Wafangdian Bearing Company Limited the Q3 Report for 2016
Wafangdian Bearing Company Limited
the Q3 Report for 2016
2016-36
October 2016
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.
Besides the following directors, all the other directors attended the Board meeting and discussed the report.
Name Post Reasons Assignee name
Tang Yurong director Busy work Fang Bo
The charger of company Mr. Meng Wei, 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
2016.09.30 2015.12.31 the end of current period and
last year
Total assets(RMB) 3,508,307,604.58 3,523,969,203.48 -0.44%
Owner’s Equity Attributed to
Shareholders of Listed 1,294,893,175.92 1,348,464,975.33 -3.97%
Company(RMB)
2016.07-.09 +/-(%) to period 2016.01-.09 +/-(%) to period
Turnover(RMB) 570,651,513.49 2.16% 1,696,106,545.47 -1.77%
Net profit attributable to shareholders of
-9,787,613.48 141.60% -53,811,799.41 -15.44%
the listed company(RMB)
Net profit attributable to the shareholders
of the
-13,571,344.70 65.91% -68,834,817.99 -6.47%
listed company and after deducting of
non-recurring gain/loss(RMB)
Net Cash flow generated by business
19,185,989.65 -89.32%
operation(RMB)
Basic earnings per share(Yuan/share) -0.02 50.00% -0.13 -18.75%
Diluted earnings per share(Yuan/share) -0.02 50.00% -0.13 -18.75%
Net assets yield (%) -0.74% -0.44% 0.64% 0.64%
Abnormal profit and loss items
√Applicable □Not applicable
Unit: Yuan
Abnormal profit and loss items 2016.01-2016.09
Profits and losses relating to disposal of fixed assets 4,573,254.10
Government grants recorded into profit or loss during current
8,394,496.96
period
Profits and losses relating to the debt restructure 3,346,522.56
Other non-business income and expenditures other than the above 517,334.25
1
Less: Influenced amount of income tax 1,808,589.29
Total 15,023,018.58
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
7282
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
Domestic
Huang Junyue 1.01% 4,050,000 0
shareholder
BOCI SECURITIES Foreign
0.55% 2,220,000 0
LIMITED shareholder
GUOTAI JUNAN
Foreign
SECURITIES(HONGK 0.47% 1,879,277
shareholder
ONG) LIMITED
Domestic
Hu Xiaofeng 0.46% 1,833,840 0
shareholder
Domestic
Jin Yunhua 0.33% 1,311,256 0
shareholder
CREDIT SUISSE
Foreign
(HONG KONG) 0.26% 1,049,915 0
shareholder
LIMITED
MAN,KWAI Foreign private
0.18% 713,101 0
WING文贵荣 shareholder
Domestic
Miao Jun 0.14% 550,000 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
Huang Junyue 4,050,000 B 4,050,000
BOCI SECURITIES LIMITED 2,220,000 B 2,220,000
GUOTAI JUNAN
1,879,277 B 1,879,277
SECURITIES(HONGKONG) LIMITED
Hu Xiaofeng 1,833,840 B 1,833,840
Jin Yunhua 1,311,256 B 1,311,256
CREDIT SUISSE (HONG KONG)
1,049,915 B 1,049,915
LIMITED
MAN,KWAI WING文贵荣 713,101 B 713,101
Miao Jun 550,000 B 550,000
Yang Yufei 502,278 B 502,278
2
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.
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
Unite:0000Yuan
Beginning End of year +/-(%) to
No. Items peirod Explanation
period
This period is mainly the increase in short-term
1 Monetary fund 20,538.1 11,631.6 76.6% borrowings of 108 million yuan, resulting in net cash
flow increased financing activities
Dividend reciivable with 240 thousand Yuan from
2 Dividend receivable - 24.0 -100.0%
ME at the beginning of the year
Accounts payable The main part of the supplier's pre paid less than
3 1,385.4 3,267.4 -57.6%
in advance the initial period
Accounts received in The main part of the customer's accounts
4 2,854.6 4,483.6 -36.3%
advance receivable early than the initial decrease
Mainly value-added tax and additional tax increase
5 Tax payable 1,520.4 607.4 150.3%
compared with the beginning
Mainly has been proposed to increase the interest
6 Interest payable 215.0 140.0 53.6%
rate of short-term loans increased
Non-current
Borrowings due within one year of the current
7 liabilities due within I - 5,000 -100.0%
period
year
2016.1.1- +/-(%) to
No. Items
9.30
Last peirod
period
Explanation
This is the main period of sales of goods in
Loss of impairment
10 -575.6 -368.5 56.2% stock, stock prices back to 5 million 760
of assets
thousand yuan.
