Wafangdian Bearing Company Limited the Q3 Report for 2014
Wafangdian Bearing Company Limited
the Q3 Report for 2014
2014-29
October 2014
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
The charger of company Mr. Cong Hong, 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
2014.09.30 2013.12.31 the end of current period and
last year
Total assets(RMB) 3,850,535,511.06 3,717,797,889.26 3.57%
Owner’s Equity Attributed to
Shareholders of Listed 1,443,323,489.97 1,504,966,435.50 -4.10%
Company(RMB)
2014.07-.09 +/-(%) to period 2014.01-.09 +/-(%) to period
Turnover(RMB) 680,574,796.92 -15.03% 2,321,588,005.63 -1.14%
Net profit attributable to shareholders
-28,089,759.45 -1,579.11% -45,538,945.53 -284.14%
of the listed company(RMB)
Net profit attributable to the
shareholders of the
-30,421,458.82 -2,086.07% -50,901,885.87 -326.54%
listed company and after deducting of
non-recurring gain/loss(RMB)
Net Cash flow generated by business
-- -- 124,249,201.29 -434.42%
operation(RMB)
Basic earnings per share(Yuan/share) -0.07 -1,589.36% -0.11 -283.33%
Diluted earnings per
-0.07 -1,589.36% -0.11 -283.33%
share(Yuan/share)
Net assets yield (%) -1.92% -2.05% -3.09% -4.72%
Abnormal profit and loss items
√Applicable □Not applicable
Unit: Yuan
Abnormal profit and loss items 2014.01-2014.09
Profits and losses relating to disposal of fixed assets 585,361.65
Government grants recorded into profit or loss during current
3,355,200.91
period
Profits and losses relating to the debt restructure -285,788.81
Other non-business income and expenditures other than the above 2,347,731.97
Less: Influenced amount of income tax 639,565.38
Total 5,362,940.34
For the Company‘s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on Information Disclosure
1
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
9,003
report period
The situation of the first 10 shareholders of current shares
Total shares Non-current Impawned or Frozen Shares
Name Nature Ratio（%）
held shares held Status Amount
Wafangdian Bearing State-owned
60.61% 244,000,000 244,000,000
Group Corporation shareholder
Foreign
AKTIEBOLAGET SKF 19.70% 79,300,000 0 Frozen 79,300,000
shareholder
BOCI SECURITIES Foreign
0.70% 2,800,085 0
LIMITED shareholder
Domestic
Huang Junyue 0.66% 2,655,000 0
shareholder
Domestic
Ma Yuancheng 0.19% 755,825 0
shareholder
MAN,KWAI WING Wen Foreign private
0.18% 713,101 0
Guirong shareholder
Foreign private
Hei Youxin 0.13% 512,559 0
shareholder
Domestic
Yang Yufei 0.12% 479,306 0
shareholder
EVERBRIGHTSECURI
Foreign
TIES LIMITED(HONG 0.10% 419,850 0
shareholder
KONG)
Domestic
Jiang Guangsen 0.10% 397,505 0
shareholder
The situation of the first 10 shareholders of current shares
Category of Shares
Name Current shares held at end of year (Note 4)
Categories Amount
AKTIEBOLAGET SKF 79,300,000 B 79,300,000
BOCI SECURITIES LIMITED 2,800,085 B 2,800,085
Huang Junyue 2,655,000 B 2,655,000
Ma Yuancheng 755,825 B 755,825
MAN,KWAI WING Wen Guirong 713,101 B 713,101
Hei Youxin 512,559 B 512,559
Yang Yufei 479,306 B 479,306
EVERBRIGHTSECURITIES
419,850 B 419,850
LIMITED(HONG KONG)
Jiang Guangsen 397,505 B 397,505
Wang Hongting 388,891 B 388,891
There was no relationship and consistent activities between the first big shareholder and other
Notes to relationship or “action in
shareholders or the top ten common stock holders; The relationship among other shareholders,
concert”among the top ten shareholders.
top ten circulation shareholders, top ten circulation shareholders and other shareholders was
not clear.
