Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
Bengang Steel Plates Co., Ltd.
Third Quarter Report 2018
October 2018
1
Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
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, Gao Lie, the principal in charge of the
accounting, and Zhao Zhonghua, 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 2018
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） 59,738,861,908.85 62,998,143,513.02 -5.17%
Net assets attributable to
shareholders of the listed company 18,931,762,047.50 14,315,588,729.00 32.25%
（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） 13,313,390,671.44 38.10% 36,754,638,048.58 20.99%
Net profit attributable to the
shareholders of the listed company 68,230,224.01 -91.58% 825,182,211.60 -38.16%
（RMB）
Net profit after deducting of
non-recurring gain/loss attributable
51,745,834.17 -93.56% 776,668,790.16 -40.83%
to the shareholders of listed
company（RMB）
Net Cash flow generated by
-- -- 6,933,467,399.98 269.00%
business operation（RMB）
Basic earnings per
0.02 -92.31% 0.21 -51.16%
share(RMB/Share)
Diluted gains per
0.02 -92.31% 0.21 -51.16%
share(RMB/Share)
Weighted average net assets yield
0.36% -5.82% 4.96% -5.01%
(%)
Items and amount of non-recurring profit and loss
√ Applicable □ Not applicable
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
Unit: RMB
From the beginning of the
Items year to the end of the current Notes
period
Profit or loss from disposal of non-current assets (including the
-848,283.58
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 63,413,797.03
national policy and enjoyed constantly in certain quota or quantity
according to a certain standard）
Profit or loss from debt restructuring 945,892.23
Other non-operating revenue and expenditure other than above
1,347,426.82
items
Less: Impact of income tax 16,214,708.13
Impact of minority interests (after tax) 130,702.93
Total 48,513,421.44 --
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 preferred
Total number of common shareholders whose voting
shareholders at the end of the 62,373 rights has been restored at end 0
reporting period of the reporting period （if
any）
Shareholding by Top 10 shareholders
Name of the Nature of Proportion of Quantity of Amount of Number of share pledged/frozen
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
shareholder shareholder shares held shares restricted shares
State of share Quantity
held
Benxi Steel & Pledged 1,523,095,133
State-owned legal
Iron (Group) Co., 60.78% 2,355,409,263
person Frozen 45,000,000
Ltd.
Liaoning
Provincial
State-owned legal
Transportation 4.77% 184,842,883 184,842,883
person
Investment Group
Co., Ltd.
CCB Principal
Asset
Management –
ICBC – CR Trust
Others 4.77% 184,842,883 184,842,883
– CR Trust Xing
Sheng No. 5
Collective Fund
Trust Plan
Bei Xin Rui Feng
Fund – China
Merchants Bank
– Bei Xin Rui
Others 4.77% 184,842,883 184,842,883
Feng Fund Feng
Qing No. 229
Asset
Management Plan
China Life AMP
Fund– ICBC –
China Life AMP
– Hua Xin Trust
Targeted Others 4.77% 184,842,883 184,842,883
Additional Shares
Issuance No. 10
Asset
Management Plan
VANGUARD
EMERGING
Overseas legal
MARKETS 0.21% 8,157,311
person
STOCK INDEX
FUND
Domestic natural
Chen Jinhong 0.19% 7,264,500
person
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
Domestic natural
Lyu Ruijun 0.13% 5,188,800
person
VANGUARD
TOTAL
Overseas legal
INTERNATION 0.12% 4,606,141
person
AL STOCK
INDEX FUND
Agricultural bank
of China - China
Securities 500
Others 0.10% 4,060,900
Trading Open
Index Securities
Investment Fund
Shareholding of top 10 shareholders of unrestricted shares
Category of shares
Number of non-restricted common shares held at the
Name of the shareholder Category of
period-end Quantity
shares
Common shares
Benxi Steel & Iron (Group) Co., Ltd. 2,355,409,263 2,355,409,263
in RMB
Foreign shares
VANGUARD EMERGING placed in
8,157,311 8,157,311
MARKETS STOCK INDEX FUND domestic
exchange
Common shares
Chen Jinhong 7,264,500 7,264,500
in RMB
Foreign shares
placed in
Lyu Ruijun 5,188,800 5,188,800
domestic
exchange
Foreign shares
VANGUARD TOTAL
placed in
INTERNATIONAL STOCK INDEX 4,606,141 4,606,141
domestic
FUND
exchange
Agricultural bank of China - China
Common shares
Securities 500 Trading Open Index 4,060,900 4,060,900
in RMB
Securities Investment Fund
Foreign shares
placed in
Yu Xiaofan 4,002,707 4,002,707
domestic
exchange
