Wafangdian Bearing Compnay Limited The Q1 Report for 2019
Stock code: 200706 stock short form: Wazhou B Report code: 2019-09
Wafangdian Bearing Company Limited
The Q1 Report for 2019
§1 Important Notes
The 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.
Besides the following directors, all the other directors attended the Board meeting and discussed the report.
Name Post Reasons Assignee name
Liu Yuping Independent Diretor Busy work Wen Bo
Liang Shuang Independent Diretor Busy work Sun Kun
Chairman of the Board Mr. Meng Wei, Financial manager Ms.Sun Najuan, Accounting charger Ms.Sun Najuan hereby
confirms that the Financial Report of the quarterly report is true and complete.
§2 Major accounting data and shareholder change
1 .Major accounting data and financial indexes
Whether the company needs to retroactively adjust or restate previous accounting data
√Applicable Inapplicable
Retroactively adjust or restate the reason
Accounting policy change
Unit: RMB
Jan-Mar 2018 +/- to previous
Jan-Mar 2019 Before the After the
After the adjustment
adjustment adjustment
Operating income(Yuan) 475,596,504.32 486,916,871.06 486,916,871.06 -2.32%
Net profits attributed Shareholders(Yuan) 3,072,545.00 1,020,973.46 1,020,973.46 200.94%
Net profit (yuan) deducting non-recurring
gains and losses attributable to shareholders 53,267.40 -1,874,291.16 -1,874,291.16 -102.84%
of the listed company
Net cash flows from operation activities -40,453,537.22 60,684,129.17 60,684,129.17 -166.66%
Basic gains on per share 0.0080 0.003 0.0030 166.67%
Diluted gains on per share 0.0080 0.003 0.0030 166.67%
Weighted average return on equity(yuan) 0.22% 0.07% 0.07% 0.15%
2018.12.31 +/- to previous
2019.3.31 Before the After the
After the adjustment
adjustment adjustment
Total assets(yuan) 3,249,655,930.90 3,219,926,745.82 3,219,926,745.82 0.92%
Owners’ equity (shareholders’ equity)(yuan) 1,383,100,225.64 1,386,515,848.17 1,386,515,848.17 -0.25%
2017 promulgated by the Ministry of Finance to “the Accounting Standards for Enterprises No. 22 - Recognition and Measurement of Financial
Instruments”(Finance and Accounting [2017]No. 7), “the Accounting Standards for Enterprises No. 23 - Transfer of Financial Assets (Finance and
Accounting [2017]No. 8), “the Accounting Standards for Enterprises No. 24 - Hedging Accounting”( Finance and accounting [2017]No. 9), “the
Accounting Standards for Enterprises No. 37 - Presentation of Financial Instruments” (Finance and Accounting [2017] No. 14), requirement of
domestic listed companies shall enter into force as of January 1, 2019 new financial instruments accounting standards.
1
Wafangdian Bearing Compnay Limited The Q1 Report for 2019
On June 15, 2018 promulgated by the Ministry of Finance “on the Revised Printed and Distributed to 2018 annual General Corporate Financial
Statements Format Notice”(Finance and Accounting [2018] no. 15 )(hereinafter referred to as the "Finance and Accounting [2018] 15"), calling for
the accounting standards for enterprises to non-financial companies according to the revised general enterprise financial report format (applicable
to not implement new financial rules and new income criterion of enterprises) to prepare its financial statements. In accordance with the above
notice and the provisions and requirements of the above accounting standards for enterprises, the company shall make corresponding changes to
the original accounting policies.
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 -1,339.32
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 1,842,138.97
policy, or in accordance with fixed standards or quantities
Profit of loss from debts restructuring 610,883.60
Other non-business income and expenditures other than the above 921,795.28
Influenced amount of income tax 354,200.93
Total 3,019,277.60 -
For the company according to the "Company Information Disclosure of Securities for Public Issuance Explanatory Announcement No. 1 -
Non-Recurring Profit and Loss "define non-recurring gains and losses as defined in the project, and put the "company information disclosure of
securities for public issuance explanatory announcement No. 1 - non-recurring profit and loss of non-recurring profit and loss items "defined as
listed in the current profits and losses of the project, should be explained the reasons.
