal proportion of bad debt provision based on balance proportion:
□applicable √non-applicable
In combination, withdrawal proportion of bad debt provision based on other methods:
□applicable √non-applicable
(3) Accounts with single significant amount and bad debts provision accrued individually
Reasons for withdrawal single item bad debt provision:
Account receivable meeting the following conditions: account receivable whose single amount is not significant,
impossible collection though with bankrupt properties or heritages of debtors due to their bankrupt or death,
debtors haven’t implemented their repayment obligations over 3 years upon expiration and there are obvious
evidences indicating impossible collection.
Withdrawal method for bad debt provision:
100% for provision percentage for percentage of total accounts receivable outstanding and 100% for provision
percentage for percentage of total other receivable outstanding
11. Inventories
(1)Classification of inventories
The Company’s inventories are categorized into stock materials, product in process and stock goods
ect.
(2)Pricing for delivered inventories
□ FIFO □Weighted Average □ Specific Identification √Other
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
A. Generally, stock materials are calculated at planned cost. Material cost difference is individually
set according to classification of grant types. Pursuant to the difference between the planned cost of
the received or delivered raw materials and the material cost the aforesaid cost should share after
carrying forward at period-end, the Company adjusts the planned cost to effective cost; finished
products are priced at effective costs, and carried forward to operating cost by weighted average
method when being delivered;
B. Products in process are priced at effective costs, and carried forward to finished products at
actually occurred cost;
C. Finished self-produced products are priced at effective costs, and carried forward to operating
cost by weighted average method; external purchase goods (from import and export trades) are
carried forward to sales cost by individual pricing method.
(3)Recognition evidence for net realizable value of inventories and withdrawal method for
inventory impairment provision
Inventories as at period-end are priced at the lower of costs and net realizable values; at period end,
on the basis of overall clearance about inventories, inventory impairment provision is withdrew for
uncollectible part of costs of inventories which result from destroy of inventories, out-of-time of all
and part inventories, or sales price lowering than cost. Inventory impairment provision for stock
goods and quantity of raw materials is subject to the difference between costs of single inventory
item over its net realizable value. As for other raw materials with large quantity and comparatively
low unit prices, inventory impairment provision is withdrawn pursuant to categories.
As for inventories such as stock goods and materials available for direct sales, their net realizable
values are determined by their estimated selling prices less estimated sales expenses and relevant
taxes. For material inventories held for purpose of production, their net realizable values are
determined by the estimated selling prices of finished products less estimated costs, estimated sales
expenses and relevant taxes accumulated till completion of production. As for inventories held for
implementation of sales contracts or service contracts, their net realizable values are calculated on
the basis of contract prices. In the event that inventories held by a company exceed order amount as
agreed in sales contracts, net realizable values of the surplus part are calculated on the basis of
normal sale price.
(4) Inventory system
√Perpetual Inventory System □ Periodic Inventory System □ Other
Inventory system is perpetual inventory system.
(5) Amortization of low-value consumables and wrappage
Low-value consumables
Amortization Method: one-off amortization
Wrappage
Amortization Method: one-off amortization
12. Long-term equity investment
(1)Recognition of initial investment cost
Long-term equity investment mainly includes the equity investments made to subsidiaries, joint
ventures and associates, and the equity investment which couldn’t entitle the Company to conduct
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control, common control or significant influence over the invested units and which have no
quotation price in active market and whose fair value could not be able to measured surely.
Initial investment cost of long-term equity investment of the Company is recognized by the
following ways based on different acquisition ways:
①In situation of a long-term equity investment acquired through business combination under
common control, the carrying value of the owners’ equity of the acquired company as at the
combination date is deemed as initial investment cost for this long-term equity investment;
difference between acquisition cost and initial investment cost is used to adjust capital reserve. In
case of insufficient capital reserve for offset, retained profit shall be then adjusted.
②In situation of a long-term equity investment acquired through business combination not under
common control, the initial investment cost of long-term equity investment is determined at the fair
value of assets involved at trading dated, equity instrument issued as well as liabilities occurred or
undertaken. Realizable assets and liabilities undertaken by such assets (include contingent liabilities)
of the party being combined as at the combination date are all measured at fair values, without
consideration to amount of minority interests. The surplus of combination cost less fair value net
realizable assets of the party being combined is recorded as goodwill, and the deficit is directly
recognized in the consolidated statement of gains and losses.
③Long-term investments obtained through other ways
A. Initial investment cost of long-term equity investment obtained through cash payment is
determined according to actual payment for purchase.
B. Initial investment cost of long-term equity investment obtained through issuance of equity
securities is determined at fair value of such securities.
C. Initial investment cost of long-term equity investment injected by investor is determined at the
agreed value in investment contract or agreement. In case of an unfair contract or agreement value,
measurement shall be conducted at fair value.
D. Initial investment cost of long-term equity investment (exchanged-in) obtained through exchange
with non-monetary assets, which is of commercial nature, is determined at fair value of the assets
exchanged-out; otherwise determined at carrying value of the assets exchanged-out if it is not of
commercial nature.
E. Initial investment cost of long-term equity investment obtained through debt reorganization is
determined at fair value of such investment.
(2)Recognition method for subsequent measurement and gains and losses
①Investment to subsidiaries is calculated under cost method
It is referred to the equity investment made to subsidiaries held by the Company which can conduct
control upon invested unit. If the Company holds over 50% equities of an entity or has control
power in such entity though equity holding is fewer than 50%, such entity comprises a subsidiary of
the Company.
②Investment to joint ventures or associates is calculated under equity method
It is referred to the equity investment made to joint ventures held by the Company which can
conduct common control upon the joint venture with other joint parties; it is referred to the equity
investment made to associates held by the Company which has material influence upon such
associates. In the event that the Company holds equities of an entity from 20% to 50% and no
essential control exists in such entity meanwhile or that though the Company holds equities of an
entity fewer than 20% while it has material influence upon such entity, then the entity shall be
deemed as a joint venture or associate of the Company.
When recognizing its share in net gains and losses of the invested unit, the Company shall achieve
recognition based on fair values of various realizable assets of such invested unit upon obtaining
such investment after adjustment in net profit of such invested unit.
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In case of any inconsistency of the accounting policies and accounting periods adopted by invested
unit and the Company, financial statements of such invested unit shall be subject to adjustment in
compliance with accounting policies and accounting periods adopted by the Company, so as to
recognize investment gains and losses on that basis.
As for treatment for other movement of owners’ equity other than net gains and losses of invested
unit, carrying value of long-term equity investment shall be subject to adjustment which shall be
then recorded in owners’ equity.
③Long-term equity investment to entities where the Company has no control, common control or
material influence
Long-term equity investment which has no quotation in active market and whose fair value could
not be reliably measured is calculated under cost method.
Long-term equity investment which has quotation in active market or whose fair value could be
reliably measured is presented under item of financial asset available for sale, and is measured at
fair value, and fair value movement thereof shall be recorded in shareholders’ equity.
(3)Reference for confirmation of common control and material influence in invested unit
Common control over invested unit means common control over certain economic activity pursuant
to contract agreement, and only exists when investors who need to share control power on material
financial and operation decisions related to such economic activity make unanimous agreement.
That a party has material influence upon invested unit means that such party has power to join
decision-making related to finance and operation decisions of the invested unit, while no ability of
control or joint control with other parties upon establishement of such decisions.
(4)Impairment test method and withdrawal method for impairment provision
If any impairment indication is found in long-term equity investment by the Company in its
period-end inspection, the recoverable amount shall be estimated. In case of such recoverable
amount lowering than its carrying value, impairment provision shall be withdrawn for long-term
investment by reference to the difference of the aforesaid two items.
As for long-term equity investment which has no quotation in active market and whose fair value
could not be reliably measured, its impairment loss is determined by reference to its carrying value
less the amount recognized through discounting future cash flow at the prevailing market yield ratio
of similar financial assets, and then recorded in current gains and losses.
As for long-term equity investment except for financial assets available for sale, its impairment
provision will not be reversed during asset permanent period once it is withdrawn. Impairment loss
of financial assets available for sale can be reversed through equities.
13. Investment real estate
Investment real estate is stated at cost. During which, the cost of externally purchased properties
held-for-investment includes purchasing price, relevant taxes and surcharges and other expenses
which are directly attributable to the asset. Cost of self construction of properties held for
investment is composed of necessary expenses occurred for constructing those assets to a state
expected to be available for use. Properties held for investment by investors are stated at the value
agreed in an investment contract or agreement, but those under contract or agreement without fair
value are stated at fair value.
The Company adopts cost methodology amid subsequent measurement of properties held for
investment, while depreciation and amortization is calculated using the straight-line method
according to their estimated useful lives.
The basis of provision for impairment of properties held for investment is referred to the provision
for impairment of relevant fixed assets.
14. Fixed assets
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(1) Recognition of fixed assets
Fixed assets refer to the buildings, machinery and equipment, transportation vehicle and other
equipments related to operation with useful lives of more than one year and held for production of
products, provision of labor, lease or operation. A fixed asset is recognized when it is Contingent
that the relevant economic benefits flow into the enterprise and the cost of the fixed assets can be
reliably measured.
(2) Basis of recognition and method of measurement of fixed assets by financing lease
The assets will be classified as fixed assets by financing lease if the Company satisfies one or more
of the following conditions:
①As stipulated in the lease agreement (or a reasonable judgment made pursuant to relevant
conditions at the commencement date of the lease), the ownership of fixed assets by financing lease
can be passed to the Company when the lease expires;
②As the Company has a option to acquire the leased fixed assets and the agreed price of purchase
is far below the fair value of leased fixed assets at the time of exercise of the option, it is certain that
the Company will exercise the option at the commencement date of the lease;
③Despite that the ownership of fixed assets is not transferable, the lease period represents 75% or
more of the useful life of leased fixed assets;
④The present value of the minimum lease payment by the Company at the commencement date of
lease is equal to 90% or more of the fair value of leased fixed assets at the commencement date of
lease. The present value of the minimum lease payment received by the lesser at the commencement
date of lease is equal to 90% or more of the fair value of leased fixed assets at the commencement
date of lease;
⑤ Due to the special nature of the leased assets, those assets can be used only by the Company if
without any substantial renovation;
⑥The fixed assets by financing lease is carried at the lower of the fair value of the leased fixed
assets at the commencement date of lease and the present value of the minimum lease payment.
(3) Depreciation of fixed assets
Classification Depreciation time(Year) Residual rate (%) Annual depreciation rate (%)
House and Building 20 - 35 years 5 2.71-4.75
Machinery equipment 10 years 5 9.50
Electronic equipment 3-5 years 5 19.00-31.67
Transportation equipment 4-5 years 5 19.00-23.75
Other equipment 5-10 years 5 9.50-19.00
Fixed assts rent-in by financing: -- -- --
Including: House and Building
Machinery equipment
Electronic equipment
Transportation equipment
Other equipment
(4) Impairment testing of fixed assets and provision for impairment
At the end of the Reporting Period, the Company carries out a review on fixed assets. If the
following conditions exist, the Company shall value the recoverable amount of fixed assets in order
to determine whether there is any impairment of fixed assets. For fixed assets with recoverable
amount falling below the carrying amount, the Company will make a provision for impairment loss
on fixed asset equals to an amount of the difference between the recoverable amount and the
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carrying amount. Provision is made based on a single item basis, and based on a group of assets to
which the assets belong to if it is hard to estimate the recoverable amount of the single assets. The
impairment provision cannot be reversed in the period of duration of the assets once it is provided.
①There is a significant decrease in the market price of fixed assets. Such decrease is beyond any
decrease to the large extent in the market price as time goes by or any expected decrease from
normal use of fixed assets;
②Fixed assets are obsolete and damaged;
③There is a significant negative change to the intended use of fixed assets, such as idleness or
forthcoming idleness of the fixed assets, termination or restructuring of the operating business to
which the fixed assets belong to and disposal of fixed assets earlier than the end of its useful life,
thereby resulting in negative influence on the Company;
④There is a significant current or recent change in the economic, technological and legal
environment in which the Company operates and in the market in which fixed assets are, thereby
resulting in negative influence on the Company;
⑤There is a significant increase in the market interest rate or return on investment in other markets,
posing a potential impact on the discount rate on the calculation of the present value of the
estimated future cash flows, thereby resulting in significant decrease in recoverable amount of fixed
assets;
⑥There is evidence from internal reports of the enterprise that the economic benefits of the fixed
assets have been lower or will be lower than expected, for example, the net cash flows or operating
profits (or losses) of the fixed assets are far lower (or higher) than the expected amount;
⑦Other circumstances showing an indication of impairment of fixed assets
(5) Other explanation
Nil
15. Construction in process
(1) Classification of construction in progress
Calculated construction in process by items defined.
(2) Standard and timing of converting projects under construction into fixed assets
From the date on which the fixed assets built by the Company come into an expected usable state,
the projects under construction are converted into fixed assets on the basis of the estimated value of
project estimates or pricing or project actual costs, etc. Depreciation is calculated from the next
month. Further adjustments are made to the difference of the original value of fixed assets after
final accounting is completed upon completion of projects; however, the original depreciation is not
adjusted.
(3) Method of impairment testing and impairment provision for construction in progress
The Company carries out a comprehensive inspection of projects under construction at the
conclusion of each year. Where there is an indication of impairment, the recoverable amount is
estimated and impairment is provided on the basis of the difference between the amount recoverable
by a project and the carrying amount of such project. Impairment provision is not reversed during
the period of duration of the assets once it is provided.
16. Borrowing costs
(1) Recognition of capitalization of borrowing costs
Borrowing costs comprise interest occurred, amortization of discounts or premiums, ancillary costs
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and exchange differences in connection with foreign currency borrowings. The borrowing costs of
the Company, which incur from the special borrowings occupied by the fixed assets that need more
than one year (including one year) for construction, development of investment properties or
inventories or from general borrowings, are capitalized and recorded in relevant assets costs; other
borrowing costs are recognized as expenses and recorded in the profit or loss in the period when
they are occurred. Relevant borrowing costs start to be capitalized when all of the following three
conditions are met:
① Capital expenditure has been occurred;
② Borrowing costs have been occurred;
③Acquisition or construction necessary for the assets to come into an expected usable state has
been carried out.
(2) Period of capitalization of borrowing costs
The borrowing costs in relation to acquisition or construction of fixed assets, investment properties
and inventories, incurring before the assets reach an expected usable state or saleable state, are
recorded in the costs of the assets when the above conditions of capitalization are met.
(3) Capitalize cost suspension
When acquisition or construction of fixed assets undergo abnormal suspension, and the suspension
lasts for more than 3 months consecutively, then the capitalization of suspension borrowing ceases
and will be recognized as current expenses, until the acquisition or construction of assets start again.
When the expected usable state or saleable state is achieved, capitalization of borrowing costs
ceases, and the borrowing costs incurring subsequently are directly recorded into financial expenses
in the period when they are occurred.
(4) Calculation of capitalized amounts of borrowing costs
In respect of the special borrowings borrowed for acquisition, construction or production and
development of the assets qualified for capitalization, the amount of interests expenses of the
special borrowings actually occurred in the period less interest income derived from unused
borrowings deposited in banks or less investment income derived from provisional investment, are
recognized.
With respect to the general borrowings occupied for acquisition, construction or production and
development of the assets qualified for capitalization, the capitalized interest amount for general
borrowings is calculated and recognized by multiplying a weighted average of the accumulated
expenditure on the assets in excess of the expenditure on the some assets of the special borrowings,
by a capitalization rate for general borrowings. The capitalization rate is determined by calculation
of the weighted average interest rate of the general borrowings.
17. Biological assets
Nil
18. Oil/gas assets
Nil
19. Intangible assets
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(1) Measurement of intangible assets
The intangible assets of the Company include land use rights etc.
The cost of a purchased intangible asset shall be determined by the expenditure actually occurred
and other related costs.
The cost of an intangible asset contributed by an investor shall be determined in accordance with
the value stipulated in the investment contract or agreement, except where the value stipulated in
the contract or agreement is not fair.
The intangible assets acquired through exchange of non-monetary assets, which is commercial in
substance, is carried at the fair value of the assets exchanged out; for those not commercial in
substance, they are carried at the carrying amount of the assets exchanged out.
The intangible assets acquired through debt reorganization, are recognized at the fair value.
(2) Service life estimation for intangible assets with limited service life
Every period-end, re-checking the service life and amortization method for intangible assets with limited service
life
Item Service life expected Basis
Land use right Years for rented or remaining service life Transfer Agreement of land use right or transferring
Trademark use right 30 years Contract
Computer software 3-5 years Predicted usable service life
(3) Determination basis for intangible assets with uncertain service life
Every period-end, re-checking the service life for intangible assets with uncertain service life
(4) Withdrawal of impairment of intangible assets
The Company tests impairment of the intangible assets with indefinite benefit years such as
goodwill annually and estimates their recoverable amounts and impairment of the intangible asset is
provided at the difference between the estimated recoverable amount and the carrying amount of
such intangible assets.
A year-end review is conducted to other intangible assets. When there is an indication of
impairment, the recoverable amount is estimated and impairment of the intangible asset is provided
at the difference between the estimated recoverable amount and the carrying amount of such
intangible assets. The impairment provision is not reversed during the duration of the assets once it
is provided.
①The intangible assets have been replaced by other new technology so that there is a material
adverse effect on their capacity to generate economic benefits for the Company;
②The market value has fallen substantially in the current period and is not expected to recover in
the remaining amortization period;
③ The intangible assets have exceeded the term protected by laws but some of them can still be
used;
④Other circumstances sufficient to prove that impairment has been made actually
(5) Divide the specific standards research stage and development stage
Research stage: A stage doing original and planned study and research activities for obtaining and
understanding new scientific and technical knowledge.
Development stage: A stage applying the research achievements or other knowledge to a plan or
design so as to produce new materials, devices and products with substantial modification before
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commercial manufacture or use.
(6) Calculation of expenditure for internal R&D projects
Expenditure in the research stage of the intangible assets with independent research and
development should be included in the profit or loss for the current period in which they are
occurred; expenditure in the development stage should be recognized as intangible assets (patent
technologies and non-patent technologies) when all of the following conditions are met:
①It is technically feasible that the intangible assets are completed for the purpose of their uses or
sales;
②The Company has an intention to complete the intangible assets for their uses or the sale;
③Ways of creating economic benefits by intangible assets include proof of existing market of the
products manufactured by use of intangible assets or the existing market of intangible assets and the
proof of the use if the intangible assets are only for the Company’s internal use;
④The Company has sufficient technical and financial resources and other supporting resources to
complete the research and development of such intangible assets and are capable of using or selling
such intangible assets;
⑤Expenditure occurred in the development stage of such intangible assets can be accurately
calculated;
⑥The cycle of the product produced with the intangible assets is above one year.
20. Amortization method of long-term prepaid expenses
Long-term expenses to be amortized of the Company the expenses that are already charged and
with the beneficial term of more than one year are evenly amortized over the beneficial term. For
the long-term deferred expense items cannot benefit the subsequent accounting periods, the
amortized value of such items is all recorded in the profit or loss during recognition.
21. Assets transfer with repurchase condition attached
Nil
22. Estimated liability
An obligation related to a contingency, such as guarantees provided to outsiders, pending litigations
or arbitrations, product warranties, redundancy plans, onerous contracts, reconstructing, expected
disposal of fixed assets, etc. shall be recognized as an estimated liability when all of the following
conditions are satisfied:
(1) Recognition standards for estimated liability
①the obligation is a present obligation of the Company;
② It is Contingent that an outflow of economic benefits will be required to settle the obligation;
③the amount of the obligation can be measured reliably.
(2) Measurement method for estimated liability
Measure on the basis of the best estimates of the expenses necessary for paying off the
contingencies
On the balance sheet date, the carrying amount of estimated liabilities is reviewed. If there is
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obvious evidence that the carrying amount cannot actually reflect the current best estimates, then
the carrying amount is adjusted according to the current best estimates.
23. Shares payment and equity instrument
Nil
(1) Category of shares payment
Nil
(2) Recognition method for fair-value of equity instrument
Nil
(3) Basis of best estimation for vesting equity instrument
Nil
(4) Relevant accounting treatment for implementation, amendment and termination of shares payment
plan
Nil
24. Shares of the Company repurchased
Nil
25. Revenue
(1) Detail judgment standards for recognition of selling goods revenue
①the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
②the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
③the amount of revenue can be measured reliably;
④ It is Contingent that the associated economic benefits will flow into the Company;
(2) Recognition of revenue of assets using right abalienation
Revenue from use by others of enterprise assets shall be recognized only when the associated
economic benefit can flow into the Company, and the amount of revenue can be measured reliably.
(3) Recognition basis and method of construction progress completion while recognize revenue from labor
service providing and from construction contract by percentage of completion method
Revenue from the rendering of services shall be recognized only when all of the following
conditions are satisfied: the amount of revenue and costs occurred or to be occurred for the
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transaction involving the rendering of services can be measured reliably; the associated economic
benefits can flow into the Company; the stage of completion of the transaction can be measured
reliably.
26. Government Subsidies
(1) Category
The government subsidy is divided into government subsidy related to profits and government
subsidy related to assets.
(2) Accounting treatment
The government grants related to earnings are recognized as deferred earnings if they are used for
compensating the relevant expenses or losses of the Company in subsequent periods, and are
recorded in the profit or loss in the period of recognition of relevant expenses; if they are used to
compensate the relevant expenses or losses occurred of the Company, they are directly recorded in
the profit or loss.
Asset-related government grants are recognized as deferred income, and are allocated evenly over
the useful life of related assets and are included in the current profit and loss. However, the
government grants measured at the nominal amount is recorded directly in the profit or loss.
27. Deferred income tax assets and deferred income tax liabilities
(1) Basis of affirming the deferred income tax assets
The Company takes the taxable income possibly used for deducting the deductible temporary
differences to confirm the deferred income tax assets generated by deductible temporary differences
(2) Basis of affirming the deferred income tax liabilities
The Company affirms the currently and previously payable but unpaid taxable temporary
differences as deferred income tax liabilities, but excluding goodwill, transaction formed by
non-business merger and the temporary difference affecting neither accounting profits nor taxable
income during this transaction.
