Wafangdian Bearing Compnay Limited The Q1 Report for 2013
Stock code: 200706 stock short form: Wazhou B Report code: 2013-04
Wafangdian Bearing Company Limited
The Q1 Report for 2013
1 Important Notes
1The Board of Directors, Board of Supervisors, directors, supervisors, and top management of the Company hereby
guaranteed that there are no false records, misleading statements, and major omits in this report, and assumed the individual
and associated responsibilities for the truth, accuracy and completeness of the contents.
Chairman of the Board Mr. Wang Lushun, Financial manager Ms.Sun Najuan, Accounting charger Ms. Yao Chunjuan
hereby confirms that the Financial Report of the quarterly report is true and complete.
Besides the following directors, all the other directors attended the Board meeting and discussed the report.
Name Post Reasons Assignee name
Wang Lushun Chairman Due to the busy work Cong Hong
Rakesh
Director Due to the busy work Fang Bo
Makhija
§2 Major accounting data and shareholder change
2.1 Major accounting data and financial indexes
Unit: RMB
Jan-Mar 2013 Jan-Mar 2012 +/- to previous
Operating income(Yuan) 778,448,703.22 840,627,157.93 -7.4%
Net profits attributed Shareholders(Yuan) 19,617,156.49 18,340,078.58 6.96%
Net profit available for shareholders of listing
18,098,251.08 18,409,030.89 -1.69%
company with abnormal incomes deducted
Net cash flows from operation activities -12,048,122.30 114,887,852.76 -110.49%
Basic gains on per share 0.05 0.05 0%
Diluted gains on per share 0.05 0.05 0%
Net returns on assets (%) 1.3% 1.2% 0.1%
Jan-Mar 2013 Jan-Mar 2012 +/- to previous
Total assets 3,815,678,797.99 3,618,360,177.55 5.45%
Owners’ equity (shareholders’ equity) 1,535,551,304.23 1,515,934,147.74 1.29%
Items of non-recurring gains and losses
√ Applicable □ Inapplicable
Unit: RMB
Items of non-recurring gains and losses Amount Note（if applicable）
Gain or loss form disposal of non-current assets 247,092.28
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Wafangdian Bearing Compnay Limited The Q1 Report for 2013
Gains and losses included in the current period of government subsidies,
excluding those government grants which are closely related to normal
1,190,309.05
business and in line with national policy, or in accordance with fixed standards
or quantities
Profit of loss from debts restructuring -2,022.46
Debt restructuring gains and losses 54,481.40
Other non-business income and expenditures other than the above 27,022.68
Total 1,518,905.41 -
2.2 Total number of shareholders at the end of the report period and shares held by the top ten
shareholders
Unit: Share
Total shareholders at the end of
8,322
2013.03.31
Top ten shareholders’ status
Impawned and frozen shares
Name Nature Proportion（%） Total shares Non-circulation shares
status quantity
Wafangdian
State-owned
Bearing Group 60.61% 244,000,000 244,000,000
shareholder
Corporation
AKTIEBOLAG Foreign
19.7% 79,300,000 frozen 79,300,000
ET SKF shareholder
GAOLING Foreign
1.82% 7,325,355
FUND,L.P. shareholder
Domestic
Huang Yuejun 0.89% 3,600,000
shareholder
Domestic
Qin Shaobin 0.23% 913,223
shareholder
Foreign private
Ma Yuancheng 0.19% 748,925
shareholder
MAN,KWAI
Domestic
WING Wen 0.18% 713,101
shareholder
Guirong
Domestic
Chen Zhongwu 0.13% 537,500
shareholder
Foreign private
Hei Youxin 0.13% 512,559
shareholder
Domestic
Yang Yufei 0.12% 470,090
shareholder
The explanation on the relationship
There was no relationship and consistent activities between the first big shareholder and other
and consistent activities between
shareholders or the top ten common stock holders;
above shareholders
Top Ten Tradable Shareholders
Category of Shares
Name Current shares held at end of year (Note 4)
Categories Amount
AKTIEBOLAGET SKF 79,300,000 B 79,300,000
GAOLING FUND,L.P. 7,325,355 B 7,325,355
Huang Yuejun 3,600,000 B 3,600,000
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Wafangdian Bearing Compnay Limited The Q1 Report for 2013
Qin Shaobin 913,223 B 913,223
Ma Yuancheng 748,925 B 748,925
MAN,KWAI WING Wen Guirong 713,101 B 713,101
Chen Zhongwu 537,500 B 537,500
Hei Youxin 512,559 B 512,559
Yang Yufei 470,090 B 470,090
VANGUARD TOTAL
INTERNATIONAL STOCK INDEX 459,900 B 459,900
FUND
Explanation for the Affiliated
Relations or
United Action of the Top Ten There was no relationship and consistent activities between the first big shareholder and other
shareholders or the top ten common stock holders; The relationship among other shareholders, top ten
Shareholders and the Top Ten circulation shareholders, top ten circulation shareholders and other shareholders was not clear.
