Weifu High-Technology Group Co., Ltd.
First Quarterly Report 2019
April 2019
无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
Section I. Important Notes
Board of Directors and the Supervisory Committee of Weifu High-Technology
Group Co., Ltd. (hereinafter referred to as the Company) and its directors,
supervisors and senior executives should guarantee the reality, accuracy and
completion of the quarterly report, there are no any fictitious statements,
misleading statements or important omissions carried in this report, and shall
take legal responsibilities, individual and/or joint.
All Directors are attended the Board Meeting for Quarterly Report deliberation
Chen Xuejun, Principal of the Company; Ou Jianbin, Person in Charge of
Accounting Works and Person in Charge of Accounting Organ (Accounting
Supervisor) hereby confirm that the Financial Report of the First Quarterly
Report is authentic, accurate and complete.
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无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
Section II. Company Profile
I. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data
□Yes √ No
Changes of this period over same
Current Period Same period of last year
period of last year
Operating income (RMB) 2,270,130,717.54 2,391,982,640.39 -5.09%
Net profit attributable to shareholders of the listed
689,179,364.60 784,228,178.43 -12.12%
company (RMB)
Net profit attributable to shareholders of the listed
company after deducting non-recurring gains and 613,343,723.80 691,598,799.43 -11.32%
losses (RMB)
Net cash flow arising from operating activities
145,409,651.46 86,416,705.11 68.27%
(RMB)
Basic earnings per share (RMB/Share) 0.68 0.78 -12.82%
Diluted earnings per share (RMB/Share) 0.68 0.78 -12.82%
Weighted average ROE 4.24% 5.15% -0.91%
Changes of this period-end over
End of this period End of last period
same period-end of last year
Total assets (RMB) 22,204,649,523.58 20,892,041,460.30 6.28%
Net assets attributable to shareholder of listed
16,603,398,152.41 15,913,828,778.82 4.33%
company (RMB)
Items of non-recurring gains and losses
√ Applicable □ Not applicable
In RMB
Amount from year-begin
Item Note
to period-end
Gains/losses from the disposal of non-current asset (including the write-off that accrued for
282,530.38
impairment of assets)
Governmental subsidy reckoned into current gains/losses (not including the subsidy
enjoyed in quota or ration according to national standards, which are closely relevant to 6,930,045.15
enterprise’s business)
Gain or loss on the investment or management of assets 30,329,829.15
Held transaction financial asset, gains/losses of changes of fair values from transaction
51,489,477.13
financial liabilities, and investment gains from disposal of transaction financial asset,
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无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
transaction financial liabilities and financial asset available for sales, exclude the effective
hedging business relevant with normal operations of the Company
Other non-operating income and expenditure except for the aforementioned items 872,909.01
Less: impact on income tax 13,629,395.27
Impact on minority shareholders’ equity (post-tax) 439,754.75
Total 75,835,640.80 --
Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Extraordinary Profit/loss, explain reasons
□ Applicable √ Not applicable
In reporting period, the Company has no particular about items defined as recurring profit (gain)/loss according to the lists of
extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to
the Public --- Extraordinary Profit/loss
II. Total number of shareholders at the end of this report period and top ten shareholders
1. Common and preferred stockholders with voting rights recover and the top ten share-holding
In Share
Total common shareholders at the end of Total preferred stockholders with voting rights
54,791 0
report period recover at the end of report period (if applicable)
Top ten shareholders
Amount of Number of share
Proportion Amount of restricted pledged/frozen
Nature of
Shareholder’s name of shares
shareholder shares held shares
held
State of share Amount
held
WUXI INDUSTRY DEVELOPMENT CROUP State-owned
20.22% 204,059,398
CO., LTD. legal person
Foreign legal
ROBERT BOSCH GMBH 14.16% 142,841,400
person
Foreign legal
HKSCC Nominees Limited 6.61% 66,672,353
person
Bank of Communication – HSBC Jixin Double
Other 1.91% 19,237,847
Core Strategy Mixed Securities Investment Fund
BBH BOS S/A FIDELITY FD - CHINA FOCUS Foreign legal
1.84% 18,530,315
FD person
China Life Insurance (Group) Company - bonus-
Other 1.56% 15,714,926
personal bonus-005L-FH002 SHEN
China Life Insurance (Group) Company - Other 1.47% 14,881,834
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无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
tradition - general insurance products-005L-CT00
1 SHEN
State-owned
Central Huijin Assets Management Co., Ltd. 1.27% 12,811,200
legal person
Investec Asset Management - Investec Global
Foreign legal
Strategy Fund - All-China Equity Fund 0.87% 8,772,392
person
(Exchange)
FIDELITY INVMT TRT FIDELITY INTL Foreign legal
0.61% 6,122,887
SMALL CAP FUND person
Top ten shareholders with unrestricted shares held
Amount of unrestricted Type of shares
Shareholder’s name
shares held Type Amount
WUXI INDUSTRY DEVELOPMENT CROUP CO., LTD. 204,059,398 RMB common share 204,059,398
RMB common share 115,260,600
ROBERT BOSCH GMBH 142,841,400
Domestically listed
27,580,800
foreign share
HKSCC Nominees Limited 66,672,353 RMB common share 66,672,353
Bank of Communication – HSBC Jixin Double Core Strategy
19,237,847 RMB common share 19,237,847
Mixed Securities Investment Fund
Domestically listed
BBH BOS S/A FIDELITY FD - CHINA FOCUS FD 18,530,315 18,530,315
foreign share
China Life Insurance (Group) Company - bonus- personal
15,714,926 RMB common share 15,714,926
bonus-005L-FH002 SHEN
China Life Insurance (Group) Company - tradition - general
14,881,834 RMB common share 14,881,834
insurance products-005L-CT00 1 SHEN
Central Huijin Assets Management Co., Ltd. 12,811,200 RMB common share 12,811,200
Investec Asset Management - Investec Global Strategy Fund -
8,772,392 RMB common share 8,772,392
All-China Equity Fund (Exchange)
FIDELITY INVMT TRT FIDELITY INTL SMALL CAP Domestically listed
6,122,887 6,122,887
FUND foreign share
Among the top ten shareholders, the Company knew there has no
associated relationship between Wuxi Industry Development
Note of related relationship among the above shareholders and Croup Co., Ltd., the first largest shareholder of the Company, and
concerted actors 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.