First, the disposal of fixed assets revenue
increased 3 million 290 thousand yuan, the
reason is the disposal of the United States
Non-operating
11 1,883.9 1,182.8 59.3% gasoline fixed assets, the two is to increase the
revenue
assessment of the income of 1 million 50
thousand yuan this year, three government
subsidies increased 4 million 730 thousand yuan
3
First, the loss of debt restructuring, an increase of 1
million 200 thousand, other expenses increased by
12 Non-operating cost 200.7 74.8 168.5% 530 thousand, the reason is that the current pay
employees a one-time personal injury damages 550
thousand
Other cash received
This period is mainly received government grants
13 relating to operating 836.6 222.9 275.3%
increased
activities
Net cash received
from disposal of fixed
This period is mainly the sale of assets back to 10
14 assets, intangible 1,000.0 6.4 15525.0%
million
assets and other
long-term assets
Cash paid to acquire
fixed assets,
This period is mainly paid mill processing
15 intangible assets and 4,909.9 1,027.9 377.6%
equipment, 40 million 850 thousand yuan
other long-term
assets
The main period is ZWZ buy Dalian skf-wz
Cash paid to acquire Bearing Co., Ltd. 51% stake, the issuance of
16 - 1,125.00 -100.0%
investment bank credit 11 million 250 thousand yuan
payment due
This is the main period of audit according to the end
Other cash received
of 2015, a collection of this generation will discount,
17 relating to investing 33,884.43 -
while the accumulation in the sales of goods or
activities
services received cash. "
3.2 The situation of major items in progress and the analysis explanation on its effect and resolved
proposal.
None
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 2015
□ Applicable √Not applicable
3.5 Security investment information
Statement of holding other listing company equity
□Applicable √Not applicable
3.6 Statement of holding other listing company equity
□Applicable √Not applicable
3.7 Derivative products investment information
□ Applicable √Not applicable
3.8 Reception of investigations,communications,or interviews in the report period
Time/date Place Way Type of visitors Visitors Index catalog
Telephone
July 1,2016 Office Private investor Private investor
communication
4
Telephone
August 1,2016 Office Private investor Private investor
communication
Telephone
August 2,2016 Office Private investor Private investor
communication
Telephone
September 13,2016 Office Private investor Private investor
communication
Telephone
September 22,2016 Office Private investor Private investor
communication
Chapter IV Financial report
1. Consolidated Balance Sheet.
Unit: RMB Yuan
Item Closing Balance Opening Balance
Current assets ：
Monetary fund 205,380,757.28 116,316,020.57
Financial assets held-for-trading
Bills receivable 115,105,559.56 100,506,003.70
Account receivable 1,091,802,717.29 993,933,326.37
Account paid in advance 13,854,118.72 32,673,623.77
Interest receivable
Dividend receivable 240,000.00
Other receivables 25,768,591.71 21,462,837.65
Inventory 950,792,050.20 1,075,275,456.02
Non-current assets due within 1 year
Other current assets 9,535,550.89 8,973,032.78
Total current assets 2,412,239,345.65 2,349,380,300.86
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 601,505,743.69 695,125,451.81
Construction in progress 348,135,953.22 329,632,219.42
Construction materials
Fixed assets disposal
Biological assets
Gas and petrol assets
Intangible assets 132,034,975.49 135,366,608.09
Development expenditure
Goodwill
Long-term prepaid expense 538,319.26 611,356.03
Deferred tax assets 11,853,267.27 11,853,267.27
Other non-current assets
Total non-current assets 1,096,068,258.93 1,174,588,902.62
Total assets 3,508,307,604.58 3,523,969,203.48
Current liabilities
Short-term loan 493,000,000.00 385,000,000.00
Note payable 248,314,787.35 327,466,550.20
Accounts payable 1,007,934,227.58 973,485,937.22
Accounts received in advance 28,545,854.75 44,835,510.10
Commission charge payable
Accrued payroll 17,659,792.05 19,440,701.80
5
Tax payable 15,204,257.00 6,074,347.23
Interest payable 2,150,007.00 1,400,000.00
Dividends payable
Other payables 121,161,764.96 133,832,447.67
Non-current liabilities due within I year 50,000,000.00
Other current liabilities 4,651,103.83 4,411,103.83
Total current liabilities 1,938,621,794.52 1,945,946,598.05
Non-current liabilities
Long-term loan 230,000,000.00 180,000,000.00
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 41,885,200.86 46,650,196.82