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
Foreign shares
placed in
Xu Hekun 3,738,800 3,738,800
domestic
exchange
Foreign shares
Haitong International Securities placed in
3,211,109 3,211,109
Company Limited-Account Client domestic
exchange
Common shares
Sui Yu 3,203,700 3,203,700
in RMB
Related-parties or acting-in-concert
It is unknown to the Company whether there is any related connection or action-in-concert
parties among the above-mentioned
parties among the top 10 un-restricted shareholders.
shareholders
Benxi Steel & Iron (Group) Co., Ltd. holds 2,105,409,263 shares of the company through an
Shareholders among the top 10
ordinary securities account, and holds 250,000,000 shares through the investor's credit
participating in securities margin
securities account, therefore, it holds a total of 2,355,409,263 shares. Sui Yu holds 3,203,700
trading (if any)
shares of the company through an investor's credit securities account.
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 2018
III. Important Events
I. Major Changes in Financial Data and Financial Index And Reason
√ Applicable □ Not applicable
Items and reasons for the changes of more than 30% compared with the beginning of the year in the consolidated statement
Increase /
1. Statement of Financial Position Decrease Reasons
Notes receivable and Accounts Due to the increase of payment of notes receivable in
-32%
receivable the current period
Due to the reduction of short-term banking products at
Other current assets -73%
the end of this period
Due to the decrease of VAT payable at the end of this
Tax payable -31%
period
Non-current liabilities due within Due to the decrease in long-term loans due within one
-61%
one year year
Due to the increase of accrued output VAT in the
Other current liabilities 142%
current period
173% Due to the increase of long-term loans in the current
Long-term loans
period
Due to the premium of targeted additional shares
Capital reserves 35%
issuance
Due to the decrease of payment of safety production
Special reserves 3584%
cost
Undistributed profits 57% Due to the increase of net profit
Items and reasons for the changes of more than 30% compared to January to September 2017 in the consolidated statement
Increase /
2. Statement of comprehensive income Reasons
Decrease
Taxes and surcharges 31% Due to the increase of VAT payable and surcharges
Financial expenses 224% Due to the change of net exchange loss
Due to the increase of the price of products and the
Asset impairment loss -39%
decrease of reversal of stock provision
Due to the increase of deferred income of government
Other income 176%
subsidies
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
Asset disposal income -68% Due to the decrease of disposal income on fixed assets
Non-operating income -70% Due to the decrease of gains on debt restructuring
Non-operating expenses -77% Due to the decrease of disposal loss on fixed assets
Income tax expenses -95% Due to the decrease of deferred income tax
Net profit attribute to owners of the
-38% Due to the increase of exchange loss
company
Profit or loss of non-controlling
-94% Due to the decrease of profit of holding subsidiaries
shareholders
Increase /
3. Statement of cash flows Reasons
Decrease
Due to the increase of VAT and other taxes paid in the
Cash paid for all types of taxes 39%
period
Net cash flows generated from Due to the increase of cash flows from operating
269%
operating activities activities in the period
Cash paid for acquisition of fixed
Due to the increase of payment of acquisition of fixed
assets, intangible assets and other 33%
assets, intangible assets in the period
long-term assets
Cash paid for investment -100% Due to the decrease of purchase of banking products
Due to the increase of cash on repayment of
Cash repayments of borrowings 109%
borrowings
Cash payments for distribution of Due to the increase of cash payments for distribution
36%
dividends, profit or interest of dividends, profit or interest in the period
Net cash flow generated by financing
-223% Due to the increase of repayment of financing
activities
Net increase of cash and cash Due to net cash flows from operating activities
231%
equivalents increased in the period
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
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
management personnel and other related parties.
