Wafangdian Bearing Company Limited the Q3 Report for 2023
Stock code: 000706 Stock ID: Wazhou B No.2023-28
Wafangdian Bearing Company Limited
The Third Quarterly Report for 2023
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
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Wafangdian Bearing Company Limited the Q3 Report for 2023
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 period from the beginning of
From the beginning of
compared with the the year to the end of
This period the year to the end of
same period of the the reporting period
the report
previous year over the same period of
the previous year
Operating income
520,405,589.54 -7.05% 1,772,444,939.14 7.70%
(yuan)
Net profit attributable
to shareholders of the -5,327,783.82 77.87% -40,705,444.98 33.84%
listed company (Yuan)
Net profit attributable
to shareholders of the
listed company after
-10,141,352.34 64.34% -54,971,756.09 28.72%
deducting non-
recurring gains and
losses (Yuan)
Net cash flow from
operating activities — — -134,480,899.14 -1,097.82%
(Yuan)
Basic earnings per
-0.0132 77.87% -0.1011 33.84%
share (Yuan/share)
Diluted earnings per
-0.0132 77.87% -0.1011 33.84%
share (Yuan/share)
Weighted average
-1.22% 3.08% -9.02% 1.62%
return on equity
At the end of this The end of this report is more or less than the end
At the end of the year
report of the previous year
Total assets (yuan) 3,421,280,666.88 3,324,777,599.86 2.90%
Owner's equity
attributable to
432,577,812.18 470,302,993.46 -8.02%
shareholders of the
listed company (Yuan)
(ii) Items and amounts of non-recurring profit (gains)/losses
√ Applicable □ Not applicable
Unit: Yuan
Amount for the Amount from year-
project Note
period begin to period-end
Gain or loss on disposal of non-current assets (including the write-off
289,502.36 1,106,872.85
portion of the impairment provision for assets 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 national policies and 3,572,890.05 7,046,861.39
regulations, in accordance with a certain standard quota or quantitative
continuous enjoyment)
Debt restructuring gains and losses 1,824,841.93 6,153,819.50
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, 20,031.07 -7,704.25
and the 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 described
-40,405.83 503,554.90
above
Less: Income tax impact 2,000,000.00
A combined 853,291.06 2,537,093.28
project 4,813,568.52 14,266,311.11 --
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Wafangdian Bearing Company Limited the Q3 Report for 2023
Other gain/loss items that qualified the definition of non-recurring profit (gains)/losses:
□ Applicable √ Not applicable
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 beginning of the Year-on-year
Current
item year/the same period increase or Cause of change
reporting period
last year decrease
M onetary funds 230,695,287.68 330,746,706.88 -30.25% Monetary collections received declined
Financing of
74,265,477.97 30,996,930.63 139.59% The number of bank acceptances received rose
receivables by 15
Contract assets are recognized as accounts
Contract assets 0.00 601,375.84 -100.00%
receivable at the beginning of the year
The VAT allowance increased at the end of
Other current
30,899,038.30 15,681,599.83 97.04% the report compared with the beginning of the
assets
year
Construction in
54,197,345.09 81,891,139.54 -33.82% transfixation
progress
Long-term
1,768,225.09 114,379.51 1445.93% Decoration money
deferred expenses
The year-end bonus and year-end performance
Payroll payable to
22,104,258.40 46,797,303.83 -52.77% are mainly provided at the end of the previous
employees year, and the actual payment is in January this
year
Special reserve 4,913,473.56 1,933,209.86 154.16%
The balance of safety-related expenses
increased during the period
Research and Mainly due to research and development
development 91,345,297.64 143,194,245.14 -36.21% projects, progress and the same period is
expense different
Gain on changes
-7,704.25 -80,124.28 -90.38% Chongqing Iron and steel stock price changes
in fair value
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Wafangdian Bearing Company Limited the Q3 Report for 2023
During the current period, the sales branch