Deferred tax liabilities 988,428.58 988,428.58
Other non-current liabilities
Total non-current liabilities 274,792,634.14 229,557,630.10
Total liabilities 2,213,414,428.66 2,175,504,228.15
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 275,159,216.34 328,731,015.75
Difference of foreign currency translation
Equity attributable to parent company 1,294,893,175.92 1,348,464,975.33
Minority interest
Total owner’s equity 1,294,893,175.92 1,348,464,975.33
Total owner’s equity and liabilities 3,508,307,604.58 3,523,969,203.48
Chairman: Meng Wei 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 191,898,073.84 108,582,231.28
Financial assets held-for-trading
Bills receivable 109,675,559.56 89,099,697.82
Account receivable 1,101,989,731.01 1,020,633,783.54
Account paid in advance 11,079,056.28 23,489,543.17
Interest receivable
Dividend receivable 240,000.00
Other receivables 22,385,861.56 19,679,695.34
Inventory 889,519,582.69 998,035,803.15
Non-current assets due within 1 year
Other current assets 6,043,269.92 4,828,826.85
Total current assets 2,332,591,134.86 2,264,589,581.15
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
6
Fixed assets 469,814,391.74 577,635,433.51
Construction in progress 242,614,109.42 204,617,819.76
Construction materials
Fixed assets disposal
Biological assets
Gas and petrol assets
Intangible assets 112,307,927.83 115,105,064.38
Development expenditure
Goodwill
Long-term prepaid expense 538,319.26 611,356.03
Deferred tax assets 10,580,100.02 10,580,100.02
Other non-current assets
Total non-current assets 1,049,438,745.94 1,122,133,671.37
Total assets 3,382,029,880.80 3,386,723,252.52
Current liabilities
Short-term loan 493,000,000.00 385,000,000.00
Note payable 248,314,787.35 327,466,550.20
Accounts payable 926,188,725.08 882,281,596.61
Accounts received in advance 25,237,563.13 44,003,546.25
Commission charge payable
Accrued payroll 10,518,744.54 11,902,749.05
Tax payable 11,691,084.23 3,381,449.54
Interest payable 2,150,007.00 1,400,000.00
Dividends payable
Other payables 82,537,588.82 94,547,419.88
Non-current liabilities due within I year 50,000,000.00
Other current liabilities 4,553,555.83 4,313,555.83
Total current liabilities 1,804,192,055.98 1,804,296,867.36
Non-current liabilities
Long-term loan 230,000,000.00 180,000,000.00
Debenture payable
Long-term payables
Special payables 321,698.98 321,698.98
Contingent liabilities
Deferred income 37,495,540.86 42,260,536.82
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 267,817,239.84 222,582,235.80
Total liabilities 2,072,009,295.82 2,026,879,103.16
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 131,442,909.11 131,442,909.11
Undistributed profit 290,299,232.61 340,122,796.99
Total owner’s equity 1,310,020,584.98 1,359,844,149.36
Total owner’s equity and liabilities 3,382,029,880.80 3,386,723,252.52
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 570,651,513.49 558,567,387.61
Including: Operating revenue 570,651,513.49 558,567,387.61
Interest income
Handling charge and commission income
7
2.Total operating cost 584,514,344.89 566,693,194.94
Including: Operating cost 516,065,410.83 493,527,210.67
Interest expenses
Handling charge and commission income
Tax & surcharges for main operations 3,617,930.44 2,421,993.72
Selling expenses 44,298,048.43 48,012,692.32
Administrative expense 17,851,425.15 18,602,138.28
Financial expense 8,438,341.22 7,829,159.95
Loss of impairment of assets -5,756,811.18 -3,700,000.00
Add: Gains of change of fair value of assets(loss with"-")
Investment income(loss with "-")
Including: Income form investment on associated
enterprise and jointly enterprise
3.Operating profit (loss with"-") -13,862,831.40 -8,125,807.33
Add: Non-operating revenue 4,834,367.10 4,933,416.65
Less: Non-operating cost 601,591.65 273,459.79
Including: loss on disposal of non-current assets
4.Total profit(loss with"-") -9,630,055.95 -3,465,850.47
Less: Income tax expenses 157,557.53 585,123.72
5. Net profit(Loss with"-") -9,787,613.48 -4,050,974.19
Net profit attributable to shareholders of parent company -9,787,613.48 -4,050,974.19
Minority interests
6. Other comprehensive returns
7. Total comprehensive returns -9,787,613.48 -4,050,974.19
Total comprehensive returns available for parent company -9,787,613.48 -4,050,974.19
Total comprehensive returns available for minority
shareholders
8.Earnings per share
(1) Basic earnings per share -0.02 -0.01
