Wafangdian Bearing Compnay Limited The Q1 Report for 2017
Stock code: 200706 stock short form: *ST Wazhou B Report code: 2017-17
Wafangdian Bearing Company Limited
The Q1 Report for 2017
§ 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. Meng Wei , Financial manager Ms.Sun Najuan, Accounting charger Mr. Wang Jiyuan
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
Tang Yurong Diretor Busy work Fang Bo
§ 2 Major accounting data and shareholder change
1 Major accounting data and financial indexes
Unit: RMB
Jan-Mar 2017 Jan-Mar 2016 +/- to previous
Operating income(Yuan) 566,558,889.45 534,404,100.68 6.02%
Net profit attributable to shareholders of the listed company(Yuan) 1,998,535.48 2,340,344.55 -14.61%
Net profit attributable to the shareholders of the listed company
615,347.36 -1,164,062.96 -152.86%
after deducting of non-recurring gain/loss(RMB)
Net Cash flow generated by business operation
3,495,485.07 16,496,758.57 -78.81%
(RMB)
Basic earnings per share(Yuan/share) 0.0050 0.0060 -16.67%
Diluted earnings per share(Yuan/share) 0.0050 0.0060 -16.67%
Net return on equity(%) 0.14% 0.17% -0.03%
Jan-Mar 2017 Jan-Mar 2016 +/- to previous
Total assets 3,560,273,989.24 3,553,947,227.09 0.18%
Owners’ equity (shareholders’ equity) 1,381,336,461.03 1,379,337,925.55 0.14%
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 23,972.71
Gains and losses included in the current period of government subsidies, excluding those
government grants which are closely related to normal business and in line with national 1,285,388.97
policy, or in accordance with fixed standards or quantities
Profit of loss from debts restructuring 277,862.86
Other non-business income and expenditures other than the above -160,836.57
Influenced amount of income tax 43,199.85
Total 1,383,188.12 -
1
Wafangdian Bearing Compnay Limited The Q1 Report for 2017
2 Total number of shareholders at the end of the report period and shares held by the top ten shareholders
Unit: Share
Total number of shareholder at the end of Total number of shareholder at the end of report period with
7044 0
report period preferred stock
Shareholders with 5% or above Shares
Impawned or Frozen Shares
Total shares Non-current
Name Nature Ratio（%）
held shares held
Status Amount
Wafangdian Bearing
State-owned shareholder 60.61 244,000,000 244,000,000
Group Corporation
AKTIEBOLAGET
Foreign shareholder 19.70 79,300,000
SKF
Huang Junyue Domestic shareholder 1.16 4,680,000
BOCI SECURITIES
Foreign shareholder 0.94 3,772,700
LIMITED
Hu Xiaofeng Domestic shareholder 0.47 1,879,277
GUOTAI JUNAN
SECURITIES(HONG Foreign shareholder 0.36 1,456,040
KONG) LIMITED
Jin Yunhua Foreign shareholder 0.33 1,311,256
MAN,KWAI WING Domestic shareholder 0.18 713,101
Zhou Jie Domestic shareholder 0.16 630,000
Zhou Junlin Domestic shareholder 0.14 545,600
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
Huang Junyue 4,680,000 B 4,680,000
BOCI SECURITIES LIMITED 3,772,700 3,772,700
Hu Xiaofeng 1,879,277 B 1,879,277
GUOTAI JUNAN B
SECURITIES(HONGKONG) 1,456,040 1,456,040
LIMITED
Jin Yunhua 1,311,256 B 1,311,256
MAN,KWAI WING 文贵荣 713,101 B 713,101
Zhou Jie 630,000 B 630,000
Zhou Jun lin 545,600 B 545,600
Liao Yun 514,500 B 514,500
Explanation for the Affiliated Relations or
United Action of the Top Ten There was no relationship and consistent activities between the first big shareholder and other shareholders or
the top ten common stock holders; The relationship among other shareholders, top ten circulation shareholders,
Shareholders and the Top Ten Tradable top ten circulation shareholders and other shareholders was not clear.