Tradable
Shareholders
§3 Significant items
3.1 Particulars about material changes in items of main accounting statement and financial index, and explanations
of reasons
√Applicable□Inapplicable
Jan-Mar Change rate
No. Items Jan-Mar 2013 Reason
2012 %
Investment income from SKF Wazhou increase 2.398 million Yuan compared
Investment with previous period; receive divided of 2008-2011 from Shanghai ME
1 400.8 93.0 331.1
income machine-electrical equipment chain Ltd. with amount 680 thousand Yuan at
March 2013
Amortization of technology improvement subsidy in2013is 180 thousand Yuan,
Amortization for compensation for plants moving is 675 thousand Yuan, which
Non-operating
2 165.5 23.1 617.4 was amortized at the end of 2012, compensation for booth fee is 230 thousand
income
Yuan, income from debt restructuring increase 285 thousand Yuan compared
with previous period.
.Income tax The income tax expenses adjusted by audit in2012 is digested in Q1,which has
3 2.6 223.2 -98.8
expenses not been counted.
3.2 Progress of significant events, their influence, and analysis and explanation of their solutions
□Applicable √Inapplicable
3.3 Implementations of commitments by the Company, shareholders and actual controllers
The commitment of following matters made by the company and its directors, supervisors and senior management personnel, more than 5%
shareholding company shareholder and the actual controller, and other relevant party during the report period to report period or continued.
□Applicable √Inapplicable
3.4 Estimation of accumulative net profit from Jan to June 2013
□Applicable √Inapplicable
3.5 Particular about security investment
□Applicable √Inapplicable
3.6 Particular about derivatives
□Applicable √Inapplicable
3.7 Activities on receiving research, communication and interview in the report period
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Wafangdian Bearing Compnay Limited The Q1 Report for 2013
Time Site Method Object Content and documents supplied Time
January 24, 2013 Office Telephone communication Private investor The general information of the company Office
Telephone communication
February 28, 2013 Office Private investor The general information of the company Office
n
March 11,2013 Office Telephone communication Private investor The general information of the company Office
Telephone communication
March 19,2013 Office Private investor The general information of the company Office
n
§4 Appendix
4.1 Balance sheet
Consolidated Balance Sheet.
Unit: RMB Yuan
Item Opening Balance Closing Balance
Current assets ：
Monetary fund 81,389,936.41 101,233,214.04
Financial assets held-for-trading
Bills receivable 126,881,916.29 113,253,584.93
Account receivable 1,246,740,010.93 1,077,510,354.13
Account paid in advance 35,918,466.53 33,883,731.60
Interest receivable
Other receivables 22,754,736.63 19,891,810.30
Inventory 1,195,966,009.89 1,156,565,201.60
Non-current assets due within 1 year
Other current assets 2,954,294.96 2,672,185.24
Total current assets 2,712,605,371.64 2,505,010,081.84
Non-current assets
Financial assets available-for-sale
Investments held-to-maturity
Long-term receivable
Long-term equity investment 100,522,528.93 97,194,641.13
Investment property
Fixed assets 600,734,865.15 620,008,753.04
Construction in progress 247,271,477.06 240,524,680.98
Construction materials
Fixed assets disposal
Biological assets
Gas and petrol assets
Intangible assets 142,936,206.66 143,996,714.42
Development expenditure
Goodwill
Long-term prepaid expense 775,725.52 792,683.11
Deferred tax assets 10,832,623.03 10,832,623.03
Other non-current assets
Total non-current assets 1,103,073,426.35 1,113,350,095.71
Total assets 3,815,678,797.99 3,618,360,177.55
Current liabilities
Short-term loan 498,000,000.00 588,000,000.00
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Wafangdian Bearing Compnay Limited The Q1 Report for 2013
Note payable 206,317,131.17 221,485,454.42
Accounts payable 1,159,315,307.25 968,244,826.46
Accounts received in advance 41,926,215.06 47,450,550.80
Commission charge payable
Employee benefits 21,445,367.84 21,960,176.22
Tax payable 11,830,446.26 -411,670.20
Interest payable
