Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text)
Bengang Steel Plates Co., Ltd.
The 1st Quarterly Report 2015
April 2015
1
Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text)
Chapter I. Important Statement
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.
All of the directors presented the board meeting at which this Quarterly Report was
examined.
Chairman of the Board – Mr. Wang Shu, Chief Financial Officer – Mr. Han Ge, and Head of
Accounting Dept. – Mr. Wang Shaoyu hereby declare: the authenticity and integrality of the
report are guaranteed.
This report is prepared both in versions of Chinese and English. The Chinese version shall
prevail when there are any controversial statements in the two versions.
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Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text)
Chapter II. Financial Highlights and Change of Shareholders
I. Main accounting data and indices
Are there any retrospective adjustment or restatement of financial information of previous year due to change of accounting policies
or correcting of accounting errors?
[] Yes [V] No
Same period last
This report term Increase/decrease (%)
year
Turnover (RMB) 9,571,892,099.49 9,705,291,532.93 -1.37%
Net profit attributable to shareholders of the listed
71,707,881.99 115,963,695.53 -38.16%
company (yuan)
Net profit attributable to the shareholders of the listed
company and after deducting of non-recurring 52,169,643.70 106,695,151.16 -51.10%
gain/loss(RMB)
Net Cash flow generated by business operation (RMB) 601,173,782.82 -1,262,035,328.12 147.64%
Basic earnings per share (Yuan/share) 0.023 0.037 -37.84%
Diluted earnings per share (Yuan/share) 0.023 0.037 -37.84%
Net income on asset, weighted 0.46% 0.75% -0.29%
Ended this report Changed at end of report period
End of prev. year
term over end of previous period
Gross Assets (RMB) 51,392,659,909.37 49,170,603,030.67 4.52%
Net asset attributable to owners of the PLC 15,460,258,132.06 15,384,562,323.08 0.49%
Non-recurring gain/loss items and amounts
[V] Applicable [ ]Not applicable
In RMB Yuan
Amount of the period from
Items the beginning of year to Remarks
the end of report term
Gain/loss from disposal of non-current assets (includes the
recovered part of asset impairment provision already -6,603.93
provided)
Gains and losses included in the current period of
The Company received the government
government subsidies, excluding those government grants
award for discarding of out-of-date
which are closely related to normal business and in line with 19,500,000.00
productions basing upon the government
national policy , or in accordance with fixed standards or
document about the issue of year 2014.
quantities
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Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text)
Gain/loss from commissioned investment or assets 2,452,534.28
Gain/loss from debt reorganization 3,110,378.46
Other non-business income and expenditures other than the
198,247.62
above
Less: Influenced amount of income tax 5,700,505.54
Influence on minority shareholders’ equity (after tax) 15,812.60
Total 19,538,238.29 --
If the company defines those items to recurring gain/loss items, which were defined by “Regulations of Information Disclosure of
PLCs, Explanation No.1 - Non-recurring gain/loss” as non-recurring gain/loss, please provide reason here.
[] Applicable; [V] Not applicable
None of non-recurring gain/loss items recognized as recurring gain/loss items as defined by the Information Disclosure Explanatory
Announcement No.1 – Non-recurring gain/loss in the report period.