Applicable Inapplicable
During the reporting period of the company, there is no circumstance that the non-recurring profit and loss items listed in the explanatory notice no.
1 -- non-recurring profit and loss of the company information disclosure of publicly issued securities are defined as recurring profit and loss items.
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
6,552 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 SKF Foreign shareholder 19.70% 79,300,000
China Merchants
Securities Hong Kong State-owned shareholder 1.74% 7,020,138
Limitied
Huang Junyue Domestic shareholder 1.59% 6,390,668
Hu Xiaofeng Domestic shareholder 0.47% 1,879,277
GUOTAI JUNAN
SECURITIES(HONGKO Foreign shareholder 0.35% 1,412,406
NG) LIMITED
Jin Yunhua Domestic shareholder 0.33% 1,311,256
Chen Haitao Domestic shareholder 0.19% 750,896
MAN,KWAI WING Foreign shareholder 0.18% 713,101
Meng Qingliang Domestic shareholder 0.17% 694,948
Top Ten Tradable Shareholders
Category of Shares
Name Current shares held at end of year
Categories Amount
2
Wafangdian Bearing Compnay Limited The Q1 Report for 2019
AKTIEBOLAGET SKF 79,300,000 B 79,300,000
China Merchants Securities Hong Kong B
7,020,138 7,020,138
Limitied
Huang Junyue 6,176,158 B 6,176,158
Hu Xiaofeng 1,879,277 B 1,879,277
GUOTAI JUNAN B
1,441,206 1,441,206
SECURITIES(HONGKONG) LIMITED
Jin Yunhua 1,311,256 B 1,311,256
Chen Haitao 750,896 B 750,896
MAN,KWAI WING 713,101 B 713,101
Meng Qinglliang 587,584 B 587,584
Zhou Lin 575,100 B 575,100
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 and the Top Ten Tradable shareholders, 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
Closing Opening (+/_) (+/_)
No. Item Reasons for Change
Amount Amoount Amoumount Ratio
Liaoyang bearing received 59.63 million yuan from
1 Other Receivables 3,564 9,226 -5,661 -61.4%
Liaoyang Land Acquisition and Storage Center
It is the short-term loan interest that does not have
Other payables-Interest
2 17 75 -58 -77.4% maturity to pay at the beginning of the plan basically is
payable
750,000 yuan
Research and This is mainly due to the increase in the cost of product
3 154 94 59 62.7%
development expense research and development abroad
During the same period, wuxi branches recovered 13,000
Loss of impairment of
4 - -1 1 -100.0% yuan of receivables of Wuxi Simles Petroleum Special
assets
Pipe Manufacturing Co., LTD
In this period, 798 thousand yuan is allocated for the
5 Other Income 184 108 76 69.9% project of fully automatic testing line before the railway
truck bearing ring is installed
Proceeds from disposal of It is the same period last year to confirm the sale of real
6 - 24 -24 -100.0%
assets estate prandang shop income of 240,000 yuan
7 Non-operating expense 7 2 5 267.6% Non-operating expenses of subsidiaries
Mainly, Liaoyang bearing received 59.63 million yuan
Other cash received
from liaoyang land acquisition and storage center and 1.2
8 relating to operating 6,148 61 6,087 9950.4%
million yuan from shenyang jinhongyun material recycling
activities
Co., LTD
Cash paid for goods and
9 15,412 5,283 10,129 191.7% Increased payments to suppliers.
services
The main reason is that the VAT paid has decreased by
14.05 million yuan year-on-year,real estate tax and land
10 Tax payments 1,150 2,548 -1,398 -54.9%
use tax will be paid quarterly instead of monthly from
January 1, 2019, down by 860,000 yuan year-on-year.
