Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
Bengang Steel Plates Co., Ltd.
Third Quarter Report 2017
October 2017
1
Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
I. Important Notice
The Board of Directors, the Supervisory Committee and the Directors, members of
the Supervisory Committee and senior management of the Company guarantee that
there are no misrepresentations or misleading statements, or material omission in this
report, and individually and collectively accept full responsibility for the authenticity,
accuracy and integrity of the information contained in this report.
All the members of the Board of Directors attended the board meeting on which this
report was examined.
Wang Shu, Chairman of the Company, Han Ge, the principal in charge of the
accounting, and Wang Shaoyu, Chief of Accounting Affairs, make the pledge for the
authenticity, accuracy and integrity of the attached financial statements.
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
II. Company Profile
I. Summary of Accounting data and Financial index
Whether the Company makes retroactive adjustment or restatement of the accounting data of the previous year
□ Yes √ No
Increase or decrease in this
At the end of the current
At the end of previous year reporting period over the
period
previous year (%)
Total assets（RMB） 56,692,375,310.29 54,155,710,718.91 4.68%
Net assets attributable to
shareholders of the listed company 14,061,150,233.15 12,715,354,551.15 10.58%
（RMB）
Increase or decrease
From the beginning of Compare to the same
compared to the same
This reporting period the year to the end of period of the previous
period of the previous
the current period year
year
Operating income（RMB） 9,640,672,901.66 31.12% 30,377,159,805.40 52.02%
Net profit attributable to the
shareholders of the listed company 810,662,349.27 106.76% 1,334,298,002.84 132.21%
（RMB）
Net profit after deducting of
non-recurring gain/loss attributable
803,806,749.08 111.39% 1,312,680,172.92 140.97%
to the shareholders of listed
company（RMB）
Net Cash flow generated by
-- -- -4,105,433,271.11 -212.58%
business operation（RMB）
Basic earnings per
0.259 107.20% 0.425 132.24%
share(RMB/Share)
Diluted gains per
0.259 107.20% 0.425 132.24%
share(RMB/Share)
Weighted average net assets yield
6.18% 2.97% 9.97% 5.25%
(%)
Items and amount of non-recurring profit and loss
√ Applicable □ Not applicable
Unit: RMB
From the beginning of the
Items Notes
year to the end of the current
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
period
Profit or loss from disposal of non-current assets (including the
-4,990,694.81
write-off part for which assets impairment provision is made)
Details of government subsidies recorded into current profits and
loss（except such government subsidy closely related to the
company’s normal business operation, meeting the regulation of 22,993,400.00
national policy and enjoyed constantly in certain quota or quantity
according to a certain standard）
Profit or loss from investment or assets entrusted to others 3,294,593.14
Profit or loss from debt restructuring 4,720,886.02
Other non-operating revenue and expenditure other than above
2,879,351.48
items
Less: Impact of income tax 7,224,383.96
Impact of minority interests (after tax) 55,321.95
Total 21,617,829.92 --
For the Company’s non-recurring profit and loss items as defined in “the Explanatory Announcement No.1 on information disclosure
for Companies Offering their Securities to the Public-Non-recurring Profits and Losses” and its non-recurring profit and loss items as
illustrated in “the Explanatory Announcement No.1 on information disclosure for Companies Offering their Securities to the
Public-Non-recurring Profits and Losses” which have been defined as recurring profits and losses, it is necessary to explain the
reason.
□ Applicable √ Not applicable
None of Non-recurring profit and loss items recognized as recurring profit and loss items as defined by “the Explanatory
Announcement No.1 on information disclosure for Companies Offering their Securities to the Public-Non-recurring Profits and
Losses” in the report period.
II. Total Number of Shareholders and Shareholding of top 10 shareholders
1. Total number of common shareholders, preferred shareholders whose voting rights restored, and
shareholding of top 10 shareholders
Unit: Share
The total number of
Total number of common preferred shareholders whose
shareholders at the end of the 68,506 voting rights restored at the 0
reporting period end of the reporting period
（If any）
Shareholding of top 10 shareholders
Name of the Nature of Holding Restricted shares Quantity of pledged or frozen shares
Number of shares
shareholder shareholder Percentage held Status Quantity
Benxi Steel & State-owned legal 72.84% 2,284,411,202 Pledged 1,483,095,133
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
Iron (Group) Co., person
Frozen 45,000,000
Ltd.