Dividends payable
Other payables 140,495,241.66 143,928,598.47
Non-current liabilities due within I year
Other current liabilities -0.07
Total current liabilities 2,079,329,709.17 1,990,657,936.17
Non-current liabilities
Long-term loan 150,000,000.00 60,000,000.00
Debenture payable
Long-term payables 100,000.00 100,000.00
Special payables 311,698.98 321,698.98
Contingent liabilities
Deferred tax liabilities 393,621.42 393,621.42
Other non-current liabilities 49,992,464.19 50,952,773.24
Total non-current liabilities 200,797,784.59 111,768,093.64
Total liabilities 2,280,127,493.76 2,102,426,029.81
Owner’s equity (shareholders’ equity)
Capital stock 402,600,000.00 402,600,000.00
Capital public reserves 485,691,050.47 485,691,050.47
Less: treasury share
Surplus reserve 129,292,318.86 129,292,318.86
Undistributed profit 517,967,934.90 498,350,778.41
Difference of foreign currency translation
Equity attributable to parent company 1,535,551,304.23 1,515,934,147.74
Minority interest
Total owner’s equity 1,535,551,304.23 1,515,934,147.74
Total owner’s equity and liabilities 3,815,678,797.99 3,618,360,177.55
Chairman: Wang Lushun General Accountant : Sun Najuan Accounting charger: Yao Chunjuan
Balance Sheet Of Parent Company
Unit: RMB Yuan
Item Opening Balance Closing Balance
Current assets ：
Monetary fund 78,764,303.03 98,688,072.55
Financial assets held-for-trading
Bills receivable 126,596,916.29 109,923,584.93
Account receivable 1,222,747,081.96 1,082,311,050.10
Account paid in advance 35,117,047.23 32,587,830.67
Interest receivable
Other receivables 18,204,083.75 15,125,784.55
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Wafangdian Bearing Compnay Limited The Q1 Report for 2013
Inventory 1,128,693,503.42 1,080,300,720.82
Non-current assets due within 1 year
Other current assets 2,954,294.96 2,672,185.24
Total current assets 2,613,077,230.64 2,421,609,228.86
Non-current assets
Financial assets available-for-sale
Investments held-to-maturity
Long-term receivable
Long-term equity investment 157,625,591.76 154,297,703.96
Investment property
Fixed assets 489,724,600.82 506,327,706.02
Construction in progress 247,271,477.06 240,524,680.98
Construction materials
Fixed assets disposal
Biological assets
Gas and petrol assets
Intangible assets 126,629,006.66 127,689,514.42
Development expenditure
Goodwill
Long-term prepaid expense 775,725.52 792,683.11
Deferred tax assets 10,832,623.03 10,832,623.03
Other non-current assets
Total non-current assets 1,032,859,024.85 1,040,464,911.52
Total assets 3,645,936,255.49 3,462,074,140.38
Current liabilities
Short-term loan 498,000,000.00 588,000,000.00
Note payable 206,317,131.17 221,485,454.42
Accounts payable 1,014,465,650.21 842,791,947.56
Accounts received in advance 40,928,744.13 46,597,401.40
Commission charge payable
Employee benefits 12,538,448.33 12,967,151.76
Tax payable 7,496,404.13 -3,619,755.25
Interest payable
Dividends payable
Other payables 85,422,218.98 88,997,888.85
Non-current liabilities due within I year
Other current liabilities -0.07
Total current liabilities 1,865,168,596.88 1,797,220,088.74
Non-current liabilities
Long-term loan 150,000,000.00 60,000,000.00
Debenture payable
Long-term payables
Special payables 311,698.98 321,698.98
Contingent liabilities
Deferred tax liabilities
Other non-current liabilities 49,992,464.19 50,952,773.24
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Wafangdian Bearing Compnay Limited The Q1 Report for 2013
Total non-current liabilities 200,304,163.17 111,274,472.22
Total liabilities 2,065,472,760.05 1,908,494,560.96
Owner’s equity (shareholders’ equity)
Capital stock 402,600,000.00 402,600,000.00
Capital public reserves 482,563,945.37 482,563,945.37
Less: treasury share
Surplus reserve 129,292,318.86 129,292,318.86
Undistributed profit 566,007,231.21 539,123,315.19
Difference of foreign currency translation
Equity attributable to parent company
Minority interest
Total owner’s equity 1,580,463,495.44 1,553,579,579.42
Total owner’s equity and liabilities 3,645,936,255.49 3,462,074,140.38
Chairman: Wang Lushun General Accountant : Sun Najuan Accounting charger: Yao Chunjuan
2 Income Sheet
Consolidated Income Sheet.
