Wafangdian Bearing Company Limited The Q1 Report for 2020
Stock code: 200706 stock short form: Wazhou B Report code: 2019-06
Wafangdian Bearing Company Limited
The Q1 Report for 2020
§ 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.
All directors attended the Board meeting and discussed the report.
Chairman of the Board Mr. Liu Jun, 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
I .Major accounting data and financial indexes
Whether the company needs to retroactively adjust or restate previous accounting data
Applicable Inapplicable
Unit: RMB
Jan-Mar 2020 Jan-Mar 2019 +/- to previous
Operating income(Yuan) 443,933,160.23 475,596,504.32 -6.66%
Net profits attributed Shareholders(Yuan) 3,566,509.45 3,072,545.00 16.08%
Net profit (yuan) deducting non-recurring gains
and losses attributable to shareholders of the 480,209.31 53,267.40 801.51%
listed company
Net cash flows from operation activities 18,583,796.31 -40,453,537.22 -145.94%
Basic gains on per share 0.01 0.01 0.00%
Diluted gains on per share 0.01 0.01 0.00%
Weighted average return on equity(yuan) 0.29% 0.22% 0.07%
2020.3.31 2019.3.31 +/- to previous
Total assets(yuan) 3,113,471,137.68 2,961,477,469.55 5.13%
Owners’ equity (shareholders’ equity)(yuan) 1,230,008,293.61 1,226,441,398.45 0.29%
Items of non-recurring gains and losses
Applicable □ Inapplicable
Unit: RMB
Amount from the beginning of the
Items year to the end of the reporting Note
period
Gains and losses included in the current period of government subsidies,
excluding those government grants which are closely related to normal
1,070,896.92
business and in line with national policy, or in accordance with fixed
standards or quantities
Profit of loss from debts restructuring 615,294.66
Other non-business income and expenditures other than the above 出 1,509,610.29
Influenced amount of income tax 109,501.73
Total 3,086,300.14 --
For the company according to the "Company Information Disclosure of Securities for Public Issuance Explanatory Announcement No. 1 -
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Wafangdian Bearing Company Limited The Q1 Report for 2020
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.
II .Total number of shareholders at the end of the report period and shares held by the top ten shareholders
1、Table of the total number of common shareholders and the number of preferred shareholders and the
shareholding status of the top 10 shareholders
Unit:: Share
Total number of shareholder at the end Total number of shareholder at the end of report
6,249 0
of report period period with preferred stock (if any)
The holdings of the top 10 shareholders
Impawned or Frozen Shares
Total shares Non-current
Name Nature Ratio
held shares held
Status Amount
Wafangdian
State-owned
Bearing Group 60.61% 244,000,000 244,000,000
shareholder
Corporation
AKTIEBOLAGET Foreign
19.70% 79,300,000
SKF shareholder
China Merchants
State-owned
Securities Hong 1.90% 7,654,492
shareholder
Kong Limitied
Domestic
Huang Junyue 1.66% 6,672,268
shareholder
Domestic
Hu Xiaofeng 0.47% 1,879,277
shareholder
GUOTAI JUNAN
Foreign
SECURITIES(HON 0.37% 1,473,406
shareholder
GKONG) LIMITED
BOCI
Foreign
SECURITIES 0.24% 980,000
shareholder
LIMITED
Domestic
Jin Yunhua 0.21% 828,926
shareholder
Domestic
Chen Haitao 0.19% 750,996
shareholder
MAN,KWAI Domestic
0.18% 713,101
WING 文贵荣 shareholder
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
China Merchants Securities Hong Kong
7,654,492 B 7,654,492
Limitied
Huang Junyue 6,672,268 B 6,672,268
Hu Xiaofeng 1,879,277 B 1,879,277
GUOTAI JUNAN
1,473,406 B 1,473,406
SECURITIES(HONGKONG) LIMITED
BOCI SECURITIES LIMITED 980,000 B 980,000
Jin Yunhua 828,926 B 828,926
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Wafangdian Bearing Company Limited The Q1 Report for 2020
Chen Haitao 750,996 B 750,996
MAN,KWAI WING 713,101 B 713,101
Meng Qinglliang 694,948 B 694,948
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
Shareholders and the Top Ten Tradable circulation shareholders, top ten circulation shareholders and other shareholders was not clear.
