Wafangdian Bearing Compnay Limited The Q1 Report for 2015
Stock code: 200706 stock short form: Wazhou B Report code: 2015-19
Wafangdian Bearing Company Limited
The Q1 Report for 2015
§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. Cong Hong , 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
Zhang Li Indepandent Diretor Busy work Sun Guangguo
§2 Major accounting data and shareholder change
2.1 Major accounting data and financial indexes
Unit: RMB
Jan-Mar 2015 Jan-Mar 2014 +/- to previous
Operating income(Yuan) 582,509,508.85 793,395,179.56 -26.58%
Net profits attributed
-39,057,333.13 -15,385,987.48 153.85%
Shareholders(Yuan)
Net profit available for shareholders of
listing company with abnormal incomes -41,560,197.87 -16,215,176.61 156.30%
deducted
Net cash flows from operation activities -62,129,152.74 3,059,178.21 -2,130.91%
Basic gains on per share -0.10 -0.04 150.00%
Diluted gains on per share -0.10 -0.04 150.00%
Net returns on assets (%) -2.87% -1.03% -1.84%
Jan-Mar 2015 Jan-Mar 2014 +/- to previous
Total assets 3,888,828,846.53 3,935,819,231.85 -1.19%
Owners’ equity (shareholders’ equity) 1,342,787,655.59 1,381,844,988.72 -2.83%
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 935,944.52
Gains and losses included in the current period of government subsidies,
excluding those government grants which are closely related to normal
1,462,251.96
business and in line with national policy, or in accordance with fixed
standards or quantities
Profit of loss from debts restructuring 290,040.07
Other non-business income and expenditures other than the above -1,734.26
1
Wafangdian Bearing Compnay Limited The Q1 Report for 2015
Influenced amount of income tax 183,637.55
Total 2,502,864.74 -
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 2015.03.31 8215
Top ten shareholders’ status
Impawned and frozen
Total Non-circula shares
Name Nature Proportion（%）
shares tion shares
status quantity
Wafangdian Bearing
State-owned shareholder 60.61% 244,000,000 244,000,000
Group Corporation
AKTIEBOLAGET
Foreign shareholder 19.70% 79,300,000 frozen 79,300,000
SKF
Huang Junyue Domestic shareholder 0.97% 3,888,998
BOCI SECURITIES
Foreign shareholder 0.76% 3,052,385
LIMITED
Peng Ruihua Domestic shareholder 0.28% 1,122,000
MAN,KWAI WING Foreign private
0.18% 713,101
Wen Guirong shareholder
Ma Yuancheng Domestic shareholder 0.15% 600,000
Foreign private
Hei Youxin 0.13% 512,559
shareholder
Yang Yufei Domestic shareholder 0.12% 502,278
GUOTAI JUNAN
SECURITIES(HONGK
ONG) LIMITED Foreign shareholder 0.12% 480,695
The explanation on the relationship and There was no relationship and consistent activities between the first big
consistent activities between above shareholders shareholder and other shareholders or the top ten common stock holders;
Top Ten Tradable Shareholders
Category of Shares
Current shares held at end of
Name Categories Amount
year (Note 4)
AKTIEBOLAGET SKF 79,300,000 B 79,300,000
Huang Junyue 3,888,998 B 3,888,998
BOCI SECURITIES LIMITED 3,052,385 B 3,052,385
Peng Ruihua 1,122,000 B 1,122,000
MAN,KWAI WING Wen Guirong 713,101 B 713,101
Ma Yuancheng 600,000 B 600,000
Hei Youxin 512,559 B 512,559
Yang Yufei 502,278 B 502,278
GUOTAI JUNAN SECURITIES(HONGKONG)
480,695 B 480,695
LIMITED
CREDIT SUISSE (HONG KONG) LIMITED 463,021 B 463,021
Explanation for the Affiliated Relations or There was no relationship and consistent activities between the first big
United Action of the Top Ten shareholder and other shareholders or the top ten common stock
holders; The relationship among other shareholders, top ten circulation
Shareholders and the Top Ten Tradable shareholders, top ten circulation shareholders and other shareholders
Shareholders was not clear.
2
Wafangdian Bearing Compnay Limited The Q1 Report for 2015
§3 Significant items
3.1 Particulars dates changes over 30% in items of main accounting statement and financial
index , and explanations of reasons
√Applicable□Inapplicable
Unite: 0000’Yuan
The end of Beginning of
No Item % Reason
year year
The Interest receivable is from Shanghai ME
Interest
1 - 24.0 -100.0% Machine-electrical Equipment with amount of 240 thousand
receivable
Yuan of 2013
1.There is a accident on heat treatment machines,lead to
a repaired expenses with 5.02 million Yuan,the company is
claiming indemnity from insurance company。；2.Electric
2 Other receivables 2,693.3 1,921.2 40.2%
charge paid in advance with 1.1 million Yuan.travel
expense which has not applied for reimbursement with 1.3
million Yuan.