Unit: RMB Yuan
Item Account for the current period Account for the prior period
1.Total operating income 778,448,703.22 840,627,157.93
Including: Operating revenue 778,448,703.22 840,627,157.93
Interest income
Handling charge and commission income
2.Total operating cost 764,332,340.27 820,915,807.93
Including: Operating cost 688,926,932.21 747,753,295.64
Interest expenses
Handling charge and commission income
Tax & surcharges for main operations 3,024,286.15 3,127,353.63
Selling expenses 49,728,635.78 47,012,070.50
Administrative expense 16,329,817.46 16,517,794.08
Financial expense 5,976,134.30 6,214,044.51
Loss of impairment of assets 346,534.37 291,249.57
Add: Gains of change of fair value of assets(loss with"-")
Investment income(loss with "-") 4,007,887.80 929,676.32
Including: Income form investment on associated enterprise and
4,007,887.80 929,676.32
jointly enterprise
3.Operating profit (loss with"-") 18,124,250.75 20,641,026.32
Add: Non-operating revenue 1,810,891.40 253,664.25
Less: Non-operating cost 291,985.99 322,616.56
Including: loss on disposal of non-current assets
4.Total profit(loss with"-") 19,643,156.16 20,572,074.01
Less: Income tax expenses 25,999.67 2,231,995.43
5. Net profit(Loss with"-") 19,617,156.49 18,340,078.58
Net profit attributable to shareholders of parent company 19,617,156.49 18,340,078.58
Minority interests
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Wafangdian Bearing Compnay Limited The Q1 Report for 2013
6.Earnings per share
(1) Basic earnings per share 0.05 0.05
(2) Diluted earnings per share 0.05 0.05
7. Other comprehensive returns
8. Total comprehensive returns 19,617,156.49 18,340,078.58
Total comprehensive returns available for parent company 19,617,156.49 18,340,078.58
Total comprehensive returns available for minority shareholders
Chairman: Wang Lushun General Accountant : Sun Najuan Accounting charger: Yao Chunjuan
Income Sheet of Parent Company.
Unit: RMB Yuan
Item Account for the current period Account for the prior period
1.Total operating income 776,868,968.14 835,767,359.57
Including: Operating revenue
Interest income
Handling charge and commission income
2.Total operating cost
Including: Operating cost 684,275,767.58 742,925,407.45
Interest expenses
Handling charge and commission income
Tax & surcharges for main operations 2,727,312.86 3,050,916.01
Selling expenses 49,394,878.37 46,611,076.20
Administrative expense 12,617,389.41 12,793,970.95
Financial expense 5,968,057.63 6,467,909.13
Loss of impairment of assets 346,534.37 291,249.57
Add: Gains of change of fair value of assets(loss with"-")
Investment income(loss with "-") 4,007,887.80 929,676.32
Including: Income form investment on associated enterprise and
4,007,887.80 929,676.32
jointly enterprise
3.Operating profit (loss with"-") 25,546,915.72 24,556,506.58
Add: Non-operating revenue 1,654,985.96 230,701.56
Less: Non-operating cost 291,985.99 146,450.61
Including: loss on disposal of non-current assets
4.Total profit(loss with"-") 26,909,915.69 24,640,757.53
Less: Income tax expenses 25,999.67 2,231,995.43
5. Net profit(Loss with"-") 26,883,916.02 22,408,762.10
Net profit attributable to shareholders of parent company
Minority interests
6.Earnings per share
(1) Basic earnings per share 0.07 0.06
(2) Diluted earnings per share 0.07 0.06
7. Other comprehensive returns
8. Total comprehensive returns
Total comprehensive returns available for parent company
Total comprehensive returns available for minority shareholders 26,883,916.02 22,408,762.10
Chairman: Wang Lushun General Accountant : Sun Najuan Accounting charger: Yao Chunjuan
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Wafangdian Bearing Compnay Limited The Q1 Report for 2013
3 Cash Flow Statement
Consolidated Cash Flow Statement.