(2) Diluted earnings per share -0.02 -0.01
Chairman: Meng Wei 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 590,797,808.88 589,211,680.55
Less: Operating cost 541,938,280.53 526,991,318.71
Interest expenses
Handling charge and commission income
Tax & surcharges for main operations 3,246,628.88 2,256,282.97
Selling expenses 43,776,816.73 47,217,351.18
Administrative expense 12,115,770.97 12,446,800.32
Financial expense 8,448,440.95 8,001,209.26
Loss of impairment of assets -5,756,811.18 -3,700,000.00
Add: Gains of change of fair value of assets(loss with"-")
Investment income(loss with "-")
Including: Income form investment on associated
enterprise and jointly enterprise
2.Operating profit (loss with"-") -12,971,318.00 -4,001,281.89
Add: Non-operating revenue 3,510,626.12 4,270,935.89
Less: Non-operating cost 564,621.14 -25,581.70
Including: loss on disposal of non-current assets
3.Total profit(loss with"-") -10,025,313.02 295,235.70
Less: Income tax expenses
8
4. Net profit(Loss with"-") -10,025,313.02 295,235.70
5. Other comprehensive returns
6. Total comprehensive returns -10,025,313.02 295,235.70
7.Earnings per share
(1) Basic earnings per share -0.020
(2) Diluted earnings per share -0.020
5. Consolidated Income Sheet from the beginning of the year to the end of report period
Unit: RMB Yuan
Account for the current
Item Account for the prior period
period
1.Total operating income 1,696,106,545.47 1,726,661,066.95
Including: Operating revenue 1,696,106,545.47 1,726,661,066.95
Interest income
Handling charge and commission income
2.Total operating cost 1,766,592,395.22 1,800,530,325.64
Including: Operating cost 1,559,667,437.52 1,562,036,472.24
Interest expenses
Handling charge and commission income
Tax & surcharges for main operations 8,313,281.88 8,423,197.12
Selling expenses 129,040,734.31 146,600,947.71
Administrative expense 54,497,602.71 58,670,057.21
Financial expense 20,829,082.94 28,484,187.75
Loss of impairment of assets -5,755,744.14 -3,684,536.39
Add: Gains of change of fair value of assets(loss with"-")
Investment income(loss with "-")
Including: Income form investment on associated enterprise
and jointly enterprise
3.Operating profit (loss with"-") -70,485,849.75 -73,869,258.69
Add: Non-operating revenue 18,838,640.22 11,827,716.73
Less: Non-operating cost 2,007,032.35 747,525.79
Including: loss on disposal of non-current assets
4.Total profit(loss with"-") -53,654,241.88 -62,789,067.75
Less: Income tax expenses 157,557.53 849,160.60
5. Net profit(Loss with"-") -53,811,799.41 -63,638,228.35
Net profit attributable to shareholders of parent company -53,811,799.41 -63,638,228.35
Minority interests
6. Other comprehensive returns
7. Total comprehensive returns -53,811,799.41 -63,638,228.35
Total comprehensive returns available for parent company -53,811,799.41 -63,638,228.35
Total comprehensive returns available for minority shareholders
8.Earnings per share
(1) Basic earnings per share -0.13 -0.16
(2) Diluted earnings per share -0.13 -0.16
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 1,729,949,375.65 1,796,933,848.14
Less: Operating cost 1,607,950,444.59 1,640,357,250.59
Interest expenses
Handling charge and commission income
9
Tax & surcharges for main operations 7,346,262.32 7,557,358.99
Selling expenses 127,543,404.17 145,263,814.94
Administrative expense 35,828,333.56 38,383,946.71
Financial expense 20,852,114.98 28,949,528.26
Loss of impairment of assets -5,755,744.14 -3,684,536.39
Add: Gains of change of fair value of assets(loss with"-")
Investment income(loss with "-")
Including: Income form investment on associated
enterprise and jointly enterprise
2.Operating profit (loss with"-") -63,815,439.83 -59,893,514.96
Add: Non-operating revenue 15,688,741.19 10,831,843.84
Less: Non-operating cost 1,936,865.74 314,475.91
Including: loss on disposal of non-current assets
3.Total profit(loss with"-") -50,063,564.38 -49,376,147.03
Less: Income tax expenses
4. Net profit(Loss with"-") -50,063,564.38 -49,376,147.03
5. Other comprehensive returns
6. Total comprehensive returns -50,063,564.38 -49,376,147.03
7.Earnings per share
(1) Basic earnings per share -0.12 -0.12
(2) Diluted earnings per share -0.12 -0.12
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 857,736,739.73 1,083,562,127.88
Refund of taxes and fares 117,978.34
Other cash received relating to operating activities 8,365,849.98 2,228,854.32
Sub-total of cash inflows 866,220,568.05 1,085,790,982.20