28. Operation leasing, financing leasing
(1) Accounting treatment of operation leasing
Operating lease refers to other lease other than finance lease. The rental expenses of the operating
leased assets are recognized as relevant assets costs or expenses over the lease term on a
straight-line basis.
(2) Accounting treatment of financing leasing
Finance lease refers to a lease that has transferred in substance all the risks and rewards related to
the ownership of an asset, no matter whether the ownership of it has been transferred eventually.
The finance lease assets are carried at the lower of the fair value of the leased assets and the present
value of the minimum lease payments on the lease beginning date, and the minimum lease
payments are recorded in long-term payables, with the difference as unrecognized finance expenses.
The initial direct costs arising from finance lease of the Company are recorded in the value of the
leased assets. Depreciation and impairment are provided for the finance lease assets according to
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the policies of the Company.
Where there is reasonable assurance that the ownership of the leased assets can be obtained when
the lease term expires, depreciation is provided for the leased assets over the estimated useful life.
Otherwise, depreciation is provided for the leased assets at the lower of the lease term and the
estimated useful life of the leased assets.
The Company allocates the unrecognized financing expenses over the lease term by using the
effective interest rate method and in accordance with the principles of borrowing costs.
On the balance sheet date, the Company lists the difference of the long-term payables related to
finance lease less unrecognized financing expenses as finance lease payable and non-current
liabilities due within one year respectively.
29. Assets held for sales
(1) Recognition of assets held for sales
Nil
(2) Accounting treatment of assets held for sales
Nil
30. Assets securitization
Nil
31. Hedge accounting
Nil
32. Changes of major accounting policies and accounting estimation
Whether there have changes of major accounting policies and accounting estimation in report period or not
□ Yes √ No □ Not applicable
(1) Changes in accounting policies
Whether have changes in accounting policies in report period
□ Yes √ No □ Not applicable
(2) Changes in accounting estimates
Whether have changes in accounting estimates in report period
□ Yes √ No □ Not applicable
33. Error correction of previous accounting
Whether has error correction of previous accounting occurred in this period
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□ Yes √ No □ Not applicable
(1) Retrospective Restatement
Is there has errors of previous accounting adopt retrospective restatement in this period
□ Yes √ No □ Not applicable
(2) Prospective Application
Is there has errors of previous accounting adopt retrospective restatement in this period
□ Yes √ No □ Not applicable
34. Other major accounting policy, accounting estimation and preparation method for financial statement
(1) Goodwill
In the business combination not under the same control, the difference of the merger cost in excess
of the fair value of net identifiable assets of the acquired party is recognized as the goodwill.
Goodwill listed alone in financial statement, while conducting impairment testing, amortized book
value of the goodwill to assets group or assets combination benefit from synergy effect of expected
enterprise combination. If the recoverable amount of assets group or assets combination, that with
goodwill amortized, lower its book value, than recognized as impairment losses correspondingly.
Impairment losses should deducting book value of goodwill, amortized to assets group or assets
combination, than deducting other book value of vary assets by proportion in line with ratio of book
value of vary assets other than goodwill in such assets group or assets combination.
(2) Employees’ remuneration
Employees’ remuneration includes: employees’ salaries, bonus, allowance and subsidies; welfare
provision; social insurance such as pension insurance, unemployment insurance and work injury
insurance etc.; housing reserve fund, labor union expenditures and staff education expenditures;
benefits not in monetary value; compensation paid for the termination of employment contracts
with employees; relevant expenditures relating to the provision of other services by employees.
In the accounting period in which employees provide service to the Company, payable employees’
remuneration is recognized as liabilities. Other than the compensation for termination of the labor
relationship with employees, the employees’ remuneration is recorded in fixed assets costs,
intangible assets costs, product costs or labor costs respectively according to the beneficiaries of the
services provided by employees. The employees’ remuneration other than the above is directly
recorded in the profit or loss.
Prior to the expiry of the labor contracts of employees, the compensation for termination of the
labor relationship with employees or encouraging employees to accept to be laid off is recognized
as estimated liabilities and recorded in the profit or loss.
(3) Accounting for income tax
The Company applies the balance sheet liability method for accounting of income tax. Current
income tax and deferred income tax is recorded in the profit or loss as income tax expenses or gains,
but the income tax arising from the following conditions is excluded:
1) Business combination;
2) The transaction events directly recognized in the owner’s equity.
(V) Taxation
1. Major taxes and tax rates
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Tax Basis Tax rate
Tax rate for sale of goods is 17%; rate for exported commodities is
VAT Sale of goods stipulated by the state with declaration of export tax rebate, rate of
tax may be “exempted, credited and refunded”
Consumption tax
Operation tax Revenue from lease 5%
City maintaining & construction tax Turnover tax payable 7%
Corporation income tax Taxable income 15% for the parent company
The income tax rates applicable to each Branch Company or plant
The Company and its subsidiaries Weifu Jinning, Weifu Diesel System, Weifu Leader and Ningbo Weifu Tianli Pressurized
Technology Co., Ltd. (Weifu Tianli for short) are all high-tech enterprises, and enjoy a preferential tax rate of 15% according to
relevant state regulations on income taxation.
The income tax of Wuxi Weifu Mashan Oil Pump and Oil Nozzle Co., Ltd. (hereinafter referred to as “Weifu Mashan”), Wuxi Weifu
Chang’an Fuel Co., Ltd. (hereinafter referred to as “Weifu Chang’an), Wuxi Weifu International Trade Co., Ltd. (hereinafter referred
to as “Weifu International Trade”), Jiangsu Weifu Nano Technology Co., Ltd. (hereinafter referred to as “Weifu Nano”), Wuxi
Weifu ITM Booster Technology Co., Ltd.(former Wuxi Weifu ITM Information Machinery Development Co., Ltd. ; hereinafter
referred to as “Weifu ITM”), Wuxi Weifu Schmitter Power System Parts and Components Co., Ltd. (hereinafter referred to as “Weifu
Schmitter”), Chaoyang Weifu Jialin Machinery Manufactures Co., Ltd. (hereinafter referred to as “Weifu Jialin”), Kunming Xitong
Machinery Co., Ltd. (hereinafter referred to as “Kunming Xitong”) and Anhui Weifu Tianshi Machinery Co., Ltd. (hereinafter
referred to as “Weifu Tianshi”) is 25%.
2. Tax preference and approvals
No. Enterprise Certification Serials of Issuring or (receiving) dated Expiration
Hi-Tech Enterprise
1 Parent company GF201132000279 2011-9-9 3-year
2 Nanjing Jinning GF201132000048 2011-9-9 3-year
3 Weifu Diesel System GF201132000112 2011-9-9 3-year
4 Weifu Lida GF201132000006 2011-9-9 3-year
5 Weifu Tianli GF201133100022 2011-9-6 3-year
3. Other explanation
Nil
(VI) Enterprise consolidation and consolidated financial statements
General explanation for enterprise consolidation and consolidated financial statement:
1. Subsidiary
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
(1) Subsidiaries acquired by means of establishment or investment
Unit: RMB
The balance after the
Amount parent company’s
in owner’s equity writing
Statem minority down the excess of the
Balance of
Investmen Holdin Voting ents interest current loss undertaken
Registra other items Minority
Business Registered Currenc t amount g right combi used for by minority
Name Type tion Business scope materially interest
nature capital y actual at proport proportio ned or writing shareholders of the
place forming net
period-end ion (%) n (%) not down subsidiary over the
investment
minority share enjoyed by
to subsidiary
gain and minority shareholders
loss in the original owner’s
equity of the subsidiary
Weifu Accessories and
Mashan Fuel Wholly-owned Manufac matching parts of 8,693,380.
Wuxi 45,000,000.00 CNY 100% 100% Yes
Injection subsidiary turing internal combustion 51
Co., Ltd. engine
Accessories and
Weifu
Wholly-owned Manufac matching parts of 70,902,03
Chang’an Wuxi 60,000,000.00 CNY 100% 100% Yes
subsidiary turing internal combustion 7.30
Co., Ltd.
engine
Jiangsu
Weifu Nano Controlling Manufac 24,000,00 5,804,26
Wuxi 30,000,000.00 CNY Nano material 80% 80% Yes
Technology subsidiary turing 0.00 6.83
Co., Ltd.
Weifu Auto Accessories and
Diesel Wholly-owned Manufac 300,000,000.0 matching parts of 260,187,5
Wuxi CNY 100% 100% Yes
System Co., subsidiary turing 0 internal combustion 00.00
Ltd. engine
Weifu
Accessories and
Schmitter
Controlling Manufac matching parts of 8,100,000. 5,545,44
Power Wuxi 18,000,000.00 CNY 45% 45% Yes
subsidiary turing internal combustion 00 1.91
System Part
engine
Co., ltd
Anhui Weifu Accessories and
Tianshi Controlling Quanjia Manufac matching parts of 5,200,000. 4,345,30
10,000,000.00 CNY 52% 52% Yes
Machinery subsidiary o turing internal combustion 00 1.48
Co., Ltd engine
Other explanation on subsidiary obtained by establishment or investment:
Nil
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
(2) Subsidiaries acquired by business combination under the common control
Unit: RMB
Balance
between the
owners’
equity in
parent
Balance offsetting the
Amount current losses
of other
in attributable to
items
minority minority
which Consoli
Actual interest sharehoders
actually Holding Voting dated
Name of Type of Register Business Registered Curre Business investment Minority available of
constitut proportion proportion stateme
subsidiary subsidiary ed place nature capital ncy scope amount at interests to offset subsidiaries
es net % % nt
period-end minority over the share
investm Yes/No
gains of beginning
ent in
and owner’s
subsidia
losses equity in such
ries
subsidiaries
by the
minority
shareholders
Accessories
Nanjing and matching
Controllin
Weifu parts of
g Nanjing Manufacturing 346,286,825.80 CNY 178,639,593.52 80% 80% Yes 130,961,949.37
Jinning Co., internal
subsidiary
Ltd combustion
engine
Weifu Lida
Controllin
Catalytic Cleaner,
g Wuxi Manufacturing 260,000,000.00 CNY 230,113,855.00 94.81% 94.81% Yes 28,026,699.55
Converter muffler
subsidiary
Co., Ltd.
Weifu
Controllin
International International
g Wuxi Trading 30,000,000.00 CNY 30,999,996.22 100% 100% Yes
Trade Co., trade
subsidiary
Ltd.
Other explanation on subsidiary obtained by enterprise merger under same control:
Nil
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
(3) Subsidiaries acquired by business combination not under the common control
Unit: RMB
Balance between
the owners’
equity in parent
offsetting the
current losses
Amount in attributable to
Balance of other minority minority
Actual items which Consolidat interest sharehoders of
Holding
Name of Type of Registered investment actually Voting ed Minority available subsidiaries over
Business nature Registered capital Currency Business scope proportion
subsidiary subsidiary place amount at constitutes net proportion% statement interests to offset the share of
%
period-end investment in Yes/No minority beginning
subsidiaries gains and owner’s equity
losses in such
subsidiaries by
the minority
shareholders
Weifu ITM
Accessories and
Pressure Wholly-owned
Wuxi Manufacturing 160,000,000.00 CNY matching parts of internal 167,000,000.00 100% 100% Yes
Technology subsidiary
combustion engine
Co., Ltd
Ningbo Weifu
Accessories and
Tianli Pressure Controlling
Ningbo Manufacturing 104,690,000.00 CNY matching parts of internal 90,229,100.00 51% 51% Yes 95,169,053.20
Technology subsidiary
combustion engine
Co., Ltd
Chaoyang
Weifu Jialin Accessories and
Controlling
Machinery Chaoyang Manufacturing 8,000,000.00 CNY matching parts of internal 4,685,868.73 51% 51% Yes 5,283,029.09
subsidiary
Manufacture combustion engine
Co., Ltd.
Kunming
Accessories and
Xitong Controlling
Kunming Manufacturing 4,000,000.00 CNY matching parts of internal 5,471,793.17 70% 70% Yes 3,206,682.15
Machinery subsidiary
combustion engine
Co., Ltd.
Other explanation on subsidiary obtained by enterprise merger not under the same control:
Nil
85
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
2. Special purposes entity or operation entity where controlling right is formed under entrusted
operation or leasing
□ Applicable √ Non-applicable
Other explanation for special purposes entity or operation entity where controlling right is formed under
entrusted operation or leasing:
3. Explanation for changes in consolidation scope
Explanation for changes in consolidation scope:
NameoftheCompany Whetheritisconsolidated in this yearor not Whetheritwasconsolidatedin lastyearornot
Weifu Mashan Yes Yes
Weifu Chang’an Yes Yes
Weifu Nano Yes Yes
Weifu Diesel System Yes Yes
Weifu Jinning Yes Yes
Weifu Lida Yes Yes
Weifu International Trade Yes Yes
Weifu Schmitter Yes Yes
Weifu ITM Yes Yes
Weifu Tianli Yes Yes
Weifu Jialin Yes Yes
Weifu Tianshi Yes Yes
Kunming Xitong Yes Yes
Weifu Jida No Yes
Weifu Jida, short for Weifu Jida New Material Application Development Co., Ltd, was cancelled in September
2011, the profit statement and cash flow statement from period-begin of last period to conciliation date was
consolidated into consolidation financial statement range
√ Applicable □ Not applicable
Comparing with last year, units increased in this year (period), reasons are:
Comparing with last year, one unit decreased in this year (period), reasons are:
Weifu Jida, short for Weifu Jida New Material Application Development Co., Ltd, was cancelled in September
2011, the profit statement and cash flow statement from period-begin of last period to conciliation date was
consolidated into consolidation financial statement range
4. Entities newly included in consolidate scope during the reporting period and entities ceasing to be
included in consolidate scope during the reporting period
Weifu Jida, short for Weifu Jida New Material Application Development Co., Ltd, was cancelled in September
2011, reckoned into no consolidation range in reporting period.
Subsidiaries, special purposes entities, operation entity where controlling right is formed under entrusted
operation or leasing newly included in consolidation scope during the period
Unit: RMB
Name Net assets as at period-end Net profit for the period
Subsidiaries, special purposes entities, operation entity where controlling right is formed under entrusted
operation or leasing ceasing to be included in consolidation scope during the period
Unit: RMB
Net profit from the year-begin to
Name Net assets as at the disposal date
the disposal date
Other explanation on entities newly included in consolidation scope and entities ceasing to be included in
consolidation scope:
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
5. Business combination under the common control during the reporting period
Unit: RMB
Basis for Consolidated Consolidated
Consolidated net
determination of Actual controller income for the operating activities
profit from this
Party to be consolidated business under the common period from the cash flow from this
period to
combination under control period-begin to period to
consolidation date
the common control consolidation date consolidation date
Other explanation for business combination under the common control:
6. Business combination not under the common control during the reporting period
Unit: RMB
Party to be consolidated Amount of goodwill Calculation method for goodwill
Other explanation for business combination not under the common control:
7. Loss of subsidiaries due to disposal of equity interests without controlling rights during the
reporting period
Subsidiary Disposal date Recognition method for gains and losses
Other explanation for loss of subsidiaries due to disposal of equity interests without controlling rights
8. Counter purchase occurred during the reporting period
Calculation method for
goodwill recognized in
Basis for determination of Determination method for consolidation or recorded in
Backdoor
counter purchase consolidated costs current gains and losses
Other explanation for counter purchase:
9. Absorption consolidation occurred during the reporting period
Unit: RMB
Types of absorption consolidation Major assets consolidated Major liabilities consolidated
Absorption consolidation under common control Item Amount Item Amount
Absorption consolidation not under common
Item Amount Item Amount
control
Other explanation for absorption consolidation:
10. Translation exchange rates for items in major statements of overseas operating entities
Nil
(VII) Notes to major items in consolidated financial statements
1. Monetary capital
Unit: RMB
Amount at period-end Amount at period-beginning
Item Amount in foreign Convert Amount in Converting
Amount in RMB Amount in RMB
currency ing rate foreign currency rate
Cash: -- -- 584,048.80 -- -- 425,963.50
RMB -- -- 584,048.80 -- -- 425,963.50
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Bank deposit: -- -- 2,942,868,702.46 -- -- 745,352,800.72
RMB -- -- 2,942,352,581.56 -- -- 740,740,138.08
EUR 61,184.26 7.871 481,581.31 560,896.20 8.1625 4,578,315.24
USD 5,460.89 6.3249 34,539.59 5,451.19 6.3009 34,347.40
Other currency capitals: -- -- 93,495,339.89 -- -- 109,274,835.16
RMB -- -- 93,495,339.89 -- -- 109,274,835.16
Total -- -- 3,036,948,091.15 -- -- 855,053,599.38
Separate explanation is required for accounts with restricted application purposes, deposited overseas and of
potential recovery risks arising from pledge, mortgage or frozen:
Item 2012-06-30 2011-12-31
Bank acceptance bill, L/C and other collateral 93,495,339.89 109,274,835.16
2. Transactional financial assets
(1) Transactional financial assets
Unit: RMB
Item Fair value as at period-end Fair value as at period-begin
Transactional debt investments
Transactional equity instrument investments
Financial assets designated at fair value through profit and losses
Derivative financial assets
Hedge instruments
Others
Total
(2) Realization of restricted transactional financial assets
Unit: RMB
Other significant restrictions on restriction
Item Amount as at period-end
conditions for sale or realization
(3) Explanation for hedge instruments and related hedge transactions
3. Notes receivables
(1) Classification of notes receivables
Unit: RMB
Types Amount at period-end Amount at period-begin
Commercial acceptance bill 62,190,000.00 48,430,000.00
Bank acceptance bill 1,273,959,142.95 1,178,588,757.27
Total 1,336,149,142.95 1,227,018,757.27
(2) Notes receivable already pledged by the Company at the end of the period
Unit: RMB
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Issuer Issue date Expiring date Amount Notes
Dongfeng Cummins Engine Co., Ltd. 2012-02-24 2012-08-24 17,000,000.00
Dongfeng Cummins Engine Co., Ltd. 2012-03-27 2012-09-27 13,000,000.00
Dongfeng Cummins Engine Co., Ltd. 2012-04-24 2012-10-24 10,000,000.00
Dongfeng Automobile Co., Ltd. 2012-02-15 2012-08-15 10,000,000.00
Weichai Power Co., Ltd 2012-01-16 2012-07-16 10,000,000.00
Total -- -- 60,000,000.00 --
Note:
The bank acceptance bill 111,993,338.06 in note receivable at period-end was pledge for note payable issued.
(3)Transfer of notes to notes receivable due to the issuer’s impossibility to perform its obligations, and
un-matured notes endorsed to others by the Company as at the period-end
Unit: RMB
Issuer Issue date Expiring date Amount Notes
Mianyang XCE Co., Ltd. 2012-03-26 2012-09-26 10,000,000.00
Tenneco Tongtai (Dalian) Exhaust System Co., Ltd. 2012-02-20 2012-08-20 9,690,010.91
Anhui Jianghui Automobile Co., Ltd 2012-05-15 2012-11-15 9,000,000.00
Geely Group 2012-03-09 2012-09-09 8,000,000.00
Dongfeng Automobile Co., Ltd. 2012-01-11 2012-07-11 7,805,000.00
Total -- -- 44,495,010.91 --
Explanation:
Nil
Un-matured notes endorsed to others by the Company
Unit: RMB
Issuer Issue date Expiring date Amount Notes
Mianyang XCE Co., Ltd. 2012-03-26 2012-09-26 10,000,000.00
Tenneco Tongtai (Dalian) Exhaust System Co., Ltd. 2012-02-20 2012-08-20 9,690,010.91
Anhui Jianghui Automobile Co., Ltd 2012-05-15 2012-11-15 9,000,000.00
Geely Group 2012-03-09 2012-09-09 8,000,000.00
Dongfeng Automobile Co., Ltd. 2012-01-11 2012-07-11 7,805,000.00
Total -- -- 44,495,010.91 --
Explanation:
Nil
Explanation for commercial acceptance notes discounted or pledged:
Nil
4. Dividend receivables
Unit: RMB
Amount at Increase in this Decrease in this Amount at
Items
period-begin period period period-end
Dividend receivables aging within 1 year 0.00 740,000.00 0.00 740,000.00
Including:
Cash dividend of SDEC 740,000.00 740,000.00
Dividend receivables aging over 1 year 0.00 0.00 0.00 0.00
Including: -- -- -- --
Total 0.00 740,000.00 0.00 740,000.00
Explanation:
Nil
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
5. Interests receivables
(1) Interests receivables
Unit: RMB
Items Amount at period-begin Increase in this period Decrease in this period Amount at period-end
Total
(2)Overdue interests
Unit: RMB
Loan provider Times overdue (days) Overdue interests
Total --
(3)Explanation for interests’ receivables
6. Account receivables
(1) Classified by categories
Unit: RMB
Amount at period-end Amount at period-begin
Book balance Bad debt reserve Book balance Bad debt reserve
Categories
Proportion Proportion Proportion Proportion
Amount Amount Amount Amount
(%) (%) (%) (%)
Account receivable
with single significant
amount and 6,919,976.11 0.64% 6,919,976.11 100% 6,919,976.11 0.58% 6,919,976.11 100%
withdrawal bad debt
provision separately
Account receivable of bad debt provision withdrawal by combination
At book aging 1,060,427,717.35 98.54% 7,989,630.18 0.75% 1,172,628,088.90 98.63% 5,504,933.86 0.47%
Subtotal of group 1,060,427,717.35 98.54% 7,989,630.18 0.75% 1,172,628,088.90 98.63% 5,504,933.86 0.47%
Account receivable
with single minor
amount but 8,798,115.06 0.82% 8,798,115.06 100% 9,402,820.72 0.79% 9,402,820.72 100%
withdrawal bad debt
provision singelly
Total 1,076,145,808.52 -- 23,707,721.35 -- 1,188,950,885.73 -- 21,827,730.69 --
Explanation for category of account receivables:
Other accounts receivable with amount in single item above RMB 1 million indicated other accounts receivable with significant amount
in single item from which provision for bad debt was still drawn based on account age analysis method, as no objective evidence showed
that the potential depreciation would exceed provision for bad debt drawn by age analysis.
