Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
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Bengang Steel Plates Co., Ltd.
The 3rd Quarterly Report 2010 (Full Text)
§1 Important Declaration
1.1 The Board of Directors and the directors of the Company guarantee that there are no significant
omissions, fictitious or misleading statements carried in the Report and we will accept individual and joint
responsibilities for the truthfulness, accuracy and completeness of the Report.
1.2 The 3rd Quarterly Report is not audited by CPA.
1.3 Chairman of the Board – Mr. Yu Tiancheng, Chief Financial Officer – Mr. Cao Aimin, and Head of
Accounting Dept. – Mr. Zuo Zhanguo hereby declare: the authenticity and integrality of the report are guaranteed.
This report is prepared both in Chinese and English. When there is conflict understanding between the two
versions, the Chinese version shall prevail.
§2 Company Profile
2.1 Financial highlights
In RMB Yuan
2010.9.30 2009.12.31 Extent of Change (%)
Gross Assets (RMB) 36,138,022,336.84 34,821,686,467.03 3.78%
Owners’ equity attributable to the
shareholders of the listed company (yuan) 14,946,614,382.04 14,124,642,552.32 5.82%
Capital shares (shares) 3,136,000,000.00 3,136,000,000.00 0.00%
Net asset per share attributable to the
shareholders of the listed company
(Yuan/share)
4.7661 4.5040 5.82%
July-Sept. 2010
Changed over the
same period of last
year (%)
Jan-Sept. 2010
Changed over the
same period of last
year (%)
Turnover (yuan) 11,971,535,169.01 28.66% 33,800,717,653.76 31.18%
Net profit attributable to shareholders of
the listed company (yuan) 171,515,064.68 132.77% 860,121,829.72 160.01%
Net Cash flow generated by business
operation (RMB) - - 639,012,087.93 -30.13%
Net Cash flow per share generated by
business operation (yuan/share) - - 0.20 -30.13%
Basic earnings per share (Yuan/share) 0.05 132.77% 0.27 160.01%
Diluted earnings per share (Yuan/share) 0.05 132.77% 0.27 160.01%
Weighted average net
income/asset ratio (%) 1.15% 131.41% 5.91% 161.99%
Weighted average net
income/asset ratio less non-recurring
gain/loss(%)
1.47% 146.14% 6.20% 168.48%Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
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Non-recurring gain and loss items Amount from beginning of year to
the end of report term Note
Gain/loss of non-current assets -58,279,946.98 Fixed asset discard in
report term
Government subsidies accounted into current gain/loss account, other
than those closely related to the Company’s common business, comply
with the national policy and continues to enjoy at certain fixed rate or
amount.
388,540.02
Gain/loss from debt reorganization 6,769,133.24
Other non-business income and expenditures other than the above -5,403,138.35
Influenced amount of income tax 14,131,353.02
Total -42,394,059.05 -
2.2 Total of shareholders and the top 10 holders of unconditional shares
In Shares
Total shareholders at the end of the report period
(accounts) 66,565
Top ten holders of the shares without subscription limitation
Full name of shareholder Amount of unconditional shares held at
the end of report term Categories
Benxi Steel (Group) Ltd. 536,800,000 RMB common shares
DREYFUS PREMIER INVESTMENT FDS
INC.-DREYFUS GREATER CHINA FD 52,237,245 Foreign shares placed in domestic
exchange
GOVERNMENT OF SINGAPORE INV. CORP.-
A/C "C" 22,939,848 Foreign shares placed in domestic
exchange
NOMURA TST N BK CO.,LTD ATTF ASIA
ATTR DIV STK FD MTH FD 18,049,086 Foreign shares placed in domestic
exchange
China Construction Bank – Shangtou Morgan
China Advantage Securities Investment Fund 15,689,356 RMB common shares
GSIC A/C MONETARY AUTHORITY OF
SINGAPORE 10,850,058 Foreign shares placed in domestic
exchange
RENAISSANCE CHINA PLUS FUND 7,760,556 Foreign shares placed in domestic
exchange
UBS AG LONDON BRANCH 6,640,442 Foreign shares placed in domestic
exchange
HTHK/BTDL-ASIAN MARKET LEADERS
FUND 6,589,251 Foreign shares placed in domestic
exchange
CREDIT SUISSE (HONG KONG) LIMITED 5,829,634 Foreign shares placed in domestic
exchange
§3 Significant Events
3.1 Details and causations of major change in major accounting subjects and financial indices
√ applicable □ not applicable
* Main financial items in the consolidated financial statement which have changed for over 30% comparing with the financial
situation at end of 2009
I. Balance Sheet Items Rate of change Cause of change
Monetary capital -37.56% Increasing of monetary capital paid by the Company
