Wafangdian Bearing Company Limited the Q3 Report for 2024
Stock code:200706 Stock ID: Wazhou B No:2024-31
Wafangdian Bearing Company Limited
The Third Quarterly Report for 2024
The Company and whole members of the BOD guarantee that the information disclosed is true,
accurate and complete, and there are no any fictitious records, misleading statements or
important omissions.
Important content reminder:
1. Board of Directors, Supervisory Committee, all directors, supervisors and senior executives of Wafangdian
Bearing Company Limited (hereinafter referred to as the Company) hereby confirm that there are no any fictitious
statements, misleading statements, or important omissions carried in this report, and shall take all responsibilities,
individual and/or joint, for the reality, accuracy and completion of the whole contents.
2. Principal of the Company, Person in Charge of Accounting Works and Person in Charge of Accounting Organ
(Accounting Officer) hereby confirm that the Financial Report of the Third Quarterly Report is authentic, accurate
and complete.
3. Whether the Third Quarterly Report has been audited or not
□Yes No
1
Wafangdian Bearing Company Limited the Q3 Report for 2024
I. Main financial data
(i) Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data or not
□ Yes No
Increase or decrease from
This reporting period From the
the beginning of the year to
compared with the same beginning of the
This period the end of the reporting
period of the previous year to the end of
period over the same period
year the report
of the previous year
Operating income (yuan) 503,219,497.92 -3.30% 1,625,585,949.75 -8.29%
Net profit attributable to
shareholders of the listed -2,267,654.62 57.44% -48,300,786.29 -18.66%
company (Yuan)
Net profit attributable to
shareholders of the listed
company after deducting -7,763,768.45 23.44% -65,074,465.95 -18.38%
non-recurring gains and
losses (Yuan)
Net cash flow from
operating activities — — 83,171,947.61 161.85%
(Yuan)
Basic earnings per share
-0.0057 56.82% -0.1200 -18.69%
(Yuan/share)
Diluted earnings per share
-0.0057 56.82% -0.1200 -18.69%
(Yuan/share)
Weighted average return
-0.70% 0.52% -13.90% -4.88%
on equity
At the end of this The end of this report is more or less than the end
At the end of the year
report of the previous year
Total assets (yuan) 3,453,450,824.95 3,180,391,222.98 8.59%
Owner's equity
attributable to
323,583,221.84 371,306,068.15 -12.85%
shareholders of the listed
company (Yuan)
(ii) Items and amounts of non-recurring profit (gains)/losses
√ Applicable □ Not applicable
Unit: Yuan
Amount for the Amount from year-
project Note
period begin to period-end
Gain or loss on disposal of illiquid assets (including the write-off of the
672,884.92 412,941.80
asset impairment provision)
Government subsidies included in the profit and loss of the current period
(except government subsidies that are closely related to the normal
operation of the company, comply with national policies and regulations, 1,053,830.79 5,037,388.48
enjoy in accordance with determined standards, and have a continuous
impact on the profit and loss of the company)
In addition to the effective hedging business related to the normal
operation of the company, the profit or loss of fair value changes arising
50,848.10 -7,704.25
from the holding of financial assets and financial liabilities by non-
financial enterprises and the loss or gain arising from the disposal of
2
Wafangdian Bearing Company Limited the Q3 Report for 2024
financial assets and financial liabilities
Gains and losses on debt restructuring 4,612,127.05 9,349,572.81
Other non-operating income and expenditure other than those mentioned
174,084.02 4,057,730.82
above
Other items of profit or loss that meet the definition of non-recurring profit
0.00 1,000,000.00
or loss
Less: Income tax impact 1,067,661.06 3,076,250.00
total 5,496,113.82 16,773,679.66 --
Other gain/loss items that qualified the definition of non-recurring profit (gains)/losses:
Applicable □ Not applicable
Dividends on investments in other equity instruments.