2
Whether the top ten shareholders with common stock and top ten shareholders with unlimited common stock agree with the
company to buy back the stock or not?
□Applicable √Inapplicable
Chart of preferred stock shareholders and the first tenth shareholders holding shares
□Applicable √Inapplicable
Chapter III. Important Items
3.1 The great changes in company’s key financial statement, financial indicators, and the reasons
√Applicable □Not applicable
+/-(%) to
No. Items Explanation
period
Post-dated bill write to supplies increase, sight bill decrease,
whilst payment collection from clients increase compared with last
1 Bill receivable 88.2%
period which make bill receivable increase much compared with
year beginning.
2 Bill payable 190.7% Post-dated bill write to supplies increase, which lead to bill
payable increase much compared with year beginning
Accounts received in Mainly because account received in advance from part clients
3 -42.6%
advance decrease compared with year beginning.
Long loan interest increase with 3.48 million Yuan compared with
4 Finance expense 32.5%
last period, bill interest subsidies increase with 3.72 million Yuan.
Mainly because the investment income from SKF Wazhou
decreased, whilst received 2008-2010 dividend from ME with 680
5 Investment proceeds -62.2%
thousand Yuan last period, the report period is without this
income.
Mainly because Liaozhou writing-off account payable in the report
6 Non-operating revenue 51.9%
period.
Debt reconstruction losses decrease with 0.5 mill Yuan compared
7 Non-operating payment -31.3%
with last period.
Mainly because the main business gross rate decreases, profit
8 Net profit -284.1% space compressed. The rate in the first third quarter is 8.5%,
which decrease 1.4% compared with last period.
Cash received from The company received 2008-2010 dividend from ME with 680
9 investment incomes -64.7% thousand Yuan last period, in the report period receive 2012
dividend with 240 thousand Yuan(profit was written in 2013)
Cash paid to acquire fixed
Mainly because the import machines payment with 29.69 million Yuan, of
10 assets, intangible assets and 2446.1% which the bill payable written in early days is expire with 8.74 million Yuan.
other long-term assets
Mainly because rate in report period increase,RMB devalue,
Effects of foreign exchange
11 -315.4% which make exchange earning increase compared with last
rate changes on cash
period.
3.2 The situation of major items in progress and the analysis explanation on its effect and resolved
proposal.
None
3
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 2014
□ 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
3.7 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 16,2014 Office Private investor Private investor
communication the company
Telephone The general information of
August 21,2014 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 88,715,685.21 80,687,086.92
Financial assets held-for-trading
Bills receivable 188,815,047.94 100,329,887.46
Account receivable 1,196,636,512.48 1,138,605,661.45
Account paid in advance 29,355,850.41 33,712,904.14
Interest receivable
Dividend receivable 240,000.00
Other receivables 26,549,888.28 29,727,292.33
Inventory 1,158,815,464.12 1,196,734,228.79
Non-current assets due within 1 year
Other current assets 2,780,392.76 2,772,988.57
Total current assets 2,691,668,841.20 2,582,810,049.66
Non-current assets
Financial assets available-for-sale
Investments held-to-maturity
Long-term receivable
Long-term equity investment 111,885,470.96 108,272,431.11
Investment property
Fixed assets 529,732,670.53 572,492,122.56
Construction in progress 369,563,654.28 303,172,462.62
Construction materials
Fixed assets disposal
4
Biological assets
Gas and petrol assets
Intangible assets 136,115,011.46 139,563,086.91