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无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a buy-back agreement
dealing in reporting period
□ Yes √ No
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company have no buy-back
agreement dealing in reporting period.
2. Total shareholders with preferred stock held at Period-end and shares held by top ten shareholders with
preferred stock held
□ Applicable √ Not applicable
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无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
Section III. Significant Events
I. Particulars about material changes in items of main accounting statement and financial
index and explanations of reasons
√ Applicable □ Not applicable
(I) Changes and reasons of items in balance sheet：
1. Ending balance of account receivable increased 696.2224 million yuan over that of last year with 36.27 percent
up, mainly because sales in the period is higher than the previous period;
2.Other account receivable in the period decreased 39.0745 million yuan with 46.20 percent down compared with
end of last year, mainly because of the assets disposal reimbursement from WFJN in the period.
3. Other current assets in the period has decreased 4592.244 million yuan compared with end of last year,
financial assets available-for-sale in the period has decreased 255.9752 million yuan compared with end of last
year, other equity instrument investment in the period has increased 87.0883 million yuan compared with end of
last year, other non-current financial assets in the period has increased 138.8 million yuan compared with end of
last year, mainly because the above mentioned items are re-classified due to the implementation of new
accounting rules for financial instrument;
4. Construction in progress in the period increased 42.9539 million yuan by comparing with end of last year with
25.81 percent up, mainly due to the increase of technical improvement equipment;
5. Short-term loans in the period increased 126.988 million yuan by comparing with end of last year with 42.48
percent up, mainly due to the increase of bank loans in the period;
6. Taxes payable in the period increased 64.382 million yuan by comparing with end of last year with 86.68
percent up, mainly because payable for income tax, VAT, urban construction tax and education surcharge
increased;
7. Deferred income tax liability in the period increased 7.6221 million yuan and 398.49 percent compared with
end of last year, mainly due to the increase of fair value from financial assets held for trading;
8. Ending balance of other comprehensive income in the period is re-classified to “Retained profit” according to
new accounting rules.
(II) Changes and reasons of items in profit and loss statement：
1.Taxes and surcharge in the period increased 4.898 million yuan from a year earlier with 30.38 percent up,
mainly because payable for urban construction tax and education surcharge increased;
2. Financial expenses in the period decreased 19,531,700 yuan from a year earlier, mainly because interest income
increase;
3. Investment income in the period decreased 162,091,550 yuan from a year earlier with 26.71 percent down,
mainly because income from share-participated enterprise declined
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无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
(III) Changes and reasons of items in cash flow statement：
1. Net cash flow arising from operation activity in the period increased 58.9929 million yuan from a year earlier
with 68.27 percent up, mainly because expenditure for purchasing declined on a y-o-y basis and the interest
income increased from a year earlier;
2. Net cash flow arising from investment activity: decreased out-flow of 1824.5962 million yuan from a year
earlier, mainly because financial products purchased in the period and collection of financial products on due
declined on a y-o-y basis;
3.Net cash flow arising from financing activity: increased 41.0633 million yuan from a year earlier with 50.68
percent up, mainly because bank loans in the period increased and borrowing paid to the bank in the period
declined
II. Analysis and explanation of significant events and their influence and solutions
√ Applicable □ Not applicable
(i) Parts of the joint-stock enterprise’s equity held by the Company freeze
1. On 6 March 2017, the Company received a legal documents mail from Shenzhen Intermediate people’s Court
in Guangdong Province (hereinafter referred to as Shenzhen Intermediate Court). Pursuit to the legal documents,
the plaintiff- China Cinda Asset Management Co., Ltd. Shenzhen Branch bring a suit against eight defendants (the
Company included) and the third party-Shenzhen Hejun Venture Holding Co., Ltd. (“Hejun Company” for short)
for damaged the interests of corporate creditors, totally two cases for suits. Shenzhen Intermediate Court accepted
the case and issued the Civil Order of (2016) Yue 03 MC No.2490 and (2016) Yue 03 MC No. 2492, that is, the
property under the name of eight defendants are being seal up, detain or freeze-up, totally amounted as 217
million Yuan. Ended as the reporting period, the 4.71 million shares of Miracle and 11,739,102 shares of SDEC
held by the Company are being freeze-up. First trial are carried on 24 September 2017, and further session to be
advised from the Court.
2. The company has applied to Futian People's Court of Shenzhen for compulsory liquidation with Hejun
Company. A Civil Ruling Paper is carried by Futian People's Court of Shenzhen (2017) Yue 0304 QS No.5, that is:
implemented compulsory liquidation on Hejun Company. The Company will fully engage with the Court for
relevant liquidation works completed, guarantee legitimate interest of the Company.
(ii) In accordance with the resolution of 4th session of 9th BOD held on 26 March 2019, the Company plans to
establish a wholly-owned subsidiary SPV Company in Denmark. Acquired the 66.00% equity of IRD Fuel Cells
A/S (“IRD” for short) in Denmark held by FCCT ApS. Company with EUR 7.26 million by conversion (value of
assessment for IRD as EUR 11 million). Benefit from the controlling of IRD by equity procurement, the Company
will enter the field of fuel cell core components quickly, and enhancing the competitiveness of Companies in
emerging market; the evens are in line with the development strategy of the Company, lay a sound foundation for
sustainable, rapid and healthy development of the Company, as well as transformation and upgrading. Relevant
works are progressing smoothly.
