Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2013
Bengang Steel Plates Co., Ltd.
The 1st Quarterly Report 2013
April 2013
1
Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2013
Chapter I. Important Statement
The Board of Directors, the Supervisory Committee, the directors, the supervisors and the executives 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.
Chairman of the Board – Zhang Xiaofang, Chief Financial Officer – Mr. Cao Aimin, and Head of Accounting
Dept. – Mr. Wang Shaoyu hereby declare: the authenticity and integrality of the report are guaranteed.
All of the directors presented the board meeting at which this Quarterly Report was examined.
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2013
Chapter II. Financial Highlights and Change of Shareholders
I. Major Financial Data and Indicies
Was there any retrospective adjustment or restatement
[] Yes [V] No
Increase/decrease
Jan-Mar 2013 Jan-Mar 2012
(%)
Turnover (RMB) 11,164,968,781.08 10,681,123,455.80 4.53%
Net profit attributable to shareholders of the listed company (yuan) 102,861,884.34 88,094,799.55 16.76%
Net profit attributable to the shareholders of the listed company and
92,877,223.31 87,811,390.16 5.77%
after deducting of non-recurring gain/loss(RMB)
Net Cash flow generated by business operation (RMB) -653,089,936.96 579,960,675.89 -212.61%
Basic earnings per share (Yuan/share) 0.03 0.03 0%
Diluted earnings per share (Yuan/share) 0.03 0.03 0%
Weighted average net
0.67% 0.56% 0.11%
income/asset ratio (%)
Mar 31 2013 Dec 31 2012 Changed by (%)
Gross Assets (RMB) 38,646,198,335.41 38,326,373,659.17 0.83%
Net asset attributable to owners of the PLC 15,388,741,072.24 15,280,805,514.53 0.71%
Non-recurring gain/loss items and amounts
[V] Applicable Not applicable
In RMB Yuan
Amount of the period from the
Items beginning of year to the end of Remarks
report term
Gain/loss from disposal of non-current assets (includes the recovered part of asset
1,176.92
impairment provision already provided)
Gains and losses included in the current period of government subsidies, excluding those
government grants which are closely related to normal business and in line with national 3,290,000.00
policy , or in accordance with fixed standards or quantities
Gain/loss from debt reorganization 9,356,398.96
Other non-business income and expenditures other than the above 665,305.49
Influenced amount of income tax 3,328,220.34
Total 9,984,661.03 --
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2013
II. Total of shareholders and top-10 holders of current shares at end of period
in shares
Total shareholders at the end of the report period 55,881
Top 10 Shareholders
Properties of Share proportion Amount of unconditional Frozen or pledged
Name of the shareholder Amount of shares
shareholder (%) shares held Status of shares Amount
State-owned
Benxi Steel (Group) Ltd. 82.07% 2,573,632,420
legal person
GOVERNMENT OF SINGAPORE Overseas legal
0.88% 27,589,238
INV. CORP.- A/C "C" person
China Construction Bank –
Shangtou Morgan China Advantage 0.6% 18,700,000
Securities Investment Fund
GSIC A/C MONETARY Overseas legal
0.34% 10,754,117
AUTHORITY OF SINGAPORE person
Domestic
Zhou Jie 0.33% 10,465,000
natural person
MORGAN STANLEY & CO. Overseas legal
0.3% 9,317,318
INTERNATIONAL PLC person
BBH A/C VANGUARD
Overseas legal
EMERGING MARKETS STOCK 0.18% 5,561,100
person
INDEX FUND
Overseas legal
APS CHINA ALPHA FUND 0.15% 4,616,701
person
NOMURA TST N BK CO.,LTD
Overseas legal
ATTF ASIA ATTR DIV STK FD 0.14% 4,333,386
person
MTH FD
Taifook Securities Company Overseas legal
0.14% 4,277,109
Limited-Account Client person
Top 10 holders of unconditional shares
Category of shares
Name of the shareholder Amount of shares without trade limited conditions
Category of shares Amount
Benxi Steel (Group) Ltd. 2,573,632,420 RMB common shares 2,573,632,420