IV. Forecast towards Operating Performance of 2018
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
V. Investment in Securities
□ Applicable √ Not applicable
There is no investment in securities during the reporting period.
VI. Entrusted Financial Management
□ Applicable √ Not applicable
There is no entrusted financial management in the reporting period.
VII. Investment in Derivatives
□ Applicable √ Not applicable
There is no investment in derivatives during the reporting period.
VIII. Registration form of Activities such as Research, Communication, Interview in this
Reporting Period
□ Applicable √ Not applicable
There is no activity such as research, communication, interview in the reporting period.
IX. 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.
X. Illustrations of Non-Operating Occupation of Funds by the Controlling Shareholder and
Related Parties
□ Applicable √ Not applicable
There is no non-operating occupation of funds by the controlling shareholder and related parties
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
IV. Financial Statements
I. Financial Statements
1. CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Prepared by: Bengang Steel Plates Co., Ltd.
30 September 2018
Unit: RMB
Items Ending balance Beginning balance
Current assets:
Cash at bank and on hand 15,498,765,186.18 17,037,713,410.49
Settlement provisions
Capital lent
Financial assets at fair value through
profit or loss
Derivative financial assets
Notes receivable and accounts
3,130,334,790.84 4,575,031,627.26
receivable
Including: Notes receivable 2,350,933,803.35 3,846,433,700.87
Accounts receivable 779,400,987.49 728,597,926.39
Prepayments 1,406,069,971.25 1,280,689,094.33
Premium receivable
Reinsurance accounts receivable
Receivable deposit for reinsurance
contract
Other receivables 287,146,572.24 308,825,505.84
Redemptory financial assets for sale
Inventories 12,409,729,513.29 11,209,898,096.16
Assets classified as held for sale
Non-current assets due within one
year
Other current assets 216,187,634.74 809,322,127.79
Total current assets 32,948,233,668.54 35,221,479,861.87
Non-current assets:
Loan and advances issued
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
Available-for-sale financial assets 4,088,980.00 3,888,980.00
Held-to-maturity investment
Long-term receivables
Long-term equity investments 2,284,192.80 2,726,009.03
Investment properties
Fixed assets 22,182,758,920.58 23,852,067,166.10
Construction in progress 3,090,822,270.04 2,396,143,330.06
Productive biological assets
Oil and gas assets
Intangible assets 279,704,283.74 253,884,881.48
Development expenditure
Goodwill
Long-term deferred expenses
Deferred tax assets 193,233,744.15 200,618,461.36
Other non-current assets 1,037,735,849.00 1,067,334,823.12
Total non-current assets 26,790,628,240.31 27,776,663,651.15
Total assets 59,738,861,908.85 62,998,143,513.02
Current Liabilities:
Short-term loans 15,927,954,800.00 21,999,103,900.00
Loan from central bank
Absorbed deposit and interbank
deposit
Loan from other financial institutions
Financial liabilities at fair value
through profit or loss
Derivative financial liabilities
Notes payable and accounts payable 11,072,129,300.90 15,392,258,341.04
Advance from customers 4,065,912,701.96 3,308,567,598.05
Financial assets sold for repurchase
Handling charges and commission
payable
Employee benefits payable 47,185,107.04 43,722,537.58
Current tax liabilities 60,186,024.80 87,807,128.50
Other payables 579,206,918.70 661,129,220.33
Reinsurance accounts payable
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
Provision for insurance contract
Receipt from vicariously traded
securities
Receipt from vicariously underwriting
securities
Liabilities held for sale
Non-current liabilities due within one
1,469,056,325.69 3,811,540,590.84
year
Other current liabilities 67,740,181.61 27,979,093.21