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无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
Overview Disclosure date Query index for interim notice
(Notice No. 2017-002) Published on Juchao
2017-03-08
Parts of the joint-stock enterprise’s equity held by the Company Website (www.cninfo.com.cn)
freeze
(Notice No. 2017-023) Published on Juchao
2017-12-06
Website (www.cninfo.com.cn)
The Company plans to establish a wholly-owned subsidiary SPV
Company in Denmark. Acquired the 66.00% equity of IRD Fuel (Notice No. 2019-003) Published on Juchao
2019-03-28
Cells A/S (“IRD” for short) in Denmark held by FCCT ApS. Website (www.cninfo.com.cn)
Company
Implementation progress of shares buy-back
□ Applicable √ Not applicable
Implementation progress of the reduction of repurchases shares by centralized bidding
□ Applicable √ Not applicable
III. Commitments non-performance over due in reporting period from committed parties as
actual controller, shareholders, related party, acquirer and the Company
□Applicable √Not applicable
No the above mentioned commitment occurred in the period.
IV. Predict of the business performance from January to June 2019
Warnings and reasons of the predict that the cumulative net profit from the begin of the year to the end of next report period may be
loss or have great changes comparing with the same period of last year
□Applicable √Not applicable
V. Securities Investment
√ Applicable □ Not applicable
Book Profit
Short Account Current Cumulati Curr Book
Variety Initial value at and loss Capit
Code of form ing gain/loss ve fair Current ent value at
of invest the in the Accountin al
securiti of measure of fair value purchase sales the end
securitie ment beginnin Reporti g subject Sourc
es securit ment value changes amount amo of the
s cost g of the ng e
ies model changes in equity unt period
period Period
Domesti Transactio
199,20 Measure
c and 85,458,4 35,456,148 35,456, 120,914, nal Own
600841 SDEC 8,000.0 d by fair
foreign 08.00 .00 148.00 556.00 financial funds
0 value
stocks assets
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无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
Domesti Miracl Transactio
Measure
c and e 69,331, 35,607,6 15,543,000 15,543, 51,150,6 nal Own
002009 d by fair
foreign Logisti 500.00 00.00 .00 000.00 00.00 financial funds
value
stocks cs assets
268,53
121,066, 50,999,148 50,999, 172,065,
Total 9,500.0 -- 0.00 0.00 -- --
008.00 .00 148.00 156.00
0
Disclosure date of 2012-03-24
securities investment
approval by the Board 2013-06-04
VI. Derivative investment
□ Applicable √ Not applicable
No derivative investment in the Period.
VII. Registration form for receiving research, communication and interview in the report
period
√ Applicable □ Not applicable
Type of
Date Method Index for the interview and research
investors
1 Jan. 2019 to 31 Telephone The Company answered 35 questions for investors online through the
Other
Mar. 2019 communication investor relations interactive platform(http://irm.p5w.net/dqhd/sichuan/)
1 Jan. 2019 to 31 Basic condition of the Company and views on market, communication with
Written inquiries Other
Mar. 2019 investors by telephone more than 50
VIII. External security against the rules
□ Applicable √ Not applicable
The Company has no external security against the rules in the Period
IX. Controlling shareholders' and its related party's non-business capital occupying of the
listed company
□ Applicable √ Not applicable
There are no controlling shareholders' and its related party's non-business capital occupying of the listed company.
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无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
Section IV. Financial Statement
I. Financial statement
1. Consolidate balance sheet
Prepared by Weifu High-Technology Group Co., Ltd
2019-03-31
In RMB
Items 2019-3-31 2018-12-31
Current assets:
Monetary fund 2,819,804,525.07 2,616,321,740.73
Settlement provisions
Capital lent
Transactional financial assets 4,673,772,755.43
Financial assets measured by fair value and with variation reckoned
into current gains/losses
Derivative financial assets
Note receivable and account receivable 3,790,836,367.98 3,067,900,870.59
Including: Notes receivable 1,174,820,713.33 1,148,107,603.68
Accounts receivable 2,616,015,654.65 1,919,793,266.91
Account paid in advance 111,958,055.15 94,651,431.31
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance receivable
Other account receivable 45,507,695.08 84,582,246.16
Including: Interest receivable 1,125,062.50 1,842,437.50
Dividends receivable
Buying back the sale of financial assets
Inventories 1,359,512,749.81 1,438,528,714.59
Contractual assets
Assets held for sale
Non-current assets maturing within one year
Other current assets 39,893,615.34 4,632,137,600.26
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无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
Total current assets 12,841,285,763.86 11,934,122,603.64
Non-current assets:
Loans and payments on behalf
Debt investment
Available-for-sale financial assets 255,975,176.91
Other debt investment
Held-to-maturity investments
Long-term receivables
Long-term equity investments 5,391,190,657.28 4,976,773,946.74
Investment in other equity instrument 87,088,272.91
Other non-current financial assets 138,800,000.00
Investment real estate 21,518,950.44 21,906,134.52
Fixed assets 2,673,979,017.43 2,707,374,678.61
Construction in progress 209,368,449.48 166,414,542.18
Productive biological assets
Oil and natural gas assets
Right-of-use assets
Intangible assets 321,620,719.34 324,892,822.75
Research and development costs
Goodwill 1,784,086.79 1,784,086.79
Long-term deferred expenses 16,199,658.08 16,637,652.31
Deferred income tax assets 229,799,755.01 234,697,139.58
Other non-current assets 272,014,192.96 251,462,676.27
Total non-current assets 9,363,363,759.72 8,957,918,856.66
Total assets 22,204,649,523.58 20,892,041,460.30
Current liabilities
Short-term borrowings 425,916,205.33 298,928,213.94
Loan from central bank
Capital borrowed
Transactional financial liability
Financial liability measured by fair value and with variation reckoned