1.the input tax shall be deducted in WBC parent company
is 1.5 million Yuan at the end of year,which is 11.56
Other current million Yuan at the beginning of period;2. the input tax
3 1,186.1 2,453.4 -51.7%
assets shall be deducted in Wazhou precision spherical Co.ltd is
7.74 million Yuan at the end of year,which is 9.15 million
Yuan.
Mainly because the added-vaule tax and complementary tax
4 Tax payable 509.8 367.7 38.6%
incresed compared with last peirod.
Mainly because the bank loan interest withdrawning by
5 Interest payable 1,028.2 594.3 73.0%
month incresed compared the beginning of the peirod.
1.Long-term bank loan interest increase with 1.54 million
Yuan comapred with last peirod.2.circulating fund loan
Financial
6 1,086.7 589.9 84.2% interest increase with 1.31 million Yuan compared with
expense
last period;3.income from bill inerest subsidy decrese
with 1.5 million Yuan compared with last period.
Loss of Mainly because the company writeen-off with Zhongqi
7 impairment of 1.5 103.3 -98.5%
assets Qiaoxiang with amount of 910 thousand Yuan.
Investment Mainly because the invest income from SKF Wazhou with
8 0.0 28.6 -100.0%
income amount of 286 thousand Yuan in last peirod.
1.Income from fix assets dispose increase with 940
Non-operating
9 285.2 132.1 115.8% thousand Yuan compared with last peirod.2.Income from debt
revenue
re- constructe increase with 430 thouand Yuan.
Non-operating Mainly because the debt re- constructe loss decrease with
10 16.5 49.2 -66.4%
cost 340 thousan Yuan compared with last peirod.
1.Main business income decrease with 160.18 million
Yuan,with 23.1% compared with last period,which lead to
gross profit affected with 10.50 million Yuan,while the
11 Net profit -3,905.7 -1,538.6 153.9% mian business gross rate is 7%,which increased 0.1%
compared with last period.2.other income decrease with
50.70 million Yuan, decrease 50.6%, lead to the profie
affected with about 6.6 million Yuan,the gross rate is
3
Wafangdian Bearing Compnay Limited The Q1 Report for 2015
1%,decrease 12.1% compared with last period, lead to the
profie affected with about 6 million Yuan
Other cash paid
relating to Mainly because the waste income reduced compared with last
12 346.1 701.1 -50.6%
operating peirod.
activities
Mainly because the added-value tax payment in the report
13 Tax payments 1,015.6 1,866.9 -45.6% peirod is 5.17 million Yuan, redue 7.16 million Yuan
compared with last peirod.
Cash paid to
acquire fixed 1.Payment for import mahcines is 19.51 million Yuan in last
14 assets, intangible 438.6 3,080.7 -85.8% peirod;2.the expired bank bill decrease with 8.67 million
assets and other
Yuan.
long-term assets
Cash paid to Mainly because WBC purchase the 51% equity of Da Lian SKF
15 acquire 1,125.0 0.0 Wazhou,and the letter of credit with amount of 11.25
investment
million Yuan is expire.
Effects of foreign Because the doller exchange rate increase a lot last
16 exchange rate 17.6 55.6 -68.3% period, which lead to the exchange income increase.While
changes on cash
in the report peirod, doller exchange rate change less.
3.2 Progress of significant events, their influence, and analysis and explanation of their solutions
□Applicable √Inapplicable
3.3 Estimation of accumulative net profit from Jan to June 2015
□Applicable √Inapplicable
3.4 Particular about security investment
□Applicable √Inapplicable
3.5 Particular about derivatives
□Applicable √Inapplicable
3.6 Activities on receiving research, communication and interview in the report period
Content and documents
Time Site Method Object Time
supplied
Telephone The general information of the
March 4,2015 Office Private investor Office
communication n company
Telephone The general information of the
March 18,2015 Office Private investor Office
communication company
4
Wafangdian Bearing Compnay Limited The Q1 Report for 2015
§4 Appendix
4.1 Balance sheet
Consolidated Balance Sheet.