Total current liabilities 33,289,371,360.70 45,332,108,409.55
Non-current liabilities:
Long-term loans 6,672,883,171.25 2,444,185,630.28
Bonds payable
Including: Preferred stock
Perpetual bond
Long-term payables
Long-term employee benefits payable
Estimated liabilities
Deferred income 310,345,502.97 372,785,000.00
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 6,983,228,674.22 2,816,970,630.28
Total liabilities 40,272,600,034.92 48,149,079,039.83
Shareholders’ equity:
Share capital 3,875,371,532.00 3,136,000,000.00
Other equity instruments
Including: Preferred stock
Perpetual bond
Capital reserves 12,343,209,847.29 9,114,845,542.05
Less: treasury shares
Other comprehensive income
Special reserves 17,498,893.01 475,046.75
Surplus reserves 961,105,529.85 961,105,529.85
General risk reserve
Undistributed profits 1,734,576,245.35 1,103,162,610.35
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
Total equity attributable to equity holders
18,931,762,047.50 14,315,588,729.00
of the parent company
Non-controlling interests 534,499,826.43 533,475,744.19
Total shareholder’s equity 19,466,261,873.93 14,849,064,473.19
Total liabilities and shareholder’s equity 59,738,861,908.85 62,998,143,513.02
Legal Representative: Wang Shu Person in charge of accounting: Gao Lie Accounting Dept. Leader: Zhao Zhonghua
2. BALANCE SHEET OF THE PARENT COMPANY
Unit: RMB
Items Ending balance Beginning balance
Current assets:
Cash at bank and on hand 14,801,259,079.79 16,717,913,081.42
Financial assets at fair value through
profit or loss
Derivative financial assets
Notes receivable and accounts
3,274,255,601.50 3,997,543,586.41
receivable
Including: Notes receivable 2,797,038,562.18 3,515,361,992.96
Accounts receivable 477,217,039.32 482,181,593.45
Prepayments 1,406,069,971.25 1,280,354,579.87
Other receivables 384,513,943.10 395,240,485.68
Inventories 10,538,876,842.62 9,228,860,225.75
Assets classified as held for sale
Non-current assets due within one year
Other current assets 184,195,100.99 682,211,823.73
Total current assets 30,589,170,539.25 32,302,123,782.86
Non-current assets:
Available-for-sale financial assets 3,888,980.00 3,888,980.00
Held-to-maturity investment
Long-term receivables
Long-term equity investments 2,016,281,902.16 1,756,981,902.16
Investment properties
Fixed assets 20,212,485,741.91 21,621,369,452.27
Construction in progress 3,080,337,507.28 2,387,667,263.65
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
Productive biological assets
Oil and gas assets
Intangible assets 149,602,712.28 152,082,315.24
Development expenditure
Goodwill
Long-term deferred expenses
Deferred tax assets 92,805,204.12 100,189,921.33
Other non-current assets 1,037,735,849.00 1,037,735,849.00
Total non-current assets 26,593,137,896.75 27,059,915,683.65
Total assets 57,182,308,436.00 59,362,039,466.51
Current Liabilities:
Short-term loans 14,505,914,800.00 20,499,694,500.00
Financial liabilities at fair value
through profit or loss
Derivative financial liabilities
Notes payable and accounts payable 11,865,206,245.70 15,051,433,056.31
Advance from customers 3,824,220,027.48 3,217,423,443.14
Employee benefits payable 46,779,359.79 42,380,713.02
Current tax liabilities 50,133,972.30 66,903,531.67
Other payables 383,345,713.12 422,286,065.92
Liabilities held for sale
Non-current liabilities due within one
1,469,056,325.69 3,811,540,590.84
year
Other current liabilities 67,740,181.61 27,979,093.21
Total current liabilities 32,212,396,625.69 43,139,640,994.11
Non-current liabilities:
Long-term loans 6,672,883,171.25 2,444,185,630.28
Bonds payable
Including: Preferred stock
Perpetual bond
Long-term payables
Long-term employee benefits payable
Estimated liabilities
Deferred income 310,345,502.97 372,785,000.00
Deferred tax liabilities
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