Domestic natural
Ma Tengyun 0.42% 13,298,900
person
Bank of
Communication
Limited-Changxi
n Quantification Others 0.30% 9,474,258
Pioneer Mixed
Securities
Investment Fund
BBH A/C
VANGUARD
EMERGING Overseas legal
0.26% 8,157,311
MARKETS person
STOCK INDEX
FUND
Industrial and
Commercial
Bank of China
Limited-South Others 0.24% 7,452,851
Big Data 100
Index Securities
Investment Fund
GUOTAI
JUNAN
Overseas legal
SECURITIES(H 0.17% 5,376,122
person
ONGKONG)
LIMITED
Domestic natural
Chen Jinhong 0.16% 5,077,500
person
VANGUARD
TOTAL
Overseas legal
INTERNATION 0.15% 4,606,141
person
AL STOCK
INDEX FUND
Domestic natural
Yu Xiaofan 0.14% 4,409,896
person
Domestic natural
Liu Shihong 0.12% 3,859,240
person
Shareholding of top 10 shareholders of unrestricted shares
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
Category of shares
Name of the shareholder Number of un-restricted shares held Category of
Quantity
shares
Common shares
Benxi Steel & Iron (Group) Co., Ltd. 2,284,411,202 2,284,411,202
in RMB
Common shares
Ma Tengyun 13,298,900 13,298,900
in RMB
Bank of Communication
Limited-Changxin Quantification Common shares
9,474,258 9,474,258
Pioneer Mixed Securities Investment in RMB
Fund
Foreign shares
BBH A/C VANGUARD
placed in
EMERGING MARKETS STOCK 8,157,311 8,157,311
domestic
INDEX FUND
exchange
Industrial and Commercial Bank of
Common shares
China Limited-South Big Data 100 7,452,851 7,452,851
in RMB
Index Securities Investment Fund
Foreign shares
GUOTAI JUNAN
placed in
SECURITIES(HONGKONG) 5,376,122 5,376,122
domestic
LIMITED
exchange
Common shares
Chen Jinhong 5,077,500 5,077,500
in RMB
Foreign shares
VANGUARD TOTAL
placed in
INTERNATIONAL STOCK INDEX 4,606,141 4,606,141
domestic
FUND
exchange
Foreign shares
placed in
Yu Xiaofan 4,409,896 4,409,896
domestic
exchange
Foreign shares
placed in
Liu Shihong 3,859,240 3,859,240
domestic
exchange
Notes to relationship or ‘action in
concert’ among the top 10 It is unknown to the Company whether there is any related connection or action-in-concert
non-restricted shareholders, and parties among the top 10 un-restricted shareholders.
among the top 10 non-restricted
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
shareholders and top 10 shareholders
Shareholders among the top 10
participating in securities margin None
trading (if any)
Whether top 10 common shareholders and top 10 un-restricted common shareholders have a buy-back agreement
dealing in reporting period
□ Yes √ No
Top 10 common shareholders and top 10 un-restricted common shareholders had no buy-back agreement dealing
in reporting period.
2. Total Number of Preferred Shareholders and Shareholding of Top 10 Preferred Shareholders
□ Applicable √ Not applicable
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
III. Important Events
I. Major Changes in Financial Data and Financial Index And Reason
√ Applicable □ Not applicable
Items and reasons for the change of more than 30% compared with the beginning of the year in the consolidated statement
1. Items of Financial Position Increase/
Reasons
Statement Decrease
Notes receivables 126% Due to an increase in debt collection
Interests receivables -32% Due to a decrease of interest accrued on fixed time deposits
Other receivables 30% Due to an increase in receivables and payables
Other current assets -48% Due to the reduction of short-term banking products
Available-for-sale financial assets -61% Due to the transfer to long-term equity investments
Construction materials -41% Due to a decrease in using construction materials
-60% Due to the use of deferred tax assets to cover the deficit during the current
Deferred tax assets
period
Notes payables -38% Due to the solution pay of notes at maturity
Employee benefits payable 78% Due to an increase on employee benefits
Current tax liabilities -56% Due to a decrease in current tax liabilities at the end of the current period
Non-current liabilities due within one 373%
Due to an increase in long-term loans due within one year
year
Long-term loans -38% Due to a decrease in long-term loans
Special reserves 3085% Due to a decrease in expenses for safety use
Undistributed profits 268% Due to an increase in net profits
Items and reasons for the change of more than 30% compared to January to September, 2016 in the consolidated statement
2. Statement of comprehensive Increase/
Reasons
income Decrease
Operating income 52% The settlement price of products increased over the beginning of the year.
Operating cost 57% Purchase price of materials increased over the beginning of the year.
Property tax, land use tax, vehicle and vessel use tax, stamp tax are reclassified
Taxes and surcharges 212% from “General and administrative expenses” to “Tax and surcharges” this
period.
Selling and distribution expenses 32% Freight expenses increased over the beginning of the year.
Financial expenses -33% Net exchange losses increased over the beginning of the year.
Asset impairment loss 1577% The price of products increased and the preparation on
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
inventory-valuation loss is offset.
Income from short-term financial products increased over same period in
Income on investment 479%
previous year.
Non-operating expenses 7942% Fixed assets disposal loss increased over the beginning of the year.
Attributable to owners of parent
132% The price of products increased over the beginning of the year.
company
Attributable to non-controlling
-82% Profit of the holding subsidiaries decreased over the beginning of the year.
shareholders
Increase/
3. Statement of cash flows Reasons
Decrease
Tax rebate received -30% Tax rebate received decreased over the beginning of the year.