√ Applicable □ Not applicable
Unit: RMB
Accrual
Bad debt
Content of account receivable Book balance proportion Reasons
amount
(%)
Liuzhou Special Diesel Plant 1,612,018.00 1,612,018.00 100% The account was too old to collect
Shaoyang Shenfeng Power Manufacture Co., ltd 1,589,871.23 1,589,871.23 100% The account was too old to collect
Changchai Wanzhou Diesel Co., ltd 1,500,000.00 1,500,000.00 100% The account was too old to collect
90
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Yuejin Light-Vehicle Co., Ltd. 1,218,086.88 1,218,086.88 100% The account was too old to collect
Henan Agricultural Machinery Co 1,000,000.00 1,000,000.00 100% The account was too old to collect
Total 6,919,976.11 6,919,976.11 --
Account receivable provided for bad debt reserve under aging analysis method in the groups:
√ Applicable □ Non-applicable
Unit: RMB
Amount at period-end Amount at period-begin
Book balance Book balance
Aging
Proportion bad debt reserve Proportion bad debt reserve
Amount Amount
(%) (%)
within 1 year
Including: -- -- -- -- -- --
Within 6 months 1,012,923,991.86 95.53% 1,141,043,177.04 97.31%
6 months to 1 year 35,942,589.45 3.39% 3,594,258.93 22,677,232.78 1.93% 2,267,723.28
Subtotal of within 1 year 1,048,866,581.31 98.92% 3,594,258.93 1,163,720,409.82 99.24% 2,267,723.28
1-2 years 6,944,213.11 0.65% 1,388,842.63 4,756,969.14 0.41% 951,393.83
2-3 years 2,683,990.52 0.25% 1,073,596.21 3,108,155.32 0.26% 1,243,262.13
Over 3 years 1,932,932.41 0.18% 1,932,932.41 1,042,554.62 0.09% 1,042,554.62
3-4 years
4-5 years
Over 5 years
Total 1,060,427,717.35 -- 7,989,630.18 1,172,628,088.90 -- 5,504,933.86
Account receivables provided for bad debt reserve under balance percentage method in the groups:
□ Applicable√ Non-applicable
Account receivables provided for bad debt reserve under other method in the groups:
□ Applicable√ Non-applicable
Account receivable with single minor amount but withdrawal bad debt provision separately as at period-end
√ Applicable □ Non-applicable
Unit: RMB
Book Bad debt Provision
Contents of account receivables Reason for provision
balance provision proportion
Changchai Wanzhou Diesel Co., ltd 837,472.95 837,472.95 100% The account was too old to collect
Hubei Duoling Power Machinery Co., Ltd 775,624.61 775,624.61 100% The account was too old to collect
Henan Xinxiang Internal Combustion Engine Plan 753,754.25 753,754.25 100% The account was too old to collect
Yunnan Jinma Diesel General Plan 579,210.11 579,210.11 100% The account was too old to collect
Dongfeng Nanchong Automobile Co., Ltd 569,974.38 569,974.38 100% The account was too old to collect
Guangxi Liuzhou Zhongxin Engine Co., Ltd 474,895.94 474,895.94 100% The account was too old to collect
Zhejiang Agriculture Machinery Accessory Co.,
457,800.00 457,800.00 100% The account was too old to collect
Ltd
Weichai Power Co., Ltd 449,858.70 449,858.70 100% The account was too old to collect
Jiangmen Zhongyu Material Supplying Co., Ltd 411,734.00 411,734.00 100% The account was too old to collect
Changchai Group Jintan Diesel General Plant 375,035.52 375,035.52 100% The account was too old to collect
Fujian Longma Agriculture-Vehicle Manufacture
365,169.92 365,169.92 100% The account was too old to collect
Co., Ltd
Kunming Zhongantong Jimao Co., Ltd 328,425.01 328,425.01 100% The account was too old to collect
Beijing Pingyang Road Communication Equipment
308,588.58 308,588.58 100% The account was too old to collect
Co., Ltd
Other clients 2,110,571.09 2,110,571.09 100% The account was too old to collect
Total 8,798,115.06 8,798,115.06 100% --
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
(2) Reversal or recovery of account receivables during the reporting period
Unit: RMB
Basis for determination Accumulated provision of
Contents of account Reason for reversal Amounts reversed or
of original bad debt bad debt reserve before
receivables of recovery recovered
reserve reversal or recovery
Total -- -- 0.00 --
Provision for bad debt reserve for account receivable with single significant or minor amount but tested for impairment separately as
at period-end:
Provision
Contents of account receivables Book balance Bad debt amount proportion Reasons
(%)
Significant single amount and
6,919,976.11 6,919,976.11 100% The account was too old to collect
withdrawal bad debt provision single
Minor single amount but withdrawal
8,798,115.06 8,798,115.06 100% The account was too old to collect
bad debt provision single
Total 15,718,091.17 15,718,091.17 -- --
Explanation for account receivable with single minor amount while the risks of the group categorized with similar risk characteristics
are relative significant:
Account receivable with minor single amount but has major risk after combination with credit risk characteristic, has long account
age for hard to collected
(3) Account receivables actually written-off during the reporting period
Unit: RMB
Nature of account Time of Amount Whether arising from
Name of unit Reason for write-off
receivables write-off written off related transactions
The account was too old
Jiangsu Rubu Diesel Plant Amount for goods 2012-03-29 121,710.70 No
to collect
Chengdu Yunnei Power Co., The account was too old
Amount for goods 2012-06-30 7,750.00 No
Ltd. to collect
Total -- -- 129,460.70 -- --
Explanation for write-off of account receivables:
Nil
(4) Account receivables due from the shareholders holding 5% or above voting shares of the Company
during the reporting period
√ Applicable □ Not applicable
Unit: RMB
Amount at period-end Amount at period-begin
Name of the company Bad debt Bad debt
Book balance Book balance
provision accrual provision accrual
ROBERT BOSCH GMBH(German Bosch) 4,774,244.40 0.00 0.00 0.00
Bosch Automobile Diesel System Co., Ltd 38,956,876.52 0.00 38,105,143.26 0.00
Total 43,731,120.92 0.00 38,105,143.26 0.00
(5) Top 5 account receivable
Unit: RMB
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Relationship with the Proportion in total
Name of the company Amount Terms
Company account receivables (%)
Client 1 Client 92,122,748.03 Within 1 year 8.57%
Client 2 Client 90,609,271.40 Within 1 year 8.42%
Client 3 Client 82,352,177.77 Within 1 year 7.65%
Client 4 Client 78,997,320.87 Within 1 year 7.34%
Client 5 Client 77,088,693.35 Within 1 year 7.16%
Total -- 421,170,211.42 -- 39.14%
(6) Account receivables due from related parties
Unit: RMB
Proportion in total
Name of the company Relationship with the Company Amount account receivables
(%)
ROBERT BOSCH GMBH(German Bosch) Second largest shareholder of the Company 4,774,244.40 0.44%
Affiliated company, Controlling subsidiary
Bosch Automobile Diesel System Co., Ltd 38,956,876.52 3.63%
of ROBERT BOSCH GMBH(German Bosch)
Weifu Autocam Precision Machinery Corp. Joint venture 374,563.26 0.03%
Weifu Environment Catalysts Co., Ltd Joint venture 3,976,569.38 0.37%
Total -- 48,082,253.56 4.47%
(7) Account receivables derecognized
Unit: RMB
Item De-recognition amount Gains or losses related to derecognizing
Total 0.00 0.00
(8) As for securities with account receivables as target subject, list the assets and liabilities arising from
further involvement
Unit: RMB
Item Period-end
Assets:
Assets subtotal 0
Liabilities:
Liabilities subtotal 0.00
7. Other receivables
(1) Disclosure of other receivables by classification
Unit: RMB
Amount at period-end Amount at period-begin
Book balance Bad debt reserve Book balance Bad debt reserve
Categories
Proportion Proportio Proportion Proportio
Amount Amount Amount Amount
(%) n (%) (%) n (%)
93
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Other receivable with
single significant
amount and 2,000,000.00 12.89% 2,000,000.00 100% 2,000,000.00 12.08% 2,000,000.00 100%
withdrawal bad debt
provision separately
Other receivable of bad debt provision withdrawal by combination
By age 11,118,612.93 71.64% 142,815.21 12.84% 12,152,541.53 73.42% 169,130.65 1.39%
Subtotal of group 11,118,612.93 71.64% 142,815.21 12.84% 12,152,541.53 73.42% 169,130.65 1.39%
Other receivable with
single minor amount
while withdrawal bad 2,400,000.00 15.47% 2,400,000.00 100% 2,400,000.00 14.5% 2,400,000.00 100%
debt provision
separately
Total 15,518,612.93 -- 4,542,815.21 -- 16,552,541.53 -- 4,569,130.65 --
Explanation for category of other receivables:
Other accounts receivable with amount in single item above RMB 1 million indicated other accounts receivable with significant amount
in single item from which provision for bad debt was still drawn based on account age analysis method, as no objective evidence showed
that the potential depreciation would exceed provision for bad debt drawn by age analysis.
Other receivable with single significant amount and withdrawal bad debt provision separately
√ Applicable □ Non-applicable
Unit: RMB
Bad debt
Contents of other receivables Book balance Provision proportion Reason for provision
provision
Jiangsu Techniques and
2,000,000.00 2,000,000.00 100% The account was too old to collect
Technology Center
Total 2,000,000.00 2,000,000.00 -- --
Other receivable provided for bad debt reserve under aging analysis method in the groups:
√ Applicable □ Non-applicable
Unit: RMB
Amount at period-end Amount at period-begin
Book balance Book balance
Aging
Proporti bad debt reserve Proporti bad debt reserve
Amount Amount
on (%) on (%)
within 1 year
Including:
Within 6 months 10,551,566.73 94.9% 11,420,349.73 93.97%
6 months to 1 year 261,284.29 2.35% 26,128.43 271,263.60 2.23% 27,126.36
Subtotal of within 1 year 10,812,851.02 97.25% 26,128.43 11,691,613.33 96.2% 27,126.36
1-2 years 220,084.88 1.98% 44,016.98 392,729.88 3.23% 78,545.97
2-3 years 21,678.71 0.19% 8,671.48 7,900.00 0.07% 3,160.00
Over 3 years 63,998.32 0.58% 63,998.32 60,298.32 0.5% 60,298.32
3-4 years
4-5 years
Over 5 years
Total 11,118,612.93 -- 142,815.21 12,152,541.53 -- 169,130.65
Other receivables provided for bad debt reserve under balance percentage method in the groups:
□ Applicable √ Non-applicable
Other receivables provided for bad debt reserve under other method in the groups:
□ Applicable √ Non-applicable
Other receivable with single minor amount but withdrawal bad debt provision separately as at period-end
√ Applicable □ Non-applicable
Unit: RMB
94
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Bad debt Provision
Contents of other receivables Book balance Reason for provision
provision proportion
Nanjing University 600,000.00 600,000.00 100% The account was too old to collect
Southeast University 600,000.00 600,000.00 100% The account was too old to collect
Nanjing University of Science and Technology 600,000.00 600,000.00 100% The account was too old to collect
Nanjing University of Technology 600,000.00 600,000.00 100% The account was too old to collect
Total 2,400,000.00 2,400,000.00 100% --
(2) Reversal or recovery of other receivables during the reporting period
Unit: RMB
Basis for determination Accumulated provision of
Contents of other Reason for reversal Amounts reversed or
of original bad debt bad debt reserve before
receivables of recovery recovered
reserve reversal or recovery
Total -- -- 0.00 --
Provision for bad debt reserve for other receivable with single significant or minor amount but tested for impairment separately as at
period-end:
Provision
Contents of account receivables Book balance Bad debt amount Reasons
proportion (%)
Significant single amount and withdrawal The account was too old
2,000,000.00 2,000,000.00 100%
bad debt provision single to collect
Minor single amount but withdrawal bad The account was too old
2,400,000.00 2,400,000.00 100%
debt provision single to collect
Total 4,400,000.00 4,400,000.00 -- --
Explanation for other receivable with single minor amount while the risks of the group categorized with similar risk characteristics
are relative significant:
Other account receivable with minor single amount but has major risk after combination with credit risk characteristic, has long
account age for hard to collected
(3) Other receivables actually written-off during the reporting period
Unit: RMB
Nature of other Reason for Whether arising from
Name of unit Time of write-off Amount written off
receivables write-off related transactions
Total -- -- 0.00 -- --
Explanation for write-off of other receivables:
(4) Other receivables due from the shareholders holding 5% or above voting shares of the Company during
the reporting period
□ Applicable √ Not applicable
(5) Nature or content of other receivables with significant amount
Unit: RMB
Nature or content of Proportion in total other receivables
Name of the company Amount
account (%)
Jiangsu Techniques and Technology Center 2,000,000.00 12.87%
Total 2,000,000.00 -- 12.87%
Explanation:
95
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Nil
(6) Top 5 other receivable
Unit: RMB
Relationship with the Proportion in total other
Name of the company Amount Terms
Company account receivables (%)
Jiangsu Techniques and Technology Center Non-related party 2,000,000.00 Over 3 years 12.87%
Nanjing University Non-related party 600,000.00 Over 3 years 3.87%
Southeast University Non-related party 600,000.00 Over 3 years 3.87%
Nanjing University of Science and
Non-related party 600,000.00 Over 3 years 3.87%
Technology
Nanjing University of Technology Non-related party 600,000.00 Over 3 years 3.87%
Total -- 4,400,000.00 -- 28.35%
(7) Other receivables due from related parties
Unit: RMB
Proportion in total other
Name of the company Relationship with the Company Amount
receivables (%)
Total -- 0.00
(8) Other receivables derecognized
Unit: RMB
Item De-recognition amount Gains or losses related to de-recognition
Total 0.00
(9) As for securities with other receivables as target subject, list the assets and liabilities arising from
further involvement
Unit: RMB
Item Period-end
Assets:
Assets subtotal 0
Liabilities:
Liabilities subtotal
8. Payment in advance
(1) Analysis of payments in advance by aging
Unit: RMB
Amount at period-end Amount at period-begin
Aging
Amount Proportion (%) Amount Proportion (%)
within 1 year 98,911,449.39 87.12% 171,369,448.54 93.44%
96
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
1-2 years 13,345,672.02 11.75% 10,928,451.50 5.96%
2-3 years 1,013,980.76 0.89% 734,482.92 0.4%
Over 3 years 269,949.25 0.24% 375,476.08 0.2%
Total 113,541,051.42 -- 183,407,859.04 --
Explanation for aging analysis of payments in advance:
Nil
(2) Top 5 of payments in advance
Unit: RMB
Relationship with the
Name of the company Amount Time Reason for unsettlement
Company
Amount of projects paid
Jiangsu Zhengfangyuan Construction Group Non-related party 7,288,900.00 2012-06-18
in advance
SUNLAY (HONG KONG) DEVELOPMENT Amount of goods paid in
Non-related party 4,714,074.92 2012-06-08
TRADING LIMITED advance
Jiangsu Huihong International Group Native Amount of equipment
Non-related party 4,400,241.24 2011-12-05
Products Imp &Exp Co., Ltd paid in advance
Amount of goods paid in
SASOL GERMANY GMBH Non-related party 3,980,328.59 2012-06-14
advance
Nantong Construction Group Joint-Stock Co., Amount of projects paid
Non-related party 3,562,362.00 2012-01-20
Ltd. in advance
Total -- 23,945,906.75 -- --
Explanation for major units paid in advance:
Nil
(3) Shareholders holding 5% or above voting shares of the Company in payments in advance during the
reporting period
√Applicable □ Non-applicable
Unit: RMB
Amount at period-end Amount at period-begin
Name of the company Bad debt provision Bad debt provision
Book balance Book balance
accrual accrual
ROBERT BOSCH GMBH (German Bosch) 67,840.00 0.00 0.00 0.00
Total 67,840.00 0.00 0.00 0.00
(4) Explanation for payment in advance
Nil
9. Inventory
(1) Classification
Unit: RMB
Amount at period-end Amount at period-begin
Item Depreciation Depreciation
Book balance Book value Book balance Book value
provision provision
Raw materials 181,755,319.28 44,057,286.29 137,698,032.99 194,619,066.60 44,694,662.30 149,924,404.30
Product in process 185,544,924.83 4,220,541.89 181,324,382.94 154,676,188.96 4,220,541.89 150,455,647.07
97
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Stock products 547,910,112.27 55,528,087.38 492,382,024.89 638,730,126.78 55,528,087.37 583,202,039.41
Revolving materials
Consumptive
biological assets
Total 915,210,356.38 103,805,915.56 811,404,440.82 988,025,382.34 104,443,291.56 883,582,090.78
(2) Inventory impairment provision
Unit: RMB
Book-balance as at Provision for this Decrease during this year Book-balance as at
Kinds of inventories
period-begin period Reversal Written-off period-end
Raw materials 44,694,662.30 71,492.00 708,868.00 44,057,286.29
Product in process 4,220,541.89 4,220,541.89
Stock products 55,528,087.37 55,528,087.38
Revolving materials
Consumptive
biological assets
Total 104,443,291.56 71,492.00 0.00 708,868.00 103,805,915.56
(3) Particular about inventory impairment provision
Reason for Proportion of the reversal amount
Item Provision basis reversal during during the year in the period-end
the year balance of the inventory
Compared cost of inventory at period-end with its net
realizable value by single item comparison method and
withdrew provision for price drop according to the Charge-off
balance between the net realizable value and cost. As mainly due to
Raw materials 0.39%
the country improved standard for vehicle exhaust the sales for
emission, the Company had correspondingly withdrawn external
provision for devaluation for products and relevant raw
materials failing to meet new standard.
Stock commodities
Goods in process
Turn-over material
Consumption
biological assets
Explanation on inventory
Nil
10. Other current assets
Unit: RMB
Item Amount at period-end Amount at period-begin
Receivable export tax rebates 9,803,860.80 10,199,548.21
Others 35,477.00
Total 9,803,860.80 10,235,025.21
Explanation on other current assets
Nil
11. Financial assets available for sale
(1) Particular about financial assets available for sale
Unit: RMB
98
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Item Fair-value at period-end Fair-value at period-begin
Bond available for sale
Equity instrument available for sale 290,080,000.00 0.00
Other
Total 290,080,000.00 0.00
For financial assets available for sale that re-category from investment held to maturity, re-category amounting as 0 yuan, and takes
0% of the investment held to maturity before re-category.
Explanation on financial assets available for sale
Nil
(2) Long-term debt investment in financial assets available for sales
Unit: RMB
Interest
Initial
Balance at receivable or Balance at
Bond Type Book value investment Expired dated Interest
period-begin received period-end
cost
accumulative
Total -- -- 0.00 -- 0.00 0.00 0.00 0.00
Explanation on long-term debt investment in financial assets available for sales
12. Held-to-maturity investment
(1) Particular about held-to-maturity investment
Unit: RMB
Item Book balance at period-end Book balance at period-begin
Total 0.00 0.00
Explanation on held-to-maturity investment
(2) Held-to-maturity investment that sold in report period but not expired
Unit: RMB
Item Amount Proportion in amount before sold (%)
Total 0.00 --
Explanation on held-to-maturity investment that sold in report period but not expired
13. Long-term account receivable
Unit: RMB
Type Amount at period-end Amount at period-begin
Financing leasing
Incl: Un-realized financing income
Commodity sales for installment receivables
Labor service provided for installment receivables
Other
Total 0.00 0.00
99
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
14. Investment for affiliated enterprise and joint ventures
Unit: RMB
Propor
Equit
tion of
y
voting
propo
rights Total
Regis Busine rtion Total Total Total net Net profit
Invested Legal Register Curre in operation
Type ter ss held assets at liability at assets at in this
company rep. capital ncy invest revenue in
place nature by the period-end period-end period-end period
ed this period
Comp
compa
any
ny
(%)
(%)
I. Joint venture
Limited
Weifu Liability
Autom
Autocam Compan Gao
otive 10,000,00 166,654,44 28,569,254 138,085,19 77,768,958 11,734,81
Precision y Wuxi Guoy USD 50% 50%
spare 0.00 4.69 .26 0.43 .52 4.32
Machine (joint-ve uan
parts
ry Corp. ntur
e)
Weifu Limited
Environ liability Ou
Catalys 50,000,00 CN 890,704,11 449,154,91 441,549,19 539,713,13 49,166,05
ment company Wuxi Jianbi 49% 49%
t 0.00 Y 1.61 6.04 5.57 0.04 8.97
Catalysts (joint-ve n
Co., Ltd nture)
II. Associated company
Access
ories
and
Bosch
company BOH matchi
Automob
limited LER ng 200,000,0 4,926,822, 1,585,935, 3,340,887, 1,959,140, 202,429,5
ile Diesel Wuxi USD 34% 34%
(joint-ve KLA parts of 00.00 915.13 351.09 564.04 528.29 61.46
System
nture) US internal
Co., Ltd
combu
stion
engine
Access
ories
Zhonglia
Limited and
n
matchi
Automob Liability
Shan Chen ng 600,620,0 CN 2,463,022, 1,018,595, 1,444,427, 89,651,967 320,216,9
ile Compan ghai Hong parts of 20% 20%
00.00 Y 641.80 612.73 028.07 .27 78.94
Electroni y internal
c Co.,
combu
Ltd
stion
engine
Access
ories
Weifu
and
Precision
matchi
Machine Chen
company ng 12,000,00 CN 286,245,68 121,830,32 164,415,36 126,569,19 14,678,29
ry Wuxi Haoju 20% 20%
limited parts of 0.00 Y 8.10 6.21 1.89 9.54 0.63
Manufac n
internal
turing
combu
Co., Ltd.
stion
engine
Explanation on major accounting policy and accounting estimation in joint venture and affiliated enterprises difference from the
policy and estimation of the Company:
Nil
15. Long-term equity investment
100
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
(1) Details of long-term equity investment
Unit: RMB
Proporti Explanation on the
Proportion
on of incongruity in Impairmen
of share Cash
voting share holding t provision
Calculation Initial investment Balance at Increase/decreas Balance at holding in Impairment bonus
Invested company rights in proportion and of
method cost period-begin e(+,-) period-end invested provision this
invested voting proportion accruing
company year
compan in invested this year
(%)
y (%) company
Weifu Autocam Precision
Equity method 37,842,087.00 64,679,626.18 5,867,407.16 70,547,033.34 50% 50%
Machinery Corp.