II. Total of shareholders and top-10 holders of current shares at end of period
1 Position of shareholders and top-10 holders at end of the report period
in shares
Total common shareholders at the end of the report period 52,353
Top 10 common share holders
Frozen or
Amount of
Properties of Share Amount of pledged
Name of the shareholder unconditional shares
shareholder proportion % shares Status of
held Amount
shares
State-owned
Benxi Steel (Group) Ltd. 81.13% 2,544,110,620
legal person
Overseas legal
GIC PRIVATE LIMITED 0.72% 22,644,061
person
BBH A/C VANGUARD EMERGING Overseas legal
0.26% 8,157,311
MARKETS STOCK INDEX FUND person
GSIC A/C MONETARY AUTHORITY OF Overseas legal
0.23% 7,076,033
SINGAPORE person
Domestic
刘修志 0.15% 4,653,993
natural person
Overseas legal
DWS CHINA EQUITY FUND 0.15% 4,549,984
person
GUOTAI JUNAN Overseas legal
0.11% 3,548,116
SECURITIES(HONGKONG) LIMITED person
Overseas
SEUNG YEOL PARK 0.11% 3,436,395
natural person
Taifook Securities Company Overseas legal
0.11% 3,402,209
Limited-Account Client person
Domestic
Bao Xinfa 0.10% 3,100,004
natural person
Top 10 Holders of Unrestricted Shares
Number of unrestricted shares Category of shares
Name of the shareholder
held Category of shares Amount
Benxi Steel (Group) Ltd. 2,544,110,620 RMB common shares 2,544,110,620
Foreign shares placed in
GIC PRIVATE LIMITED 22,644,061 22,644,061
domestic exchange
BBH A/C VANGUARD EMERGING Foreign shares placed in
8,157,311 8,157,311
MARKETS STOCK INDEX FUND domestic exchange
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Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text)
GSIC A/C MONETARY AUTHORITY OF Foreign shares placed in
7,076,033 7,076,033
SINGAPORE domestic exchange
Liu Xiuzhi 4,653,993 RMB common shares 4,653,993
Foreign shares placed in
DWS CHINA EQUITY FUND 4,549,984 4,549,984
domestic exchange
GUOTAI JUNAN Foreign shares placed in
3,548,116 3,548,116
SECURITIES(HONGKONG) LIMITED domestic exchange
Foreign shares placed in
SEUNG YEOL PARK 3,436,395 3,436,395
domestic exchange
Taifook Securities Company Foreign shares placed in
3,402,209 3,402,209
Limited-Account Client domestic exchange
Foreign shares placed in
Bao Xinfa 3,100,004 3,100,004
domestic exchange
Benxi Steel & Iron (Group) Co., Ltd., the holding shareholder, has no relationship with
any of the other shareholders among the top 10 shareholders, neither being regarded as
action-in-concert parties by the Information Disclosure Regulations for Change of
Shareholding in PLC
Notes to relationship or “action in concert”The Company is not aware of any relationship among the other shareholders, nor of any
among the top ten shareholders. action-in-concert as recognized according to the Information Disclosure Regulations for
Change of Shareholding in PLC.
The Company is not aware of any relationship among the top 10 shareholders, nor of
any action-in-concert as recognized according to the Information Disclosure
Regulations for Change of Shareholding in PLC.
Statement on any of the top 10 holders of
common shares participating in margin None
transaction (if any)
Whether there was any repurchasing deal made between any of the top 10 shareholders and top 10 holders of unrestricted shares in
the report period
[] Yes [V] No
There was not any repurchasing deal made between any of the top 10 shareholders and top 10 holders of unrestricted shares in the
report period
2 Total of shareholders and top-10 preferential shareholders at end of the report period
[] Applicable; [V] Not applicable
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Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text)
Chapter III. Significant Issues
I. Particulars and causations of material change in major accounting items and indices
[V] Applicable [ ]Not applicable
(I) Reducing of shareholding
During the period from January 1 to March 31, 2015, Benxi Steel & Iron (Group) Co., Ltd. – the holding shareholder of the
Company has reduced its shares by 20,319,380 accounting of 0.64% of the total capital shares.
