Wafangdian Bearing Company Limited 2016Annual Report Abstract
Stock code：*ST200706 Stock ID:Wazhou B Announcement No.2017-14
Wafangdian Bearing Company Limited
2016 Annual Report Abstract
1. Important Notes
This abstract was derived from the annual report, the annual report issued on the Shenzhen Stock Exchange web
or other web appointed by and CSRC; details please refer to the whole annual report.
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
Reminder of the qualified auditor’s opinions
Inapplicable
Preplan of Profit Distribution for Common Stock or Preplan for Capitalization of the Reserves in theReporting Period
Reviewed by the Board Meeting
The Company’s profit distribution preplan upon review and approval of this board meeting: Based on the total 402,600,000
shares, a cash dividend of RMB 0.1 (tax included) will be distributed for every 10 shares held by shareholders.
Preplan of Profit Distribution for Preferred Shares in the Reporting Period Approved by the Resolution of the Board
Meeting
Inapplicable
(2) Brief Information of the listed company
(i) Brief Information of the company
Secretary of the Board Representative of StockA ffairs
Name Sun Najuan Ke Xin
No. 1 Beigongji Street, Wafangdian City, No. 1 Beigongji Street, Wafangdian City,
Correspondence address Liaoning Province, China. Liaoning Province, China.
Consulting telephone 0411-39116369 0411-39116732
Fax 0411-39116738 0411-39116738
E-mail zwz2308＠126.com zwz2308＠126.com
(ii). Principal Businesses in the Reporting Period
The scope of operation is: manufacture and sales of bearings, bearing components mechanical equipment, bearing
maintenance and technology service, automobile parts and fittings and other related products, lease of mechanical equipment
and buildings, and inspection of bearings and other related mechanical equipment and measure instruments.
Company has strong manufacturing capability and quality assurance capabilities, extensive services in railway, automobile,
metallurgy, mining and other industries and fields.
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Wafangdian Bearing Company Limited 2016Annual Report Abstract
(iii).Main accounting date
(1) Main accounting date in the near three years
Are there any retrospective adjustments or restatement of financial information of previous year due to change of accounting
policies or correcting of accounting errors?
[ ] Yes [V] No
In RMB Yuan
2016 2015 % 2014
Turnover(RMB) 2,493,926,556.67 2,300,161,296.48 8.42% 3,007,578,581.96
Net profit attributable to shareholders of the
30,872,950.22 -33,380,013.39 -192.49% -103,902,948.89
listed company(Yuan)
et profit attributable to the shareholders of
the listed company after deducting of -57,771,828.22 -66,446,677.65 -13.06% -190,819,385.15
non-recurring gain/loss(RMB)
Net Cash flow generated by business
20,520,061.16 -51,528,028.21 -139.82% 70,472,166.86
operation (RMB)
Basic earnings per share(Yuan/share) 0.08 -0.08 -195.85% -0.26
Diluted earnings per share(Yuan/share) 0.08 -0.08 -195.85% -0.26
Net return on equity(%) 2.26% -2.45% -192.39% -7.18%
End of 2016 End of 2015 % End of 2014
Total Assets (RMB) 3,553,947,227.09 3,523,969,203.48 0.85% 3,935,819,231.85
Owner’s Equity Attributed toShareholders of
1,379,337,925.55 1,348,464,975.33 2.29% 1,381,844,988.72
ListedCompany(RMB)
(2)Financial Data Summary based on Quarters
In RMB Yuan
s nd rd th
1 Quarter 2 Quarter 3 Quarter 4 Quarter
Operating revenue 534,404,100.68 591,050,931.30 570,651,513.49 797,820,011.20
Net profit attributable to the
2,340,344.55 -46,364,530.48 -9,787,613.48 84,684,749.63
Company’s shareholders
Net profit attributable to the
Company’s shareholders less -1,164,062.96 -53,569,130.53 -13,385,472.61 10,346,837.88
the non-recurring profit and loss
(iv) Shareholders and shares
(1) Information on the top 10 shareholders
Total common Total preference
Total preference
Total common shareholders at the end shareholders with
shareholders withthe
shareholders in of themonth before the voting power
voting power
7,192 7,044 0 not recovered at the end 0
the reporting before the date of recovered at theend
of the month before the
period disclosing the annual of the reporting
day of disclosingthe
report period (if any)
annual report
Shares held by the shareholders holding over 5% shares or the top ten shareholders
Shares held the end of the Number Number of Pledging or freezing
Quantity at
by the Shares held by reporting period of the the
the end of
Shareholder names top ten the top ten Increase/decreas non-restri restricted Status of
the reporting the Quantity
shareholder shareholders (%) e in the reporting cted shares
period shares
s period shares held
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Wafangdian Bearing Company Limited 2016Annual Report Abstract
held
Wafangdian
State-owned 244,000,0
Bearing Group 60.61% 244,000,000
