Wafangdian Bearing Company Limited the Q3 Report for 2022
Stock code: 000706 Stock ID: Wazhou B No.2022-32
Wafangdian Bearing Company Limited
The Third Quarterly Report for 2022
The Company and whole members of the BOD guarantee that the information disclosed is true,
accurate and complete, and there are no any fictitious records, misleading statements or
important omissions.
Important content reminder:
1. Board of Directors, Supervisory Committee, all directors, supervisors and senior executives of Wafangdian
Bearing Company Limited (hereinafter referred to as the Company) hereby confirm that there are no any fictitious
statements, misleading statements, or important omissions carried in this report, and shall take all responsibilities,
individual and/or joint, for the reality, accuracy and completion of the whole contents.
2. Principal of the Company, Person in Charge of Accounting Works and Person in Charge of Accounting Organ
(Accounting Officer) hereby confirm that the Financial Report of the Third Quarterly Report is authentic, accurate
and complete.
3. Whether the Third Quarterly Report has been audited or not
□Yes No
1
Wafangdian Bearing Company Limited the Q3 Report for 2022
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
Increase or decrease
This reporting from the beginning of
From the beginning of
period compared the year to the end of
This period the year to the end of
with the same period the reporting period
the report
of the previous year over the same period of
the previous year
Operating income (yuan) 559,879,991.79 -12.73% 1,645,697,096.71 -4.47%
Net profit attributable to
shareholders of the listed -24,070,073.10 185.59% -61,525,852.10 1,352.41%
company (Yuan)
Net profit attributable to
shareholders of the listed
company after deducting -28,439,011.58 130.06% -77,117,513.59 593.95%
non-recurring gains and
losses (Yuan)
Net cash flow from
— — -11,227,171.77 103.41%
operating activities (Yuan)
Basic earnings per share
-0.0598 185.59% -0.1528 1,428.00%
(Yuan/share)
Diluted earnings per share
-0.0598 185.59% -0.1528 1,428.00%
(Yuan/share)
Weighted average return on
-4.30% -3.26% -10.64% -10.12%
equity
At the end of this At the end of the The end of this report is more or less than the end
report year of the previous year
Total assets (yuan) 3,386,588,236.43 3,220,126,105.01 5.17%
Owner's equity attributable
to shareholders of the listed 547,894,870.12 608,267,282.47 -9.93%
company (Yuan)
(ii) Items and amounts of non-recurring profit (gains)/losses
√ Applicable □ Not applicable
Unit: Yuan
Amount for the Amount from
project Note
period year-begin to period-end
Gain or loss on disposal of non-current assets (including the
write-off portion of the impairment provision for assets 113,471.25 2,036,288.75
already accrued)
Government subsidies included in the current profit and loss
(closely related to the company's normal business operations,
except the government subsidies in accordance with the 1,497,747.11 5,517,783.13
national policies and regulations, in accordance with a certain
standard quota or quantitative continuous enjoyment)
Debt restructuring gains and losses 3,163,974.55 6,987,004.81
In addition to the effective hedging business related to the
normal business operation of the company, the fair value
change gains and losses arising from the holding of trading
financial assets and trading financial liabilities, and the -52,388.95 -80,124.28
investment gains obtained from the disposal of trading
financial assets, trading financial liabilities and financial assets
available for sale
Other non-operating income and expenses other than those
435,898.19 3,914,101.82
described above
Less: Income tax impact 789,763.67 2,783,392.74
A combined 4,368,938.48 15,591,661.49 --
Other gain/loss items that qualified the definition of non-recurring profit (gains)/losses:
□ Applicable √ Not applicable
2
Wafangdian Bearing Company Limited the Q3 Report for 2022
The Company does not have other gain/loss items that qualified the definition of non-recurring profit (gains)/losses
Explanation on those non-recurring gain/loss listed in the “Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss” defined as recurring gain/loss