Credit impairment recovered accounts receivable, and the
loss (loss marked 3,185,699.60 1,230,940.10 158.80% commercial commitments held at the end of
with "-") the previous year matured, and credit
impairment losses were offset
Gain on disposal
of assets (loss 1,193,288.60 2,034,765.97 -41.35%
Higher gain from sale of equipment in the
marked with "-") same period last year
Non-operating
In the same period of last year, the dealer
653,095.68 4,033,301.85 -83.81% margin was fined and the accounts were
income
written off
Loss on retirement of non-current assets
Non-operating
expenses
235,956.53 117,677.25 100.51% increased during the period compared to the
same period
II. Shareholders Information
(i) Total number of common shareholders and preference shareholders with voting rights recovered and
top ten common shareholders
Unit: Share
Total common shareholders at the Total preference shareholders with voting rights
5,224 0
end of report period recovered at end of reporting period (if applicable)
Top ten shareholders
Number 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
Corporation
AKTIEBOLAG Foreign legal
19.70% 79,300,000
ET SKF person
China
M erchants
State-owned
Securities Hon 2.23% 8,995,895
legal person
g Kong Co.,
Limited
Domestic
Huang Junyue 1.81% 7,302,709
natural person
Domestic
Hu Xiaofeng 0.47% 1,879,277
natural person
BOCI
Foreign legal
SECURITIES 0.33% 1,310,000
person
LIM ITED
GUOTAI
JUNAN
Foreign legal
SECURITIES( 0.26% 1,037,111
person
HONGKONG)
LIM ITED
M eng Domestic
0.24% 966,048
Qingliang natural person
Domestic
Jin Yunhua 0.18% 727,900
natural person
M AN,KWAI Foreign natural 0.18% 713,101
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Wafangdian Bearing Company Limited the Q3 Report for 2023
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 79,300,000.00 B 79,300,000.00
China M erchants Securities Hong
8,995,895.00 B 8,995,895.00
Kong Co., Limited
Huang Junyue 7,302,709.00 B 7,302,709.00
Hu Xiaofeng 1,879,277.00 B 1,879,277.00
BOCI SECURITIES LIM ITED 1,310,000.00 B 1,310,000.00
GUOTAI JUNAN
SECURITIES(HONGKONG) 1,037,111.00 B 1,037,111.00
LIM ITED
M eng Qingliang 966,048.00 B 966,048.00
Jin Yunhua 727,900.00 B 727,900.00
M AN,KWAI WING 文贵荣 713,101.00 B 713,101.00
Jiang Guangsen 687,900.00 B 687,900.00
Among the top ten shareholders of the Company, there is no correlation
or concerted action between the largest shareholder and other
A description of the above shareholder affiliation or
shareholders or the top ten tradable shareholders, and the correlation or
concerted action
concerted action between other shareholders, the top ten tradable
shareholders, and the top ten tradable shareholders is unknown.
Description of the Top 10 shareholders' participation
None
in margin trading (if any)
(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
IV. Quarterly financial statements
(i) Financial statement
1. Consolidate balance sheet
Prepared by Wafangdian Bearing Company Limited
September 30, 2023
Unit: Yuan
Item September 30, 2023 January 1, 2023
project
Current Assets: 230,695,287.68 330,746,706.88
M onetary fund
Provision for settlement
Lending money, 235,750.25 243,454.50
Trading financial assets
Derivative financial assets 527,797,913.88 469,784,593.61
Notes receivable 1,147,890,570.27 1,136,295,329.59
Accounts receivable 74,265,477.97 30,996,930.63
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Wafangdian Bearing Company Limited the Q3 Report for 2023
Financing of receivables 47,721,713.21 52,901,066.01
prepayments
Premiums receivable
Reinsurance accounts receivable
Reserves for reinsurance contracts
12,600,705.41 10,555,282.33
receivable
Other Accounts Receivable
Among them: interest receivable
Dividends receivable
Buy financial assets for resale 710,930,565.30 646,619,143.91
inventory 601,375.84
Contract assets
Holding assets for sale
Non-current assets due within one year 30,899,038.30 15,681,599.83
Other current assets 2,783,037,022.27 2,694,425,483.13
Total current assets
Non-current assets:
M ake loans and advances
Creditor's rights investment
Other creditor's rights investment
Long term receivables
Long-term equity investment 11,926,856.64 11,926,856.64