Cash paid for goods and services 489,459,375.45 517,240,706.61
Cash paid to or on behalf of the employees 227,625,238.56 248,931,255.12
Tax payments 37,634,102.44 38,351,588.10
Other cash paid relating to operating activities 92,315,861.95 101,671,399.83
Sub-total of cash outflows 847,034,578.40 906,194,949.66
Net cash flows from operating activities 19,185,989.65 179,596,032.54
2.Cash flows from investing activities
Cash received from return of investment
Cash received from investment incomes 240,000.00
Net cash received from disposal of fixed assets, intangible
10,000,000.00 64,000.00
assets and other long-term assets
Proceeds from sale of subsidiaries and other operating
units
Other cash received relating to investing activities 240,000.00
Sub-total of cash inflows 10,480,000.00 64,000.00
Cash paid to acquire fixed assets, intangible assets and
49,098,685.37 10,279,239.83
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 49,098,685.37 21,529,239.83
Net cash flows from investment activities -38,618,685.37 -21,465,239.83
10
3.Cash flows from financing activities
Cash received from absorbing investment
Including: Cash received from increase in minority interest
Proceeds from borrowings 550,000,000.00 762,579,700.00
Other proceeds relating to financing activities 338,844,256.94
Sub-total of cash inflows 888,844,256.94 762,579,700.00
Repayment of borrowings 437,000,000.00 969,146,250.00
Distribution of dividends or profits & interest expenses 24,841,968.00 31,022,640.99
Including: dividends or profit paid to minority interest
Cash paid for other financing activities 300,000,000.00
Sub-total of cash outflows 761,841,968.00 1,000,168,890.99
Net cash flows from financing activities 127,002,288.94 -237,589,190.99
4. Effects of foreign exchange rate changes on cash 1,855,133.50 1,703,111.01
5.Net increases in cash and cash equivalents 109,424,726.72 -77,755,287.27
Add: cash and cash equivalent, at the beginning of year 78,556,030.56 143,399,164.66
6.Cash and cash equivalent at the end of the year 187,980,757.28 65,643,877.39
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 841,594,457.53 1,078,846,848.04
Refund of taxes and fares
Other cash received relating to operating activities 4,654,548.80 1,804,635.93
Sub-total of cash inflows 846,249,006.33 1,080,651,483.97
Cash paid for goods and services 532,986,279.54 588,613,875.16
Cash paid to or on behalf of the employees 185,417,346.48 199,318,780.39
Tax payments 27,853,525.07 29,000,550.13
Other cash paid relating to operating activities 86,926,925.85 90,567,105.02
Sub-total of cash outflows 833,184,076.94 907,500,310.70
Net cash flows from operating activities 13,064,929.39 173,151,173.27
2.Cash flows from investing activities
Cash received from return of investment
Cash received from investment incomes 240,000.00
Net cash received from disposal of fixed assets, intangible
10,000,000.00
assets and other long-term assets
Proceeds from sale of subsidiaries and other operating
units
Other cash received relating to investing activities 240,000.00
Sub-total of cash inflows 10,480,000.00
Cash paid to acquire fixed assets, intangible assets and
48,727,912.06 6,132,706.41
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 48,727,912.06 17,382,706.41
Net cash flows from investment activities -38,247,912.06 -17,382,706.41
3.Cash flows from financing activities
Cash received from absorbing investment
Including: Cash received from increase in minority interest
Proceeds from borrowings 550,000,000.00 762,579,700.00
Other proceeds relating to financing activities 338,844,256.94
Sub-total of cash inflows 888,844,256.94 762,579,700.00
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Repayment of borrowings 437,000,000.00 969,146,250.00
Distribution of dividends or profits & interest expenses 24,840,575.20 31,020,140.30
Including: dividends or profit paid to minority interest
Cash paid for other financing activities 300,000,000.00
Sub-total of cash outflows 761,840,575.20 1,000,166,390.30
Net cash flows from financing activities 127,003,681.74 -237,586,690.30
4. Effects of foreign exchange rate changes on cash 1,855,133.50 1,703,111.01
5.Net increases in cash and cash equivalents 103,675,832.57 -80,115,112.43
Add: cash and cash equivalent, at the beginning of year 70,822,241.27 135,518,792.14
6.Cash and cash equivalent at the end of the year 174,498,073.84 55,403,679.71
4.5 Audited report
Audit opinions: not audited.
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