Cash paid for goods and services 102% Cash paid for goods and services increased over the beginning of the year.
Cash paid for all types of taxes 62% Cash paid for all types of taxes increased over the beginning of the year.
Net cash flows from operating activities -213% Cash flows from operating activities increased over the beginning of the year.
Cash received from return on Short-term banking products received this period increased over same period in
41%
investments previous year.
Cash received from distribution of
479% Income from financial products increased over same period in previous year.
dividends or profit
Cash paid for acquisition of investments -34% Short-term banking products purchased this period reduced.
Cash received from borrowings 51% Cash received from bank loans increased over the beginning of the year.
Net cash flows from financing activities 522% Net financed assets increased over the beginning of the year.
II. The progress of significant events and influence, as well as the analysis and explanation on
resolving proposal.
□ Applicable √ Not applicable
III. The Under-Fulfillment Commitments by the End of the Period Made by Actual
Controller, Acquirer, Director, Supervisor, Senior Management Personnel and other Related
Parties.
□ Applicable √ Not applicable
There was no under-fulfillment commitment by the end of the period made by actual controller, acquirer, director, supervisor, senior
management personnel and other related parties.
IV. Forecast towards Operating Performance of 2017
Warning and reason for that forecast of the cumulative net profit from the beginning of the year to the end of the next reporting
period might be a loss or due to significant change compared to the previous year
□ Applicable √ Not applicable
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
V. Investment in Securities
□ Applicable √ Not applicable
There is no investment in securities during the reporting period.
VI. Investment in Derivatives
□ Applicable √ Not applicable
There is no investment in derivatives during the reporting period.
VII. Registration form of Activities such as Research, Communication, Interview in this
Reporting Period
√ Applicable □ Not applicable
Reception time Way of reception Types of visitors Basic index
20 July, 2017 Onsite investigation Organization http://www.cninfo.com.cn
VIII. Violation of Regulations in Provision of External Guaranty
□ Applicable √ Not applicable
There is no violation of regulations in provision of external guaranty during the reporting period.
IX. Illustrations of Non-Operating Occupation of Funds by the Controlling Shareholder and
Related Parties
□ Applicable √ Not applicable
There are no non-operating occupation of funds by the controlling shareholder and related parties
X. Performing Corporation Social Responsibility of Targeted Poverty Alleviation
The company has not carried out targeted poverty alleviation work during the reporting period, and has no plan for follow-up targeted
poverty alleviation.
IV. Financial Statements
I. Financial Statements
1. CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Prepared by: Bengang Steel Plates Co., Ltd.
30 September 2017
Unit: RMB
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
Items Ending balance Beginning balance
Current assets:
Cash at bank and on hand 12,382,277,330.45 12,931,912,017.84
Settlement provisions
Capital lent
Financial assets at fair value through
profit or loss
Derivative financial assets
Notes receivable 4,591,065,268.47 2,030,681,138.03
Accounts receivable 593,371,229.51 623,865,427.25
Prepayments 597,926,580.84 493,839,659.44
Premium receivable
Reinsurance accounts receivable
Receivable deposit for reinsurance
contract
Interests receivable 2,873,285.16 4,208,818.85
Dividends receivable
Other receivables 153,329,935.10 117,909,972.49
Redemptory financial assets for sale
Inventories 10,737,088,464.68 9,782,173,936.74
Assets classified as held for sale
Non-current assets due within one
year
Other current assets 266,731,866.97 513,398,815.83
Total current assets 29,324,663,961.18 26,497,989,786.47
Non-current assets:
Loan and advances issued
Available-for-sale financial assets 5,856,585.63 14,856,585.63
Held-to-maturity investment
Long-term receivables
Long-term equity investments
Investment properties
Fixed assets 19,220,677,904.84 20,688,468,637.44
Construction in progress 7,692,896,205.61 6,210,673,674.11
Construction materials 4,558,919.60 7,783,370.29
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
Disposal of fixed assets
Productive biological assets
Oil and gas assets
Intangible assets 255,376,344.53 259,837,410.93
Development expenditure
Goodwill
Long-term deferred expenses