GOVERNMENT OF SINGAPORE INV. CORP.- Foreign shares placed in
27,589,238 27,589,238
A/C "C" domestic exchange
China Construction Bank – Shangtou Morgan
18,700,000 RMB common shares 18,700,000
China Advantage Securities Investment Fund
GSIC A/C MONETARY AUTHORITY OF Foreign shares placed in
10,754,117 10,754,117
SINGAPORE domestic exchange
Foreign shares placed in
Zhou Jie 10,465,000 10,465,000
domestic exchange
MORGAN STANLEY & CO. INTERNATIONAL Foreign shares placed in
9,317,318 9,317,318
PLC domestic exchange
BBH A/C VANGUARD EMERGING MARKETS Foreign shares placed in
5,561,100 5,561,100
STOCK INDEX FUND domestic exchange
Foreign shares placed in
APS CHINA ALPHA FUND 4,616,701 4,616,701
domestic exchange
NOMURA TST N BK CO.,LTD ATTF ASIA ATTR Foreign shares placed in
4,333,386 4,333,386
DIV STK FD MTH FD domestic exchange
Taifook Securities Company Limited-Account Foreign shares placed in
4,277,109 4,277,109
Client domestic exchange
It is unknown to the Company whether there is any related connection or ‘Action in Concert’ as described
Notes to relationship or “action in concert” among
by Rules of Information Disclosing Regarding Changing of Shareholding Status of Listed Companies
the top ten shareholders.
existing among the above shareholders.
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2013
Chapter III. Significant Issues
I. Particulars and causations of material change in major accounting items and indices
* Major items in the consolidated statements which have changed by over 30% and causations
I. Balance sheet items Percentage of Causations
change
Tax payable -413% Decrease of VAT payable
Interest payable 43% Increase of interest to be calculated on loans repaid with
interest
Long-term loans -33% Increase of transferring from long-term loans to long-term
loans due in one year
Special reserves 1630% Decrease of safety fee provided
* Major items in the consolidated statements which have changed by over 30% and causations
II. Income statement items Percentage of Causations
change
Sales expenses 32% Increase of freight and port fee
Administration expenses -32% Social insurances of employees are transferred to
production cost or expenses according to the objects of
services
Non-operational income 2493% Increase of gains from debt reorganizing
Non-operational expenses -100% Decrease of loss from fixed asset disposal
Minority shareholders’ equity 345% Increase of loss of controlled subsidiaries
III. Cash flow statement Percentage of Causations
change
Tax refund received -91% Decrease of tax refund received
Taxes paid 70% Increase of VAT
Cash paid for construction of fixed assets, -32% Decrease of cash paid for construction project
intangible assets and other long-term assets
II. Analyze of significant issues and solutions
None
Summary of material issues Date of disclosure Index of provisional announcement
III. Business forcasting for Jan-Jun 2013
Alert of loss or significant change in net profit from the beginning of year to the end of next report period or comparing with the
same period of last year, and statement of causations.
[] Applicable; [V] Not applicable
IV. Reception of investigation, commmunication, or visiting in report period
Main content involved and
Time/date Place Way Type of visitors Visitors
material provided
Office of the
Jan 31 2013 Field research Institute Jiashi Foundation Business operation
secretary of Board
Office of the
Feb 27 2013 Field research Institute Galaxy Securities Business operation
secretary of Board
Pengyuan Credit
Office of the
Mar 04 2013 Field research Institute Assessment Co., Business operation
secretary of Board
Ltd.
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2013
Chapter IV. Financial Statements
I. Financial Statements
1. Consolidated Balance Sheet
Bengang Steel Plate Co., Ltd.
