Wafangdian Bearing Company Limited the Q3 Report for 2013
Wafangdian Bearing Company Limited
the Q3 Report for 2013
2013-31
October 2013
Chapter I. Important Prompts
The board of directors, board of supervisors, directors, supervisors and the top management guarantee there is no false
record, misleading statement or major omission in the report, and take responsibilities for the truth, accuracy and
completeness of the contents.
The following directors were absent from the board meeting.
Name of absent director Position of absent director Reason for absence Proxy
Wu Chunyou Independent director Busy work Zhang Li
Zhu Jiming Director Busy work Fang Bo
Li Shi Director Busy work Chen Jiajun
The charger of company Mr. Wang Lushun, financial controller Ms. Sun Najuan and the charger of accounting
department Ms. Yao Chunjuan made the statement: guarantee the truth, completeness of the financial report of the third
quarter report.
Chapter II. Main financial dates and shareholder changes
2.1 Main accounting data and financial indicators
Unit: Yuan
+/-（％）compared between
2013.09.30 2012.12.31 the end of current period and
last year
Total assets(RMB) 3,781,281,210.86 3,618,360,177.55 3.12%
Owner’s Equity Attributed to
Shareholders of Listed 1,524,561,315.64 1,515,934,147.74 0.57%
Company(RMB)
2013.07-.09 +/-(%) to period 2013.01-.09 +/-(%) to period
Turnover(RMB) 800,969,834.11 8.82% 2,348,373,327.48 -0.23%
Net profit attributable to
shareholders of the listed 1,899,095.67 -81.85% 24,731,167.90 -39.45%
company(RMB)
Net profit attributable to the
shareholders of the
listed company and after 1,531,738.27 -61.91% 22,469,634.02 -31.57%
deducting of
non-recurring gain/loss(RMB)
Net Cash flow generated by
-- -- -70,938,620.50 -151.61%
business operation(RMB)
Basic earnings per
0.0047 -84.33% 0.06 -40%
share(Yuan/share)
Diluted earnings per
0.0047 -84.33% 0.06 -40%
share(Yuan/share)
Net assets yield (%) 0.13% -80.88% 1.63% -40.07%
Abnormal profit and loss items
√Applicable □Not applicable
Unit: Yuan
Abnormal profit and loss items 2013.01-2013.09
Profits and losses relating to disposal of fixed assets 202,796.37
1
Government grants recorded into profit or loss during current
3,219,176.29
period
Profits and losses relating to the debt restructure -1,279,802.30
Other non-business income and expenditures other than the above 518,457.73
Less: Influenced amount of income tax 399,094.21
Total 2,261,533.88
For the Company‘s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on Information Disclosure
for Companies Offering their Securities to the Public–Non-recurring Gains and Losses and its non-recurring gain/loss items as
illustrated in the Explanatory Announcement No.1 on Information Disclosure for Companies Offering their Securities to the
Public–Non-recurring Gains and Losses which have been defined as recurring gains and losses, it is necessary to explain the
reason.
□Applicable √Inapplicable
2.2. The statement of total number of shareholders and the first 10 shareholders of current shares in
the end of the report period
Unit: Share
Total number of shareholder at the end of report period 8,583
the first 10 shareholders
Non-current Impawned or Frozen Shares
Total shares
Name Nature Ratio（%） shares held Status Amount
held
Wafangdian Bearing
State-owned shareholder 60.61% 244,000,000 244,000,000
Group Corporation
AKTIEBOLAGET SKF Foreign shareholder 19.7% 79,300,000 0 Frozen 79,300,000
GAOLING FUND,L.P. Foreign shareholder 1.45% 5,836,256 0
Huang Yuejun Domestic shareholder 0.89% 3,600,000 0
Qin Shaobin
Domestic shareholder 0.23% 913,223 0
Ma Yuancheng Domestic shareholder 0.19% 755,825 0
MAN,KWAI WING Wen
Foreign private shareholder 0.18% 713,101 0
Guirong
Chen Zhongwu Domestic shareholder 0.13% 520,085 0
Hei Youxin Foreign private shareholder 0.13% 512,559 0
Yang Yufei Domestic shareholder 0.12% 474,090 0
Top Ten Tradable Shareholders
Category of Shares
Name Current shares held at end of year
Categories Amount
AKTIEBOLAGET SKF 79,300,000 B 79,300,000
GAOLING FUND,L.P. 5,836,256 B 5,836,256
Huang Yuejun 3,600,000 B 3,600,000
Qin Shaobin 913,223 B 913,223
Ma Yuancheng 755,825 B 755,825
MAN,KWAI WING Wen Guirong 713,101 B 713,101
Chen Zhongwu 520,085 B 520,085
Hei Youxin 512,559 B 512,559
Yang Yufei 474,090 B 474,090
VANGUARD TOTAL INTERNATIONAL
459,900 B 459,900
STOCK INDEX FUND
Explanation for the Affiliated Relations or There was no relationship and consistent activities between the first big shareholder
United Action of the Top Ten and other shareholders or the top ten common stock holders; The relationship among
Shareholders and the Top Ten Tradable other shareholders, top ten circulation shareholders, top ten circulation shareholders
Shareholders and other shareholders was not clear.