□ Applicable √ Not applicable
The Company does not have the non-recurring gain/loss listed in the “Q&A Announcement No.1 on Information Disclosure for
Companies Offering Their Securities to the Public --- Extraordinary Profit/loss” defined as recurring gain/loss
(iii) Particulars about changes in items of main accounting data and financial index and explanations of
reasons
√ Applicable □Not applicable
The amount The ratio of
number project The final number Ending balance increased or increase or Explanation of reason for change
decreased decrease
Other Accounts The bid bond has increased from the
1 13,929,532.64 9,531,860.12 4,397,672.52 46.1%
Receivable beginning of the year
The input tax to be certified increases
2 Other current assets 14,201,960.82 5,627,951.08 8,574,009.74 152.3%
from the beginning of the period
Projects under Mainly to increase investment in
3 88,036,505.46 25,929,699.29 62,106,806.17 239.5%
construction equipment
Staff remuneration -35,778,203.8 Accrued performance pay is down
4 18,618,653.92 54,396,857.78 -65.8%
payable 6 from the beginning of the year
The amount The ratio of
This year the In the same
number project increased or increase or Explanation of reason for change
cumulative period last year
decreased decrease
Mainly debt restructuring gains
5 Return on investment 6,987,004.81 965,004.59 6,022,000.22 624.0% compared with the same period last
year
Revenue from fines increased in the
Non-operating
6 4,033,301.85 1,176,749.45 2,856,552.40 242.7% current period compared with the same
income
period
Non-operating Mainly the same period last year
7 117,677.25 962,855.06 -845,177.81 -87.8%
expenses scrapped assets generated losses
Payment of other
There is an increase in the discount
cash in connection
8 152,602,005.97 75,500,000.00 77,102,005.97 102.1% amount of bills repaid in the current
with financing
period
activities
Effect of exchange
9 rate changes on cash 2,437,173.58 -757,984.06 3,195,157.64 - Subject to exchange rate movements
and cash equivalents
II. Shareholders Information
(i) Total number of common shareholders and preference shareholders with voting rights recovered and
top ten common shareholders
Unit: Share
Total preference
shareholders with voting
Total common shareholders at the
5,475 rights recovered at end of 0
end of report period
reporting period (if
applicable)
Top ten shareholders
Proportion Number of Information of shares pledged, tagged
Shareholder’s Nature of Amount of
of shares non-tradable or frozen
name shareholder shares held
held shares held State of share Amount
Wafangdian
State-owned
Bearing Group 60.61% 244,000,000 244,000,000
legal person
Corporation
3
Wafangdian Bearing Company Limited the Q3 Report for 2022
AKTIEBOLAG Foreign legal
19.70% 79,300,000
ET SKF person
China Merchants
Securities Hong State-owned
1.99% 7,992,391
Kong Co., legal person
Limited
Domestic
Huang Junyue 1.77% 7,132,068
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(H 0.26% 1,038,511
person
ONGKONG)
LIMITED
Domestic
Meng Qingliang 0.24% 966,048
natural person
Domestic
Jin Yunhua 0.18% 728,000
natural person
MAN,KWAI Foreign natural
0.18% 713,101
WING 文贵荣 person
Shareholding of the top 10 shareholders of tradable shares
Type of shares
Shareholders’ name Number of listed shares held
Type Amount
AKTIEBOLAGET SKF 79,300,000 B 79,300,000
China Merchants Securities Hong
7,992,391 B 7,992,391
Kong Co., Limited
Huang Junyue 7,132,068 B 7,132,068
Hu Xiaofeng 1,879,277 B 1,879,277
BOCI SECURITIES LIMITED 1,310,000 B 1,310,000
GUOTAI JUNAN
SECURITIES(HONGKONG) 1,038,511 B 1,038,511
LIMITED
Meng Qingliang 966,048 B 966,048
Jin Yunhua 728,000 B 728,000
MAN,KWAI WING 文贵荣 713,101 B 713,101
Jiang Guangsen 687,900 B 687,900
Among the top 10 shareholders of the company, there is no association or consistent
Explanation on associated action between the largest shareholder and other shareholders or top 10 shareholders of
relationship among the aforesaid tradable shares, and it is unknown whether there is any association or consistent action
shareholders between other shareholders, top 10 shareholders of tradable shares or top 10 shareholders
of tradable shares and other shareholders.