Shareholders
Whether the top 10 common shareholders of the company and the top 10 common shareholders of the company with unlimited
conditions of sale shall carry out the agreed repurchase transaction during the reporting period
□ Yes √No
The top 10 common shareholders of the company and the top 10 common shareholders with unlimited conditions of sale did not
carry out the agreed repurchase transaction during the reporting period.
2. Table of the total number of preferred shareholders and the shareholding status of the top 10 preferred
shareholders
Applicable Inapplicable
§ 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 Amount Amount Ratio
Is basically current bank deposit increases compared
1 Monetary fund 30,760 18,365 12,395 67.5% with the beginning of the year, because this money
funds increases compared with the beginning of the
year
The amount of commercial paper receivable that has
2 Receivables 5,385 3,841 1,544 40.2% been endorsed or discounted but has not matured
financing increased from the beginning
3 Other current assets 67 351 -284 -80.9% Input tax is lower than at the beginning of the year
4 Salary payable 1,341 2,369 -1,028 -43.4% Initial benefit award
Current The same
(+/_) (+/_)
Item reporting period last Reasons for Change
Amount Ratio
period year
5 Cost of sales 2,378 3,586 -1,208 -33.7% Mainly is the year-on-year decrease in wages and
travel expenses
6 Research and 4,623 154 4,469 2901.9% Including the cost of manufacturing
development costs research and development expense
During the same period, we received the grant for
7 Other income 107 184 -77 -41.8% the project of automatic detection line before the
railway freight car bearing ring assembly
8 Non-operating 225 160 65 40.6% Mainly is the debt restructuring gains
income
9 Non-operating 12 7 5 71.4% Increase losses on debt restructuring
expenses
To receive other cash Liaoyang bearing received the land payment from
10 related to operating 144 6,148 -6,004 -97.7% the land payment center during the same period
activities
11 Payment of other 3,229 9,618 -6,389 -66.4% The land payment paid by liao axis to baolin
cash related to company during the same period
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Wafangdian Bearing Company Limited The Q1 Report for 2020
operating activities
Net cash recovered
from the disposal of
12 fixed assets, 0 80 -80 -100.0% Received equipment payment from Harbin Ruiying
intangible assets and metal material recovery co., LTD
other long-term
assets
13 To obtain the cash 6,000 0 6,000 Short-term loan from China construction bank
received on a loan during this reporting period
Other cash received
14 in connection with 4,157 9,219 -5,062 -54.9% Mainly due to the impact of financing, the current
fund-raising period received other cash related to financing
activities activities decreased
Payment of debt in Mainly due to the impact of reverse loans, so that
15 cash 0 5,000 -5,000 -100.0% the current debt repayment of cash payments
compared with the same period
16 Payment of other Mainly is Rongyida financing and orders under the
cash related to 0 4,200 -4,200 -100.0% currency financing repayment decreased
financing activities
The effect of
exchange rate
17 fluctuations on cash 85 -97 182 -187.6% Subject to exchange rate fluctuations
and cash equivalents
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. Particular about security investment
□Applicable √Inapplicable
There is no security investment in the company during the reporting period.
5.entrust financial management
□Applicable √Inapplicable
The report period of the company does not exist entrusted financial management.