Weifu Environment Catalysts
Equity method 24,500,000.00 192,267,736.93 22,886,800.45 215,154,537.38 49% 49%
Co., Ltd
Bosch Automobile Diesel
Equity method 893,372,014.77 992,138,362.74 409,564,259.95 1,401,702,622.69 34% 34%
System Co., Ltd
Zhonglian Automobile
Equity method 120,124,000.00 398,088,504.09 64,043,395.79 462,131,899.88 20% 20%
Electronic Co., Ltd.
Weifu Precision Machinery
Equity method 2,000,000.00 29,397,006.55 2,958,898.13 32,355,904.68 20% 20%
Manufacturing Co., Ltd.
Wuxi ITM Engine Co., Ltd. Equity method 4,000,000.00 3,970,736.36 -3,970,736.36
Guolian Securities Co., Ltd. Cost method 12,000,000.00 12,000,000.00 12,000,000.00 1.2% 1.2% --
Guangxi Liufa Co., Ltd. Cost method 1,600,000.00 1,600,000.00 1,600,000.00 1.22% 1.22% -- 1,600,000.00
Financial Company of
Changchai Group Co., Cost method 800,000.00 800,000.00 800,000.00 -- 800,000.00
Ltd.
H&J Vanguard
Cost method 33,000,000.00 33,000,000.00 33,000,000.00 11.72% 11.72% -- 33,000,000.00
Investment Co., Ltd.
Nanjing Hengtai Insurance
Cost method 1,000,000.00 1,000,000.00 1,000,000.00 1.85% 1.85% -- 1,000,000.00
and Broker Co., Ltd.
Jiangsu HSBC Insurance
Cost method 500,000.00 500,000.00 500,000.00 10% 10% -- 500,000.00
Agents Limited
Yangdong Co., Ltd. Cost method 2,355,900.00 2,355,900.00 2,355,900.00 1.18% 1.18% -- 2,355,900.00
Henan Gushi Weining Oil
Pump & Nozzle Co., Ltd. Cost method 2,033,106.95 2,033,106.95 2,033,106.95 -- 2,033,106.95
etc.
101
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Yangdong Co., Ltd. （Weifu
Cost method 200,000.00 200,000.00 -200,000.00 --
Jinning ）
Wuxi Venture Capital
Cost method 3,000,000.00 3,000,000.00 3,000,000.00 1.4118% 1.4118% --
Limited Company
Beijing Foton Environmental
Cost method 86,940,000.00 86,940,000.00 86,940,000.00 13.44% 13.44% -- 11,000,000.00
Engine Co., Ltd.
Wuxi Xidong Technological
Cost method 5,000,000.00 5,000,000.00 5,000,000.00 1.43% 1.43% --
Industry Park Co., Ltd.
Shanghai IMS Automotive
Cost method 10,000,000.00 10,000,000.00 10,000,000.00 18.52% 18.52%
Electronic System Co., Ltd.
Total -- 1,240,267,108.72 1,838,970,979.80 501,150,025.12 2,340,121,004.92 -- -- -- 52,289,006.95 0.00 0.00
102
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
(2) Limited ability for capital transfer to investment enterprise
Unit: RMB
Long-term equity investment that has limited ability un-recognized investment losses
Restriction reasons
of capital transfer to investment enterprise accumulative in period
Explanation on long-term equity investment:
1. ITM Engine: the former affiliated company of the Company, and 40% register capital was held by the Company. The company
was verified industrial and commerce de-registration on 13 April 2012.
2. Bosch Automobile Diesel System Co., Ltd: register capital amounting to USD 0.2 billion. The Company invested USD 60 million,
a 30% in total registered capital. In this period, according to the equity transfer agreement signed between the Company and Wuxi
Industry Group, 1.5% equity of Bosch Diesel System held by Wuxi Industry Group was transferred by the Company; according to
the equity transfer agreement signed between the Company and German Robert Bosch Co., Ltd, 1% equity of Bosch Diesel System
held by German Robert Bosch Co., Ltd was transferred by the Company; after transfer, the Company owes 32.5% in total register
capital of Bosch Diesel System while Weifu Jinniang invested USD 3 million, a 1.5% in total register capital.
16. Investment real estate
(1) Investment real estate measured by cost
√application □ non-application
Unit: RMB
Book balance at Increase during Decrease during Book balance at
Item
period-begin the period the period period-end
I. Total original book value 24,091,482.75 0.00 0.00 24,091,482.75
1. Houses and buildings 24,091,482.75 0.00 0.00 24,091,482.75
2. Land use rights
II. Accumulated depreciation and accumulated
19,739,270.89 235,441.56 0.00 19,974,712.45
amortization
1. Houses and buildings 19,739,270.89 235,441.56 0.00 19,974,712.45
2. Land use rights
III. Total net book value of investment real estate 4,352,211.86 0.00 0.00 4,116,770.30
1. Houses and buildings 4,352,211.86 4,116,770.30
2. Land use rights
IV. Total accumulate provision for impairment of
0.00 0.00 0.00 0.00
investment real estate
1. Houses and buildings
2. Land use rights
V. Total book value of investment real estate 4,352,211.86 0.00 0.00 4,116,770.30
1. Houses and buildings 4,352,211.86 4,116,770.30
2. Land use rights
Unit: RMB
This period
Depreciation and amortization amount in this period 235,441.56
Withdrawal of impairment provision for investment real estate
(2) Investment real estate measured by fair value
□ Application √ non-application
Explain the investment real estate that changing measurement mold in report period, and the investment real estate without property
certificate done as well as the reasons for property certificate un-finished and predicted the time to obtained that certificates
17. Fixed assets
(1) Particular about fixed assets
Unit: RMB
Book balance at Decrease during this Book balance at
Item Increase during this period
period-begin period period-end
I. total of book balance: 2,481,605,688.27 126,037,528.69 31,197,186.04 2,576,446,030.92
Including: House & 749,973,347.43 749,973,347.43
103
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
buildings
Machinery equipments 1,473,891,164.69 113,476,717.92 26,369,061.03 1,560,998,821.58
Transportation tools 21,927,716.47 1,278,403.20 1,372,362.00 21,833,757.67
Other equipment 235,813,459.68 11,282,407.57 3,455,763.01 243,640,104.24
Book balance at Increase during Accrual in this Decrease during this Book balance at
--
period-begin this period period period period-end
II. total of accumulated
1,019,856,548.30 75,609,068.39 75,348,777.20 23,746,005.38 1,071,719,611.31
depreciation:
Including: House &
171,270,118.39 11,475,703.17 11,475,703.17 182,745,821.56
buildings
Machinery equipments 710,619,710.46 54,823,389.76 54,823,389.76 19,385,860.45 746,057,239.77
Transportation tools 14,250,686.49 1,182,556.52 1,182,556.52 1,142,208.59 14,291,034.42
Other equipment 123,716,032.96 8,127,418.94 7,867,127.75 3,217,936.34 128,625,515.56
Book balance at Book balance at
-- --
period-begin period-end
III. total net value of fixed
1,461,749,139.97 -- 1,504,726,419.61
assets
Including: House &
578,703,229.04 -- 567,227,525.87
buildings
Machinery equipments 763,271,454.23 -- 814,941,581.81
Transportation tools 7,677,029.98 -- 7,542,723.25
Other equipment 112,097,426.72 -- 115,014,588.68
IV. total of impairment
104,239,630.38 -- 104,101,194.15
provision
Including: House &
--
buildings
Machinery equipments 95,817,866.87 -- 95,754,122.80
Transportation tools 134,401.36 -- 134,401.36
Other equipment 8,287,362.15 -- 8,212,669.99
V. total book value of fixed
1,357,509,509.59 -- 1,400,625,225.46
assets
Including: House &
578,703,229.04 -- 567,227,525.87
buildings
Machinery equipments 667,453,587.36 -- 719,187,459.01
Transportation tools 7,542,628.62 -- 7,408,321.89
Other equipment 103,810,064.57 -- 106,801,918.69
Depreciation in this period amounting to 75,609,068.39 yuan; original price transfer from construction in progress to fixed assets
amounting as 108,167,943.80 yuan
(2) Temporary idle fixed assets
Unit: RMB
Depreciation Impairment
Item Original book value Net book value Note
accumulative provision
House & buildings 0.00
Machinery
0.00
equipments
Transportation
0.00
tools
(3) Fixed assets leasing-in by financing lease
□ Application √ non-application
(4) Fixed assets leasing-out by operational lease
□ Application √ non-application
104
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
(5) Fixed assets held for sale in period-end
Unit: RMB
Disposal expense
Item Book value Fair value Disposal date predicted
predicted
(6) Fixed assets with un-completed property certificates
Times expected for
Item Reasons for un-completed certificate
certificate completed
Plant and office building of Weifu Chang’an Still in process of relevant property procedures 2012-12-31
Newly built plant, in process of relevant property
Plant in Huishan Development zone, parent company 2012-12-31
procedures
Explanation on fixed assets:
Nil
18. Construction in process
(1)
Unit: RMB
Amount at period-end Amount at period-begin
Item Provision Provision
Book balance Carrying value Book balance Carrying value
reserve reserve
R& D as well as
industrialization of WAPS and
5,500,685.90 5,500,685.90 35,734,087.26 35,734,087.26
capacity promotion for parts
of diesel common rail system
Construction of industry zone
4,376,881.48 4,376,881.48 7,652,729.49 7,652,729.49
district
Industrialization of auto
tail-gas treatment system 24,240,838.10 24,240,838.10 5,609,392.60 5,609,392.60
products
Engineering research
2,808,284.37 2,808,284.37 11,308,448.56 11,308,448.56
institution project
Other projects 52,410,532.85 4,469,121.67 47,941,411.18 42,452,871.45 4,469,121.67 37,983,749.78
Total 89,337,222.70 4,469,121.67 84,868,101.03 102,757,529.36 4,469,121.67 98,288,407.69
105
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
(2) Changes of major projects under construction Unit: RMB
including:
Proportion of Accumulated Interest
Increase interest
Amount at Transfer to Other project amount of capitalization Amount at
Name Budget during the Progress capitalized Capital source
period-begin fixed assets decrease investment in interest rate of the period-end
period amount of the
budget (%) capitalization year (%)
year
Construction of
industry zone 572,500,000.00 7,652,729.49 2,793,593.01 6,069,441.02 3.4% 3.4% Fund-raised 4,376,881.48
district
Engineering
research Raised,
70,000,000.00 11,308,448.56 35,345.48 8,535,509.67 98.7% 100 2,808,284.37
institution self-raised
project
R& D as well as
industrialization
of WAPS and
capacity Raised,
500,000,000.00 35,734,087.26 7,024,386.74 37,257,788.10 42.2% 42.2% 5,500,685.90
promotion for self-raised
parts of diesel
common rail
system
Industrialization
of auto tail-gas
200,000,000.00 5,609,392.60 18,631,445.50 19.4% 19.4% Fund-raised 24,240,838.10
treatment
system products
Total 1,342,500,000.00 60,304,657.91 28,484,770.73 51,862,738.79 0.00 -- -- 0.00 0.00 -- -- 36,926,689.85
Explanation on changes of major projects under construction
The above projects have no capitalized interest
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(3) Construction in process impairment provision
Unit: RMB
Amount at Increase during Decrease during Amount at
Item Accrual Reason
period-begin this period this period period-end
Jinning sporadic projects 4,469,121.67 4,469,121.67
Total 4,469,121.67 0.00 0.00 4,469,121.67 --
(4) Progress of material construction in progress
Item progress Note
Construction of industry zone district 3.4%
Engineering research institution project 100%
R& D AS WELL AS INDUSTRIALIZATION OF WAPS AND CAPACITY PROMOTION FOR
42.2%
PARTS OF DIESEL COMMON RAIL SYSTEM
Industrialization of auto tail-gas treatment system products 19.4%
(5) Explanation of construction in process
Nil
19. Construction materials
Unit: RMB
Amount at Increase in this
Item Decrease in this term Amount at period-end
period-beginning term
Total 0.00 0.00 0.00 0.00
Explanation on construction materials
Nil
20. Disposal of fixed assets
Unit: RMB
Book balance at
Item Book balance at period-end Reasons for turn to disposal
period-beginning
Total 0.00 0.00 --
Explain the progress of disposal of fixed assets transfer over one year
21. Productive biological assets
(1) Measured by cost
□application √non-application
(2) Measured by fair value
□ Application √ non-application
22. oil/gas assets
Unit: RMB
Book balance at Increase in this Decrease in Book balance
Item
period-beginning term this term at period-end
I. Total original book value
1. Equity of mine exploitation
2. Equity of mine un-exploited
3. Well and relevant equipment
II. Total consumption accumulative
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
1. Equity of mine exploitation
2. Well and relevant equipment
III. Total impairment of oil/gas assets accumulative
1. Equity of mine exploitation
2. Equity of mine un-exploited
3. Well and relevant equipment
IV. Total book value of oil/gas assets 0.00 0.00
1. Equity of mine exploitation
2. Equity of mine un-exploited
3. Well and relevant equipment
Explanation on oil/gas assets
23. Intangible assets
(1) Particular about intangible assets
Unit: RMB
Book balance at Increased in the decreased in the Book balance at
Item
period-begin period period period-end
I. total of original value 303,058,015.83 34,871.79 0.00 303,092,887.62
Land use right of parent company 194,142,164.60 194,142,164.60
Trademark use right of Weifu Jinning 26,355,900.00 26,355,900.00
Land use right of Weifu Jinning 28,751,600.00 28,751,600.00
Land use right of Weifu Diesel System 13,231,740.00 13,231,740.00
Computer software of Weifu Diesel System 1,486,145.72 1,486,145.72
Land use right of Weifu ITM 17,136,659.60 17,136,659.60
Land use right of Weifu Tianli 13,968,816.80 13,968,816.80
Computer software of Weifu Tianli 2,705,380.26 34,871.79 2,740,252.05
Land use right of Weifu Jialin 1,150,072.22 1,150,072.22
Non-patents technology of Weifu Schmitter 3,539,793.05 3,539,793.05
Computer software of Weifu Lida 589,743.58 589,743.58
II. total accumulated amortization 36,489,929.25 3,588,885.55 0.00 40,078,814.80
Land use right of parent company 6,298,736.68 1,967,691.85 8,266,428.53
Trademark use right of Weifu Jinning 9,709,000.00 9,709,000.00
Land use right of Weifu Jinning 13,176,879.56 479,136.00 13,656,015.56
Land use right of Weifu Diesel System 2,089,443.13 141,041.74 2,230,484.87
Computer software of Weifu Diesel System 811,728.36 109,094.02 920,822.38
Land use right of Weifu ITM 2,941,793.28 171,366.60 3,113,159.88
Land use right of Weifu Tianli 569,505.99 171,131.80 740,637.79
Computer software of Weifu Tianli 508,782.28 262,121.58 770,903.86
Land use right of Weifu Jialin 134,241.88 12,021.66 146,263.54
Non-patents technology of Weifu Schmitter 147,491.40 176,989.68 324,481.08
Computer software of Weifu Lida 102,326.69 98,290.62 200,617.31
III. total net book value of intangible assets 266,568,086.58 -3,554,013.76 0.00 263,014,072.82
Land use right of parent company 187,843,427.92 -1,967,691.85 185,875,736.07
Trademark use right of Weifu Jinning 16,646,900.00 0.00 0.00 16,646,900.00
Land use right of Weifu Jinning 15,574,720.44 -479,136.00 15,095,584.44
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Land use right of Weifu Diesel System 11,142,296.87 -141,041.74 11,001,255.13
Computer software of Weifu Diesel System 674,417.36 -109,094.02 565,323.34
Land use right of Weifu ITM 14,194,866.32 -171,366.60 14,023,499.72
Land use right of Weifu Tianli 13,399,310.81 -171,131.80 13,228,179.01
Computer software of Weifu Tianli 2,196,597.98 -227,249.79 1,969,348.19
Land use right of Weifu Jialin 1,015,830.34 -12,021.66 1,003,808.68
Non-patents technology of Weifu Schmitter 3,392,301.65 -176,989.68 3,215,311.97
Computer software of Weifu Lida 487,416.89 -98,290.62 389,126.27
IV. Total intangible asset impairment provisions 16,646,900.00 0.00 0.00 16,646,900.00
Land use right of parent company
Trademark use right of Weifu Jinning 16,646,900.00 16,646,900.00
Land use right of Weifu Jinning
Land use right of Weifu Diesel System
Computer software of Weifu Diesel System
Land use right of Weifu ITM
Land use right of Weifu Tianli
Computer software of Weifu Tianli
Land use right of Weifu Jialin
Non-patents technology of Weifu Schmitter
Computer software of Weifu Lida
Total of intangible asset book value 249,921,186.58 -3,554,013.76 0.00 246,367,172.82
Land use right of parent company 187,843,427.92 -1,967,691.85 185,875,736.07
Trademark use right of Weifu Jinning 0.00 0.00
Land use right of Weifu Jinning 15,574,720.44 -479,136.00 15,095,584.44
Land use right of Weifu Diesel System 11,142,296.87 -141,041.74 11,001,255.13
Computer software of Weifu Diesel System 674,417.36 -109,094.02 565,323.34
Land use right of Weifu ITM 14,194,866.32 -171,366.60 14,023,499.72
Land use right of Weifu Tianli 13,399,310.81 -171,131.80 13,228,179.01
Computer software of Weifu Tianli 2,196,597.98 -227,249.79 1,969,348.19
Land use right of Weifu Jialin 1,015,830.34 -12,021.66 1,003,808.68
Non-patents technology of Weifu Schmitter 3,392,301.65 -176,989.68 3,215,311.97
Computer software of Weifu Lida 487,416.89 -98,290.62 389,126.27
The amount amortized in this period accounting as 3,588,885.55 yuan
(2) Expenditure of project development
Unit: RMB
Decrease during the period
Amount at Increase during the Amount at
Item Record into current Confirm as intangible
period-beginning period period-end
gains and losses assets
Total 0.00 0.00 0.00 0.00 0.00
The proportion of development expenditure of total expenditure in R&D projects in reporting period
The proportion of intangible assets form by internal R&D in total book value of intangible assets at period-end
For development projects, including single price over one million yuan occurred in this period and the assessment price has been kept
in book, disclosed the assessment institution and way of assessment:
(3) Intangible assets without property certificate obtained
24. Goodwill
Unit: RMB
Items Amount at Increase during the Decrease during Amount at Depreciation
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period-beginning period the period period-end reserves
Weifu Tianli 1,784,086.79 1,784,086.79
Total 1,784,086.79 0.00 0.00 1,784,086.79 0.00
Explain the impairment testing method and withdrawal method for impairment provision of goodwill:
Good will of Weifu Tianli: In 2010, the Company increasing capital to Weifu Tianli for holding merger; the goodwill was the part
that merger cost over than fair value of Weifu Tianli’s identifiable net assets. Weifu Tianli are running normally with profit earned in
2011 and January to June of 2012, and no sign of impairment of goodwill been found in Weifu Tianli.