* Major items in the consolidated statements which changed by over 30% comparing with the balances at of the end of 2014
Rate of
I. Balance Sheet Items change Cause of change
Notes receivable 58% Increase of notes receivable unpaid received in the period
Other current asset 64% Increase of financial instruments purchased in the period which are not mature
Engineering goods -90% Increase of engineering material delivered
Notes payable 33% Increase of purchase payment by notes payable
Tax payable 143% Decrease of tax payable at end of the period
Interest payable 35% Increase of interest drawn in advance in the period
Other account payable 84% Increase of transactions owned in the period
Non-current liability due in 1 year 42% Increase of long-term borrowings turned to within 1 year in the period
Special reserves 926% Decrease of safety fee paid in the period
* Major items in the consolidated statements which changed by over 30% comparing with that of Jan-Mar 2014
Rate of
II. Income Statement Items change Cause of change
Business tax and surcharge 231% Increase of tax refunding on exported products
Sales expense 38% Increase of external railway transportation fee paid for 1780 production line
Administrative expense -37% Transferring of rental for 2300 hot-rolling line to production expense
Financial expenses 45% Increase of loans
Investment income -65% Decrease of financial instruments purchased this period
Non-operational income 314% Increase of government award this period
Net profit attributable to the owners of
parent company -38% Decrease of sales prices in the period
Minor shareholders’ equity 1496% Increase of profit contributed by controlled subsidiaries
Rate of
III. Cash Flow Statement change Cause of change
Tax returned 20301% Increase of export tax refunding
Cash flow generated by business Increase of cash received from sales of goods and services, as well as decrease
operation, net 148% of cash paid for purchasing of goods and services
Cash received from investment
retrieving -75% Decrease of financial instruments purchased this period
Cash received as investment profit -65% Decrease of financial instruments purchased this period
Cash paid as investment -51% Decrease of financial instruments purchased this period
Net cash flow generated by investment -2844% Increase of financial instruments purchased this period and not repurchased yet
Subtotal of cash inflow from financing
42.30%
activities Issuing of bonds
Cash to repay debts 38% Increase of loans repaid
Cash paid as dividend, profit, or
interests 73% Increase of interests paid for loans in the period
Enlarge of increasing scale of net amount of company bond and loans comparing
Net cash flow generated by financing
49% with those of last year
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Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text)
II. Analyze of significant issues and solutions
[V] Applicable [ ]Not applicable
On January 26, 2014, as approved by the 5th meeting of the 6th term of Board, the Company was about to issue corporation bond up
to RMB3 billion (included) to the public. This proposal was approved at the 1st shareholders’ provisional meeting of 2014. As
approved by China Securities Regulatory Commission with document 证监许可[2014]880 号 dated August 21, 2014, the Company
issued the corporation bonds with value up to RMB3 billion, in which the 1st issuance was RMB1.5 billion.
According to the “Prospectus of Issuing Corporation Bonds (1st Phase) in 2015”, the Company issued the 1st batch of corporation
bonds with value of RMB1.5 billion and 3 years of term. The face value was RMB100 and interest rate was 5.17%. Interests will be
paid on yearly basis and principal payable at mature. The proceeds from issuing of the corporation bonds will be used to refine
capital structure and repaying of debts.
Summary of material issues Date of disclosure Index of provisional announcement
http://www.cninfo.com.cn China Securities
Announcement of the results of the 1st
February 9, 2015 Journal, Securities Times, Hong Kong
issuance of corporation bonds in 2015
Commercial Daily.
III. Commitment issues of shareholders with 5% or over of shares occurred in the report
period or carried down from previous report periods
[] Applicable; [V] Not applicable
No commitment issues by shareholders with 5% or over of shares in the report period or carried over to the report period from
previous periods
IV. Business forecasting for Jan-Jun 2015
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
V. Securities investment
[] Applicable; [V] Not applicable
No securities investment in the report period.
VI. Statement on holding of other PLCs’ shares
[] Applicable; [V] Not applicable
The Company was not holding shares of any other PLC as of the end of report period.
VII. Investment on derivate instruments
[] Applicable; [V] Not applicable
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Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text)
No derivate instrument investment in the report period.
VIII. Reception of investigations, communications, or interviews
[] Applicable; [V] Not applicable
No investigation, communication, or visiting occurred in report period.
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Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text)
Chapter IV. Financial Statements
I. Financial Statements
1. Consolidated Balance Sheet
Bengang Steel Plate Co., Ltd.