In RMB Yuan
Items Closing balance Openning balance
Current asset:
Monetary capital 2,769,574,785.91 3,620,975,109.53
Settlement provision 0.00 0.00
Outgoing call loan 0.00 0.00
Transactional financial assets 0.00 0.00
Notes receivable 3,520,837,574.51 2,942,033,786.43
Account receivable 273,790,295.88 285,077,905.13
Prepayment 653,600,291.32 646,868,304.90
Insurance receivable 0.00 0.00
Reinsurance receivable 0.00 0.00
Provisions of Reinsurance contracts receivable 0.00 0.00
Interest receivable 0.00 0.00
Dividend receivable 0.00 0.00
Other account receivable 254,991,680.67 223,531,628.08
Repurchasing of financial assets 0.00 0.00
Inventories 10,689,926,153.45 9,793,719,875.93
Non-current asset due in 1 year 0.00 0.00
Other current asset 182,211,823.73 182,211,823.73
Total of current asset 18,344,932,605.47 17,694,418,433.73
Non-current assets
Disburse of consigned loans 0.00 0.00
Sellable financial asset 0.00 0.00
Expired investment in possess 0.00 0.00
Long-term receivable 0.00 0.00
Long-term share equity investment 15,914,835.63 15,914,835.63
Investment real estates 0.00 0.00
Fixed assets 16,782,537,498.31 17,109,088,074.16
Construction in process 3,306,809,830.88 3,311,253,843.64
Engineering goods 6,473,734.52 5,598,691.84
Fixed asset disposal 0.00 0.00
Production physical assets 0.00 0.00
Gas & petrol 0.00 0.00
Intangible assets 108,602,285.10 109,172,234.67
R&D expense 0.00 0.00
Goodwill 0.00 0.00
Long-term amortizable expenses 0.00 0.00
Deferred income tax asset 80,927,545.50 80,927,545.50
Other non-current asset 0.00 0.00
Total of non-current assets 20,301,265,729.94 20,631,955,225.44
Total of assets 38,646,198,335.41 38,326,373,659.17
Current liabilities
Short-term loans 10,334,042,064.53 9,385,322,164.53
Loan from Central Bank 0.00 0.00
Deposit received and hold for others 0.00 0.00
Call loan received 0.00 0.00
Transactional financial liabilities 0.00 0.00
Notes payable 423,884,585.83 349,101,821.61
Account payable 5,306,079,692.01 5,376,244,858.97
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2013
Advances received 2,852,843,783.14 2,916,409,742.49
Selling of repurchased financial assets 0.00 0.00
Fees and commissions receivable 0.00 0.00
Employees’ wage payable 69,840,243.21 69,133,733.89
Tax payable -89,227,089.17 28,463,783.22
Interest payable 12,931,589.29 9,030,341.06
Dividend payable 0.00 0.00
Other account payable 640,235,262.95 696,793,542.48
Reinsurance fee payable 0.00 0.00
Insurance contract provision 0.00 0.00
Entrusted trading of securities 0.00 0.00
Entrusted selling of securities 0.00 0.00
Non-current liability due in 1 year 1,868,175,023.94 1,689,992,983.62
Other current liability 0.00 0.00
Total of current liability 21,418,805,155.73 20,520,492,971.87
Non-current liabilities
Long-term borrowings 1,504,885,209.01 2,250,862,074.74
Bond payable 0.00 0.00
Long-term payable 0.00 0.00
Special payable 0.00 0.00
Anticipated liabilities 0.00 0.00
Deferred income tax liability 0.00 0.00
Other non-recurring liabilities 299,796,794.31 239,456,794.31
Total of non-current liabilities 1,804,682,003.32 2,490,318,869.05
Total of liability 23,223,487,159.05 23,010,811,840.92
Owners’ equity (or shareholders’ equity)
Capital paid in (or share capital) 3,136,000,000.00 3,136,000,000.00
Capital reserves 8,822,821,134.76 8,822,821,134.76
Less: Shares in stock 0.00 0.00
Special reserves 5,384,898.18 311,224.81
Surplus reserves 934,045,040.35 934,045,040.35
Common risk provision 0.00 0.00
Retained profit 2,490,489,998.95 2,387,628,114.61
Different of foreign currency translation 0.00 0.00
Total of owner’s equity belong to the parent company 15,388,741,072.24 15,280,805,514.53
Minor shareholders’ equity 33,970,104.12 34,756,303.72
Total of owners’ equity (or shareholders’ equity) 15,422,711,176.36 15,315,561,818.25
Total of liability and shareholders’ equity (or owners’ equity) 38,646,198,335.41 38,326,373,659.17
Legal representative: Zhang Xiaofang CFO: Cao Aimin Accounting Manager: Wang Shaoyu
2. Balance Sheet of the Parent Company
Bengang Steel Plate Co., Ltd.