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
Applicable □Inapplicable
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Wafangdian Bearing Company Limited The Q1 Report for 2020
Time Method Object Content and documents supplied
2020.01.16 Telephone communication Private investor The company's production and operation situation
2020.02.24. Telephone communication Private investor The company's production and operation situation
8 Illegal external guarantee
□Applicable √Inapplicable
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
Unit: RMB Yuan
Item March31, 2020 December31, 2019
Current assets ：
Monetary fund 307,603,721.71 183,648,867.58
Clearing reserves
Lending money
Trading financial assets 240,372.81 285,057.50
Derivative financial assets
Notes receivable
Accounts receivable 1,024,442,757.32 995,091,454.06
Receivables financing 167,925,195.64 179,578,623.48
Prepayments 35,267,184.63 27,516,943.54
Premiums receivable
Reinsurance accounts receivable
Reserve for reinsurance contracts
receivable
Other receivable 30,886,485.71 27,646,966.02
Including: Interest receivable
Dividend receivable
Buy and sell back financial assets
Inventory 730,255,629.09 704,467,062.61
Contract assets
Holding assets for sale
Non-current assets that mature
within one year
Other current assets 674,487.20 3,510,607.86
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Wafangdian Bearing Company Limited The Q1 Report for 2020
Total current assets 2,297,295,834.11 2,121,745,582.65
Non- current assets：
Make loans and advances
Creditor's rights investment
Other debt investments
Long-term receivables
Long-term equity investment
Investment in other equity instruments 11,926,856.64 11,926,856.64
Other non-current financial assets
Investment real estate 117,356,623.22 122,930,874.57
Fixed assets 570,427,692.89 587,452,012.49
Projects under construction 32,516,190.50 33,932,882.85
Productive biological assets
Oil and gas assets
Usage asset
Intangible assets 83,170,592.30 82,629,398.56
The development of spending
goodwill
Long-term deferred expenses 777,348.02 859,861.79
Deferred tax assets
Other non-current assets
Total non-current assets 816,175,303.57 839,731,886.90
Total assets 3,113,471,137.68 2,961,477,469.55
Current liabilities:
Short-term borrowing 715,000,000.00 655,000,000.00
Borrowing from the central bank
Funds borrowed from
Transactional financial liabilities
Derivative financial liability
Notes payable 243,354,976.79 250,019,501.69
Accounts payable 734,783,327.01 632,352,299.59
Advance payment 27,488,588.61
Contract liability 21,202,581.61
Sell repurchase of financial assets
Deposit taking and trade keeping
Acting to buy and sell securities
Acting to underwrite securities
Salary payable 13,411,911.15 23,693,082.54
Payable taxes 6,121,176.50 4,724,698.30
Other payables 88,136,263.98 79,351,154.37
Wherein: interest payable 20,000.00 934,134.38
Dividends payable 360,000.00 360,000.00
Handling charges and commissions
payable
Reinsurance accounts payable
Holding liabilities for sale
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Wafangdian Bearing Company Limited The Q1 Report for 2020
Non-current liabilities that mature
within one year
Other current liabilities
Total current liabilities 1,822,010,237.04 1,672,629,325.10
Non-current liabilities:
Insurance contract reserve
Long-term borrowing
Bonds payable
Wherein: preferred stock
Sustainable debt
Lease liability
Long-term payables 344,974.84 344,974.84
Pay staff on a long-term basis
Estimated debts
Deferred revenue 60,321,971.94 61,276,110.91
