Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
Bengang Steel Plates Co., Ltd.
Third Quarter Report 2019
October 2019
1
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
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.
Gao Lie, Chairman of the Company, Shen Qiang, 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 2019
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 at the end of
At the end of the current
At the end of previous year this reporting period over the
period
previous year
Total assets（RMB） 63,759,364,131.78 59,632,504,915.83 6.92%
Net assets attributable to
shareholders of the listed company 19,439,854,342.60 19,126,258,116.67 1.64%
（RMB）
Increase or decrease From the beginning of Increase or decrease over
This reporting period over the same period this year to the end of the same period of the
of the previous year this reporting period previous year
Operating income（RMB） 14,441,830,940.38 8.48% 38,544,426,107.52 4.87%
Net profit attributable to the
shareholders of the listed company 34,229,631.12 -49.83% 487,439,246.88 -40.93%
（RMB）
Net profit after deducting of non-
recurring gain/loss attributable to
26,305,669.24 -49.16% 479,515,285.00 -38.26%
the shareholders of listed company
（RMB）
Net Cash flow generated by
-- -- 4,055,738,221.28 -41.50%
business operation（RMB）
Basic earnings per
0.01 -50.00% 0.13 -38.10%
share(RMB/Share)
Diluted earnings per
0.01 -50.00% 0.13 -38.10%
share(RMB/Share)
Weighted average net assets yield 0.18% -0.18% 2.53% -2.44%
Items and amount of non-recurring profit and loss
√ Applicable □ Not applicable
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
Unit: Yuan
From the beginning of the year to
Items Notes
the end of the current period
Profit or loss from disposal of non-current assets
(including the write-off part for which assets -55,191,533.14
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
62,516,500.00
operation, meeting the regulation of national policy and
enjoyed constantly in certain quota or quantity
according to a certain standard）
Profit or loss from debt restructuring 50,640.00
Other non-operating revenue and expenditure other than
762,123.88
above items
Less: Impact of income tax 203,190.97
Impact of minority interests (after tax) 10,577.89
Total 7,923,961.88 --
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 rights has
shareholders at the end of the 53,728 0
been restored at end of the reporting
reporting period
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 2019
shareholder shareholder shares held shares restricted shares
State of share Quantity
held
State- Pledged 732,115,333
Benxi Steel & Iron 61.44% 2,381,105,094
owned legal
(Group) Co., Ltd. Frozen 45,000,000
person
Liaoning
Provincial State-
Transportation owned legal 4.77% 184,842,883
Investment Group person
Co., Ltd.
CCB Principal
Asset
Management –
ICBC – CR Trust
Others 4.77% 184,842,883
– CR Trust Xing
Sheng No. 5
Collective Fund
Trust Plan
Bei Xin Rui Feng
Fund – China
Merchants Bank –
Bei Xin Rui Feng Others 4.77% 184,842,883
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
Additional Shares
Issuance No. 10
Asset
Management Plan
Domestic
Liang Zhongqing natural 0.71% 27,623,365
person
Domestic
Liu Qiuying natural 0.34% 13,274,400
person
VANGUARD Overseas
0.21% 8,157,311
EMERGING legal person
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
MARKETS
STOCK INDEX
FUND
Domestic
Chen Jinhong natural 0.18% 6,876,375
person
Domestic
Yi Honglu natural 0.17% 6,426,080
person
Shareholding of top 10 shareholders of unrestricted shares
Number of non-restricted common shares held at the Category of shares
Name of the shareholder
period-end Category of shares Quantity
Benxi Steel & Iron (Group) Co., Common shares in
2,381,105,094 2,381,105,094
Ltd. RMB
Liaoning Provincial
Common shares in
Transportation Investment 184,842,883 184,842,883
RMB
Group Co., Ltd.
CCB Principal Asset
Management – ICBC – CR Trust Common shares in
184,842,883 184,842,883
– CR Trust Xing Sheng No. 5 RMB
Collective Fund Trust Plan
Bei Xin Rui Feng Fund – China
Merchants Bank – Bei Xin Rui Common shares in
184,842,883 184,842,883
Feng Fund Feng Qing No. 229 RMB
Asset Management Plan
China Life AMP Fund– ICBC –
China Life AMP – Hua Xin
Common shares in
Trust Targeted Additional 184,842,883 184,842,883
RMB
Shares Issuance No. 10 Asset
Management Plan
Common shares in
Liang Zhongqing 27,623,365 27,623,365
RMB
Common shares in
Liu Qiuying 13,274,400 13,274,400
RMB
VANGUARD EMERGING Foreign shares
MARKETS STOCK INDEX 8,157,311 placed in domestic 8,157,311
FUND exchange
Common shares in
Chen Jinhong 6,876,375 6,876,375
RMB
Yi Honglu 6,426,080 Common shares in 6,426,080
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
RMB
Related-parties or acting-in- It is unknown to the Company whether there is any related parties or action-in-concert parties as
concert parties among the defined in “Measures for the Administration of the Takeover of Listed Companies”among the
above-mentioned shareholders above-mentioned shareholders.
Benxi Steel & Iron (Group) Co., Ltd. holds 2,142,105,094 shares of the company through an
ordinary securities account, and holds 239,000,000 shares through the investor's credit securities
Shareholders among the top 10
account, therefore, it holds a total of 2,381,105,094 shares. Liang Zhongqing holds 500 shares of
participating in securities
the company through general securities account and 27,622,865 shares of the company through
margin trading (if any)
an investor's credit securities account. Yi Honglu holds 6,426,080 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 2019
III. Important Events
I. Major Changes in Financial Data and Financial Index and Reasons
√ 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 Reasons
Decrease
Due to the increase of construction in
progress that did not meet the conditions of
Construction in progress 113%
transferring to fixed assets at the end of the
period
Due to the increase of accounts payables in
Accounts payables 50%
the current period
Due to the decrease of VAT payable at the
Tax payable -89%
end of this period
Due to the conversion of long-term
Non-current liabilities due within
552% borrowings into non-current liabilities due
one year
within one year
Due to the increase in equipment leased at
Long-term payables 446%
the end of the period.