into current gains/losses
Derivative financial liability 490,329.13
Notes payable & account payable 3,517,146,498.22 3,065,704,368.40
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无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
Accounts received in advance 37,143,511.92 41,329,857.80
Selling financial asset of repurchase
Absorbing deposit and interbank deposits
Agent buying and selling securities
Acting underwriting securities
Wage payable 275,428,214.03 312,113,178.24
Taxes payable 138,653,599.45 74,271,613.92
Other accounts payable 64,813,370.51 64,448,723.52
Including: Interest payable 650,630.20 517,469.08
Dividend payable
Handling fees and commissions payable
Reinsurance payable
Contractual liability
Liability held for sale
Non-current liabilities due within one year 15,000,000.00 15,000,000.00
Other current liabilities
Total current liabilities 4,474,101,399.46 3,872,286,284.95
Non-current liabilities:
Insurance contract reserve
Long-term loans 30,000,000.00 30,000,000.00
Bonds payable
Including: preferred stock
Perpetual capital securities
Lease liability
Long-term account payable 110,101,529.47 110,101,529.47
Long term employee compensation payable
Accrued liabilities
Deferred income 428,705,365.98 425,769,854.13
Deferred income tax liabilities 9,534,858.36 1,912,744.40
Other non-current liabilities
Total non-current liabilities 578,341,753.81 567,784,128.00
Total liabilities 5,052,443,153.27 4,440,070,412.95
Owners’ equity:
Share capital 1,008,950,570.00 1,008,950,570.00
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无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
Other equity instrument
Including: preferred stock
Perpetual capital securities
Capital public reserve 3,416,022,795.14 3,416,022,795.14
Less: Inventory shares
Other comprehensive income -19,809,442.95
Special reserve 2,008,499.49 1,618,490.50
Surplus reserve 510,100,496.00 510,100,496.00
Provision of general risk
Retained profit 11,666,315,791.78 10,996,945,870.13
Total owner’s equity attributable to parent Company 16,603,398,152.41 15,913,828,778.82
Minority interests 548,808,217.90 538,142,268.53
Total owner’s equity 17,152,206,370.31 16,451,971,047.35
Total liabilities and owner’s equity 22,204,649,523.58 20,892,041,460.30
Legal Representative: Chen Xuejun Person in charge of accounting works: Ou Jianbin
Person in charge of accounting institute: Ou Jianbin
2. Balance Sheet of Parent Company
In RMB
Items 2019-3-31 2018-12-31
Current assets:
Monetary fund 2,399,590,678.94 1,922,408,227.00
Transactional financial assets 4,373,772,755.43
Financial assets measured by fair value and with variation reckoned
into current gains/losses
Derivative financial assets
Note receivable and account receivable 1,261,431,368.90 1,006,511,198.29
Including: Notes receivable 204,814,248.31 264,264,207.30
Accounts receivable 1,056,617,120.59 742,246,990.99
Account paid in advance 72,185,672.93 59,028,927.25
Other account receivable 220,576,834.81 196,849,092.13
Including: Interest receivable 191,027.23 188,682.78
Dividends receivable
Inventories 403,449,067.17 492,054,274.67
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无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
Contractual assets
Assets held for sale
Non-current assets maturing within one year
Other current assets 9,248,001.45 4,576,688,553.49
Total current assets 8,740,254,379.63 8,253,540,272.83
Non-current assets:
Debt investment
Available-for-sale financial assets 180,035,176.91
Other debt investment
Held-to-maturity investments
Long-term receivables
Long-term equity investments 6,131,154,654.18 5,739,110,426.55
Investment in other equity instrument 11,148,272.91
Other non-current financial assets 138,800,000.00
Investment real estate
Fixed assets 1,496,344,271.91 1,534,109,106.80
Construction in progress 145,592,804.37 78,673,300.59
Productive biological assets
Oil and natural gas assets
Right-of-use assets
Intangible assets 186,457,984.43 188,101,655.94
Research and development costs
Goodwill
Long-term deferred expenses
Deferred income tax assets 135,371,042.80 140,286,756.70
Other non-current assets 176,109,042.29 184,208,090.40
Total non-current assets 8,420,978,072.89 8,044,524,513.89
Total assets 17,161,232,452.52 16,298,064,786.72
Current liabilities
Short-term borrowings 212,000,000.00 112,000,000.00
Transactional financial liability
Financial liability measured by fair value and with variation reckoned
into current gains/losses
Derivative financial liability
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无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
Notes payable & account payable 1,221,543,050.15 1,154,238,521.88
Accounts received in advance 7,093,176.71 6,639,554.63
Contractual liability
Wage payable 187,865,021.54 200,205,508.25
Taxes payable 80,444,276.77 39,193,425.15
Other accounts payable 34,440,483.03 12,142,596.68
Including: Interest payable 283,127.78 149,966.66
Dividend payable
Liability held for sale
Non-current liabilities due within one year
Other current liabilities
Total current liabilities 1,743,386,008.20 1,524,419,606.59
Non-current liabilities:
Long-term loans
Bonds payable
Including: preferred stock
Perpetual capital securities
Lease liability
Long-term account payable 63,962,762.93 63,962,762.93
Long term employee compensation payable
Accrued liabilities
Deferred income 375,938,170.55 381,609,056.40
Deferred income tax liabilities 7,649,872.20
Other non-current liabilities
Total non-current liabilities 447,550,805.68 445,571,819.33
Total liabilities 2,190,936,813.88 1,969,991,425.92
Owners’ equity:
Share capital 1,008,950,570.00 1,008,950,570.00
Other equity instrument
Including: preferred stock
Perpetual capital securities
Capital public reserve 3,488,221,286.39 3,488,221,286.39
Less: Inventory shares
Other comprehensive income -19,809,442.95
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无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
Special reserve
Surplus reserve 510,100,496.00 510,100,496.00
Retained profit 9,963,023,286.25 9,340,610,451.36
Total owner’s equity 14,970,295,638.64 14,328,073,360.80