Shareholders
§ 3 Significant items
1 Particulars dates changes over 30% in items of main accounting statement and financial index , and explanations of
reasons
√Applicable□Inapplicable Unite: 0000RMB Yuan
2
Wafangdian Bearing Compnay Limited The Q1 Report for 2017
The end of Beginning of
No Item % +/- to previous Reason
year year
Mainly the added-value taxand the
1 Tax payable 448 1,914.10 -1,466.10 -76.60%
attached is the beginning
Mainly according to the provisions of the
tax law, in May 2016 to implement the
camp change increases, taxes and
additional accounting business activities
of consumption tax, urban construction
business tax and tax, resource tax, educational expenses
2 510.1 248.4 261.7 105.30%
surcharges to add, property tax and land use tax,
stamp duty and other relevant taxes, so
will be in May 2016 after all management
cost of the tax adjustment to tax and
additional items, so the tax and
additional year-on-year growth.
Loss of
Mainly cancel after Close the accounts
3 impairment of 10 0.1 9.9 9254.00%
assets receivable from9.9millionYuan
1.A fine income fell；2.The government
Non-operating
4
revenue
163.8 442.3 -278.6 -63.00% subsidies fell；3.Debt restructuring gains
fell
Other cash Mainly at the same time receive the first
received relating
5
to operating
73.3 130.7 -57.4 -43.90% major technical equipment insurance
activities premium subsidies to 76 millionYuan.
Mainly operating income rose, make the
added-value tax and its attached
6 Tax payments 3,077.40 1,306.00 1,771.50 135.60%
year-on-year increase
Mainly because received from return of
7 Tax payments 24 -24 -100.00% investment of 2014 from ME with 240
thousand Yuan.
Net cash
received from
disposal of fixed Mainly received income for sold Property
8 487.7 487.7
assets, intangible Harbin
assets and other
long-term assets
Cash paid to
acquire fixed Mainly because the cash paid on fix
9 assets, intangible 110.3 162.7 -52.4 -32.20% asset investment decline compared with
assets and other last peirod.
long-term assets
Mainly due to the impact of credit, so that
Proceeds from
10
borrowings
13,300.00 28,500.00 -15,200.00 -53.30% the current payment of debt to pay the
cash reduction
Mainly due to the impact of credit, so
Repayment of
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borrowings
11,800.00 22,000.00 -10,200.00 -46.40% that the cash received in the current
period to reduce the cash
Mainly in current dollars for RMB
exchange rate fell 0.078 in January, the
RMB appreciation is bigger, exchange
Effects of foreign loss is bigger, 2, 3 months exchange
12 exchange rate -29.9 -54 24.1 -44.60% rates to rise, forming exchange earnings,
changes on cash the overall form exchange earnings,
earnings fell
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Wafangdian Bearing Compnay Limited The Q1 Report for 2017
2 Progress of significant events, their influence, and analysis and explanation of their solutions
□Applicable √Inapplicable
3 The company, shareholders, actual controller, the acquirer, directors, supervisors and senior management
personnel or other related parties to fulfill commitments and the final report has not been fulfilled in the reporting
period
□Applicable √Inapplicable
4 Estimation of accumulative net profit from Jan to June 2017
□Applicable √Inapplicable
5 Particular about security investment
□Applicable √Inapplicable
6 Particular about derivatives
□Applicable √Inapplicable
7 Activities on receiving research, communication and interview in the report period
Time Method Object Content and documents supplied
Company earnings forecast, to verify
2017.01.24 Telephone communication Private investor
2017.02.08 Telephone communication Private investor Whether Company can turnround and pick the cap
Understand the company's second-largest
2017.02.23 Telephone communication Private investor shareholder SKF thaw
The company's production and operation situation
2017.02..24 Telephone communication Private investor
Understand the company's second-largest
2017.02.27 Telephone communication Private investor shareholder SKF thaw
8 Illegal external guarantee
□Applicable √Inapplicable
9 Controlling shareholder and its related parties to the listing Corporation's non operating funds
□Applicable √Inapplicable
4
Wafangdian Bearing Compnay Limited The Q1 Report for 2017
§ 4 Appendix
1 Balance sheet
Consolidated Balance Sheet.