In this period, Liaoyang bearing paid 59.63 million yuan of
Other cash paid relating to loan and interest compensation to baolin company, and
11 9,618 2,583 7,035 272.4%
operating activities paid 9 million yuan of group lease fee and trademark use
fee
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Wafangdian Bearing Compnay Limited The Q1 Report for 2019
Net cash received from This period received 800,000 yuan of equipment from
disposal of fixed assets, Haerbin Ruiying Metal Materials Recycling Co., LTD., and
12 80 125 -45 -36.1%
intangible assets and other 1,251,000 yuan of property income from the sale of dalian
long-term assets during the same period
Cash paid to acquire fixed
The main reason is that the payment to suppliers has
13 assets, intangible assets 108 68 40 58.5%
increased in this period
and other long-term assets
Cash Repayments of Mainly affected by the inverted loan, so that the current
14 5,000 9,206 -4,206 -45.7%
Amount Borrowed payment of debt to reduce cash on a year-on-year basis
Cash paid for other Mainly is easy to reach financing and orders under the
15 4,200 12,472 -8,272 -66.3%
financing activities currency financing repayment year-on-year decrease
Effects of foreign
Mainly is the US dollar against the RMB exchange rate
16 exchange rate changes on -97 -74 -23 31.4%
continues to decline, exchange losses increased
cash
2 Progress of significant events, their influence, and analysis and explanation of their solutions
□Applicable √Inapplicable
Implementation progress of share repurchase
□Applicable √Inapplicable
Implementation progress of share buyback reduction through centralized bidding
□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
During the reporting period of the company, there are no commitments made by the actual controller, shareholders, related parties, acquirers and
other relevant parties of the company that have not been fulfilled within the reporting period.
4 Estimation of accumulative net profit from Jan to June 2019
It is predicted that the accumulative net profit from the beginning of the year to the end of the next reporting period may be a loss or a warning and
explanation of reasons for a substantial change compared with the same period of the previous year
□Applicable √Inapplicable
5 Particular about security investment
□Applicable √Inapplicable
There is no security investment in the company during the reporting period.
6 Particular about derivatives
□Applicable √Inapplicable
There is no derivative investment during the reporting period.
7 Activities on receiving research, communication and interview in the report period
Time Method Object Content and documents supplied
2019.02.25 Telephone communication Private investor The company's production and operation situation
2019.03.15 Telephone communication Private investor The company's production and operation situation
8 Illegal external guarantee
□Applicable √Inapplicable
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Wafangdian Bearing Compnay Limited The Q1 Report for 2019
There is no violation of external guarantee during the reporting period.
9 Controlling shareholder and its related parties to the listing Corporation's non operating funds
□Applicable √Inapplicable
During the reporting period of the company, there is no non-operating capital occupied by the controlling shareholder or its related parties to the
listed company.
§4 Appendix
I、 Balance sheet
Consolidated Balance Sheet.
Preparation unit: Wafangdian Bearing Co., LTD
March31, 2019
Unit: RMB Yuan
Item March31, 2019 December31, 2018
Current assets ：
Monetary fund 234,840,446.02 247,229,860.99
Financial asset measured at FV and any
337,446.44 298,925.16
change recognized in income
Notes receivable & Accounts receivable 1,282,270,075.91 1,235,257,555.58
Including: Notes receivable 83,637,332.35 93,624,563.82
Accounts receivable 1,198,632,743.56 1,141,632,991.76
Advances to suppliers 25,468,771.14 21,885,856.45
Other receivable 35,642,984.14 92,255,736.14
Including: Interest receivable
Dividend reciivable 1,250,000.00 1,250,000.00
Inventory 739,994,060.25 747,511,054.75
Other current assets 12,172,853.51 14,184,383.36
Total current assets 2,330,726,637.41 2,358,623,372.43