Investment in other equity instruments
Other non-current financial assets 64,578,718.76 67,211,806.69
Investment real estate 431,587,592.48 391,769,315.64
Fixed assets 54,197,345.09 81,891,139.54
Projects under construction
Productive biological asset
Oil and gas assets
Assets for use 74,184,906.55 77,438,618.71
Intangible assets
The development of spending
goodwill 1,768,225.09 114,379.51
Long-term deferred expenses
Deferred tax assets
Other non-current assets 638,243,644.61 630,352,116.73
Total non-current assets 3,421,280,666.88 3,324,777,599.86
Total assets
Current liabilities: 598,000,000.00 699,000,000.00
Short-term borrowing
Borrow from the central bank
Funds borrowed from
Trading financial liabilities
Derivative financial liability 459,325,470.25 462,446,562.00
Notes payable 1,469,998,367.20 1,300,975,034.72
Accounts payable
Advance payment 28,020,547.04 30,449,983.07
Contract liability
Sell to repurchase financial assets
Absorb deposits and interbank
deposits
Agent buying and selling securities
Acting underwriting securities 22,104,258.40 46,797,303.83
Staff remuneration payable 22,841,208.44 26,467,193.95
Payable taxes 189,180,949.83 180,459,153.26
Other payables
Among them: interest payable
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Wafangdian Bearing Company Limited the Q3 Report for 2023
Dividends payable
Charges and commissions payable
Reinsurance accounts payable
Holding liabilities for sale
Non-current liabilities due within one
3,629,338.17 4,294,078.63
year
Other current liabilities 2,793,100,139.33 2,750,889,309.46
Total current liabilities
Non-current Liabilities:
Insurance contract reserve 100,000,000.00
Long-term borrowing
Bonds payable
Among them: Preferred stock
Sustainable debt
Lease liability 344,974.84 344,974.84
Long term payables
Long-term employee compensation
49,542,162.08 54,288,933.94
payable
Estimated debts 45,088,669.43 48,324,479.14
Deferred revenue 626,909.02 626,909.02
Deferred tax liability
Other non-current liabilities 195,602,715.37 103,585,296.94
Total non-current liabilities 2,988,702,854.70 2,854,474,606.40
Total liabilities
Owner's equity: 402,600,000.00 402,600,000.00
equity
Other equity instruments
Among them: Preferred stock
Sustainable debt 485,691,050.47 485,691,050.47
Capital reserves
M inus: Treasury stock
Other comprehensive income 4,913,473.56 1,933,209.86
The special reserve 136,770,391.01 136,770,391.01
Surplus reserves
General risk provision -597,397,102.86 -556,691,657.88
Undistributed profit 432,577,812.18 470,302,993.46
Total owner's equity attributable to
parent company
M inority shareholders' equity 432,577,812.18 470,302,993.46
Total owners' equity 3,421,280,666.88 3,324,777,599.86
Legal Representative: Liu Jun Person in charge of accounting works: Sun Najuan
Person in charge of accounting institute: Sun Xinyan
2. Consolidated Profit Statement (from the year-begin to the period-end)
Unit: Yuan
Item Current period Last period
I. Total operating income 1,772,444,939.14 1,645,697,096.71
Among them: operating income 1,772,444,939.14 1,645,697,096.71
Interest income
The premium has been made
Fee and commission income
2. Total operating cost 1,833,139,488.11 1,726,828,943.14
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Wafangdian Bearing Company Limited the Q3 Report for 2023
Among them: operating cost 1,497,371,016.62 1,371,021,327.42
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 10,271,031.69 9,099,454.53
Cost of sales 120,806,440.10 100,829,015.84
M anagement fees 88,371,130.31 79,151,190.94
Research and development costs 91,345,297.64 143,194,245.14
Finance charges 24,974,571.75 23,533,709.27
Among them: interest expense 21,251,558.12 22,994,933.14
Interest income 1,118,449.67 878,156.32
Plus: other benefits 7,046,861.39 5,517,783.13
Investment income (loss marked with "-") 8,153,819.50 6,987,004.81
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 "-" for loss) -7,704.25 -80,124.28
Credit impairment loss (marked with "-") 3,185,699.60 1,230,940.10
Asset impairment loss (marked with "-") 0.00 0.00
Gain on disposal of assets (loss marked with "-") 1,193,288.60 2,034,765.97
3. Operating profit (loss marked with "-") -41,122,584.13 -65,441,476.70