Other account receivable 41.31% Increasing of other business payment receivableBengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
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Long-term share equity investment 210.92% Increasing of external share equity held by the Company
Construction in process 87.31% Increasing construction in process
Engineering goods -82.29% Delivery of project materials
Notes payable -70.75% Due and disburse of notes payable
Tax payable -60.35% VAT payable increased this term
Other account payable 62.06% Increasing of payment clearance
Non-current liability due in 1 year -92.25% Clearing of non-current liabilities due in one year
Long-term borrowings 106.89% Increasing of bank loans
Special payable 1933.55% Receiving of special fund
Retained profit 57.55% Increasing of net profit
Minor shareholders’ equity Intake of extra shareholders by subsidiaries
* Main financial items in the consolidated statement which have changed for over 30% comparing with the financial performance of
Jan-Sept 2009
II. Income Statement Items Rate of change Cause of change
Turnover 31.18% Increasing of sales and sales prices
Business tax and surcharge 1193.85% VAT payable increased this term
Sales expense 35.39% Increasing of export and therefore the port fee, freight, and tax
Non-operational income -31.45% Decreasing of government subsidies
Non-operational expenditure -37.71% Discard of assets
Income tax expenses 232.34% Increasing of profit made by subsidiaries
Cash flow generated by business operation, net -30.13% Increasing of payment for purchasing
Net cash flow generated by financing 173.21% Increasing of bank loans
3.2 Progress of significant events, their influence, countermeasures, and analysis
3.2.1 None-standard opinions
□applicable √ not applicable
3.2.2 Illegal providing of capital or guarantees to the holding shareholder or its related parties or external
parties
□applicable √ not applicable
3.2.3 Signing and execution of major business contracts
□applicable √ not applicable
3.2.4 Misc.
√ applicable □ not applicable
One entity was newly added to the consolidated report, which was:
According to the “External Investment Plan” adopted at the 1st meeting of the 5th term of Board held on June 3, 2010, the Company
invested RMB65 million to establish Dalian Benruitong Automobile Material Technologies Co., Ltd. in Dalian City with Hubei
Huitong Trade Group Co., Ltd. and Wuhu Ruichuang Investment Co., Ltd. The company has obtained the business license （大保工商
企法字2102421101375） on July 1, 2010, with registered capital of RMB100 million. This investment has been verified by Dalian
Zhaolin CPA Ltd. with the report 大兆会内验字（2010）第019 号.Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
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3.3 Fulfilling of commitment issues made by the Company, shareholder, or substantial controller
√ applicable □ not applicable
Commitments The
undertaker Content of Commitments Status of fulfilling
Commitment in share
equity relocation
Benxi Steel
(Group)
Ltd.
1. After launching of the share relocation program, Bengang Group has
committed not to trade or transfer its shares in 24 months since the day
when they are allowed to trade in the stock exchange, and not more
than 5% of the total capital share of the Company between the 24th
month and the 36th month. 2. Bengang Group committed not to put
the newly placed shares in the market or sell to others in 36 months
since the date when the share registration is done. (except for
transferring to strategic investors that is approved by the national
policy, the commitments shall be carried forward by the underwriter.) 3.
From completion of handover till the end of 2010, Bengang Group
shall hold not less than 65% of the Company’s capital shares. (But
except for transferring to strategic investors under the permission of
national policies, with the condition of the new holder shall keep the
commitment made forth by Bengang Group.) 4. When the Group is
trading or transferring the shares it holds in the Company before the
end of 2010, the prices shall not lower than the net asset per share
provided by the latest auditing report. Bengang Group committed that
the proceeds from trading of the shares, by breaching of faith as said
above, will be transferred to the possession of the Company. 5.
Bengang Group promises to be responsible for the losses due to its
failure or partially failure in fulfilling of the above responsibilities.