Due to the decrease of payment of safety
Special reserves 2913%
production fee
Items and reasons for the changes of more than 30% compared to January to September 2018 in the
consolidated financial statements
Increase /
2. Statement of comprehensive income Reasons
Decrease
Research and development Due to the increase of research and
606%
expenses development expenses in current period
Financial expenses -69% Due to the decrease of exchange loss
Due to the decrease in financial products
Investment income -99%
purchased during the period.
Due to the increase of disposal income on
Asset disposal gains 170%
fixed assets
Due to the increase of gains arose from
Non-operating income 323%
fixed assets scrapping
Due to the increase of losses arose from
Non-operating expenses 3164%
fixed assets scrapping
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
Income tax expenses 84% Due to the increase of deferred income tax
Profit or loss of non-controlling Due to the decrease of profit of holding
-114%
shareholders subsidiaries
Increase /
3. Statement of cash flows Reasons
Decrease
Other cash received relating to Due to the increase of other cash received
115%
operating activities relating to operating activities
Due to the increase of taxes paid during the
Cash paid for all types of taxes 47%
current period
Cash paid for acquisition of fixed Due to the decrease of payment of acquisition
assets, intangible assets and other -33% of fixed assets, intangible assets during the
long-term assets current period
Due to the decrease of reception of
Cash received from borrowings -65%
borrowings
Due to the decrease of cash on repayment of
Cash repayments of borrowings -77%
borrowings
II. Progress and influence of significant events, as well as the analysis and
explanation on solutions
√ Applicable □ Not applicable
On May 22, 2019, the second meeting of the eighth board of directors of the company and the second
extraordinary shareholders meeting of the company in 2019 on June 10, 2019 reviewed and approved the
relevant proposals on the company's public offering of A-share convertible corporate bonds. The China
Securities Regulatory Commission (hereinafter referred to as the “China Securities Regulatory
Commission”) accepted the application materials for the public offering of A-share convertible corporate
bonds on August 7, 2019, and received the Notice issued by the China Securities Regulatory Commission
on September 18, 2019. The “Notice of Feedback of the China Securities Regulatory Commission's
Administrative Licensing Project Review” (No. 192096), the company and relevant intermediaries
carried out serious verification and implementation work for the feedback, and in accordance with the
requirements of the feedback, the information was supplemented and The question was answered and
the relevant reply was disclosed on October 15, 2019. The company's issue of convertible corporate
bonds is still subject to the approval of the China Securities Regulatory Commission. There is uncertainty
as to whether it can be approved. Investors are advised to pay attention to investment risks.
Interim report disclosure
Overview of important matters Date of disclosure
website query index
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
The company signed the "Asset
Transfer Agreement" with Benxi Steel
(Group) Co., Ltd. and Benxi Beiying www.cninfo.com.cn
August 15, 2019
Iron and Steel (Group) Co., Ltd., and Announcement No.: 2019-051
acquired the equipment and equipment
assets related to 2300mm hot rolling
mill production line held by Benxi
Iron and Steel Co., Ltd. and the
equipment and equipment assets
related to the 1780mm hot rolling mill www.cninfo.com.cn
September 03, 2019
production line held by Benxi Beiying Announcement No.: 2019-058
Company. The company completed the
purchase of the target assets on
September 3, 2019.
Progress in the implementation of share repurchase
□ Applicable √ Not Applicable
Progress in the implementation of the reduction of shareholding shares by centralized competitive
bidding
□ 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
Commitment Type of Commitment Commitment
Commitment reasons Contents Performance
party commitment time period
Commitment to share
reform
Commitment made in
the acquisition report or
the equity change
report
Commitment made
during asset
restructuring
According to
the relevant
Company provisions of
Commitment made
directors, Other the China January 26, December 9, Under normal
during initial public
senior commitments Securities 2016 2019 fulfillment
offering or refinancing
management Regulatory
Commission,
the following
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
commitments
can be made
to the
company’s
efforts to fill
the rewards:
During the
tenure,
faithfully and
diligently
perform duties
and safeguards
the legitimate
rights and
interests of the
company and
all
shareholders,
including but
not limited to:
1.
Commitment
not to transfer
benefits to
other units or
individuals
without
compensation
or unfair
conditions,
and not to
damage the
company’s
interests in
other ways; 2.
Commitment
to constrain
the behavior
of job
consumption;
3.
Commitment
to not use
company
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
assets to
engage in
investment
and
consumption
activities
unrelated to
the
performance
of their duties;
4.
Commitment
to the
compensation
system
established by
the board of
directors or
the
Remuneration
and Appraisal
Committee is
linked to the
implementatio
n of the
company's
measures to
cover the
return; 5. If
the company
launches an
equity
incentive plan
in the future,
the terms of
the exercise of
the equity
incentive plan
are linked to
the
implementatio
n of the
company's
measures to
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
fill the
rewards.
Equity incentive
commitment
Other commitments to
the company's minority
shareholders
Commitment to fulfill
Yes
on time
IV. Investment in Securities
□ Applicable √ Not applicable
There are no securities investments in the reporting period.
V. Entrusted Financial Management
□ Applicable √ Not applicable
There is no entrusted financial management in the reporting period.
VI. Investment in Derivatives
□ Applicable √ Not applicable
There is no investment in derivatives in the reporting period.
VII. Registration form of Activities such as Research, Communication, Interview
in this Reporting Period
□ Applicable √ Not applicable
There is no researches, visits and interviews received in the reporting period.