Non- current assets：
Financial assets available-for-sale 2,000,000.00 2,000,000.00
Other equity vehicle investments 2,503,766.95
Investment property 127,685,590.13 129,270,498.66
Fixed assets 639,314,408.36 661,598,663.85
Construction in progress 49,794,947.10 48,159,927.20
Intangible assets 84,869,964.88 85,667,085.86
Long-term prepaid expense 1,121,368.04 1,208,536.46
Deferred tax assets 11,639,248.03 11,639,248.03
Other non-current assets
Total non-current assets 918,929,293.49 939,543,960.06
Total assets 3,249,655,930.90 3,298,167,332.49
Current liabilities
Short-term loan 570,000,000.00 620,000,000.00
Note payable and Accounts payable 1,126,224,880.69 1,058,073,857.65
Accounts received in advance 15,767,196.95 21,286,971.52
Employee benefits 12,125,985.21 12,248,327.93
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Wafangdian Bearing Compnay Limited The Q1 Report for 2019
Tax payable 7,879,039.11 7,242,006.46
Other payables 68,074,272.28 131,854,654.39
Including: Interest payable 168,910.71 748,135.28
Dividends payable 360,000.00 360,000.00
Other current liabilities 4,920,248.12 4,920,248.12
Total current liabilities 1,804,991,622.36 1,855,626,066.07
Non-current liabilities
Long-term loan 396,698.98 396,698.98
Deferred income 60,330,511.77 61,284,650.74
Deferred tax liabilities 836,872.15 836,872.15
Other non-current liabilities
Total non-current liabilities 61,564,082.90 62,518,221.87
Total liabilities 1,866,555,705.26 1,918,144,287.94
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
Reasonable reserve 4,636.09
Surplus reserve 136,770,391.01 136,770,391.01
Undistributed profit 358,034,148.07 354,961,603.07
Equity attributable to parent company 1,383,100,225.64 1,380,023,044.55
Minority interest
Total owner’s equity 1,383,100,225.64 1,380,023,044.55
Total owner’s equity and liabilities 3,249,655,930.90 3,298,167,332.49
Chairman: Meng Wei General Accountant : Sun Najuan Accounting charger: Sun Najuan
2.Balance Sheet Of Parent Company
Unit: RMB Yuan
Item March31, 2019 December31, 2018
Current assets ：
Monetary fund 229,850,181.56 146,186,890.65
Financial assets held-for-trading
Financial asset measured at FV and any change
337,446.44 298,925.16
recognized in income
Notes receivable & Accounts receivable 1,283,255,483.61 1,299,378,046.46
Including：Notes receivable 80,692,449.83 89,620,372.80
Accounts receivable 1,202,563,033.78 1,209,757,673.66
Advances to suppliers 22,552,458.71 19,008,909.78
Other receivable 18,255,586.75 14,963,827.46
Including: Interest receivable
Dividend reciivable 1,250,000.00 1,250,000.00
Inventory 678,175,584.60 680,255,742.99
Other current assets 12,164,484.72 13,765,726.62
Total current assets 2,244,591,226.39 2,173,858,069.12
Non-current assets：
Financial assets available-for-sale 2,000,000.00 2,000,000.00
long-term equity investment 211,583,897.67 211,583,897.67
Other equity vehicle investments 2,503,766.95
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Wafangdian Bearing Compnay Limited The Q1 Report for 2019
Investment property 111,940,460.31 113,277,687.13
Fixed assets 442,868,798.60 460,415,212.74
Construction in progress 49,177,198.00 47,699,459.65
Intangible assets 67,063,680.90 67,683,392.22
Long-term prepaid expense 944,491.06 1,017,695.53
Deferred tax assets 10,350,000.00 10,350,000.00
Other non-current assets
Total non-current assets 898,432,293.49 914,027,344.94
Total assets 3,143,023,519.88 3,087,885,414.06
Current liabilities
Short-term loan 570,000,000.00 620,000,000.00
Note payable and Accounts payable 1,036,730,809.87 929,608,079.68
Accounts received in advance 16,136,920.63 21,976,484.62
Employee benefits 5,481,785.76 5,520,469.68
Tax payable 4,481,301.17 4,783,202.06
Other payables 45,893,747.71 50,471,992.39
Including: Interest payable 168,910.71 748,135.28
Dividends payable 360,000.00 360,000.00
Other current liabilities 3,869,474.53 3,869,474.53
Total current liabilities 1,682,594,039.67 1,636,229,702.96
Non-current liabilities
long-term account payable 296,698.98 296,698.98
prospective liabilities 28,717,818.80 29,671,957.77
Deferred income
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 29,014,517.78 29,968,656.75