Development expenditure
Goodwill
Long-term prepaid expense 806,978.98 724,852.75
Deferred tax assets 10,762,883.65 10,762,883.65
Other non-current assets
Total non-current assets 1,158,866,669.86 1,134,987,839.60
Total assets 3,850,535,511.06 3,717,797,889.26
Current liabilities
Short-term loan 498,000,000.00 418,000,000.00
Note payable 271,088,985.08 93,247,340.00
Accounts payable 1,226,683,515.71 1,166,466,116.64
Accounts received in advance 42,761,849.97 74,433,323.04
Commission charge payable
Accrued payroll 17,211,956.38 19,654,053.70
Tax payable 5,013,999.19 5,762,579.01
Interest payable 1,728,222.22
Dividends payable
Other payables 142,520,461.34 136,673,398.82
Non-current liabilities due within I year 60,000,000.00 150,000,000.00
Other current liabilities 4,011,103.83 4,011,103.83
Total current liabilities 2,267,291,871.50 2,069,976,137.26
Non-current liabilities
Long-term loan 90,000,000.00 90,000,000.00
Debenture payable
Long-term payables 100,000.00 100,000.00
Special payables 321,698.98 321,698.98
Contingent liabilities
Deferred tax liabilities
Other non-current liabilities 49,498,450.61 52,433,617.52
Total non-current liabilities 139,920,149.59 142,855,316.50
Total liabilities 2,407,212,021.09 2,212,831,453.76
Owner’s equity (shareholders’ equity)
Capital stock 402,600,000.00 402,600,000.00
Capital public reserves 488,805,548.36 488,805,548.36
Less: treasury share
Surplus reserve 131,442,909.11 131,442,909.11
Undistributed profit 420,475,032.50 482,117,978.03
Difference of foreign currency translation
Equity attributable to parent company 1,443,323,489.97 1,504,966,435.50
Minority interest
Total owner’s equity 1,443,323,489.97 1,504,966,435.50
Total owner’s equity and liabilities 3,850,535,511.06 3,717,797,889.26
Chairman: Cong Hong 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 85,048,936.97 76,549,204.53
Financial assets held-for-trading
Bills receivable 182,598,495.72 99,829,887.46
5
Account receivable 1,188,458,784.40 1,139,776,660.21
Account paid in advance 28,737,054.26 32,824,584.91
Interest receivable
Dividend receivable 240,000.00
Other receivables 23,473,057.28 25,564,205.17
Inventory 1,102,644,240.51 1,125,983,146.27
Non-current assets due within 1 year
Other current assets 2,780,392.76 2,772,988.57
Total current assets 2,613,740,961.90 2,503,540,677.12
Non-current assets
Financial assets available-for-sale
Investments held-to-maturity
Long-term receivable
Long-term equity investment 168,163,485.29 164,550,445.44
Investment property
Fixed assets 426,113,110.64 462,267,249.78
Construction in progress 369,563,654.28 303,169,052.62
Construction materials
Fixed assets disposal
Biological assets
Gas and petrol assets
Intangible assets 120,390,190.46 123,588,686.87
Development expenditure
Goodwill
Long-term prepaid expense 806,978.98 724,852.75
Deferred tax assets 10,762,883.65 10,762,883.65
Other non-current assets
Total non-current assets 1,095,800,303.30 1,065,063,171.11
Total assets 3,709,541,265.20 3,568,603,848.23
Current liabilities
Short-term loan 498,000,000.00 418,000,000.00
Note payable 271,088,985.08 93,247,340.00
Accounts payable 1,076,185,390.48 1,017,390,652.18
Accounts received in advance 42,606,306.86 74,528,538.89
Commission charge payable
Accrued payroll 9,345,136.31 11,427,966.15
Tax payable 2,285,584.44 3,078,968.63
Interest payable 1,728,222.22
Dividends payable
Other payables 101,208,212.27 95,022,064.02
Non-current liabilities due within I year 60,000,000.00 150,000,000.00
Other current liabilities 3,913,555.83 3,913,555.83
Total current liabilities 2,064,633,171.27 1,868,337,307.92
Non-current liabilities
Long-term loan 90,000,000.00 90,000,000.00
Debenture payable
Long-term payables
Special payables 321,698.98 321,698.98
Contingent liabilities
Deferred tax liabilities