March 31, 2015
In RMB Yuan
Items Closing balance Opening balance
Current asset:
Monetary capital 11,018,481,388.68 9,792,940,409.40
Settlement provision
Outgoing call loan
Financial assets accounted at fair value and fluctuation accounted into current income
Deductive financial assets
Notes receivable 3,301,262,877.64 2,089,039,261.13
Account receivable 420,776,890.42 487,767,042.22
Prepayment 1,237,736,059.63 1,236,314,004.73
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts receivable
Interest receivable 8,763,869.86 7,011,095.89
Dividend receivable
Other account receivable 209,204,608.17 257,708,098.03
Repurchasing of financial assets
Inventories 10,717,636,876.02 11,008,413,817.92
Categorized as asset hold for sale
Non-current asset due in 1 year
Other current asset 749,828,840.97 457,504,509.43
Total of current asset 27,663,691,411.39 25,336,698,238.75
Non-current assets
Loans and payment on other’s behalf disbursed
Sellable financial asset 20,271,278.63 20,271,278.63
Expired investment in possess
Long-term receivable
Long-term share equity investment
Investment real estates
Fixed assets 16,758,645,563.03 17,144,282,253.99
Construction in process 6,489,983,801.16 6,126,175,722.67
Engineering goods 8,598,184.29 90,221,101.46
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 269,975,205.45 271,459,969.75
R&D expense
Goodwill
Long-term amortizable expenses
Deferred income tax asset 181,494,465.42 181,494,465.42
Other non-current asset
Total of non-current assets 23,728,968,497.98 23,833,904,791.92
Total of assets 51,392,659,909.37 49,170,603,030.67
Current liabilities
Short-term loans 18,203,086,005.90 18,187,945,675.93
Loan from Central Bank
Deposit received and hold for others
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Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text)
Call loan received
Financial liabilities booked as current gain/loss at fair value
Deductive financial liability
Notes payable 1,092,354,298.87 822,581,591.46
Account payable 8,927,800,744.44 8,780,948,804.18
Advances received 2,846,972,365.18 3,144,418,091.52
Selling of repurchased financial assets
Fees and commissions receivable
Employees’ wage payable 33,377,811.37 35,383,951.55
Tax payable 78,655,692.53 32,323,181.76
Interest payable 36,302,706.55 26,935,067.99
Dividend payable
Other account payable 865,208,520.53 469,316,015.83
Reinsurance fee payable
Insurance contract provision
Entrusted trading of securities
Entrusted selling of securities
Liabilities categorized as hold for sale
Non-current liability due in 1 year 843,050,000.00 591,740,000.00
Other current liability
Total of current liability 32,926,808,145.37 32,091,592,380.22
Non-current liabilities
Long-term borrowings 596,524,877.37 814,627,465.85
Bond payable 1,500,000,000.00
Incl. Preference Shares
Perpetual liability
Long-term payable
Long-term employee wage payable
Special payable
Expected liabilities
Differed income 427,524,000.00 427,524,000.00
Deferred income tax liability
Other non-recurring liabilities
Total of non-current liabilities 2,524,048,877.37 1,242,151,465.85
Total of liability 35,450,857,022.74 33,333,743,846.07
Owners’ equity:
Share capital 3,136,000,000.00 3,136,000,000.00
Other equity instruments
Incl. Preference Shares
Perpetual liability
Capital reserves 9,114,845,542.05 9,114,845,542.05
Less: Shares in stock
Other misc incomes
Special reserves 4,418,704.93 430,777.94
Surplus reserves 961,105,529.85 961,105,529.85
Common risk provision
Retained profit 2,243,888,355.23 2,172,180,473.24
Total of owner’s equity belong to the parent company 15,460,258,132.06 15,384,562,323.08
Minor shareholders’ equity 481,544,754.57 452,296,861.52
Total of owners’ equity 15,941,802,886.63 15,836,859,184.60
Total of liabilities and owners’ equity 51,392,659,909.37 49,170,603,030.67
Legal representative: Wang Shu CFO: Han Ge Accounting Manager: Wang Shaoyu
2. Balance Sheet of the Parent Company
In RMB Yuan
Items Closing balance Opening balance
Current asset:
Monetary capital 10,818,401,719.73 9,530,304,140.51
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Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text)
Financial assets accounted at fair value and fluctuation accounted into current income
Deductive financial assets
Notes receivable 3,132,639,240.27 1,863,613,673.54
Account receivable 340,602,626.48 388,842,194.63
Prepayment 1,127,838,738.35 1,126,416,683.45
Interest receivable 8,763,869.86 7,011,095.89
Dividend receivable
Other account receivable 239,170,924.54 302,622,013.53
Inventories 8,853,060,395.42 9,215,120,654.72
Categorized as asset hold for sale
Non-current asset due in 1 year
Other current asset 696,444,205.92 404,119,874.38
Total of current asset 25,216,921,720.57 22,838,050,330.65
Non-current assets
Sellable financial asset 18,303,673.00 18,303,673.00
Expired investment in possess
Long-term receivable
Long-term share equity investment 1,690,981,902.16 1,690,981,902.16
Investment real estates
Fixed assets 13,784,694,289.32 14,089,675,221.83
Construction in process 6,428,230,532.46 6,074,588,463.12