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 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 2019
IV. Financial Report
I. Financial Statements
1. CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Prepared by: Bengang Steel Plates Co., Ltd.
Unit: Yuan
Items Sep 30th , 2019 Dec 31st, 2018
Current assets:
Cash at bank and on hand 19,984,210,581.72 16,567,471,755.77
Settlement provisions
Capital lent
Financial assets held for trading
Financial assets at fair value through
profit or loss
Derivative financial assets
Notes receivable 2,647,287,059.10 3,580,145,843.38
Accounts receivable 592,287,178.61 639,482,481.45
Receivables financing
Prepayments 1,284,152,966.11 1,321,537,514.78
Premium receivable
Reinsurance accounts receivable
Receivable deposit for reinsurance
contract
Other receivables: 208,492,688.07 202,763,964.98
Including: Interest receivables 12,642,974.12 11,608,705.43
Dividend receivables
Redemptory financial assets for sale
Inventories 9,648,655,795.97 10,677,747,112.40
Contract assets
Assets classified as held for sale
Non-current assets due within one year
Other current assets 330,615,190.73 292,119,771.13
Total current assets 34,695,701,460.31 33,281,268,443.89
Non-current assets:
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
Loan and advances issued
Debt investments
Available-for-sale financial assets 1,041,824,829.00
Other debt investments
Held-to-maturity investments
Long-term receivables
Long-term equity investments 2,481,589.04 2,455,681.55
Other equity instrument investments 1,041,824,829.00
Other non-current financial assets
Investment properties
Fixed assets 25,722,058,707.79 23,924,504,539.97
Construction in progress 1,785,959,831.48 836,594,457.82
Productive biological assets
Oil and gas assets
Right of use assets
Intangible assets 273,141,866.04 278,062,441.04
Development expenditure
Goodwill
Long-term deferred expenses
Deferred tax assets 174,168,423.31 191,452,547.21
Other non-current assets 64,027,424.81 76,341,975.35
Total non-current assets 29,063,662,671.47 26,351,236,471.94
Total assets 63,759,364,131.78 59,632,504,915.83
Current Liabilities:
Short-term loans 12,535,851,000.00 11,938,490,375.85
Loan from central bank
Absorbed deposit and interbank deposit
Financial liabilities held for trading
Financial liabilities at fair value through
profit or loss
Derivative financial liabilities
Notes payable 10,721,947,779.82 10,013,192,014.02
Accounts payable 8,297,245,042.10 5,522,042,811.65
Advance from customers 3,716,963,704.35 3,331,854,098.42
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
Contract Liabilities
Financial assets sold for repurchase
Deposits from customers and interbank
Acting trading securities
Acting underwriting securities
Employee benefits payable 50,531,098.73 51,466,231.72
Current tax liabilities 55,344,641.91 515,752,369.68
Other payables 850,901,676.15 862,511,178.96
Including: Interest payables 8,014,283.24 9,658,681.99
Dividend payables
Handling charges and commission
payable
Reinsurance accounts payable
Liabilities held for sale
Non-current liabilities due within one
2,288,751,448.16 350,965,576.32
year
Other current liabilities
Total current liabilities 38,517,536,391.22 32,586,274,656.62
Non-current liabilities:
Provision for insurance contract
Long-term loans 4,972,547,175.82 7,083,640,094.16
Bonds payable
Including: Preferred stock
Perpetual bond
Lease liabilities
Long-term payables 74,746,302.05 13,686,705.92
Long-term employee benefits payables
Estimated liabilities
Deferred income 230,018,022.97 289,499,002.97
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 5,277,311,500.84 7,386,825,803.05
Total liabilities 43,794,847,892.06 39,973,100,459.67
Shareholders’ equity:
Share capital 3,875,371,532.00 3,875,371,532.00
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
Other equity instruments
Including: Preferred stock
Perpetual bond
Capital reserves 12,343,209,847.29 12,343,209,847.29
Less: treasury shares
Other comprehensive income
Special reserves 20,609,493.36 683,937.71
Surplus reserves 961,105,529.85 961,105,529.85
General risk reserves
Undistributed profits 2,239,557,940.10 1,945,887,269.82
Total equity attributable to equity holders of
19,439,854,342.60 19,126,258,116.67
the parent company
Non-controlling interests 524,661,897.12 533,146,339.49
Total shareholder’s equity 19,964,516,239.72 19,659,404,456.16
Total liabilities and shareholder’s equity 63,759,364,131.78 59,632,504,915.83
Legal Representative: Gao Lie Person in charge of accounting: Shen Qiang Accounting Dept. Leader: Zhao Zhonghua
2. STATEMENT OF FINANCIAL POSITION OF THE PARENT COMPANY
Unit: Yuan
Items Sep 30th, 2019 Dec 31st, 2018
Current assets:
Cash at bank and on hand 18,280,266,796.50 15,536,305,375.00
Financial assets held for trading
Financial assets at fair value through
profit or loss
Derivative financial assets
Notes receivable 2,570,575,588.41 3,356,020,598.89
Accounts receivable 377,395,508.27 409,553,059.27
Receivables financing
Prepayments 1,262,333,417.87 1,309,194,738.97
Other receivables 221,109,216.42 235,037,391.46
Including: Interest receivables 11,054,927.27 9,815,280.04
Dividend receivables
Inventories 8,187,028,960.76 8,681,362,081.72
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
Contract assets
Assets classified as held for sale
Non-current assets due within one year
Other current assets 265,082,350.56 193,989,096.20
Total current assets 31,163,791,838.79 29,721,462,341.51
Non-current assets:
Debt investments
Available-for-sale financial assets 1,041,624,829.00
Other debt investments
Held-to-maturity investment
Long-term receivables
Long-term equity investments 2,016,281,902.16 2,016,281,902.16
Other equity instrument investments 1,041,624,829.00
Other non-current financial assets
Investment properties
Fixed assets 24,088,077,920.91 22,035,187,328.57
Construction in progress 1,770,671,281.92 825,553,510.15
Productive biological assets
Oil and gas assets
Right of use assets
Intangible assets 146,296,575.00 148,776,177.96
Development expenditure
Goodwill
Long-term deferred expenses
Deferred tax assets 80,389,854.83 96,220,003.00
Other non-current assets 64,027,424.81 76,341,975.35