Unit: RMB Yuan
Item Opening Balance Closing Balance
Current assets ：
Monetary fund 142,423,695.53 180,569,164.66
Financial assets held-for-trading
Bills receivable 131,953,731.37 188,117,975.71
Account receivable 1,189,412,966.57 1,098,566,178.20
Account paid in advance 44,305,473.58 44,031,201.66
Interest receivable 240,000.00
Other receivables 26,932,684.32 19,211,927.22
Inventory 1,134,120,006.25 1,166,347,866.35
Non-current assets due within 1 year
Other current assets 11,860,825.06 24,534,185.32
Total current assets 2,681,009,382.68 2,721,618,499.12
Non-current assets
Financial assets available-for-sale 2,000,000.00 2,000,000.00
Investments held-to-maturity
Long-term receivable
Long-term equity investment
Investment property
Fixed assets 679,416,382.98 695,819,839.43
Construction in progress 374,726,370.97 363,404,435.51
Construction materials
Fixed assets disposal
Biological assets
Gas and petrol assets
Intangible assets 139,120,145.86 140,355,336.13
Development expenditure
Goodwill
Long-term prepaid expense 703,296.77 767,854.39
Deferred tax assets 11,853,267.27 11,853,267.27
Other non-current assets
Total non-current assets 1,207,819,463.85 1,214,200,732.73
Total assets 3,888,828,846.53 3,935,819,231.85
Current liabilities
Short-term loan 498,000,000.00 498,000,000.00
Note payable 181,660,012.60 206,867,023.86
Accounts payable 1,423,922,289.61 1,388,424,650.70
Accounts received in advance 51,001,543.15 48,558,339.92
Commission charge payable
Employee benefits 18,554,717.47 20,275,364.44
5
Wafangdian Bearing Compnay Limited The Q1 Report for 2015
Tax payable 5,097,559.22 3,676,987.88
Interest payable 10,282,493.00 5,942,500.00
Dividends payable
Other payables 160,021,160.33 183,285,758.81
Non-current liabilities due within I year 90,000,000.00 90,000,000.00
Other current liabilities 4,411,103.83 4,761,103.83
Total current liabilities 2,442,950,879.21 2,449,791,729.44
Non-current liabilities
Long-term loan 50,000,000.00 50,000,000.00
Debenture payable
Long-term payables 1,597,305.72 1,597,305.72
Special payables 321,698.98 321,698.98
Contingent liabilities
Deferred income 50,030,311.68 51,122,513.64
Deferred tax liabilities 1,140,995.35 1,140,995.35
Other non-current liabilities
Total non-current liabilities 103,090,311.73 104,182,513.69
Total liabilities 2,546,041,190.94 2,553,974,243.13
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 131,442,909.11 131,442,909.11
Undistributed profit 323,053,696.01 362,111,029.14
Equity attributable to parent company 1,342,787,655.59 1,381,844,988.72
Minority interest
Total owner’s equity 1,342,787,655.59 1,381,844,988.72
Total owner’s equity and liabilities 3,888,828,846.53 3,935,819,231.85
Chairman: Cong Hong 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 137,219,146.28 172,688,792.14
Financial assets held-for-trading
Bills receivable 120,636,071.71 181,824,053.86
Account receivable 1,171,080,784.65 1,106,322,532.09
Account paid in advance 37,634,625.94 40,549,347.10
Divident receivable 240,000.00
Other receivables 24,164,390.90 15,661,424.30
Inventory 1,055,464,357.23 1,079,876,029.63
Non-current assets due within 1 year
Other current assets 4,112,264.40 15,143,422.57
6
Wafangdian Bearing Compnay Limited The Q1 Report for 2015
Total current assets 2,550,311,641.11 2,612,305,601.69
Non-current assets
Financial assets available-for-sale 2,000,000.00 2,000,000.00
Investments held-to-maturity
Long-term receivable
Long-term equity investment 211,583,897.67 211,583,897.67
Investment property
Fixed assets 552,518,837.43 565,949,871.82
Construction in progress 253,065,719.46 243,881,508.42
Construction materials
Fixed assets disposal
Biological assets
Gas and petrol assets
Intangible assets 118,276,140.62 119,333,165.54
Development expenditure
Goodwill
Long-term prepaid expense 703,296.77 767,854.39
Deferred tax assets 10,580,100.02 10,580,100.02
Other non-current assets
Total non-current assets 1,148,727,991.97 1,154,096,397.86
Total assets 3,699,039,633.08 3,766,401,999.55
Current liabilities
Short-term loan 498,000,000.00 498,000,000.00
Note payable 181,660,012.60 206,867,023.86
Accounts payable 1,314,427,339.46 1,296,111,095.77
Accounts received in advance 42,255,725.92 48,868,818.23
Commission charge payable
Employee benefits 10,706,350.60 12,247,600.92