Engineering goods 8,598,184.29 90,221,101.46
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 161,174,192.79 162,000,727.11
R&D expense
Goodwill
Long-term amortizable expenses
Deferred income tax asset 81,964,982.51 81,964,982.51
Other non-current asset
Total of non-current assets 22,173,947,756.53 22,207,736,071.19
Total of assets 47,390,869,477.10 45,045,786,401.84
Current liabilities
Short-term loans 17,010,494,329.97 16,028,552,000.00
Financial liabilities booked as current gain/loss at fair value
Deductive financial liability
Notes payable 1,002,248,089.45 732,475,382.04
Account payable 8,977,361,867.78 8,914,580,556.14
Advances received 2,381,206,639.81 2,639,010,215.36
Employees’ wage payable 30,591,775.78 32,213,350.61
Tax payable 56,336,950.91 7,979,826.50
Interest payable 33,030,000.00 5,080,000.00
Dividend payable
Other account payable 43,339,686.29 327,382,843.61
Liabilities categorized as hold for sale
Non-current liability due in 1 year 289,500,000.00 308,740,000.00
Other current liability
Total of current liability 29,824,109,339.99 28,996,014,174.26
Non-current liabilities
Long-term borrowings 867,074,877.37 814,627,465.85
Bond payable 1,500,000,000.00
Incl. Preference Shares
Perpetual liability
Long-term payable
Long-term employee wage payable
Special payable
Expected liabilities
Differed income 427,524,000.00 427,524,000.00
Deferred income tax liability
Other non-recurring liabilities
Total of non-current liabilities 2,794,598,877.37 1,242,151,465.85
Total of liability 32,618,708,217.36 30,238,165,640.11
Owners’ equity:
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Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text)
Share capital 3,136,000,000.00 3,136,000,000.00
Other equity instruments
Incl. Preference Shares
Perpetual liability
Capital reserves 8,694,693,859.93 8,694,693,859.93
Less: Shares in stock
Other misc incomes
Special reserves 4,418,704.93 430,777.94
Surplus reserves 961,105,529.85 961,105,529.85
Retained profit 1,975,943,165.03 2,015,390,594.01
Total of owners’ equity 14,772,161,259.74 14,807,620,761.73
Total of liabilities and owners’ equity 47,390,869,477.10 45,045,786,401.84
3. Consolidated Income Statement
In RMB Yuan
Occurred current Occurred in previous
Items
term term
I. Total revenue 9,571,892,099.49 9,705,291,532.93
Incl. Business income 9,571,892,099.49 9,705,291,532.93
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 9,488,432,136.18 9,592,368,336.50
Incl. Business cost 8,651,587,783.26 8,846,017,381.01
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 26,823,125.71 8,104,819.43
Sales expense 250,933,920.68 181,632,279.49
Administrative expense 189,206,117.29 300,767,064.62
Financial expenses 369,881,189.24 255,846,791.95
Asset impairment loss
Plus: gains from change of fair value (“-“ for loss)
Investment gains (“-“ for loss) 2,452,534.28 6,923,301.36
Incl. Investment gains from affiliates
Exchange gains (“-“ for loss)
III. Operational profit (“-“ for loss) 85,912,497.59 119,846,497.79
Plus: Non business income 22,808,626.08 5,514,010.91
Incl. Gains from disposal of non-current assets 1,834,698.29
Less: Non-business expenses 6,603.93
Incl. Loss from disposal of non-current assets 6,603.93
IV. Gross profit (“-“ for loss) 108,714,519.74 125,360,508.70
Less: Income tax expenses 7,758,744.70 7,564,792.55
V. Net profit (“-“ for net loss) 100,955,775.04 117,795,716.15
Net profit attributable to the owners of parent company 71,707,881.99 115,963,695.53
Minor shareholders’ equity 29,247,893.05 1,832,020.62
VI. Net amount of other gains after tax
Net amount of other gains after tax attributable to owners of parent company
(I) Other gains not able to be relocated to gain/loss afterward
1. Change of net liability or asset of beneficiary plan from recalculating
2. The share of other gains in invested entities under equity basis which are
not able to be relocated to gain/loss categories
(II) Other gains which will be relocated to gain/loss in the future
1. The share of other gains in invested entities under equity basis which are
to be relocated to gain/loss categories
2. Gain/loss from change of fair value of sellable financial asset
3. Gain/loss from relocating of investment held to mature which is
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Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text)
relocated to sellable financial asset
4. Effective part of gain/loss from cash flow hedge operation
5. Difference in translating of foreign currency accounts
6. Others
Net amount of other gains after tax attributable to minority shareholders
VII. Total of integrated income 100,955,775.04 117,795,716.15
Total of misc. incomes attributable to the owners of the parent company 71,707,881.99 115,963,695.53
Total misc gains attributable to the minor shareholders 29,247,893.05 1,832,020.62
VIII. Earning per share
(I) Basic earnings per share 0.023 0.037
(II) Diluted earnings per share 0.023 0.037
If there are entities merged under common control, their net profit realized before the merger were totaled to RMB***. While it was
RMB*** previous period.
