Full text of wafangdian Bearing Co., LTD. 2022 first quarter report
Stock Code: 000706 Notice No.: 2022-08 Short Form of the Stock: Wazhou B
Wafangdian Bearing Company Limited
The First Quarterly Report of 2022
The Company and whole members of the Board guarantee that the information disclosed is true, accurate and
complete and there are no fictitious records, misleading statements or material omissions carried in the Report.
Important Note:
1. Board of Directors and the Supervisory Committee of Wafangdian Bearing Company Limited (hereinafter
referred to as the Company) and its directors, supervisors and senior executives should guarantee the reality,
accuracy and completion of the quarterly report, there are no any fictitious statements, misleading statements or
important omissions carried in this report, and shall take legal responsibilities, individual and/or joint.
2. Person in charge of the Company, head of accounting and person in charger of accounting organ (accounting
officer) hereby confirm that the financial information of this Quarterly Report is authentic, accurate and complete.
3. The first quarterly report audited or not
□Yes √No
I. Main financial data
(i) Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data or not
□Yes√ No
Changes of this period
Same period of last
Current Period over same period of
year
last year
Operating income (RMB) 516,856,921.09 413,507,921.87 24.99%
Net profit attributable to
shareholders of the listed company -31,201,728.45 2,486,349.89 -1,354.92%
(RMB)
Net profit attributable to
shareholders of the listed company
-36,234,334.17 2,242,469.73 -1,715.82%
after deducting non-recurring gains
and losses (RMB)
Net cash flow arising from
-112,415,257.84 -27,699,435.57 -305.84%
operating activities (RMB)
Basic earnings per share
-0.0775 0.0100 -875.00%
(RMB/Share)
Diluted earnings per share -0.0775 0.0100 -875.00%
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Full text of wafangdian Bearing Co., LTD. 2022 first quarter report
(RMB/Share)
Weighted average ROE -5.26% 0.30% -5.56%
Changes of this
End of this period End of last period period-end over same
period-end of last year
Total assets (RMB) 3,334,414,764.85 3,220,126,105.01 3.55%
Owners’ equity attributable to
shareholders of listed company 577,753,865.95 608,267,282.47 -5.02%
(RMB)
(ii) Items of non-recurring gains and losses
√ Applicable □Not applicable
Unit: RMB/CNY
Item Current amount Note
Gains/losses from the disposal of non-current asset
(including the write-off that accrued for impairment of 847,498.11
assets)
Governmental subsidy calculated into current gains
and losses(while closely related with the normal
business of the Company, the government subsidy that
1,303,954.41
accord with the provision of national policies and are
continuously enjoyed in line with a certain standard
quota or quantity are excluded)
Gain or loss on debt restructuring 1,212,992.08
Gains/losses of fair value changes arising from
holding of the trading financial asset, trading financial
liability and investment earnings obtained from
disposing the trading financial asset, trading financial -30,817.03
liability, and financial assets available for sale,
except for the effective hedging business related to
normal operation of the Company
Other non-operating income and expenses other than
2,574,204.11
the above
Less: impact on income tax 875,225.96
Total 5,032,605.72 --
Details of other gains/losses items that meet the definition of non-recurring gains/losses:
□ Applicable √ Not applicable
There are no other gains/losses items that meet the definition of non-recurring gains/losses in the Company.