The commitments are
under processing at
present and no
breaching of
commitment has
occurred.
Commitment made
in acquisition report
or equity alternation
report
None None None
Commitment made
in major asset
restructuring
None None None
Commitment made at
issuing None None None
Other commitments
(including
supplementary
commitments)
None None None
3.4 Estimated accumulative profit from the year beginning to the end of the next report period may be of
deficits; or in comparison with the same period of the previous year, give the warning of great change and
the notice to the reasons.
□applicable √ not applicable
3.5 Major events needs to be explained
3.5.1 Investment in securities
□applicable √ not applicableBengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
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3.5.2 Reception of investigations, communications, or interviews
Time/date Place Way Visitors Main content involved and material provided
July 13, 2010 Office of the secretary of Board Field research North-east Security Production and operation situation
3.6 Investment in derivate financial instruments
□applicable √ not applicable
3.6.1 Derivate financial instrument stock at end of report term
□applicable √ not applicable
§4 AttachmentsBengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
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4.1 Balance Sheet
Prepared by Bengang Steel Plates Co., Ltd. Ended September 30, 2010 RMB Yuan
Balance at the end of term Balance at the beginning of year
Items
Consolidated Parent company Consolidated Parent company
Current asset:
Monetary capital 1,775,213,052.98 1,460,454,024.16 2,842,961,050.60 2,795,043,926.41
Settlement provision
Outgoing call loan
Transactional financial assets
Notes receivable 2,266,847,918.03 2,139,262,535.40 1,758,593,662.55 1,692,464,732.45
Account receivable 524,413,747.51 683,359,988.55 578,413,768.04 736,508,549.83
Prepayment 970,071,480.91 970,071,480.91 1,150,044,136.73 1,134,073,791.54
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts receivable
Interest receivable
Dividend receivable
Other account receivable 132,304,970.07 233,580,451.53 93,630,458.88 210,275,779.87
Repurchasing of financial assets
Inventories 10,044,572,795.66 9,553,292,449.89 8,075,674,235.63 7,701,138,465.80
Non-current asset due in 1 year
Other current asset 182,211,823.73 182,211,823.73 182,211,823.73 182,211,823.73
Total of current asset 15,895,635,788.89 15,222,232,754.17 14,681,529,136.16 14,451,717,069.63
Non-current assets
Loans and payment on other’s behalf disbursed
Disposable financial asset
Expired investment in possess
Long-term receivable
Long-term share equity investment 5,732,780.00 868,597,157.17 1,843,800.00 539,708,177.17
Investment properties
Fixed assets 16,579,835,576.11 16,158,160,792.08 17,962,489,063.75 17,518,704,793.06
Construction in process 3,420,708,688.26 2,772,775,245.42 1,826,180,938.13 1,826,180,938.13
Engineering goods 24,435,746.70 24,435,746.70 137,969,772.11 137,969,772.11
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets
R&D expense
Goodwill
Long-term amortizable expenses
Differed income tax asset 211,673,756.88 210,573,821.71 211,673,756.88 210,573,821.71
Other non-current asset
Total of non-current assets 20,242,386,547.95 20,034,542,763.08 20,140,157,330.87 20,233,137,502.18
Total of assets 36,138,022,336.84 35,256,775,517.25 34,821,686,467.03 34,684,854,571.81
Current liabilities
Short-term loans 2,308,316,000.00 2,308,316,000.00 2,845,850,700.00 2,845,850,700.00Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
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Loan from Central Bank
Deposit received and hold for others
Call loan received
Trade off financial liabilities
Notes payable 1,239,664,801.86 1,239,664,801.86 4,238,076,393.71 4,238,076,393.71