Total non-current assets 29,207,369,788.63 26,239,985,726.19
Total assets 60,371,161,627.42 55,961,448,067.70
Current Liabilities:
Short-term loans 11,235,851,000.00 10,624,270,375.85
Financial assets held for trading
Financial liabilities at fair value through
profit or loss
Derivative financial liabilities
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
Notes payable 8,554,883,676.61 9,213,748,427.22
Accounts payable 10,401,360,265.58 5,940,816,426.48
Advance from customers 3,570,678,789.25 3,189,143,565.45
Contract liabilities
Employee benefits payable 50,140,067.57 49,378,095.47
Current tax liabilities 5,563,337.07 507,003,883.57
Other payables 522,902,727.37 538,051,513.13
Including: Interest payables 6,247,124.51 7,341,833.33
Dividend payables
Liabilities held for sale
Non-current liabilities due within one
2,288,751,448.16 350,965,576.32
year
Other current liabilities
Total current liabilities 36,630,131,311.61 30,413,377,863.49
Non-current liabilities:
Long-term loans 4,972,547,175.82 7,083,640,094.16
Bonds payable
Including: Preferred stock
Perpetual bond
Lease liabilities
Long-term payables 74,746,302.05 13,686,705.92
Long-term employee benefits payable
Estimated liabilities
Deferred incomes 230,018,022.97 289,499,002.97
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 5,277,311,500.84 7,386,825,803.05
Total liabilities 41,907,442,812.45 37,800,203,666.54
Shareholders’ equity:
Share capital 3,875,371,532.00 3,875,371,532.00
Other equity instruments
Including: Preferred stock
Perpetual bond
Capital reserves 11,923,058,165.17 11,923,058,165.17
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
Less: treasury shares
Other comprehensive income
Special reserves 16,323,073.17 525,218.48
Surplus reserves 961,105,529.85 961,105,529.85
Undistributed profits 1,687,860,514.78 1,401,183,955.66
Total shareholder’s equity 18,463,718,814.97 18,161,244,401.16
Total liabilities and shareholder’s equity 60,371,161,627.42 55,961,448,067.70
3. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME OF THE
CURRENT REPORTING PERIOD
Unit: Yuan
Items The Current Period The Previous Period
1. Total operating income 14,441,830,940.38 13,313,390,671.44
Including: Operating income 14,441,830,940.38 13,313,390,671.44
Interest income
Premium earned
Income from handling charges
and commission
2. Total operating cost 14,421,363,860.63 13,269,371,473.96
Including: Operating cost 13,739,273,641.14 11,807,011,528.70
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 60,775,436.14 65,070,725.45
Selling and distribution expenses 257,155,173.90 277,192,418.87
General and administrative
219,140,981.53 194,084,503.86
expenses
Research and development
7,306,019.67 744,560.38
expenses
Financial expenses 137,712,608.25 925,267,736.70
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Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
Including: interest expenses 136,052,012.01 341,799,842.63
Interest incomes 89,695,933.07 47,196,277.02
Add: Other incomes 20,821,500.00 22,139,558.33
Income on investment ("-" for loss)
Including: Income from associates and
joint ventures
Income from derecognition
of financial assets measured at amortised cost
("-" for loss)
Exchange Income ("-" for loss)
Hedging income from net exposure (“-"
for loss)
Gains from the change in fair value (“-"
for loss)
Expected credit losses (“-" for loss) 2,093,121.45
Asset impairment losses (“-" for loss) 6,821,520.16
Assets disposal gains（“-” for loss） 579,216.73 284,086.70
3. Operating profit ("-" for loss) 43,960,917.93 73,264,362.67
Add: Non-operating income 1,506,324.18 160,456.93
Less: Non-operating expenses 6,120,953.63 581,084.33
4. Total profit ("-" for loss) 39,346,288.48 72,843,735.27
Less: Income tax expenses 4,904,499.90 5,182,120.12
5. Net Profit ("-" for loss) 34,441,788.58 67,661,615.15
(1) Classification by continuing
operating
1 Net profit from continuing
34,441,788.58 67,661,615.15
operation
2 Net profit from discontinued
operation
(2) Classification by ownership
1 Net profit attributable to the
34,229,631.12 68,230,224.01
owners of parent company
2 Net profit attributable to non-
212,157.46 -568,608.86
controlling shareholders
6. Other comprehensive income after tax
Other comprehensive income attributable to
owners of parent company after tax
21
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
1) Other comprehensive income items
that will not be reclassified into gains/losses
(1) . Re-measurement of defined
benefit plans of changes in net debt or net
assets
(2) . Other comprehensive income
under the equity method cannot be reclassified
into profit or loss
(3). Changes of fair value of other
equity instrument investments
(4). Changes in the fair value of
the company's own credit risk
(5). Others
2) Other comprehensive income that will
be reclassified into profit or loss
(1) . Other comprehensive income
under the equity method can be reclassified
into profit or loss
(2). Gains and losses from fair
value changes of other debt investments
(3). Gains and losses from fair
value changes of available-for-sale financial
assets
(4). Gains and losses resulting
from reclassification of financial assets
recognised in other comprehensive income
(5). Gains and losses from
reclassification of held-to-maturity
investments to available-for-sale investments
(6). Credit impairment losses of
other debt investments
(7). Effective portion of gains or
losses from cash flow hedging
(8). Translation differences in
foreign currency financial statements
(9). Others
Other comprehensive income attributable to
non-controlling shareholders after tax
7. Total comprehensive income 34,441,788.58 67,661,615.15
22
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
Total comprehensive income attributable
34,229,631.12 68,230,224.01
to owners of parent company
Total comprehensive income attributable
212,157.46 -568,608.86
to non-controlling shareholders
8. Earnings per share:
1) Basic earnings per share 0.01 0.02
2) Diluted earnings per share 0.01 0.02
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: Gao Lie Person in charge of accounting: Shen Qiang Accounting Dept. Leader: Zhao Zhonghua
4. STATEMENT OF COMPREHENSIVE INCOME OF THE PARENT COMPANY OF