In RMB Yuan
Items Closing balance Openning balance
Current asset:
Monetary capital 2,721,486,979.64 3,480,999,428.60
Transactional financial assets 0.00 0.00
Notes receivable 3,360,451,650.11 2,859,369,336.34
Account receivable 767,137,186.49 768,963,743.00
Prepayment 385,744,573.73 419,012,587.31
Interest receivable 0.00 0.00
Dividend receivable 0.00 0.00
Other account receivable 804,226,721.89 628,030,340.75
Inventories 9,777,426,437.44 8,864,691,520.27
Non-current asset due in 1 year 0.00 0.00
Other current asset 182,211,823.73 182,211,823.73
Total of current asset 17,998,685,373.03 17,203,278,780.00
Non-current assets
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2013
Sellable financial asset 0.00 0.00
Expired investment in possess 0.00 0.00
Long-term receivable 0.00 0.00
Long-term share equity investment 1,185,147,561.06 1,185,147,561.06
Investment real estates 0.00 0.00
Fixed assets 16,292,545,792.26 16,609,887,181.29
Construction in process 1,533,348,877.20 1,567,292,769.94
Engineering goods 6,473,734.52 5,598,691.84
Fixed asset disposal 0.00 0.00
Production physical assets 0.00 0.00
Gas & petrol 0.00 0.00
Intangible assets 0.00 0.00
R&D expense 0.00 0.00
Goodwill 0.00 0.00
Long-term amortizable expenses 0.00 0.00
Deferred income tax asset 85,217,223.64 85,217,223.64
Other non-current asset 0.00 0.00
Total of non-current assets 19,102,733,188.68 19,453,143,427.77
Total of assets 37,101,418,561.71 36,656,422,207.77
Current liabilities
Short-term loans 10,282,306,900.00 9,333,587,000.00
Transactional financial liabilities 0.00 0.00
Notes payable 422,797,785.83 347,757,821.61
Account payable 5,567,025,526.43 5,524,697,173.86
Advances received 2,250,276,658.15 2,330,367,617.99
Employees’ wage payable 69,396,972.62 68,525,517.05
Tax payable 94,007,421.00 206,885,819.95
Interest payable 10,980,902.78 7,986,111.11
Dividend payable 0.00 0.00
Other account payable 484,968,314.12 457,426,075.41
Non-current liability due in 1 year 1,868,175,023.94 1,689,992,983.62
Other current liability 0.00 0.00
Total of current liability 21,049,935,504.87 19,967,226,120.60
Non-current liabilities
Long-term borrowings 904,885,209.00 1,650,862,074.74
Bond payable 0.00 0.00
Long-term payable 0.00 0.00
Special payable 0.00 0.00
Anticipated liabilities 0.00 0.00
Deferred income tax liability 0.00 0.00
Other non-recurring liabilities 213,755,557.20 153,790,424.00
Total of non-current liabilities 1,118,640,766.20 1,804,652,498.74
Total of liability 22,168,576,271.07 21,771,878,619.34
Owners’ equity (or shareholders’ equity)
Capital paid in (or share capital) 3,136,000,000.00 3,136,000,000.00
Capital reserves 8,822,821,134.76 8,822,821,134.76
Less: Shares in stock 0.00 0.00
Special reserves 5,384,898.18 311,224.81
Surplus reserves 934,045,040.35 934,045,040.35
Common risk provision 0.00 0.00
Retained profit 2,034,591,217.35 1,991,366,188.51
Different of foreign currency translation
Total of owners’ equity (or shareholders’ equity) 14,932,842,290.64 14,884,543,588.43
Total of liability and shareholders’ equity (or owners’ equity) 37,101,418,561.71 36,656,422,207.77
Legal representative: Zhang Xiaofang CFO: Cao Aimin Accounting Manager: Wang Shaoyu
3. Consolidated Income Statement
Bengang Steel Plate Co., Ltd.