Other non-current liabilities
Total non-current liabilities 6,983,228,674.22 2,816,970,630.28
Total liabilities 39,195,625,299.91 45,956,611,624.39
Shareholders’ equity:
Share capital 3,875,371,532.00 3,136,000,000.00
Other equity instruments
Including: Preferred stock
Perpetual bond
Capital reserves 11,923,058,165.17 8,694,693,859.93
Less: treasury shares
Other comprehensive income
Special reserves 13,707,699.40 276,727.96
Surplus reserves 961,105,529.85 961,105,529.85
Undistributed profits 1,213,440,209.67 613,351,724.38
Total shareholder’s equity 17,986,683,136.09 13,405,427,842.12
Total liabilities and shareholder’s equity 57,182,308,436.00 59,362,039,466.51
3. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME OF THE CURRENT
REPORTING PERIOD
Unit: RMB
Items The Current Period The Previous Period
1. Total operating income 13,313,390,671.44 9,640,672,901.66
Including: Operating income 13,313,390,671.44 9,640,672,901.66
Interest income
Premium earned
Income from handling
charges and commission
2. Total operating cost 13,262,549,953.80 8,643,165,739.54
Including: Operating cost 11,807,011,528.70 8,007,060,516.58
Interest cost
Expenditure for handling
charges and commission
Surrender value
Net expenditure for
compensation
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
Net provision for insurance
contract appropriated
Bonus payment for policy
Reinsurance premium
Taxes and surcharges 65,070,725.45 32,838,776.98
Selling and distribution
277,192,418.87 268,471,511.83
expenses
General and administrative
194,084,503.86 183,859,058.32
expenses
Research and development
744,560.38 1,168,392.15
expenses
Financial expenses 925,267,736.70 151,946,049.78
Including: Interest
341,799,842.63 352,335,836.37
expenses
Interest income 47,196,277.02 38,214,461.38
Asset impairment loss -6,821,520.16 -2,178,566.10
Add: Other income 22,139,558.33 7,946,400.00
Income on investment ("-" for
loss)
Including: Income from
associates and joint ventures
Gains from the
change in fair value ("-" for loss)
Exchange Income ("-" for loss)
Asset disposal gains ("-" for
284,086.70 476,301.60
loss)
3. Operating profit ("-" for loss) 73,264,362.67 1,005,929,863.72
Add: Non-operating income 160,456.93 4,648,042.92
Less: Non-operating expenses 581,084.33 3,888,870.11
4. Total profit ("-" for loss) 72,843,735.27 1,006,689,036.53
Less: Income tax expenses 5,182,120.12 194,797,871.77
5. Net Profit ("-" for loss) 67,661,615.15 811,891,164.76
Net profit from continuing
operation ("-" for loss)
Net profit from discontinued
operation ("-" for loss)
Attributable to: Owners of parent 68,230,224.01 810,662,349.27
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
company
Non-controlling shareholders -568,608.86 1,228,815.49
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 resulting from translati
ng the foreign currency
financial statements
(6) Others
Other comprehensive income
attributable to non-controlling
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
shareholders after tax
7. Total comprehensive income 67,661,615.15 811,891,164.76
Total comprehensive income
attributable to owners of parent 68,230,224.01 810,662,349.27
company
Total comprehensive income
attributable to non-controlling -568,608.86 1,228,815.49
shareholders
8. Earnings per share:
1) Basic earnings per share 0.02 0.26
2) Diluted earnings per share 0.02 0.26
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: Gao Lie Accounting Dept. Leader: Zhao Zhonghua
4. INCOME STATEMENT OF THE PARENT COMPANY DURING THE CURRENT REPORTING
PERIOD
Unit: RMB
Items The Current Period The Previous Period
1. Operating income 12,985,694,384.88 9,431,303,159.07
Less: Operating cost 11,617,944,541.11 7,944,761,205.42
Taxes and surcharges 57,126,440.52 24,005,387.31
Selling and distribution
175,224,699.33 182,143,490.01
expenses
General and administrative
181,799,889.96 171,833,139.29