Total liabilities and owner’s equity 17,161,232,452.52 16,298,064,786.72
3. Consolidated Profit Statement
In RMB
Items Current Period Last Period
I. Total operating income 2,270,130,717.54 2,391,982,640.39
Including: Operating income 2,270,130,717.54 2,391,982,640.39
Interest income
Insurance gained
Handling fees and commissions income
II. Total operating cost 2,020,627,883.33 2,151,266,982.24
Including: Operating cost 1,746,327,754.45 1,875,352,869.67
Interest expense
Handling fees and commissions expenses
Cash surrender value
Net amount of expense of compensation
Net amount of withdrawal of insurance contract reserve
Bonus expense of guarantee slip
Reinsurance expense
Taxes and surcharge 21,018,470.72 16,120,507.10
Sales expenses 43,843,484.79 50,463,484.87
Administration expenses 128,655,184.37 121,047,812.20
R&D expenses 93,170,038.27 83,458,614.89
Financial expenses -15,352,238.79 4,179,488.75
Including: interest expenses 5,031,995.88 3,915,165.94
Interest income 34,388,087.21 5,586,446.40
Losses of devaluation of asset 226,739.06 644,204.76
Loss of credit impairment 2,738,450.46
Add: other income 6,930,045.15 5,921,558.08
Investment income (Loss is listed with “-”) 444,746,539.69 606,842,043.19
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无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
Including: Investment income on affiliated Company and joint
414,416,710.54 503,834,064.46
venture
Exchange income (Loss is listed with “-”)
Net exposure hedging income (Loss is listed with “-”)
Changing income of fair value(Loss is listed with “-”) 51,489,477.13
Income on disposal of assets (Loss is listed with “-”) 322,246.23 118,457.72
III. Operating profit (Loss is listed with “-”) 752,991,142.41 853,597,717.14
Add: Non-operating income 890,398.10 256,470.01
Less: Non-operating expense 76,964.94 305,583.02
IV. Total Profit (Loss is listed with “-”) 753,804,575.57 853,548,604.13
Less: Income tax 54,077,711.23 49,820,490.98
V. Net profit (Net loss is listed with “-”) 699,726,864.34 803,728,113.15
(i) Classify by business continuity
1.continuous operating net profit (net loss listed with ‘-”) 699,726,864.34 803,728,113.15
2.termination of net profit (net loss listed with ‘-”)
(ii) Classify by ownership
1.Net profit attributable to owner’s of parent company 689,179,364.60 784,228,178.43
2.Minority shareholders’ gains and losses 10,547,499.74 19,499,934.72
VI. Net after-tax of other comprehensive income -2,823,615.00
Net after-tax of other comprehensive income attributable to owners of
-2,823,615.00
parent company
(I) Other comprehensive income items which will not be reclassified
subsequently to profit of loss
1.Changes of the defined benefit plans that re-measured
2.Other comprehensive income under equity method that cannot be
transfer to gain/loss
3.Change of fair value of investment in other equity instrument
4.Fair value change of enterprise's credit risk
5. Other
(II) Other comprehensive income items which will be reclassified
-2,823,615.00
subsequently to profit or loss
1.Other comprehensive income under equity method that can
transfer to gain/loss
2.Change of fair value of other debt investment
3.gain/loss of fair value changes for available-for-sale financial
-2,823,615.00
assets
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无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
4.Amount of financial assets re-classify to other comprehensive
income
5.Gain/loss of held-to-maturity investments that re-classify to
available-for-sale financial asset
6.Credit impairment provision for other debt investment
7.Cash flow hedging reserve
8.Translation differences arising on translation of foreign currency
financial statements
9.Other
Net after-tax of other comprehensive income attributable to minority
shareholders
VII. Total comprehensive income 699,726,864.34 800,904,498.15
Total comprehensive income attributable to owners of parent Company 689,179,364.60 781,404,563.43
Total comprehensive income attributable to minority shareholders 10,547,499.74 19,499,934.72
VIII. Earnings per share:
(i) Basic earnings per share 0.68 0.78
(ii) Diluted earnings per share 0.68 0.78
Enterprise combine under the same control in the Period, the combined party realized net profit of 0 Yuan before combination, and
realized 0 Yuan at last period for combined party
Legal Representative: Chen Xuejun Person in charge of accounting works: Ou Jianbin
Person in charge of accounting institute: Ou Jianbin
4. Profit Statement of Parent Company
In RMB
Items Current Period Last Period
I. Operating income 1,122,808,498.34 1,134,852,459.84
Less: Operating cost 793,922,520.33 844,533,166.42
Taxes and surcharge 11,619,619.40 9,752,319.83
Sales expenses 6,247,098.90 7,595,353.42
Administration expenses 80,788,693.43 76,744,563.98
R&D expenses 41,370,653.59 33,785,591.68
Financial expenses -25,004,325.60 1,279,757.72
Including: interest expenses 2,304,661.14 1,448,269.43
Interest income 32,541,171.02 4,116,968.36
Losses of devaluation of asset -112,041.54
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无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
Loss of credit impairment 799,513.06
Add: other income 5,670,885.85 5,916,558.08
Investment income (Loss is listed with “-”) 422,374,056.78 568,184,522.70
Including: Investment income on affiliated Company and
392,044,227.63 465,176,543.97
joint venture
Net exposure hedging income (Loss is listed with “-”)
Changing income of fair value(Loss is listed with “-”) 50,999,148.00
Income on disposal of assets (Loss is listed with “-”) 45,211.75 103,477.02
II. Operating profit (Loss is listed with “-”) 692,154,027.61 735,478,306.13
Add: Non-operating income 8,950.00 17,250.00
Less: Non-operating expense 8,439.26 204,017.14
III. Total Profit (Loss is listed with “-”) 692,154,538.35 735,291,538.99
Less: Income tax 49,932,260.51 40,018,156.02
IV. Net profit (Net loss is listed with “-”) 642,222,277.84 695,273,382.97
(i)continuous operating net profit (net loss listed with ‘-”) 642,222,277.84 695,273,382.97
(ii) termination of net profit (net loss listed with ‘-”)
V. Net after-tax of other comprehensive income -2,823,615.00