In RMB Yuan
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2013
Amount of the Current Amount of the Previous
Items
Term Term
I. Total revenue 11,164,968,781.08 10,681,123,455.80
Incl. Business income 11,164,968,781.08 10,681,123,455.80
Interest income 0.00 0.00
Insurance fee earned 0.00 0.00
Fee and commission received 0.00 0.00
II. Total business cost 11,057,644,744.94 10,578,559,003.82
Incl. Business cost 10,429,899,324.48 9,861,889,044.34
Interest expense 0.00 0.00
Fee and commission paid 0.00 0.00
Insurance discharge payment 0.00 0.00
Net claim amount paid 0.00 0.00
Net insurance policy reserves provided 0.00 0.00
Insurance policy dividend paid 0.00 0.00
Reinsurance expenses 0.00 0.00
Business tax and surcharge 35,841,258.44 32,199,122.80
Sales expense 147,449,069.71 112,048,303.52
Administrative expense 292,685,694.38 427,691,577.38
Financial expenses 151,769,397.93 144,730,955.78
Asset impairment loss 0.00 0.00
Plus: gains from change of fair value (“-“ for loss) 0.00 0.00
Investment gains (“-“ for loss) 0.00 0.00
Incl. Investment gains from affiliates 0.00 0.00
Exchange gains (“-“ for loss) 0.00 0.00
III. Operational profit (“-“ for loss) 107,324,036.14 102,564,451.98
Plus: non-operational income 13,312,881.37 513,443.89
Less: non-operational expenditure 0.00 135,564.71
Incl. Loss from disposal of non-current assets 0.00 0.00
IV. Gross profit (“-“ for loss) 120,636,917.51 102,942,331.16
Less: Income tax expenses 18,561,232.77 15,024,384.45
V. Net profit (“-“ for net loss) 102,075,684.74 87,917,946.71
Including: Net profit realized by the entity taken over before the
0.00 0.00
takover
Net profit attributable to the owners of parent company 102,861,884.34 88,094,799.55
Minor shareholders’ equity -786,199.60 -176,852.84
VI. Earnings per share: -- --
(I) Basic earnings per share 0.03 0.03
(II) Diluted earnings per share 0.03 0.03
VII. Other misc. incomes 0.00 0.00
VIII. Total of misc. incomes 102,075,684.74 87,917,946.71
Total of misc. incomes attributable to the owners of the parent
102,861,884.34 88,094,799.55
company
Total misc gains attributable to the minor shareholders -786,199.60 -176,852.84
Legal representative: Zhang Xiaofang CFO: Cao Aimin Accounting Manager: Wang Shaoyu
4. Income Statement of the Parent Co.
Bengang Steel Plate Co., Ltd.