Deferred tax assets 188,345,388.90 476,101,254.04
Other non-current assets
Total non-current assets 27,367,711,349.11 27,657,720,932.44
Total assets 56,692,375,310.29 54,155,710,718.91
Current Liabilities:
Short-term loans 23,691,178,750.00 18,762,472,779.48
Loan from central bank
Absorbed deposit and interbank
deposit
Loan from other financial institutions
Financial liabilities at fair value
through profit or loss
Advance from customers
Notes payable 3,958,342,631.60 6,372,173,897.13
Accounts payable 4,648,449,675.39 5,680,244,661.52
Advance from customers 3,148,966,302.80 3,679,477,129.80
Financial assets sold for repurchase
Handling charges and commission
payable
Employee benefits payable 42,905,543.60 24,063,493.70
Current tax liabilities 20,253,168.60 45,771,585.46
Interests payable 62,437,326.76 75,115,265.66
Dividends payable
Other payables 441,012,518.96 460,009,213.78
Reinsurance accounts payable
Provision for insurance contract
Receipt from vicariously traded
securities
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
Receipt from vicariously underwriting
securities
Liabilities held for sale
Non-current liabilities due within one
2,071,159,300.00 437,669,535.66
year
Other current liabilities
Total current liabilities 38,084,705,217.71 35,536,997,562.19
Non-current liabilities:
Long-term loans 2,127,071,927.87 3,448,931,721.62
Bonds payable 1,498,275,260.78 1,494,825,782.32
Including: Preferred stock
Perpetual bond
Long-term payables
Long-term employee benefits payable
Special accounts payable
Estimated liabilities
Deferred income 388,878,500.00 410,399,000.00
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 4,014,225,688.65 5,354,156,503.94
Total liabilities 42,098,930,906.36 40,891,154,066.13
Shareholders’ equity:
Share capital 3,136,000,000.00 3,136,000,000.00
Other equity instruments
Including: Preferred stock
Perpetual bond
Capital reserves 9,114,845,542.05 9,114,845,542.05
Less: treasury shares
Other comprehensive income
Special reserves 11,870,401.02 372,721.86
Surplus reserves 961,105,529.85 961,105,529.85
General risk reserve
Undistributed profits 837,328,760.23 -496,969,242.61
Total equity attributable to equity holders
14,061,150,233.15 12,715,354,551.15
of the parent company
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
Non-controlling interests 532,294,170.78 549,202,101.63
Total shareholder’s equity 14,593,444,403.93 13,264,556,652.78
Total liabilities and shareholder’s equity 56,692,375,310.29 54,155,710,718.91
Legal Representative:Wang Shu Person in charge of accounting:Han Ge Accounting Dept. Leader:Wang Shaoyu
1. BALANCE SHEET OF THE PARENT COMPANY
Unit: RMB
Items Ending balance Beginning balance
Current assets:
Cash at bank and on hand 11,802,294,961.74 12,402,995,087.03
Financial assets at fair value through
profit or loss
Derivative financial assets
Notes receivable 4,326,785,270.23 1,870,384,367.64
Accounts receivable 533,431,999.97 455,070,302.00
Prepayments 597,389,713.18 487,869,713.72
Interests receivable 2,873,285.16 4,208,818.85
Dividends receivable
Other receivables 188,862,951.00 210,089,804.88
Inventories 9,186,877,171.69 8,308,291,029.07
Assets classified as held for sale
Non-current assets due within one year
Other current assets 237,628,505.09 431,675,085.33
Total current assets 26,876,143,858.06 24,170,584,208.52
Non-current assets:
Available-for-sale financial assets 3,888,980.00 12,888,980.00
Held-to-maturity investment
Long-term receivables
Long-term equity investments 1,756,981,902.16 1,700,981,902.16
Investment properties
Fixed assets 16,910,808,981.22 18,125,714,092.15
Construction in progress 7,671,941,238.07 6,196,524,880.06
Construction materials 4,134,133.28 4,134,139.52
Disposal of fixed assets
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
Productive biological assets
Oil and gas assets
Intangible assets 152,908,849.57 155,388,452.53
Development expenditure
Goodwill
Long-term deferred expenses
Deferred tax assets 90,940,739.88 378,696,605.02
Other non-current assets
Total non-current assets 26,591,604,824.18 26,574,329,051.44
Total assets 53,467,748,682.24 50,744,913,259.96
Current Liabilities:
Short-term loans 21,908,769,350.00 17,376,963,500.00
Financial liabilities at fair value
through profit or loss
Advance from customers
Notes payable 3,372,632,631.27 5,768,523,196.16
Accounts payable 5,467,695,605.54 5,939,417,729.46
Advance from customers 3,044,873,924.58 3,671,944,099.35
Employee benefits payable 42,463,682.22 22,386,057.59
Current tax liabilities 4,185,733.81 28,902,954.65
Interests payable 62,238,801.13 70,109,821.13
Dividends payable
Other payables 288,583,226.21 289,522,026.53
Liabilities held for sale