Other non-current liabilities 44,913,694.61 47,848,861.52
Total non-current liabilities 135,235,393.59 138,170,560.50
Total liabilities 2,199,868,564.86 2,006,507,868.42
Owner’s equity (shareholders’ equity)
Capital stock 402,600,000.00 402,600,000.00
Capital public reserves 485,678,443.26 485,678,443.26
Less: treasury share
6
Surplus reserve 131,442,909.11 131,442,909.11
Undistributed profit 489,951,347.97 542,374,627.44
Difference of foreign currency translation
Total owner’s equity 1,509,672,700.34 1,562,095,979.81
Total owner’s equity and liabilities 3,709,541,265.20 3,568,603,848.23
Chairman: Cong Hong General Accountant : Sun Najuan Accounting charger: Yao Chunjuan
3. Consolidated Income Sheet of report period
Unit: RMB Yuan
Item Account for the current period Account for the prior period
1.Total operating income 680,574,796.92 800,969,834.11
Including: Operating revenue 680,574,796.92 800,969,834.11
Interest income
Handling charge and commission income
2.Total operating cost 712,452,720.50 803,346,352.08
Including: Operating cost 619,472,911.74 720,740,150.01
Interest expenses
Handling charge and commission income
Tax & surcharges for main operations 2,652,800.04 4,379,218.10
Selling expenses 57,779,538.64 53,743,322.14
Administrative expense 20,312,978.94 17,844,269.62
Financial expense 12,158,985.11 5,977,118.61
Loss of impairment of assets 75,506.03 662,273.60
Add: Gains of change of fair value of assets(loss with"-")
Investment income(loss with "-") 1,351,824.26 3,843,428.47
Including: Income form investment on associated
1,351,824.26 3,843,428.47
enterprise and jointly enterprise
3.Operating profit (loss with"-") -30,526,099.32 1,466,910.50
Add: Non-operating revenue 3,250,430.53 1,465,383.02
Less: Non-operating cost 814,090.66 1,033,197.85
Including: loss on disposal of non-current assets
4.Total profit(loss with"-") -28,089,759.45 1,899,095.67
Less: Income tax expenses
5. Net profit(Loss with"-") -28,089,759.45 1,899,095.67
Net profit attributable to shareholders of parent company -28,089,759.45 1,899,095.67
Minority interests
6.Earnings per share
(1) Basic earnings per share -0.07 0.0047
(2) Diluted earnings per share -0.07 0.0047
7. Other comprehensive returns
8. Total comprehensive returns -28,089,759.45 1,899,095.67
Total comprehensive returns available for parent company -28,089,759.45 1,899,095.67
Total comprehensive returns available for minority
shareholders
Chairman: Cong Hong 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 682,070,651.64 801,409,017.42
7
Less: Operating cost 622,682,793.79 721,932,250.75
Interest expenses
Handling charge and commission income
Tax & surcharges for main operations 2,343,592.56 4,069,288.91
Selling expenses 57,506,677.13 53,404,449.97
Administrative expense 15,488,232.49 13,603,088.28
Financial expense 12,225,107.02 5,978,003.36
Loss of impairment of assets 75,506.03 662,273.60
Add: Gains of change of fair value of assets(loss with"-")
Investment income(loss with "-") 1,351,824.26 3,843,428.47
Including: Income form investment on associated
1,351,824.26 3,843,428.47
enterprise and jointly enterprise
2.Operating profit (loss with"-") -26,899,433.12 5,603,091.02
Add: Non-operating revenue 2,013,122.15 1,373,767.94
Less: Non-operating cost 811,336.87 1,026,697.85
Including: loss on disposal of non-current assets
3.Total profit(loss with"-") -25,697,647.84 5,950,161.11
Less: Income tax expenses
4. Net profit(Loss with"-") -25,697,647.84 5,950,161.11
5.Earnings per share
(1) Basic earnings per share -0.06 0.01
(2) Diluted earnings per share -0.06 0.01
6. Other comprehensive returns
7. Total comprehensive returns -25,697,647.84 5,950,161.11
Chairman: Cong Hong General Accountant : Sun Najuan Accounting charger: Yao Chunjuan
5. Consolidated Income Sheet from the beginning of the year to the end of report period