25. Long-term deferred expense
Unit: RMB
Balance at Increased in the Amortization Other Balance at Reasons for
Item
period-begin period during this period decrease period-end other decrease
Decoration charge 8,403,914.14 401,650.60 1,151,532.08 7,654,032.65 --
Natural gas pipeline charge 2,098,082.00 209,808.00 1,888,274.00 --
Others 740,366.06 1,992,526.50 399,723.28 2,333,169.28 --
Total 9,144,280.20 4,492,259.10 1,761,063.36 0.00 11,875,475.93 --
Explanation on long-term deferred expense:
Nil
26. Deferred income tax assets and deferred income tax liabilities
(1) Net amount of deferred income tax assets and deferred income tax liabilities before deduction
√application □non-application
Deferred income tax assets and deferred income tax liability that recognized
Unit: RMB
Item Amount at period-end Amount at period-begin
Deferred income tax assets:
Assets impairment provision 37,183,310.77 37,032,532.19
Opening charge
Deductible losses
Operation losses from subsidiary 2,874,895.38 2,390,241.42
Deferred income 8,679,750.00 8,847,000.00
Internal un-realized profit 2,544,134.63 4,458,291.48
Payable salary, three-guarantee accrual etc. 30,449,984.90 30,603,817.94
Subtotal 81,732,075.68 83,331,883.03
Deferred income tax liability:
Assessment of transactional financial instrument and derivative
financial instrument
Variation of fair value of financial assets available for sale which
13,630,800.00
reckoned into capital reserve
Value-added assessment of Weifu Tianli 2,634,458.90 2,689,975.40
Subtotal 16,265,258.90 2,689,975.40
Details of un-recognized deferred income tax assets
Unit: RMB
Item Amount at period-end Amount at period-begin
Deductible temporary differences 16,423,371.59 16,426,231.77
Deductible losses 14,708,042.49 14,586,941.82
Total 31,131,414.08 31,013,173.59
The deductible losses of un-recognized deferred income tax assets are expired in the follow year:
Unit: RMB
Year Amount at period-end Amount at period-begin Note
110
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
2013 14,708,042.49 14,586,941.82 Weifu ITM has un-remedy deficit occurred in 2008
Total 14,708,042.49 14,586,941.82 --
Details of taxable difference and deductible differences
Unit: RMB
Amount of temporary differences
Item
Amount at period-end Amount at period-begin
Items of taxable differences
Bad debt provision 28,250,536.56 26,396,861.34
Inventory depreciation provision 103,805,915.56 104,443,291.56
Impairment provision of long-term equity investment 52,289,006.95 52,489,006.95
Impairment provision of fixed assets 104,101,194.15 104,239,630.38
Impairment provision of construction in progress 4,469,121.67 4,469,121.67
Impairment provision of intangible assets 16,646,900.00 16,646,900.00
Operation losses from subsidiary 26,207,623.99 24,147,907.52
Deferred income 57,865,000.00 58,980,000.00
Internal un-realized profit 16,768,130.33 24,645,429.09
Other 202,999,899.23 204,025,452.84
Subtotal 613,403,328.44 620,483,601.35
Item of deductible differences
Variation of fair value of financial assets available for sale 90,872,000.00
Value-added assessment of Weifu Tianli 17,563,059.30 17,933,169.30
Subtotal 108,435,059.30 17,933,169.30
(2) Net amount of deferred income tax assets and deferred income tax liabilities after deduction
□application √non-application
Explanation on deferred income tax assets and deferred income tax liabilities
Nil
27. Details of asset impairment provision
Unit: RMB
Balance as at Increase during Decrease during this period Balance as at
Item
period-begin this period Reversal Written-off period-end
I. Bad debt reserve 26,396,861.34 2,276,528.83 293,392.91 129,460.70 28,250,536.56
II. Inventory falling price reserves 104,443,291.56 71,492.00 0.00 708,868.00 103,805,915.56
III. Impairment provision of financial assets
available for sale
IV. Impairment provision of investment held to
maturity
V. Long-term equity investment impairment
52,489,006.95 0.00 200,000.00 52,289,006.95
provision
VI. Investment realestateimpairment
0.00 0.00 0.00
provision
VII. Fixed asset impairment provision 104,239,630.38 138,436.23 104,101,194.15
VIII. Impairment provision for construction
materials
IX. Construction-in-process impairment provision 4,469,121.67 0.00 4,469,121.67
X. Capitalized Biological assets impairment
provision
Including: Impairment provision for maturity
production biological assets
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XI. oil assets impairment provision
XII. Intangible assets impairment provision 16,646,900.00 0.00 16,646,900.00
XIII. Goodwill impairment provision 0.00
XIV. other
Total 308,684,811.90 2,348,020.83 293,392.91 1,176,764.93 309,562,674.89
Explanation on asset impairment provision:
Nil
28. Other non-current assets
Unit: RMB
Item Amount at period-end Amount at period-begin
Total 0.00 0.00
Explanation on other non-current assets
29. Short-term loans
(1) Type of Short-term Loans
Unit: RMB
Item Amount as at period-end Amount as at period-begin
Mortgage loans
Collateral loan
Ensure loans
Guarantee loans 465,000,000.00
Factoring borrows 30,000,000.00
Total 0.00 495,000,000.00
Explanation on short-term loans
Nil
(2) Short-term loans un-paid by expired
Unit: RMB
Unit Loan amount Loan rates Using in Reasons of un-paid Predicted payment date
Total 0.00 -- -- -- --
Amount paid after balance sheet date.
Explanation on short-term loans: for those expired short-term loans obtained expansion period, explain the expansion condition and
new expiration:
30. Transactional financial liabilities
Unit: RMB
Fair value at Fair value at
Item
period-end period-begin
Transactional bonds offered
Financial liability designated for fair value measurement and variation of fair value
recon into current gains/losses
Derivative financial liability
Other financial liability
Total
Explanation on transactional financial liabilities:
31. Note payable
Unit: RMB
Type Amount at period-end Amount at period-begin
112
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Commercial acceptance bill
Bank acceptance bill 227,474,550.12 164,301,719.94
Total 227,474,550.12 164,301,719.94
Amount expired in next accounting period: yuan
Explanation on note payable:
At period-end, margin saving 93.4615 million yuan was provided for the bank acceptance bill, and 111.9933 million yuan was pledge
for not receivable
32. Account payables
(1)
Unit: RMB
Item Amount as at period-end Amount as at period-begin
Within 1 year 1,206,026,271.76 1,281,117,377.51
1-2 years 2,278,390.92 4,115,809.28
2-3 years 2,654,484.26 5,183,739.67
Over 3 years 11,270,133.42 7,476,313.28
Total 1,222,229,280.36 1,297,893,239.74
(2)Accounts payable to shareholders holding 5% or above voting shares of the Company
√application □non-application
Unit: RMB
Name of the company Amount as at period-end Amount as at period-begin
ROBERT BOSCH GMBH(German Bosch) 21,539,981.77
BOSCH Corporation(Japan Bosch) 759,974.20
ROBERT BOSCH Ltd.(Brazil Bosch) 280,715.93
Bosch Automobile Diesel System Co., Ltd 5,623,282.56 38,965,431.56
Total 28,203,954.46 38,965,431.56
Explanation on major account payable with over one year age:
Nil
33. Account received in advance
(1)
Unit: RMB
Item Amount as at period-end Amount as at period-begin
Within 1 year 56,892,922.20 47,368,413.18
1-2 years 2,421,731.22 3,977,350.52
2-3 years 2,644,888.47 1,624,236.70
Over 3 years 2,075,506.47 2,319,940.85
Total 64,035,048.36 55,289,941.25
(2)Accounts received in advance to shareholders holding 5% or above voting shares of the Company
√application □non-application
Unit: RMB
Name of the company Amount as at period-end Amount as at period-begin
ROBERT BOSCH Ltd. .(Brazil Bosch) 16,118.32 0.00
Total 16,118.32 0.00
Explanation on major account received in advance with over one year age:
Nil
113
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34. Wages payable
Unit: RMB
Balance as at Increase during Decrease during Balance as at
Item
period-begin this period this period period-end
I. Wage, bonus, allowance and subsidy 202,068,498.83 172,441,963.04 182,010,695.11 192,499,766.76
II. Employees’ welfare 14,998,032.45 14,998,032.45
III. Social security 35,742,773.98 61,047,113.81 59,979,598.82 36,810,288.97
Including: medicinal insurance 8,455,623.87 15,170,155.18 14,802,527.83 8,823,251.22
Endowment insurance 22,971,350.73 38,550,537.09 37,912,574.10 23,609,313.72
Unemployment insurance 2,576,103.26 3,994,998.47 3,984,255.20 2,586,846.53
Employment injury insurance 938,040.34 1,985,141.34 1,945,483.56 977,698.12
Maternity insurance 801,655.78 1,346,281.73 1,334,758.13 813,179.38
IV. Housing public reserve 1,546,640.59 21,377,272.70 21,416,954.00 1,506,959.29
V. Compensation from labor relationship dismissed
VI. Other 39,414,074.57 4,730,511.80 4,906,575.18 39,238,011.19
Residence subsidy for employees 24,155,327.41 52,356.00 1,065,050.97 23,142,632.44
Labor union and staff educational charge 14,851,468.76 4,170,870.80 3,767,744.21 15,254,595.35
Other 407,278.40 507,285.00 73,780.00 840,783.40
Total 278,771,987.97 274,594,893.80 283,311,855.56 270,055,026.21
Wages payable has 0 yuan for arrears
Outlay for labor union and staff educational charge amounting as 15,254,595.35 yuan; non-monetary welfare amounting as 0 yuan
and compensation for dismiss of labor relationship amounting to 0 yuan
The wages payable expected to pay and the amount for payment:
According to the resolution of shareholders’ general meeting, the awards funds accrual by parent company included in the salary,
bonus, allowance and subsidy. The Company will use the fund according by the Board.
35. Tax payable
Unit: RMB
Item Amount as at period-end Amount as at period-begin
VAT 4,487,486.51 5,769,272.41
Consumption tax
Business tax 20,014.80 173,046.00
Enterprise income tax 11,444,202.66 64,506,553.13
Personal income tax 334,007.50 553,621.27
City maintenance and construction tax 1,185,429.38 1,898,229.84
Other 3,427,536.47 4,836,401.09
Total 20,898,677.32 77,737,123.74
Explanation on tax payable: if the local taxation bureau agrees mutual adjustment between vary branches and plants, explain taxation
calculation:
Nil
36. Interest payable
Unit: RMB
Item Amount as at period-end Amount as at period-begin
Interest of long-term loans of installment and interest charges
Corporate bond interest
Interest payable for short-term loans
National debt transfer to loans 150,000.00 930,000.00
Total 150,000.00 930,000.00
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Explanation on interest payable:
Nil
37. Dividend payable
Unit: RMB
Amount as at Amount as at Reasons for un-payment
unit
period-end period-begin over one year
Dividend payable of parent company 204,040,198.50 0.00
Minority shareholders’ equity of Weifu Jinning 24,648,829.60
Minority shareholders’ equity of Weifu Lida 3,444,762.15
Total 228,689,028.10 3,444,762.15 --
Explanation on dividend payable:
The annual profit distribution plan for 2011 has been deliberated and approved by Annual Shareholders’ General Meeting of 2011
dated 23 May 2012 and completed in July 2012. Totalling 204,040,198.50 yuan common dividends were distributed
38. Other payables
(1)
Unit: RMB
Item Amount as at period-end Amount as at period-begin
Within 1 year 69,877,981.34 73,196,628.69
1-2 years 20,018,645.32 2,941,318.76
2-3 years 119,906.80 2,251,679.81
Over 3 years 7,460,409.98 5,601,944.17
Total 97,476,943.44 83,991,571.43
(2) Others payable due to shareholders units holding over 5% (5% included) voting shares of the Company
at period-end
□application √ non-application
(3) Explanation on other account payable with over one year age
Item 2012-06-30 Note
Nanjing Jidian Industrial Group Co., Ltd. 4,500,000.00 Current amount
(4) Explanation on unit of major connected amount for other account payable
Nil
39. Predicted liability
Unit: RMB
Amount at Increase during Carry-forward Amount at
Item
period-begin the period during the year period-end
Guarantee provided externally
Un-settle lawsuit
Products quality security
Reorganization obligation
Dismiss welfare
Deficit contract for implemented
Other
Total 0.00 0.00 0.00 0.00
Explanation on predicted liability:
40. Non-current liability due within one year
(1)
Unit: RMB
Item Amount as at period-end Amount as at period-begin
Long-term loans due within one year 0.00 3,000,000.00
115
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Bond payable due within one year
Long-term account payable due within one year
Total 0.00 3,000,000.00
(2) Long-term loans due within one year
Long-term loans due within one year
Unit: RMB
Item Amount as at period-end Amount as at period-begin
Mortgage loans
Collateral loan
Ensure loans
Guarantee loans 0.00 3,000,000.00
Total 0.00 3,000,000.00
In long-term loans due within one year, amount of undue but with expansion time.
Top five long-term loans due within one year:
Unit: RMB
Amount at period-end Amount at period-begin
Starting date Termination
Unit Currency Rate (%) Foreign Local Foreign Local
for loans date for loans
currency currency currency currency
Jiangsu
International 2009-11-27 2012-05-27 CNY 0.3% 0.00 3,000,000.00
Trust Corp.
Total -- -- -- -- -- 0.00 -- 3,000,000.00
Due loans in long-term loans due within one year:
Unit: RMB
Unit Amount loans Undue date Annual rate (%) Using purpose Unpaid reasons Paid expected
Total 0.00 -- -- -- -- --
Amount paid after balance sheet date.
Explanation on long-term loans due within one yea:
Nil
(3) Bond payable due within one year
Unit: RMB
Interest Interest
Interest Interest paid
Issuing payable at payable in Amount at
Name Value Issuing date Terms payable in in this
amount period-begi this period-end
this period period
n period-end
Explanation on bond payable due within one yea:
(4) Long-term account payable due within one year
Unit: RMB
Amount at
Unit Terms Initial amount Rate (%) Interest reckoned Loan condition
period-end
Explanation on long-term account payable due within one yea:
41. Other current liability
Unit: RMB
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Item Book balance at period-end Book balance at period-begin
Sales discount 18,738,974.36 21,690,000.00
Vary subsidy 1,354,400.00 1,491,200.00
Three-guarantee charge 4,027,529.05 6,569,297.07
Other 6,342,498.45 4,858,112.40
Total 30,463,401.86 34,608,609.47
Explanation on other current liability:
Nil
42. Long-term loan
(1) Category of long-term loans
Unit: RMB
Item Amount at period-end Amount at period-begin
Mortgage loans
Collateral loan
Ensure loans
Guarantee loans
Total
Explanation on long-term loans:
(2) Top five long-term loans
Unit: RMB
Amount at period-end Amount at period-begin
Starting date Termination
Unit Currency Rate (%) Foreign Local Foreign Local
for loans date for loans
currency currency currency currency
Total -- -- -- -- -- --
Explanation on long-term loans: if there has long-term loans from undue with expansion obtained, explain the expansion condition,
principle, interest and predicted payment arrange:
43. Bond payable
Unit: RMB
Interest Interest
Interest Interest paid
Issuing payable at payable in Balance at
Name Value Issuing date Terms payable in in this
amount period-begi this period-end
this period period
n period-end
Bond payable including convertible corporate bond’s condition and time for shares transfer:
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
44. Long-term account payable
(1) Top five long-term account payable
Unit: RMB
Rate Interest Balance at
Unit Term Initial amount Loan condition
(%) reckoned period-end
To encourage Weifu Jinning to enter Nanjing
High-tech Technology Industry Development
Hi-tech Zone, financial supporting capital is allotted
Branch of by High-tech branch of Finance Bureau of
2011-12-28 to
Nanjing 5,040,000.00 0% 0.00 5,040,000.00 Nanjing for supporting use, the term is from
2026-12-28
Finance 28 December 2011 to 28 December 2026.
Bureau Provided that the operation period in the zone
is less than 15 years, financial supporting
capital will be reimbursed.
The transferred
national debt capital
Loan National debt transferred to loan: is the
received by Weifu
transferred transferred national debt capital received by
Jinning in 2007. Pay 3,730,000.00 2.55% 95,115.00 3,390,909.00
from treasury Weifu Jinning in 2007. Pay the loans with
the loans with
bond 11-year installment since 2012
11-year installment
since 2012
To encourage Weifu Jinning to enter Nanjing
High-tech Technology Industry Development
Hi-tech Zone, financial supporting capital is allotted
Branch of by High-tech branch of Finance Bureau of
2008-11-10 to
Nanjing 2,750,000.00 0% 0.00 2,750,000.00 Nanjing for supporting use, the term is from
2023-11-10
Finance 10 November 2008 to 10 November 2023.
Bureau Provided that the operation period in the zone
is less than 15 years, financial supporting
capital will be reimbursed.
To encourage Weifu Jinning to enter Nanjing
High-tech Technology Industry Development
Hi-tech Zone, financial supporting capital is allotted
Branch of by High-tech branch of Finance Bureau of
Nanjing 2004-8-5 to 2012-8-4 1,710,000.00 0% 0.00 1,710,000.00 Nanjing for supporting use, the term is from 5
Finance August 2004 to 4 August 2012. Provided that
Bureau the operation period in the zone is less than 15
years, financial supporting capital will be
reimbursed.
To encourage Weifu Jinning to enter Nanjing
High-tech Technology Industry Development
Hi-tech Zone, financial supporting capital is allotted
Branch of by High-tech branch of Finance Bureau of
2006-7-20 to
Nanjing 1,250,000.00 0% 0.00 1,250,000.00 Nanjing for supporting use, the term is from
2021-7-20
Finance 20 July 2006 to 20 July 2021. Provided that
Bureau the operation period in the zone is less than 15
years, financial supporting capital will be
reimbursed.
Total 14,480,000.00 95,115.00 14,140,909.00
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
(2)Details of financing rent payable in long-term payable
Unit: RMB
Amount at period-end Amount at period-begin
Unit
Foreign currency RMB Foreign currency RMB
Total 0.00 0.00 0.00 0.00
Amount of guarantee from independent third party for the financing rent of the Company
Explanation on long-term payable:
Nil
45. Specific account payable
Unit: RMB
Amount at Increase in this Decrease in Amount at
Item Note
period-begin period this period period-end
Total --
Explanation on specific account payable:
46. Other non-current liability
Unit: RMB
Book balance at Book balance at
Item
period-end period-begin
Appropriation on industrialization project of electrical control and high voltage jet VE
12,000,000.00 12,000,000.00
system of low emissions diesel
R&D subsidy for new products 48,530,000.00 48,530,000.00
Appropriation on reforming of production line technology and R&D ability of common
7,100,000.00 7,100,000.00
rail system for diesel by distributive high-voltage
Other 5,404,000.00 4,700,000.00
Total 73,034,000.00 72,330,000.00
Other non-current liability, including vary government subsidy related with assets and income as well as its balance at period-end:
1. Appropriation on industrialization project of electrical control and high voltage jet VE system of low emissions diesel: in
September 2009, Weifu Jinning signed “Project Contract of Technology Outcome Transferring Special Capital in Jiangsu Province”
with Nanjing Technical Bureau, according to which Weifu Jinning received appropriation RMB 6.35 million in 2009, RMB 4.775
million received in 2010 and RMB 0.875 million received in 2011. According to the contract, the attendance date of this project was:
from October of 2009 to March of 2012. This contract agreed 62% of newly increased investment in project would be spent in fixed
assets investment. Currently, the equipments are in an acceptance procedure.
2. R&D subsidy for new products: The subsidy for R&D of new products are received from Wuxi New Financial Bureau in 2011 for
year of 2012 to 2013
3. Appropriation on reforming of production line technology and R&D ability of common rail system for diesel by distributive
high-voltage: in 2011, specific fund RMB 7.1 million was allocated from Wuxi New Zone Financial Bureau.
47. Share capital
Unit: RMB
Increased (decreased) in this year
Amount at Shares Amount at
period-begin New shares period-end
Bonus shares converted from Other Sub-total
issued
public reserve
Total shares 567,275,995 112,858,000 112,858,000 680,133,995
Explanation on share capital changes, if there has capital increase/decrease in reporting period, disclosed the CPA’s name and
verification documents; for company limited within 3 years operation, explain the net assets before establishment; for those company
limited changed from limited liability company, explain the verification condition while established.
On 21 January 2012, the “Reply on Approval of Privately Share Offering of Weifu High-Technology Group Co., Ltd” (ZJXK[2012]
No. 109) issued by CSRC, approved that the Company’s privately offering new shares no more than 112,858,000 shares in total.
Each shares offering with price of 25.395 yuan. The privately offering of the Company totally offers 2 objects: Wuxi Industry Group
and ROBERT BOSCH GMBH (German Robert Bosch Co., Ltd).
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
On 10 February 2012, “Capital Verification Report””SGW[2012] No.: B006” issued by Jiangsu Gongzheng Tianye CPA Co., Ltd.
stated that: ended as 10 February 2012, totaling 112,858,000 RMB common shares (A stock) offered by Weifu Hi-Tech with fund
raising amounting to RMB 2,866,028,910.00 in total; net fund raising amounting to RMB 2,850,124,252.93 after deduction of
issuing expenses RMB15,904,657.07. Meanwhile, new capital RMB 112,858,000 was increased and capital public reserve as RMB
2,737,266,252.93. Industry Group and Bosch Company all invested by monetary. After offering, register capital for issuer turns to
RMB 680,133,995 with paid-in capital (share capital) accumulative as RMB 680,133,995.
48. Stock shares
Explanation on stock shares:
49. Specific Reserve
Explanation on specific Reserve:
50. Capital reserves
Unit: RMB
Amount at Increase during Decrease during Amount at
Item
period-begin this period this period period-end
Capital premium (Share capital premium) 876,835,085.21 2,737,266,252.93 3,614,101,338.14
Other capital reserve 19,083,331.38 19,083,331.38
Variation of fair value of financial assets available for sale 77,241,200.00 77,241,200.00
Total 895,918,416.59 2,814,507,452.93 0.00 3,710,425,869.52
Explanation on capital reserve:
On 21 January 2012, being approved (ZJXK[2012] No. 109) by CSRC, the Company privately offering new shares to Wuxi Industry
Group and ROBERT BOSCH GMBH (German Robert Bosch Co., Ltd) with RMB ordinary shares (A-share) 112,858,000 shares in
total with price of 25.395 yuan. Register capital increase 112,858,000 yuan, rest of the capital reckoned into capital reserve (Share
capital premium).
Variation of fair value of financial assets available for sale: refers to the amount of variation of fair value at closing price dated 30
June 2012 in Security Exchange, the SDEC held by the Company, after deducted deferred income tax
51. Surplus reserves
Unit: RMB
Decrease during this Amount at
Item Amount at period-begin Increase during this period
period period-end
Statutory surplus reserves 283,637,997.50 283,637,997.50
Free surplus reserve
Service fund
Enterprise development fund
Other
Total 283,637,997.50 0.00 0.00 283,637,997.50
Explanation on surplus reserve, if share capital converted from surplus reserve, remedy deficit and dividend distributed, explain
relevant resolutions:
52. General risk provision
Explanation on general risk provision:
53. Undistributed profits
Unit: RMB
Withdrawal or
Item Amount
Allocation Ratio
Undistributed profits at the end of last year before adjustment 3,317,227,992.26 --
Adjust the total undistributed profits at the beginning of the year (Increase +, Decrease -) --
Undistributed profits at the beginning of the year after adjustment 3,317,227,992.26 --
Add: The net profits belong to owners of patent company of this period 446,281,174.98 --
Less: Withdraw legal surplus reserves
Withdraw free surplus reserves
Withdraw general risk reserves
Handle common stock dividends 204,040,198.50
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Common stock dividends transferred to be capital stock
Undistributed profits at the end of the period 3,559,468,968.74 --
Details about adjusting the undistributed profits at the beginning of the year:
1) The retroactive adjustments to Accounting Standards for Business Enterprises and its relevant new regulations affect the
undistributed profits at the beginning of the year amounting to 0 Yuan.