(I) Other comprehensive income items which will not be
reclassified subsequently to profit of loss
1.Changes of the defined benefit plans that re-measured
2.Other comprehensive income under equity method that cannot
be transfer to gain/loss
3.Change of fair value of investment in other equity instrument
4.Fair value change of enterprise's credit risk
5. Other
(II) Other comprehensive income items which will be reclassified
-2,823,615.00
subsequently to profit or loss
1.Other comprehensive income under equity method that can
transfer to gain/loss
2.Change of fair value of other debt investment
3.gain/loss of fair value changes for available-for-sale financial
-2,823,615.00
assets
4.Amount of financial assets re-classify to other comprehensive
income
5.Gain/loss of held-to-maturity investments that re-classify to
available-for-sale financial asset
20
无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
6.Credit impairment provision for other debt investment
7.Cash flow hedging reserve
8.Translation differences arising on translation of foreign
currency financial statements
9.Other
VI. Total comprehensive income 642,222,277.84 692,449,767.97
VII. Earnings per share:
(i) Basic earnings per share
(ii) Diluted earnings per share
5. Consolidated Cash Flow Statement
In RMB
Items Current Period Last Period
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing labor
1,753,285,131.27 2,229,870,777.53
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 amount from disposal financial assets that
measured by fair value and with variation reckoned into current
gains/losses
Cash received from interest, commission charge and
commission
Net increase of capital borrowed
Net increase of returned business capital
Net cash received by agents in sale and purchase of securities
Write-back of tax received 12,709,755.40 15,624,865.23
Other cash received concerning operating activities 44,905,581.72 5,834,119.83
Subtotal of cash inflow arising from operating activities 1,810,900,468.39 2,251,329,762.59
Cash paid for purchasing commodities and receiving labor
1,101,665,565.51 1,618,207,541.31
service
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无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
Net increase of customer loans and advances
Net increase of deposits in central bank and interbank
Cash paid for original insurance contract compensation
Net increase of financial assets held for transaction purposes
Net increase of capital lent
Cash paid for interest, commission charge and commission
Cash paid for bonus of guarantee slip
Cash paid to/for staff and workers 336,754,911.79 344,325,314.81
Taxes paid 112,637,267.48 107,621,270.28
Other cash paid concerning operating activities 114,433,072.15 94,758,931.08
Subtotal of cash outflow arising from operating activities 1,665,490,816.93 2,164,913,057.48
Net cash flows arising from operating activities 145,409,651.46 86,416,705.11
II. Cash flows arising from investing activities:
Cash received from recovering investment 1,483,000,000.00 2,845,527,612.00
Cash received from investment income 30,329,829.15 103,007,978.73
Net cash received from disposal of fixed, intangible and other
68,596,607.33 452,562.97
long-term assets
Net cash received from disposal of subsidiaries and other units
Other cash received concerning investing activities
Subtotal of cash inflow from investing activities 1,581,926,436.48 2,948,988,153.70
Cash paid for purchasing fixed, intangible and other long-term
98,025,965.78 171,913,851.27
assets
Cash paid for investment 1,378,800,000.00 4,520,570,000.00
Net increase of mortgaged loans
Net cash received from subsidiaries and other units obtained
Other cash paid concerning investing activities 24,000,000.00
Subtotal of cash outflow from investing activities 1,500,825,965.78 4,692,483,851.27
Net cash flows arising from investing activities 81,100,470.70 -1,743,495,697.57
III. Cash flows arising from financing activities
Cash received from absorbing investment
Including: Cash received from absorbing minority
shareholders’ investment by subsidiaries
Cash received from loans 219,585,661.41 190,000,000.00
Cash received from issuing bonds
Other cash received concerning financing activities 5,470,000.00
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无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
Subtotal of cash inflow from financing activities 219,585,661.41 195,470,000.00
Cash paid for settling debts 92,597,670.02 111,000,000.00
Cash paid for dividend and profit distributing or interest
4,896,490.31 3,441,771.85
paying
Including: Dividend and profit of minority shareholder paid by
subsidiaries
Other cash paid concerning financing activities
Subtotal of cash outflow from financing activities 97,494,160.33 114,441,771.85
Net cash flows arising from financing activities 122,091,501.08 81,028,228.15
IV. Influence on cash and cash equivalents due to fluctuation in
6,786,854.68 -3,245,235.97
exchange rate
V. Net increase of cash and cash equivalents 355,388,477.92 -1,579,296,000.28
Add: Balance of cash and cash equivalents at the period -begin 2,404,674,139.49 2,948,439,354.22
VI. Balance of cash and cash equivalents at the period -end 2,760,062,617.41 1,369,143,353.94
6. Cash Flow Statement of Parent Company
In RMB
Items Current Period Last Period
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing labor
1,000,075,407.06 1,528,777,082.09
services
Write-back of tax received
Other cash received concerning operating activities 32,541,171.02 3,977,167.24
Subtotal of cash inflow arising from operating activities 1,032,616,578.08 1,532,754,249.33
Cash paid for purchasing commodities and receiving labor
604,233,339.39 996,921,619.99
service
Cash paid to/for staff and workers 177,071,354.06 182,998,814.26
Taxes paid 79,403,936.58 64,131,520.72
Other cash paid concerning operating activities 35,012,504.04 99,593,806.29
Subtotal of cash outflow arising from operating activities 895,721,134.07 1,343,645,761.26
Net cash flows arising from operating activities 136,895,444.01 189,108,488.07
II. Cash flows arising from investing activities:
Cash received from recovering investment 1,358,000,000.00 2,764,477,612.00