Plus: non-operating income 653,095.68 4,033,301.85
Less: non-operating expenses 235,956.53 117,677.25
Iv. Total profit (total loss marked with "-") -40,705,444.98 -61,525,852.10
Less: Income tax expense
V. Net profit (Net loss marked with "-") -40,705,444.98 -61,525,852.10
(a) classification according to business continuity
1. Net profit from continuing operations (net loss marked
-40,705,444.98 -61,525,852.10
with "-")
2. Net profit from terminated operations (net loss marked
with "-")
(2) Classification according to ownership
1. Net profit attributable to shareholders of the parent
-40,705,444.98 -61,525,852.10
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
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Wafangdian Bearing Company Limited the Q3 Report for 2023
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 -40,705,444.98 -61,525,852.10
(1) Total comprehensive income attributable to the owner of
-40,705,444.98 -61,525,852.10
the parent company
(2) Total comprehensive income attributable to minority
shareholders
8. Earnings per Share
(1) Basic earnings per share -0.1011 -0.1528
(2) Diluted earnings per share -0.1011 -0.1528
Legal Representative: Liu Jun Person in charge of accounting works: Sun Najuan
Person in charge of accounting institute: Sun Xinyan
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 services 721,372,861.12 887,392,663.32
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 25,407,770.48 20,290,372.99
Other cash received concerning operating activities 43,418,476.80 52,246,684.48
Subtotal of cash inflow arising from operating activities 790,199,108.40 959,929,720.79
Cash paid for purchasing commodities and receiving labor service 463,668,190.64 551,349,708.47
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 289,980,382.54 291,086,051.72
Taxes paid 65,488,368.68 33,525,249.94
Other cash paid concerning operating activities 105,543,065.68 95,195,882.43
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Wafangdian Bearing Company Limited the Q3 Report for 2023
Subtotal of cash outflow arising from operating activities 924,680,007.54 971,156,892.56
Net cash flows arising from operating activities -134,480,899.14 -11,227,171.77
II. Cash flows arising from investing activities:
Cash received from recovering investment
Cash received from investment income 2,000,000.00 23,851.89
Net cash received from disposal of fixed, intangible and other long-
468,000.00 1,691,310.00
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 2,468,000.00 1,715,161.89
Cash paid for purchasing fixed, intangible and other long-term assets 3,062,338.75 10,900,149.06
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 3,062,338.75 10,900,149.06
Net cash flows arising from investing activities -594,338.75 -9,184,987.17
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 688,000,000.00 748,000,000.00
Other cash received concerning financing activities 372,098,651.66 103,197,142.45
Subtotal of cash inflow from financing activities 1,060,098,651.66 851,197,142.45
Cash paid for settling debts 689,000,000.00 727,000,000.00
Cash paid for dividend and profit distributing or interest paying 20,164,638.62 23,173,191.73
Including: Dividend and profit of minority shareholder paid by
subsidiaries
Other cash paid concerning financing activities 319,092,564.47 152,602,005.97
Subtotal of cash outflow from financing activities 1,028,257,203.09 902,775,197.70
Net cash flows arising from financing activities 31,841,448.57 -51,578,055.25
IV. Influence on cash and cash equivalents due to fluctuation in exchange
2,282,509.35 2,437,173.58
rate
V. Net increase of cash and cash equivalents -100,951,279.97 -69,553,040.61
Add: Balance of cash and cash equivalents at the period-begin 227,357,291.37 209,847,896.42
VI. Balance of cash and cash equivalents at the period-end 126,406,011.40 140,294,855.81
(2) The first implementation of the new accounting standards from 2023 t o adjust the first
implementation of the financial statements at the beginning of the year related items
□ Applicable √ Not applicable
(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
October 20, 2023
10