Legal representative: Wang Shu CFO: Han Ge Accounting Manager: Wang Shaoyu
4. Income Statement of the Parent Co.
In RMB Yuan
Occurred current Occurred in previous
Items
term term
I. Turnover 10,041,262,488.32 10,207,588,237.56
Less: Operation cost 9,347,835,662.54 9,481,537,382.98
Business tax and surcharge 24,171,920.65 6,250,453.87
Sales expense 213,032,363.48 147,706,703.63
Administrative expense 174,078,341.75 284,850,445.82
Financial expenses 346,685,946.85 213,071,256.16
Asset impairment loss
Plus: gains from change of fair value (“-“ for loss)
Investment gains (“-“ for loss) 2,452,534.28 6,923,301.36
Incl. Investment gains from affiliates
II. Operational profit (“-“ for loss) -62,089,212.67 81,095,296.46
Plus: Non business income 22,648,387.62 4,307,573.45
Incl. Gains from disposal of non-current assets 1,834,698.29
Less: Non-business expenses 6,603.93
Incl. Loss from disposal of non-current assets 6,603.93
III. Total profit (“-“ for loss) -39,447,428.98 85,402,869.91
Less: Income tax expenses
IV. Net profit (“-“ for net loss) -39,447,428.98 85,402,869.91
V. Net amount of other gains after tax
(I) Other gains not able to be relocated to gain/loss afterward
1. Change of net liability or asset of beneficiary plan from recalculating
2. The share of other gains in invested entities under equity basis which
are not able to be relocated to gain/loss categories
(II) Other gains which will be relocated to gain/loss in the future
1. The share of other gains in invested entities under equity basis which
are to be relocated to gain/loss categories
2. Gain/loss from change of fair value of sellable financial asset
3. Gain/loss from relocating of investment held to mature which is
relocated to sellable financial asset
4. Effective part of gain/loss from cash flow hedge operation
5. Difference in translating of foreign currency accounts
6. Others
VI. Total of other gains -39,447,428.98 85,402,869.91
VII. Earning per share
(I) Basic earnings per share -0.03 0.06
(II) Diluted earnings per share -0.03 0.06
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Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text)
5. Consolidated Cash Flow Statement
In RMB Yuan
Occurred current Amount of previous
Items
term period
I. Net cash flow from business operation
Cash received from sales of products and providing of services 7,889,152,266.83 7,095,676,511.89
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 increased amount of financial assets on fair value and with changes
accounted into current gain/loss
Cash received as interest, processing fee, and commission
Net increase of inter-bank fund received
Net increase of repurchasing business
Tax returned 173,412,633.74 850,000.00
Other cash received from business operation 67,169,422.10 73,621,580.71
Sub-total of cash inflow from business activities 8,129,734,322.67 7,170,148,092.60
Cash paid for purchasing of merchandise and services 6,845,828,150.13 7,720,481,609.21
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 530,989,965.62 554,975,247.83
Taxes paid 121,446,057.50 121,871,198.65
Other cash paid for business activities 30,296,366.60 34,855,365.03
Sub-total of cash outflow from business activities 7,528,560,539.85 8,432,183,420.72
Cash flow generated by business operation, net 601,173,782.82 -1,262,035,328.12
II. Cash flow generated by investing
Cash received from investment retrieving 700,000,000.00 2,770,000,000.00
Cash received as investment gains 2,452,534.28 6,923,301.36
Net cash retrieved from disposal of fixed assets, intangible assets, and other
107,010.00
long-term assets
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 702,452,534.28 2,777,030,311.36
Cash paid for construction of fixed assets, intangible assets and other long-term
603,436,817.58 500,552,100.00
assets
Cash paid as investment 1,100,000,000.00 2,240,000,000.00
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 1,703,436,817.58 2,740,552,100.00
Net cash flow generated by investment -1,000,984,283.30 36,478,211.36