Cash received from investment income 30,329,829.15 103,007,978.73
Net cash received from disposal of fixed, intangible and other 336,346.85 183,880.00
23
无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
long-term assets
Net cash received from disposal of subsidiaries and other units
Other cash received concerning investing activities 30,553,289.34
Subtotal of cash inflow from investing activities 1,419,219,465.34 2,867,669,470.73
Cash paid for purchasing fixed, intangible and other long-term
54,361,369.31 61,844,819.06
assets
Cash paid for investment 1,078,800,000.00 4,225,570,000.00
Net cash received from subsidiaries and other units obtained
Other cash paid concerning investing activities 50,880,372.33 130,000,000.00
Subtotal of cash outflow from investing activities 1,184,041,741.64 4,417,414,819.06
Net cash flows arising from investing activities 235,177,723.70 -1,549,745,348.33
III. Cash flows arising from financing activities
Cash received from absorbing investment
Cash received from loans 100,000,000.00 100,000,000.00
Cash received from issuing bonds
Other cash received concerning financing activities
Subtotal of cash inflow from financing activities 100,000,000.00 100,000,000.00
Cash paid for settling debts 5,000,000.00
Cash paid for dividend and profit distributing or interest
2,171,500.02 1,229,226.10
paying
Other cash paid concerning financing activities
Subtotal of cash outflow from financing activities 2,171,500.02 6,229,226.10
Net cash flows arising from financing activities 97,828,499.98 93,770,773.90
IV. Influence on cash and cash equivalents due to fluctuation in
6,556,084.25 -3,245,235.97
exchange rate
V. Net increase of cash and cash equivalents 476,457,751.94 -1,270,111,322.33
Add: Balance of cash and cash equivalents at the period -begin 1,920,076,358.43 2,454,696,969.20
VI. Balance of cash and cash equivalents at the period -end 2,396,534,110.37 1,184,585,646.87
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无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
II. Explanation on financial statement adjustment
1. Financial statement adjustment at the beginning of the first year when implementation of new financial
instrument rules, new revenue rules and new leasing rules
√ Applicable □Not applicable
Consolidate balance sheet
In RMB
Items 2018-12-31 2019-1-1 Adjustment
Current assets:
Monetary fund 2,616,321,740.73 2,616,321,740.73
Transactional financial assets Not applicable 4,740,773,607.43 4,740,773,607.43
Note receivable and account receivable 3,067,900,870.59 3,067,900,870.59
Including: Notes receivable 1,148,107,603.68 1,148,107,603.68
Accounts receivable 1,919,793,266.91 1,919,793,266.91
Account paid in advance 94,651,431.31 94,651,431.31
Other account receivable 84,582,246.16 84,582,246.16
Including: Interest receivable 1,842,437.50 1,842,437.50
Inventories 1,438,528,714.59 1,438,528,714.59
Other current assets 4,632,137,600.26 60,250,896.83 -4,571,886,703.43
Total current assets 11,934,122,603.64 12,103,009,507.64 168,886,904.00
Non-current assets:
Available-for-sale financial assets 255,975,176.91 Not applicable -255,975,176.91
Long-term equity investments 4,976,773,946.74 4,976,773,946.74
Other equity instruments investments Not applicable 87,088,272.91 87,088,272.91
Investment real estate 21,906,134.52 21,906,134.52
Fixed assets 2,707,374,678.61 2,707,374,678.61
Construction in progress 166,414,542.18 166,414,542.18
Intangible assets 324,892,822.75 324,892,822.75
Goodwill 1,784,086.79 1,784,086.79
Long-term deferred expenses 16,637,652.31 16,637,652.31
Deferred income tax assets 234,697,139.58 234,697,139.58
Other non-current assets 251,462,676.27 251,462,676.27
Total non-current assets 8,957,918,856.66 8,789,031,952.66 -168,886,904.00
Total assets 20,892,041,460.30 20,892,041,460.30
Current liabilities
Short-term borrowings 298,928,213.94 298,928,213.94
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无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
Transactional financial liability 490,329.13 490,329.13
Notes payable & account payable 3,065,704,368.40 3,065,704,368.40
Accounts received in advance 41,329,857.80 41,329,857.80
Wage payable 312,113,178.24 312,113,178.24
Taxes payable 74,271,613.92 74,271,613.92
Other accounts payable 64,448,723.52 64,448,723.52
Including: Interest payable 517,469.08 517,469.08
Non-current liabilities due within one year 15,000,000.00 15,000,000.00
Other current liabilities
Total current liabilities 3,872,286,284.95 3,872,286,284.95
Non-current liabilities:
Long-term loans 30,000,000.00 30,000,000.00
Long-term account payable 110,101,529.47 110,101,529.47
Deferred income 425,769,854.13 425,769,854.13
Deferred income tax liabilities 1,912,744.40 1,912,744.40
Total non-current liabilities 567,784,128.00 567,784,128.00
Total liabilities 4,440,070,412.95 4,440,070,412.95
Owners’ equity:
Share capital 1,008,950,570.00 1,008,950,570.00
Capital public reserve 3,416,022,795.14 3,416,022,795.14
Special reserve 1,618,490.50 1,618,490.50
Other comprehensive income -19,809,442.95 19,809,442.95
Surplus public reserve 510,100,496.00 510,100,496.00
Retained profit 10,996,945,870.13 10,977,136,427.18 -19,809,442.95
Total owner’s equity attributable to parent company 15,913,828,778.82 15,913,828,778.82
Minority interests 538,142,268.53 538,142,268.53
Total owner’s equity 16,451,971,047.35 16,451,971,047.35
Total liabilities and owner’s equity 20,892,041,460.30 20,892,041,460.30
Statement of adjustment
In 2017, the Ministry of Finance revised and issued the “Accounting Standard for Business Enterprise No.22- Recognition of
financial instrument and measurement”, “Accounting Standard for Business Enterprise No.23- Transfer of Financial assets”,
“Accounting Standard for Business Enterprise No.24- Hedge Accounting” and “Accounting Standard for Business Enterprise No.37-
Presentation of financial instruments”, and the enterprises listed in China are required to implementing relevant accounting rules of
new financial instruments since 1 Jan. 2019. In accordance with the requirement, the Company will carry out above mentioned four
accounting rules since 1 Jan. 2019.