Non-current liabilities due within one
2,071,159,300.00 437,669,535.66
year
Other current liabilities
Total current liabilities 36,262,602,254.76 33,605,438,920.53
Non-current liabilities:
Long-term loans 2,127,071,927.87 3,448,931,721.62
Bonds payable 1,498,275,260.78 1,494,825,782.32
Including: Preferred stock
Perpetual bond
Long-term payables
Long-term employee benefits payable
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
Special accounts payable
Estimated liabilities
Deferred income 388,878,500.00 410,399,000.00
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 4,014,225,688.65 5,354,156,503.94
Total liabilities 40,276,827,943.41 38,959,595,424.47
Shareholders’ equity:
Share capital 3,136,000,000.00 3,136,000,000.00
Other equity instruments
Including: Preferred stock
Perpetual bond
Capital reserves 8,694,693,859.93 8,694,693,859.93
Less: treasury shares
Other comprehensive income
Special reserves 8,994,342.20 230,735.89
Surplus reserves 961,105,529.85 961,105,529.85
Undistributed profits 390,127,006.85 -1,006,712,290.18
Total shareholder’s equity 13,190,920,738.83 11,785,317,835.49
Total liabilities and shareholder’s equity 53,467,748,682.24 50,744,913,259.96
3. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME OF THE CURRENT
REPORTING PERIOD
Unit: RMB
Items The Current Period The Previous Period
1. Total operating income 9,640,672,901.66 7,352,413,667.74
Including: Operating income 9,640,672,901.66 7,352,413,667.74
Interest income
Premium earned
Income from handling
charges and commission
2. Total operating cost 8,643,165,739.54 6,782,057,523.51
Including: Operating cost 8,007,060,516.58 6,125,972,410.63
Interest cost
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
Expenditure for handling
charges and commission
Surrender value
Net expenditure for
compensation
Net provision for insurance
contract appropriated
Bonus payment for policy
Reinsurance premium
Taxes and surcharges 32,838,776.98 27,088,709.48
Selling and distribution
268,471,511.83 219,452,625.67
expenses
General and administrative
185,027,450.47 200,432,767.91
expenses
Financial expenses 151,946,049.78 209,946,899.42
Asset impairment loss -2,178,566.10 -835,889.60
Add: Gains from the change in fair
value ("-" for loss)
Income on investment ("-" for
569,498.63
loss)
Including: Income from
associates and joint ventures
Exchange Income ("-" for
loss)
Other Income
3. Operating profit ("-" for loss) 997,507,162.12 570,925,642.86
Add: Non-operating income 13,070,744.52 15,234,307.48
Including: Gain on disposal of
476,301.60 2,475,142.83
non-current assets
Less: Non-operating expenses 3,888,870.11
Including: Loss on disposal of
3,888,870.11
non-current assets
4. Total profit ("-" for loss) 1,006,689,036.53 586,159,950.34
Less: Income tax expenses 194,797,871.77 174,795,525.68
5. Net Profit ("-" for loss) 811,891,164.76 411,364,424.66
Attributable to: Owners of parent
810,662,349.27 392,077,397.20
company
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
Non-controlling shareholders 1,228,815.49 19,287,027.46
6. Other comprehensive income after
tax
Other comprehensive income
attributable to owners of parent
company after tax
1) Other comprehensive income
unable to be reclassified into profit and
loss afterwards
(1) .Change of net
liabilities or net assets through
re-measuring defined benefit plan
(2) .Share of other
comprehensive income of investee not
to be classified into profit or loss
afterwards under equity method
2) Other comprehensive income to
be reclassified into profit and loss
afterwards
(1) .Share of other
comprehensive income of investee to be
classified into profit or loss afterwards
under equity method
(2). Gains and losses on
re-measuring available-for-sale
financial assets
(3) .Gains and losses
resulting from reclassification of held-to
maturity investment to financial assets
held-for sale
(4) .Effective portion of
gains or losses from cash flow hedging
(5) .Gains and losses resulti
ng from translating the foreign currency
financial statements
(6) .Others
Other comprehensive income
attributable to non-controlling
shareholders after tax
7. Total comprehensive income 811,891,164.76 411,364,424.66
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
Total comprehensive income
attributable to owners of parent 810,662,349.27 392,077,397.20
company
Total comprehensive income
attributable to non-controlling 1,228,815.49 19,287,027.46
shareholders
8. Earnings per share:
1) Basic earnings per share 0.259 0.125
2) Diluted earnings per share 0.259 0.125
The current business combination under common control, the net profits of the combined party before achieved: Yuan, net profit of
previous period of the combined party realized: Yuan.