2
Chapter III. Important Items
3.1 The great changes in company’s key financial statement, financial indicators, and the reasons
√Applicable □Not applicable
1. Note receivable increase 30.6%,mainly because the returned money from clients is bank acceptance, at the same time they
compress payment for suppliers, which due to our company’s note receivable increase.
2. Accounts receivable increase 12.8%,affected by domestic economy situation and industry compression policy, the returned
money from clients decline, accounts receivable from wind power, railway and auto increase .
3. Inventory decline 3.0%, mainly because the company impress reserve, which lead to processed products decline 26.57
million Yuan, and finished product decline 10.35 million Yuan.
4.Construction in process increase 11.1%, mainly because Liaoyang Bearing company reform project increase 11.85 million
Yuan, seventh finished product decline 8.77 million Yuan.
5. Note payable decline 68.1%, in report period, company compress payment for suppliers, decline bank acceptance to
suppliers.
6. Account payable increase 21.4%, in report period, company compress payment for suppliers, which lead to account payable
increase.
7. Tax payable increase 2965.9%, mainly because at the beginning of the period, there is pending deduct vat on purchase with
amount of 3.17 million Yuan.
8.Long-term borrowing increase 300.0%, the first reason, to decrease interest payment, the company change the short-term
loan expires into lower rate long-term borrowing. The second, the capital used in technology upgrade increase.
10.Asset depreciation losses increase 285.7%,mainly because in the report period, the company wire-off accounts receivable of
Zhun geer company of Shen Hua group, which lead to asset depreciation losses increase 344 thousand Yuan, wire-off Xing Yu
xinxing building material of Changshu lead to asset depreciation losses increase 660 thousand Yuan.
11.Investment income increase 106.7%,mainly because 1.profit from SKF Wazhou increase.2.in the report period the company
receive annual bonus from Shanghai ME machine-electrical equipment with amount of 680 thousand Yuan from year 2008 to
2011.
12. Income from non-business decline 58.5%,mainly because debt restructuring income decline 6.72 million Yuan.
13.Income tax expense descend by72.8%,mainly because the total profit in the report period declined 18.36 million Yuan, it minus
research and development expenses, investment income and government bounty, which lead to taxable income decline 16.44 million
Yuan, and tax expenses decline 2.25 million Yuan.
14.Net profit decline 39.4%,mainly because the main business gross profit decline, profit space compress. The sales price decline 3.5%,while the
hundred cost increase 1.2 Yuan.
3.2 The situation of major items in progress and the analysis explanation on its effect and resolved
proposal.
Non
3.3 The fulfillment of the items that the company, shareholder with more than 5% shares and the actual
controller etc. during the report period, or before it.