expenses
Research and development
744,560.38 1,168,392.15
expense
Financial expenses 912,638,828.57 136,168,153.13
Including: Interest expenses 326,523,217.57 336,060,319.84
Interest income 45,650,825.86 37,359,001.61
Asset impairment loss -6,821,520.16 -2,177,456.19
Add: Other income 22,139,558.33 7,946,400.00
Income on investment
Including: Income from
associates and joint ventures
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
Gains from the
change in fair value ("-" for loss)
Asset disposal gains ("-" for
284,086.70 476,301.60
loss)
2. Operating profit ("-" for loss) 69,460,590.20 981,823,549.55
Add: Non-operating income 125,720.44 4,525,197.68
Less: Non-operating expenses 575,548.65 3,888,870.11
3. Total profit ("-" for loss) 69,010,761.99 982,459,877.12
Less: Income tax expenses 1,705,380.04 187,447,328.04
4. Net Profit ("-" for loss) 67,305,381.95 795,012,549.08
Net profit from continuing
67,305,381.95 795,012,549.08
operation ("-" for loss)
Net profit from discontinued
operation ("-" for loss)
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
20
Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
held-for sale
(4) Effective portion of
gains or losses from cash flow hedging
(5)
Gains and losses resulting from translati
ng the foreign currency
financial statements
(6) Others
6. Total comprehensive income 67,305,381.95 795,012,549.08
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 36,754,638,048.58 30,377,159,805.40
Including: Operating income 36,754,638,048.58 30,377,159,805.40
Interest income
Premium earned
Income from handling
charges and commission
2. Total operating cost 35,980,536,279.10 28,752,295,499.49
Including: Operating cost 32,611,218,949.68 26,697,726,482.69
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 218,378,101.09 166,595,508.05
21
Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
Selling and distribution
791,230,427.82 856,104,219.26
expenses
General and administrative
655,926,928.42 541,175,527.36
expenses
Research and development
3,215,201.91 2,803,328.19
expenses
Financial expenses 1,728,306,153.98 533,459,454.58
Including: Interest
916,801,457.83 783,517,850.44
expenses
Interest income 108,801,680.36 74,986,530.45
Asset impairment loss -27,739,483.80 -45,569,020.64
Add: Other income 63,413,797.03 22,993,400.00
Income on investment ("-" for
3,493,150.68 3,294,593.14
loss)
Including: Income from
associates and joint ventures
Gains from the
change in fair value ("-" for loss)
Exchange Income ("-" for loss)
Asset disposal gains ("-" for
1,109,667.33 3,491,595.60
loss)
6. Operating profit ("-" for loss) 842,118,384.52 1,654,643,894.65
Add: Non-operating income 2,298,854.73 7,600,237.50
Less: Non-operating expenses 1,963,486.59 8,482,290.41
7. Total profit ("-" for loss) 842,453,752.66 1,653,761,841.74
Less: Income tax expenses 16,818,346.16 311,902,932.93
8. Net Profit ("-" for loss) 825,635,406.50 1,341,858,908.81
Net profit from continuing
operation ("-" for loss)
Net profit from discontinued
operation ("-" for loss)
Attributable to: Owners of parent
825,182,211.60 1,334,298,002.84
company
Non-controlling shareholders 453,194.90 7,560,905.97
6. Other comprehensive income after
tax
Other comprehensive income
22
Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
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 resulting from translati
ng the foreign currency
financial statements
(6) Others
Other comprehensive income
attributable to non-controlling
shareholders after tax
7. Total comprehensive income 825,635,406.50 1,341,858,908.81
Total comprehensive income
attributable to owners of parent 825,182,211.60 1,334,298,002.84
company
23
Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
Total comprehensive income
attributable to non-controlling 453,194.90 7,560,905.97
shareholders
8. Earnings per share:
1) Basic earnings per share 0.21 0.43
2) Diluted earnings per share 0.21 0.43
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
1. Operating income 36,668,559,494.02 30,628,819,938.27
Less: Operating cost 33,019,136,503.31 27,427,737,279.74
Taxes and surcharges 192,669,833.48 140,788,803.31
Selling and distribution
440,779,566.79 555,662,676.40
expenses
General and administrative
619,992,907.29 506,568,479.27
expenses
Research and development
3,215,201.91 2,803,328.19
expense
Financial expenses 1,687,162,319.17 486,344,038.55
Including: Interest expenses 870,205,608.54 733,104,694.96
Interest income 103,955,252.77 71,262,161.56
Asset impairment loss -27,739,483.80 -45,567,910.73
Add: Other income 63,413,797.03 22,993,400.00
Income on investment 3,493,150.68 105,369,227.90
Including: Income from
associates and joint ventures
Gains from the
change in fair value ("-" for loss)
Asset disposal gains ("-" for
1,109,667.33 3,491,595.60
loss)
2. Operating profit ("-" for loss) 801,359,260.91 1,686,337,467.04
Add: Non-operating income 1,840,469.10 6,739,985.54
24
Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
Less: Non-operating expenses 1,957,950.91 8,482,290.41
3. Total profit ("-" for loss) 801,241,779.10 1,684,595,162.17
Less: Income tax expenses 7,384,717.21 287,755,865.14
4. Net Profit ("-" for loss) 793,857,061.89 1,396,839,297.03
Net profit from continuing
793,857,061.89 1,396,839,297.03
operation ("-" for loss)
Net profit from discontinued
operation ("-" for loss)
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 resulting from translati
ng the foreign currency
financial statements
25
Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
(6) Others
6. Total comprehensive income 793,857,061.89 1,396,839,297.03
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
26,188,229,365.29 21,053,946,910.03
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
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 284,799,886.80 247,722,320.84
Other cash received relating to
83,617,244.68 93,241,794.79
operating activities
Subtotal of cash inflow received from 26,556,646,496.77 21,394,911,025.66
26
Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
operation activities
Cash paid for goods and services 17,207,337,978.80 23,277,409,481.43
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
1,438,947,941.23 1,372,504,441.92
employees
Cash paid for all types of taxes 618,124,974.18 443,361,163.06
Other cash paid relating to
358,768,202.58 407,069,210.36
operating activities
Subtotal of cash outflow received from
19,623,179,096.79 25,500,344,296.77
operation activities
Net cash flows generated from
6,933,467,399.98 -4,105,433,271.11
operating activities
2. Cash flows from investing activities:
Cash received from return on
500,000,000.00 424,000,000.00
investments
Cash received from distribution of
3,493,150.68 3,294,593.14
dividends or profit
Net cash received from disposal of
fixed assets, intangible assets and other
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
503,493,150.68 427,294,593.14
investing activities
Cash paid for acquisition of fixed
assets, intangible assets and other 1,261,912,086.54 947,149,945.24
long-term assets
Cash paid for acquisition of 380,000,000.00
27
Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
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
1,261,912,086.54 1,327,149,945.24
investing activities
The net cash flow generated by
-758,418,935.86 -899,855,352.10
investment activities
3. Cash flows from financing activities:
Proceeds from investment 3,965,799,988.19
Including: Proceeds from
investment of non-controlling
shareholders of subsidiary
Proceeds from borrowings 21,592,058,293.24 19,545,352,799.54
Cash received from bond issuance
Other proceeds relating to
financing activities
Subtotal cash inflow received from
25,557,858,281.43 19,545,352,799.54