Total liabilities 1,711,608,557.45 1,666,198,359.71
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
Surplus reserve 136,770,391.01 136,770,391.01
Undistributed profit 406,366,128.16 396,638,220.08
Total owner’s equity 1,431,414,962.43 1,421,687,054.35
Total owner’s equity and liabilities 3,143,023,519.88 3,087,885,414.06
3. Consolidated Income Sheet.
Unit: RMB Yuan
Item Account for the current period Account for the prior period
1.Total operating income 475,596,504.32 486,916,871.06
Including: Operating revenue 475,596,504.32 486,916,871.06
2.Total operating cost 475,935,959.13 489,118,101.07
Including: Operating cost 412,133,312.96 427,512,808.83
Interest expenses
Tax & surcharges for main operations 4,382,352.34 4,462,341.83
Selling expenses 35,862,031.41 30,728,507.29
Administrative expense 13,963,367.61 15,486,196.42
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Wafangdian Bearing Compnay Limited The Q1 Report for 2019
Research and development expense 1,536,579.45 944,391.60
Financial expense 8,058,315.36 9,996,641.95
Including: interest expenses 6,536,531.45 7,099,339.02
interest revenue 269,689.67 123,089.85
Loss of impairment of assets -12,786.85
Credit impairment losses
Add:Other income 1,842,138.97 1,083,952.09
Investment income(loss with "-")
Gains of change of fair value of assets(loss with"-") 38,521.28
3.Operating profit (loss with"-") 1,541,205.44 -873,782.10
Add: Non-operating revenue 1,599,173.75 1,913,208.28
Less: Non-operating cost 67,834.19 18,452.72
4.Total profit(loss with"-") 3,072,545.00 1,020,973.46
Less: Income tax expenses
5. Net profit(Loss with"-") 3,072,545.00 1,020,973.46
(I) classification by business continuity
1.Net income from continuing operations (net loss
3,072,545.00 1,020,973.46
marked with "-")
2.Termination of net operating profit (net loss
marked with "-")
(II) classification by ownership
1.Net profit attributable to shareholders of parent
3,072,545.00 1,020,973.46
company
2.Minority interests
6. Total comprehensive returns
Total comprehensive returns available for parent
company
7.Total comprehensive income 3,072,545.00 1,020,973.46
The aggregate amount of earnings attributable to a
3,072,545.00 1,020,973.46
minority shareholder
8.Earnings per share
(1) Basic earnings per share 0.0080 0.0030
(2) Diluted earnings per share 0.0080 0.0030
If the enterprise is merged under the same control in the current period, the net profit realized by the merged party before the merger shall be:
yuan, and the net profit realized by the merged party in the previous period shall be: yuan.
Chairman: Meng Wei General Accountant : Sun Najuan Accounting charger: Sun Najuan
4.Income Sheet of Parent Company.