□ Applicable √Not applicable
3.4 Operation forecast for year 2013
□ Applicable √Not applicable
3.5 Security investment information
Statement of holding other listing company equity
□Applicable √Not applicable
3.6 Derivative products investment information
□ Applicable √Not applicable
3
3.7 Reception of investigations,communications,or interviews in the report period
Main content involved and
Time/date Place Way Type of visitors Visitors
material provided
Telephone The general information of
July 11,2013 Office Private investor Private investor
communication the company
Telephone The general information of
July 31,2013 Office Private investor Private investor
communication the company
Telephone The general information of
August 15,2013 Office Private investor Private investor
communication the company
Telephone The general information of
August 22,2013 Office Private investor Private investor
communication the company
Chapter IV Financial report
1. Consolidated Balance Sheet.
Unit: RMB Yuan
Item Closing Balance Opening Balance
Current assets ：
Monetary fund 80,909,521.64 101,233,214.04
Financial assets held-for-trading
Bills receivable 147,886,153.49 113,253,584.93
Account receivable 1,215,534,487.71 1,077,510,354.13
Account paid in advance 27,753,279.03 33,883,731.60
Interest receivable
Other receivables 23,925,078.23 19,891,810.30
Inventory 1,122,160,571.87 1,156,565,201.60
Non-current assets due within 1 year
Other current assets 2,115,147.17 2,672,185.24
Total current assets 2,620,284,239.14 2,505,010,081.84
Non-current assets
Financial assets available-for-sale
Investments held-to-maturity
Long-term receivable
Long-term equity investment 106,069,596.95 97,194,641.13
Investment property
Fixed assets 585,347,874.81 620,008,753.04
Construction in progress 267,289,968.98 240,524,680.98
Construction materials
Fixed assets disposal
Biological assets
Gas and petrol assets
Intangible assets 140,715,097.61 143,996,714.42
Development expenditure
Goodwill
Long-term prepaid expense 741,810.34 792,683.11
Deferred tax assets 10,832,623.03 10,832,623.03
Other non-current assets
Total non-current assets 1,110,996,971.72 1,113,350,095.71
Total assets 3,731,281,210.86 3,618,360,177.55
Current liabilities
Short-term loan 438,000,000.00 588,000,000.00
Note payable 70,584,828.00 221,485,454.42
4
Accounts payable 1,175,901,438.23 968,244,826.46
Accounts received in advance 42,185,756.92 47,450,550.80
Commission charge payable
Accrued payroll 20,399,163.71 21,960,176.22
Tax payable 11,798,202.06 -411,670.20
Interest payable
Dividends payable
Other payables 154,637,290.57 143,928,598.47
Non-current liabilities due within I year
Other current liabilities
Total current liabilities 1,913,506,679.49 1,990,657,936.17
Non-current liabilities
Long-term loan 240,000,000.00 60,000,000.00
Debenture payable
Long-term payables 100,000.00 100,000.00
Special payables 278,787.98 321,698.98
Contingent liabilities
Deferred tax liabilities 393,621.42 393,621.42
Other non-current liabilities 52,440,806.33 50,952,773.24
Total non-current liabilities 293,213,215.73 111,768,093.64
Total liabilities 2,206,719,895.22 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 506,977,946.31 498,350,778.41
Difference of foreign currency translation
Equity attributable to parent company 1,524,561,315.64 1,515,934,147.74
Minority interest
Total owner’s equity 1,524,561,315.64 1,515,934,147.74
Total owner’s equity and liabilities 3,731,281,210.86 3,618,360,177.55
Chairman: Wang Lushun General Accountant : Sun Najuan Accounting charger: Yao Chunjuan
2. Balance Sheet of Parent Company
Unit: RMB Yuan
Item Opening Balance Closing Balance
Current assets ：
Monetary fund 79,958,558.33 98,688,072.55
Financial assets held-for-trading
Bills receivable 147,456,153.49 109,923,584.93
Account receivable 1,193,591,092.36 1,082,311,050.10
Account paid in advance 27,001,225.93 32,587,830.67
Interest receivable
Other receivables 19,475,275.81 15,125,784.55
Inventory 1,057,784,725.75 1,080,300,720.82
Non-current assets due within 1 year
Other current assets 2,115,147.17 2,672,185.24
Total current assets 2,527,382,178.84 2,421,609,228.86
Non-current assets
Financial assets available-for-sale
Investments held-to-maturity
Long-term receivable
Long-term equity investment 163,172,659.78 154,297,703.96
5
Investment property
Fixed assets 473,309,397.80 506,327,706.02
Construction in progress 267,279,738.98 240,524,680.98
Construction materials
Fixed assets disposal
Biological assets
Gas and petrol assets
Intangible assets 124,657,463.93 127,689,514.42
Development expenditure
Goodwill
Long-term prepaid expense 741,810.34 792,683.11
Deferred tax assets 10,832,623.03 10,832,623.03
Other non-current assets
Total non-current assets 1,039,993,693.86 1,040,464,911.52
Total assets 3,567,375,872.70 3,462,074,140.38
Current liabilities
Short-term loan 438,000,000.00 588,000,000.00