(ii) Total shareholders with preferred stock held and shares held by top ten shareholders with preferred
stock held
□ Applicable √ Not applicable
III. Other significant events
□ Applicable √ Not applicable
4
Wafangdian Bearing Company Limited the Q3 Report for 2022
IV. Quarterly financial statements
(i) Financial statement
1. Consolidate balance sheet
Prepared by Wafangdian Bearing Company Limited
September 30, 2022
Unit: Yuan
project September 30, 2022 December 31, 2021
Current Assets:
Monetary fund 226,935,389.14 286,476,701.69
Provision for settlement
Lending money,
Trading financial assets 241,913.65 322,037.93
Derivative financial assets
Notes receivable 532,789,744.94 507,971,133.69
Accounts receivable 1,032,619,450.48 999,454,308.40
Financing of receivables 57,908,452.75 28,115,340.20
prepayments 68,749,503.23 46,305,700.50
Premiums receivable
Reinsurance accounts receivable
Reserves for reinsurance contracts receivable
Other Accounts Receivable 13,929,532.64 9,531,860.12
Among them: interest receivable
Dividends receivable
Buy financial assets for resale
inventory 800,790,633.15 710,611,964.20
Contract assets 6,238,501.94 3,763,781.55
Holding assets for sale
Non-current assets due within one year
Other current assets 14,201,960.82 5,627,951.08
Total current assets 2,754,405,082.74 2,598,180,779.36
Non-current assets:
Make loans and advances
Creditor's rights investment
Other creditor's rights investment
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 65,893,503.25 68,862,311.38
Fixed assets 392,110,194.98 438,220,714.18
Projects under construction 88,036,505.46 25,929,699.29
Productive biological asset
Oil and gas assets
Assets for use
Intangible assets 74,097,450.42 76,812,955.92
The development of spending
goodwill
Long-term deferred expenses 118,642.94 192,788.24
Deferred tax assets
Other non-current assets
Total non-current assets 632,183,153.69 621,945,325.65
Total assets 3,386,588,236.43 3,220,126,105.01
Current liabilities:
5
Wafangdian Bearing Company Limited the Q3 Report for 2022
Short-term borrowing 698,000,000.00 677,000,000.00
Borrow from the central bank
Funds borrowed from
Trading financial liabilities
Derivative financial liability
Notes payable 379,761,134.46 306,258,189.60
Accounts payable 1,386,067,196.33 1,248,850,328.84
Advance payment
Contract liability 46,584,089.61 38,426,632.29
Sell to repurchase financial assets
Absorb deposits and interbank deposits
Agent buying and selling securities
Acting underwriting securities
Staff remuneration payable 18,618,653.92 54,396,857.78
Payable taxes 20,510,027.80 11,585,889.46
Other payables 188,624,265.28 173,782,184.85
Among them: interest payable
Dividends payable
Charges and commissions payable
Reinsurance accounts payable
Holding liabilities for sale
Non-current liabilities due within one year
Other current liabilities 3,087,321.12 4,995,462.19
Total current liabilities 2,741,252,688.52 2,515,295,545.01
Non-current Liabilities:
Insurance contract reserve
Long-term borrowing
Bonds payable
Among them: Preferred stock
Sustainable debt
Lease liability
Long term payables 344,974.84 344,974.84
Long-term employee compensation payable
Estimated debts 45,847,622.92 41,401,450.14
Deferred revenue 50,564,843.58 54,133,616.10
Deferred tax liability 683,236.45 683,236.45
Other non-current liabilities
Total non-current liabilities 97,440,677.79 96,563,277.53
Total liabilities 2,838,693,366.31 2,611,858,822.54
Owner's equity:
equity 402,600,000.00 402,600,000.00
Other equity instruments
Among them: Preferred stock
Sustainable debt
Capital reserves 485,691,050.47 485,691,050.47
Minus: Treasury stock
Other comprehensive income
The special reserve 1,153,439.75
Surplus reserves 136,770,391.01 136,770,391.01