(1) Add item of “Transactional financial assets”, parts of the original “Other current assets” and ‘Financial assets available for sale”
26
无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
are re-classified for presenting.
(2) Add item of “Other instrument equity investment”, parts of the original “Financial assets available for sale” are re-classified for
presenting.
(3) Re-classified ‘Other comprehensive income” to “Retained profit”
Balance Sheet of Parent Company
In RMB
Item 2018-12-31 2019-1-1 Adjustment
Current assets:
Monetary fund 1,922,408,227.00 1,922,408,227.00
Transactional financial assets Not applicable 4,740,773,607.43 4,740,773,607.43
Note receivable and account receivable 1,006,511,198.29 1,006,511,198.29
Including: Notes receivable 264,264,207.30 264,264,207.30
Accounts receivable 742,246,990.99 742,246,990.99
Account paid in advance 59,028,927.25 59,028,927.25
Other account receivable 196,849,092.13 196,849,092.13
Including: Interest receivable 188,682.78 188,682.78
Inventories 492,054,274.67 492,054,274.67
Other current assets 4,576,688,553.49 4,801,850.06 -4,571,886,703.43
Total current assets 8,253,540,272.83 8,422,427,176.83 168,886,904.00
Non-current assets:
Available-for-sale financial assets 180,035,176.91 Not applicable -180,035,176.91
Long-term equity investments 5,739,110,426.55 5,739,110,426.55
Other equity instruments investments Not applicable 11,148,272.91 11,148,272.91
Fixed assets 1,534,109,106.80 1,534,109,106.80
Construction in progress 78,673,300.59 78,673,300.59
Intangible assets 188,101,655.94 188,101,655.94
Deferred income tax assets 140,286,756.70 140,286,756.70
other non-current assets 184,208,090.40 184,208,090.40
Total non-current assets 8,044,524,513.89 7,875,637,609.89 -168,886,904.00
Total assets 16,298,064,786.72 16,298,064,786.72
Current liabilities
Short-term borrowings 112,000,000.00 112,000,000.00
Notes payable & account payable 1,154,238,521.88 1,154,238,521.88
Accounts received in advance 6,639,554.63 6,639,554.63
Wage payable 200,205,508.25 200,205,508.25
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无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
Taxes payable 39,193,425.15 39,193,425.15
Other accounts payable 12,142,596.68 12,142,596.68
Including: Interest payable 149,966.66 149,966.66
Total current liabilities 1,524,419,606.59 1,524,419,606.59
Non-current liabilities:
Long-term accounts payable 63,962,762.93 63,962,762.93
Deferred income 381,609,056.40 381,609,056.40
Total non-current liabilities 445,571,819.33 445,571,819.33
Total liabilities 1,969,991,425.92 1,969,991,425.92
Owners’ equity:
Share capital 1,008,950,570.00 1,008,950,570.00
Capital public reserve 3,488,221,286.39 3,488,221,286.39
Other comprehensive income -19,809,442.95 19,809,442.95
Surplus reserve 510,100,496.00 510,100,496.00
Retained profit 9,340,610,451.36 9,320,801,008.41 -19,809,442.95
Total owner’s equity 14,328,073,360.80 14,328,073,360.80
Total liabilities and owner’s equity 16,298,064,786.72 16,298,064,786.72
Statement of adjustment
In 2017, the Ministry of Finance revised and issued the “Accounting Standard for Business Enterprise No.22- Recognition of
financial instrument and measurement”, “Accounting Standard for Business Enterprise No.23- Transfer of Financial assets”,
“Accounting Standard for Business Enterprise No.24- Hedge Accounting” and “Accounting Standard for Business Enterprise No.37-
Presentation of financial instruments”, and the enterprises listed in China are required to implementing relevant accounting rules of
new financial instruments since 1 Jan. 2019. In accordance with the requirement, the Company will carry out above mentioned four
accounting rules since 1 Jan. 2019.
(1) Add item of “Transactional financial assets”, parts of the original “Other current assets” and ‘Financial assets available for sale”
are re-classified for presenting.
(2) Add item of “Other instrument equity investment”, parts of the original “Financial assets available for sale” are re-classified for
presenting.
(3) Re-classified ‘Other comprehensive income” to “Retained profit”
2. Retrospective adjustment of the comparative data for initial implementation of new financial instrument
rules and new leasing rules
□Applicable √Not applicable
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无锡威孚高科技集团股份有限公司 2019 年第一季度报告全文
III. Audit report
Whether the 1st quarterly report has been audited or not
□Yes √ No
The 1st quarterly report of the Company was unaudited
Board of Director of
Weifu High-Technology Group Co., Ltd
Chairman: ________
Chen Xuejun
29 April 2019
29