III. Cash flow generated by financing
Cash received as investment
Incl. Cash received as investment from minor shareholders
Cash received as loans 3,914,775,807.42 3,805,243,200.00
Cash received from bond placing 1,500,000,000.00
Other financing-related cash received
Subtotal of cash inflow from financing activities 5,414,775,807.42 3,805,243,200.00
Cash to repay debts 3,798,688,565.03 2,755,428,292.59
Cash paid as dividend, profit, or interests 354,035,536.61 205,046,260.11
Incl. Dividend and profit paid by subsidiaries to minor shareholders
Other cash paid for financing activities
Subtotal of cash outflow due to financing activities 4,152,724,101.64 2,960,474,552.70
Net cash flow generated by financing 1,262,051,705.78 844,768,647.30
IV. Influence of exchange rate alternation on cash and cash equivalents 9,393,652.25 2,079,102.30
V. Net increase of cash and cash equivalents 871,634,857.55 -378,709,367.16
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Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text)
Plus: Balance of cash and cash equivalents at the beginning of term 9,774,657,726.06 4,574,532,598.83
VI. Balance of cash and cash equivalents at the end of term 10,646,292,583.61 4,195,823,231.67
6. Cash Flow Statement of the Parent Co.
In RMB Yuan
Occurred current Occurred in previous
Items
term term
I. Net cash flow from business operation
Cash received from sales of products and providing of services 6,428,288,152.41 6,558,858,248.79
Tax returned 130,788,072.89
Other cash received from business operation 62,195,406.33 68,133,994.31
Sub-total of cash inflow from business activities 6,621,271,631.63 6,626,992,243.10
Cash paid for purchasing of merchandise and services 6,391,842,867.92 6,928,852,119.62
Cash paid to staffs or paid for staffs 506,058,465.58 534,154,783.52
Taxes paid 54,400,166.97 82,080,457.99
Other cash paid for business activities 23,545,525.77 25,196,535.32
Sub-total of cash outflow from business activities 6,975,847,026.24 7,570,283,896.45
Cash flow generated by business operation, net -354,575,394.61 -943,291,653.35
II. Cash flow generated by investing
Cash received from investment retrieving 700,000,000.00 2,770,000,000.00
Cash received as investment gains 2,452,534.28 6,923,301.36
Net cash retrieved from disposal of fixed assets, intangible assets, and other
long-term assets
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 702,452,534.28 2,776,923,301.36
Cash paid for construction of fixed assets, intangible assets and other long-term
593,852,993.00 495,274,960.00
assets
Cash paid as investment 1,100,000,000.00 2,240,000,000.00
Net cash received from subsidiaries and other operational units
Other cash paid for investment activities
Sub-total of cash outflow due to investment activities 1,693,852,993.00 2,735,274,960.00
Net cash flow generated by investment -991,400,458.72 41,648,341.36
III. Cash flow generated by financing
Cash received as investment
Cash received as loans 3,814,565,125.77 2,741,933,000.00
Cash received from bond placing 1,500,000,000.00
Other financing-related cash received
Subtotal of cash inflow from financing activities 5,314,565,125.77 2,741,933,000.00
Cash to repay debts 2,721,886,565.03 2,167,273,192.59
Cash paid as dividend, profit, or interests 321,903,494.07 171,830,589.37
Other cash paid for financing activities
Subtotal of cash outflow due to financing activities 3,043,790,059.10 2,339,103,781.96
Net cash flow generated by financing 2,270,775,066.67 402,829,218.04
IV. Influence of exchange rate alternation on cash and cash equivalents 9,392,244.15 4,812,371.68
V. Net increase of cash and cash equivalents 934,191,457.49 -494,001,722.27
Plus: Balance of cash and cash equivalents at the beginning of term 9,512,021,457.17 4,304,424,513.46
VI. Balance of cash and cash equivalents at the end of term 10,446,212,914.66 3,810,422,791.19
II. Auditors’ Report
If the 1st Quarterly Financial Statements are audited?
[] Yes [V] No
This 1st Quarterly Report is not audited.
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