General risk provision
Undistributed profit -478,320,011.11 -416,794,159.01
Total owner's equity attributable to parent
547,894,870.12 608,267,282.47
company
Minority shareholders' equity
Total owners' equity 547,894,870.12 608,267,282.47
Total liabilities and equity 3,386,588,236.43 3,220,126,105.01
6
Wafangdian Bearing Company Limited the Q3 Report for 2022
Legal Representative: Liu Jun Person in charge of accounting works: Sun Najuan
Person in charge of accounting institute: Zhang Yajing
2. Consolidated Profit Statement (from the year-begin to the period-end)
Unit: Yuan
Item Current period Last period
I. Total operating income 1,645,697,096.71 1,722,635,449.83
Among them: operating income 1,645,697,096.71 1,722,635,449.83
Interest income
The premium has been made
Fee and commission income
2. Total operating cost 1,726,828,943.14 1,735,766,473.63
Among them: operating cost 1,371,021,327.42 1,359,948,135.80
The interest payments
Fees and commission expenses
Surrender gold
Net payout for claims
Draw the net insurance liability reserve
Policy bonus payout
Reinsurance expenses
Taxes and surcharges 9,099,454.53 11,278,021.34
Cost of sales 100,829,015.84 104,332,385.17
Management fees 79,151,190.94 73,784,856.78
Research and development costs 143,194,245.14 157,697,555.28
Finance charges 23,533,709.27 28,725,519.26
Among them: interest expense 22,994,933.14 21,414,324.63
Interest income 878,156.32 294,592.53
Plus: other benefits 5,517,783.13 5,080,579.21
Investment income (loss marked with "-") 6,987,004.81 965,004.59
Among them: income from investment in joint
ventures and joint ventures
Financial assets measured at amortized cost
terminate recognition of earnings
Exchange gain (marked with "-" for loss)
Net exposure hedging gain (loss marked with "-")
Income from change in fair value (marked with "-"
-80,124.28 161,789.39
for loss)
Credit impairment loss (marked with "-") 1,230,940.10 30,000.00
Asset impairment loss (marked with "-") 0.00 1,329.79
Gain on disposal of assets (loss marked with "-") 2,034,765.97 2,442,295.42
3. Operating profit (loss marked with "-") -65,441,476.70 -4,450,025.40
Plus: non-operating income 4,033,301.85 1,176,749.45
Less: non-operating expenses 117,677.25 962,855.06
Iv. Total profit (total loss marked with "-") -61,525,852.10 -4,236,131.01
Less: Income tax expense
V. Net profit (Net loss marked with "-") -61,525,852.10 -4,236,131.01
(a) classification according to business continuity
1. Net profit from continuing operations (net loss
-61,525,852.10 -4,236,131.01
marked with "-")
2. Net profit from terminated operations (net loss
marked with "-")
(2) Classification according to ownership
1. Net profit attributable to shareholders of the -61,525,852.10 -4,236,131.01
7
Wafangdian Bearing Company Limited the Q3 Report for 2022
parent company (net loss marked with "-")
2. Profit and loss of minority shareholders (net
loss marked with "-")
Net after tax of other comprehensive income
Net after tax of other comprehensive income
attributable to owner of parent company
(1) Other comprehensive income that cannot be
reclassified into profit or loss
1. Re-measure the amount of change in the set
benefit plan
2. Other comprehensive income that cannot be
transferred to profit or loss under the equity method
3. Changes in fair value of other equity instrument
investments
4. The fair value change 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 to profit or loss under the equity method
2. Changes in fair value of other debt investments
3. The amount of financial assets reclassified into
other comprehensive income
4. Provision for impairment of other creditor's
rights investment credit
5. Cash flow hedging reserve
6. Translation difference of foreign currency