Unit: RMB Yuan
Item Opening Balance Closing Balance
Current assets ：
Monetary fund 132,266,945.30 184,416,042.97
Financial assets held-for-trading
Bills receivable 131,022,178.08 109,181,156.69
Account receivable 1,349,894,849.79 1,249,891,874.39
Account paid in advance 12,501,011.77 16,084,843.68
Interest receivable
Dividend reciivable
Other receivables 20,199,205.68 19,705,788.69
Inventory 804,872,590.26 842,429,282.92
Non-current assets due within 1 year
Other current assets 5,293,146.62 7,202,729.14
Total current assets 2,456,049,927.50 2,428,911,718.48
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 764,805,631.07 785,568,617.02
Construction in progress 195,393,119.31 194,439,963.77
Construction materials
Fixed assets disposal
Biological assets
Gas and petrol assets
Intangible assets 129,891,806.94 130,876,465.81
Development expenditure
Goodwill
Long-term prepaid expense 504,404.08 521,361.67
Deferred tax assets 11,629,100.34 11,629,100.34
Other non-current assets
Total non-current assets 1,104,224,061.74 1,125,035,508.61
Total assets 3,560,273,989.24 3,553,947,227.09
Current liabilities
Short-term loan 564,900,000.00 549,900,000.00
Note payable 330,262,040.12 425,514,610.26
Accounts payable 939,991,282.61 833,899,714.83
Accounts received in advance 26,265,754.22 26,959,477.14
Employee benefits 17,113,749.84 17,256,851.42
Tax payable 4,480,227.38 19,141,230.94
Interest payable 1,047,000.00 927,000.00
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Wafangdian Bearing Compnay Limited The Q1 Report for 2017
Dividends payable
Other payables 106,796,128.09 111,790,682.03
Non-current liabilities due within I year 90,000,000.00 90,000,000.00
Other current liabilities 4,519,772.50 4,704,022.50
Total current liabilities 2,085,375,954.76 2,080,093,589.12
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 296,698.98 296,698.98
Contingent liabilities
Deferred income 40,728,272.79 41,682,411.76
Deferred tax liabilities 939,295.96 939,295.96
Other non-current liabilities
Total non-current liabilities 93,561,573.45 94,515,712.42
Total liabilities 2,178,937,528.21 2,174,609,301.54
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 361,602,501.45 359,603,965.97
Equity attributable to parent company 1,381,336,461.03 1,379,337,925.55
Minority interest
Total owner’s equity 1,381,336,461.03 1,379,337,925.55
Total owner’s equity and liabilities 3,560,273,989.24 3,553,947,227.09
Chairman: Meng Wei General Accountant : Sun Najuan Accounting charger: Wang Jiyuan
2.Balance Sheet Of Parent Company
Unit: RMB Yuan
Item Opening Balance Closing Balance
Current assets ：
Monetary fund 116,953,175.29 160,858,258.16
Financial assets held-for-trading
Financial assets held-for-trading
Bills receivable 126,896,438.08 105,343,542.29
Account receivable 1,363,185,747.16 1,271,216,667.68
Account paid in advance 9,609,539.90 14,150,176.66
Divident receivable
Other receivables 19,343,431.28 18,675,828.91
Inventory 743,450,863.90 781,029,612.11
Non-current assets due within 1 year
Other current assets 3,257,774.16 4,853,373.30
Total current assets 2,382,696,969.77 2,356,127,459.11
Non-current assets
Financial assets available-for-sale 2,000,000.00 2,000,000.00
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Wafangdian Bearing Compnay Limited The Q1 Report for 2017
Investments held-to-maturity
Long-term receivable
Long-term equity investment 211,583,897.67 211,583,897.67
Investment property
Fixed assets 524,032,186.46 540,414,895.87
Construction in progress 195,077,950.91 194,408,579.15
Construction materials
Fixed assets disposal
Biological assets
Gas and petrol assets
Intangible assets 110,569,055.46 111,375,548.98
Development expenditure
Goodwill
Long-term prepaid expense 504,404.08 521,361.67
Deferred tax assets 10,355,933.09 10,355,933.09
Other non-current assets
Total non-current assets 1,054,123,427.67 1,070,660,216.43
Total assets 3,436,820,397.44 3,426,787,675.54
Current liabilities
Short-term loan 564,900,000.00 549,900,000.00
Note payable 330,262,040.12 425,514,610.26
Accounts payable 864,312,507.18 754,015,698.35
Accounts received in advance 26,171,269.90 26,840,178.68
Commission charge payable
Employee benefits 10,208,428.78 10,295,412.34
Tax payable 1,106,925.50 15,496,981.29
Interest payable 1,047,000.00 927,000.00
Dividends payable
Other payables 67,595,165.78 72,962,085.99
Non-current liabilities due within I year 90,000,000.00 90,000,000.00
Other current liabilities 4,422,224.50 4,606,474.50
Total current liabilities 1,960,025,561.76 1,950,558,441.41
Non-current liabilities
Long-term loan 50,000,000.00 50,000,000.00
Debenture payable
Long-term payables
Special payables 296,698.98 296,698.98
Contingent liabilities
Deferred income 36,436,160.79 37,390,299.76
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 86,732,859.77 87,686,998.74
Total liabilities 2,046,758,421.53 2,038,245,440.15
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
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Wafangdian Bearing Compnay Limited The Q1 Report for 2017
Less: treasury share
Surplus reserve 131,442,909.11 131,442,909.11
Undistributed profit 370,340,623.54 368,820,883.02
Difference of foreign currency translation
Total owner’s equity 1,390,061,975.91 1,388,542,235.39
Total owner’s equity and liabilities 3,436,820,397.44 3,426,787,675.54
3. Income Sheet
Consolidated Income Sheet.