THE CURRENT REPORTING PERIOD
Unit: Yuan
Items The Current Period The Previous Period
1. Total operating income 14,566,987,831.66 12,985,694,384.88
Less: Operating cost 14,024,765,556.43 11,617,944,541.11
Taxes and surcharges 49,468,259.31 57,126,440.52
Selling and distribution expenses 147,799,392.26 175,224,699.33
General and administrative expenses 205,034,439.76 181,799,889.96
Research and development expenses 7,306,019.67 744,560.38
Financial expenses 127,265,933.34 912,638,828.57
Including: interest expenses 120,934,881.27 326,523,217.57
Interest incomes 84,996,191.09 45,650,825.86
Add: Other incomes 20,821,500.00 22,139,558.33
Income on investment ("-" for loss) 27,594,915.42 3,493,150.68
Including: Income from associates and
joint ventures
Income from derecognition
of financial assets measured at amortised cost
("-" for loss)
Hedging income from net exposure (“-"
for loss)
Gains from the change in fair value (“-"
for loss)
Expected credit losses (“-" for loss) 1,245,121.45
23
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
Asset impairment losses (“-" for loss) 6,821,520.16
Assets disposal gains（“-” for loss） 579,216.73 284,086.70
2. Operating profit ("-" for loss) 55,588,984.49 69,460,590.20
Add: Non-operating income 1,141,958.73 125,720.44
Less: Non-operating expenses 6,116,261.39 575,548.65
3. Total profit ("-" for loss) 50,614,681.83 69,010,761.99
Less: Income tax expenses 521,085.42 1,705,380.04
4. Net Profit ("-" for loss) 50,093,596.41 67,305,381.95
(1) Net profit from continuing operation
50,093,596.41 67,305,381.95
("-" for loss)
(2) Net profit from discontinued operation
("-" for loss)
5. Other comprehensive income after tax
1) Other comprehensive income items
that will not be reclassified into gains/losses
(1) . Re-measurement of defined
benefit plans of changes in net debt or net
assets
(2) . Other comprehensive income
under the equity method cannot be reclassified
into profit or loss
(3). Changes of fair value of other
equity instrument investments
(4). Changes in the fair value of
the company's own credit risk
(5). Others
2) Other comprehensive income that will
be reclassified into profit or loss
(1) . Other comprehensive income
under the equity method can be reclassified
into profit or loss
(2). Gains and losses from fair
value changes of other debt investments
(3). Gains and losses from fair
value changes of available-for-sale financial
assets
(4). Gains and losses resulting
from reclassification of financial assets
24
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
recognised in other comprehensive income
(5). Gains and losses from
reclassification of held-to-maturity
investments to available-for-sale investments
(6). Credit impairment losses of
other debt investments
(7). Effective portion of gains or
losses from cash flow hedging
(8). Translation differences in
foreign currency financial statements
(9). Others
6. Total comprehensive income 50,093,596.41 67,305,381.95
7. Earnings per share:
1) Basic earnings per share
2) Diluted earnings per share
5. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FROM THE
BEGINNING OF THE YEAR TO THE END OF THE CURRENT REPORTING
PERIOD
Unit: Yuan
Items The Current Period The Previous Period
1. Total operating income 38,544,426,107.52 36,754,638,048.58
Including: Operating income 38,544,426,107.52 36,754,638,048.58
Interest income
Premium earned
Income from handling charges
and commission
2. Total operating cost 38,043,189,142.86 36,008,275,762.90
Including: Operating cost 35,806,886,370.79 32,611,218,949.68
Interest cost
Expenditure for handling charges
and commission
Surrender value
Net expenditure for compensation
Net provision for insurance
contract appropriated
Bonus payment for policy
25
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
Reinsurance premium
Taxes and surcharges 174,900,799.11 218,378,101.09
Selling and distribution expenses 831,600,373.04 791,230,427.82
General and administrative
665,908,793.30 655,926,928.42
expenses
Research and development
22,714,491.95 3,215,201.91
expenses
Financial expenses 541,178,314.67 1,728,306,153.98
Including: interest expenses 722,542,274.70 916,801,457.83
Interest incomes 216,779,712.65 108,801,680.36
Add: Other incomes 62,516,500.00 63,413,797.03
Income on investment ("-" for loss) 25,907.49 3,493,150.68
Including: Income from associates and
joint ventures
Income from derecognition
of financial assets measured at amortised cost
("-" for loss)
Exchange Income ("-" for loss)
Hedging income from net exposure (“-"
for loss)
Gains from the change in fair value (“-"
for loss)
Expected credit losses (“-" for loss) 5,844,635.28
Asset impairment losses (“-" for loss) 27,739,483.80
Assets disposal gains（“-” for loss） 2,997,921.07 1,109,667.33
6. Operating profit ("-" for loss) 572,621,928.50 842,118,384.52
Add: Non-operating income 9,716,506.42 2,298,854.73
Less: Non-operating expenses 64,095,275.68 1,963,486.59
7. Total profit ("-" for loss) 518,243,159.24 842,453,752.66
Less: Income tax expenses 30,866,681.63 16,818,346.16
8. Net Profit ("-" for loss) 487,376,477.61 825,635,406.50
(3) Classification by continuing
operating
1 Net profit from continuing
487,376,477.61 825,635,406.50
operation
2 Net profit from discontinued
26
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
operation
(4) Classification by ownership
1 Net profit attributable to the
487,439,246.88 825,182,211.60
owners of parent company
2 Net profit attributable to non-
-62,769.27 453,194.90
controlling shareholders
6. Other comprehensive income after tax
Other comprehensive income attributable to
owners of parent company after tax
1) Other comprehensive income items
that will not be reclassified into gains/losses
(1) . Re-measurement of defined
benefit plans of changes in net debt or net
assets
(2) . Other comprehensive income
under the equity method cannot be reclassified
into profit or loss
(3). Changes of fair value of other
equity instrument investments
(4). Changes in the fair value of
the company's own credit risk
(5). Others
2) Other comprehensive income that will
be reclassified into profit or loss
(1) . Other comprehensive income
under the equity method can be reclassified
into profit or loss