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Full text of wafangdian Bearing Co., LTD. 2022 first quarter report
Explain the items defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/loss in Q&A
Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss
□ Applicable √ Not applicable
There are no items defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/loss in Q&A
Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss
(iii) Particulars about material changes in items of main accounting statement and financial
index and explanations of reasons
√ Applicable □Not applicable
Item Amount at Amount at Increase/decrea Reason for change
period-end period-begin se ratio
Financing of 48,735,945.94 28,115,340.20 73.3% Rise in the bank acceptance
receivables draft received
Other current assets 12,959,121.50 5,627,951.08 130.3% Increase in VAT to be
deducted
Construction in 37,800,665.82 25,929,699.29 45.8% Increase equipment
progress investment
Employee 14,510,177.28 54,396,857.78 -73.3% Actual payout of prior year’s
compensation payable accrued performance salary
Item Current period Same period of last Increase/decrea Reason for change
year se ratio
Operating income 516,856,921.09 413,507,921.87 25.0% Market shares improved
Operating costs 459,307,688.7 320,309,529.36 43.4% Market shares improved
Financial expenses 10,960,564.08 6,730,457.27 62.9% Increase in loan interests
Gain on changes in -30,817.03 13,867.66 -322.2% Decline of the share market
fair value price
Credit impairment loss 38,891.11 3,756.14 935.4% Recovery of individually
account receivable that
impaired
Asset impairment loss 194,436.80 538,655.19 -63.9% Reversal of the provision for
decline in value of inventory
Asset disposal income 848,457.68 -1,007,067.07 -184.3% Increase in income from
disposal of waste equipment
Non-operating income 2,597,979.12 58,264.72 4358.9% Increase in penalty income
Non-operating 46,379.19 861,217.84 -94.6% Decrease in loss from fixed
expenses assets scrapping
II. Shareholders
(i)Total number of common shareholders and preference shareholders with voting rights recovered
and top ten shareholders
Unit: Share
Total preference
Total number of common shareholders with voting
shareholders at the end of report 5,596 rights recovered at end of 0
period reporting period (if
applicable)
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Top ten shareholders
Amount of Information of shares pledged,
Shareholder’s Nature of Proportion of Amount of
non-tradable tagged or frozen
name shareholder shares held shares held
shares held State of share Amount
Wafangdian
State-owned
Bearing Group 60.61% 244,000,000 244,000,000
legal person
Corp., Ltd.
AKTIEBOLA Foreign legal
19.70% 79,300,000
GET SKF person
China
Merchants
State-owned
Securities 1.99% 8,020,391
legal person
Hong Kong
Limited
Domestic
Huang Junyue 1.76% 7,088,268
natural person
Domestic
Hu Xiaofeng 0.47% 1,879,277
natural person
BOCI
Foreign legal
SECURITIES 0.33% 1,310,000
person
LIMITED
GUOTAI
JUNAN
Foreign legal
SECURITIES( 0.26% 1,038,511
person
HONGKONG)
LIMITED
Meng Domestic
0.22% 898,348
Qingliang natural person
Domestic
Jin Yunhua 0.19% 750,000
natural person
MAN,KWAI Foreign natural
0.18% 713,101
WING person
Top ten shareholders with tradable shares held
Type of shares
Shareholder’s name Amount of listed shares held
Type Amount
Domestically
AKTIEBOLAGET SKF 79,300,000 listed foreign 79,300,000
shares
Domestically
China Merchants Securities Hong 8,020,391 8,020,391
listed foreign
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Kong Limited shares
Domestically
Huang Junyue 7,088,268 listed foreign 7,088,268
shares
Domestically
Hu Xiaofeng 1,879,277 listed foreign 1,879,277
shares
Domestically
BOCI SECURITIES LIMITED 1,310,000 listed foreign 1,310,000
shares
GUOTAI JUNAN Domestically
SECURITIES(HONGKONG) 1,038,511 listed foreign 1,038,511
LIMITED shares
Domestically
Meng Qingliang 898,348 listed foreign 898,348
shares
Domestically
Jin Yunhua 750,000 listed foreign 750,000
shares
Domestically
MAN,KWAI WING 713,101 listed foreign 713,101
shares
Domestically
Jiang Guangsen 687,900 listed foreign 687,900
shares
Among the top ten shareholders, there is no affiliation or concerted action between the first
Explanation on associated majority shareholder and other shareholders or the top ten outstanding shareholders;
relationship among the aforesaid Affiliation or concerted action among other shareholders, among the top ten outstanding
shareholders shareholders, and between the top ten outstanding shareholders and other shareholders are
not available.