The Company does not have other gain/loss items that qualified the definition of non-recurring profit (gains)/losses
Explanation on those non-recurring gain/loss listed in the “Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss” defined as recurring gain/loss
□ Applicable √ Not applicable
The Company does not have the non-recurring gain/loss listed in the “Q&A Announcement No.1 on Information Disclosure for
Companies Offering Their Securities to the Public --- Extraordinary Profit/loss” defined as recurring gain/loss
(iii) Particulars about changes in items of main accounting data and financial index and explanations of reasons
Applicable □Not applicable
At the beginning
Year-on-year
By the end of of the year/the
item increase or Cause of change
September 2024 same time last
decrease
year
Outstanding notes and holdings of commercial paper
Notes receivable 728,200,695.18 450,721,512.23 61.6%
rose sharply
Payroll payable to The year-end performance at the end of 2023 will be
18,444,806.49 47,130,138.90 -60.9%
employees distributed in the first quarter of this year
Taxes payable 11,228,438.55 20,327,848.00 -44.8% Taxes due at the end of 2023 will be paid this year
This was mainly due to a sharp increase in value-added
Other income 19,944,734.38 7,046,861.39 183.0%
tax credits
Credit impairment loss
709,438.92 3,185,699.60 -77.7% Recovery of goods from impaired receivables
(loss marked with "-")
Gain on disposal of
assets (loss marked with 412,941.80 1,193,288.60 -65.4% Fewer fixed assets were disposed of this year
"-")
Non-operating income 4,716,134.46 653,095.68 622.1% Increase in penalty income and non-payable amounts
Non-operating expenses 658,403.64 235,956.53 179.0% Asset retirement losses increased
Refund of taxes received 12,680,879.66 25,407,770.48 -50.1% Export rebates received decreased during the period
Other cash received in
Cash received from government subsidies and deposits
connection with 30,187,964.38 43,418,476.80 -30.5%
decreased during the period
operating activities
The value added tax and additional taxes paid during
All taxes paid 38,724,681.20 65,488,368.68 -40.9%
the period decreased year-on-year
Cash received to earn Dividends on other equity instruments were down
1,000,000.00 2,000,000.00 -50.0%
investment income year-on-year
3
Wafangdian Bearing Company Limited the Q3 Report for 2024
Net cash recovered from
disposal of fixed assets, Cash received from disposal of fixed assets decreased
14,700.70 468,000.00 -96.9%
intangible assets and during the period
other long-term assets
Cash paid for the
purchase and
construction of fixed Monetary expenditures for the purchase and
4,474,692.15 3,062,338.75 46.1%
assets, intangible assets construction of fixed assets increased
and other long-term
assets
Obtain cash received The amount of short-term loans in the current period
460,000,000.00 688,000,000.00 -33.1%
from borrowings decreased compared with the same period last year
Cash payments to repay The amount of short-term loans in the current period
468,550,000.00 689,000,000.00 -32.0%
debts decreased compared with the same period last year
Effect of exchange rate
Foreign currency bank deposits are subject to
changes on cash and 687,740.50 2,282,509.35 -69.9%
exchange rate changes
cash equivalents
II. Shareholders Information
(i) Total number of common shareholders and preference shareholders with voting rights recovered and
top ten common shareholders
Unit: Share
Total common shareholders at the Total preference shareholders with voting rights
4,999 0
end of report period recovered at end of reporting period (if applicable)
Top ten shareholders
Proportion Number of Information of shares pledged, tagged
Nature of Amount of
Shareholder’s name of shares non-tradable or frozen
shareholder shares held
held shares held State of share Amount
Wafangdian bearing State-owned
60.61% 244,000,000 244,000,000 inapplicability 0
Group Co., LTD legal person
AKTIEBOLAGET Overseas
19.70% 79,300,000 0 inapplicability 0
SKF legal person
China Merchants
Overseas
Securities (Hong 2.71% 10,896,585 0 inapplicability 0
legal person
Kong) Limited
Domestic
Huang Junyue natural 1.81% 7,302,709 0 inapplicability 0
person
Domestic
Hu Xiaofeng natural 0.47% 1,879,277 0 inapplicability 0
person
BOCI SECURITIES Overseas
0.36% 1,433,154 0 inapplicability 0
LIMITED legal person
Domestic
Wang Xiao natural 0.19% 774,420 0 inapplicability 0
person
Domestic
Yang Yufei natural 0.19% 760,500 0 inapplicability 0
person
MAN,KWAI WING Domestic 0.18% 713,101 0 inapplicability 0
4
Wafangdian Bearing Company Limited the Q3 Report for 2024
natural
person
Domestic
Jiang Guangsen natural 0.17% 687,900 0 inapplicability 0
person
Shareholding of the top 10 shareholders of tradable shares
Type of shares
Shareholders’ name Number of listed shares held
Type Amount
AKTIEBOLAGET SKF 79,300,000 B 79,300,000
China Merchants Securities (Hong
10,896,585 B 10,896,585
Kong) Limited
Huang Junyue 7,302,709 B 7,302,709
Hu Xiaofeng 1,879,277 B 1,879,277
BOCI SECURITIES LIMITED 1,433,154 B 1,433,154
Wang Xiao 774,420 B 774,420
Yang Yufei 760,500 B 760,500
MAN,KWAI WING 713,101 B 713,101
Jiang Guangsen 687,900 B 687,900
GUOTAI JUNAN SECURITIES
687,400 B 687,400
(HONG KONG) LIMITED
Among the top ten shareholders of the Company, there is no correlation
or concerted action between the largest shareholder and other
A description of the above shareholder affiliation or
shareholders or the top ten tradable shareholders, and the correlation or
concerted action
concerted action between other shareholders, the top ten tradable
shareholders, and the top ten tradable shareholders is unknown.