Unit: RMB Yuan
Item Account for the current period Account for the prior period
1.Total operating income 493,298,802.90 477,530,087.59
less: Operating cost 429,012,779.16 422,790,747.17
Tax & surcharges for main operations 3,703,799.12 3,751,536.66
Selling expenses 35,452,990.08 30,087,325.87
Administrative expense 8,848,725.26 9,655,185.72
Research and development expense 1,383,611.53 790,541.60
Financial expense 8,064,278.48 9,995,972.04
Including: interest expenses 6,536,531.45 7,099,339.02
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Wafangdian Bearing Compnay Limited The Q1 Report for 2019
interest revenue 258,298.35 119,642.32
Investment income(loss with "-") -12,786.85
Credit impairment losses
Add:Other income 1,842,138.97 972,738.97
Investment income(loss with "-")
Gains of change of fair value of
38,521.28
assets(loss with"-")
Proceeds from disposal of assets (loss
243,495.82
marked with "-")
2.Operating profit (loss with"-") 8,713,279.52 1,687,800.17
Add: Non-operating revenue 1,019,173.75 1,603,392.64
Less: Non-operating cost 4,545.19 7,042.25
3.Total profit(loss with"-") 9,727,908.08 3,284,150.56
Less: Income tax expenses
4 Net profit(Loss with"-") 9,727,908.08 3,284,150.56
(I) net profit from continuing operations
9,727,908.08 3,284,150.56
(marked with "-" for net loss)
(II) termination of net profit (net loss is
marked with "-")
5.The net after-tax amount of other
comprehensive income
6. Total comprehensive returns 9,727,908.08 3,284,150.56
7.Earnings per share
(1) Basic earnings per share 0.020 0.070
(2) Diluted earnings per share 0.020 0.070
5.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
225,033,197.82 226,336,733.99
rendering of services
Other cash received relating to operating
61,483,446.38 611,751.60
activities
Sub-total of cash inflows 286,516,644.20 226,948,485.59
Cash paid for goods and services 154,120,728.93 52,828,756.15
Cash paid to or on behalf of the
65,170,626.74 62,128,678.39
employees
Tax payments 11,499,830.03 25,479,762.27
Other cash paid relating to operating
96,178,995.72 25,827,159.61
activities
Sub-total of cash outflows from
326,970,181.42 166,264,356.42
operating activities
Net cash flows from operating
-40,453,537.22 60,684,129.17
activities
2.Cash flows from investing activities
Cash received from return of investment
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Wafangdian Bearing Compnay Limited The Q1 Report for 2019
Net cash received from disposal of fixed
assets, intangible assets and other 800,000.00 1,251,120.00
long-term assets
Sub-total of cash inflows to investing
800,000.00 1,251,120.00
activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 1,083,584.14 683,673.19
assets
Cash paid to acquire investment
Sub-total of cash outflows to
1,083,584.14 683,673.19
investing activities
Net cash flows from investment
-283,584.14 567,446.81
activities
3.Cash flows from financing activities:
Cash received from absorbing
investment
Repayment of borrowings 90,000,000.00
Receiving other cash in connection with
92,190,000.00 89,906,186.11
financing activities
Sub-total of cash inflows from
92,190,000.00 179,906,186.11
financing activities
Cash Repayments of Amount Borrowed 50,000,000.00 92,064,872.18
Distribution of dividends or profits &
6,527,633.56 7,501,070.67
interest expenses
Including: dividends or profit paid to
minority interest
Cash paid for other financing activities 42,000,000.00 124,724,590.83
Sub-total of cash outflows from
98,527,633.56 224,290,533.68
financing activities
Net cash flows from financing
-6,337,633.56 -44,384,347.57
activities
4. Effects of foreign exchange rate
-966,541.68 -735,429.55
changes on cash
5.Net increases in cash and cash
-48,041,296.60 16,131,798.86
equivalents
Add: cash and cash equivalent, at the
188,431,805.23 58,043,497.54
beginning of year
6.Cash and cash equivalent at the end
140,390,508.63 74,175,296.40
of the year
6.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
223,596,147.47 222,170,455.44
rendering of services
Refund of taxes and fares
Other cash received relating to operating
1,836,506.49 601,928.03
activities
Sub-total of cash inflows from
225,432,653.96 222,772,383.47
operating activities
Cash paid for goods and services 108,334,301.75 66,352,243.97
Cash paid to or on behalf of the 54,378,350.55 49,375,461.40
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Wafangdian Bearing Compnay Limited The Q1 Report for 2019
employees
Tax payments 9,413,771.31 22,630,109.61
Other cash paid relating to operating
34,693,242.89 23,702,418.65
activities
Sub-total of cash outflows 206,819,666.50 162,060,233.63
Net cash flows from operating activities 18,612,987.46 60,712,149.84
2.Cash flows from investing activities
Net cash received from disposal of fixed
assets, intangible assets and other 800,000.00 1,251,120.00
long-term assets
Sub-total of cash inflows 800,000.00 1,251,120.00
Cash paid to acquire fixed assets,
intangible assets and other long-term 1,079,094.14 670,583.19
assets
Sub-total of cash outflows 1,079,094.14 670,583.19
Net cash flows from investment
-279,094.14 580,536.81
activities
3.Cash flows from financing activities：
Proceeds from borrowings 90,000,000.00
Other proceeds relating to financing
92,190,000.00 89,906,186.11
activities
Sub-total of cash inflows 92,190,000.00 179,906,186.11
Repayment of borrowings 50,000,000.00 92,064,872.18
Distribution of dividends or profits &
6,525,942.36 7,500,683.26
interest expenses
Cash paid for other financing activities 42,000,000.00 124,724,590.83
Sub-total of cash outflows 98,525,942.36 224,290,146.27
Net cash flows from financing activities -6,335,942.36 -44,383,960.16
4. Effects of foreign exchange rate
-966,541.68 -735,429.55
changes on cash
5.Net increases in cash and cash
11,031,409.28 16,173,296.94
equivalents
Add: cash and cash equivalent, at the
87,388,834.89 54,083,755.28
beginning of year
6.Cash and cash equivalent at the end
98,420,244.17 70,257,052.22
of the year
II. Adjustment statement of financial statements
1.First implementation of new financial instrument standards, new income standards, new lease standards
adjustment first implementation of financial statements at the beginning of the year.