Note payable 70,584,828.00 221,485,454.42
Accounts payable 1,027,054,093.55 842,791,947.56
Accounts received in advance 41,172,076.36 46,597,401.40
Commission charge payable
Accrued payroll 12,106,806.91 12,967,151.76
Tax payable 8,936,566.08 -3,619,755.25
Interest payable
Dividends payable
Other payables 101,212,011.44 88,997,888.85
Non-current liabilities due within I year
Other current liabilities
Total current liabilities 1,699,066,382.34 1,797,220,088.74
Non-current liabilities
Long-term loan 240,000,000.00 60,000,000.00
Debenture payable
Long-term payables
Special payables 278,787.98 321,698.98
Contingent liabilities
Deferred tax liabilities
Other non-current liabilities 52,440,806.33 50,952,773.24
Total non-current liabilities 292,719,594.31 111,274,472.22
Total liabilities 1,991,785,976.65 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 561,133,631.82 539,123,315.19
Difference of foreign currency translation
Equity attributable to parent company
Minority interest
Total owner ’s equity 1,575,589,896.05 1,553,579,579.42
Total owner ’s equity and liabilities 3,567,375,872.70 3,462,074,140.38
Chairman: Wang Lushun General Accountant : Sun Najuan Accounting charger: Yao Chunjuan
3. Consolidated Income Sheet in of report period
Unit: RMB Yuan
6
Item Account for the current period Account for the prior period
1.Total operating income 800,969,834.11 736,059,076.03
Including: Operating revenue 800,969,834.11 736,059,076.03
Interest income
Handling charge and commission income
2.Total operating cost 803,346,352.08 735,053,145.61
Including: Operating cost 720,740,150.01 654,846,947.16
Interest expenses
Handling charge and commission income
Tax & surcharges for main operations 4,379,218.10 3,586,103.05
Selling expenses 53,743,322.14 51,998,795.65
Administrative expense 17,844,269.62 18,892,901.58
Financial expense 5,977,118.61 5,728,398.17
Loss of impairment of assets 662,273.60
Add: Gains of change of fair value of assets(loss with"-")
Investment income(loss with "-") 3,843,428.47 1,644,782.07
Including: Income form investment on associated
3,843,428.47 1,644,782.07
enterprise and jointly enterprise
3.Operating profit (loss with"-") 1,466,910.50 2,650,712.49
Add: Non-operating revenue 1,465,383.02 8,102,103.78
Less: Non-operating cost 1,033,197.85 247,113.82
Including: loss on disposal of non-current assets 0.00 33,783.00
4.Total profit(loss with"-") 1,899,095.67 10,505,702.45
Less: Income tax expenses 0.00 42,117.35
5. Net profit(Loss with"-") 1,899,095.67 10,463,585.10
Net profit attributable to shareholders of parent company 1,899,095.67 10,463,585.10
Minority interests
6.Earnings per share
(1) Basic earnings per share 0.0047 0.03
(2) Diluted earnings per share 0.0047 0.03
7. Other comprehensive returns
8. Total comprehensive returns 1,899,095.67 10,463,585.10
Total comprehensive returns available for parent company 1,899,095.67 10,463,585.10
Total comprehensive returns available for minority
shareholders
Chairman: Wang Lushun General Accountant : Sun Najuan Accounting charger: Yao Chunjuan
4. Income Sheet of Parent Company of report period
Unit: RMB Yuan
Item Account for the current period Account for the prior period
1.Total operating income 801,409,017.42 734,975,678.76
Including: Operating revenue 801,409,017.42 734,975,678.76
Interest income
Handling charge and commission income
2.Total operating cost
Including: Operating cost 721,932,250.75 652,456,742.72
Interest expenses
Handling charge and commission income
Tax & surcharges for main operations 4,069,288.91 3,318,523.83
Selling expenses 53,404,449.97 51,673,407.56
Administrative expense 13,603,088.28 14,543,409.65
Financial expense 5,978,003.36 5,809,887.44
Loss of impairment of assets 662,273.60
7
Add: Gains of change of fair value of assets(loss with"-")
Investment income(loss with "-") 3,843,428.47 1,644,782.07
Including: Income form investment on associated
3,843,428.47 1,644,782.07
enterprise and jointly enterprise
3.Operating profit (loss with"-") 5,603,091.02 8,818,489.63
Add: Non-operating revenue 1,373,767.94 6,950,192.41
Less: Non-operating cost 1,026,697.85 738,504.06
Including: loss on disposal of non-current assets 0.00 33,783.00
4.Total profit(loss with"-") 5,950,161.11 15,030,177.98
Less: Income tax expenses 0.00 42,117.35
5. Net profit(Loss with"-") 5,950,161.11 14,988,060.63
Net profit attributable to shareholders of parent company
Minority interests
6.Earnings per share
(1) Basic earnings per share 0.0148 0.04
(2) Diluted earnings per share 0.0148 0.04
7. Other comprehensive returns
8. Total comprehensive returns 5,950,161.11 14,988,060.63
Total comprehensive returns available for parent company 5,950,161.11 14,988,060.63
Total comprehensive returns available for minority
shareholders
Chairman: Wang Lushun General Accountant : Sun Najuan Accounting charger: Yao Chunjuan