Deferred tax liabilities 785,660.25 785,660.25
Other non-current liabilities
Total non-current liabilities 61,452,607.03 62,406,746.00
Total liabilities 1,883,462,844.07 1,735,036,071.10
Owner's equity:
equity 402,600,000.00 402,600,000.00
Other equity instruments
Wherein: preferred stock
Sustainable debt
Capital reserves 485,691,050.47 485,691,050.47
Less: inventory stocks
Other comprehensive income
The special reserve 385.71
Surplus reserves 136,770,391.01 136,770,391.01
General risk provision
Undistributed profit 204,946,466.42 201,379,956.97
Aggregate equity attributable to parent
1,230,008,293.61 1,226,441,398.45
company
Minority equity
Total owners' equity 1,230,008,293.61 1,226,441,398.45
Total liabilities and equity 3,113,471,137.68 2,961,477,469.55
Chairman: Liu Jun General Accountant : Sun Najuan Accounting charger: Sun Najuan
2.Balance Sheet Of Parent Company
Unit: RMB Yuan
Items 2020.3.31 2019.12.31
Current assets:
Monetary fund 270,597,686.14 147,541,012.52
Trading financial assets 240,372.81 285,057.50
Derivative financial assets
Notes receivable
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Wafangdian Bearing Company Limited The Q1 Report for 2020
Accounts receivable 1,071,689,423.98 1,056,081,183.54
Receivables financing 163,751,564.73 174,925,481.58
prepayments 32,507,715.25 24,128,739.35
Other receivables 14,171,071.60 10,316,683.41
Wherein: interest receivable
Dividends receivable
inventory 676,798,957.87 645,572,153.92
Contract assets
Holding assets for sale
Non-current assets that mature within
one year
Other current assets 666,189.78 2,402,110.21
Total current assets 2,230,422,982.16 2,061,252,422.03
Non-current assets:
Creditor's rights investment
Other debt investments
Long-term receivables
Long-term equity investment 211,583,897.67 211,583,897.67
Investment in other equity instruments 11,926,856.64 11,926,856.64
Other non-current financial assets
Investment real estate 102,602,208.37 107,928,780.98
Fixed assets 393,275,480.63 405,972,163.82
Projects under construction 32,060,456.65 33,315,133.75
Productive biological assets
Oil and gas assets
Usage asset
Intangible assets 66,086,648.74 65,377,956.95
The development of spending
goodwill
Long-term deferred expenses 651,673.19 724,877.66
Deferred tax assets
Other non-current assets
Total non-current assets 818,187,221.89 836,829,667.47
Total assets 3,048,610,204.05 2,898,082,089.50
Current liabilities:
Short-term borrowing 715,000,000.00 655,000,000.00
Transactional financial liabilities
Derivative financial liability
Notes payable 243,354,976.79 250,019,501.69
Accounts payable 659,494,909.15 562,483,695.40
Advance payment 27,712,137.64
Contract liability 23,744,953.40
Salary payable 6,705,380.83 15,853,058.39
Payable taxes 2,667,159.10 2,539,819.22
Other payables 64,768,324.11 56,658,107.69
Wherein: interest payable 20,000.00 934,134.38
Dividends payable 360,000.00 360,000.00
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Wafangdian Bearing Company Limited The Q1 Report for 2020
Holding liabilities for sale
Non-current liabilities that mature
within one year
Other current liabilities
Total current liabilities 1,715,735,703.38 1,570,266,320.03
Non-current liabilities:
Long-term borrowing
Bonds payable
Wherein: preferred stock
Sustainable debt
Lease liability
Long-term payables 244,974.84 244,974.84
Pay staff on a long-term basis
Estimated debts
Deferred revenue 28,709,278.97 29,663,417.94
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 28,954,253.81 29,908,392.78
Total liabilities 1,744,689,957.19 1,600,174,712.81
Owner's equity:
equity 402,600,000.00 402,600,000.00
Other equity instruments
Wherein: preferred stock
Sustainable debt
Capital reserves 485,678,443.26 485,678,443.26
Less: inventory stocks
Other comprehensive income
The special reserve
Surplus reserves 136,770,391.01 136,770,391.01
Undistributed profit 278,871,412.59 272,858,542.42
Total owners' equity 1,303,920,246.86 1,297,907,376.69
Total liabilities and equity 3,048,610,204.05 2,898,082,089.50
3. Consolidated Income Sheet.
Unit: RMB Yuan
Item Account for the current period Account for the prior period
I. total operating revenue 443,933,160.23 475,596,504.32
Among them: operating revenue 443,933,160.23 475,596,504.32
Interest income
The premium has been made
Fees and commission income
II. Total operating cost 443,515,420.78 475,935,959.13
Among them: operating cost 352,856,257.90 412,133,312.96
The interest payments
Charges and commissions
Surrender gold
Net compensation expenditure
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Wafangdian Bearing Company Limited The Q1 Report for 2020
Net provision for insurance liability
Policy dividend payment
Reinsurance expenses
Taxes and surcharges 3,104,603.99 4,382,352.34
Cost of sales 23,780,153.66 35,862,031.41
Management fees 10,675,770.39 13,963,367.61
Research and development costs 46,226,400.00 1,536,579.45
Finance charges 6,872,234.84 8,058,315.36
Including: interest expense 6,897,360.45 6,536,531.45
Interest income 170,761.77 269,689.67
Plus: other benefits 1,070,896.92 1,842,138.97
Investment gains (loss marked with "-")
Among them: investment income to joint
venture and joint venture
Termination recognition of financial
assets at amortized cost
Exchange gains (loss marked with "-")
Net exposure hedging income (loss
marked with "-")
Earnings from changes in fair value (loss
-44,684.69 38,521.28
marked with "-")
Credit impairment loss (loss marked with
-2,347.18
"-")
Impairment loss of assets (loss marked
with "-")
Gains from asset disposal (loss marked
with "-")
III. Operating profit (loss marked with
1,441,604.50 1,541,205.44
"-")
Plus: non-operating income 2,248,928.19 1,599,173.75
Less: non-operating expenses 124,023.24 67,834.19
IV. Total profit (total loss marked with
3,566,509.45 3,072,545.00
"-")
Less: income tax expense
V. net profit (net loss marked with "-") 3,566,509.45 3,072,545.00
(1) classification according to business
continuity
1. Net profit from continuing operations
3,566,509.45 3,072,545.00
(net loss marked with "-")
2. Net profit from terminated operations
(net loss marked with "-")
(2) according to the ownership
classification
1. Net profit attributable to the parent
3,566,509.45 3,072,545.00
owner
2. Minority shareholder gains and losses
VI.The net after-tax value of other
comprehensive income
The net after-tax value of other
consolidated income attributable to the
parent owner
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Wafangdian Bearing Company Limited The Q1 Report for 2020
(1) other comprehensive income that
cannot be reclassified into profit or loss
1. Reset the change amount of the benefit
plan
2. Other comprehensive income that
cannot be transferred under the equity
method
3. Changes in the fair value of other
equity instruments
4. Changes in the fair value of the
enterprise's own credit risk
5. Other
(2) other comprehensive income
reclassified into profit and loss
1. Other comprehensive income that can
be transferred under the equity method
2. Changes in the fair value of other debt
investments
3. The amount of financial assets
reclassified into other comprehensive
income
4. Provisions for impairment of other
creditor's rights investment credit
5. Cash flow hedging reserve
6. Translation of foreign currency
financial statements
7. Other
The net after-tax value of other
consolidated income attributable to
minority
VII.Total comprehensive income 3,566,509.45 3,072,545.00
Total consolidated income attributable to
the parent owner
Total aggregate income attributable to
3,566,509.45 3,072,545.00
minority shareholders
VIII. Earnings per share:
(1) basic earnings per share 0.01 0.01
(2) diluted earnings per share 0.01 0.01
Chairman: Liu Jun 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
I. operating revenue 447,661,014.13 493,298,802.90
Less: operating costs 359,020,574.31 429,012,779.16
Taxes and surcharges 2,572,792.48 3,703,799.12
Cost of sales 23,230,686.69 35,452,990.08
Management fees 6,181,514.37 8,848,725.26
Research and development costs 46,203,000.00 1,383,611.53
Finance charges 6,953,901.58 8,064,278.48
Including: interest expense 6,897,360.45 6,536,531.45
Interest income 85,756.26 258,298.35