Tax payable 1,353,450.21 1,092,872.50
Interest payable 10,282,493.00 5,942,500.00
Dividends payable
Other payables 112,961,695.44 135,496,360.01
Non-current liabilities due within I year 90,000,000.00 90,000,000.00
Other current liabilities 4,313,555.83 4,313,555.83
Total current liabilities 2,265,960,623.06 2,298,939,827.12
Non-current liabilities
Long-term loan 50,000,000.00 50,000,000.00
Debenture payable
Long-term payables
Special payables
Contingent liabilities 321,698.98 321,698.98
Deferred income 45,543,103.68 46,635,305.64
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 95,864,802.66 96,957,004.62
Total liabilities 2,361,825,425.72 2,395,896,831.74
7
Wafangdian Bearing Compnay Limited The Q1 Report for 2015
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
Surplus reserve
Undistributed profit 131,442,909.11 131,442,909.11
Difference of foreign currency translation 317,492,854.99 350,783,815.44
Total owner’s equity 1,337,214,207.36 1,370,505,167.81
Total owner’s equity and liabilities 3,699,039,633.08 3,766,401,999.55
2 Income Sheet
Consolidated Income Sheet.
Unit: RMB Yuan
Item Account for the current period Account for the prior period
1.Total operating income 582,509,508.85 793,395,179.56
Including: Operating revenue 582,509,508.85 793,395,179.56
Interest income
Handling charge and commission income
2.Total operating cost 623,989,307.39 809,896,288.04
Including: Operating cost 544,451,687.38 732,653,807.31
Interest expenses
Handling charge and commission income
Tax & surcharges for main operations 2,729,670.51 3,223,170.86
Selling expenses 45,573,673.47 49,767,820.33
Administrative expense 20,352,173.79 17,319,595.82
Financial expense 10,866,638.63 5,898,961.36
Loss of impairment of assets 15,463.61 1,032,932.36
Add: Gains of change of fair value of assets(loss with"-")
Investment income(loss with "-") 285,931.87
Including: Income form investment on associated
0.00 285,931.87
enterprise and jointly enterprise
3.Operating profit (loss with"-") -41,479,798.54 -16,215,176.61
Add: Non-operating revenue 2,851,740.40 1,321,315.04
Less: Non-operating cost 165,238.11 492,125.91
Including: loss on disposal of non-current assets
4.Total profit(loss with"-") -38,793,296.25 -15,385,987.48
Less: Income tax expenses 264,036.88
5. Net profit(Loss with"-") -39,057,333.13 -15,385,987.48
Net profit attributable to shareholders of parent company -39,057,333.13 -15,385,987.48
Minority interests
6. Total comprehensive returns -39,057,333.13 -15,385,987.48
Total comprehensive returns available for parent
-39,057,333.13 -15,385,987.48
company
Total comprehensive returns available for minority
shareholders
8
Wafangdian Bearing Compnay Limited The Q1 Report for 2015
7.Earnings per share
(1) Basic earnings per share -0.10 -0.04
(2) Diluted earnings per share -0.10 -0.04
Chairman: Cong Hong 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 601,263,563.41 794,578,226.16
less: Operating cost 564,664,355.45 735,381,311.52
Tax & surcharges for main operations 2,351,572.00 2,872,005.09
Selling expenses 45,336,228.44 49,406,759.30
Administrative expense 13,057,173.60 13,072,175.03
Financial expense 10,795,524.55 6,194,867.78
Loss of impairment of assets 15,463.61 1,032,932.36
Add: Gains of change of fair value of assets(loss with"-")
Investment income(loss with "-") 285,931.87
Including: Income form investment on associated
0.00 285,931.87
enterprise and jointly enterprise
2.Operating profit (loss with"-") -34,956,754.24 -13,095,893.05
Add: Non-operating revenue 1,815,672.71 881,124.39
Less: Non-operating cost 149,878.92 484,682.15
Including: loss on disposal of non-current assets
3.Total profit(loss with"-") -33,290,960.45 -12,699,450.81
Less: Income tax expenses
4 Net profit(Loss with"-") -33,290,960.45 -12,699,450.81
5.othercomprehensive returns
6. Total comprehensive returns -33,290,960.45 -12,699,450.81
7.Earnings per share
(1) Basic earnings per share -0.08 -0.03
(2) Diluted earnings per share -0.08 -0.03
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 267,247,840.17 427,719,514.78
Refund of taxes and fares 129.17
Other cash received relating to operating activities 3,460,799.50 7,011,439.11
Sub-total of cash inflows 270,708,639.67 434,731,083.06