5. Consolidated Income Sheet.
Unit: RMB Yuan
Item Account for the current period Account for the prior period
1.Total operating income 2,348,373,327.48 2,353,805,771.06
Including: Operating revenue 2,348,373,327.48 2,353,805,771.06
Interest income
Handling charge and commission income
2.Total operating cost 2,335,015,197.08 2,323,909,244.56
Including: Operating cost 2,096,620,026.98 2,088,307,327.87
Interest expenses
Handling charge and commission income
Tax & surcharges for main operations 10,085,898.61 9,971,807.94
Selling expenses 156,403,749.96 156,772,932.28
Administrative expense 52,584,054.15 49,018,442.17
Financial expense 18,183,191.39 19,543,647.13
Loss of impairment of assets 1,138,275.99 295,087.17
Add: Gains of change of fair value of assets(loss with"-")
Investment income(loss with "-") 9,554,955.82 4,622,846.59
Including: Income form investment on associated
8,874,955.82 4,622,846.59
enterprise and jointly enterprise
3.Operating profit (loss with"-") 22,913,086.22 34,519,373.09
Add: Non-operating revenue 5,014,947.66 12,076,754.07
Less: Non-operating cost 2,354,319.57 2,660,580.26
Including: loss on disposal of non-current assets
4.Total profit(loss with"-") 25,573,714.31 43,935,546.90
Less: Income tax expenses 842,546.41 3,094,681.46
5. Net profit(Loss with"-") 24,731,167.90 40,840,865.44
Net profit attributable to shareholders of parent company 24,731,167.90 40,840,865.44
Minority interests
6.Earnings per share
(1) Basic earnings per share 0.06 0.1
8
(2) Diluted earnings per share 0.06 0.1
7. Other comprehensive returns
8. Total comprehensive returns 24,731,167.90 40,840,865.44
Total comprehensive returns available for parent company 24,731,167.90 40,840,865.44
Total comprehensive returns available for minority
shareholders
Chairman: Wang Lushun General Accountant : Sun Najuan Accounting charger: Yao Chunjuan
6. Income Sheet of Parent Company.
Unit: RMB Yuan
Item Account for the current period Account for the prior period
1.Total operating income 2,348,373,327.48 2,353,805,771.06
Including: Operating revenue 2,348,373,327.48 2,353,805,771.06
Interest income
Handling charge and commission income
2.Total operating cost
Including: Operating cost 2,098,216,049.22 2,078,816,626.70
Interest expenses
Handling charge and commission income
Tax & surcharges for main operations 9,104,531.34 9,537,505.59
Selling expenses 155,438,035.18 155,741,486.75
Administrative expense 39,253,214.45 36,813,096.21
Financial expense 18,148,697.93 19,312,298.57
Loss of impairment of assets 1,138,275.99 295,087.17
Add: Gains of change of fair value of assets(loss with"-")
Investment income(loss with "-") 9,554,955.82 4,622,846.59
Including: Income form investment on associated
8,874,955.82 4,622,846.59
enterprise and jointly enterprise
3.Operating profit (loss with"-") 36,892,504.67 49,616,631.20
Add: Non-operating revenue 4,411,861.69 10,433,752.28
Less: Non-operating cost 2,347,503.32 2,486,354.91
Including: loss on disposal of non-current assets
4.Total profit(loss with"-") 38,956,863.04 57,564,028.57
Less: Income tax expenses 842,546.41 3,094,681.46
5. Net profit(Loss with"-") 38,114,316.63 54,469,347.11
Net profit attributable to shareholders of parent company
Minority interests
6.Earnings per share
(1) Basic earnings per share 0.09 0.14
(2) Diluted earnings per share 0.09 0.14
7. Other comprehensive returns
8. Total comprehensive returns 38,114,316.63 54,469,347.11
Total comprehensive returns available for parent company 38,114,316.63 54,469,347.11
Total comprehensive returns available for minority
shareholders
Chairman: Wang Lushun General Accountant : Sun Najuan Accounting charger: Yao Chunjuan