Unit: RMB Yuan
Item Account for the current period Account for the prior period
1.Total operating income 566,558,889.45 534,404,100.68
Including: Operating revenue 566,558,889.45 534,404,100.68
Interest income
Handling charge and commission income
2.Total operating cost 565,986,741.94 536,186,588.49
Including: Operating cost 505,497,968.51 474,543,771.67
Interest expenses
Handling charge and commission income
Tax & surcharges for main operations
Selling expenses 34,751,390.67 35,418,510.77
Administrative expense 14,366,313.30 17,484,083.53
Financial expense 6,169,799.50 6,254,731.49
Loss of impairment of assets 99,810.61 1,067.04
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"-") 572,147.51 -1,782,487.81
Add: Non-operating revenue 1,637,735.74 4,423,429.08
Less: Non-operating cost 211,347.77 300,596.72
Including: loss on disposal of non-current assets
4.Total profit(loss with"-") 1,998,535.48 2,340,344.55
Less: Income tax expenses 264,036.88
5. Net profit(Loss with"-") 1,998,535.48 2,340,344.55
Net profit attributable to shareholders of parent company 1,998,535.48 2,340,344.55
Minority interests
6. Total comprehensive returns 1,998,535.48 2,340,344.55
Total comprehensive returns available for parent company 1,998,535.48 2,340,344.55
Total comprehensive returns available for minority shareholders
7.Earnings per share
(1) Basic earnings per share 0.0050 0.0060
(2) Diluted earnings per share 0.0050 0.0060
Chairman: Meng Wei General Accountant : Sun Najuan Accounting charger: W ang Jiyuan
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Wafangdian Bearing Compnay Limited The Q1 Report for 2017
Income Sheet of Parent Company.
Unit: RMB Yuan
Item Account for the current period Account for the prior period
1.Total operating income 578,832,790.50 547,810,933.56
less: Operating cost 525,737,899.81 493,808,513.55
Tax & surcharges for main operations 4,453,304.97 2,245,292.52
Selling expenses 34,274,027.82 34,948,306.61
Administrative expense 7,774,695.18 10,870,534.87
Financial expense 6,205,397.25 6,257,369.95
Loss of impairment of assets 99,810.61 1,067.04
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"-") 287,654.86 -320,150.98
Add: Non-operating revenue 1,410,722.23 3,513,983.78
Less: Non-operating cost 178,636.57 300,596.72
Including: loss on disposal of non-current assets
3.Total profit(loss with"-") 1,519,740.52 2,893,236.08
Less: Income tax expenses
4 Net profit(Loss with"-") 1,519,740.52 2,893,236.08
5.othercomprehensive returns
6. Total comprehensive returns 1,519,740.52 2,893,236.08
7.Earnings per share
(1) Basic earnings per share 0.0040 0.0070
(2) Diluted earnings per share 0.0040 0.0070
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 258,463,428.40 274,271,178.10
Refund of taxes and fares
Other cash received relating to operating activities 733,337.81 1,307,313.60
Sub-total of cash inflows 259,196,766.21 275,578,491.70
Cash paid for goods and services 139,213,588.09 141,358,864.87
Cash paid to or on behalf of the employees 60,632,595.73 80,393,546.42
Tax payments 30,774,210.27 13,059,673.43
Other cash paid relating to operating activities 25,080,887.05 24,269,648.41
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Wafangdian Bearing Compnay Limited The Q1 Report for 2017
Sub-total of cash outflows 255,701,281.14 259,081,733.13
Net cash flows from operating activities 3,495,485.07 16,496,758.57
2.Cash flows from investing activities
Cash received from return of investment 240,000.00
Net cash received from disposal of fixed assets, intangible assets and
other long-term assets 4,876,900.00
Proceeds from sale of subsidiaries and other operating units
Other cash received relating to investing activities