Unit: RMB yuan
Item Account for the current period Account for the prior period
1.Cash from operating activities
Cash received from sale of goods or rendering of services 346,160,502.66 281,959,289.38
Refund of taxes and fares 218.89
Other cash received relating to operating activities -537,216.85 4,676,874.86
Sub-total of cash inflows 345,623,504.70 286,636,164.24
Cash paid for goods and services 229,829,176.12 52,118,563.12
Cash paid to or on behalf of the employees 68,316,060.80 62,794,123.09
Tax payments 13,845,519.95 18,495,955.26
Other cash paid relating to operating activities 45,680,870.13 38,339,670.01
Sub-total of cash outflows 357,671,627.00 171,748,311.48
Net cash flows from operating activities -12,048,122.30 114,887,852.76
2.Cash flows from investing activities
Cash received from return of investment
Cash received from investment incomes 680,000.00
Net cash received from disposal of fixed assets, intangible assets and
200,000.00
other long-term assets
Proceeds from sale of subsidiaries and other operating units
Other cash received relating to investing activities
Sub-total of cash inflows 680,000.00 200,000.00
Cash paid to acquire fixed assets, intangible assets and other
141,279.80 6,966,120.10
long-term assets
Cash paid to acquire investment
Net cash used in acquiring subsidiaries and other operating units
Other cash paid relating to investing activities
Sub-total of cash outflows 141,279.80 6,966,120.10
Net cash flows from investment activities 538,720.20 -6,766,120.10
3.Cash flows from financing activities
Cash received from absorbing investment
Including: Cash received from increase in minority interest
Proceeds from borrowings 316,000,000.00 258,385,611.16
Other proceeds relating to financing activities
Sub-total of cash inflows 316,000,000.00 258,385,611.16
Repayment of borrowings 316,849,955.55 349,510,000.00
Distribution of dividends or profits & interest expenses 7,441,214.42 10,087,851.13
Including: dividends or profit paid to minority interest
Cash paid for other financing activities
Sub-total of cash outflows 324,291,169.97 359,597,851.13
Net cash flows from financing activities -8,291,169.97 -101,212,239.97
4. Effects of foreign exchange rate changes on cash -42,705.56 5,563.69
5.Net increases in cash and cash equivalents -19,843,277.63 6,915,056.38
Add: cash and cash equivalent, at the beginning of year 101,233,214.04 62,187,956.71
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Wafangdian Bearing Compnay Limited The Q1 Report for 2013
6.Cash and cash equivalent at the end of the year 81,389,936.41 69,103,013.09
Chairman: Wang Lushun General Accountant : Sun Najuan Accounting charger: Yao Chunjuan
Cash Flow Statement Of Parent Company.
Unit: RMB yuan
Item Account for the current period Account for the prior period
1.Cash from operating activities
Cash received from sale of goods or rendering of services 348,860,702.11 304,967,791.77
Refund of taxes and fares 218.89
Other cash received relating to operating activities -1,914,092.30 4,676,874.86
Sub-total of cash inflows 346,946,828.70 309,644,666.63
Cash paid for goods and services 247,903,752.12 90,932,056.63
Cash paid to or on behalf of the employees 57,058,260.30 50,967,741.28
Tax payments 11,571,324.41 17,456,182.40
Other cash paid relating to operating activities 42,664,910.10 34,264,474.14
Sub-total of cash outflows 359,198,246.93 193,620,454.45
Net cash flows from operating activities -12,251,418.23 116,024,212.18
2.Cash flows from investing activities
Cash received from return of investment 680,000.00
Cash received from investment incomes
Net cash received from disposal of fixed assets, intangible assets and
other long-term assets
Proceeds from sale of subsidiaries and other operating units
Other cash received relating to investing activities
Sub-total of cash inflows 680,000.00
Cash paid to acquire fixed assets, intangible assets and other
18,599.80 6,959,920.10
long-term assets
Cash paid to acquire investment
Net cash used in acquiring subsidiaries and other operating units
Other cash paid relating to investing activities
Sub-total of cash outflows 18,599.80 6,959,920.10
Net cash flows from investment activities 661,400.20 -6,959,920.10
3.Cash flows from financing activities
Cash received from absorbing investment
Including: Cash received from increase in minority interest
Proceeds from borrowings 316,000,000.00 258,385,611.16
Other proceeds relating to financing activities
Sub-total of cash inflows 316,000,000.00 258,385,611.16
Repayment of borrowings 316,849,955.55 349,000,000.00
Distribution of dividends or profits & interest expenses 7,441,090.38 10,086,540.03
Including: dividends or profit paid to minority interest
Cash paid for other financing activities
Sub-total of cash outflows 324,291,045.93 359,086,540.03
Net cash flows from financing activities -8,291,045.93 -100,700,928.87
4. Effects of foreign exchange rate changes on cash -42,705.56 5,563.69
5.Net increases in cash and cash equivalents -19,923,769.52 8,368,926.90
Add: cash and cash equivalent, at the beginning of year 98,688,072.55 59,742,088.63
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Wafangdian Bearing Compnay Limited The Q1 Report for 2013
6.Cash and cash equivalent at the end of the year 78,764,303.03 68,111,015.53
Chairman: Wang Lushun General Accountant : Sun Najuan Accounting charger: Yao Chunjuan
4.2 Audited Report
The Q1 Report is not audited.
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