In RMB Yuan
Items Amount of the Current Term Amount of the Previous Term
I. Turnover 10,943,752,495.92 10,074,351,249.31
Less: Operation cost 10,322,532,219.09 9,357,318,770.07
Business tax and surcharge 35,255,357.49 31,708,063.45
Sales expense 116,524,717.33 79,939,601.66
Administrative expense 285,435,200.81 418,946,897.12
Financial expenses 150,796,353.73 144,873,472.76
Asset impairment loss 0.00 0.00
Plus: gains from change of fair value (“-“ for loss) 0.00 0.00
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2013
Investment gains (“-“ for loss) 0.00 0.00
Incl. Investment gains from affiliates 0.00 0.00
II. Operational profit (“-“ for loss) 33,208,647.47 41,564,444.25
Plus: Non business income 10,016,381.37 223,443.89
Less: Non-business expenses 0.00 135,564.71
Incl. Loss from disposal of non-current assets 0.00 0.00
III. Total profit (“-“ for loss) 43,225,028.84 41,652,323.43
Less: Income tax expenses 0.00 0.00
IV. Net profit (“-“ for net loss) 43,225,028.84 41,652,323.43
V. Earnings per share -- --
(I) Basic earnings per share 0.01 0.01
(II) Diluted earnings per share 0.01 0.01
VI. Other misc gains 0.00 0.00
VII. Total of integrated income 43,225,028.84 41,652,323.43
Legal representative: Zhang Xiaofang CFO: Cao Aimin Accounting Manager: Wang Shaoyu
5. Consolidated Cash Flow Statement
Bengang Steel Plate Co., Ltd.
In RMB Yuan
Amount of the Current Amount of the Previous
Items
Term Term
I. Net cash flow from business operation
Cash received from sales of products and providing of services 7,167,856,352.58 6,765,734,997.15
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 1,649,074.37 18,234,000.00
Other cash received from business operation 65,658,398.15 74,527,303.35
Sub-total of cash inflow from business activities 7,235,163,825.10 6,858,496,300.50
Cash paid for purchasing of merchandise and services 6,975,219,817.31 5,524,313,705.96
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 515,785,608.78 511,105,412.72
Taxes paid 368,811,653.70 216,676,668.16
Other cash paid for business activities 28,436,682.27 26,439,837.77
Sub-total of cash outflow from business activities 7,888,253,762.06 6,278,535,624.61
Cash flow generated by business operation, net -653,089,936.96 579,960,675.89
II. Cash flow generated by investing
Cash received from investment retrieving 0.00 0.00
Cash received as investment profit 0.00 0.00
Net cash retrieved from disposal of fixed assets, intangible assets, and
1,200.00 0.00
other long-term assets
Net cash received from disposal of subsidiaries or other operational units 0.00 0.00
Other investment-related cash received 0.00 0.00
Sub-total of cash inflow due to investment activities 1,200.00 0.00
Cash paid for construction of fixed assets, intangible assets and other
378,897,055.42 557,715,814.80
long-term assets
Cash paid as investment 0.00 0.00
Net increase of loan against pledge 0.00 0.00
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2013
Net cash received from subsidiaries and other operational units 0.00 0.00
Other cash paid for investment activities 0.00 0.00
Sub-total of cash outflow due to investment activities 378,897,055.42 557,715,814.80
Net cash flow generated by investment -378,895,855.42 -557,715,814.80
III. Cash flow generated by financing
Cash received as investment 0.00 0.00
Incl. Cash received as investment from minor shareholders 0.00 0.00
Cash received as loans 2,500,739,500.00 2,176,366,000.00
Cash received from bond placing 0.00 0.00
Other financing-related cash received 0.00 0.00
Subtotal of cash inflow from financing activities 2,500,739,500.00 2,176,366,000.00
Cash to repay debts 2,140,724,838.41 2,099,378,693.96
Cash paid as dividend, profit, or interests 178,909,691.10 165,810,051.59
Incl. Dividend and profit paid by subsidiaries to minor shareholders 0.00 0.00
Other cash paid for financing activities 0.00 0.00
Subtotal of cash outflow due to financing activities 2,319,634,529.51 2,265,188,745.55
Net cash flow generated by financing 181,104,970.49 -88,822,745.55
IV. Influence of exchange rate alternation on cash and cash equivalents -1,179,201.29 981.30
V. Net increase of cash and cash equivalents -852,060,023.18 -66,576,903.16
Plus: Balance of cash and cash equivalents at the beginning of term 3,540,908,609.39 3,242,956,479.92
VI. Balance of cash and cash equivalents at the end of term 2,688,848,586.21 3,176,379,576.76
Legal representative: Zhang Xiaofang CFO: Cao Aimin Accounting Manager: Wang Shaoyu