Account payable 6,978,644,704.93 7,172,262,258.24 6,261,007,678.94 6,401,502,740.43
Prepayment received 2,978,554,490.49 2,589,139,501.86 2,538,565,736.60 2,418,365,310.33
Selling of repurchased financial assets
Fees and commissions receivable
Employees’ wage payable 193,864,036.15 193,864,036.15 245,128,249.09 245,128,249.09
Tax payable -46,491,008.14 -42,817,752.55 -117,251,269.73 -99,007,033.77
Interest payable
Dividend payable
Other account payable 1,377,272,050.44 1,453,904,421.21 849,874,951.99 747,373,431.76
Reinsurance fee payable
Insurance contract provision
Entrusted trading of securities
Entrusted selling of securities
Non-current liability due in 1 year 74,423,563.60 74,423,563.60 960,040,053.18 960,040,053.18
Other current liability
Total of current liability 15,104,248,639.33 14,988,756,830.37 17,821,292,493.78 17,757,329,844.73
Non-current liabilities
Long-term borrowings 5,935,875,998.80 5,425,875,998.80 2,869,036,104.26 2,869,036,104.26
Bond payable
Long-term payable
Special payable 115,234,666.67 115,234,666.67 5,666,666.67 5,666,666.67
Contingent liabilities
Differed income tax liability
Other non-recurring liabilities 1,048,650.00 1,048,650.00 1,048,650.00 1,048,650.00
Total of non-current liabilities 6,052,159,315.47 5,542,159,315.47 2,875,751,420.93 2,875,751,420.93
Total of liability 21,156,407,954.80 20,530,916,145.84 20,697,043,914.71 20,633,081,265.66
Owners’ equity (or shareholders’ equity)
Capital paid in (or share capital) 3,136,000,000.00 3,136,000,000.00 3,136,000,000.00 3,136,000,000.00
Capital reserves 8,792,191,134.76 8,792,191,134.76 8,736,261,134.76 8,736,261,134.76
Less: Shares in stock
Special reserves
Surplus reserves 921,277,509.22 921,277,509.22 921,277,509.22 921,277,509.22
Common risk provision
Retained profit 2,097,145,738.06 1,876,390,727.43 1,331,103,908.34 1,258,234,662.17
Different of foreign currency translation
Total of owner’s equity belong to the parent company 14,946,614,382.04 14,725,859,371.41 14,124,642,552.32 14,051,773,306.15
Minor shareholders’ equity 35,000,000.00
Total of owners’ equity 14,981,614,382.04 14,725,859,371.41 14,124,642,552.32 14,051,773,306.15
Total of liabilities and owners’ equity 36,138,022,336.84 35,256,775,517.25 34,821,686,467.03 34,684,854,571.81Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
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4.2 Income Statement of the report term
Prepared by: Bengang Steel Plates Co., Ltd. July-Sept 2010 RMB Yuan
Amount of the Current Term Amount of the Previous Term
Items
Consolidated Parent company Consolidated Parent company
I. Total revenue 11,971,535,169.01 11,741,327,075.53 9,304,927,031.04 9,115,252,601.04
Incl. Business income 11,971,535,169.01 11,741,327,075.53 9,304,927,031.04 9,115,252,601.04
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 11,692,345,649.23 11,651,311,790.22 9,733,441,079.84 9,563,071,709.00
Incl. Business cost 10,625,735,529.76 10,623,979,573.74 9,020,608,173.52 8,900,300,926.37
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Net insurance policy reserves provided
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 70,979,357.42 66,261,105.88 1,389,284.02 887,833.03
Sales expense 122,504,653.62 99,498,055.75 54,840,434.66 30,439,099.92
Administrative expense 864,128,685.63 852,464,403.99 615,894,619.47 611,247,338.93
Financial expenses 8,997,422.80 9,108,650.86 20,063,913.55 20,196,510.75
Asset impairment loss 20,644,654.62
Plus: Gains from change of fair value (“-“ for loss)
Investment gain (“-“ for loss)
Incl. Investment gains from affiliates
Gains from currency exchange (“-“ for loss)
III. Operational profit (“-“ for loss) 279,189,519.78 90,015,285.31 -428,514,048.80 -447,819,107.96
Plus: Non business income -3,746,255.80 -3,817,302.82 3,830,210.56 2,690,210.56