Legal Representative: Wang Shu Person in charge of accounting: Han Ge Accounting Dept. Leader: Wang Shaoyu
4. INCOME STATEMENT OF THE PARENT COMPANY DURING THE CURRENT REPORTING
PERIOD
Unit: RMB
Items The Current Period The Previous Period
1. Turnover 9,431,303,159.07 7,541,752,295.18
Less: Operating cost 7,944,761,205.42 6,506,196,116.23
Taxes and surcharges 24,005,387.31 24,375,185.52
Selling and distribution
182,143,490.01 155,519,980.97
expenses
General and administrative
173,001,531.44 185,740,284.28
expenses
Financial expenses 136,168,153.13 195,326,877.96
Asset impairment loss -2,177,456.19 -368,932.75
Add: Gains from the change in fair
value ("-" for loss)
Income on investment ("-" for
569,498.63
loss)
Including: Income from
associates and joint ventures
Other Income
2. Operating profit ("-" for loss) 973,400,847.95 475,532,281.60
Add: Non-operating income 12,947,899.28 15,117,388.95
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
Including: Gain on disposal of
476,301.60 2,406,422.22
non-current assets
Less: Non-operating expenses 3,888,870.11
Including: Loss on disposal of
3,888,870.11
non-current assets
3. Total profit ("-" for loss) 982,459,877.12 490,649,670.55
Less: Income tax expenses 187,447,328.04 170,060,434.17
4. Net Profit ("-" for loss) 795,012,549.08 320,589,236.38
5. Other comprehensive income after
tax
1) Other comprehensive income
unable to be reclassified into profit and
loss afterwards
(1) .Change of net
liabilities or net assets through
re-measuring defined benefit plan
(2) .Share of other
comprehensive income of investee not
to be classified into profit or loss
afterwards under equity method
2) Other comprehensive income to
be reclassified into profit and loss
afterwards
(1) .Share of other
comprehensive income of investee to be
classified into profit or loss afterwards
under equity method
(2) Gains and losses on
re-measuring available-for-sale
financial assets
(3) .Gains and losses
resulting from reclassification of held-to
maturity investment to financial assets
held-for sale
(4) .Effective portion of
gains or losses from cash flow hedging
(5) .Gains and losses resulti
ng from translating the foreign currency
financial statements
20
Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
(6) .Others
6. Total comprehensive income 795,012,549.08 320,589,236.38
7. Earnings per share:
1) Basic earnings per share
2) Diluted earnings per share
5. CONSOLIDATED STATEMENT OF INCOME STATEMENT FROM THE BEGINNING OF THE
YEAR TO THE END OF THE CURRENT REPORTING PERIOD
Unit: RMB
Items The Current Period The Previous Period
1. Total operating income 30,377,159,805.40 19,981,998,237.09
Including: Operating income 30,377,159,805.40 19,981,998,237.09
Interest income
Premium earned
Income from handling
charges and commission
2. Total operating cost 28,752,295,499.49 19,089,375,328.26
Including: Operating cost 26,697,726,482.69 17,040,154,712.67
Interest cost
Expenditure for handling
charges and commission
Surrender value
Net expenditure for
compensation
Net provision for insurance
contract appropriated
Bonus payment for policy
Reinsurance premium
Taxes and surcharges 166,595,508.05 53,421,604.24
Selling and distribution
856,104,219.26 649,513,688.81
expenses
General and administrative
543,978,855.55 552,387,486.39
expenses
Financial expenses 533,459,454.58 796,614,724.61
Asset impairment loss -45,569,020.64 -2,716,888.46
Add: Gains from the change in fair
21
Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
value ("-" for loss)
Income on investment ("-" for
3,294,593.14 569,498.63
loss)
Including: Income from
associates and joint ventures
Exchange Income ("-" for
loss)
Other Income
3.Operating profit ("-" for loss) 1,628,158,899.05 893,192,407.46
Add: Non-operating income 34,085,233.10 39,430,977.03
Including: Gain on disposal of
3,491,595.60 4,595,601.72
non-current assets
Less: Non-operating expenses 8,482,290.41 105,474.99
Including: Loss on disposal of
8,482,290.41 105,474.99
non-current assets
4.Total profit ("-" for loss) 1,653,761,841.74 932,517,909.50
Less: Income tax expenses 311,902,932.93 314,857,746.97
5.Net Profit ("-" for loss) 1,341,858,908.81 617,660,162.53
Attributable to: Owners of parent
1,334,298,002.84 574,615,573.52
company
Non-controlling shareholders 7,560,905.97 43,044,589.01
6. Other comprehensive income after
tax
Other comprehensive income
attributable to owners of parent
company after tax
1) Other comprehensive income
unable to be reclassified into profit and
loss afterwards
(1) .Change of net
liabilities or net assets through
re-measuring defined benefit plan
(2) .Share of other
comprehensive income of investee not
to be classified into profit or loss
afterwards under equity method
2) Other comprehensive income to
be reclassified into profit and loss
22
Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
afterwards
(1) .Share of other
comprehensive income of investee to be
classified into profit or loss afterwards
under equity method
(2). Gains and losses on
re-measuring available-for-sale
financial assets
(3) .Gains and losses
resulting from reclassification of held-to
maturity investment to financial assets
held-for sale
(4) .Effective portion of
gains or losses from cash flow hedging
(5) .Gains and losses resulti
ng from translating the foreign currency
financial statements
(6) .Others
Other comprehensive income
attributable to non-controlling
shareholders after tax
7. Total comprehensive income 1,341,858,908.81 617,660,162.53
Total comprehensive income
attributable to owners of parent 1,334,298,002.84 574,615,573.52
company
Total comprehensive income
attributable to non-controlling 7,560,905.97 43,044,589.01
shareholders
8. Earnings per share:
1) Basic earnings per share 0.425 0.183
2) Diluted earnings per share 0.425 0.183
The current business combination under common control, the net profits of the combined party before achieved: Yuan, net profit of
previous period of the combined party realized: Yuan.