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Wafangdian Bearing Company Limited The Q1 Report for 2020
Plus: other benefits 940,427.69 1,842,138.97
Investment gains (loss marked with "-")
Among them: investment income to
joint venture and joint venture
Termination of income recognition of
financial assets measured at amortized
cost (loss marked with "-")
Net exposure hedging income (loss
marked with "-")
Earnings from changes in fair value
-44,684.69 38,521.28
(loss marked with "-")
Credit impairment loss (loss marked
-2,347.18
with "-")
Impairment loss of assets (loss marked
with "-")
Gains from asset disposal (loss marked
with "-")
II. Operating profit (loss marked with
4,391,940.52 8,713,279.52
"-")
Plus: non-operating income 1,744,952.89 1,019,173.75
Less: non-operating expenses 124,023.24 4,545.19
III. Total profit (total loss marked with
6,012,870.17 9,727,908.08
"-")
Less: income tax expense
IV. Net profit (net loss marked with "-") 6,012,870.17 9,727,908.08
(1) net profit from continuing
6,012,870.17 9,727,908.08
operations (net loss marked with "-")
(2) net profit from terminated
operations (net loss marked with "-")
V.Net after tax of other comprehensive
income
(1) other comprehensive income that
cannot be reclassified into profit or loss
1. Reset the change amount of the
benefit plan
2. Other comprehensive income that
cannot be transferred under the equity
method
3. Changes in the fair value of other
equity instruments
4. Changes in the fair value of the
enterprise's own credit risk
5. Other
(2) other comprehensive income
reclassified into profit and loss
1. Other comprehensive income that can
be transferred under the equity method
2. Changes in the fair value of other
debt investments
3. The amount of financial assets
reclassified into other comprehensive
income
4. Provisions for impairment of other
creditor's rights investment credit
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Wafangdian Bearing Company Limited The Q1 Report for 2020
5. Cash flow hedging reserve
6. Translation of foreign currency
financial statements
7. Other
VI.Total comprehensive income 6,012,870.17 9,727,908.08
VII. Earnings per share:
(1) basic earnings per share 0.01 0.02
(2) diluted earnings per share 0.01 0.02
5.Consolidated Cash Flow Statement.
Unit: RMB Yuan
Item Account for the current period Account for the prior period
I. Cash flow generated from operating
activities:
Cash received from the sale of goods
263,901,627.18 225,033,197.82
and services
Net increase in customer deposits and
inter bank deposits
Net increase in borrowing from the
central bank
Net increase in borrowing from other
financial institutions
Cash received from the premium of the
original contract of insurance
Receipt of net reinsurance cash
Net increase in household savings and
investment funds
Cash for the collection of interest, fees
and commissions
Net increase of funds borrowed
Net increase of funds in repo business
Net cash received for the sale of
securities
Tax refunds received
To receive other cash related to
1,440,531.09 61,483,446.38
operating activities
Subtotal cash inflow from operating
265,342,158.27 286,516,644.20
activities
Cash for the purchase of goods and
132,193,729.55 154,120,728.93
services
Net increase in customer loans and
advances
Net increase in deposits of central bank
and interbank funds
Payment of the original insurance
contract in cash
A net increase in divested funds
Cash for payment of interest, fees and
commissions
Cash to pay policy dividends
Cash payments to and for employees 72,813,451.86 65,170,626.74
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Wafangdian Bearing Company Limited The Q1 Report for 2020
Taxes paid 9,466,149.14 11,499,830.03
Payment of other cash related to
32,285,031.41 96,178,995.72
operating activities
Subtotal cash outflows from operating
246,758,361.96 326,970,181.42
activities
Net cash flow from operating activities 18,583,796.31 -40,453,537.22
II. Cash flow generated by investment
activities:
Recover the cash received from the
investment
Cash received from the proceeds of an
investment
Net cash recovered from the disposal of
fixed assets, intangible assets and other 800,000.00
long-term assets
Dispose of the net cash received by
subsidiaries and other business units
Other cash received in connection with
investment activities
Investment activity cash inflow subtotal 800,000.00
Cash paid for the purchase and
construction of fixed assets, intangible 1,205,036.75 1,083,584.14
assets and other long-term assets
Cash paid for investment
Net increase in pledged loans
Net cash paid by subsidiaries and other
business units