Description of the Top 10 shareholders' participation
None
in margin trading (if any)
(ii) Total shareholders with preferred stock held and shares held by top ten shareholders with preferred
stock held
□ Applicable √ Not applicable
III. Other significant events
□ Applicable √ Not applicable
IV. Quarterly financial statements
(i) Financial statement
1. Consolidate balance sheet
Prepared by Wafangdian Bearing Company Limited
September 30, 2024
Unit: Yuan
item Ending balance Opening balance
Current Assets:
Monetary funds 250,120,204.19 210,814,228.05
Settlement of provisions
Lend funds
5
Wafangdian Bearing Company Limited the Q3 Report for 2024
Trading financial assets 206,474.08 214,178.33
Derivative financial assets
Notes receivable 728,200,695.18 450,721,512.23
Accounts receivable 1,051,050,567.09 1,086,438,008.68
Financing of receivables 59,140,885.32 55,546,474.87
prepayment 18,339,554.76 16,939,892.67
Premium receivable
Reinsurance accounts receivable
Reserves receivable for reinsurance contracts
Other receivables 7,769,568.68 9,403,175.09
Among them: interest receivable
Dividends receivable
Buy and sell financial assets
stock 662,931,686.57 651,494,088.99
Where: Data resources
Contract assets 5,565,143.57
Holding assets for sale
Non-current assets maturing within one year
Other current assets 44,348,031.13 47,560,917.19
Total current assets 2,822,107,667.00 2,534,697,619.67
Non-current assets:
Make loans and advances
Debt investment
Other debt investments
Long-term receivables
Long-term equity investment
Investments in other equity instruments 11,910,077.43 11,910,077.43
Other non-current financial assets
Investment real estate 68,433,601.35 68,614,653.76
Fixed assets 438,362,412.65 448,651,044.66
Construction in progress 34,834,425.19 37,354,969.68
Productive biological assets
Oil and gas assets
Usufruct assets
Intangible assets 71,024,041.60 74,319,876.46
Where: Data resources
Development expenditure
Where: Data resources
goodwill
Long-term deferred expenses 6,778,599.73 4,842,981.32
Deferred tax assets
Other non-current assets
Total non-current assets 631,343,157.95 645,693,603.31
Total assets 3,453,450,824.95 3,180,391,222.98
Current liabilities:
Short-term loan 590,000,000.00 598,000,000.00
Borrow from the central bank
Borrowed funds
6
Wafangdian Bearing Company Limited the Q3 Report for 2024
Transactional financial liabilities
Derivative financial liability
Notes payable 524,327,122.63 460,840,218.52
Accounts payable 1,618,736,798.82 1,269,200,269.48
Advances received
Contractual liability 28,748,401.90 30,546,735.85
Funds used to sell and repurchase financial assets
Take deposits and deposit with other banks
To buy and sell securities
Underwrite securities
Payroll payable to employees 18,444,806.49 47,130,138.90
Taxes payable 11,228,438.55 20,327,848.00
Other payables 141,068,458.79 185,396,158.28
Among them: interest payable
Dividend payable
Fees and commissions payable
Reinsurance accounts payable
Holding liabilities held for sale
Non-current liabilities due within one year
Other current liabilities 3,722,008.86 4,574,730.79
Total current liabilities 2,936,276,036.04 2,616,016,099.82
Non-current liabilities:
Reserve for insurance contracts
Long-term loan 98,900,000.00 99,450,000.00
Bonds payable
Among them: Preferred stock
Perpetual bond
Lease liability
Long-term payables 344,974.84 344,974.84
Long-term employee compensation payable
Projected liabilities 54,422,390.91 49,598,202.66
Deferred income 39,348,504.21 43,100,180.40
Deferred income tax liabilities 575,697.11 575,697.11
Other non-current liabilities
Total non-current liabilities 193,591,567.07 193,069,055.01
Total liabilities 3,129,867,603.11 2,809,085,154.83
Owner's equity:
Capital stock 402,600,000.00 402,600,000.00
Other equity instruments
Among them: Preferred stock
Perpetual bond
Capital reserve 485,691,050.47 485,691,050.47
Less: Treasury shares
Other comprehensive income
Special reserve 2,992,817.61 2,414,877.63
Surplus reserve 136,770,391.01 136,770,391.01
General risk reserve