(2). Gains and losses from fair
value changes of other debt investments
(3). Gains and losses from fair
value changes of available-for-sale financial
assets
(4). Gains and losses resulting
from reclassification of financial assets
recognised in other comprehensive income
(5). Gains and losses from
reclassification of held-to-maturity
investments to available-for-sale investments
(6). Credit impairment losses of
27
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
other debt investments
(7). Effective portion of gains or
losses from cash flow hedging
(8). Translation differences in
foreign currency financial statements
(9). Others
Other comprehensive income attributable to
non-controlling shareholders after tax
7. Total comprehensive income 487,376,477.61 825,635,406.50
Total comprehensive income attributable
487,439,246.88 825,182,211.60
to owners of parent company
Total comprehensive income attributable
-62,769.27 453,194.90
to non-controlling shareholders
8. Earnings per share:
1) Basic earnings per share 0.13 0.21
2) Diluted earnings per share 0.13 0.21
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: Gao Lie Person in charge of accounting: Shen Qiang Accounting Dept. Leader: Zhao Zhonghua
6. STATEMENT OF COMPREHENSIVE INCOME OF THE PARENT COMPANY
FROM THE BEGINNING OF THE YEAR TO THE END OF THE CURRENT
REPORTING PERIOD
Unit: Yuan
Items The Current Period The Previous Period
1. Total operating income 38,014,203,689.59 36,668,559,494.02
Less: Operating cost 35,782,055,553.61 33,019,136,503.31
Taxes and surcharges 133,935,663.72 192,669,833.48
Selling and distribution expenses 482,893,940.32 440,779,566.79
General and administrative expenses 624,372,438.11 619,992,907.29
Research and development expenses 22,714,491.95 3,215,201.91
Financial expenses 515,337,847.93 1,687,162,319.17
Including: interest expenses 679,030,224.93 870,205,608.54
Interest incomes 199,185,818.03 103,955,252.77
Add: Other incomes 62,516,500.00 63,413,797.03
Income on investment ("-" for loss) 27,594,915.42 3,493,150.68
28
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
Including: Income from associates and
joint ventures
Income from derecognition
of financial assets measured at amortised cost
("-" for loss)
Hedging income from net exposure (“-"
for loss)
Gains from the change in fair value (“-"
for loss)
Expected credit losses (“-" for loss) 4,996,635.28
Asset impairment losses (“-" for loss) 27,739,483.80
Assets disposal gains（“-” for loss） 3,044,923.32 1,109,667.33
2. Operating profit ("-" for loss) 551,046,727.97 801,359,260.91
Add: Non-operating income 9,279,999.48 1,840,469.10
Less: Non-operating expenses 64,051,443.56 1,957,950.91
3. Total profit ("-" for loss) 496,275,283.89 801,241,779.10
Less: Income tax expenses 15,830,148.17 7,384,717.21
4. Net Profit ("-" for loss) 480,445,135.72 793,857,061.89
(1) Net profit from continuing operation
480,445,135.72 793,857,061.89
("-" for loss)
(2) Net profit from discontinued operation
("-" for loss)
5. Other comprehensive income after tax
1) Other comprehensive income items
that will not be reclassified into gains/losses
(1) . Re-measurement of defined
benefit plans of changes in net debt or net
assets
(2) . Other comprehensive income
under the equity method cannot be reclassified
into profit or loss
(3). Changes of fair value of other
equity instrument investments
(4). Changes in the fair value of
the company's own credit risk
(5). Others
2) Other comprehensive income that will
be reclassified into profit or loss
29
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
(1) . Other comprehensive income
under the equity method can be reclassified
into profit or loss
(2). Gains and losses from fair
value changes of other debt investments
(3). Gains and losses from fair
value changes of available-for-sale financial
assets
(4). Gains and losses resulting
from reclassification of financial assets
recognised in other comprehensive income
(5). Gains and losses from
reclassification of held-to-maturity
investments to available-for-sale investments
(6). Credit impairment losses of
other debt investments
(7). Effective portion of gains or
losses from cash flow hedging
(8). Translation differences in
foreign currency financial statements
(9). Others
6. Total comprehensive income 480,445,135.72 793,857,061.89
7. Earnings per share:
1) Basic earnings per share
2) Diluted earnings per share
7. CONSOLIDATED STATEMENT OF CASH FLOWS FROM THE BEGINNING OF
THE YEAR TO THE END OF THE CURRENT PERIOD
Unit: Yuan
Items The Current Period The Previous Period
1. Cash flow from operating activities:
Cash received from sale of goods or
26,790,594,559.41 26,188,229,365.29
rendering of services
Net increase of customers’ deposit and
interbank deposit
Net increase of loan from central bank
Net increase of loans from other
30
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
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 330,537,134.71 284,799,886.80
Other cash received relating to
179,458,663.12 83,617,244.68
operating activities
Subtotal of cash inflow received from
27,300,590,357.24 26,556,646,496.77
operation activities
Cash paid for goods and services 20,530,964,210.54 17,207,337,978.80
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
1,450,655,474.24 1,438,947,941.23
employees
Cash paid for all types of taxes 911,658,861.03 618,124,974.18
Other cash paid relating to operating
351,573,590.15 358,768,202.58
activities
Subtotal of cash outflow received from
23,244,852,135.96 19,623,179,096.79
operation activities
Net cash flows generated from operating 4,055,738,221.28 6,933,467,399.98
31
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
activities
2. Cash flows from investing activities:
Cash received from return on
500,000,000.00
investments
Cash received from distribution of
3,493,150.68
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
investing activities
Cash paid for acquisition of fixed
assets, intangible assets and other long-term 843,532,197.66 1,261,912,086.54
assets
Cash paid for acquisition of 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 investing
843,532,197.66 1,261,912,086.54
activities
The net cash flow generated by investment