7. Consolidated Cash Flow Statement.
Unit: RMB yuan
Item Account for the current period Account for the prior period
9
1.Cash from operating activities
Cash received from sale of goods or rendering of services 940,277,667.55 1,284,118,815.59
Refund of taxes and fares 382.86
Other cash received relating to operating activities 13,512,620.87 6,727,024.50
Sub-total of cash inflows 953,790,671.28 1,290,845,840.09
Cash paid for goods and services 621,351,683.80 756,017,356.31
Cash paid to or on behalf of the employees 223,108,056.63 183,096,755.42
Tax payments 61,996,744.87 64,575,839.04
Other cash paid relating to operating activities 118,272,806.48 149,711,732.67
Sub-total of cash outflows 1,024,729,291.78 1,153,401,683.44
Net cash flows from operating activities -70,938,620.50 137,444,156.65
2.Cash flows from investing activities
Cash received from return of investment 403,916.91
Cash received from investment incomes 680,000.00
Net cash received from disposal of fixed assets, intangible
726,000.00
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 1,129,916.91
Cash paid to acquire fixed assets, intangible assets and
1,717,487.00 9,389,018.53
other 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 1,717,487.00 9,389,018.53
Net cash flows from investment activities -1,037,487.00 -8,259,101.62
3.Cash flows from financing activities
Cash received from absorbing investment
Including: Cash received from increase in minority interest
Proceeds from borrowings 876,000,000.00 1,005,385,611.16
Other proceeds relating to financing activities 4,723,200.00
Sub-total of cash inflows 880,723,200.00 1,005,385,611.16
Repayment of borrowings 796,849,955.55 1,101,630,466.67
Distribution of dividends or profits & interest expenses 31,665,712.41 30,514,988.76
Including: dividends or profit paid to minority interest
Cash paid for other financing activities
Sub-total of cash outflows 828,515,667.96 1,132,145,455.43
Net cash flows from financing activities 52,207,532.04 -126,759,844.27
4. Effects of foreign exchange rate changes on cash -555,116.94 225,106.69
5.Net increases in cash and cash equivalents -20,323,692.40 2,650,317.45
Add: cash and cash equivalent, at the beginning of year 101,233,214.04 62,187,956.71
6.Cash and cash equivalent at the end of the year 80,909,521.64 64,838,274.16
Chairman: Wang Lushun General Accountant : Sun Najuan Accounting charger: Yao Chunjuan
8. 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 934,895,897.84 1,366,651,118.12
Refund of taxes and fares 382.86
10
Other cash received relating to operating activities 12,068,489.28 6,026,360.60
Sub-total of cash inflows 946,964,769.98 1,372,677,478.72
Cash paid for goods and services 667,576,244.93 893,891,227.74
Cash paid to or on behalf of the employees 188,713,204.80 147,174,697.32
Tax payments 51,122,892.15 59,686,888.38
Other cash paid relating to operating activities 109,080,133.23 138,821,844.95
Sub-total of cash outflows 1,016,492,475.11 1,239,574,658.39
Net cash flows from operating activities -69,527,705.13 133,102,820.33
2.Cash flows from investing activities
Cash received from return of investment 403,916.91
Cash received from investment incomes 680,000.00
Net cash received from disposal of fixed assets, intangible
152,500.00
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 680,000.00 556,416.91
Cash paid to acquire fixed assets, intangible assets and
1,534,224.19 8,554,014.03
other 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 1,534,224.19 8,554,014.03
Net cash flows from investment activities -854,224.19 -7,997,597.12
3.Cash flows from financing activities
Cash received from absorbing investment
Including: Cash received from increase in minority interest
Proceeds from borrowings 876,000,000.00 1,005,385,611.16
Other proceeds relating to financing activities 4,723,200.00
Sub-total of cash inflows 880,723,200.00 1,005,385,611.16
Repayment of borrowings 796,849,955.55 1,097,860,466.67
Distribution of dividends or profits & interest expenses 31,665,712.41 30,395,261.07
Including: dividends or profit paid to minority interest
Cash paid for other financing activities
Sub-total of cash outflows 828,515,667.96 1,128,255,727.74
Net cash flows from financing activities 52,207,532.04 -122,870,116.58
4. Effects of foreign exchange rate changes on cash -555,116.94 225,106.69
5.Net increases in cash and cash equivalents -18,729,514.22 2,460,213.32
Add: cash and cash equivalent, at the beginning of year 98,688,072.55 59,742,088.63
6.Cash and cash equivalent at the end of the year 79,958,558.33 62,202,301.95
Chairman: Wang Lushun General Accountant : Sun Najuan Accounting charger: Yao Chunjuan
4.5 Audited report
Audit opinions: not audited.
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