6. STATEMENT OF COMPREHENSIVE INCOME OF THE PARENT COMPANY FROM THE
BEGGING OF THE YEAR TO THE END OF THE CURRENT REPORTING PERIOD
Unit: RMB
Items The Current Period The Previous Period
23
Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
1.Turnover 30,628,819,938.27 20,727,140,742.37
Less: Operating cost 27,427,737,279.74 18,236,082,900.44
Taxes and surcharges 140,788,803.31 39,015,159.45
Selling and distribution
555,662,676.40 507,779,490.30
expenses
General and administrative
509,371,807.46 507,214,377.27
expenses
Financial expenses 486,344,038.55 750,350,717.43
Asset impairment loss -45,567,910.73 -2,249,931.61
Add: Gains from the change in fair
value ("-" for loss)
Income on investment ("-" for
105,369,227.90 14,282,827.08
loss)
Including: Income from
associates and joint ventures
Other Income
2.Operating profit ("-" for loss) 1,659,852,471.44 703,230,856.17
Add: Non-operating income 33,224,981.14 38,679,929.93
Including: Gain on disposal of
3,491,595.60 4,456,927.98
non-current assets
Less: Non-operating expenses 8,482,290.41 105,474.99
Including: Loss on disposal of
8,482,290.41 105,474.99
non-current assets
3.Total profit ("-" for loss) 1,684,595,162.17 741,805,311.11
Less: Income tax expenses 287,755,865.14 308,151,093.24
4.Net Profit ("-" for loss) 1,396,839,297.03 433,654,217.87
5.Other comprehensive income after tax
1) Other comprehensive income
unable to be reclassified into profit and
loss afterwards
(1) .Change of net
liabilities or net assets through
re-measuring defined benefit plan
(2) .Share of other
comprehensive income of investee not
to be classified into profit or loss
afterwards under equity method
24
Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
2) Other comprehensive income to
be reclassified into profit and loss
afterwards
(1) .Share of other
comprehensive income of investee to be
classified into profit or loss afterwards
under equity method
(2) Gains and losses on
re-measuring available-for-sale
financial assets
(3) .Gains and losses
resulting from reclassification of held-to
maturity investment to financial assets
held-for sale
(4) .Effective portion of
gains or losses from cash flow hedging
(5) .Gains and losses resulti
ng from translating the foreign currency
financial statements
(6) .Others
6.Total comprehensive income 1,396,839,297.03 433,654,217.87
7.Earnings per share:
3) Basic earnings per share
4) Diluted earnings per share
7. CONSOLIDATED STATEMENT OF CASH FLOWS FROM THE BEGGINING OF THE YEAR TO
THE END OF THE CURRENT PERIOD
Unit: RMB
Items The Current Period The Previous Period
1.Cash flow from operating activities:
Cash received from sale of goods
21,053,946,910.03 16,580,702,769.37
or rendering of services
Net increase of customers’ deposit
and interbank deposit
Net increase of loan from central
bank
Net increase of loans from other
financial institutions
25
Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
Cash received for premium of
original insurance contract
Net cash received for reinsurance
business
Net increase of deposit and
investment of the insured
Net increase of Financial assets at
fair value through profit or loss
Cash from receiving interest,
handling charge and commission
Net increase of loans from other
financial institutions
Net increase of fund for buy-back
business
Tax rebate received 247,722,320.84 353,037,007.15
Other cash received relating to
93,241,794.79 84,677,742.77
operating activities
Subtotal of cash inflow received from
21,394,911,025.66 17,018,417,519.29
operation activities
Cash paid for goods and services 23,277,409,481.43 11,511,671,889.04
Net increase of customer’s loan
and advances
Net increase of deposit in central
bank and interbank deposit
Cash for payment of compensation
for original insurance contract
Cash for payment of interest,
handling charge and commission
Cash for payment of policy bonus
Cash paid to and on behalf of
1,372,504,441.92 1,247,371,996.56
employees
Cash paid for all types of taxes 443,361,163.06 273,035,353.99
Other cash paid relating to
407,069,210.36 339,714,850.94
operating activities
Subtotal of cash outflow received from
25,500,344,296.77 13,371,794,090.53
operation activities
Net cash flows generated from
-4,105,433,271.11 3,646,623,428.76
operating activities
26
Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
2. Cash flows from investing activities:
Cash received from return on
424,000,000.00 300,000,000.00
investments
Cash received from distribution of
3,294,593.14 569,498.63
dividends or profit
Net cash received from disposal of
fixed assets, intangible assets and other 4,296,555.00
long-term assets
Net cash received from disposal of
subsidiary and other operating units
Other cash paid relating to
investing activities
Subtotal of cash inflow received from
427,294,593.14 304,866,053.63
investing activities
Cash paid for acquisition of fixed
assets, intangible assets and other 947,149,945.24 1,016,048,866.75
long-term assets