Payment of other cash related to
investment activities
Subtotal cash outflows from investment
1,205,036.75 1,083,584.14
activities
Net cash flow from investment
-1,205,036.75 -283,584.14
activities
III. Cash flow generated by financing
activities:
Absorb the cash received from
investment
Among them: the subsidiary absorbs the
cash received from minority
shareholders' investment
Obtain cash received on loan 60,000,000.00
Other cash received in connection with
41,567,823.29 92,190,000.00
fund-raising activities
Financing activities cash inflow subtotal 101,567,823.29 92,190,000.00
Payment of debt in cash 50,000,000.00
Cash used to pay dividends, profits, or
7,562,384.39 6,527,633.56
interest payments
Among them: the dividends and profits
paid by the subsidiary to minority
shareholders
Payment of other cash related to
42,000,000.00
financing activities
Financing activities cash outflow
7,562,384.39 98,527,633.56
subtotal
14
Wafangdian Bearing Company Limited The Q1 Report for 2020
Net cash flow from financing activities 94,005,438.90 -6,337,633.56
IV.The impact of exchange rate
fluctuations on cash and cash 847,392.08 -966,541.68
equivalents
V.Net increase in cash and cash
112,231,590.54 -48,041,296.60
equivalents
Plus: balance of cash and cash
equivalents at the beginning of the 137,324,488.53 188,431,805.23
period
VI.Balance of ending cash and cash
249,556,079.07 140,390,508.63
equivalents
6. Cash flow statement of the parent company
unit：yuan
Items Current amount Previous amount
I. cash flow generated from operating
activities:
Cash received from the sale of goods
255,602,436.28 223,596,147.47
and services
Tax refunds received
To receive other cash related to
1,223,162.36 1,836,506.49
operating activities
Subtotal cash inflow from operating
256,825,598.64 225,432,653.96
activities
Cash for the purchase of goods and
137,824,769.98 108,334,301.75
services
Cash payments to and for employees 62,253,774.12 54,378,350.55
Taxes paid 8,291,381.30 9,413,771.31
Payment of other cash related to
30,789,581.44 34,693,242.89
operating activities
Subtotal cash outflows from operating
239,159,506.84 206,819,666.50
activities
Net cash flow from operating activities 17,666,091.80 18,612,987.46
II. Cash flow generated by investment
activities:
Recover the cash received from the
investment
Cash received from the proceeds of an
investment
Net cash recovered from the disposal of
fixed assets, intangible assets and other 800,000.00
long-term assets
Dispose of the net cash received by
subsidiaries and other business units
Other cash received in connection with
investment activities
Investment activity cash inflow subtotal 800,000.00
Cash paid for the purchase and
construction of fixed assets, intangible 218,101.00 1,079,094.14
assets and other long-term assets
Cash paid for investment
Net cash paid by subsidiaries and other
business units
15
Wafangdian Bearing Company Limited The Q1 Report for 2020
Payment of other cash related to
investment activities
Subtotal cash outflows from investment
218,101.00 1,079,094.14
activities
Net cash flow from investment
-218,101.00 -279,094.14
activities
III. Cash flow generated by financing
activities:
Absorb the cash received from
investment
Obtain cash received on loan 60,000,000.00
Other cash received in connection with
41,567,823.29 92,190,000.00
fund-raising activities
Financing activities cash inflow subtotal 101,567,823.29 92,190,000.00
Payment of debt in cash 50,000,000.00
Cash used to pay dividends, profits, or
7,562,384.39 6,525,942.36
interest payments
Payment of other cash related to
42,000,000.00
financing activities
Financing activities cash outflow
7,562,384.39 98,525,942.36
subtotal
Net cash flow from financing activities 94,005,438.90 -6,335,942.36
IV.The impact of exchange rate
fluctuations on cash and cash 847,392.08 -966,541.68
equivalents
V.Net increase in cash and cash
112,300,821.78 11,031,409.28
equivalents
Plus: balance of cash and cash
equivalents at the beginning of the 101,216,633.47 87,388,834.89
period
VI.Balance of ending cash and cash
213,517,455.25 98,420,244.17
equivalents
II. Explanation of the adjustment of financial statements
1. The first implementation of the new revenue standards and the new lease standards from 2020; the first
implementation of the financial statements at the beginning of the year
Applicable Inapplicable
2. From 2020, for the first time, the implementation of the new income criterion and the new lease criterion
shall be followed to adjust the earlier comparative data
Applicable Inapplicable
III.Audited Report
The Q1 Report is not audited.
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