(ii) Total shareholders with preferred stock held and shares held by top ten shareholders with
preferred stock held
□ Applicable √ Not applicable
III. Other important matters
□ Applicable √ Not applicable
IV. Quarterly financial statements
(i) Financial statement
1. Consolidate Balance Sheet
Prepared by Wafangdian Bearing Company Limited
Unit: RMB/CNY
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Full text of wafangdian Bearing Co., LTD. 2022 first quarter report
Item Ending balance Opening balance
Current assets:
Monetary fund 369,794,825.49 286,476,701.69
Settlement provisions
Capital lent
Trading financial assets 291,220.90 322,037.93
Derivative financial assets
Note receivable 464,383,153.23 507,971,133.69
Account receivable 1,008,416,279.50 999,454,308.40
Receivable financing 48,735,945.94 28,115,340.20
Account paid in advance 44,153,396.96 46,305,700.50
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Other account receivable 11,536,252.52 9,531,860.12
Including: Interest receivable
Dividend receivable
Buying back the sale of financial
assets
Inventory 750,487,814.46 710,611,964.20
Contract assets 3,096,344.44 3,763,781.55
Assets held for sale
Non-current asset due within one
year
Other current assets 19,406,436.24 5,627,951.08
Total current assets 2,720,301,669.68 2,598,180,779.36
Non-current assets:
Loans and payments on behalf
Debt investment
Other debt investment
Long-term account receivable
Long-term equity investment
Investment in other equity
11,926,856.64 11,926,856.64
instrument
Other non-current financial
assets
Investment real estate 67,857,478.14 68,862,311.38
Fixed assets 420,458,440.45 438,220,714.18
Construction in progress 37,800,665.82 25,929,699.29
Productive biological asset
Oil and gas asset
Right-of-use assets
Intangible assets 75,907,787.42 76,812,955.92
Expense on research and
development
Goodwill
Long-term expenses to be
161,866.70 192,788.24
apportioned
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Deferred income tax asset
Other non-current assets
Total non-current asset 614,113,095.17 621,945,325.65
Total assets 3,334,414,764.85 3,220,126,105.01
Current liabilities:
Short-term loans 832,000,000.00 677,000,000.00
Loan from central bank
Capital borrowed
Trading financial liability
Derivative financial liability
Note payable 368,494,298.14 306,258,189.60
Account payable 1,213,368,828.44 1,248,850,328.84
Accounts received in advance 0.00 0.00
Contract liabilities 36,346,116.54 38,426,632.29
Selling financial asset of
repurchase
Absorbing deposit and interbank
deposit
Security trading of agency
Security sales of agency
Wage payable 14,510,177.28 54,396,857.78
Taxes payable 12,518,337.19 11,585,889.46
Other account payable 178,822,625.13 173,782,184.85
Including: Interest payable 0.00 0.00
Dividend payable
Commission charge and
commission payable
Reinsurance payable
Liability held for sale
Non-current liabilities due
within one year
Other current liabilities 4,619,324.30 4,995,462.19
Total current liabilities 2,660,679,707.02 2,515,295,545.01
Non-current liabilities:
Insurance contract reserve
Long-term loans
Bonds payable
Including: Preferred stock
Perpetual capital
securities
Lease liability
Long-term account payable 344,974.84 344,974.84
Long-term wages payable
Accrual liability 42,008,955.33 41,401,450.14
Deferred income 52,944,025.26 54,133,616.10
Deferred income tax liabilities 683,236.45 683,236.45
Other non-current liabilities
Total non-current liabilities 95,981,191.88 96,563,277.53
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Full text of wafangdian Bearing Co., LTD. 2022 first quarter report
Total liabilities 2,756,660,898.90 2,611,858,822.54
Owner’s equity:
Share capital 402,600,000.00 402,600,000.00
Other equity instrument
Including: Preferred stock
Perpetual capital
securities
Capital public reserve 485,691,050.47 485,691,050.47
Less: Treasury shares
Other comprehensive income
Reasonable reserve 688,311.93
Surplus public reserve 136,770,391.01 136,770,391.01
Provision of general risk
Retained profit -447,995,887.46 -416,794,159.01
Total owner’ s equity attributable to
577,753,865.95 608,267,282.47
parent company