-843,532,197.66 -758,418,935.86
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 7,482,429,000.00 21,592,058,293.24
Other proceeds relating to financing
activities
Subtotal cash inflow received from financing
7,482,429,000.00 25,557,858,281.43
activities
Cash repayments of borrowings 6,938,475,606.71 29,751,998,311.55
32
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
Cash payments for distribution of
1,194,142,072.60 1,220,039,424.07
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 financing
8,132,617,679.31 30,972,037,735.62
activities
The net cash flow generated by financing
-650,188,679.31 -5,414,179,454.19
activities
4. Effect of foreign exchange rate changes on
57,000,333.44 173,516,701.33
cash and cash equivalents
5. Net increase in cash and cash equivalents 2,619,017,677.75 934,385,711.26
Add: Cash and cash equivalents at the
11,752,548,621.97 12,317,576,778.93
beginning of the period
6. Cash and cash equivalents at the ending of
14,371,566,299.72 13,251,962,490.19
the period
8. STATEMENT OF CASH FLOWS OF THE PARENT COMPANY FROM THE
BEGINNING OF THE YEAR TO THE END OF THE CURRENT PERIOD
Unit: Yuan
Items The Current Period The Previous Period
1.Cash flow from operating activities:
Cash received from sale of goods or
25,300,199,068.22 25,652,120,540.51
rendering of services
Tax rebate received 284,437,850.97 119,119,395.04
Other cash received relating to
174,941,066.19 80,682,696.51
operating activities
Subtotal of cash inflow received from
25,759,577,985.38 25,851,922,632.06
operation activities
Cash paid for goods and services 18,900,585,331.92 17,009,484,822.48
Cash paid to and on behalf of
1,371,069,525.86 1,372,731,925.30
employees
Cash paid for all types of taxes 789,815,447.75 528,120,047.39
Other cash paid relating to operating
310,224,763.98 322,705,026.46
activities
33
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
Subtotal of cash outflow received from
21,371,695,069.51 19,233,041,821.63
operation activities
Net cash flows generated from operating
4,387,882,915.87 6,618,880,810.43
activities
2. Cash flows from investing activities:
Cash received from return on
500,000,000.00
investments
Cash received from distribution of
3,493,150.68
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
investing activities
Cash paid for acquisition of fixed
assets, intangible assets and other long-term 836,697,138.22 1,241,365,059.32
assets
Cash paid for acquisition of investments 259,300,000.00
Net cash received from subsidiary and
other operating unit
Other cash paid relating to investing
activities
Subtotal of cash outflows from investing
836,697,138.22 1,500,665,059.32
activities
The net cash flow generated by investment
-836,697,138.22 -997,171,908.64
activities
3. Cash flows from financing activities:
Proceeds from investment 3,965,799,988.19
Proceeds from borrowings 6,282,429,000.00 20,515,395,400.00
Other proceeds relating to financing
activities
Subtotal cash inflow received from financing
6,282,429,000.00 24,481,195,388.19
activities
Cash repayments of borrowings 5,438,545,606.71 28,587,442,043.95
34
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
Cash payments for distribution of
1,112,682,499.61 1,176,598,972.79
dividends, profit or interest expenses
Other cash payments relating to
financing activities
Subtotal of cash outflows from financing
6,551,228,106.32 29,764,041,016.74
activities
The net cash flow generated by financing
-268,799,106.32 -5,282,845,628.55
activities
4. Effect of foreign exchange rate changes on
56,922,645.03 173,504,704.68
cash and cash equivalents
5. Net increase in cash and cash equivalents 3,339,309,316.36 512,367,977.92
Add: Cash and cash equivalents at the
10,807,824,843.20 12,152,285,550.21
beginning of the period
6. Cash and cash equivalents at the ending of
14,147,134,159.56 12,664,653,528.13
the period
35
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
II. Adjustments of Financial Statements
1. Adjustments of beginning balance due to the first-time implementation of the new
financial instruments guidelines, new revenue standards, new lease standards
√ Applicable □ Not applicable
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Unit: yuan
Items Dec 31st 2018 Jan 1st 2019 Adjustment amount
Current assets:
Cash at bank and on hand 16,567,471,755.77 16,567,471,755.77
Settlement provisions
Capital lent
Financial assets held for trading
Financial assets at fair value
through profit or loss
Derivative financial assets
Notes receivable 3,580,145,843.38 3,580,145,843.38
Accounts receivable 639,482,481.45 639,482,481.45
Receivables financing
Prepayments 1,321,537,514.78 1,321,537,514.78
Premium receivable
Reinsurance accounts receivable
Receivable deposit for
reinsurance contract
Other receivables: 202,763,964.98 202,763,964.98
Including: Interest receivables 11,608,705.43 11,608,705.43
Dividend receivables
Redemptory financial assets for
sale
Inventories 10,677,747,112.40 10,677,747,112.40
Contract assets
Assets classified as held for sale
Non-current assets due within
one year
Other current assets 292,119,771.13 292,119,771.13
36
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
Total current assets 33,281,268,443.89 33,281,268,443.89
Non-current assets:
Loan and advances issued
Debt investments
Available-for-sale financial assets 1,041,824,829.00 -1,041,824,829.00
Other debt investments
Held-to-maturity investments
Long-term receivables
Long-term equity investments 2,455,681.55 2,455,681.55
Other equity instrument
1,041,824,829.00 1,041,824,829.00
investments
Other non-current financial assets
Investment properties
Fixed assets 23,924,504,539.97 23,924,504,539.97
Construction in progress 836,594,457.82 836,594,457.82
Productive biological assets
Oil and gas assets
Right of use assets
Intangible assets 278,062,441.04 278,062,441.04
Development expenditure
Goodwill
Long-term deferred expenses
Deferred tax assets 191,452,547.21 191,452,547.21
Other non-current assets 76,341,975.35 76,341,975.35
Total non-current assets 26,351,236,471.94 26,351,236,471.94
Total assets 59,632,504,915.83 59,632,504,915.83
Current Liabilities:
Short-term loans 11,938,490,375.85 11,938,490,375.85
Loan from central bank
Absorbed deposit and interbank