Less: Non-business expenses 59,463,844.06 59,463,849.91 95,351,983.35 95,334,362.17
Incl. Loss from disposal of non-current assets -59,002,245.28 -59,002,245.28 -95,319,892.90 -95,319,892.90
IV. Gross profit (“-“ for loss) 215,979,419.92 26,734,132.58 -520,035,821.59 -540,463,259.57
Less: Income tax expenses 44,464,355.24 3,320,669.20
V. Net profit (“-“ for net loss) 171,515,064.68 26,734,132.58 -523,356,490.79 -540,463,259.57
Net profit attributable to the owners of parent
company 171,515,064.68 26,734,132.58 -523,356,490.79 -540,463,259.57
Minor shareholders’ equity
VI. Earnings per share:
(I) Basic earnings per share 0.05 0.01 -0.1669 -0.1723
(II) Diluted earnings per share 0.05 0.01 -0.1669 -0.1723
VII. Other misc. incomes 0.00 0.00 0.00 0.00
VIII. Total of misc. incomes 171,515,064.68 26,734,132.58 -523,356,490.79 -540,463,259.57
Total of misc. incomes attributable to the owners of
the parent company 171,515,064.68 26,734,132.58 -523,356,490.79 -540,463,259.57
Total misc gains attributable to the minor
shareholdersBengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
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4.3 Income Statement from the beginning of year to the end of report term
Prepared by: Bengang Steel Plates Co., Ltd. Jan-Sept 2010 RMB Yuan
Amount of the Current Term Amount of the Previous Term
Items
Consolidated Parent company Consolidated Parent company
I. Total revenue 33,800,717,653.76 32,830,199,135.90 25,766,554,848.82 25,130,011,586.72
Incl. Business income 33,800,717,653.76 32,830,199,135.90 25,766,554,848.82 25,130,011,586.72
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 32,834,719,558.05 32,061,152,887.48 27,093,768,462.69 26,535,020,059.65
Incl. Business cost 29,739,981,552.67 29,068,505,742.09 24,606,082,401.34 24,117,956,233.12
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Net insurance policy reserves provided
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 159,854,603.94 154,081,011.79 12,354,982.20 10,993,392.89
Sales expense 354,972,728.41 288,953,696.79 183,144,183.18 125,378,898.05
Administrative expense 2,452,986,066.60 2,422,381,476.91 2,159,699,456.69 2,147,901,689.12
Financial expenses 126,924,606.43 127,230,959.90 132,487,439.28 132,789,846.47
Asset impairment loss
Plus: Gains from change of fair value (“-“ for loss)
Investment gain (“-“ for loss)
Incl. Investment gains from affiliates
Gains from currency exchange (“-“ for loss)
III. Operational profit (“-“ for loss) 965,998,095.71 769,046,248.42 -1,327,213,613.87 -1,405,008,472.93
Plus: Non business income 2,948,756.62 2,653,666.75 4,301,840.21 1,783,476.69
Less: Non-business expenses 59,474,168.69 59,463,849.91 95,481,389.59 95,450,018.41
Incl. Loss from disposal of non-current assets -58,279,946.98 -58,279,946.98 -95,315,772.90 -95,315,772.90
IV. Gross profit (“-“ for loss) 909,472,683.64 712,236,065.26 -1,418,393,163.25 -1,498,675,014.65
Less: Income tax expenses 49,350,853.92 14,849,727.93
V. Net profit (“-“ for net loss) 860,121,829.72 712,236,065.26 -1,433,242,891.18 -1,498,675,014.65
Net profit attributable to the owners of parent
company 860,121,829.72 712,236,065.26 -1,433,242,891.18 -1,498,675,014.65
Minor shareholders’ equity
VI. Earnings per share:
(I) Basic earnings per share 0.27 0.23 -0.4570 -0.4779
(II) Diluted earnings per share 0.27 0.23 -0.4570 -0.4779
VII. Other misc. incomes 0.00 0.00 0.00 0.00
VIII. Total of misc. incomes 860,121,829.72 712,236,065.26 -1,433,242,891.18 -1,498,675,014.65
Total of misc. incomes attributable to the owners
of the parent company 860,121,829.72 712,236,065.26 -1,433,242,891.18 -1,498,675,014.65
Total misc gains attributable to the minor
shareholdersBengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
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4.4 Cash Flow Statement from the beginning of year to the end of report term.