Minority interests
Total owner’ s equity 577,753,865.95 608,267,282.47
Total liabilities and owner’ s equity 3,334,414,764.85 3,220,126,105.01
Legal Representative: Liu Jun
Person in charge of accounting works: Sun Najuan
Person in charge of accounting institute: Zhang Yajing
2. Consolidated Profit Statement
Unit: RMB/CNY
Item Current period Last period
I. Total operating income 516,856,921.09 413,507,921.87
Including: Operating income 516,856,921.09 413,507,921.87
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 554,178,164.52 411,850,901.15
Including: Operating cost 459,307,688.70 320,309,529.36
Interest expense
Commission charge and
commission expense
Cash surrender value
Net amount of expense of
compensation
Net amount of withdrawal
of insurance contract reserve
Bonus expense of
guarantee slip
Reinsurance expense
Tax and extras 3,153,559.66 4,447,119.85
Sales expense 30,842,565.48 27,995,108.38
Administrative expense 22,857,415.49 20,929,079.57
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R&D expense 27,056,371.11 31,439,606.72
Financial expenses 10,960,564.08 6,730,457.27
Including: Interest
expenses
Interest income
Add: other income 1,303,954.41 1,212,169.22
Investment income (Loss is
1,212,992.08 870,901.15
listed with “-”)
Including: Investment
income on affiliated company and joint
venture
The termination of
income recognition for financial assets
measured by amortized cost
Exchange income (Loss is
listed with “-”)
Net exposure hedging
income (Loss is listed with “-”)
Income from change of fair
-30,817.03 13,867.66
value (Loss is listed with “-”)
Loss of credit impairment
38,891.11 3,756.14
(Loss is listed with “-”)
Losses of devaluation of
194,436.80 538,655.19
asset (Loss is listed with “-”)
Income from assets disposal
848,457.68 -1,007,067.07
(Loss is listed with “-”)
III. Operating profit (Loss is listed with
-33,753,328.38 3,289,303.01
“-”)
Add: Non-operating income 2,597,979.12 58,264.72
Less: Non-operating expense 46,379.19 861,217.84
IV. Total profit (Loss is listed with “-”) -31,201,728.45 2,486,349.89
Less: Income tax expense 0.00 0.00
V. Net profit (Net loss is listed with
-31,201,728.45 2,486,349.89
“-”)
(i) Classify by business continuity
1. Net profit from continuing
-31,201,728.45 2,486,349.89
operations (net loss listed with “-”)
2. Net profit from termination of
operations (net loss listed with “-”)
(ii) Classify by ownership
1.Net profit attributable to
-31,201,728.45 2,486,349.89
owner’s of parent company
2.Minority shareholders’ gains
and losses
VI. Net after-tax of other
comprehensive income
Net after-tax of other comprehensive
income attributable to owners of parent
company
(i) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1.Changes of the defined
benefit plans that re-measured
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Full text of wafangdian Bearing Co., LTD. 2022 first quarter report
2.Other comprehensive
income under equity method that
cannot be transfer to gain/loss
3.Change of fair value of
investment in other equity instrument
4.Fair value change of
enterprise's credit risk
5. Other
(ii) Other comprehensive income
items which will be reclassified
subsequently to profit or loss
1.Other comprehensive
income under equity method that can
transfer to gain/loss
2.Change of fair value of
other debt investment
3.Amount of financial
assets re-classify to other
comprehensive income
4.Credit impairment
provision for other debt investment
5.Cash flow hedging
reserve
6.Translation differences
arising on translation of foreign
currency financial statements
7.Other
Net after-tax of other comprehensive
income attributable to minority
shareholders
VII. Total comprehensive income -31,201,728.45 2,486,349.89
Total comprehensive income
attributable to owners of parent -31,201,728.45 2,486,349.89
Company
Total comprehensive income
attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share -0.0775 0.0100
(ii) Diluted earnings per share -0.0775 0.0100
Enterprise combine under the same control in the Period, the combined party realized net profit of 0.00 Yuan before combination, and
realized 0.00 Yuan at last period for combined party.