Applicable Inapplicable
1.Consolidated Balance Sheet
Unit: RMB Yuan
Item December31, 2018 January1, 2019 Adjusted Amount
Current assets ：
Monetary fund 247,229,860.99 247,229,860.99
Trading financial assets Inapplicable
Financial asset measured at FV and any change
298,925.16 Inapplicable
recognized in income
11
Wafangdian Bearing Compnay Limited The Q1 Report for 2019
Notes receivable & Accounts receivable 1,235,257,555.58 1,235,257,555.58
Including: Notes receivable 93,624,563.82 93,624,563.82
Accounts receivable 1,141,632,991.76 1,141,632,991.76
Advances to suppliers 21,885,856.45 21,885,856.45
Other receivable 92,255,736.14 92,255,736.14
Including: Interest receivable
Dividend reciivable 1,250,000.00 1,250,000.00
Inventory 747,511,054.75 747,511,054.75
Contract assets Inapplicable
Other current assets 14,184,383.36 14,184,383.36
Total current assets 2,358,623,372.43 2,358,623,372.43
Non- current assets：
Creditors' investment Inapplicable
Financial assets available-for-sale 2,000,000.00 Inapplicable
Other creditors' investment Inapplicable
Held-to-maturity investment Inapplicable
Other equity vehicle investments Inapplicable
Other non-current financial assets Inapplicable
Investment property 129,270,498.66 129,270,498.66
Fixed assets 661,598,663.85 661,598,663.85
Construction in progress 48,159,927.20 48,159,927.20
Right-of-use asset Inapplicable
Intangible assets 85,667,085.86 85,667,085.86
Long-term prepaid expense 1,208,536.46 1,208,536.46
Deferred tax assets 11,639,248.03 11,639,248.03
Other non-current assets
Total non-current assets 939,543,960.06 939,543,960.06
Total assets 3,298,167,332.49 3,298,167,332.49
Current liabilities
Short-term loan 620,000,000.00 620,000,000.00
Trading financial liabilities Inapplicable
Financial liabilities measured at fair value and
Inapplicable
recorded in current profits and losses
Note payable and Accounts payable 1,058,073,857.65 1,058,073,857.65
Accounts received in advance 21,286,971.52 21,286,971.52
Employee benefits 12,248,327.93 12,248,327.93
Tax payable 7,242,006.46 7,242,006.46
Other payables 131,854,654.39 131,854,654.39
Including: Interest payable 748,135.28 748,135.28
Dividends payable 360,000.00 360,000.00
Contract liability Inapplicable
Other current liabilities 4,920,248.12 4,920,248.12
Total current liabilities 1,855,626,066.07 1,855,626,066.07
Non-current liabilities
Long-term loan 396,698.98 396,698.98
Lease liability Inapplicable
Deferred income 61,284,650.74 61,284,650.74
12
Wafangdian Bearing Compnay Limited The Q1 Report for 2019
Deferred tax liabilities 836,872.15 836,872.15
Other non-current liabilities
Total non-current liabilities 62,518,221.87 62,518,221.87
Total liabilities 1,918,144,287.94 1,918,144,287.94
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
Surplus reserve 136,770,391.01 136,770,391.01
Undistributed profit 354,961,603.07 354,961,603.07
Equity attributable to parent company 1,380,023,044.55 1,380,023,044.55
Minority interest
Total owner’s equity 1,380,023,044.55 1,380,023,044.55
Total owner’s equity and liabilities 3,298,167,332.49 3,298,167,332.49
Adjustment statement
Inapplicable
2.Parent balance sheet
Unit: RMB Yuan