Cash paid for goods and services 202,103,611.79 284,014,566.39
9
Wafangdian Bearing Compnay Limited The Q1 Report for 2015
Cash paid to or on behalf of the employees 87,047,573.63 83,570,787.92
Tax payments 10,155,733.17 18,668,903.27
Other cash paid relating to operating activities 33,530,873.82 45,417,647.27
Sub-total of cash outflows 332,837,792.41 431,671,904.85
Net cash flows from operating activities -62,129,152.74 3,059,178.21
2.Cash flows from investing activities
Cash received from return of investment
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
Cash paid to acquire fixed assets, intangible assets and
other long-term assets 4,386,179.72 30,806,992.23
Cash paid to acquire investment 11,250,000.00
Net cash used in acquiring subsidiaries and other
operating units
Other cash paid relating to investing activities
Sub-total of cash outflows 15,636,179.72 30,806,992.23
Net cash flows from investment activities -15,636,179.72 -30,806,992.23
3.Cash flows from financing activities
Cash received from absorbing investment
Including: Cash received from increase in minority
interest
Proceeds from borrowings 237,579,700.00 195,000,000.00
Other proceeds relating to financing activities
Sub-total of cash inflows 237,579,700.00 195,000,000.00
Repayment of borrowings 185,000,000.00 156,322,611.11
Distribution of dividends or profits & interest expenses 6,695,721.40 9,244,840.15
Including: dividends or profit paid to minority interest
Cash paid for other financing activities
Sub-total of cash outflows 191,695,721.40 165,567,451.26
Net cash flows from financing activities 45,883,978.60 29,432,548.74
4. Effects of foreign exchange rate changes on cash 175,884.73 555,520.30
5.Net increases in cash and cash equivalents -31,705,469.13 2,240,255.02
Add: cash and cash equivalent, at the beginning of year 143,399,164.66 60,616,759.13
6.Cash and cash equivalent at the end of the year 111,693,695.53 62,857,014.15
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
10
Wafangdian Bearing Compnay Limited The Q1 Report for 2015
Cash received from sale of goods or rendering of
228,559,669.12 427,280,110.67
services
Refund of taxes and fares 129.17
Other cash received relating to operating activities 3,081,973.02 3,485,636.10
Sub-total of cash inflows 231,641,642.14 430,765,875.94
Cash paid for goods and services 185,387,176.36 296,041,579.55
Cash paid to or on behalf of the employees 69,873,721.15 72,265,092.72
Tax payments 7,102,970.58 15,432,843.06
Other cash paid relating to operating activities 28,762,533.51 40,528,459.70
Sub-total of cash outflows 291,126,401.60 424,267,975.03
Net cash flows from operating activities -59,484,759.46 6,497,900.91
2.Cash flows from investing activities
Cash received from return of investment
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
Cash paid to acquire fixed assets, intangible assets and
4,356,532.22 30,769,332.23
other long-term assets
Cash paid to acquire investment 11,250,000.00
Net cash used in acquiring subsidiaries and other
operating units
Other cash paid relating to investing activities
Sub-total of cash outflows 15,606,532.22 30,769,332.23
Net cash flows from investment activities -15,606,532.22 -30,769,332.23
3.Cash flows from financing activities
Cash received from absorbing investment
Including: Cash received from increase in minority
interest
Proceeds from borrowings 237,579,700.00 195,000,000.00
Other proceeds relating to financing activities
Sub-total of cash inflows 237,579,700.00 195,000,000.00
Repayment of borrowings 185,000,000.00 156,322,611.11
Distribution of dividends or profits & interest expenses 6,693,938.91 9,242,735.25
Including: dividends or profit paid to minority interest
Cash paid for other financing activities
Sub-total of cash outflows 191,693,938.91 165,565,346.36
Net cash flows from financing activities 45,885,761.09 29,434,653.64
4. Effects of foreign exchange rate changes on cash 175,884.73 555,520.30
5.Net increases in cash and cash equivalents -29,029,645.86 5,718,742.62
Add: cash and cash equivalent, at the beginning of year 135,518,792.14 56,478,876.74
6.Cash and cash equivalent at the end of the year 106,489,146.28 62,197,619.36
11
Wafangdian Bearing Compnay Limited The Q1 Report for 2015
4.2 Audited Report
The Q1 Report is not audited.
12