Unit: RMB Yuan
Item Account for the current period Account for the prior period
1.Total operating income 2,321,588,005.63 2,348,373,327.48
Including: Operating revenue 2,321,588,005.63 2,348,373,327.48
Interest income
Handling charge and commission income
2.Total operating cost 2,376,742,496.73 2,335,015,197.08
Including: Operating cost 2,109,959,936.45 2,096,620,026.98
Interest expenses
Handling charge and commission income
Tax & surcharges for main operations 8,824,154.26 10,085,898.61
Selling expenses 176,512,064.99 156,403,749.96
Administrative expense 56,243,283.04 52,584,054.15
Financial expense 24,094,619.60 18,183,191.39
Loss of impairment of assets 1,108,438.39 1,138,275.99
Add: Gains of change of fair value of assets(loss with"-")
Investment income(loss with "-") 3,613,039.85 9,554,955.82
Including: Income form investment on associated
3,613,039.85 8,874,955.82
enterprise and jointly enterprise
3.Operating profit (loss with"-") -51,541,451.25 22,913,086.22
Add: Non-operating revenue 7,618,970.08 5,014,947.66
Less: Non-operating cost 1,616,464.36 2,354,319.57
Including: loss on disposal of non-current assets
4.Total profit(loss with"-") -45,538,945.53 25,573,714.31
Less: Income tax expenses 842,546.41
5. Net profit(Loss with"-") -45,538,945.53 24,731,167.90
8
Net profit attributable to shareholders of parent company -45,538,945.53 24,731,167.90
Minority interests
6.Earnings per share
(1) Basic earnings per share -0.11 0.06
(2) Diluted earnings per share -0.11 0.06
7. Other comprehensive returns
8. Total comprehensive returns -45,538,945.53 24,731,167.90
Total comprehensive returns available for parent company -45,538,945.53 24,731,167.90
Total comprehensive returns available for minority
shareholders
Chairman: Cong Hong General Accountant : Sun Najuan Accounting charger: Yao Chunjuan
6. Income Sheet of Parent Company from the beginning of the year to the end of report period
Unit: RMB Yuan
Item Account for the current period Account for the prior period
1.Total operating income 2,325,532,017.92 2,348,636,352.96
Less: Operating cost 2,117,337,674.88 2,098,216,049.22
Interest expenses
Handling charge and commission income
Tax & surcharges for main operations 7,762,025.01 9,104,531.34
Selling expenses 175,585,643.76 155,438,035.18
Administrative expense 41,735,482.88 39,253,214.45
Financial expense 24,400,586.94 18,148,697.93
Loss of impairment of assets 1,108,438.39 1,138,275.99
Add: Gains of change of fair value of assets(loss with"-")
Investment income(loss with "-") 3,613,039.85 9,554,955.82
Including: Income form investment on associated
3,613,039.85 8,874,955.82
enterprise and jointly enterprise
3.Operating profit (loss with"-") -38,784,794.09 36,892,504.67
Add: Non-operating revenue 4,071,781.43 4,411,861.69
Less: Non-operating cost 1,606,266.81 2,347,503.32
Including: loss on disposal of non-current assets
4.Total profit(loss with"-") -36,319,279.47 38,956,863.04
Less: Income tax expenses
5. Net profit(Loss with"-") -36,319,279.47 38,114,316.63
6.Earnings per share
(1) Basic earnings per share -0.09 0.09
(2) Diluted earnings per share -0.09 0.09
7. Other comprehensive returns
8. Total comprehensive returns -36,319,279.47 38,114,316.63
Chairman: Cong Hong 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
1.Cash from operating activities
Cash received from sale of goods or rendering of services 1,138,571,924.97 940,277,667.55
Refund of taxes and fares 234.93 382.86
Other cash received relating to operating activities 12,305,658.16 13,512,620.87
Sub-total of cash inflows 1,150,877,818.06 953,790,671.28
9
Cash paid for goods and services 583,730,460.25 587,566,923.80
Cash paid to or on behalf of the employees 250,359,276.50 223,108,056.63
Tax payments 56,426,590.27 61,996,744.87
Other cash paid relating to operating activities 136,112,289.75 118,272,806.48