Item December31, 2018 January1, 2019 Adjusted Amount
Current assets ：
Monetary fund 146,186,890.65 146,186,890.65
Trading financial assets Inapplicable
Financial asset measured at FV and any change recognized in
298,925.16 Inapplicable
income
Notes receivable & Accounts receivable 1,299,378,046.46 1,299,378,046.46
Including: Notes receivable 89,620,372.80 89,620,372.80
Accounts receivable 1,209,757,673.66 1,209,757,673.66
Advances to suppliers 19,008,909.78 19,008,909.78
Other receivable 14,963,827.46 14,963,827.46
Including: Interest receivable
Dividend reciivable 1,250,000.00 1,250,000.00
Inventory 680,255,742.99 680,255,742.99
Contract assets Inapplicable
Other current assets 13,765,726.62 13,765,726.62
Total current assets 2,173,858,069.12 2,173,858,069.12
Non- current assets：
Creditors' investment Inapplicable
Financial assets available-for-sale 2,000,000.00 Inapplicable
Other creditors' investment Inapplicable
Held-to-maturity investment Inapplicable
long-term equity investment 211,583,897.67 211,583,897.67
Other equity vehicle investments Inapplicable
Other non-current financial assets Inapplicable
Investment property 113,277,687.13 113,277,687.13
Fixed assets 460,415,212.74 460,415,212.74
Construction in progress 47,699,459.65 47,699,459.65
Right-of-use asset Inapplicable
13
Wafangdian Bearing Compnay Limited The Q1 Report for 2019
Intangible assets 67,683,392.22 67,683,392.22
Long-term prepaid expense 1,017,695.53 1,017,695.53
Deferred tax assets 10,350,000.00 10,350,000.00
Other non-current assets
Total non-current assets 914,027,344.94 914,027,344.94
Total assets 3,087,885,414.06 3,087,885,414.06
Current liabilities
Short-term loan 620,000,000.00 620,000,000.00
Trading financial liabilities Inapplicable
Financial liabilities measured at fair value and recorded
Inapplicable
in current profits and losses
Note payable and Accounts payable 929,608,079.68 929,608,079.68
Accounts received in advance 21,976,484.62 21,976,484.62
Contract liability Inapplicable
Employee benefits 5,520,469.68 5,520,469.68
Tax payable 4,783,202.06 4,783,202.06
Other payables 50,471,992.39 50,471,992.39
Including: Interest payable 748,135.28 748,135.28
Dividends payable 360,000.00 360,000.00
Other current liabilities 3,869,474.53 3,869,474.53
Total current liabilities 1,636,229,702.96 1,636,229,702.96
Non-current liabilities
Lease liability Inapplicable
Long-term loan 296,698.98 296,698.98
Anticipation liabilities 29,671,957.77 29,671,957.77
Deferred income
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 29,968,656.75 29,968,656.75
Total liabilities 1,666,198,359.71 1,666,198,359.71
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
Surplus reserve 136,770,391.01 136,770,391.01
Undistributed profit 396,638,220.08 396,638,220.08
Total owner’s equity 1,421,687,054.35 1,421,687,054.35
Total owner’s equity and liabilities 3,087,885,414.06 3,087,885,414.06
Adjustment statement
Inapplicable
2.The first implementation of the new financial instruments standards, the new lease standards
retroactively adjust the previous comparative data
Applicable Inapplicable
III.Audited Report
The Q1 Report is not audited.
14