Undistributed profit -704,471,037.25 -656,170,250.96
7
Wafangdian Bearing Company Limited the Q3 Report for 2024
Total owner's equity attributable to parent company 323,583,221.84 371,306,068.15
Minority interest
Total owners' equity 323,583,221.84 371,306,068.15
Total liabilities and owners' equity 3,453,450,824.95 3,180,391,222.98
Legal Representative: Wang Jiyuan Person in charge of accounting works: Sun Najuan
Person in charge of accounting institute: Sun Xinyan
2. Consolidated Profit Statement (from the year-begin to the period-end)
Unit: Yuan
Item Current period Last period
I. Total operating income 1,625,585,949.75 1,772,444,939.14
Among them: operating income 1,625,585,949.75 1,772,444,939.14
Interest income
The premium has been made
Fee and commission income
2. Total operating cost 1,709,353,450.52 1,833,139,488.11
Among them: operating cost 1,390,165,952.72 1,497,371,016.62
The interest payments
Fees and commission expenses
Surrender gold
Net payout for claims
Draw the net insurance liability reserve
Policy bonus payout
Reinsurance expenses
Taxes and surcharges 10,170,989.14 10,271,031.69
Cost of sales 115,883,581.40 120,806,440.10
Management fees 82,986,788.60 88,371,130.31
Research and development costs 86,182,502.40 91,345,297.64
Finance charges 23,963,636.26 24,974,571.75
Among them: interest expense 18,712,656.21 21,251,558.12
Interest income 1,456,629.87 1,118,449.67
Plus: other benefits 19,944,734.38 7,046,861.39
Investment income (loss marked with "-") 10,349,572.81 8,153,819.50
Among them: income from investment in joint ventures and joint
ventures
Financial assets measured at amortized cost terminate recognition of
earnings
Exchange gain (marked with "-" for loss)
Net exposure hedging gain (loss marked with "-")
Income from change in fair value (marked with "-" for loss) -7,704.25 -7,704.25
Credit impairment loss (marked with "-") 709,438.92 3,185,699.60
Asset impairment loss (marked with "-") 0.00
Gain on disposal of assets (loss marked with "-") 412,941.80 1,193,288.60
3. Operating profit (loss marked with "-") -52,358,517.11 -41,122,584.13
Plus: non-operating income 4,716,134.46 653,095.68
8
Wafangdian Bearing Company Limited the Q3 Report for 2024
Less: non-operating expenses 658,403.64 235,956.53
Iv. Total profit (total loss marked with "-") -48,300,786.29 -40,705,444.98
Less: Income tax expense
V. Net profit (Net loss marked with "-") -48,300,786.29 -40,705,444.98
(a) classification according to business continuity
1. Net profit from continuing operations (net loss marked with "-") -48,300,786.29 -40,705,444.98
2. Net profit from terminated operations (net loss marked with "-")
(2) Classification according to ownership
1. Net profit attributable to shareholders of the parent company (net
-48,300,786.29 -40,705,444.98
loss marked with "-")
2. Profit and loss of minority shareholders (net loss marked with "-")
Net after tax of other comprehensive income
Net after tax of other comprehensive income attributable to owner of
parent company
(1) Other comprehensive income that cannot be reclassified into profit
or loss
1. Re-measure the amount of change in the set benefit plan
2. Other comprehensive income that cannot be transferred to profit or
loss under the equity method
3. Changes in fair value of other equity instrument investments
4. The fair value change of the enterprise's own credit risk
5. Other
(2) Other comprehensive income reclassified into profit and loss
1. Other comprehensive income that can be transferred to profit or
loss under the equity method
2. Changes in fair value of other debt investments
3. The amount of financial assets reclassified into other
comprehensive income
4. Provision for impairment of other creditor's rights investment credit
5. Cash flow hedging reserve
6. Translation difference of foreign currency financial statements
7. Other
Net after tax of other comprehensive income attributable to minority
shareholders
7. Total comprehensive income -48,300,786.29 -40,705,444.98