financing activities
Cash repayments of borrowings 29,751,998,311.55 14,264,079,011.29
Cash payments for distribution of
1,220,039,424.07 895,675,683.07
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
30,972,037,735.62 15,159,754,694.36
financing activities
The net cash flow generated by
-5,414,179,454.19 4,385,598,105.18
financing activities
4. Effect of foreign exchange rate
173,516,701.33 -92,924,890.05
changes on cash and cash equivalents
5. Net increase in cash and cash
934,385,711.26 -712,615,408.08
equivalents
Add: Cash and cash equivalents at 12,317,576,778.93 12,273,574,488.67
28
Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
the beginning of the period
6. Cash and cash equivalents at the
13,251,962,490.19 11,560,959,080.59
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
25,652,120,540.51 20,467,726,400.98
or rendering of services
Tax rebate received 119,119,395.04 172,271,080.18
Other cash received relating to
80,682,696.51 87,160,373.20
operating activities
Subtotal of cash inflow received from
25,851,922,632.06 20,727,157,854.36
operation activities
Cash paid for goods and services 17,009,484,822.48 23,052,858,946.77
Cash paid to and on behalf of
1,372,731,925.30 1,304,133,489.37
employees
Cash paid for all types of taxes 528,120,047.39 363,002,738.78
Other cash paid relating to
322,705,026.46 344,550,652.82
operating activities
Subtotal of cash outflow received from
19,233,041,821.63 25,064,545,827.74
operation activities
Net cash flows generated from
6,618,880,810.43 -4,337,387,973.38
operating activities
2. Cash flows from investing activities:
Cash received from return on
500,000,000.00 424,000,000.00
investments
Cash received from distribution of
3,493,150.68 105,369,227.90
dividends or profit
Net cash received from disposal of
fixed assets, intangible assets and other
long-term assets
Net cash received from disposal of
subsidiary and other operating units
Other cash paid relating to
29
Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
investing activities
Subtotal of cash inflow received from
503,493,150.68 529,369,227.90
investing activities
Cash paid for acquisition of fixed
assets, intangible assets and other 1,241,365,059.32 930,544,967.24
long-term assets
Cash paid for acquisition of
259,300,000.00 380,000,000.00
investments
Net cash received from subsidiary
and other operating unit
Other cash paid relating to
investing activities
Subtotal of cash outflows from
1,500,665,059.32 1,310,544,967.24
investing activities
The net cash flow generated by
-997,171,908.64 -781,175,739.34
investment activities
3. Cash flows from financing activities:
Proceeds from investment 3,965,799,988.19
Proceeds from borrowings 20,515,395,400.00 18,182,352,799.54
Cash received from bond issuance
Other proceeds relating to
financing activities
Subtotal cash inflow received from
24,481,195,388.19 18,182,352,799.54
financing activities
Cash repayments of borrowings 28,587,442,043.95 13,159,153,564.72
Cash payments for distribution of
1,176,598,972.79 701,660,667.03
dividends, profit or interest expenses
Other cash payments relating to
financing activities
Subtotal of cash outflows from
29,764,041,016.74 13,860,814,231.75
financing activities
The net cash flow generated by
-5,282,845,628.55 4,321,538,567.79
financing activities
4. Effect of foreign exchange rate
173,504,704.68 -92,971,403.22
changes on cash and cash equivalents
5. Net increase in cash and cash
512,367,977.92 -889,996,548.15
equivalents
Add: Cash and cash equivalents at 12,152,285,550.21 11,876,536,613.66
30
Bengang Steel Plates Co., Ltd. Third Quarter Report 2018
the beginning of the period
6. Cash and cash equivalents at the
12,664,653,528.13 10,986,540,065.51
ending of the period
II. Audit report
Whether the third quarter report is audited
□ Yes √ No
The third quarter report is not audited.
31