Sub-total of cash outflows 1,026,628,616.77 990,944,531.78
Net cash flows from operating activities 124,249,201.29 -37,153,860.50
2.Cash flows from investing activities
Cash received from return of investment 240,000.00 680,000.00
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 240,000.00 680,000.00
Cash paid to acquire fixed assets, intangible assets and
43,729,174.79 1,717,487.00
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 43,729,174.79 1,717,487.00
Net cash flows from investment activities -43,489,174.79 -1,037,487.00
3.Cash flows from financing activities
Cash received from absorbing investment
Including: Cash received from increase in minority interest
Proceeds from borrowings 698,000,000.00 876,000,000.00
Other proceeds relating to financing activities 4,723,200.00
Sub-total of cash inflows 698,000,000.00 880,723,200.00
Repayment of borrowings 761,716,922.22 796,849,955.55
Distribution of dividends or profits & interest expenses 32,200,831.11 31,665,712.41
Including: dividends or profit paid to minority interest
Cash paid for other financing activities
Sub-total of cash outflows 793,917,753.33 828,515,667.96
Net cash flows from financing activities -95,917,753.33 52,207,532.04
4. Effects of foreign exchange rate changes on cash 1,195,793.12 -555,116.94
5.Net increases in cash and cash equivalents -13,961,933.71 13,461,067.60
Add: cash and cash equivalent, at the beginning of year 60,616,759.13 60,004,306.25
6.Cash and cash equivalent at the end of the year 46,654,825.42 73,465,373.85
Chairman: Cong Hong 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 1,134,897,588.80 934,895,897.84
Refund of taxes and fares 234.93 382.86
Other cash received relating to operating activities 11,860,528.46 12,068,489.28
Sub-total of cash inflows 1,146,758,352.19 946,964,769.98
Cash paid for goods and services 636,463,030.85 633,791,484.93
Cash paid to or on behalf of the employees 215,153,997.26 188,713,204.80
Tax payments 45,648,002.97 51,122,892.15
10
Other cash paid relating to operating activities 125,281,882.52 109,080,133.23
Sub-total of cash outflows 1,022,546,913.60 982,707,715.11
Net cash flows from operating activities 124,211,438.59 -35,742,945.13
2.Cash flows from investing activities
Cash received from return of investment 240,000.00 680,000.00
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 240,000.00 680,000.00
Cash paid to acquire fixed assets, intangible assets and
43,358,144.79 1,534,224.19
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 43,358,144.79 1,534,224.19
Net cash flows from investment activities -43,118,144.79 -854,224.19
3.Cash flows from financing activities
Cash received from absorbing investment
Including: Cash received from increase in minority interest
Proceeds from borrowings 698,000,000.00 876,000,000.00
Other proceeds relating to financing activities 4,723,200.00
Sub-total of cash inflows 698,000,000.00 880,723,200.00
Repayment of borrowings 761,716,922.22 796,849,955.55
Distribution of dividends or profits & interest expenses 32,062,964.26 31,665,712.41
Including: dividends or profit paid to minority interest
Cash paid for other financing activities
Sub-total of cash outflows 793,779,886.48 828,515,667.96
Net cash flows from financing activities -95,779,886.48 52,207,532.04
4. Effects of foreign exchange rate changes on cash 1,195,793.12 -555,116.94
5.Net increases in cash and cash equivalents -13,490,799.56 15,055,245.78
Add: cash and cash equivalent, at the beginning of year 56,478,876.74 57,459,164.76
6.Cash and cash equivalent at the end of the year 42,988,077.18 72,514,410.54
Chairman: Cong Hong General Accountant : Sun Najuan Accounting charger: Yao Chunjuan
4.5 Audited report
Audit opinions: not audited.
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