deposit
Financial liabilities held for
trading
Financial liabilities at fair value
through profit or loss
37
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
Derivative financial liabilities
Note payables 10,013,192,014.02 10,013,192,014.02
Account payables 5,522,042,811.65 5,522,042,811.65
Advance from customers 3,331,854,098.42 3,331,854,098.42
Financial assets sold for
repurchase
Deposits from customers and
interbank
Acting trading securities
Acting underwriting securities
Employee benefits payable 51,466,231.72 51,466,231.72
Current tax liabilities 515,752,369.68 515,752,369.68
Other payables 862,511,178.96 862,511,178.96
Including: Interest payables 9,658,681.99 9,658,681.99
Dividend payables
Handling charges and
commission payable
Reinsurance accounts payable
Contract liabilities
Liabilities held for sale
Non-current liabilities due within
350,965,576.32 350,965,576.32
one year
Other current liabilities
Total current liabilities 32,586,274,656.62 32,586,274,656.62
Non-current liabilities:
Provision for insurance contract
Long-term loans 7,083,640,094.16 7,083,640,094.16
Bonds payable
Including: Preferred stock
Perpetual bond
Lease liabilities
Long-term payables 13,686,705.92 13,686,705.92
Long-term employee benefits
payables
Estimated liabilities
38
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
Deferred income 289,499,002.97 289,499,002.97
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 7,386,825,803.05 7,386,825,803.05
Total liabilities 39,973,100,459.67 39,973,100,459.67
Shareholders’ equity:
Share capital 3,875,371,532.00 3,875,371,532.00
Other equity instruments
Including: Preferred stock
Perpetual bond
Capital reserves 12,343,209,847.29 12,343,209,847.29
Less: treasury shares
Other comprehensive income
Special reserves 683,937.71 683,937.71
Surplus reserves 961,105,529.85 961,105,529.85
General risk reserves
Undistributed profits 1,945,887,269.82 1,945,887,269.82
Total equity attributable to equity
19,126,258,116.67 19,126,258,116.67
holders of the parent company
Non-controlling interests 533,146,339.49 533,146,339.49
Total shareholder’s equity 19,659,404,456.16 19,659,404,456.16
Total liabilities and shareholder’s
59,632,504,915.83 59,632,504,915.83
equity
Notes:
STATEMENOT OF FINANCIAL POSITION OF THE PARENT COMPANY
Unit: Yuan
Items Dec 31st 2018 Jan 1st 2019 Adjustment amount
Current assets:
Cash at bank and on hand 15,536,305,375.00 15,536,305,375.00
Financial assets held for trading
Financial assets at fair value through profit
or loss
Derivative financial assets
Notes receivable 3,356,020,598.89 3,356,020,598.89
Accounts receivable 409,553,059.27 409,553,059.27
39
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
Receivables financing
Prepayments 1,309,194,738.97 1,309,194,738.97
Other receivables 235,037,391.46 235,037,391.46
Including: Interest receivables 9,815,280.04 9,815,280.04
Dividend receivables
Inventories 8,681,362,081.72 8,681,362,081.72
Contract assets
Assets classified as held for sale
Non-current assets due within one year
Other current assets 193,989,096.20 193,989,096.20
Total current assets 29,721,462,341.51 29,721,462,341.51
Non-current assets:
Debt investments
Available-for-sale financial assets 1,041,624,829.00 -1,041,624,829.00
Other debt investments
Held-to-maturity investment
Long-term receivables
Long-term equity investments 2,016,281,902.16 2,016,281,902.16
Other equity instrument investments 1,041,624,829.00 1,041,624,829.00
Other non-current financial assets
Investment properties
Fixed assets 22,035,187,328.57 22,035,187,328.57
Construction in progress 825,553,510.15 825,553,510.15
Productive biological assets
Oil and gas assets
Right of use assets
Intangible assets 148,776,177.96 148,776,177.96
Development expenditure
Goodwill
Long-term deferred expenses
Deferred tax assets 96,220,003.00 96,220,003.00
Other non-current assets 76,341,975.35 76,341,975.35
Total non-current assets 26,239,985,726.19 26,239,985,726.19
Total assets 55,961,448,067.70 55,961,448,067.70
40
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
Current Liabilities:
Short-term loans 10,624,270,375.85 10,624,270,375.85
Financial assets held for trading
Financial liabilities at fair value through
profit or loss
Derivative financial liabilities
Notes payable 9,213,748,427.22 9,213,748,427.22
Accounts payable 5,940,816,426.48 5,940,816,426.48
Advance from customers 3,189,143,565.45 3,189,143,565.45
Contract liabilities
Employee benefits payable 49,378,095.47 49,378,095.47
Current tax liabilities 507,003,883.57 507,003,883.57
Other payables 538,051,513.13 538,051,513.13
Including: Interest payables 7,341,833.33 7,341,833.33
Dividend payables
Liabilities held for sale
Non-current liabilities due within one year 350,965,576.32 350,965,576.32
Other current liabilities
Total current liabilities 30,413,377,863.49 30,413,377,863.49
Non-current liabilities:
Long-term loans 7,083,640,094.16 7,083,640,094.16
Bonds payable
Including: Preferred stock
Perpetual bond
Lease liabilities
Long-term payables 13,686,705.92 13,686,705.92
Long-term employee benefits payable
Estimated liabilities
Deferred incomes 289,499,002.97 289,499,002.97
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 7,386,825,803.05 7,386,825,803.05
Total liabilities 37,800,203,666.54 37,800,203,666.54
Shareholders’ equity:
41
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
Share capital 3,875,371,532.00 3,875,371,532.00
Other equity instruments
Including: Preferred stock
Perpetual bond
Capital reserves 11,923,058,165.17 11,923,058,165.17
Less: treasury shares
Other comprehensive income
Special reserves 525,218.48 525,218.48
Surplus reserves 961,105,529.85 961,105,529.85
Undistributed profits 1,401,183,955.66 1,401,183,955.66
Total shareholder’s equity 18,161,244,401.16 18,161,244,401.16
Total liabilities and shareholder’s equity 55,961,448,067.70 55,961,448,067.70
Notes:
2. Retroactive adjustment due to the first time implementation of the new financial
instruments guidelines and new lease standards
□ Applicable √ Not applicable
III. Audit report
Whether the third quarter report is audited
□ Yes √ No
The third quarter report is not audited.
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