Sub-total of cash inflows 4,876,900.00 240,000.00
Cash paid to acquire fixed assets, intangible assets and other
1,102,634.77 1,626,653.53
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 1,102,634.77 1,626,653.53
Net cash flows from investment activities 3,774,265.23 -1,386,653.53
3.Cash flows from financing activities
Cash received from absorbing investment
Including: Cash received from increase in minority interest
Proceeds from borrowings 133,000,000.00 285,000,000.00
Other proceeds relating to financing activities 75,122,872.22 97,963,750.00
Sub-total of cash inflows 208,122,872.22 382,963,750.00
Repayment of borrowings 118,000,000.00 220,000,000.00
Distribution of dividends or profits & interest expenses 7,553,772.89 9,254,570.05
Including: dividends or profit paid to minority interest
Cash paid for other financing activities 140,000,000.00 140,000,000.00
Sub-total of cash outflows 265,553,772.89 369,254,570.05
Net cash flows from financing activities -57,430,900.67 13,709,179.95
4. Effects of foreign exchange rate changes on cash -299,085.97 -539,983.94
5.Net increases in cash and cash equivalents -50,460,236.34 28,279,301.05
Add: cash and cash equivalent, at the beginning of year 142,233,376.52 78,556,030.56
6.Cash and cash equivalent at the end of the year 91,773,140.18 106,835,331.61
Cash Flow Statement Of Parent Company. 母公司现金流量表
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 253,401,401.34 270,016,517.86
Refund of taxes and fares
Other cash received relating to operating activities 413,886.66 1,045,722.24
Sub-total of cash inflows 253,815,288.00 271,062,240.10
Cash paid for goods and services 144,789,732.13 154,491,640.64
Cash paid to or on behalf of the employees 47,299,447.64 66,051,711.98
Tax payments 26,733,496.94 10,750,789.10
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Wafangdian Bearing Compnay Limited The Q1 Report for 2017
Other cash paid relating to operating activities 23,254,522.62 22,488,603.33
Sub-total of cash outflows 242,077,199.33 253,782,745.05
Net cash flows from operating activities 11,738,088.67 17,279,495.05
2.Cash flows from investing activities
Cash received from return of investment 240,000.00
Net cash received from disposal of fixed assets, intangible assets and
4,867,900.00
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 4,867,900.00 240,000.00
Cash paid to acquire fixed assets, intangible assets and other
1,094,354.77 1,329,504.22
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 1,094,354.77 1,329,504.22
Net cash flows from investment activities 3,773,545.23 -1,089,504.22
3.Cash flows from financing activities
Cash received from absorbing investment
Including: Cash received from increase in minority interest
Proceeds from borrowings 133,000,000.00 285,000,000.00
Other proceeds relating to financing activities 75,122,872.22 97,963,750.00
Sub-total of cash inflows 208,122,872.22 382,963,750.00
Repayment of borrowings 118,000,000.00 220,000,000.00
Distribution of dividends or profits & interest expenses 7,551,641.69 9,253,847.45
Cash paid for other financing activities 140,000,000.00 140,000,000.00
Sub-total of cash outflows 265,551,641.69 369,253,847.45
Net cash flows from financing activities -57,428,769.47 13,709,902.55
4. Effects of foreign exchange rate changes on cash -299,085.97 -539,983.94
5.Net increases in cash and cash equivalents -42,216,221.54 29,359,909.44
Add: cash and cash equivalent, at the beginning of year 118,675,591.71 70,822,241.27
6.Cash and cash equivalent at the end of the year 76,459,370.17 100,182,150.71
2 Audited Report
The Q1 Report is not audited.
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