shareholder 00
Corporation
AKTIEBOLAGET Foreign
19.70% 79,300,000 Frozen 79,300,000
SKF shareholder
Domestic
Huang Junyue 1.01% 4,050,000
shareholder
BOCI SECURITIES Foreign
0.58% 2,320,000
LIMITED shareholder
Foreign
Hu Xiaofeng 0.47% 1,879,277
shareholder
GUOTAI JUNAN
Domestic
SECURITIES(HON 0.37% 1,501,640
shareholder
GKONG) LIMITED
Domestic
Jin Yunhua 0.33% 1,311,256
shareholder
CREDIT SUISSE
Foreign
(HONG KONG) 0.26% 1,049,915
shareholder
LIMITED
Foreign
MAN,KWAI WING private 0.18% 713,101
shareholder
Domestic
Zhou Junlin 0.14% 545,600
shareholder
About the fact that a strategic
investor or
ordinary corporate became one of In the report period, the frozen period of the shares purchased by the company’s strategic
the top investor AKTIEBOLAGET SKF expired in 1999, and has not dealt with the releasing-procedure in
ten shareholders due to this report period. SKF dealt with the releasing-procedure on February 2017
placement of new
shares (if any) (Refer to Note 3)
Top ten common shareholders
conducting securities margin
trading
（2） Total Preference Shareholders and the Shares Held by the Top 10 Preference Shareholders
Inapplicable
(3)Relationship of the property right and controlling between the Company and actual controller:
Dalian MunicipalGovernment State-owned Assets
Supervising and Managing committee
Innovation Investment Dalian Equipment Manufacture Investment Zhong Cheng Company Limited
Company Company Limited
Wafangdian Bearing Group Company
Wafangdian Bearing Company Ltd
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Wafangdian Bearing Company Limited 2016Annual Report Abstract
3.Discussion and analysis
(1)general information in the report peiord
2016, the market competition is more intense, product prices decline, profit margins narrowed. The market competition trend
of domestic and international market, the internationalization of domestic competition is becoming more and more serious,
bearing products, international and domestic market sales prices continue to decline trend, product gross margin decline,
which constitutes a major threat to the enterprise to improve operation quality.
During the reporting period, the company achieved operating income of 2 billion 493 million 926 thousand and 600 yuan, an
increase of 8.42% over the previous year, net profit of $30 million 873 thousand, which belongs to the parent company owner
net profit of $30 million 873 thousand. As of the end of 2016, the company's total assets of 3 billion 554 million yuan, an
increase of more than the end of last year, the net assets attributable to shareholders of listed companies was $1 billion 379
million, compared with the end of last year increased by 2.29%.
(2) Did there exist any significant change in the principal business in the reporting period
No
(3) Products taking over 10% of the Operating Revenue or Operating Profit
Year-on-year
Year-on-yearincrease ear-on-year
increase/decrease
Operating Operating Gross /decrease of perating increase/decrease of
of gross profit rate
revenue profit profit rate revenue over operating profit over
over the previous
the previous year the previous year
year
Bearing 2,011,830,831.63 206,731,838.78 10.28% -1.50% -1.54% 0.04%
(4)Did there exist seasonal or periodic characteristics necessary to pay special attention to
No.
(5)Note to operating revenue, operation cost or total profit attributable to the Company’s common
shareholders in the reporting period or composition of significant change in the previous reporting
period
Compared with the previous reporting period, net profit for the reporting period rose sharply, mainly increased: other business
gross profit increased by 9 million 830 thousand yuan, expenses for the period decreased by 31 million 610 thousand yuan, of
which sales expenses fell 13 million 560 thousand yuan, down 11 million 440 thousand yuan management fees, financial
expenses decreased 6 million 600 thousand yuan, operating income increased by 68 million 560 thousand yuan. Main items:
reduce the profit of main business gross profit decreased 1 million 460 thousand yuan (mainly by the number of product sales
and sales prices, impact) impairment losses increased by 34 million 610 thousand; operating expenses increased by 2 million
920 thousand yuan.
(6)Potential suspension and delisting
Inapplicable
(7). Matters concerning the Financial Report
(i) Note to the change in the accounting policy, accounting estimate and accounting method in
comparison with the financial report of the previous year
Inapplicable
(ii) Note to the situation that it is necessary to make retrospective restatement to order to correct the
serious accounting errors in the reporting period
Inapplicable
(iii) Note to the change of the scope of the consolidated statements in comparison with the previous
year.
Inapplicable
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