Legal Representative: Liu Jun
Person in charge of accounting works: Sun Najuan
Person in charge of accounting institute: Zhang Yajing
3. Consolidated Cash Flow Statement
Unit: RMB/CNY
Item Current period Last period
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 192,730,297.96 268,684,482.92
services
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Full text of wafangdian Bearing Co., LTD. 2022 first quarter report
Net increase of customer deposit
and interbank deposit
Net increase of loan from
central bank
Net increase of capital borrowed
from other financial institution
Cash received from original
insurance contract fee
Net cash received from
reinsurance business
Net increase of insured savings
and investment
Cash received from interest,
commission charge and commission
Net increase of capital borrowed
Net increase of returned business
capital
Net cash received by agents in
sale and purchase of securities
Write-back of tax received 1,262,463.01 0.00
Other cash received concerning
16,296,874.82 13,269,838.53
operating activities
Subtotal of cash inflow arising from
210,289,635.79 281,954,321.45
operating activities
Cash paid for purchasing
commodities and receiving labor 166,960,415.32 132,159,217.33
service
Net increase of customer loans
and advances
Net increase of deposits in
central bank and interbank
Cash paid for original insurance
contract compensation
Net increase of capital lent
Cash paid for interest,
commission charge and commission
Cash paid for bonus of guarantee
slip
Cash paid to/for staff and
116,252,789.39 110,389,374.00
workers
Taxes paid 11,722,385.77 14,556,590.53
Other cash paid concerning
27,769,303.15 52,548,575.16
operating activities
Subtotal of cash outflow arising from
322,704,893.63 309,653,757.02
operating activities
Net cash flows arising from operating
-112,415,257.84 -27,699,435.57
activities
II. Cash flows arising from investing
activities:
Cash received from recovering
investment
Cash received from investment
18,821.12
income
Net cash received from disposal 981,190.00 692,187.72
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of fixed, intangible and other
long-term assets
Net cash received from disposal
of subsidiaries and other units
Other cash received concerning
investing activities
Subtotal of cash inflow from
981,190.00 711,008.84
investing activities
Cash paid for purchasing fixed,
1,752,828.15 266,026.51
intangible and other long-term assets
Cash paid for investment
Net increase of mortgaged loans
Net cash received from
subsidiaries and other units obtained
Other cash paid concerning
investing activities
Subtotal of cash outflow from
1,752,828.15 266,026.51
investing activities
Net cash flows arising from investing
-771,638.15 444,982.33
activities
III. Cash flows arising from financing
activities
Cash received from absorbing
0.00 0.00
investment
Including: Cash received from
absorbing minority shareholders’
investment by subsidiaries
Cash received from loans 300,000,000.00 99,000,000.00
Other cash received concerning
73,348,314.77 0.00
financing activities
Subtotal of cash inflow from
373,348,314.77 99,000,000.00
financing activities
Cash paid for settling debts 145,000,000.00 71,000,000.00
Cash paid for dividend and
7,825,440.39 7,255,081.89
profit distributing or interest paying
Including: Dividend and profit
of minority shareholder paid by
subsidiaries
Other cash paid concerning
82,000,000.00 0.00
financing activities
Subtotal of cash outflow from
234,825,440.39 78,255,081.89
financing activities
Net cash flows arising from financing
138,522,874.38 20,744,918.11
activities
IV. Influence on cash and cash
equivalents due to fluctuation in -687,990.74 487,647.36
exchange rate
V. Net increase of cash and cash
24,647,987.65 -6,021,887.77
equivalents
Add: Balance of cash and cash
209,847,896.42 163,728,799.97
equivalents at the period-begin
VI. Balance of cash and cash
234,495,884.07 157,706,912.20
equivalents at the period-end
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(ii) Audit report
Whether the 1st quarterly report has been audited or not
□Yes √ No
The 1st quarterly report of the Company has not been audited.
Board of Directors of
Wafangdian Bearing Company Limited
22 April 2022
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