(1) Total comprehensive income attributable to the owner of the
-48,300,786.29 -40,705,444.98
parent company
(2) Total comprehensive income attributable to minority shareholders
8. Earnings per Share
(1) Basic earnings per share -0.1200 -0.1011
(2) Diluted earnings per share -0.1200 -0.1011
Legal Representative: Wang Jiyuan Person in charge of accounting works: Sun Najuan
Person in charge of accounting institute: Sun Xinyan
9
Wafangdian Bearing Company Limited the Q3 Report for 2024
3. Consolidated Cash Flow Statement (from the year-begin to the period-end)
Unit: Yuan
Item Current period Last period
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing labor services 882,536,439.10 721,372,861.12
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
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 12,680,879.66 25,407,770.48
Other cash received concerning operating activities 30,187,964.38 43,418,476.80
Subtotal of cash inflow arising from operating activities 925,405,283.14 790,199,108.40
Cash paid for purchasing commodities and receiving labor service 403,549,721.57 463,668,190.64
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 capital lent
Cash paid for interest, commission charge and commission
Cash paid for bonus of guarantee slip
Cash paid to/for staff and workers 298,901,843.99 289,980,382.54
Taxes paid 38,724,681.20 65,488,368.68
Other cash paid concerning operating activities 101,057,088.77 105,543,065.68
Subtotal of cash outflow arising from operating activities 842,233,335.53 924,680,007.54
Net cash flows arising from operating activities 83,171,947.61 -134,480,899.14
II. Cash flows arising from investing activities:
Cash received from recovering investment
Cash received from investment income 1,000,000.00 2,000,000.00
Net cash received from disposal of fixed, intangible and other long-
14,700.70 468,000.00
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 1,014,700.70 2,468,000.00
Cash paid for purchasing fixed, intangible and other long-term assets 4,474,692.15 3,062,338.75
Cash paid for investment
Net increase of mortgaged loans
Net cash received from subsidiaries and other units obtained
Other cash paid concerning investing activities
Subtotal of cash outflow from investing activities 4,474,692.15 3,062,338.75
Net cash flows arising from investing activities -3,459,991.45 -594,338.75
III. Cash flows arising from financing activities
Cash received from absorbing investment
10
Wafangdian Bearing Company Limited the Q3 Report for 2024
Including: Cash received from absorbing minority shareholders’
investment by subsidiaries
Cash received from loans 460,000,000.00 688,000,000.00
Other cash received concerning financing activities 367,088,867.61 372,098,651.66
Subtotal of cash inflow from financing activities 827,088,867.61 1,060,098,651.66
Cash paid for settling debts 468,550,000.00 689,000,000.00
Cash paid for dividend and profit distributing or interest paying 24,522,188.31 20,164,638.62
Including: Dividend and profit of minority shareholder paid by
subsidiaries
Other cash paid concerning financing activities 377,905,041.43 319,092,564.47
Subtotal of cash outflow from financing activities 870,977,229.74 1,028,257,203.09
Net cash flows arising from financing activities -43,888,362.13 31,841,448.57
IV. Influence on cash and cash equivalents due to fluctuation in exchange
687,740.50 2,282,509.35
rate
V. Net increase of cash and cash equivalents 36,511,334.53 -100,951,279.97
Add: Balance of cash and cash equivalents at the period-begin 110,664,560.63 227,357,291.37
VI. Balance of cash and cash equivalents at the period-end 147,175,895.16 126,406,011.40
(2) The first implementation of the new accounting standards from 2024 to adjust the first
implementation of the financial statements at the beginning of the year related items
□ Applicable Not applicable
(iii) Audit report
Whether the 3rd quarterly report has been audited or not
□YesNo
The 3rd quarterly report of the Company has not been audited.
Board of Directors of
Wafangdian Bearing Company Limited
11