financial statements
7. Other
Net after tax of other comprehensive income
attributable to minority shareholders
7. Total comprehensive income -61,525,852.10 -4,236,131.01
(1) Total comprehensive income attributable to the
-61,525,852.10 -4,236,131.01
owner of the parent company
(2) Total comprehensive income attributable to
minority shareholders
8. Earnings per Share
(1) Basic earnings per share -0.1528 -0.0105
(2) Diluted earnings per share -0.1528 -0.0105
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 (from the year-begin to the period-end)
Unit: Yuan
Item Current period Last period
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing labor
887,392,663.32 856,242,985.96
services
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
8
Wafangdian Bearing Company Limited the Q3 Report for 2022
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 20,290,372.99 17,508,213.30
Other cash received concerning operating activities 52,246,684.48 65,957,997.31
Subtotal of cash inflow arising from operating activities 959,929,720.79 939,709,196.57
Cash paid for purchasing commodities and receiving labor service 551,349,708.47 527,343,266.72
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 workers 291,086,051.72 277,417,352.15
Taxes paid 33,525,249.94 43,545,739.85
Other cash paid concerning operating activities 95,195,882.43 96,922,442.60
Subtotal of cash outflow arising from operating activities 971,156,892.56 945,228,801.32
Net cash flows arising from operating activities -11,227,171.77 -5,519,604.75
II. Cash flows arising from investing activities:
Cash received from recovering investment
Cash received from investment income 23,851.89 18,821.12
Net cash received from disposal of fixed, intangible and other
1,691,310.00 2,108,032.16
long-term assets
Net cash received from disposal of subsidiaries and other units
Other cash received concerning investing activities
Subtotal of cash inflow from investing activities 1,715,161.89 2,126,853.28
Cash paid for purchasing fixed, intangible and other long-term
10,900,149.06 1,181,706.32
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 investing activities 10,900,149.06 1,181,706.32
Net cash flows arising from investing activities -9,184,987.17 945,146.96
III. Cash flows arising from financing activities
Cash received from absorbing investment
Including: Cash received from absorbing minority shareholders’
investment by subsidiaries
Cash received from loans 748,000,000.00 617,000,000.00
Other cash received concerning financing activities 103,197,142.45 82,895,652.78
Subtotal of cash inflow from financing activities 851,197,142.45 699,895,652.78
Cash paid for settling debts 727,000,000.00 610,093,645.83
Cash paid for dividend and profit distributing or interest paying 23,173,191.73 22,230,442.85
Including: Dividend and profit of minority shareholder paid by
subsidiaries
9
Wafangdian Bearing Company Limited the Q3 Report for 2022
Other cash paid concerning financing activities 152,602,005.97 75,500,000.00
Subtotal of cash outflow from financing activities 902,775,197.70 707,824,088.68
Net cash flows arising from financing activities -51,578,055.25 -7,928,435.90
IV. Influence on cash and cash equivalents due to fluctuation in exchange
2,437,173.58 -757,984.06
rate
V. Net increase of cash and cash equivalents -69,553,040.61 -13,260,877.75
Add: Balance of cash and cash equivalents at the period-begin 209,847,896.42 127,620,944.91
VI. Balance of cash and cash equivalents at the period-end 140,294,855.81 114,360,067.16
(iii) Audit report
Whether the 3rd quarterly report has been audited or not
□Yes √ No
The 3rd quarterly report of the Company has not been audited.
Board of Directors of
Wafangdian Bearing Company Limited
10