Prepared by: Bengang Steel Plates Co., Ltd. Jan-Sept 2010 RMB Yuan
Amount of the Current Term Amount of the Previous Term
Items
Consolidated Parent company Consolidated Parent company
I. Net cash flow from business operation
Cash received from sales of products and
providing of services 23,340,939,393.14 23,356,842,088.62 21,066,349,988.45 20,987,557,927.19
Net increase of customer deposits and capital kept
for brother company
Net increase of loans from central bank
Net increase of inter-bank loans from other
financial bodies
Cash received against original insurance contract
Net cash received from reinsurance business
Net increase of client deposit and investment
Net increase of trade financial asset disposal
Cash received as interest, processing fee, and
commission
Net increase of inter-bank fund received
Net increase of repurchasing business
Tax returned 83,943,893.81 80,970,050.35 50,000.00
Other cash received from business operation 23,724,955.07 22,197,790.08 18,623,195.60 17,263,780.53
Sub-total of cash inflow from business
activities 23,448,608,242.02 23,460,009,929.05 21,085,023,184.05 21,004,821,707.72
Cash paid for purchasing of merchandise and
services 20,034,016,709.49 20,261,016,709.49 18,812,740,908.99 18,782,740,908.99
Net increase of client trade and advance
Net increase of savings in central bank and
brother company
Cash paid for original contract claim
Cash paid for interest, processing fee and
commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 1,426,716,893.20 1,419,455,642.79 812,551,693.30 808,505,147.30
Taxes paid 1,083,263,361.31 1,016,641,513.00 338,433,022.62 321,407,909.19
Other cash paid for business activities 265,599,190.09 245,265,858.79 206,665,836.69 199,514,150.68
Sub-total of cash outflow from business
activities 22,809,596,154.09 22,942,379,724.07 20,170,391,461.60 20,112,168,116.16
Cash flow generated by business operation,
net 639,012,087.93 517,630,204.98 914,631,722.45 892,653,591.56
II. Cash flow generated by investing
Cash received from investment retrieving
Cash received as investment gains
Net cash retrieved from disposal of fixed assets,
intangible assets, and other long-term assets 165,718.00 165,568.00
Net cash received from disposal of subsidiaries or
other operational units
Other investment-related cash received
Sub-total of cash inflow due to investment
activities 165,718.00 165,568.00Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
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Cash paid for construction of fixed assets,
intangible assets and other long-term assets 3,079,328,050.71 2,454,787,922.39 2,682,939,004.87 2,682,939,004.87
Cash paid as investment 68,888,980.00 328,888,980.00
Net increase of loan against pledge
Net cash received from subsidiaries and other
operational units
Other cash paid for investment activities
Sub-total of cash outflow due to investment
activities 3,148,217,030.71 2,783,676,902.39 2,682,939,004.87 2,682,939,004.87
Net cash flow generated by investment -3,148,051,312.71 -2,783,511,334.39 -2,682,939,004.87 -2,682,939,004.87
III. Cash flow generated by financing
Cash received as investment
Incl. Cash received as investment from minor
shareholders
Cash received as loans 6,162,898,612.31 5,652,898,612.31 5,090,533,139.93 5,090,533,139.93
Cash received from bond placing
Other financing-related cash received
Subtotal of cash inflow from financing
activities 6,162,898,612.31 5,652,898,612.31 5,090,533,139.93 5,090,533,139.93
Cash to repay debts 4,462,000,204.31 4,462,000,204.31 4,246,865,259.20 4,246,865,259.20
Cash paid as dividend, profit, or interests 259,569,568.21 259,569,568.21 316,119,789.54 316,119,789.54
Incl. Dividend and profit paid by subsidiaries to
minor shareholders
Other cash paid for financing activities
Subtotal of cash outflow due to financing
activities 4,721,569,772.52 4,721,569,772.52 4,562,985,048.74 4,562,985,048.74
Net cash flow generated by financing 1,441,328,839.79 931,328,839.79 527,548,091.19 527,548,091.19
IV. Influence of exchange rate alternation on cash and
cash equivalents -37,612.63 -37,612.63 -157,918.71 -157,918.71
V. Net increase of cash and cash equivalents -1,067,747,997.62 -1,334,589,902.25 -1,240,917,109.94 -1,262,895,240.83
Plus: Balance of cash and cash equivalents at the
beginning of term 2,842,961,050.60 2,795,043,926.41 2,220,835,995.51 2,209,824,428.24
VI. Balance of cash and cash equivalents at the end of
term 1,775,213,052.98 1,460,454,024.16 979,918,885.57 946,929,187.41
4.5 Auditors’ Report
Auditor’s opinion: not audited.