2) The changes in accounting policies affect the undistributed profits at the beginning of the year amounting to 0 Yuan.
3) The major accounting error correction affects the undistributed profits at the beginning of the year amounting to 0 Yuan.
4) Merge scope changes caused by the same control affect the undistributed profits at the beginning of the year amounting to 0
Yuan.
5) Other adjustments affect the undistributed profits at the beginning of the year amounting to 0 Yuan.
The undistributed profits explain that the company initial public offering bonds should clearly state if the accumulated profits are
decided to be shared by old and new shareholders by general meeting of stockholders before issuing; while the company should
clearly disclose that the profits in the dividends payable belong to old shareholders after auditing if the general meeting of
stockholders decides the accumulated profits are allocated and shared by old shareholders before issuing.
According to the profit distribution plan 2011 approved in the Board in April 2012, as well as deliberated in Annual Shareholders’
General Meeting of 2011, base on the total share capital after privately offering in February 2012, distributed 3.00 yuan (tax included)
for each 10 shares, totally 204,040,198.50 yuan common dividend were distributed
54. Operating income and cost
(1) Operating income and cost
Unit: RMB
Item Amount of this period Amount of last period
Main operating income 2,437,884,756.39 2,991,206,455.62
Other operating income 184,856,377.61 286,353,291.34
Operating cost 1,935,729,790.13 2,426,221,608.75
(2) Primary business (By industries)
√ Applicable □ Not Applicable
Unit: RMB
Amount of this period Amount of last period
Industry
Operating income Operating cost Operating income Operating cost
Auto parts 2,437,884,756.39 1,768,194,868.67 2,991,206,455.62 2,151,733,657.34
Total 2,437,884,756.39 1,768,194,868.67 2,991,206,455.62 2,151,733,657.34
(3) Primary business (By products)
√ Applicable □ Not Applicable
Unit: RMB
Amount of this period Amount of last period
Products
Operating income Operating cost Operating income Operating cost
Auto fuel injection system 1,926,103,342.74 1,346,473,583.48 2,446,635,692.74 1,705,543,776.72
Intake system 85,367,431.72 60,566,106.97 77,887,348.79 45,748,373.17
Tail treatment system 426,413,981.93 361,155,178.22 466,683,414.09 400,441,507.45
Total 2,437,884,756.39 1,768,194,868.67 2,991,206,455.62 2,151,733,657.34
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
(4) Primary business (By districts)
√ Applicable □ Not Applicable
Unit: RMB
Amount of this period Amount of last period
District
Operating income Operating cost Operating income Operating cost
Domestic sales 2,274,800,702.10 1,610,187,800.09 2,869,301,070.09 2,032,796,207.56
Overseas sales 163,084,054.29 158,007,068.58 121,905,385.53 118,937,449.78
Total 2,437,884,756.39 1,768,194,868.67 2,991,206,455.62 2,151,733,657.34
(5) The operating income of the top five customers of the Company
Unit: RMB
The percentage in all operating income of the Company
Customer name Primary business income
(%)
Client 1 178,526,498.66 6.8%
Client 2 175,931,529.31 6.71%
Client 3 173,650,274.32 6.62%
Client 4 171,558,028.01 6.54%
Bosch Automobile Diesel System
137,990,850.23 5.26%
Co., Ltd
Total 837,657,180.53 31.94%
Explanation on operating income
Nil
55. Contract item income
√ Applicable □ Not Applicable
Introductions to contract item
56. Business tax and surcharges
Unit: RMB
Amount of last Calculating and
Item Amount of this period
period payment standards
Consumption tax
Business tax 704,052.72 507,125.68 5%
City maintenance and construction tax 9,081,654.13 10,708,766.58 7%
Education surcharge 6,487,346.87 7,204,723.81 5%
Resources tax
Total 16,273,053.72 18,420,616.07 --
Explanation on business tax and surcharges
Nil
57. Income of fair value changes
Unit: RMB
Sources generating income of fair value changes Amount of this period Amount of last period
Trading financial assets
Thereinto: Income of fair value changes generated by derivative financial
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
instruments
Trading financial assets liabilities
Investment real estate measured by fair value
Others
Total
Explanation on income of fair value changes
58. Investment income
(1) Particulars about investment income
Unit: RMB
Item Amount of this period Amount of last period
Income of long-term equity investment calculated based on cost 0.00 0.00
Income of long-term equity investment calculated based on equity 159,246,544.27 293,611,064.62
Investment income obtained from disposal of long-term equity investment
Investment income obtained during holding trading financial assets
Investment income obtained during held-to-maturity investment gaining
investment income
Investment income obtained during holding available-for-sale financial assets
Investment income obtained by handling trading financial assets
Investment income obtained from held-to-maturity investment
Investment income obtained from available-for-sale financial assets 740,000.00
Others
Total 159,986,544.27 293,611,064.62
(2) Income of long-term equity investment calculated based on cost
Unit: RMB
Company name Amount of this period Amount of last period Reasons of change (+,-)
Total 0.00 0.00 --
(3) Income of long-term equity investment calculated based on equity
Unit: RMB
Amount of this Amount of last
Company name Reasons of change (+,-)
period period
Bosch Automobile Diesel System Co., Profit decline due to influence from auto
63,897,901.88 167,094,353.32
Ltd industry
Zhonglian Automobile Electronic Co., Profit decline due to influence from auto
64,043,395.79 84,168,402.02
Ltd. industry
Profit decline due to influence from auto
Weifu Environment Catalysts Co., Ltd 22,442,877.70 26,001,143.91
industry
Weifu Autocam Precision Machinery Profit decline due to influence from auto
5,867,407.16 10,063,876.73
Corp. industry
Weifu Precision Machinery Profit decline due to influence from auto
2,989,998.10 6,699,134.95
Manufacturing Co., Ltd. industry
Other 4,963.64 -415,846.31
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Total 159,246,544.27 293,611,064.62 --
Investment income description: It should be introduced if there are significant restrictions to repatriation of investment income; it
also should be introduced if there is no this kind of significant restrictions:
No such significant restrictions in aspect of investment income
59. Asset impairment loss
Unit: RMB
Item Amount of this period Amount of last period
1. bad debt loss 1,964,308.38 193,083.00
2. inventory falling price loss 71,492.00 -302,240.89
3. impairment loss of available-for-sale financial assets
4. impairment loss of held-to-maturity investment assets
5. impairment loss of long-term equity investment
6. impairment loss of investment real estate
7. impairment loss of fixed assets 161,512.54
8. impairment loss of project goods and material
9. impairment loss of construction in process
10. impairment loss of productive living beings
11. impairment loss of oil gas
12. impairment loss of intangible assets
13. goodwill impairment loss
14. Others
Total 2,035,800.38 52,354.65
60. Non-operating income
(1) Unit: RMB
Item Amount of this period Amount of last period
Non-current assets disposal gains 2,214,516.31 4,124,523.84
thereinto: fixed assets disposal gains 2,214,516.31 4,124,523.84
intangible assets disposal gains
debt restructuring gains
exchange of non-monetary assets gains
accepting donations
government grants 1,323,000.00 1,815,300.00
Differences of merger cost in same control and equity deserve to shares 1,240,984.11
Other 741,472.44 104,054.97
Total 4,278,988.75 7,284,862.92
(2) Details of government grants Unit: RMB
Item Amount of this period Amount of last period Note
Technology reform of
553,000.00 XZBF(2011) 305
distributive-type HPCR system
Supporting capital for innovation of
720,000.00 Ningbo North Tech(2012) No. 15
scientifically enterprise
Jiangbei Finance Bureau JC 511 50,000.00 Ningbo North ZF(2012) No.9
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
bonus award
Science and technology expenses 1,030,000.00 Ningbo North Tech[2011)]No. 13
Other 785,300.00
Total 1,323,000.00 1,815,300.00 --
Explanation on non-operating income
Other non-operating income mainly refers to the equity compensation income from Nanjing Jinning
61. Non-operating expenditure
Unit: RMB
Item Amount of this period Amount of last period
Non-current assets disposal losses 381,171.82 503,436.27
thereinto: fixed assets disposal losses 381,171.82 503,436.27
intangible assets disposal losses
debt restructuring losses
exchange of non-monetary assets losses
donations
Local fund etc. 2,696,933.81 3,533,072.59
Other expenditure 226,854.67 160,831.32
Total 3,304,960.30 4,197,340.18
Explanation on non-operating expenditure
Nil
62. Income tax expense
Unit: RMB
Item Amount of this period Amount of last period
current income tax calculated based on tax law and relevant rules 58,851,751.79 95,737,158.42
deferred income tax adjustment
Increase/decrease of deferred income tax assets 1,599,807.36 -311,312.38
Increase/decrease of deferred income tax liability -55,516.50 -81,208.64
Total 60,396,042.65 95,344,637.40
63. Calculation of basic earnings per share and diluted earnings per share
Basic earnings per share =P0÷S
S= S0＋S1＋Si×Mi÷M0– Sj×Mj÷M0-Sk
Among which: P0 is the net profit attributable to the shareholders of ordinary shares of the Company or the net
profit attributable to the shareholders of ordinary shares after the deduction of non-recurring gains and losses; S is
the weighted average number of ordinary shares outstanding; S0 is the total number of shares at the beginning of
the period; S1 is the number of increased shares due to reserve’s conversion into share capital or distribution of
dividends in the reporting period; Si is the number of increased shares due to issue of new shares or debt-to-equity
in the reporting period; Sj is the number of decreased shares due to repurchase in the reporting period; Sk is the
number of contraction of shares in the reporting period; M0 is the number of months in the reporting period; Mi is
the number of accumulated months from the next month of shares increase to the end of the reporting period; Mj is
the number of accumulated months from the next month of shares decrease to the end of the reporting period.
Diluted earnings per share=P1/(S0＋S1＋Si×Mi÷M0–Sj×Mj÷M0–Sk+The weighted average number of ordinary
shares increased due to call warrants, share options and convertible bonds etc.)
Among which, P1 is the net profit attributable to the shareholders of ordinary shares of the Company or the net
profit attributable to the shareholders of ordinary shares after the deduction of non-recurring gains and losses, as
adjusted according to Enterprise Accounting Standards and relevant regulations after the effect of diluted potential
ordinary shares is taken into account. In the calculation of diluted earnings per share, the Company shall taken the
125
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
effect of all diluted potential ordinary shares on the net profit attributable to the shareholders of ordinary shares of
the Company or the net profit attributable to the shareholders of ordinary shares after the deduction of
non-recurring gains and losses and the weighted average number of shares and into account of the diluted earnings
per share according to the extent of dilution in sequence until the diluted earnings per share reaches the minimum.
64. Other consolidated income
Unit: RMB
Amount of this Amount of
Item
period last period
1.gains (losses) amount generated by available-for-sale financial assets 90,872,000.00
subtract: affected by income tax generated by available-for-sale financial assets 13,630,800.00
net amount reckoned in other consolidated income at earlier stage but turned to gains and losses at
the current period
subtotal 77,241,200.00 0.00
2. shares shared in other consolidated income of invested enterprises checked according to the
equity law
subtract: affected by income tax generated by shares shared in other consolidated income of
invested enterprises calculated according to equity law
net amount reckoned in other consolidated income at earlier stage but turned to gains and losses at
the current period
subtotal 0.00 0.00
3. gains (losses) amount generated by cash flow hedging instruments
subtract: affected by income taxes generated by cash flow hedging instruments
net amount reckoned in other consolidated income at earlier stage but turned to gains and losses at
the current period
subtract: adjustment to initially recognition amount turned to be hedged items
subtotal 0.00 0.00
4.translation differences of foreign currency financial statement
subtract: net amount of overseas operation turns to gains and losses at current period
subtotal
5. others
subtract: affected by income tax reckoned in other consolidated income
net amount reckoned in other consolidated income at earlier stage but turned to gains and losses at
the current period
subtotal 0.00 0.00
Total 77,241,200.00
Explanation on other consolidated income
Variation of fair value of financial assets available for sale: refers to the amount of variation of fair value at closing price dated 30
June 2012 in Security Exchange, the SDEC held by the Company
65. Notes to statement of cash flow
(1) Other cash received in relation to operation activities
Unit: RMB
Item Amount
Income from bank deposit interest 18,093,874.94
Government grant 2,726,025.38
Other 7,017,613.03
Total 27,837,513.35
Explanation on other cash received in relation to operation activities
Nil
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
(2) Other cash paid in relation to operation activities Unit: RMB
Item Amount
Expenses of cash paid 56,026,710.98
Expenses of management cash paid 77,205,186.59
Other 10,779,501.43
Total 144,011,399.00
Explanation on other cash paid in relation to operation activities
Nil
(3) Cash received from other investment activities Unit: RMB
Item Amount
Total 0.00
Explanation on cash received from other investment activities
(4) Cash paid related with investment activities Unit: RMB
Item Amount
Total 0.00
Explanation on cash paid related with investment activities
(5) Other cash received in relation to financing activities Unit: RMB
Item Amount
Offering expenses 8,404,657.07
Total 8,404,657.07
Explanation on other cash received in relation to financing activities
Nil
(6) Cash paid related with financing activities Unit: RMB
Item Amount
Offering expenses 4,593,872.70
Total 4,593,872.70
Explanation on cash paid related with financing activities
Nil
66. Supplementary information to statement of cash flow
(1) Supplementary information to statement of cash flow
Unit: RMB
Amount as at this Amount as at
Supplementary information
period previous period
1. Net profit adjusted to cash flow of operation activities： -- --
Net profit 472,944,324.40 674,352,267.26
Add: assets impairment losses 2,035,800.38 52,354.65
Depreciation of fixed assets, consumption of oil assets and depreciation of productive
75,348,776.70 66,864,899.25
biology assets
Amortization of intangible assets 3,588,885.55 1,780,436.97
Amortization of long-term deferred expenses 1,789,687.15 962,867.88
Loss from disposal of fixed assets, intangible assets and other long-term assets(gain is
-1,833,344.49 -3,621,087.57
listed with “-”)
Loss of disposing fixed assets(gain is listed with “-”)
Loss from change of fair value(gain is listed with “-”)
Financial expenses (gain is listed with “-”) 5,095,769.31 10,794,754.04
Investment loss (gain is listed with “-”) -159,986,544.27 -293,611,064.62
Decrease of deferred income tax asset( (increase is listed with “-”) 1,599,807.36 -311,312.38
Increase of deferred income tax liability (decrease is listed with “-”) -55,516.50 -81,208.64
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无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Decrease of inventory (increase is listed with “-”) 72,815,025.96 61,219,465.39
Decrease of operating receivable accounts (increase is listed with “-”) 18,952,888.22 -465,428,613.24
Increase of operating payable accounts (decrease is listed with “-”) -54,660,012.25 829,630.20
Others
Net cash flow arising from operating activities 437,635,548.02 53,803,389.19
2. Material investment and financing not involved in cash flow -- --
Liabilities converted to capital
Convertible bond expire in 1 year
Fixed assets leased through financing
3. Net change of cash and cash equivalents: -- --
Balance of cash at period end 2,943,452,751.26 534,629,079.64
Less: Balance of cash at year-begin 745,778,764.22 465,219,784.67
Plus: Balance of cash equivalents at the period end
Less: Balance of cash equivalent at year-begin
Net increasing of cash and cash equivalents 2,197,673,987.04 69,409,294.97
(2) Relevant information about obtaining/disposal of subsidiary and other business unit in report period
Unit: RMB
Amount in this Amount in
Supplementary
period last period
I. Relevant information about obtaining subsidiary and other business units: -- --
1. Price of obtaining subsidiary and other business units
2. Cash and cash equivalent paid for obtaining subsidiary and other business units
Less: Cash and cash equivalent held by subsidiary and other business units
3. Net cash paid for obtaining subsidiary and other business unit
4. Net assets obtained from subsidiary 0.00 0.00
Current assets
Non-current assets
Current liability
Non-current liability
II. Relevant information about disposal of subsidiary and other business units: -- --
1. Price of disposal of subsidiary and other business units
2. Cash and cash equivalent received from disposal of subsidiary and other business units
Less: Cash and cash equivalent held by subsidiary and other business units
3. Net cash received from disposal of subsidiary and other business units
4. Disposal of net assets 0.00 0.00
Current assets
Non-current assets
Current liability
Non-current liability
(3) Constitution of cash and cash equivalent:
Unit: RMB
Balance as at Balance as at
Item
period-end period-begin
Ⅰ. Cash 2,943,452,751.26 745,778,764.22
Including: stock cash 584,048.80 425,963.50
Bank deposit available for payment at any time 2,942,868,702.46 745,352,800.72
128
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Other monetary fund available for payment at any time
Account available for payment that saving in central bank
account save interbank
account split interbank
Ⅱ. Cash equivalent
Including: bond investment matured within 3 months
Ⅲ. Balance of cash and cash equivalent at year-end 2,943,452,751.26 745,778,764.22
Explanation on constitution of cash and cash equivalent:
Nil
67. Notes of changes of owners’ equity
Explain the name and adjusted amount in “Other” at end of last period as well as the retroactive adjustment arising from enterprise
combination under same control:
Nil
(VIII) Accounting treatment of assets securitization
1. Explain the main exchange of assets securitization and its accounting treatment and provision of
bankruptcy-remote
2. Subject of special purpose without controlling rights on hand by actually bear the risks
Unit: RMB
Total assets at Total liability at Net assets at
Name Operating income Net profit Note
period-end period-end period-end
(IX) Related Parties and Transactions
1. Parent company of the Company
Unit: RMB
Proportio Proportio
n of n of
Orga
Registrat Legal shares voting Final
Parent Relationsh Business Registered Curren nizati
Nature ion represen held to right to controller of
company ip nature capital cy on
place tative the the the Company
code
Company Compan
(%) y (%)
Wuxi
State-owned
Wuxi Industry Controllin State-ow Operation Assets
Jiang 1360
Development g ned of 3,388,673, Supervision &
Wuxi Guoxion CNY 20% 20% 0265-
Group Co., shareholde exclusiv state-owne 241.46 Administratio
g 4
ltd. r ely d assets n Commission
of State
Council
Explanation on parent company of the enterprise
Wuxi Industry Development Group Co., Ltd was solely state-owned enterprise funded and established by Wuxi Municipal People’s
Government which mainly took responsibility of authorizing the state-owned assets operation within a certain areas, investment
management of significant project, investment and development of manufacturing and services and venture capital in high-tech
achievement
129
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
2. Subsidiary of the Company
Unit: RMB
Regis Proportio Proportio
Legal
Subsidiary of tratio Business Registered Curren n of n of Organizatio
Type Nature representativ
the Company n nature capital cy shares voting n code
e
place held (%) right (%)
Nanjing
Parts of
Weifu Controlling Limited Nanji
Chen Xuejun combustion 346,286,825.80 CNY 80% 80% 13497754-6
Jinning Co., subsidiary company ng
engine
Ltd
Weifu Lida
Tail,
Catalytic Controlling Limited
Wuxi Chen Xuejun Cleaner, 260,000,000.00 CNY 94.81% 94.81% 13600159-8
Purifier Co., subsidiary company
muffler
Ltd.
Weifu
Parts of
Mashan Fuel Controlling Limited Wang
Wuxi combustion 45,000,000.00 CNY 100% 100% 13625011-3
Injection subsidiary company Xiaodong
engine
Co., Ltd.
Weifu Parts of
Controlling Limited Wang
Chang’an Wuxi combustion 60,000,000.00 CNY 100% 100% 70354868-9
subsidiary company Xiaodong
Co., Ltd. engine
Jiangsu
Weifu Nano Controlling Limited Nano
Wuxi Xu Liangfei 30,000,000.00 CNY 80% 80% 74066428-3
Technology subsidiary company material
Co., Ltd.
Weifu Auto
Parts of
Diesel Controlling Limited
Wuxi Chen Xuejun combustion 300,000,000.00 CNY 100% 100% 76418029-1
System Co., subsidiary company
engine
Ltd.
Weifu
International Controlling Limited Gao Internationa
Wuxi 30,000,000.00 CNY 100% 100% 76103151-4
Trade Co., subsidiary company Guoyuan l Trade
Ltd.
Weifu ITM
Parts of
Pressure Controlling Limited
Wuxi Chen Xuejun combustion 160,000,000.00 CNY 100% 100% 72418270-0
Technology subsidiary company
engine
Co., Ltd
Weifu
Schmitter Parts of
Controlling Limited Gao
Power Wuxi combustion 18,000,000.00 CNY 45% 45% 69449050-9
subsidiary company Guoyuan
System Part engine
Co., ltd
Ningbo
Weifu Tianli Parts of
Controlling Limited Ningb
Pressure Chen Xuejun combustion 104,690,000.00 CNY 51% 51% 73424810-1
subsidiary company o
Technology engine
Co., Ltd.
Chaoyang
Weifu Jialin Parts of
Controlling Limited Chao
Machinery Xu Yunfeng combustion 8,000,000.00 CNY 51% 51% 78877120-5
subsidiary company yang
Manufacture engine
Co., Ltd.
Anhui Weifu
Parts of
Tianshi Controlling Limited Quanj
Chen Xuejun combustion 10,000,000.00 CNY 52% 52% 57301523-4
Machinery subsidiary company iao
engine
Co., Ltd
Kunming
Parts of
Xitong Controlling Limited Kunm
Xu Yunfeng combustion 4,000,000.00 CNY 70% 70% 77554741-5
Machinery subsidiary company ing
engine
Co., Ltd.
130
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
3. Details of joint-venture and affiliated enterprise of the Company
Unit: RMB
Proportion
Equity
of voting Total
proportion Total assets Total Total net Net profit
Invested Register Business Register rights in operation Relationshi Organizatio
Type Legal rep. Currency held by the at liability at assets at in this
company place nature capital invested revenue in p n code
Company period-end period-end period-end period
company this period
(%)
(%)
I.