Cash paid for acquisition of
380,000,000.00 572,000,000.00
investments
Net increase of mortgage loan
Net cash received from subsidiary
and other operating unit
Other cash paid relating to
investing activities
Subtotal of cash outflows from
1,327,149,945.24 1,588,048,866.75
investing activities
The net cash flow generated by
-899,855,352.10 -1,283,182,813.12
investment activities
3. Cash flows from financing activities:
Proceeds from investment
Including: Proceeds from
investment of non-controlling
shareholders of subsidiary
Proceeds from borrowings 19,545,352,799.54 12,925,514,125.63
Cash received from bond issuance
Other proceeds relating to
210,000,000.00
financing activities
Subtotal cash inflow received from 19,545,352,799.54 13,135,514,125.63
27
Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
financing activities
Cash repayments of borrowings 14,264,079,011.29 11,692,619,787.29
Cash payments for distribution of
895,675,683.07 737,477,171.35
dividends, profit or interest expenses
Including: Cash paid to
non-controlling shareholders as
dividend and profit by subsidiaries
Other cash payments relating to
financing activities
Subtotal of cash outflows from
15,159,754,694.36 12,430,096,958.64
financing activities
The net cash flow generated by
4,385,598,105.18 705,417,166.99
financing activities
4. Effect of foreign exchange rate
-92,924,890.05 39,845,240.81
changes on cash and cash equivalents
5. Net increase in cash and cash
-712,615,408.08 3,108,703,023.44
equivalents
Add: Cash and cash equivalents at
12,273,574,488.67 4,612,782,772.98
the beginning of the period
6. Cash and cash equivalents at the
11,560,959,080.59 7,721,485,796.42
ending of the period
8. CASH FLOW STATEMENT OF THE PARENT COMPANY FROM THE BEGINNING OF THE
YEAR TO THE END OF THE CURRENT PERIOD
Unit: RMB
Items The Current Period The Previous Period
1.Cash flow from operating activities:
Cash received from sale of goods
20,467,726,400.98 17,325,991,437.46
or rendering of services
Tax rebate received 172,271,080.18 343,392,974.16
Other cash received relating to
87,160,373.20 76,149,013.82
operating activities
Subtotal of cash inflow received from
20,727,157,854.36 17,745,533,425.44
operation activities
Cash paid for goods and services 23,052,858,946.77 12,379,218,031.50
Cash paid to and on behalf of
1,304,133,489.37 1,181,632,960.47
employees
28
Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
Cash paid for all types of taxes 363,002,738.78 146,872,420.32
Other cash paid relating to
344,550,652.82 295,590,912.91
operating activities
Subtotal of cash outflow received from
25,064,545,827.74 14,003,314,325.20
operation activities
Net cash flows generated from
-4,337,387,973.38 3,742,219,100.24
operating activities
2. Cash flows from investing activities:
Cash received from return on
424,000,000.00 300,000,000.00
investments
Cash received from distribution of
105,369,227.90 569,498.63
dividends or profit
Net cash received from disposal of
fixed assets, intangible assets and other 4,107,574.00
long-term assets
Net cash received from disposal of
subsidiary and other operating units
Other cash paid relating to
investing activities
Subtotal of cash inflow received from
529,369,227.90 304,677,072.63
investing activities
Cash paid for acquisition of fixed
assets, intangible assets and other 930,544,967.24 996,101,897.66
long-term assets
Cash paid for acquisition of
380,000,000.00 572,000,000.00
investments
Net cash received from subsidiary
and other operating unit
Other cash paid relating to
investing activities
Subtotal of cash outflows from
1,310,544,967.24 1,568,101,897.66
investing activities
The net cash flow generated by
-781,175,739.34 -1,263,424,825.03
investment activities
3. Cash flows from financing activities:
Proceeds from investment
Proceeds from borrowings 18,182,352,799.54 11,862,514,125.63
Cash received from bond issuance
29
Bengang Steel Plates Co., Ltd. Third Quarter Report 2017
Other proceeds relating to
210,000,000.00
financing activities
Subtotal cash inflow received from
18,182,352,799.54 12,072,514,125.63
financing activities
Cash repayments of borrowings 13,159,153,564.72 10,841,064,067.53
Cash payments for distribution of
701,660,667.03 691,202,152.71
dividends, profit or interest expenses
Other cash payments relating to
financing activities
Subtotal of cash outflows from
13,860,814,231.75 11,532,266,220.24
financing activities
The net cash flow generated by
4,321,538,567.79 540,247,905.39
financing activities
4. Effect of foreign exchange rate
-92,971,403.22 39,834,229.35
changes on cash and cash equivalents
5. Net increase in cash and cash
-889,996,548.15 3,058,876,409.95
equivalents
Add: Cash and cash equivalents at
11,876,536,613.66 4,489,630,951.08
the beginning of the period
6. Cash and cash equivalents at the
10,986,540,065.51 7,548,507,361.03
ending of the period
II. Audit report
Whether the third quarter report is audited
□ Yes √ No
The third quarter report is not audited.
30