6. Cash Flow Statement of the Parent Co.
Bengang Steel Plate Co., Ltd.
In RMB Yuan
Amount of the Current Amount of the Previous
Items
Term Term
I. Net cash flow from business operation
Cash received from sales of products and providing of services 7,047,523,958.69 6,681,609,541.40
Tax returned 0.00 17,944,000.00
Other cash received from business operation 62,772,073.62 74,113,448.33
Sub-total of cash inflow from business activities 7,110,296,032.31 6,773,666,989.73
Cash paid for purchasing of merchandise and services 6,870,563,817.31 5,506,134,533.02
Cash paid to staffs or paid for staffs 507,078,135.22 501,299,869.43
Taxes paid 326,733,018.36 192,723,124.06
Other cash paid for business activities 24,820,440.28 22,219,303.95
Sub-total of cash outflow from business activities 7,729,195,411.17 6,222,376,830.46
Cash flow generated by business operation, net -618,899,378.86 551,290,159.27
II. Cash flow generated by investing
Cash received from investment retrieving 0.00 0.00
Cash received as investment profit 0.00 0.00
Net cash retrieved from disposal of fixed assets, intangible assets, and
1,200.00 0.00
other long-term assets
Net cash received from disposal of subsidiaries or other operational units 0.00 0.00
Other investment-related cash received 0.00 0.00
Sub-total of cash inflow due to investment activities 1,200.00 0.00
Cash paid for construction of fixed assets, intangible assets and other
337,756,650.36 488,578,183.90
long-term assets
Cash paid as investment 0.00 0.00
Net cash received from subsidiaries and other operational units 0.00 0.00
Other cash paid for investment activities 0.00 0.00
Sub-total of cash outflow due to investment activities 337,756,650.36 488,578,183.90
Net cash flow generated by investment -337,755,450.36 -488,578,183.90
III. Cash flow generated by financing
Cash received as investment 0.00 0.00
Cash received as loans 2,500,739,500.00 2,175,966,000.00
Cash received from bond placing 0.00 0.00
Other financing-related cash received 0.00 0.00
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Bengang Steel Plates Co., Ltd. The 1 st Quarterly Report 2013
Subtotal of cash inflow from financing activities 2,500,739,500.00 2,175,966,000.00
Cash to repay debts 2,134,523,179.60 2,099,378,693.96
Cash paid as dividend, profit, or interests 169,898,438.41 155,811,194.03
Other cash paid for financing activities 0.00 0.00
Subtotal of cash outflow due to financing activities 2,304,421,618.01 2,255,189,887.99
Net cash flow generated by financing 196,317,881.99 -79,223,887.99
IV. Influence of exchange rate alternation on cash and cash equivalents -1,179,201.29 981.30
V. Net increase of cash and cash equivalents -761,516,148.52 -16,510,931.32
Plus: Balance of cash and cash equivalents at the beginning of term 3,402,276,928.46 3,079,794,798.31
VI. Balance of cash and cash equivalents at the end of term 2,640,760,779.94 3,063,283,866.99
Legal representative: Zhang Xiaofang CFO: Cao Aimin Accounting Manager: Wang Shaoyu
II. Auditors’ Report
If the 1st Quarterly Financial Statements are audited
[] Yes [V] No
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