Joint-ventu -- -- -- -- -- -- -- -- -- -- -- -- -- -- --
re
Weifu Limited
Autocam liability
Gao Automobil 10,000,00 166,654,44 28,569,254 138,085,19 77,768,958 11,734,814. Joint-ventu 77540714-
Precision company Wuxi USD 50% 50%
Guoyuan e parts 0.00 4.69 .26 0.43 .52 32 re 8
Machinery (joint-ventu
Corp. re)
Limited
Weifu
liability Joint-ventu
Environme 50,000,00 890,704,11 449,154,91 441,549,19 539,713,13 49,166,058 75969849-
company Wuxi Ou Jianbin Catalyst CNY 49% 49% re of
nt Catalysts 0.00 1.61 6.04 5.57 0.04 .97 1
(joint-ventu Weifu Lida
Co., Ltd
re)
II.
Affiliated -- -- -- -- -- -- -- -- -- -- -- -- -- -- --
enterprise
Affiliated
Accessorie
company ,
Bosch s and
company related
Automobil matching
limited BOHLER 200,000,0 4,926,822, 1,585,935, 3,340,887, 1,959,140, 202,429,56 company 60791796-
e Diesel Wuxi parts of USD 34% 34%
(joint-ventu KLAUS 00.00 915.13 351.09 564.04 528.29 1.46 of German 6
System internal
re) Robber
Co., Ltd combustion
Bosch Co.,
engine
Ltd.
Accessorie
Weifu
s and
Precision
matching
Machinery Limited Chen 12,000,00 286,245,68 121,830,32 164,415,36 126,569,19 14,678,290 Affiliated 73944370-
Wuxi parts of CNY 20% 20%
Manufactur company Haojun 0.00 8.10 6.21 1.89 9.54 .63 company 7
internal
ing Co.,
combustion
Ltd.
engine
131
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
4. Particulars about other related parties
other related parties Relationship Organization code
ROBERT BOSCH GMBH (German
Second largest shareholder of the Company
Robert Bosch Co., Ltd.)
Controlling subsidiary of ROBERT BOSCH GMBH (German Robert
BOSCH Corporation(Japan Bosch)
Bosch Co., Ltd.)
Controlling subsidiary of ROBERT BOSCH GMBH (German Robert
ROBERT BOSCH Ltd.(Brazil Bosch)
Bosch Co., Ltd.)
Explanation on other related parties:
ROBERT BOSCH GMBH (German Robert Bosch Co., Ltd.) holds 14% equity (95,227,600 shares) of the Company, a second largest
shareholder of the Company. BOSCH Corporation (Japan Bosch), ROBERT BOSCH Ltd. (Brazil Bosch) and Bosch Automobile
Diesel System Co., Ltd are the controlling subsidiary of ROBERT BOSCH GMBH (German Robert Bosch Co., Ltd.)
5. Related transaction
(1) Statement of commodity purchased and labor service received
Unit: RMB
Amount in this period Amount in last period
Pricing way and Ratio in Ratio in
Related party Content decision making similar similar
procedures Amount Amount
transactions transactio
(%) ns (%)
Weifu Precision Machinery Commodity
Market price 43,337,697.84 2.57% 79,086,892.83 4.02%
Manufacturing Co., Ltd. purchased
Bosch Automobile Diesel System Commodity
Market price 90,833,724.75 5.38% 158,644,675.14 8.06%
Co., Ltd purchased
Weifu Environment Catalysts Co., Commodity
Market price 303,607,465.07 17.97% 296,748,029.84 15.08%
Ltd purchased
Weifu Autocam Precision Commodity
Market price 4,763,341.25 0.28% 7,082,176.33 0.36%
Machinery Corp. purchased
Kunming Xitong (become as
Commodity
Controlling subsidiary after May Market price 862,689.61 0.04%
purchased
2011)
ROBERT BOSCH GMBH (German Commodity
Market price 23,895,768.70 1.41%
Robert Bosch Co., Ltd.) purchased
Commodity
BOSCH Corporation(Japan Bosch) Market price 1,060,552.01 0.06%
purchased
ROBERT BOSCH Ltd.(Brazil Commodity
Market price 1,364,598.27 0.08%
Bosch) purchased
Statement of commodity sales and labor service provided
Unit: RMB
Amount in this period Amount in last period
Pricing way and Ratio in Ratio in
Related party Content decision making similar similar
procedures Amount Amount
transactions transactio
(%) ns (%)
Weifu Precision Machinery Sales of
Market price 8,425,094.85 0.32% 14,091,722.76 0.43%
Manufacturing Co., Ltd. commodity
Bosch Automobile Diesel System Co., Sales of
Market price 137,990,850.23 5.26% 213,933,064.95 6.53%
Ltd commodity
Kunming Xitong (become as
Sales of
Controlling subsidiary after May Market price 37,758,298.74 1.15%
commodity
2011)
Sales of
Weifu Environment Catalysts Co., Ltd Market price 3,113,662.15 0.12% 7,366,631.98 0.22%
commodity
132
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Weifu Autocam Precision Machinery Sales of
Market price 1,739,173.37 0.07% 2,897,036.07 0.09%
Corp. commodity
ROBERT BOSCH GMBH (German Sales of
Market price 7,600,801.91 0.29%
Robert Bosch Co., Ltd.) commodity
Sales of
ROBERT BOSCH Ltd.(Brazil Bosch) Market price 526,248.88 0.02%
commodity
(2) Related trusteeship/contract
Statement of related trusteeship/contract
Unit: RMB
Entrusted Income
Assignee/co Entrusted Influence
Assigner/co /contract Starting Terminated Pricing recognized
ntract-out /contract Assts type from the
ntractor assets from dated basis in this
party assets income
amount period
Statement of entrusted management and contract
Unit: RMB
Entrusted Income
Assignee/co Entrusted Influence
Assigner/co /contract Starting Terminated Pricing recognized
ntract-out /contract Assts type from the
ntractor assets from dated basis in this
party assets income
amount period
Explanation on related truster ship and contract
Nil
(3) Related leasing
Leasing-out
Unit: RMB
Pricing Leasing
Leasing
Type of Leasing Amount for Starting Terminated basis for income
Lessor Lessee income
leasing asses leasing from dated leasing recognized
influence
income in period
Statement of leasing
Unit: RMB
Pricing Leasing
Leasing
Type of Leasing Amount for Starting Terminated basis for income
Lessor Lessee income
leasing asses leasing from dated leasing recognized
influence
income in period
Explanation on related leasing:
(4) Related guarantee
Unit: RMB
Whether guarantee
Guarantee provided Guarantee received Guarantee amount Starting from Terminated dated
implemented or not
Explanation on related leasing:
(5) Borrowed funds from related party
Unit: RMB
Related party Borrowed funds Starting from Terminated dated Note
Borrow-in
Borrow-out
133
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
(6) Assets transfer, debt restructure of related party
Unit: RMB
Amount in this period Amount in last period
Pricing way and Ratio in Ratio in
Related party Type Content decision-making similar similar
procedure Amount Amount
transactio transactio
ns (%) ns (%)
(7) Other related transactions
Item Related party Jan.-June 2012 Jan.-June 2011
Fixed assets purchased Bosch Automobile Diesel System Co., Ltd -- 59,615.38
Sales of fixed assets Weifu Precision Machinery Manufacturing Co., Ltd. -- 149,038.46
Use right payable of land Wuxi Industry Development Group Co., Ltd. 4,286,546.16 5,149,460.20
and trademark
Equity transfer expenses Wuxi Industry Development Group Co., Ltd. 206,289,000.00 --
paid
Technology service paid BOSCH Corporation(Japan Bosch) 370,980.92 --
Equity transfer expenses ROBERT BOSCH GMBH(German Robert Bosch Co. Ltd) 137,526,000.00 --
paid
payable Technology service ROBERT BOSCH GMBH(German Robert Bosch Co. Ltd) 9,635,945.94 --
Maintainance charge paid ROBERT BOSCH GMBH(German Robert Bosch Co. Ltd) 32,318.44 --
6. Account receivable/payable for related parties
Account receivable from related parties
Unit: RMB
Amount at Amount at
Item Related parties
period-end period-begin
Account receivable Bosch Automobile Diesel System Co., Ltd 38,956,876.52 38,105,143.26
Account receivable ROBERT BOSCH GMBH(German Robert Bosch Co. Ltd) 4,774,244.40
Account receivable Weifu Autocam Precision Machinery Corp. 374,563.26 428,635.54
Account receivable Weifu Environment Catalysts Co., Ltd 3,976,569.38 5,028,473.43
Account paid in advance ROBERT BOSCH GMBH(German Robert Bosch Co. Ltd) 67,840.00
Account paid in advance Weifu Environment Catalysts Co., Ltd 310,908.79
Account payable for related parties
Unit: RMB
Amount at Amount at
Item Related parties
period-end period-begin
Account payable Weifu Precision Machinery Manufacturing Co., Ltd. 22,001,240.00 19,339,630.87
Account payable Weifu Environment Catalysts Co., Ltd 212,084,881.62 143,789,625.61
Account payable Bosch Automobile Diesel System Co., Ltd 5,623,282.56 38,965,431.56
Account payable ROBERT BOSCH GMBH(German Robert Bosch Co. Ltd) 21,539,981.77
Account payable BOSCH Corporation(Japan Bosch) 759,974.20
Account payable ROBERT BOSCH Ltd. (Brazil Bosch) 280,715.93
Account payable Weifu Autocam Precision Machinery Corp. 3,180,027.09 4,631,125.40
Account received in
ROBERT BOSCH Ltd.(Brazil Bosch) 16,118.32
advance
Account received in
Weifu Precision Machinery Manufacturing Co., Ltd. 3,590,000.00
advance
(X) Share payment
1. General particular about share payment
Total vary equity instrument granted by the Company
134
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Total vary equity instrument vesting by the Company
Total vary equity instrument expired in this period
Price of exercise/option range for those shares offering outside in period-end and their remain term
in contract
Price of exercise for other equity instrument at period-end and their remains term in contract
Explanation on share payment
2. Share payment settled by equity
Unit: RMB
Determination method for fair value of equity instrument in granted dated
Determination method for best estimation of vesting equity instrument
Reasons of major difference in this period over estimation last period
Share payment accumulated by equity settlement in capital reserve
Total amount of share payment by equity settlement
Explanation on share payment settled by equity
3. Share payment settled by cash
Unit: RMB
Fair value determine method of liability that bear by the Company and calculated by share or other
equity instrument
Liability amount accumulated arising from cash payment in liabilities
Total expenses of shares payment settled by cash
Explanation on share payment settled by cash
4. Service payment for shares
Unit: RMB
Total staff service exchange by share payment
Total other service exchange by share payment
5. Particular about amendment of share payment and its termination
(XI) Contingent events
1. Contingent liability and its financial influence formed by un-settle lawsuits or arbitration
Nil
2. Contingent liability and its financial influence formed from debt guarantee offered to other units
Nil
Other contingent liability and its financial influence:
1. Bank saving 93,495,339.89 yuan was provided for issuing bank acceptance bill or credit margin
2. Receivable bank acceptance bill 111,993,338.06 yuan was pledge to the bank for issuing bank acceptance bill
(XII) Commitments
1. Material commitments
Nil
2. Commitments made previously
1. Privately shares offering
The privately share offering has been deliberated in 14th, 15th meeting of 6th session of the Board. In February 2012, pursuit to the
approval from CSRC, the Company privately offering RMB common share (A-share) 112,858,000 shares to Wuxi Industry Group
and German Robert Bosch Company.
2. The Company plans to change as a foreign-funded limited company according to the privately offering
Ended as 30 June 2012, the Company obtained the approval certificate of foreign-funded enterprise issued by Ministry of Commerce.
135
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Approval Serial: SWZZSZi[2012] No. 0009
3. Plans to acquire 1% equity of Bosch Diesel System held by German Bosch Company
According to the “equity transfer agreement of Bosch Automobile Diesel System Co., Ltd between Weifu High-Technology Group
and Robert Bosch Company (ROBERT BOSCH GMBH)”, the Company plans to acquire 1% equity of Bosch Diesel System held by
German Bosch Company(ROBERT BOSCH GMBH) with part of the raised-fund in privately offering. The equity transfer has
completed its registration of industry and comer ended as 30 June 2012.
4. Plans to acquire 1.5% equity of Bosch Automobile Diesel System Co., Ltd held by Wuxi Industry Development Group
According to the “equity transfer agreement of Bosch Automobile Diesel System Co., Ltd between Weifu High-Technology Group
and Wuxi Industry Development Group”, the Company plans to acquire 1.5% equity of Bosch Automobile Diesel System Co., Ltd
held by Wuxi Industry Development Group with part of the raised-fund in privately offering. The equity transfer has completed its
registration of industry and comer ended as 30 June 2012.
(XIII) Subsequent events of balance sheet
1. Explanation on major event after balance sheet date
Unit: RMB
Influence on financial status and
Item Content Reasons for no estimation on influence amount
operation results
2. Profit distribution after balance sheet date
Unit: RMB
Profit or dividend plans to distributed
Profit or dividend declare to distributed which has been approved 204,040,198.50
3. Other explanation after balance sheet date
Nil
(XIV) Other explanations on major event
1. Non-monetary asets exchange
Nil
2. Debt reorganization
Nil
3. Enterprise combination
Nil
4. Leasing
Nil
5. Financial instrument issued outside and convertible to shares in report period
Nil
6. Main content of annuity plan and major changes
Nil
7. Other events needs disclosure
Nil
(XV) Principle notes of financial statements of parent company
1. Accounts receivable
(1) Accounts receivable
Unit: RMB
Closing balance Opening balance
Book balance Bad debt reserves Book balance Bad debt reserves
Type Propo
Proportion Proporti Proportion
Amount rtion Amount Amount Amount
(%) on (%) (%)
(%)
single amount is large, and
accounts receivable of
6,919,976.11 1.1% 6,919,976.11 100% 6,919,976.11 0.83% 6,919,976.11 100%
single counting and
drawing bad debt reserves
counting and drawing accounts receivable of bad debt reserves by group
136
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Account receivable
withdrawal bad debt 395,595,224.62 62.91% 2,723,654.07 0.69% 509,026,479.48 60.87% 1,844,940.62 0.36%
provision by age group
Account receivable
withdrawal bad debt
221,256,966.52 35.18% 315,176,052.13 37.69%
provision by subsidiary
group
subtotal 616,852,191.14 98.09% 2,723,654.07 0.44% 824,202,531.61 98.56% 1,844,940.62 0.22%
though the single
amount is not large,
accounts receivable of
5,103,395.48 0.81% 5,103,395.48 100% 5,106,255.66 0.61% 5,106,255.66 100%
single counting and
drawing bad debt
reserves
13,871,172.3
Total 628,875,562.73 -- 14,747,025.66 -- 836,228,763.38 -- --
9
Explanation on types of accounts receivable:
Accounts receivable with over RMB 1 million of single amounts is accounts receivable of significant single amount. To accounts
receivable of significant single amount, provision for bad debts is still made by aging analysis method because no objective evidence
can manifest that Contingent depreciation will exceed provision for bad debts by aging analysis method. Account receivable from
subsidiaries is not withdrawal bad debt provision by the Company.
Terminal single amount is large, and accounts receivable of single counting and drawing bad debt reserves
√Applicable □Not Applicable
Unit: RMB
Withdrawal
Item of receivable
Book balance Bad debt ratio Reasons
Liuzhou Special Diesel Plant 1,612,018.00 1,612,018.00 100% The account was too old to collect
Shaoyang Shenfeng Power Manufacture Co., ltd 1,589,871.23 1,589,871.23 100% The account was too old to collect
Changchai Wanzhou Diesel Co., ltd 1,500,000.00 1,500,000.00 100% The account was too old to collect
Yuejin Light-Vehicle Co., Ltd. 1,218,086.88 1,218,086.88 100% The account was too old to collect
Henan Agricultural Machinery Co 1,000,000.00 1,000,000.00 100% The account was too old to collect
Total 6,919,976.11 6,919,976.11 -- --
In combination, counting and drawing accounts receivable of bad debt reserves by adopting aging of accounts
√Applicable □Not Applicable
Unit: RMB
Amount at period-end Amount at period-begin
Book balance Book balance
Ageing
Ratio Bad debt provision Ratio Bad debt provision
Amount Amount
(%) (%)
Within 1 year
Including: -- -- -- -- -- --
Within 6 months 387,569,414.62 97.97% 501,365,421.98 98.5%
6 months to1year 3,450,068.49 0.87% 345,006.85 4,876,407.60 0.96% 487,640.76
Subtotal of within 1 year 391,019,483.10 98.84% 345,006.85 506,241,829.58 99.46% 487,640.76
1-2 years 2,000,648.89 0.51% 400,129.78 209,433.24 0.04% 41,886.65
2-3 years 994,291.96 0.25% 397,716.78 2,099,672.42 0.41% 839,868.97
Over 3 years 1,580,800.66 0.4% 1,580,800.66 475,544.24 0.09% 475,544.24
3-4 years
4-5 years
Over 5 years
Total 395,595,224.62 -- 2,723,654.07 509,026,479.48 -- 1,844,940.62
137
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
In combination, counting and drawing accounts receivable of bad debt reserves by adopting balance percentage of
approach:
□Applicable √Not Applicable
In combination, counting and drawing accounts receivable of bad debt reserves by adopting other methods:
□Applicable √Not Applicable
Terminal single amount is not large, but accounts receivable of single counting and drawing bad debt reserves:
□Applicable √Not Applicable
Unit: RMB
bad debt counting and
accounts receivable book balance counting and drawing reasons
reserves drawing ratio
Hubei Duoling Power Machinery Co., Ltd 775,624.61 775,624.61 100% The account was too old to collect
Henan Xinxiang Internal Combustion Engine
753,754.25 753,754.25 100% The account was too old to collect
Plan
Yunnan Jinma Diesel General Plan 579,210.11 579,210.11 100% The account was too old to collect
Dongfeng Nanchong Automobile Co., Ltd 569,974.38 569,974.38 100% The account was too old to collect
Guangxi Liuzhou Zhongxin Engine Co., Ltd 474,895.94 474,895.94 100% The account was too old to collect
Zhejiang Agriculture Machinery Accessory
457,800.00 457,800.00 100% The account was too old to collect
Co., Ltd
Changchai Group Jintan Diesel General Plant 375,035.52 375,035.52 100% The account was too old to collect
Fujian Longma Agriculture-Vehicle
365,169.92 365,169.92 100% The account was too old to collect
Manufacture Co., Ltd
Other sporadic clients 751,930.75 751,930.75 100% The account was too old to collect
Total 5,103,395.48 5,103,395.48 100% --
(2) Accounts receivable switched back or taken back during the report period
Unit: RMB
switching back or taking
Basis for
reasons for switching back the counted or Amount switched back
Accounts receivable confirming bad
back or taking back drawn bad debt reserves or taken back
debt reserves
accumulated before
Total -- -- --
Terminal single amount is large, or not large, but counting and drawing bad debt reserves of accounts receivable by doing impairment
test alone:
bad debt Counting and
accounts receivable book balance Reasons
reserves drawing ratio (%)
Account receivable with single major amount and The account was too old
6,919,976.11 6,919,976.11 100%
withdrawal bad debt provision independently to collect
Account receivable with minor single amount but The account was too old
5,103,395.48 5,103,395.48 100%
withdrawal bad debt provision independently to collect
Total 12,023,371.59 12,023,371.59 -- --
Explanation on accounts receivable, the single amount of which is not large, but the credit risks are large after combining according
to the credit risks characters:
Account receivable with minor single amount has major risk after combination of credit risk characterizes, the age is too old to
recover
(3) Accounts receivable should be cancelled after verification during the report period
Unit: RMB
accounts receivable Whether caused by
Unit name Canceling time Canceling amount Canceling reasons
properties related transaction
138
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Total -- -- -- --
Explanation on cancellation of accounts receivable
(4) Shareholder units holding more than 5 %( Including 5%) voting shares of the Company in accounts
receivable during the report period
√Applicable □Not Applicable
Unit: RMB
Closing balance Opening balance
Unit name
book balance bad debt reserves book balance bad debt reserves
Bosch Automobile Diesel System Co., Ltd
31,874,902.46 0.00 38,064,343.06 0.00
（German Bosch 的 Controlling subsidiary）
Total 31,874,902.46 0.00 38,064,343.06 0.00
(5) Properties and contents of other accounts receivable with large amount
Nil
(6) Units with top five accounts receivable amount
Unit: RMB
Relationship with the Percentage in accounts
Unit name Amount Age limit
Company receivable amount (%)
Weifu Chang’an Subsidiary 109,325,221.32 Within 1 year 17.38%
Client 2 Client 61,869,270.18 Within 1 year 9.84%
Client 3 Client 60,446,663.84 Within 1 year 9.61%
Client 4 Client 59,633,479.37 Within 1 year 9.48%
Weifu Mashan Subsidiary 39,731,053.30 Within 1 year 6.32%
Total -- 331,005,688.01 -- 52.63%
(7) Accounts receivable of related party
Unit: RMB
Percentage in
Relationship with the
Unit name Amount accounts receivable
Company
amount (%)
Bosch Automobile Diesel System Co., Ltd Affiliated company 31,874,902.46 5.07%
Weifu Autocam Precision Machinery Corp. Joint-venture 374,563.26 0.06%
Weifu Environment Catalysts Co., Ltd Joint-venture 3,976,569.38 0.63%
Kunming Xitong Subsidiary 30,571,861.70 4.86%
Weifu Jialin Subsidiary 32,265,049.33 5.13%
Weifu Mashan Subsidiary 39,731,053.30 6.32%
Weifu Chang’an Subsidiary 109,325,221.32 17.38%
Weifu Tianshi Subsidiary 9,363,780.87 1.49%
Total -- 257,483,001.62 40.94%
139
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
(8)
Transferring amount is 0 Yuan for accounts receivable not conforming to terminate the confirmation.
(9) It is required to introduce the relevant transaction arrangement for asset securitization taking accounts
receivables as the standard
Nil
2. Other accounts receivable
(1) Other accounts receivable
Unit: RMB
Closing balance Opening balance
book balance bad debt reserves book balance bad debt reserves
Type
Ratio Ratio Ratio Ratio
Amount Amount Amount Amount
(%) (%) (%) (%)
single amount is large, and other
accounts receivable of single
2,000,000.00 0.52% 2,000,000.00 100% 2,000,000.00 1.17% 2,000,000.00 100%
counting and drawing bad debt
reserves
counting and drawing other accounts receivable of bad debt reserves by group
Other receivable withdrawal bad
1,339,123.82 0.34% 4,401,258.80 2.57%
debt provision by age group
Other receivable withdrawal bad
debt provision by subsidiary 382,358,789.05 98.52% 162,643,894.69 94.86%
group
subtotal 383,697,912.87 98.86% 167,045,153.49 97.43%
though the single amount is not
large, other accounts receivable
2,400,000.00 0.62% 2,400,000.00 100% 2,400,000.00 1.4% 2,400,000.00 100%
of single counting and drawing
bad debt reserves
Total 388,097,912.87 -- 4,400,000.00 -- 171,445,153.49 -- 4,400,000.00 --
Explanation on cancellation of accounts receivable
Other accounts receivable with over RMB 1 million of single amount is other receivables of significant single amount. To other
receivables of significant single amount, provision for bad debts is still made by aging analysis method because no objective
evidence can manifest that Contingent depreciation will exceed provision for bad debts by aging analysis method. Account receivable
from subsidiaries is not withdrawal bad debt provision by the Company.
Terminal single amount is large, and other accounts receivable of single counting and drawing bad debt reserves
√Applicable □Not Applicable
Unit: RMB
Other accounts counting and drawing
book balance bad debt reserves Reasons
receivable ratio
Jiangsu Techniques and The account was too old
2,000,000.00 2,000,000.00 100%
Technology Center to collect
Total 2,000,000.00 2,000,000.00 -- --
In combination, counting and drawing other accounts receivable of bad debt reserves by adopting aging of
accounts
√Applicable □Not Applicable
Unit: RMB
accounts Closing balance Opening balance
receivable age book balance bad debt reserves book balance bad debt reserves
140
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Amount Ratio (%) Amount Ratio (%)
Within one year
Including: -- -- -- -- -- --
Within 6 months 1,339,123.82 100% 4,401,258.80 100%
subtotal within
1,339,123.82 100% 4,401,258.80 100%
one year
1-2 years
2-3 years
over 3years
3-4 years
4-5 years
over 5 years
Total 1,339,123.82 -- 4,401,258.80 --
In combination, counting and drawing other accounts receivable of bad debt reserves by adopting balance percentage of approach:
□Applicable √Not Applicable
In combination, counting and drawing other accounts receivable of bad debt reserves by adopting other methods:
□Applicable √Not Applicable
Terminal single amount is not large, but other accounts receivable of single counting and drawing bad debt reserves:
□Applicable √Not Applicable
Unit: RMB
bad debt counting and
Other accounts receivable book balance Reasons
reserves drawing ratio
Nanjing University 600,000.00 600,000.00 100% The account was too old to collect
Southeast University 600,000.00 600,000.00 100% The account was too old to collect
Nanjing University of Science and
600,000.00 600,000.00 100% The account was too old to collect
Technology
Nanjing University of Technology 600,000.00 600,000.00 100% The account was too old to collect
Total 2,400,000.00 2,400,000.00 100% --
(2) Other accounts receivable switched back or taken back during the report period
Unit: RMB
switching back or taking
reasons for switching Basis for confirming bad back the counted or Amount switched back
Other accounts receivable
back or taking back debt reserves drawn bad debt reserves or taken back
accumulated before
Total -- -- --
Terminal single amount is large, or not large, but counting and drawing bad debt reserves of other accounts receivable by doing
impairment test alone:
Counting and
bad debt
accounts receivable book balance drawing ratio Reasons
reserves
(%)
Other receivable with single major amount and The account was too old
2,000,000.00 2,000,000.00 100%
withdrawal bad debt provision independently to collect
Other receivable with minor single amount but The account was too old
2,400,000.00 2,400,000.00 100%
withdrawal bad debt provision independently to collect
Total 4,400,000.00 4,400,000.00 -- --
Explanation on other accounts receivable, the single amount of which is not large, but the credit risks are large after combining
according to the credit risks characters:
Other receivable with minor single amount has major risk after combination of credit risk characterizes, the age is too old to recover
141
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
(3) Other accounts receivable should be cancelled after verification during the report period
Unit: RMB
Other accounts Whether caused by
Unit name Canceling time Canceling amount Canceling reasons
receivable properties related transaction
Total -- -- -- --
Explanation on cancellation of other accounts receivable
(4) Shareholder units holding more than 5% (Including 5%) voting shares of the Company in other
accounts receivable during the report period
√Applicable □Not Applicable
Unit: RMB
Amount at period-end Amount at period-begin
Name of the company Bad debt provision Bad debt provision
Book balance Book balance
accrual accrual
Total
(5) Properties and contents of other accounts receivable with large amount
Nil
(6) Units with top five other accounts receivable amount
Unit: RMB
Percentage in
Relationship with the
Unit name Amount Age limit accounts receivable
Company
amount (%)
Weifu Lida Subsidiary 370,915,177.38 1-2 years 95.58%
Weifu Schmitter Subsidiary 11,443,611.67 Within 1 year 2.95%
Jiangsu Techniques and Technology Center Non-related company 2,000,000.00 Over 3 years 0.52%
Nanjing University Non-related company 600,000.00 Over 3 years 0.15%
Southeast University Non-related company 600,000.00 Over 3 years 0.15%
Nanjing University of Science and Technology Non-related company 600,000.00 Over 3 years 0.15%
Nanjing University of Technology Non-related company 600,000.00 Over 3 years 0.15%
Total -- 386,758,789.05 -- 99.65%
(7) Other accounts receivable of related party
Unit: RMB
Percentage in accounts
Unit name Relationship with the Company Amount
receivable amount (%)
Weifu Lida Subsidiary 370,915,177.38 95.58%
Weifu Schmitter Subsidiary 11,443,611.67 2.95%
Total -- 382,358,789.05 98.53%
142
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
(8)
Transferring amount is 0 Yuan for other accounts receivable not conforming to terminate the confirmation.
(9) It is required to introduce the relevant transaction arrangement for asset securitization taking other
accounts receivables as the standard
Nil
3. Long-term equity investment
Unit: RMB
Description
of
Counting
Share inconformit
and
increase holding Vote y of share Cash
Calculati drawing
Invested Initial Opening and percenta percentage holding Impairment dividends at
ng Closing impairment
units investment balance decrease ge in in invested percentage reserves the current
methods balance reserves at
costs changes invested units (%) and vote period
the current
units (%) percentage
period
in invested
units
Weifu Cost 178,639,593.5 178,639,593. 98,595,318.
178,639,593.52 80% 80%
Jinning method 2 52 41
Cost 230,113,855.0 230,113,855.
Weifu Lida 230,113,855.00 94.81% 94.81%
method 0 00
Cost 24,000,000.0 1,500,000.0
Weifu Nano 24,000,000.00 24,000,000.00 80% 80%
method 0 0
Weifu
Cost 260,187,500.0 260,187,500. 159,929,78
Diesel 260,187,500.00 100% 100%
method 0 00 3.21
System
Weifu Cost 48,693,380.5
48,693,380.51 48,693,380.51 100% 100%
Mashan method 1
Weifu Cost 70,902,037.3
70,902,037.30 70,902,037.30 100% 100%
Chang’an method 0
Weifu
Cost 30,999,996.2
Internationa 30,999,996.22 30,999,996.22 100% 100%
method 2
l Trade
Cost 167,000,000.0 167,000,000.
Weifu ITM 167,000,000.00 100% 100%
method 0 00
Weifu Cost
8,100,000.00 8,100,000.00 8,100,000.00 45% 45%
Schmitter method
Weifu Cost 90,229,100.0
90,229,100.00 90,229,100.00 51% 51%
Tianli method 0
Cost
Weifu Jialin 4,685,868.73 4,685,868.73 4,685,868.73 51% 51%
method
Kunming Cost
5,471,793.17 5,471,793.17 5,471,793.17 70% 70%
Xitong method
Weifu Cost
5,200,000.00 5,200,000.00 5,200,000.00 52% 52%
Tianshi method
Weifu Equity 5,867,407. 70,547,033.3
37,842,087.00 64,679,626.18 50% 50%
Autocam method 16 4
Bosch
Equity 867,509,767.3 408,694,5 1,353,061,38
Diesel 944,366,786.20 32.5% 32.5%
method 7 99.38 5.58
System
Zhonglian
Automobile Equity 120,124,000.0 64,043,39 462,131,899.
398,088,504.09 20% 20%
Electronic method 0 5.79 88
Co., Ltd.
Weifu
Precision
Machinery Equity 3,013,238. 32,324,152.4
2,000,000.00 29,310,914.30 20% 20%
Manufactur method 10 0
ing Co.,
Ltd.
Guolian
Cost 12,000,000.0
Securities 12,000,000.00 12,000,000.00 1.2% 1.2%
method 0
Co., Ltd.
Guangxi
Cost 1,600,000.0
Liufa Co., 1,600,000.00 1,600,000.00 1,600,000.00 1.22% 1.22%
method 0
Ltd.
Financial Cost
800,000.00 800,000.00 800,000.00 800,000.00
Company method
143
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
of
Changchai
Group Co.,
Ltd.
H&J
Vanguard Cost 33,000,000.0 33,000,000.
33,000,000.00 33,000,000.00 11.72% 11.72%
Investment method 0 00
Co., Ltd.
Nanjing
Hengtai
Cost 1,000,000.0
Insurance 1,000,000.00 1,000,000.00 1,000,000.00 1.85% 1.85%
method 0
and Broker
Co., Ltd.
Jiangsu
HSBC
Cost
Insurance 500,000.00 500,000.00 500,000.00 10% 10% 500,000.00
method
Agents
Limited
Yangdong Cost 2,355,900.0
2,355,900.00 2,355,900.00 2,355,900.00
Co., Ltd. method 0
Wuxi
Xidong
Technologi Cost
5,000,000.00 5,000,000.00 5,000,000.00 1.43% 1.43%
cal Industry method
Park Co.,
Ltd.
2,207,954,878. 2,616,924,855. 481,618,6 3,098,543,49 40,755,900. 258,525,10
Total -- -- -- --
82 22 40.43 5.65 00 1.62
Explanation on long-term equity investment
1. Weifu Schmitter: Weifu Schmitter is a Sino-foreign joint venture jointly set up by the Company, Germany-based Schmitter Group
Aktiengesellschaft and Shanghai Weishi Automobile Technology Development Co., Ltd., which obtained the No. 320200400033433
Corporate Business License issued by Wuxi Administration for Industry and Commerce, Jiangsu Province on Sept. 17, 2009. The
registered capital of this company was RMB 18 million, where the Company invested RMB 8.10 million, representing 45% of the
registered capital; Germany-based Schmitter Group Aktiengesellschaft invested RMB 7.20 million, representing 40% of the
registered capital; Shanghai Weishi Automobile Technology Development Co., Ltd. invested RMB 2.70 million, representing 15% of
the registered capital. The RMB 2.70 million contributions from the Company during the year was the first contribution. The
Company was the first largest shareholder of this company and held majority of voting rights in its board of directors; therefore, the
Company consolidated it into the consolidated financial statements as a subsidiary since the date of its inception.
2. Kunming Xitong: According to the equity transfer agreement entered into between the Company and Kunming Jinlida Machinery
Co., Ltd., the company turns to controlling shareholders of the Company after 20% equity of Kunming Xitong held by Kunming
Jinlida Machinery Co., Ltd was transferred by the Company. The equity transfer amount RMB 1.4688 million was paid by the
Company.
3. Weifu Tianshi: a joint-venture set up by the Company and Anhui Quanchai Power Co., Ltd. with register capital of RMB 10
million. The Company invested RMB 5.2 million for 52% in total register capital.
4. Bosch Diesel System: According to the equity transfer agreement signed between the Company and Wuxi Industry Group, 1.5%
equity of Bosch Diesel System held by Wuxi Industry Group was transferred by the Company. Equity transferring amount 206.289
million yuan was paid by the Company. According to the equity transfer agreement signed between the Company and German
Robert Bosch Company, 1.00% equity of Bosch Diesel System held by German Robert Bosch Company was transferred by the
Company. Equity transferring amount 137.526 million yuan was paid by the Company.
4. Operating income and cost
(1) Operating income and cost
Unit: RMB
Item Amount in this period Amount in last period
Main operating income 993,599,313.59 1,337,063,029.97
Other operating income 154,616,691.60 235,081,357.28
Operating cost 939,317,265.51 1,276,037,593.43
Total 1,148,216,005.19 1,572,144,387.25
(2) Main business (according to industry)
√Applicable □Not Applicable
Unit: RMB
Industry Amount in this period Amount in last period
144
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Operating income Operating cost Operating income Operating cost
Automobile parts 993,599,313.59 791,876,975.87 1,337,063,029.97 1,058,760,908.36
Total 993,599,313.59 791,876,975.87 1,337,063,029.97 1,058,760,908.36
(3) Main business (according to product)
√Applicable □Not Applicable
Unit: RMB
Amount in this period Amount in last period
Product
Operating income Operating cost Operating income Operating cost
Auto fuel injection system 993,599,313.59 791,876,975.87 1,337,063,029.97 1,058,760,908.36
Total 993,599,313.59 791,876,975.87 1,337,063,029.97 1,058,760,908.36
(4) Main business (according to districts)
√Applicable □Not Applicable
Unit: RMB
Amount in this period Amount in last period
Districts
Operating income Operating cost Operating income Operating cost
Domestic sales 993,599,313.59 791,876,975.87 1,337,063,029.97 1,058,760,908.36
Total 993,599,313.59 791,876,975.87 1,337,063,029.97 1,058,760,908.36
(5) The operating income of the top five customers of the Company
Unit: RMB
Customer name Primary business income The percentage in all operating income of the Company (%)
Client 1 125,332,904.50 10.92%
Client 2 101,194,875.21 8.81%
Client 3 98,626,992.74 8.59%
Client 4 75,867,798.86 6.61%
Client 5 59,053,336.67 5.14%
Total 460,075,907.98 40.07%
Explanation on operating income
Nil
5. Investment income
(1) Particulars about investment income
Unit: RMB
Item Amount of this period Amount of last period
Income of long-term equity investment calculated based on cost 258,525,101.62
Income of long-term equity investment calculated based on equity 137,803,640.43 267,750,110.24
Investment income obtained from disposal of long-term equity investment
Investment income obtained during holding trading financial assets
Investment income obtained during held-to-maturity investment gaining
investment income
Investment income obtained during holding available-for-sale financial assets
Investment income obtained by handling trading financial assets
Investment income obtained from held-to-maturity investment
145
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Investment income obtained from available-for-sale financial assets 740,000.00
Others
Total 397,068,742.05 267,750,110.24
(2) Income of long-term equity investment calculated based on cost
Unit: RMB
Company name Amount of this period Amount of last period Reasons of change (+,-)
Weifu Diesel System 159,929,783.21 Earns in 2011 and has bonus in this year
Weifu Jinning 98,595,318.41 Earns in 2011 and has bonus in this year
Total 258,525,101.62 --
(3) Income of long-term equity investment calculated based on equity
Unit: RMB
Amount of the current Amount of the last
Company name Reasons for changes (+,-)
period period
Profit decline in this period due to
Bosch Diesel System 64,879,599.38 167,094,353.32
influence from auto industry
Zhonglian Automobile Electronic Co., Profit decline in this period due to
64,043,395.79 84,168,402.02
Ltd. influence from auto industry
Weifu Autocam Precision Machinery Profit decline in this period due to
5,867,407.16 10,063,876.73
Corp. influence from auto industry
Weifu Precision Machinery Profit decline in this period due to
3,013,238.10 6,699,134.95
Manufacture Co., Ltd. influence from auto industry
Reckoned into consolidation statement
Kunming Xitong -275,656.78
since May 2011
Total 137,803,640.43 267,750,110.24 --
Explanation on investment income:
Nil
6. Supplementary information of cash flow statement
Unit: RMB
Amount of the Amount of the
Supplementary information
current period last period
1. adjust the net profits to be cash flow for operating activities -- --
net profits 456,927,355.95 368,205,790.83
Add: assets impairment preparation 875,853.27 220,723.62
fixed assets depreciation, oil-and-gas assets loss , productive living beings depreciation 35,326,220.82 33,896,756.24
intangible assets amortization 1,967,691.85 335,106.84
long-term deferred expenses amortization
losses from handling fixed assets, intangible assets and assets(profits fill with “-“ ) 227,077.17 -3,438,904.83
loss on retirement of fixed assets(profits fill with “-“ )
fair value change loss(profits fill with “-“ )
financial costs(profits fill with “-“ ) 5,784,955.56 10,794,754.04
investment losses(profits fill with “-“) -397,068,742.05 -267,750,110.24
deferred income tax assets decrease(increases fill with “-“ ) -75,226.30 204,182.36
deferred income tax liabilities increase(decreases fill with “-“ )
stock decreases(increases fill with “-“ ) 69,007,232.15 -8,485,380.91
146
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
operating receivables decrease(increases fill with “-“ ) -222,038,705.84 -196,682,627.36
operating payables increase(decreases fill with “-“ ) 90,002,411.96 165,595,031.57
Others
cash flow net amount generated by operating activities 40,936,124.54 102,895,322.16
2. significant investment financial activities not involving and cash deposit and withdrawal -- --
debt turns to capital
convertible bonds due in one year
fixed assets financed by leasing
3. net changes of cash and cash equivalents -- --
ending balance of cash 2,277,349,549.16 172,794,728.14
decrease: opening balance of cash 132,135,416.49 85,169,165.70
increase: ending balance of cash equivalents
decrease: opening balance of cash equivalents
net increase of cash and cash equivalents 2,145,214,132.67 87,625,562.44
7. Assets and liabilities enter into the account book with assessed value by counter purchase
Unit: RMB
Assets and liabilities enter into the account book with
assessed value Original book value
assessed value
Assets
Liabilities
(XVI) Supplementary Information
1. REO and earnings per share
Unit: RMB
Weighted average Earnings per share
Profits during report period
ROE (%) Basic EPS diluted EPS
net profits belong to common stock stockholders of the Company 6.18% 0.69 0.69
net profits belong to common stock stockholders of the Company after
6.14% 0.69 0.69
deducting nonrecurring gains and losses
2. Abnormalities and reasons of the accounting statement items of the Company
Monetary funds: compared with the beginning of the year, an increase of 2.1818945 billion Yuan, 255.18% up at
the end of the reporting period. It mainly due to the funds which came from the non-public offering stock in this
year.
Prepayments: compared with the beginning of the year, a decrease of 69.8668 million Yuan, 38.09% down at the
end of the reporting period. It mainly due to the equipment which had been paid and the corresponding invoice
had been received.
Financial assets available for sale: compared with the beginning of the year, an increase of 290.08 million Yuan at
the end of the reporting period. It mainly due to the current subscribed shares of non-public offering stocks of
Shangchai.
Short-term borrowings: compared with the beginning of the year, a decrease of 495 million Yuan at the end of the
reporting period. It mainly due to the funds which came from current non-public offering stock, are used to
supplement the working capital, returned to bank.
147
无锡威孚高科技集团股份有限公司 2012 年半年度报告全文
Payable notes: compared with the beginning of the year, an increase of 63.1728 million Yuan, 38.45% up at the
end of the reporting period. It mainly due to the settlement business of Weifu Jinning payable notes.
Payable taxes: compared with the beginning of the year, a decrease of 56.8384 million Yuan, 73.12% down at the
end of the reporting period It mainly due to the remittance of the income tax of the previous year.
Payable dividends: compared with the beginning of the year, an increase of 255.2443 million Yuan at the end of
the reporting period. It mainly due to the approval of the bonus program by Meeting of shareholders of company
and was implemented in July.
Deferred tax liabilities: compared with the beginning of the year, an increase of 13.5753 million Yuan at the end of
the reporting period. It mainly due to the current subscribed shares of non-public offering stocks of Shangchai.
According to the fair value, determined by the closing price of Stock Exchange on June 30, 2012, the deferred tax
was confirmed.
Capital surplus: compared with the beginning of the year, an increase of 2.8145075 billion Yuan at the end of the
reporting period. It mainly due to the current non-public offering of stock and the increase of the share premium.
Selling expenses: compared with the same period of last year, an increase of 37.4121 million Yuan, 74.07% up at
the end of the reporting period. It mainly due to the growth of three packs cost.
Financial expenses: compared with the same period of last year, a decrease of 32.749 million Yuan, It mainly due
to repayment of bank borrowings, and the corresponding interest expense reduced; at the same time, because of
the increase of monetary funds, the interest income from bank deposits increased.
Investment income: compared with the same period of last year, a decrease of 133.6245 million Yuan. It mainly
due to the impact of automotive industry, the earnings of Bosch Diesel System and Zhonglian Automobile
Electronic Co., Ltd., declined compared to the same period of last year.
Income tax expenses: compared with the same period of last year, a decrease of 34.9486 million Yuan, 36.66%
down. It mainly due to the impact of automotive industry, the current earnings declined compared to the same
period of last year.
IX. Documents available for reference
File catalog for reference
1. Semi-annual reports with the president’s own signature; 2. Financial report with signature and
seal of legal representative, person in charge of financial works and accountant officer; 3. The
original manuscripts of all documents and announcements of the Company publicly disclosed on
China Securities Journal, Securities Times and Hong Kong Commercial Daily; 4. Article of
Association
Chairman of the Board: Chen Xuejun
Submit date approved by the board of directors: 27 August 2012
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